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Showing posts from June 6, 2021

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Weibo Cracks Down Crypto Related Accounts as China Strengthens Its Anti Crypto Stance

Sina Weibo, the Chinese equivalent of Twitter, banned the accounts of several key cryptocurrency and defi influencers in the country yesterday, according to reports from local sources. This might be a continuation of the anti-crypto stance the Chinese state has been exerting since 2013, and more profoundly in the last days with the crackdown of the state on crypto trading and mining. Sina Weibo Suspends Crypto-Related Accounts Sina Weibo, the Chinese substitute for Twitter, has recently banned the accounts of a large amount of cryptocurrency and decentralized finance (defi) related accounts from its platform. This was announced by Colin Wu, a local cryptocurrency journalist, using his Twitter account dubbed “Wu Blockchain.” According to the reporter, this might be the logical continuation of the latest crackdown the Chinese government is orchestrating to ban trading and mining in its territory. Wu states the suspension of these accounts can have an impact on how Chinese traders co...
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Broke MIT students miss 13,000% gain on free BTC after selling for food and shoes

Many students who participated in the 2014 MIT Bitcoin Project lament quickly selling their free BTC for textbooks, sushi, and beer. In October 2014, the Massachusetts Institute of Technology (MIT) launched the MIT Bitcoin Project, an initiative that sought to give away $500,000 worth of Bitcoin to its undergraduate students. Students were able to claim $100 worth of BTC in exchange for filling out a survey, equating to roughly 0.3 BTC at the time. The project was spearheaded by students Jeremy Rubin and Dan Elitzer, who raised $500,000 from university alumni and representatives of the Bitcoin community. The project was intended to encourage exploration into digital assets and foster the campus as a global hub for crypto research . With 3,100 students capitalizing on the offer and close to $200,000 worth of Bitcoin going unclaimed at the time, the university distributed roughly $33.8 million worth of BTC at current prices. While many of the students presumably spent their freely...
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London wealth manager cashes out $1B profit from $600M BTC buy in November

After profiting $1 billion in less than six months, Ruffer is open to making more Bitcoin trades in the future. Asset manager Ruffer has profited by more than $1 billion in profit from a $600 million Bitcoin investment it made during November 2020. Speaking to The Times , investment director at the London-based asset management firm, Hamish Baillie, revealed that Ruffer closed out its Bitcoin position for more than $1.1 billion in profit during April: “When the price doubled we took some profits for our clients in December and early January. We actively managed the position and by the time we sold the last tranche in April the total profit was slightly more than $1.1 billion.” Baillie claims Ruffer became one of the first fund managers to buy BTC in what was a rare short-term investment for the company. At the time of the investment, Bitcoin’s price had cleared $15,000 and was pushing up to test the then all-time highs near $20,000 that had been set in 2017. The investment direct...
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Two-fifths of Aussie millennials think crypto investments beat real estate

Boomers down under are worried about volatility, but millennials are filling their crypto bags. Research has revealed that one in five Australians believe that crypto is the key to homeownership as confidence in traditional savings dwindles. The survey, conducted by cryptocurrency exchange Kraken , found that an increasing number of young Australians are becoming disheartened by traditional investment options. Almost one quarter of those surveyed expressed concern that the value of money in traditional cash savings is decreasing. The study found that 22% of the Australians surveyed believe investing in cryptocurrency is an easier way to save for a mortgage deposit than storing fiat in a bank account or other traditional savings methods. Nearly 40% of Millennials — respondents born between the early 1980s and the mid-to-late-1990s — said that crypto assets are a sound alternative to buying an investment property. Further, 31% of Generation X participants — Australians born between ...
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Bitcoin FOMO and Paul Tudor Jones Led Stan Druckenmiller to Invest Millions in BTC

Billionaire Stanley Druckenmiller has shared how he got into bitcoin and it involved famed hedge fund manager Paul Tudor Jones. When bitcoin was going up, Druckenmiller said, “I just couldn’t stand the fact that it was going up and I didn’t own it … I felt like a moron.” Paul Tudor Jones, Stan Druckenmiller, and FOMO Renowned investor Stan Druckenmiller has shared how he got into bitcoin in an interview with The Hustle published on May 26. He also shared his views on ethereum and dogecoin, as Bitcoin News previously reported . Druckenmiller founded Duquesne Capital in 1981. He managed money for George Soros as the lead portfolio manager for the Quantum Fund until 2000. He and Soros made massive profits betting against the British pound in 1992. When the price of bitcoin skyrocketed from $50 to $17,000, Druckenmiller described, “I just sat there aghast,” admitting, “I wanted to buy it every day.” The billionaire investor elaborated: It was going up and — even though I didn’t thi...
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Hacktivist collective Anonymous takes aim at Elon Musk. Who cares?

