Business

  • GM Files Patent Application for Blockchain Distributed Map

       Automobile giant General Motors has filed an application with the US Patent and Trademark Office seeking a patent for what it calls a Decentralized Distributed Map Using Blockchain, Forbes reports. The company reportedly believes that blockchain technology can reduce the costs associated with current vehicle mapping systems.According to the text of the application, the envisioned distributed map will be:“A system for updating a distributed navigation map for a motor vehicle includes one or more sensors that evaluates and characterizes a surrounding around the motor vehicle and a discrepancy detector that identifies differences in the surrounding compared to a known navigation map based on information received from the one or more sensors. The differences are transmitted to a blockchain map network.”As Forbes notes in its piece, current navigation mapping systems rely on technology that delivers detailed maps to motor vehicles, showing the car’s location in relation to its surroundings and a desired destination. That requires dynamic feedback that can be difficult to maintain. The envisioned system will rely on sensors and a blockchain map network to more efficiently evaluate a vehicle’s…

    Apr 5, 2020
  • The Last Time Ethereum Saw Exchange Balances This High It Rallied 4,600%

    Ethereum has been caught within a tempered uptrend in the time following its recent rally from sub-$100 lows, with the cryptocurrency forming a very strong correlation to Bitcoin – which has been firmly guiding the markets throughout the past several months.It now appears that one fundamental metric is flashing a highly bullish sign for Ethereum, as exchanges’ ETH balance is currently at levels not seen since December of 2016, with this metric having an inverse correlation with future price trends.This may suggest that ETH is on the brink of seeing a breakout rally, and if history rhymes, it could be significant.Ethereum Sees Bout of Sideways Trading as Crypto Bulls and Bears Reach an ImpasseEthereum is currently caught within a somewhat large trading range between $125 and $145, as these are the two levels at which the cryptocurrency has been caught between throughout the past couple of months.This range-bound trading has come about in tandem with that seen by Bitcoin, which has been stuck within the $6,000 region in the time following its rebound from lows of $3,800.At the time of…

    Apr 5, 2020
  • Failure to Test 6949 Pushes BTC/USD Lower: Sally Ho’s Technical Analysis 5 April 2020 BTC

    Bitcoin (BTC/USD) continued to orbit the 6800 level early in today’s Asian session as the pair weakened from the 6915.17 area during yesterday’s European session and traded as low as the 6658.16 area early in yesterday’s North American session. Prior to the pullback, the pair has been orbiting the psychologically-important 7000 figure, after recently trading as high as the 7292.11 level, a multi-week high, before paring gains lower to the 6650.00 area.   Stops were recently elected above some key technical levels during this sharp move higher.  These levels include the 6979.43 level, an upside price objective related to upside buying pressure that emerged around the 3858 level in March, followed by Stops that were triggered above the 7059, 7101, and 7234 areas.  A couple of clues emerged late in the week including traders’ inability to push BTC/USD above the 6949.09 area during a retracement higher, a level that represents the 50% retracement of the depreciation from 7292.11 to 6606.06.Some of these upside price objectives were related to buying pressure that emerged around the 5001.00 level, another important technical level that…

    Apr 5, 2020
  • Bitcoin’s Hedging Performance in the Wake of the Coronavirus Outbreak

    The recent coronavirus outbreak has far-reaching consequences beyond the spread of the disease and efforts to quarantine it. Recently, we’ve experienced one of the most severe stock market crashes in modern times: On March 9, 2020, the Dow Jones Industrial Average recorded a drop of -7.8%, which happened to be its worst single-day loss ever. However, on Thursday, March 12, 2020, the Dow then recorded the fifth-largest drop in modern history based on percentage points by a staggering amount of almost 10%. Unfortunately, the losses did not stop there. Four days later, on March 16, the Dow hit a new record of almost 13%. Since the COVID-19 outbreak became an international issue, it is unsurprising that equity markets worldwide have experienced severe losses.In acknowledging the ability of Bitcoin (BTC) to hedge stock market risk, some economists and researchers refer to Bitcoin as “digital gold.” Some studies argue that Bitcoin is exposed to tail-risk only within the crypto markets, but it is not exposed to tail-risk with respect to other asset markets, such as equity markets or gold. However, the recent…

