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Showing posts from July 10, 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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Get Paid for Excrement: This Eco-Friendly Toilet Pays You in Digital Currency

An eco-friendly toilet that pays people in digital currency for using it has been installed at a university in South Korea. The toilet is connected to a laboratory that uses excrement to produce biogas, which is used as a source of energy at the university. Get Paid in Digital Currency to Use a Toilet There is now a toilet that pays you in digital currency for using it. It was designed by a South Korean professor of environmental engineering at the Ulsan National Institute of Science and Technology (UNIST) and is already in use, Reuters reported Friday. The institute is one of the four public universities in South Korea dedicated to research in science and technology. The toilet is called Beevi, a portmanteau of the words bee and vision. It is connected to a laboratory that uses excrement to produce biogas and manure. When in use, a vacuum pump sends feces into an underground tank, reducing water use, and the excrement is broken down to methane by microorganisms. This turns into a...
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Crypto exchanges: Bridging the gap between sovereignty and performance

The crypto dream is to make the exchange of value global and frictionless, but security and scalability concerns are driving constant trade-offs. Back in 2019, an estimated 99% of crypto-asset transfers took place on centralized exchanges (CEXs), according to the number that was used by main crypto critic Nouriel Roubini. CEXs are likely to remain a central fixture of the crypto trading landscape for the foreseeable future. CEXs are fast and convenient, but typically require traders to deposit funds in an account controlled by the exchange. Unfortunately, history illustrates that this loss of sovereignty over a user’s digital assets can be an extreme and costly compromise.  Decentralized exchanges (DEXs) offer an intriguing alternative and are gaining momentum , but are still not yet ready for prime time. Therefore, there must be a way to bridge the gap between user sovereignty and exchange performance. Related: DeFi proved resilient during the March 2020 and May 2021 market...
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US Senator Invests in Bitcoin and Ethereum via Grayscale

U.S. Senator Patrick Toomey has declared investments in Grayscale’s bitcoin and ethereum trusts. His declaration shortly followed one by fellow congressman, U.S. Representative Barry Moore, who declared that he had invested in dogecoin, ether, and cardano. Senator Pat Toomey’s Cryptocurrency Investments A growing number of U.S. lawmakers are investing in cryptocurrencies or crypto-related investments. According to a Periodic Transaction Report filed on July 7, U.S. Senator Patrick Toomey from Pennsylvania declared two personal cryptocurrency investments, each worth between $1,000 and $15,000. One was in Grayscale Bitcoin Trust (GBTC) and the other in Grayscale Ethereum Trust (ETHE). Senator Pat Toomey’s Periodic Transaction Report showing investments in Grayscale’s bitcoin and ethereum trusts. Source: US Senate. The senator’s investments have decreased in value since his purchases. He invested in Grayscale Bitcoin Trust (GBTC) on June 15 when the price was around $33.23. At the...
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Thailand Sees Rising Adoption of Cryptocurrencies as Means of Payment — Warns of Risks

Bank of Thailand says a growing number of companies are asking for payments in cryptocurrencies, such as bitcoin and ether. The central bank reiterates its stance on crypto and warns of the risks of using them as a means of payment. The Bank of Thailand (BOT), the country’s central bank, issued a warning notice titled “Caution on Using Digital Assets as Means of Payment for Goods and Services” on Thursday. The notice explains that some enterprises have recently begun soliciting payments for goods and services in cryptocurrencies, naming bitcoin ( BTC ) and ether ( ETH ) as examples. The Thai central bank reiterated its stance that digital assets are not legal tender and it does not support their use as a means of payment for goods and services. The bank detailed that using cryptocurrencies as a means of payment leads to risks for both buyers and sellers, “such as price volatility, cyber theft, and money laundering.” Thailand’s central bank clarified: Should the use of...
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3 reasons why Constellation (DAG) price outperformed most altcoins this week

A pivot toward DeFi, new wallet release and low transaction costs back DAG’s rapid rally to a new all-time high. The concerns voiced about the consensus mechanisms of Bitcoin ( BTC ) and Ethereum ( ETH ) have played a part in the sideways price action both assets have seen over the past two months, opening the door for other competing projects to gain attention.  One project that managed to overcome the sideways action in the market and rally to a new record high on July 10 is Constellation (DAG), a protocol that utilizes a directed acyclic graph architecture to achieve a consensus that is theoretically capable of infinite scaling. Data from Cointelegraph Markets Pro and TradingView shows that the price of DAG rallied 353% from a low of $0.037 on June 22 to a new record high at $0.17 on July 10. DAG/USDT 4-hour chart. Source: TradingView Three reasons for the strong showing from DAG include the release of a functioning decentralized exchange, an expanding list of global ...
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Ukraine Uncovers Country’s Largest Illegal Mining Farm to Date

The Security Service of Ukraine (SBU) has located a massive coin minting facility that was illegally connected to the power grid in Vinnytsia. Law enforcement officials claim it’s the largest underground crypto mining farm they have found so far. Ukraine Seizes Thousands of Video Game Consoles Mining Crypto With Stolen Electricity Ukraine’s main law enforcement authority, SBU, announced this week it exposed a large-scale electricity theft in the city of Vinnytsia, in west-central Ukraine. The stolen power was used to mint digital coins in what officials described as the country’s largest illegal crypto farm uncovered to this day. Source: SBU The mining facility was set up by residents of Vinnytsia and the capital Kyiv in a former warehouse of JSC Vinnytsiaoblenerho, the agency said in a press release published on its website. They were able to conceal the theft from the distribution company using electricity meters that did not show the true energy consumption. During the sear...
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Options traders aim for $100K Bitcoin by the end of 2021, is there a chance?