The collective's power has been waning in recent years, showing more bark than bite. It’s the classic Anonymous modus operandi: a monologue worthy of a super villain, a perceived attack on an individual right or public good, some guy in a Guy Fawkes mask, and a whole lot of fizzbang-wowie video effects and voice distortion.  But as the hacktivist collective takes aim at a new target in Elon Musk, the latest “expect us” threat prompts the question: who cares? Yesterday, a video purportedly from the Anonymous collective warned that there is now a joint intelligence working against him: Oh fuck https://t.co/f8A4baYgWU — Peter McCormack (@PeterMcCormack) June 5, 2021 The monologue was meandering, noting that “your fanboys overlook these issues because they are focused on the potential good that your projects can bring to the world,” taking aim at Musk’s background as the heir to a south African mining company, and accusing him of attempting to “create a Bitcoin Mining Council ...
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Norway Finance Minister Sees Great Interest in Cryptocurrency — Says Bitcoin Could See ‘Breakthroughs’

The finance minister of Norway believes that bitcoin may experience “breakthroughs.” He noted that “There is no doubt that there is great interest in cryptocurrency both in Norway and internationally.” Bitcoin May See Breakthroughs, Says Finance Minister of Norway The finance minister of Norway, Jan Tore Sanner, suggested in an interview last week that “cryptocurrencies will at some point move past the volatility for which they’re currently known and experience a period of ‘breakthroughs,'” Bloomberg reported. He was quoted as saying: It is clear that there may be a development over time, whereby you will be able to get more stabilization mechanisms in the currencies that can lead to greater breakthroughs and upheavals in the slightly longer term. However, he noted that for the time being, cryptocurrency is not a market he would recommend consumers to enter. The finance minister added that he does not believe crypto assets will go mainstream until they are properly regulate...
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Unsure about buying the dip? This key trading indicator makes it easier

Knowing how to spot market reversals and when to buy the dip is nearly impossible, but the RSI indicator can help. When an asset enters a bear phase and the headlines are negative, analysts project further downside, and the sentiment shifts from optimism to pure gloom and doom. This results in panic gripped traders dumping their positions near the bottom of the downtrend instead of buying.  How can traders go against the herd and build the courage to buy in a bear market? It is not easy because if they purchase too early, the position may quickly turn into a loss. However, if they wait for too long, they may miss the early part of the rally. Although pulling the trigger during a bear phase is difficult, the relative strength index (RSI) indicator can identify market bottoms and favorable risk to reward scenarios. Let’s review a few examples of when to buy in a bear market. Look for extremely oversold levels on the RSI BTC/USDT daily chart. Source: TradingView Bitcoin ( B...
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Goldman Sachs Survey: Chief Investment Officers Say Bitcoin Is Their Least Favorite Investment

Investment bank Goldman Sachs recently held two roundtable sessions for chief investment officers of hedge funds. The bank found that they see bitcoin as their least favorite investment. In contrast, the latest Bank of America Fund Manager Survey found that “long bitcoin” was the most crowded trade. CIOs Reveal Their Most and Least Favorite Investments Goldman Sachs published a note Saturday after conducting a survey to find out what investments chief investment officers (CIOs) favor in the current market. Goldman Sachs strategist Timothy Moe wrote: We held two CIO roundtable sessions earlier this week, which were attended by 25 CIOs from various long-only and hedge funds. Their most favorite is growth style but least favorite on bitcoin. Besides growth style, the CIOs favored value style and then commodities. Their least favorite investment was bitcoin, followed by new IPOs, and rate-sensitive investments. The most and least favorite investments for chief investment officers....
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Clean Water Nonprofit Reveals Celebrity-Fueled Bitcoin Water Trust Initiative

On Friday, the well known nonprofit charitywater.org announced the launch of a celebrity-funded Bitcoin Water Trust initiative. The trust will be allowed to hold bitcoin donations to fund water projects worldwide until 2025. Charity Water Launches Bitcoin Water Trust A number of announcements were revealed at the Bitcoin 2021 conference in Miami and one announcement was from the global safe drinking water nonprofit, charity water . The organization charity water is a nonprofit that helps provide clean and safe drinking water to citizens living in developing countries. On June 4, charity water revealed a celebrity-funded Bitcoin Water Trust initiative which aims to leverage bitcoin ( BTC ) to spark a “paradigm shift in the charitable sector adopting this digital asset.” The charity said that it received its first bitcoin donation back in 2014 and since then the leading crypto asset has grown in value by more than 100x. According to the announcement, the Bitcoin Water Trust has opene...
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TimeCoin(TMCN) Combines NFT and DeFi, VTuber & Game Player Matching Service

