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Showing posts from October 31, 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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Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges

Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto exchanges, the chief executive of one of them claims. Iranians Said to Transfer $180 Million in Crypto Daily Despite the lack of proper rules for most of the crypto space and the government stance on the matter, a growing number of Iranians have been investing in decentralized digital money over the past months and years. “An estimated seven to 12 million Iranians own cryptocurrencies,” according to Hamed Mirzaei, CEO of Bitestan, one of the country’s crypto exchanges. “Iranians’ daily crypto transactions is estimated between 30 and 50 trillion rials ($181 million), while there is no regulation over trade in cryptocurrencies,” Mirzaei was recently quoted as saying by Peyvast magazine. According to a report by the English-language business portal Fi...
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BIA Dinner: Alchemy Pay CEO John Tan Celebrates Milestones of 150 Key Nodes and 200K Supporters

Some of the premier figures in crypto gathered at the Waldorf Astoria, Shanghai on October 27th, 2021, to celebrate a new alliance with a mission to advance the blockchain industry. The Blockchain Infrastructure Alliance (BIA) was inaugurated with a dinner hosted by the crypto-fiat payment network, Alchemy Pay , alongside co-hosts Polygon Network, NEAR Protocol, Draper Dragon, and Bit.Store. The event was graced by the presence of over a hundred celebrities and leaders of the industry, including Tencent, Alipay, Mastercard, Binance, Huobi, OKEx, Polygon, NEAR, NEO and many others. At the dinner, John Tan, the CEO of Alchemy Pay, gave an opening speech on behalf of Alchemy Pay a nd took the opportunity to present the company’s ecosystem as well as remark on the outlook for BIA. Tan showed just how much Alchemy Pay’s network had developed. After two years of rapid expansion, the Alchemy Pay ecosystem now boasts more than 150 core nodes, including banks, merchant networks, DeFi proto...
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Investors rug-pulled after pouring $57M into dog-themed OlympusDAO fork

Hong Kong police have reportedly been notified of the incident, with the primary suspect having filed a police report and handed a computer over to authorities. After launching via a Discord channel on Oct. 28, AnubisDAO went on to raise roughly 13,256.4 ETH using Alchemistcoin’s liquidity bootstrapping protocol (LBP) Copper. However, the funds were unexpectedly sent to a different address roughly 20 hours into the LBP. CNBC spoke to one investor who claims to have lost almost $470,000 to AnubisDAO. The investor, Brian Nguyen, conceded to subscribing to a “buy first, do research later mentality,” describing the loss as “pretty painful.” Nguyen noted that he was attracted to AnubisDAO because of its canine-themed branding amid the meteoric gains recently reaped by some dog-token investors after seeing Anubis promoted on Twitter by prominent pseudonymous DeFi advocate “0xSisyphus.” Anubis is the Greek name for the Egyptian god of death and the underworld, with Egyptian imagery de...
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Elon Musk’s Warning About Government Spending and Unrealized Gains Tax Proposal Highlights Benefits of Bitcoin

A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin. Elon Musk Says ‘Spending Is the Real Problem’ Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional. Musk believes that if the proposal were to go ahead, the government would not stop at billionaires. “Eventually, they run out of other people’s money and then they come for you,” he tweeted early last week. Commenting on a Washington Post article stating that he would “pay as much as $50 billion under the tax over its first five years, while Bezos could pay as much as $44 billion,” the Tesla CEO tweeted to his 61.7 million follo...
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Industrial Bitcoin mining breathes new life into tiny Texan town

Major Bitcoin miners have set up shop in a former aluminium smelting plant in the small Texan town of Rockdale. Two Bitcoin mining giants are duking it out for cheap electricity in the tiny town in Texas. Both Bitdeer, a mining firm that spun out from Chinese giant Bitmain, and Riot Blockchain, one of leading publicly traded Bitcoin mining firms in the United States, are operating data centers hosted at a former aluminium smelting facility in the Texan town of Rockdale. The town’s aluminium smelting plant was previously the world’s largest, until the company that ran it, Alcoa, began winding up operations in 2008. According to Lee Bratcher, president of the Texas Blockchain Council, the facility’s energy capacity was wasted from Alcoa’s departure until the miners set up shop. Despite Rockdale comprising a tiny rural town of just 5,600 people, it exhibits all the benefits sought after by industrial-scale miners — crypto-friendly politicians, large plots of land hosting abandoned in...
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Rich Dad Poor Dad’s Robert Kiyosaki Warns US Sliding Into Depression After Giant Crash, Recommends Bitcoin

