• The Investment Trend Has Changed? Digital Currency Is No Longer Suitable for Investment

    The year of 2019 has witnessed a shift in investments from focusing purely on digital currency to convergence applications.

    Aug 14, 2019
  • New Zealand Rules Receiving Income in Bitcoin Is Legal

    New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed.

    Aug 13, 2019
  • Despite Bitcoin “Gold 2.0” Narrative, Long-Term Correlation With Gold Remains Loose

    UU.Block Comments:The global market value of gold is about 7.4 trillion US dollars. The current market value of Bitcoin is 212.32 billion US dollars. Bitcoin needs to be 34 times more than the current price of 11,877 US dollars, reaching 400,000 US dollars, in order to balance the global market value of gold.Gold has always been a hedge asset for governments to deal with the incompetence of money supply. In the current world, Bitcoin is an option to avoid legal currency and excessive financial regulation.Bitcoin and gold are not on the same track, although they are occasionally related in the short term.The traditional equities markets have been caught in a tailspin over the past couple of days due to increasing tensions between the U.S. and China that have escalated the trade war into a full-fledged currency war. At the same time, Bitcoin (BTC) has been incurring decent upwards momentum, which has strengthened the “digital Gold” narrative.Despite this, one analyst is quick to note that Bitcoin’s correlation with Gold still remains fairly loose, making it speculative to believe that BTC is…

    Aug 8, 2019
  • Bitcoin Is Not a Safe Haven Asset

    Risk assets across the world slumped after President Donald Trump threatened to impose a 10% tariff on Chinese imports that weren’t yet subject to levies. China responded on Monday, letting the yuan tumble to its weakest in more than a decade and asking state-owned firms to stop importing U.S. agricultural products.The Chinese trade dispute escalation is just one point on a growing list of geopolitical disruptions worldwide: Tensions are rising between the U.S. and Iran over its seizure of foreign oil tankers in the Persian Gulf. Uncertainty is also flaring in India, where the government scrapped the special status for a troubled state. In the U.K., analysts are warning of the potentially disastrous consequences of a no-deal Brexit. That’s allowed investors to seek shelter elsewhere, including digital assets.Piling into digital assets when markets are rocked is a relatively new phenomenon. In times of turbulence, investors typically park money in assets such as U.S. Treasuries, which are government-backed, or gold, which is seen as a hedge against inflation and a weakening dollar. Buying the Japanese yen is also a classic trade: The…

    Aug 7, 2019
  • Bitcoin Could Hit a New High This Week, Factors and Trends

    Weekend trading for Bitcoin has been bullish but things really started to take off during Asian trading this morning. As BTC tapped a twenty four day high, it is now only $2k away from its 2019 peak and reaching it this week is not out of the question.BTC Taps $11,800Bitcoin has not looked back since it passed the psychological $10k barrier late last week. Over the weekend it hovered just below $11k but during Asian trading this morning BTC surged almost 10 percent powering up to a high of $11,800. The move has sent prices to a 24 day high as volume surged 50 percent to over $21 billion.Total crypto market capitalization has climbed back above $300 billion again but as usual, the altcoins are not sharing the love. There is now only $2,000 to go before a new 2019 high is made and BTC could be on track to do that this week.Bitcoin is currently at resistance with the next being at $12,400. After that it could surge to $13k and then on to surpass its previous peak. It is also…

    Aug 6, 2019
  • Why Should Ordinary People Allocate a Few Digital Assets?

    On July 28, Aurora, Vice President of ZB Group, attended the financial innovation forum of the First Taiwan Blockchain Week. When talking about impact of trade conflicts between China and the United States, Japan and South Korea on digital currencies, Aurora said, “It may trigger investor concerns about tax increases, interest rate cuts and inflation. Risk aversion will prompt more investors to invest their money in digital currencies field. ” In terms of asset allocation that many people care about, Aurora believes that there are three advantages to allocate digital assets. One is to hedge macroeconomic risks; The second is to control the property ownership in own hands through the decentralized structure of blockchain; Third, there is still considerable room for growth and appreciation of digital assets.For the three advantages Aurora said, I think there is a certain reference value. So, I will take Bitcoin as an example and briefly analyze it.Hedge macroeconomic risksBitcoin is the most reliable hedge against Venezuela’s hyperinflation.Trade Economics stated that the central bank’s statistics showed that the Venezuelan economy shrank over twenty-two percent (22.5%) at the end of 2018 and then recently, over…

    Jul 31, 2019
  • People Are More Willing to Invest in Bitcoin Than Libra

    Not long ago, Facebook had agreed to pay more than $5 billion in fines to end US lawsuits against the company’s abuse of user data, and agreed to implement new privacy protections, including setting up a privacy committee independent of the board and appointing personal privacy regulatory officer. However, according to the latest research data from CivicScience in the United States, Libra’s trust is only 2% compared to Bitcoin. Although the sample of the survey questionnaire is not large enough, it is clear that once the crisis is formed, the cost of building trust will be surprisingly high. At the same time, it also revealed that the position of Bitcoin in the cryptocurrency industry will be difficult to be shaken in the future.Recently, CivicScience’s survey of 1,799 Americans showed that people’s trust in Libra and its related Calibra wallet compared to Bitcoin and other cryptocurrencies and their corresponding wallets showed:1% show they trust Libra more1% show they trust Libra more than other cryptocurrencies19% believe that all cryptocurrencies are the same5% show they trust BTC far more than Libra35% show they trust Libra “far less…