    Apr 5, 2020
  • Bitcoin At $7,000, FATF Regulation, Coinbase Backs Ethereum DeFi

    Another week, another round of Crypto Tidbits. Over the past week, Bitcoin has performed rather well, rallying from $6,100 to $6,800 as of the time of this article’s writing, a few percent shy of the multi-week high of $7,200. Altcoins followed the market leader, posting similar gains.Bitcoin remains below the key resistance around $7,000, which some analysts have dubbed a “decision point” for the medium-term trend of the asset. With this in mind, BTC could easily reverse lower, though many investors have announced that the asset’s fundamentals are becoming stronger than ever. Placeholder Capital’s Chris Burniske, for instance, wrote that this crisis “will pass, and crypto’s fundamentals will have strengthened through it.”10/ Most importantly, I hope everyone is staying as well as possible. While the future weeks are full of uncertainty, I know that eventually, this virus will pass, and #crypto‘s fundamentals will have strengthened through it.— Chris Burniske (@cburniske) March 21, 2020This strength in the crypto market comes as the stock market has begun to show signs of weakness, reacting to a rapidly-worsening coronavirus outbreak and record-level unemployment claims in the U.S., which…

    Apr 5, 2020
  • Cryptocurrency News From Japan: March 29

    This week’s headlines from Japan included the country’s Financial Services Agency revealing feedback from the public on recent regulation, the Cabinet Office Ordinance announcing regulatory changes, Zaif exchange removing three crypto assets, BitBank’s COO predicting crypto exchange mergers, and Nomura Research Institute issuing Japan’s first blockchain-based bond. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.Japanese FSA receives comments on new regulationsThe Japanese Financial Services Agency, or FSA, unveiled 172 comments from citizens and groups, pertaining to recent crypto asset laws taking effect on May 1. The fresh laws span several areas, such as security token offerings, or STOs, crypto asset wallets and derivatives.Crypto regulation changes could come into play starting May 1Japan’s Cabinet Office Ordinance recently publicized altered crypto regulations, which might come into play on May1. The regulatory guidelines, which are called the Revised Funds Settlement Act, relate in part to the settlement of assets.Crypto exchange removes three assetsJapanese crypto exchange, Zaif, revealed plans to remove three crypto assets from its platform. The exchange will delist BitCrystals (BCY), PepeCash, and Storage Coin X (SJCX) on April 30. BitBank…

    Apr 5, 2020
  • It’s Hardly Shocking the Navy Fired a Commander for Warning of Coronavirus Threat. It’s Part of a Pattern. |

    by T. Christian Miller and Megan RoseProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.Capt. Brett Crozier, fired this week from command of the aircraft carrier USS Theodore Roosevelt, joins a growing list of Navy officers who attempted to raise concerns about the safety of their ships and crew, only to pay with their jobs.Crozier wrote a letter dated March 30 warning that an outbreak of the coronavirus on his ship was a threat to his crew of some 4,000 sailors unless they disembarked and quarantined.“We are not at war, and therefore cannot allow a single sailor to perish as a result of this pandemic unnecessarily,” Crozier wrote. “Decisive action is required now.”We do not know all the facts that prompted the letter. But we know that once it was published in the San Francisco Chronicle, the acting secretary of the Navy, Thomas Modly, relieved Crozier of command. Crozier, 50, had been a rising star in the officer corps. He will remain in the Navy at his…

    Apr 5, 2020
  • What’s Next For Bitcoin After Brutal Rejection At Key $7,000 Price Point?

    Just two hours ago, Bitcoin started to rally after trading at $6,700 for most of Saturday morning and afternoon, rallying as high as $7,020 in a vertical move that brought the asset 4%. But, as fast as the cryptocurrency rallied, it was rejected, returning to where it began just minutes later — a loss for bulls hoping BTC could establish a higher high on the daily chart.Joe McCann  — a noted crypto trader and an AI/Cloud specialist at Microsoft — remarked that the recent explosive move is most likely related to a futures short squeeze caused by negative funding rates on BitMEX:“Funding rate continues to maintain its negativity yet price won’t go down. If bulls keep this up there will be an epic squeeze coming… There’s the squeeze.”With the surge’s gains having since been reverted, what are analysts thinking comes next for Bitcoin and the rest of the crypto market?Analysts Are Growing Bullish On BitcoinSurprisingly, despite the strong rejection at the key $7,000 technical resistance, analysts are bullish about the short-term to medium-term prospects of the leading cryptocurrency.According to a Bloomberg…