How realistic is it that a majority of Bitcoin investors are aiming for a $100,000 BTC price by the end of 2021? Bitcoin ( BTC ) investors are known for being bullish, and even during 50% corrections like the current one, most analysts remain optimistic. One reason for investors' endless optimism and belief in infinite upside could be BTC's decreasing issuance and the 21 million coins fixed supply limit. However, not even the most accurate models, including the stock-to-flow (S2F) from analyst Plan B , can predict bear markets, crashes, or FOMO-induced (fear of missing out) pumps. Traders usually misinterpret these concepts as value and price expectations can be easily mistaken. Bitcoin does not exist in a vacuum, even if BTC maximalists think so. Therefore, its price action heavily depends on how many dollars, euros, and yuans are in circulation and interest rates, real estate, equities, and commodities. Even global economic growth and inflationary expectations impact the ...
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Stock-to-Flow Bitcoin Price Model Criticized as BTC Price Ratio Matches 2019 Statistics

During the last week, crypto enthusiasts and traders have been discussing the stock-to-flow (S2F) bitcoin price model created by the pseudonymous crypto analyst “Plan B.” Despite Plan B’s worst and best case scenario calls on June 20, a touch over a week later the analyst said the “next 6 months will be make or break for S2F.” Currently, the S2F model has seemingly run off course and resembles the levels it saw in January 2019. S2F Skepticism and the ‘Make or Break’ S2F Timespan There’s some skepticism toward Plan B’s infamous stock-to-flow (S2F) bitcoin price model ever since the closing price in June recorded below the S2F’s projected course. The model’s creator, however, would not necessarily use the terms “off course” but “just touching lower bands.” Plan B’s price model chart shared on July 1, 2021. Plan B recently explained his “worst case scenario for 2021,” where he predicts prices to end up being around “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.” Ho...
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Binance news, Circle plans to go public, and bullish crypto comments: Hodler’s Digest, July 4–10

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   US financial regulator FinCEN hires its first-ever chief digital currency adviser The United States Financial Crimes Enforcement Network, or FinCEN, filled a new role that of chief digital currency adviser , unveiled on July 6 , recruiting Michele Korver for the job. Korver has an array of experience in crypto regulation, including serving as digital currency counsel for the United States Department of Justice. Ms. Korver will advance FinCENs leadership role in the digital currency space by working across internal and external partners toward strategic and innovative solutions to prevent and mitigate illicit financial practices and exploitation, said a public statement from FinCEN describi...
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Key altcoin price metric flashed bullish ahead of Axie Infinity’s parabolic rally

Dramatic price action often follows familiar patterns of market and social activity, and data from Cointelegraph Markets Pro shows there is a way for traders to capitalize on this. Axie Infinity (AXS) has had  a rough week : On July 1, it was trading at just above $5. One week later and following two consecutive two-day rallies, the price was charging past $19. AXS price has since dropped between $18 and $19, yet the coin’s weekly stats are still outstanding: 118% against United States dollar and 119% against Bitcoin ( BTC ) in a week. As AXS sits on top of the seven-day price change chart , many traders are wishing that they could have known earlier in the week that the asset was ready to explode. While it is impossible to see into the future, more often than not, solid knowledge of historical precedent can be helpful in identifying opportunities early. That is, if you have the right optics to recognize patterns that previously spelled huge gains. VORTECS™ score, an AI-powered...
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GBTC unlock edges closer as impact on Bitcoin price remains unclear

Contrary to JPMorgan’s analyst, the major GBTC unlock on July 18 might not put any downside risk on BTC’s spot price. As Bitcoin ( BTC ) struggles around the $32,700 mark after the July 8 price drop, another major event looms over the flagship cryptocurrency in July , the Grayscale Bitcoin Trust (GBTC) unlock. A total of nearly 40,000 BTC will be unlocked in July, amounting to nearly $1.5 billion in notional value. The biggest of these unlocks will be on July 18 when 16,240 BTC will be available due to the release of the six-month lock-in period for GBTC shares.  The tranche of shares consists of positions locked in Q1 2021 with a notional value of around $530 million, making this the largest GBTC unlocking event to date. Grayscale Investments is one of the largest institutional fund managers for digital currencies that allow institutional investors to gain exposure to Bitcoin’s price action through the GBTC shares.  At the time of writing, the GBTC fund holds 654,600 B...
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Tiktok Bans Users From Promoting Cryptocurrencies

Tiktok has banned its users from promoting all financial products and services including those related to cryptocurrency. The company also prohibits ads relating to cryptocurrency. Tiktok Prohibits Users From Posting Content Promoting Cryptocurrencies Social media platform Tiktok has banned content promoting cryptocurrencies and related products and services. The company’s “Branded Content Policy” states: All financial services and products are prohibited, including but not limited to … cryptocurrency. Among the list of other prohibited products and services listed as examples are lending and management of money assets, loans and credit cards, trading platforms, cryptocurrency, foreign exchange, pyramid schemes, and investment services. Under Tiktok’s advertising policies, the company also prohibits ads relating to cryptocurrency. In most countries, including the U.S. and the U.K., Tiktok bans “Ads promoting virtual currencies/cryptocurrencies (e.g. bitcoin and ethereum), as we...
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