• Blockchain and Crypto Jobs Market: 2018 VS 2019 by the Numbers

    The word “blockchain” in the labor market is still in trend.

    Aug 15, 2019
  • Walmart Files Patent Application For Blockchain-Backed Drone Communication

    Walmart has reasserted its interest in blockchain-backed drones with a recent patent application.

    Aug 15, 2019
  • Bitcoin Indicator Flashes a Buy Just as Haven Narrative Falters

    Just as investors begin to question the logic of Bitcoin serving as a refuge amid global financial-market turmoil, a gauge followed by technical analysts suggests there could be more gains ahead. Based on the GTI VERA Convergence Divergence Indicator, which detects positive and negative trends, the largest cryptocurrency has generated a new buy signal based on its weekend trading, which saw prices surge. It’s the first buy signal since June when looking at this indicator and could potentially signal new highs are ahead. The tide is rising for Bitcoin compared with other risk assets, said Mike McGlone, an analyst with Bloomberg Intelligence. “Bitcoin should remain a primary beneficiary of growing demand for its store-of-value, quasi-currency asset properties, similar to gold,” he wrote in a note. “Favorable macroeconomic fundamentals — plunging bond yields and rising stock-market volatility — appear to have endurance and should further differentiate Bitcoin from other crypto assets.” Global markets were rocked on Monday after China devalued its currency in response to the Trump administration’s threat to impose new 10% tariffs on the Asian nation’s goods. Bitcoin, and other digital…

    Aug 8, 2019
  • Report: UK’s Tax Authority Requests User Data From Crypto Exchanges

    The United Kingdom’s tax, payments and customs authority Her Majesty’s Revenue & Customs (HMRC) has reportedly requested that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify cases of tax evasion. Crypto exchanges come under fire According to fintech-focused media outlet Coindesk, industry sources said that the agency has sent letters to at least three crypto exchanges in the U.K., including Coinbase, eToro, and, requesting that they provide lists of users and transaction data. HMRC is reportedly aiming to cooperate with crypto exchanges in a bid to identify individuals who evade taxes. According to the cited sources, the agency will probably only go back two or three years: “If they [HMRC] do only go back two or three years, I think the interesting thing here is, that the individuals who went into crypto very early on in 2012-13 will not be affected. The ones who probably made the largest gains won’t be affected, it will be the people who came in around the time crypto peaked.” HMRC reportedly confirmed that such requests are within the scope of its competence, specifically…

    Aug 7, 2019
  • Walmart Cryptocurrency May Be More Appealing to Regulators

    Walmart, one of the biggest retail chains in the world, is looking to build its own cryptocurrency. And, one expert claims that this digital asset would face way less pushback than Facebook’s Project Libra would. This expert, a senior policy analyst at Cowen, an investment banking corporation, states that while both companies hope to have digital assets and a blockchain, their end goal is different. Jaret Seiberg is the analyst, and according to CoinTelegraph, the man thinks that Walmart’s asset may appeal more to Democratic regulators because it isn’t looking to be a global currency, essentially. That said, he doesn’t believe that this change will give Walmart a free pass with Congress. In fact, the asset could be seen as dangerous to smaller banks and other financial companies. But, regardless, Seiberg believes that this asset will eventually see regulation regardless. While we don’t have a ton of details on the asset, it is believed that Walmart’s asset will be stored on a value card, backed by the United States dollar. Think of it as sort of a rechargeable gift card that anyone…

    Aug 6, 2019
  • Crypto-Currencies Are Poised to Radically Change Finance and Reshape Nations

    In the 18th Century, a venture begun in England established an outpost in the New World around Hudson Bay. The Hudson Bay Company was given license by the crown to exploit the bounty of the Northernmost parts of North America, and eventually a trading network was built out, trading fur, woods, and mineral resources. This network manifested itself primarily through a series of forts that protected general stores, extending as far south and west as Oregon, along the Pacific Coast, forts that would in time become cities like Portland, Vancouver, Toronto and so forth. The Hudson Bay Company used its own special scrip within its territory, the scrip holding value because it could be traded for British pounds as well as establishing more or less standard prices for goods. When Canada was founded in 1867, it established its territory by buying the land from the HBC, and making HBC’s scrip fully convertible to the new Canadian Dollar. In effect, a privately held scrip became the de facto currency of a nation. Empires, kings and potentates have long coveted the right…

    Aug 6, 2019
  • Bitcoin’s Low Correlation With Other Asset Classes Aids as a Portfolio Hedge