    Apr 5, 2020
  • Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report

    Although the Coronavirus pandemic has led many brick and mortar industries to close operations, cryptocurrency exchanges seem to have had their best month in a long time. According to an exchange report released by CryptoCompare, Bitcoin (BTC) trading volume saw record-breaking numbers throughout the month.Cryptocurrency market daily view. Source: Coin360The March 13 market crash that brought the Bitcoin price from $8,000 to a low of $3,800 in 24 hours registered the biggest day for crypto in terms of trading volumes registered at Bitcoin spot markets. On March 13 alone, total daily volumes hit an all-time high of $75.9 billion. Total Historical BTC Spot Volume. Source: CryptoCompareBitcoin selloff propelled by a dash for cashNot only did Bitcoin see its biggest spike in spot trading volumes during the crash to $3,750, but fiat volumes also increased substantially as traders sought liquidity amidst the Coronavirus panic. This also triggered similar selloffs in global equities and commodities markets.Bitcoin to fiat volumes also reveal a possible interest in acquiring the cryptocurrency as a hedge against the COVID-19 economic fallout. USD to BTC trading volumes increased by 170%…

    Apr 5, 2020
  • Bitcoin’s Volatility To Spike Further In Q2 2020 After Setting Record Levels In March |

    The past three months of the year have been a rollercoaster ride across the world as the COVID-19 pandemic set the global assets and economies at a standstill or regressing pattern. Assets across the board including stocks, gold and Bitcoin (BTC) have suffered during this time setting record volatility levels across the month of March.Over the past 30-days, the S&P 500 volatility reached an all-time high in the average daily volatility recording 4.82%. While remaining relatively stable during the capitulation in asset markets, gold still set its highest 30-day average volatility witnessing an average of 2.36% – highest since September 2011.As it has become customary, Bitcoin has historically seen high volatility and March was no different as the top crypto set its highest volatility since the end of 2013.BTC 30-day volatility hits five year highBitcoin (BTC) volatility set a five year high on its 30-day average volatility as the asset faced one of its most volatile months as the fears of COVID-19 grew out of proportion. According to data aggregator, Buy Bitcoin Worldwide, the 30-day volatility on BTC/USD averaged 10.86%…

    Apr 5, 2020
  • Freebitco.in Gaming Site Launches Covid-19 Relief Fund – Donating 20% House Edge to Healthcare Efforts

    The owners of the website Freebitco.in have announced a coronavirus relief fund following the myriad of other crypto companies donating funds to help fight the covid-19 pandemic. Freebitco.in is an extremely popular gaming website that saw more than 40 million visitors last month in web traffic and the site ranks #2,379 globally according to Alexa ratings. The website is donating 20% of the house edge to an organization that will be coordinating with public health authorities in order to provide protective equipment.Also read: Coronavirus Relief: Cryptocurrency Aid Programs Launched to Combat Covid-19 OutbreakFreebitco.in Launches Coronavirus Relief EffortThe coronavirus outbreak has massively disrupted the world’s economy and a lot of people are in need of food and healthcare resources. This has caused a lot of firms in the private sector to start providing much-needed supplies and relief funds to those affected by the financial calamity. News.Bitcoin.com recently reported on a slew of crypto companies donating funds to coronavirus relief efforts during the last few weeks. For instance, the organization Binance Charity designated $5 million toward a covid-19 aid program. Now the…

    Apr 5, 2020
  • SEC Alleges Minority Communities Targeted By Bottled Water Scam

    The United States Securities and Exchange Commission has charged a former pastor and his wife for stealing $500,000 through a trio of fraudulent businesses, including a cryptocurrency offering purportedly backed by a bottled water business.According to a complaint filed on April 2, the pair also sold fake shares in their struggling water business, Teshuater, in addition to conjuring up a non-existent Bitcoin (BTC) mining outfit to dupe investors in Houston, Texas.Former pastor offers 1,400% returns overnightThe complaint alleges that Larry and Shuwana Leonard “targeted investors in the African-American community by promising oversized returns on various investments related to Teshua”, a business that bottled and distributed alkaline water.”The SEC asserts that the former Christian pastor “capitalized on his background as ‘a man of the cloth’ to gain investors’ trust,” and began defrauding investors during Spring 2017.In the 45-year-old pair’s first scheme, “worthless ‘stock certificates’ that did not actually convey ownership interest in Teshuater” were issued in exchange for roughly $291,000. Investors were promised “short-term investment returns of up to 3,000 percent” over just a few days.The SEC states that Teshuater “earned…