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has warned that the U.S. is “sliding into depression.” He said that a giant crash is coming, after which “a new depression” will follow. Bitcoin is among his recommendations for smart investing. Robert Kiyosaki Sees Giant Crash Coming, Followed by a New Depression Famous author and investor Robert Kiyosaki has warned of a new depression in the U.S. following a “giant crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. The famous author tweeted Friday that the U.S. is “sliding into depression.” He said President Joe Biden and the Fed are “ripping off people,” noting that they “need inflation to prevent new depression.” Kiyosaki stressed: “Inflation rips off the poor. Inflation makes [the] rich richer. Biden and F...
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Mark Cuban and Voyager CEO Advise How to Get Into Crypto, Offer Tips for New Investors

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto trading platform Voyager have given some advice to people thinking of starting to invest in cryptocurrencies. “You don’t have to spend a lot of money in order to learn. It’s not like the stock market where it’s almost impossible,” Cuban said. How to Get Into Crypto, What Investors Should Know The owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto platform Voyager, Steve Ehrlich, gave some advice on how to get into cryptocurrency last week during the partnership announcement between the Dallas Mavericks and Voyager. They were asked whether it was too late to get into cryptocurrency and what new crypto investors should know. Responding to the question: “Is it too late to get into crypto?” Voyager CEO Steve Ehrlich replied: It’s never too late and, actually, now is the right time. I still think it’s the first half of the first quarter on crypto adoption. “About...
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Bitcoin price descending channel and loss of momentum could turn $60K to resistance

After a slight hiccup in BTC futures premium, traders seem comfortable despite the $58,000 support retest and the risk of $60,000 turning to resistance. Bitcoin ( BTC ) appears to lack the strength to retest the $67,000 all-time high that it reached on Oct. 20 and this is causing investors to question whether or not the bullish moment has faded. Even with the price facing these hurdles, it’s still premature to call the $58,000 support level test the beginning of a descending channel. Bitcoin price in USD at Coinbase. Source: TradingView Among the factors limiting the rally is the regulatory uncertainty in the United States. Anne Termine , a partner in the government enforcement and investigations practice at Bracewell LLP and former chief trial attorney at the Commodities Futures Trading Commission (CFTC), said that “there are no easy answers” for the agency to provide clear rules. Increasing adoption, on the other hand, has been pressuring traditional banks to seek cryptocurren...
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Enjinstarter Announces Successful Completion of Fundraising and Pipeline of Projects for November

PRESS RELEASE. Singapore-based Enjinstarter (EJS) has completed its Token Generation Exercise (TGE), raising a total of $500,000 via a collaborative fund raising effort over 4 launchpads namely Genesis Shards , Chainboost , Starter.xyz and Enjinstarter’s own launchpad. This followed a highly-successful, oversubscribed private sale that raised $5 Million from prominent Crypto VCs and highly influential angel investors from the Blockchain and Digital Assets industry. According to Enjinstarter CEO, Prakash Somosundram, “Enjinstarter’s native token (EJS) presents an exciting opportunity for token holders who want to ride the massive trend of Blockchain Gaming and Metaverses. We are also honoured to have had the strong support of our investors who not just contributed financially, but also supported us through the introduction of key opinion leaders and also to quality projects to feature on our launchpad”. “With an impeccable track record of investing within the crypto gaming sect...
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Ether Inferno: Ethereum Network Burned Over $2.4 Billion Worth of ETH in 87 Days

87 days ago, the Ethereum network successfully implemented the London hard fork upgrade, and ever since then over 700,000 ether has been burned, or more than $2.4 billion using today’s exchange rates. 702,886 Ethereum Burned Since the London Hard Fork Data from Dune Analytics indicates that on October 31, 2021, otherwise known as Halloween, 702,886 ethereum ( ETH ) has been burned. The burning of ethereum started on August 5, 2021, when the Ethereum network successfully implemented the London hard fork upgrade and EIP-1559. At the time, the London hard fork upgrade included roughly five different changes but the most transformative were EIP-1559 and EIP-3554 . While EIP-3554 changed the Ethereum network’s difficulty bomb, EIP-1559 changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Just recently, Ethereum implemented the Altair upgrade which helps smooth the consensus process from proof-of-work (PoW) to proof-of-stake (PoS). After Altair w...
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Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, MATIC, FTM

Bitcoin is witnessing modest profit-booking, but the long-term trend remains intact and altcoins like ETH, BNB, MATIC and FTM may remain in focus in the short term. The weekend failed to ignite bullish momentum from crypto investors and both Bitcoin ( BTC ) and Ether ( ETH ) turned down on Oct. 31. The bulls will now try to achieve the third successive weekly close and the first-ever monthly close above the psychological $60,000 level. $63,000 is another level of interest for traders because the stock-to-flow creator PlanB, projected this level as the “worst-case scenario” for October. In the recent past, PlanB’s worst-case theory was proven to be correct in August and September. Crypto market data daily view. Source: Coin360 Apart from the near-term interest, investors should remember that Bitcoin was launched on Jan. 3, 2009, at a price of $0.0008 and from there rallied 8,374,999,900% to hit a high at $67,000 . The journey for the hodlers was not easy as there were several...
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Inside the blockchain developer’s mind: What is a testnet?