    Cryptocurrency exchange Binance recently released a research report that looked at Bitcoin’s limited correlation with other asset classes and its significantly high volatility. Bitcoin has recorded soaring volatility over the past ten years, especially in 2017, when the price of Bitcoin hit an all-time high of $20,000 from a low of $700, indicating a rate of return of about 27,000% in just 12 months. Such instances that indicated the volatility of the coin have allowed people to brand the coin as a highly unstable and risky investment. However, the research suggested that the price volatility of the coin has been subsiding from the time of the genesis block. Additionally, a correlation analysis, which indicates a statistical measurement between multiple assets aiming to study their relationship, was also conducted. According to the analysis, Bitcoin exhibited a low correlation with other asset classes like gold, silver, oil, etc. The price changes of various assets along with Bitcoin at different time spans was also disclosed in the research. The first chart indicated a “three-year weekly return correlations among asset classes”, The second chart illustrated the…

    Aug 5, 2019
  • Bitcoin’s Computing Power Sets Record as Over 100K New Miners Go Online

    The total computing power now dedicated to securing the bitcoin blockchain has set yet another record. According to data from mining services operator, the average bitcoin mining hash rate over the last two weeks has reached 71.43 quintillion hashes per second (EH/s), up from 64.49EH/s on July 23. The threshold was breached as bitcoin adjusted its mining difficulty at block height 586,672 on Monday 2:52 UTC – that is a 6.94EH/s, or 10.78 percent jump since mid July.  Bitcoin mining difficulty is a measure of how hard it is to compete for mining rewards on bitcoin. Just how difficult the bitcoin software makes it to generate new blocks adjusts every 2,016 blocks – approximately every 14 days – to ensure the block production time remains about 10 minutes at the next cycle. Assume this additional 6.9EH/s (or 6.9 million tera hashes per second, TH/s) computing power has all come from powerful ASIC miners, such as Bitmain’s AntMiner S17 or MicroBT’s WhatsMiner M20S, both of which boast a mining rate of around 55TH/s and recently hit the market. That means more than 100,000 top-of-line ASIC miners could have been…

    Aug 5, 2019
  • Bitcoin Price Signaling Bullish Acceleration Above $10,500

    There were decent gains in bitcoin price above $10,200 against the US Dollar. BTC price is likely preparing for more gains above the $10,500 and $10,600 levels. Bitcoin Price Analysis In the past few sessions, there were positive moves in bitcoin price above $10,000 against the US Dollar. The BTC/USD pair broke the main $10,200 resistance level to move further into the bullish zone. Moreover, there was a close above the $10,200 resistance and the 100 hourly simple moving average. It opened the doors for more gains above the $10,400 level and the price tested the $10,500 resistance level. A swing high was formed near $10,491 and the price is currently consolidating gains. An immediate support is near the $10,350 level, plus the 23% Fib retracement level of the recent upward move from the $9,881 low to $10,491 high. Moreover, there is a short term declining channel or bullish flag forming with resistance near $10,400 on the hourly chart of the BTC/USD pair. If there is an upside break, the price is likely to accelerate above $10,450 and $10,500. The next key…

    Aug 2, 2019
  • Central Banks to Hedge Dollar Risks with Bitcoin, Pompliano Predicts

    Every central bank will be buying Bitcoin (BTC) to hedge risks to the United States dollar, according to a forecast by major crypto bull Anthony Pompliano. In a tweet on Aug. 1, Pompliano, co-founder of asset manager firm Morgan Creek Digital Assets, noted the recent news that central banks made the largest historical acquisition of gold. As reported by The Financial Times, global central banks purchased a record of $15.7 billion in the first half of 2019 in order to diversify their reserves from the U.S. dollar amid global trade tensions. According to the report, central banks accounted for almost one-sixth of total gold demand in the period. Bitcoin as a non-correlated asset While the World Gold Council expects geopolitical uncertainty to keep pressure on central banks to build gold reserves, Pompliano now predicts that banks will turn to Bitcoin as a store of value that is unrelated to traditional assets. He wrote: “Wait till they find out about the non-correlated, asymmetric upside profile of Bitcoin. Every central bank will be buying Bitcoin.” The new forecast follows a recent debate on CNBC Africa between Pompliano and…

    Aug 2, 2019
  • UK Finance Watchdog Issues Guidance on Regulation for Bitcoin and Crypto Assets

    The U.K. Financial Conduct Authority (FCA) has finalized its guidance on crypto assets, clarifying which tokens fall under its jurisdiction. Most of the rules issued Wednesday were proposed in consultation paper CP19, which was released for public comment in January. As widely expected, the final guidance does not drastically alter the regulatory landscape, instead specifying when certain types of crypto assets fall under existing categories. True cryptocurrencies like bitcoin and ether, which the FCA classes “exchange tokens,” are not regulated, though anti-money-laundering rules apply. The FCA said some 92 responses to the consultation paper were received from an assortment of firms, including banks, trade associations and crypto exchanges. Most respondents supported the proposals, said the FCA Importantly, the guidance provides a definition of security tokens. When issued, these assets behave like shares or debt instruments, including ownership rights, thus falling under the category of a “specified investment” and, in turn, the FCA’s remit. Almost all respondents who answered the question agreed with the regulator’s assessment of security tokens in relation to the regulatory perimeter. Utility tokens, by contrast, do not grant the same sorts of rights as regulated financial…