    Jul 29, 2019
  • Bitcoin Has Regained $10,000 Today, the Current Trend of $100,000 Is Still Expected

    Bitcoin rose more than $10,000 on the morning of July 25 after nearly two weeks of downturn.For the recent market, famous analyst Aayush Jindal predicts that the latest resistance of Bitcoin is close to $10,000 from the BTC/USD hourly chart. Therefore, a short-term recovery may occur at a price above $10,000. At present, the price of Bitcoin is $10072.87. If it is maintained at a price above $10,000, then it may continue to rise.In fact, the current price of Bitcoin has completely broken the optimistic forecast of most analysts.When Bitcoin broke through $12,000 for the first time a month ago, eToro analyst Simon Peters said in a public comment that Bitcoin could reach $20,000 in the next 7 to 14 days. Peters gave two reasons for this conclusion. First, after the last Bitcoin reached $11,800, it took about one to two weeks to reach $20,000, which is an upward trend driven by investors’ FOMO. Second, Facebook’s Libra project has injected a new possibility into the encryption space, which will cause Bitcoin price to rise over time.Peters’ predictions did not stop there. In a…

    Jul 25, 2019
  • You Don’t Know Something About Bitcoin Mining

    According to bitcoin’s basic algorithm, bitcoin generates a block every 10 minutes, with N bitcoins in each block as compensation (the number of N is explained below). This block contains all bitcoin transaction information in the last 10 minutes. The process of making bitcoin is called “mining”. In this process, the computer packs the recently received bill into the newly made block. This packaging process is the manufacturing process, and there is only an extremely rare chance that it will be successfully made.(You can understand that the newly received bills are put together, one can’t be modified, and once the manufacturing fails, it will come again.) Once the manufacturing is successful, you broadcast the block, which means that you have obtained N bitcoins in this block as compensation.So what is N? According to the Bitcoin algorithm, in the first 4 years from the date of Bitcoin release, N = basic compensation (50 bitcoins) + transaction compensation(transaction fees for the entire bitcoin network in the past 10 minutes, each bitcoin transaction will consume 0.001 bitcoin as reward for miners). Every 4 years, the basic…

    Jul 24, 2019
  • Bullish For Bitcoin? Trump Turns Up Pressure on Federal Reserve to Cut Interest Rates

    UU.Block Comments:Trump, consideration for his achievements, hopes that the Fed can cut interest rates and let the US economy continue to expand.The interest rate cut is a good performance for the US government. The US dollar has expanded globally, domestic investment has increased, and employment has been promoted.The Fed’s interest rate cut will benefit capital markets in the short term, such as gold prices, other commodity price trends, Chinese imports, the stock market and Bitcoin. At present, the market value of the entire digital currency market is still small, and it can not accommodate the investment of too many institutions. The digital currency is less affected by the market interest rate cut.Interest cuts are good for Bitcoin, but the increase is limited.What we should pay more attention to is the ten-year cycle of interest rate cuts by the US dollar. The Fed manipulates the liquidity of the US dollar to affect the world economy and regularly lick wool from all over the world. President Trump is continuing to pressure the Federal Reserve for dragging its feet on interest rate cuts. For some, such…

    Jul 23, 2019
  • Bitcoin Fell Below $10,000. Is This the Response of Encryption Market to Libra Hearing?

    In the early morning of July 17, Bitcoin plummeted by a thousand points, and the lowest fell to $9355, breaking the 60-day moving average. It also fell below the 60-day moving average for the first time since the formation of the bitcoin trend, forming the biggest correction. As of press time, Bitcoin temporarily remained near $9374.57, falling by 10.70% within 24 hours.In addition to Bitcoin, 93% of the top 100 cryptocurrencies have seen significant declines. Among them, ETH fell 13.69%, XRP fell 5.91%, EOS fell 15.44%.The general decline in the encryption market was at the time of the Libra hearing in the United States, which forced people to consider the connection between them.At 22 o’clock on the evening of July 16th, Beijing time, Senate Banking Committee held a hearing on the Facebook encryption project Libra. The Libra digital currency and data privacy issues became the subject of this hearing.Since the Senate Banking Committee Chairman Mike Crapo announced the official start of the Libra hearing, the globally-acclaimed hearing began more than two hours of question-and-answer wars.The first question asked by the…

    Jul 17, 2019
  • Bitcoin Price Has Soared for Ten Years. What Is the Real Reason?