    Apr 5, 2020
  • Weak Xbox Series X Day-1 Launch Slate Hands Major PS5 Victory

    Xbox boss Phil Spencer suggests that the Xbox Series X launch title lineup may be smaller than expected.This could hand the PS5 a major launch day win if it has more new games to offer players.However, the Xbox Series X could win over the year after launch as it gets new players with a steady release of exclusive games.Speaking to IGN, Xbox boss Phil Spencer hinted what gamers can expect with next-gen games launching alongside its next-gen Xbox Series X.Spencer stated:It doesn’t really help somebody to have eight games launched on one day, and I think you can pace those out…For the momentum of the platform, it’s not about any one day, it’s about a sustained stream of great games coming from our first party and our third party partners.This suggests that Microsoft knows that Xbox Series X exclusives are important, but it’s unlikely that these will all be available at launch.This may hand the PS5 a major launch day win if the console is able to offer players more exclusive games. There are rumors that God of War 2…

    Apr 5, 2020
  • Lawsuits Filed against Binance, Block.one, Bitmex, Other Companies

    Binance, Block.one, BitMEX, BiBox, KayDex, BProtocol, Status and TRON Foundation received the class-action lawsuits. The lawsuits claim that those companies were selling or helping with the selling of unregistered securities.Binance, Block.one, BitMEX, TRON Foundation, BiBox and others received an astral hit. Well, not quite astral, but rather juridical. Because the regulators are mad when someone is doing things wrong.All the lawsuits are filed to the Southern District of New York. Per the documents, the exchanges were selling the crypto tokens via the so-called IEO and ICO models. The lawsuits claim that KuCoin, Block.one, Quantstamp, Civic, and Binance were issuing and selling the ICO tokens. As for the BitMEX exchange, the documents claim they have participated in the selling of unregistered securities.The SEC claims that tokens in the list are unregistered securities. Here’s what the lawsuit against Binance states:“Within the last year, the SEC has clarified, with the benefit of labor-intensive research and investigations, that the Tokens were securities.”The lawsuit indicates that most of the ICO offers can pass the Howey Test. This test determines whether an asset is a security….

    Apr 5, 2020
  • Exchanges and Digital Asset Firms Unite to Fight Coronavirus |

    The spread of coronavirus not only affects the patients, but also medical staff and hospitals, unemployed individuals, and municipal corporations working to sanitize affected areas.The cryptocurrency industry is also coming together under the #CryptoAgainstCOVID hashtag to mark their contributions. World’s leading exchange, Binance will contribute $1 million in medical supplies to be shipped globally. According to an update from their CEO, Changpeng Zhao, @BinanceBCF  #CryptoAgainstCOVID So far $2,400,000 USD donated by Binance Donate $1M today ourselves, and add the other $1M to donation matching Nearly $200,000 donated through the BCF site You donate, $10 and we will match it with a $20 donationDigital Asset Management firm, Arrington XRP Capital donated around $10,000 (with 55,000 XRP) to the support Binance’s charitable efforts. Jared Winn, the Senior Vice-President of Binance Charity, tweeted,34 companies have joined the #CryptoAgainstCOVID alliance!! Let’s show the world what crypto is made of. #UnityAlong with it, he also implores other businesses in the crypto and blockchain space to contribute to the program. Huobi Global, another leading crypto exchange in the space, based out of Singapore has pledged $50,000 to…

    Apr 4, 2020
  • Prince Harry Is a Fool to Think He’ll Escape Hollywood’s Infamous Paparazzi

    Prince Harry claimed the U.K. media machine was the reason he decided to step back from royal duties.If that’s true, then his decision to move to Los Angeles was rather foolish.The U.S. tabloids are already sharpening their knives.Remember when Prince Harry was telling everyone that he and his wife, Meghan Markle, had to escape the royal spotlight because the media glare was too much?It reminded him of the tragic circumstances that led to the untimely death of his mother, Princess Diana.His plight would be more sympathetic if he weren’t leaving the media hotspot of the U.K. and exchanging it for Los Angeles.Anyone who believes Meghan Markle and Prince Harry’s story is gullibleI can understand the people who bought what Harry and Meghan were selling when they first unveiled their plans.But now? The Hollywood Royals have played their hand, and it all demonstrates that their reason for leaving the royal family behind had nothing to do with privacy or media coverage.Quite simply, it’s all about Meghan Markle and her career.The U.S. media establishment is already sharpening its knivesIf Prince Harry believes…

    Apr 4, 2020

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