    Aug 1, 2019
  • Senate Wrestles With Bitcoin vs. Crypto, Gauges Need for Regulation in Latest Hearing

    The United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing today, July 30, 2019, on cryptocurrency and blockchain regulation. This is the third in a recent spate of cryptocurrency-specific hearings in Congress, which began two weeks ago with Libra’s rounds in both the U.S. House of Representatives and the Senate. Libra’s hearings were notably longer than today’s (two hours and 18 minutes in the Senate and six and a half in the House). Politicians punctuated these sessions with worries over Facebook’s past privacy and data scandals. If Facebook can’t keep our data safe — and moreover, if we can’t trust what it says compared to what it actually does with this data — then why should regulators trust something like Libra with monetary policy?  Within the spectre of these pervasive fears, Bitcoin looked good by comparison. REGULATING THE INEVITABLE  Today’s hearing played out like a follow-up to some of Congress’ broader queries on cryptocurrency during the Libra discussions. Legislators grilled three panelists — Circle’s CEO Jeremy Allaire; University of California at Irvine School of Law professor Mehrsa Baradaran; and…

    Jul 31, 2019
  • Facebook Warns Investors That Libra Digital Currency May Never See the Light of Day

    Facebook reminded investors in its latest quarterly report that while it expects to launch its Libra digital currency in 2020, a number of factors could keep that from happening. In the risk factors section of the report, Facebook said it recognizes the significance of the pushback that’s come from lawmakers and regulators since the project was announced in June. “Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,” Facebook said in its filing with the Securities and Exchange Commission. In addition, market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or blockchain technology, which may adversely affect our ability to successfully develop and market these products and services. David Marcus, who is spearheading the development of Libra and the Calibra digital wallet project at Facebook, has said the currency will be “a more efficient, low-cost and secure alternative”…

    Jul 30, 2019
  • Iran’s Government Officially Legitimizes Cryptocurrency Mining

    Cryptocurrency mining in Iran is now legal, Mehr News Agency reports. This follows a Sunday decision by the country’s cabinet to authorize the mining of cryptocurrencies. Now classified as an industrial activity, cryptocurrency miners will be required to acquire licenses from Iran’s Ministry of Industry, Mines and Trade. The green light from Iran’s cabinet comes about a week since a government committee gave its approval for cryptocurrency mining. This was revealed by the governor of the Central Bank of Iran, Abdolnaser Hemmati, on July 21: “A mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a cabinet meeting.” Will Cryptocurrency miners now flock to Iran? Iran currently has one of the cheapest countries in which to mine cryptocurrency. This is due to the giant subsidies granted to power generation. For instance, in 2017 Iran spent more than $45.1 billion on fossil energy consumption subsidies, per the International Energy Agency. The low electricity prices have consequently attracted crypto miners from other parts of the world including China. However, they are unlikely to remain low as…

    Jul 29, 2019
  • 3 Reasons Analysts Are Bullish on Bitcoin Despite 33% Price Correction

    As Bitcoin dropped an additional 8% on Saturday, naysayers claim the rally to a new all-time high is over. So what is it that’s keeping market analysts bullish in the face of a 33 percent correction?  Bitcoin price bears draw a line at $10,000 Bitcoin’s most recent price action has been less than satisfactory, unless you’re a bear. To date, the top digital asset is down 32% from it’s 2019 high of $13,739 and short term price action remains overwhelmingly bearish.  Over the past two weeks Bitcoin formed an M-top at $13,739 and $13,177 before dropping to the neckline around $9,600. Most traders expect that Bitcoin will retrace to the 61.8% and 50% Fibonacci Retracement level which is also near the CME futures gap. It’s possible that the group think surrounding the CME gap is causing it to function as a magnet, drawing BTC price nearer to the $8,500 – $7,500 range.  Traders will also have noted that Bitcoin has dropped out of the broadening wedge that had carried it from $4,000 to the 2019 high and the parabolic trend…

    Jul 29, 2019
  • ‘However Long It Takes’: Zuckerberg Vows to Win Over Libra Regulators

    Facebook CEO Mark Zuckerberg says the company will spend “however long it takes” to get regulators and others on board before launching the Libra cryptocurrency project. Speaking during a quarterly earnings call on Wednesday, the social media giant’s founder sought to assure investors that Facebook would act responsibly with its development of Libra, the ambitious crypto project revealed last month as a potential payments rail for unbanked individuals. Facebook worked with “prospective members” of its governing council, the Libra Association, to publish its white paper last month in order to address questions about it, he said. “We’re committed to working with policymakers to get this right.” The company initially said it aims to launch the currency in the first half of 2020, but the pushback from regulators and politicians has called that timeline into question. In response to an analyst’s question about timing, Zuckerberg said Facebook’s approach to Libra is “to try and have a very open dialogue,” and that unlike a few years ago, when the company might have just launched a new product, today Facebook tries to detail what specific “ideas and ……

    Jul 26, 2019