    Although bitcoin fell 11.6% at the beginning of this week, it is still hovering around $10,000. Pulling the long axis of time, bitcoin price has soared for 10 years, what is the real reason?The main answer to this question is the monetary policy and quantitative easing policies of various countries. What the central banks did after the financial crisis at the end of 2008. From 2008 to 2009, after the bankruptcy of Lehman Brothers, the Fed rescued the market as the “final lender” and decided to purchase 300 billion US dollars of long-term treasury bonds and acquire a large amount of mortgage loans. At this stage, the Fed directly intervened in the market, directly funding the companies that are in trouble, and directly acted as an intermediary to directly release liquidity to the market. At that time, the central banks of other countries also made unexpected decisions. After the four major tools of monetary policy failed (reserve ratio, open market business, discount policy, benchmark interest rate), quantitative easing regulation was locked into a long-term low Interest rates.  Central banks continue to inject liquidity into the…

    Jul 16, 2019
  • The US Congress Drafting Bill Again Suppresses Libra, Which May Be Good News for BTC

    UU.Block CommentsRegardless of Libra’s fate, Facebook and the US government are big winners. Although Libra has a short-term impact on the dollar, the dollar is more used for bulk commodity trading. Libra anchors bank deposits, government bonds, and a basket of currencies to measure the value of goods, while serving as a medium for small-value goods and services, and as a target to enter the category of public wealth storage. Even if Libra does not have the status of a global legal currency, it can fully operate as a digital currency in the field of goods and services like Bitcoin, and the value space created for it by a large user group must be much broader than any other digital currency. This draft is more like cake distribution. Libra will certainly represent a wider range of interests in the United States.A draft discussion bill titled “Keep Big Tech Out of Finance Act” had surfaced on July 13 afternoon.The bill aims to prevent tech colossuses from becoming financial institutions. It also seeks to prohibit these companies from “establishing, maintaining, or operating a digital…

    Jul 15, 2019
  • 16 Industries That Will Be Revolutionized by Blockchain 2

    In the article “16 Industries That Will Be Revolutionized by Blockchain 1“, I have introduced the significance of blockchain to eight industries, including banking, cyber security, supply chain management, networking & the Internet of Things, insurance, private transport & ride sharing, cloud technology, charity, then I will continue to introduce the impact of blockchain in voting, government, healthcare, energy management, online music, retail, real estate, crowdfunding.9 VotingBenefit: Security and integrity; TransparencyImplementation Facts:Sierra Leone is the first country with blockchain-verified electronic voting in 2018.Russia tested blockchain to protect 2018 presidential exit poll data.The Blockchain allows for the creation of publicly viewable, time stamped and signed transactions (records) that cannot be altered or deleted.Adopters10 GovernmentBenefit: Eliminate government/third party involvement; Enable transparent, fast, cost-efficient transactions; Reduce corruption at the state level; More opportunities for companies to manage their assets; Secure assets and assure data privacyImplementation Facts:Dubai is aiming to put all its government documents on the blockchain by 2020.GovCoin is a UK-based company that is helping the government to distribute public benefits using blockchain technology.Adopters11 HealthcareBenefit: Complete medical histories of patients for use by physicians; Tamper-resistant means of storing medical histories; Reduce time and increase…

    Jul 11, 2019
  • 16 Industries That Will Be Revolutionized by Blockchain 1

    With all the buzz around bitcoin, blockchain has been in the trend for almost two years and you’ve probably heard about how it will revolutionize the banking and any sector related to the finance industry.Blockchain, however, is more than just bitcoin’s shared ledger. Yes, it is an online ledger that simplifies the way we carry out transactions. But this shared ledger can be utilized to store any transaction and track the assets’ movement, regardless of the nature they may be- intangible, tangible or digital.Different from a bank’s ledger which has a centralized network, blockchain protects the user’s identity and is anonymous. Therefore, making it a more secure way to carry out a transaction.While bitcoin’s popularity has proved useful in proving blockchain’s usefulness in the finance sector, experts believe that blockchain can transform many more industries. Blockchain has many uses beyond bitcoin; bitcoin is only the first use case for blockchain. Otherwise, in simple terms, you can imagine blockchain as an operating system- MacOS or Microsoft Windows, and bitcoin as only one of the applications that can be run on that…

    Jul 10, 2019
  • PBoC Will Create Cryptocurrency to Meet Libra Challenge

    The release of the Libra white paper has brought the participants in the traditional financial technology field to the enemy, and has also promoted global geopolitical competition. The US Congress expressed opposition. The SEC decided to relax the regulatory barriers to cryptocurrencies, speed up the global rules for cryptocurrency regulation, and China is releasing the layout signal to create cryptocurrencies.Recently, the People’s Bank of China (Branch in Shenzhen) said that the trade blockchain platform created by the People’s Bank of China has processed more than 30 billion CNY (about 4.36 billion US dollars) of foreign exchange transactions. The platform has access to 28 banks and 483 outlets. The use of blockchain technology avoids slow paper tracking between multiple receiving departments in a traditional banking environment. Next, the platform will accelerate ecological construction and nationwide promotion, and is ready to interface with similar platforms such as HKICL to provide more convenient trade financing services. In the future, the platform will connect to more similar platforms of national and international organizations.According to South China Morning Post, Wang Xin, director of the Research Bureau…

    Jul 10, 2019

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