PRESS RELEASE. TimeCoinProtocol is the decentralized sharing economy protocol which aims to optimize world resource usage. Various applications can be built and run on theTimeCoinProtocol including third party applications. The project puts a strong focus on the Gig Economy and Creator Economy. The project has issued an original crypto currency called TimeCoin(TMCN) which is listed on some major exchanges and was initially financed by a few investors who invested around 4 million USD. There have been only a very limited number of tokens placed on the market so far. The project is currently focusing on a Gig Economy application called TimeTicket, Creator Economy applications called GameTomodachi, eSportStars, and VTuber Production, NeoRad. TimeTicket has more than 500,000 users in Japan and generates several million US dollars in sales. The revenue of TimeTicket has grown more than 40 times over 3 years and the business plans to expand internationally. GameTomodachi is a game play...
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National Court of Spain Suspends John McAfee Extradition Hearing

The National Court in Spain has suspended the hearing destined to deal with the extradition request that John McAfee, the well known cryptocurrency influencer, has pending for its tax-related crimes in the U.S. The entrepreneur was apprehended in October last year in the El Prat Airport where he was going to take a flight. No new dates have been announced for the new hearing. National Court Suspends John McAfee Extradition Hearing The National Court of Spain suspended the extradition hearing of John McAfee this week for tax evasion charges, as was reported by local media. The Court alleged that due to some mistakes in managing the case, the defense would not have been in its full capacity to effectively exert its function. Javier Villalba, the lawyer of John McAfee, had not been able to get the full file of the case before the hearing. John McAfee was apprehended last year in the El Prat airport before taking a flight. Villalba criticized the way that the Spanish justice is deal...
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Bitcoin Miami mania, Dogecoin bounces back, Eth2 woes: Hodler’s Digest, May 30–June 5

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week   Largest Bitcoin event in history kicks off in Miami Sun, sea and satoshis were on the agenda as the biggest Bitcoin event in history kicked off in Florida. Organizers were expecting a huge turnout for the sold-out event, with some predicting there would be more than 50,000 attendees. Day one saw MicroStrategy CEO Michael Saylor reveal more about his experience in the crypto space so far. He said: I realized that I first bought Bitcoin one year ago yesterday, and so this is the end of my rookie year. Twitter and Square CEO Jack Dorsey also declared that Bitcoin changes absolutely everything. He told the conference: We dont need the financial institutions that we have today and for money to be ...
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Traders, analysts offer mixed reactions to El Salvador’s BTC announcement

While some made out the announcement from a Lightning Wallet developer to be historic, the market seems to think it's ho-hum. While it was billed as the “one of the biggest announcements in Bitcoin's history,” the market seems to be puzzling over the landmark reveal that El Salvador’s sitting President will be submitting legislation to recognize Bitcoin as legal tender.  In a presentation at Bitcoin 2021 from Jack Mallers, CEO of Zap — developers of a previously low-profile Lightning Network wallet app named Strike — Mallers showed a short video from Salvadorian president Nayib Bukele where the leader of the 104th largest global economy announced the historic legislation. Strike currently has a 3.2 out of 5 star rating on the Google Play store. “Next week, I will send to Congress a bill that makes Bitcoin legal money,” Bukele said in the video. Welcome to the future #Bitcoin pic.twitter.com/j30vcZVXvJ — Nayib Bukele (@nayibbukele) June 5, 2021 Bukele, who has been cha...
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Top 5 cryptocurrencies to watch this week: BTC, ETH, ADA, SOL, THETA

Bitcoin is on the verge of a trend defining move and if bulls succeed, ETH, ADA, SOL and THETA could rally higher. When the sentiment in the market turns bearish, every bit of negative news, however insignificant, pulls the price down as traders panic sell. This is what happened after China’s social media giant, Weibo, suspended a number of crypto-related accounts and triggered fears that a wider crackdown could occur. In other news, a note from Goldman Sachs said their meetings with 25 chief investment officers of long-only and hedge funds revealed Bitcoin ( BTC ) as the least favorite asset for investment. Crypto market data daily view. Source: Coin360 While the news may be negative in the short term, it is unlikely to change the long-term story of Bitcoin. As the price corrects, several institutional investors are likely to consider crypto investments to hedge their portfolio against the possible surge in inflation in the United States. From the perspective of most traders...
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