By familiarizing themselves with the nuances of testnets, blockchain developers can become better equipped to evaluate specific testnet releases. Cointelegraph is following the development of an entirely new blockchain from inception to mainnet and beyond through its series, Inside the Blockchain Developer’s Mind. In previous parts, Andrew Levine of Koinos Group discussed some of the challenges the team has faced since identifying the key issues they intend to solve and outlined three of the “crises” that are holding back blockchain adoption: upgradeability , scalability , and governance . Blockchain testnets are an interesting subject because they come in all shapes and sizes. So, in this post, my goal is to leverage my inside experience as the CEO of Koinos Group (developers of Koinos) to demystify testnets and perhaps give some insight into why they seem to have such an impact on price. The most obvious place to start is with the name: test net. The purpose of a testnet i...
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What is the worst nightmare that could happen to crypto? Experts answer

What are decentralized-tech representatives most scared of? And what are their deepest fears in the crypto space? Tim Draper of Draper Associates and Draper Fisher Jurvetson: Tim is a pioneer of business ventures in the United States and a co-founder of Draper Fisher Jurvetson, a leading investment firm in early-stage tech startups. “I am fearless long-term. Bitcoin is coming. Short-term, it is spooky that some people are willing to give up this gift of freedom and trust in favor of government controls. Government controls have destroyed a lot of people’s lives and freedoms.” These quotes have been edited and condensed. The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Sheila Warren of the World Economic Forum: Sheila is the head of data, blockchain and digital assets at the World Economic Forum. “My worst nightmare with the crypto industry is that it will start to b...
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Dogecoin, Shiba Inu, Dogelon Mars Lead the Pack of 45 Doge-Like Tokens Capturing Astronomical Gains

2021 has been the year of decentralized finance (defi), non-fungible tokens (NFTs), and meme tokens as well. During the first week of August, roughly 30 dogecoin-like crypto assets existed and today, there are now 45 tokens with the terms “dog,” “shiba,” and “inu” in their names. Many of these coins have seen astronomical gains this year, outperforming some of the most sophisticated blockchain assets. Who Let the Dogs Out? Doge-Like Meme Tokens Are No Joke When it Comes to Market Gains Digital meme-based currencies have done extremely well this year in terms of fiat gains. At the beginning of the year, all eyes were on dogecoin (DOGE) , when the original meme crypto skyrocketed in value. Dogecoin has gained a whopping 10,360% year-to-date which is much larger than BTC ’s 350% gain this past year and ETH ’s 1,014% 12-month gains. After spending years below a U.S. penny per token, DOGE surged to $0.731 per unit six months ago on May 8. Close to eight years ago the Dogecoin network ...
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Bitcoin set for record monthly close with BTC price still below 'worst case scenario'

$60,000 would be a monthly record, but longstanding analysis demands a minimum of $63,000 by the start of November. Bitcoin ( BTC ) delivered fresh retests of $60,000 support on Oct. 31 with a matter of hours left until the crucial monthly close. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Record monthly close hangs by a thread Data from Cointelegraph Markets Pro and TradingView  showed lackluster price action on Sunday, with BTC/USD below the "worst case scenario" for its October close. Analysts were eagerly awaiting to see if the end of the month could provide a turnaround and prove the worst case theory correct for a third month running. Its creator, PlanB, father of the stock-to-flow model, correctly guessed the $47,000 and $43,000 finales for August and September respectively. Even without succeeding, however, finishing October above $60,000 would mark several achievements in itself. If #Bitcoin closes the week tomorrow above $60k, it would...
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Bitcoin white paper turns 13 years old: The journey so far

The Bitcoin white paper only has nine pages, yet it contained enough to change the world. Here's how it came to be 13 years ago. The 13th birthday of the Bitcoin ( BTC ) white paper has crept up just as the world continues to deal with a global pandemic, inflation fears, an astounding memecoin mania trend  and growing institutional adoption of the cryptocurrency space. On October 31, 2008, Satoshi Nakamoto released the Bitcoin white paper to a cryptography mailing list hosted by Metzdow. The Metzdow mailing list was run by a group of cypherpunks and was filled with ideas meant to create a form of digital currency: some of these have even been cited in the Bitcoin white paper. Satoshi’s white paper came in a message titled "Bitcoin P2P e-cash paper," in which Nakamoto explained that his digital currency is fully peer-to-peer (P2P) and requires no trusted third party for a transaction to occur. Through a peer-to-peer network, Bitcoin solved the double-spending problem....
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