Business

  • Peer-to-Peer Internet Has Lofty Goal to Bring True Decentralization

    Decentralization is one of the most important benefits promised by blockchain, as the technology aims to distribute and disperse power away from central authorities. Bitcoin, for example, was designed as a decentralized alternative to government-backed money. However, many blockchain systems currently run on centralized cloud platforms. It’s been noted that over 60% of all Ethereum nodes rely on cloud-based services, with 25% running on Amazon Web Services, or AWS. As a result, these blockchain networks are vulnerable to policy changes and adjustments made from Amazon. This also leads to the question of whether these systems and their associated cryptocurrencies are truly decentralized. Kristof De Spiegeleer, the co-founder and CEO of ThreeFold, told Cointelegraph that since 2016, he has been building a peer-to-peer internet to create a truly decentralized global web architecture: “Currently, less than 20 companies in the world own more than 80% of the internet’s capacity. Data also resides in huge data centers, where 5 to 10% of the world’s electricity goes, a number which will grow in the coming years. Today, we don’t own our data or the…

    Jun 3, 2020
  • Japan’s Finance Minister Denies Lowering Tax On Cryptocurrencies |

    At the recent Japanese Financial Affairs Committee meeting that was carried out on 2 June 2020, the Finance Minister of Japan, Taro Aso, stated that he would not urge to lower the rate of tax on cryptocurrencies to 20 percent in the country. Aso cited the complexity of digital asset investment for many households for his decision. Japan’s Is A Pro Crypto Nation Japan is home to several significant Bitcoin and blockchain platforms. The country has taken interest in the field from the very beginning and even went on to recognize Bitcoin as a payment method. Not to forget, the country has also been a hot bet for several crypto-related cyberattacks.  The country recently onboarded several changes to cryptocurrency regulations in the country. These regulations mandate the requirement of platforms engaging in crypto derivatives, to be registered as a Financial Instrument Business. The country categorizes any income from crypto including lending, mining and even trading under miscellaneous income on taxes. These taxes are conditional to a rate of up to 55 percent. Japan further taxes the profits on assets at…

    Jun 3, 2020
  • ‘Love and Hip Hop’ Star Trina Proved She’s a Bigot – But Why Are You Surprised?

    “Love and Hip Hop” star Trina made some inexcusably bigoted remarks about racial discrimination. She subsequently got “canceled” for her trouble. But she’s not the only celebrity whose concern for black Americans is performative, at best. A “Love and Hip Hop” star has just been canceled. Rapper Trina — best known for her work with Lil’Wayne, and for her moniker of “Baddest B*tch” — went on a tirade on Trick Daddy’s radio show, calling Miami protesters “animals.” It took literally no time at all for the internet to “cancel” Trina. And while that’s a start, she’s not the only celebrity whose racial bigotry is overt — and whose solidarity with black Americans is performative. We Shouldn’t Be Surprised That a “Love and Hip Hop” Star Acted Foolishly The different “Love and Hip Hop” franchises routinely come under fire from various pop culture blogs for good reason. The show caters to the lowest common denominator and shows celebrities — particularly black and LatinX celebrities — in a negative, almost stereotypical light. Yet, as the stars’ behavior proves time and again, they’re…

    Jun 3, 2020
  • Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish

    Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong. ,

    Jun 3, 2020
  • Here’s Why Bitcoin’s V-Shaped Recovery from $3,800 Spells Trouble for What’s Next

    Bitcoin has now entered a consolidation phase within the mid-$9,000 region following the meltdown seen yesterday This has made it increasingly unclear as to which direction the benchmark cryptocurrency will trend over a mid-term time frame One analyst is calling into question the long-term strength of BTC’s multi-month uptrend due to the “V-shaped” recovery it posted in mid-March when it dipped to lows of $3,800 He eludes to the possibility that this provided the crypto with a weak foundation upon which a sustained rally can’t be built Bitcoin and the aggregated crypto market saw some calm overnight trading following the immense volatility seen yesterday. After plunging from highs of $10,400 to lows of $8,600 on BitMEX, BTC has been able to incur some buying pressure that has given it a firm standing within the mid-$8,000 region. Despite the rebound from these lows, it does appear that the cryptocurrency’s macro outlook may be somewhat weak at the present moment. This weakness stems from the fact that Bitcoin’s entire rally from the upper-$3,000 region has been built upon a sub-10 day accumulation…

    Jun 3, 2020
  • Millennials Are About to Find Out They Made a Horrible Bet on Airline Stocks

    Retail investors aggressively bought airline stocks in May. Data from Germany and Indonesia show the world’s largest airline firms are recording billions of dollars in losses. As airlines face the risk of a permanent loss of clients, the appeal of airline stocks is questionable. Millennials have been scooping up airline stocks that Warren Buffett famously dumped. But new data suggest they are about to regret that decision. Buffett invests in stocks with a long-term investment thesis. When he realized airlines might never be the same in a post-pandemic world, he sold his shares in four airline stocks. But, it seems retail investors bought airline stocks for quick short-term gains. Unfortunately, data are not on their side. Airlines Risk Bankruptcies With Multi-Billion Dollar Losses Lufthansa AG, the largest airline in Germany, recorded a net loss of $2.35 billion in the first quarter of 2020. The airline saw a staggering 98.1% decline in passengers year-over-year. Such a significant drop in travelers forced Lufthansa to park 700 airplanes from April to May. Carsten Spohr, Lufthansa’s chairman of the executive board, stated: Global air…

    Jun 3, 2020
  • Analyst: Bitcoin May See an Extended Bear Market Until September 2020

    Bitcoin’s halving came and went, but no major uptrend has begun as crypto investors had been hoping. And although the leading crypto asset by market cap has rallied steadily from lows, another three-month-long downtrend and extension of the bear market may be ahead. Correction To Last As Long As Uptrend, Bitcoin Price To Bottom Around September 2020 Bitcoin price is consolidating below critical resistance at $10,000 once again. Thus far, the cryptocurrency has repeatedly failed to hold above this level. And while sentiment is strong, the asset’s underlying fundamentals are screaming buy, and the current economic environment is ideal for the asset’s growth, another correction may be coming, according to a highly accurate crypto analyst. Related Reading | Bitcoin Crash May Be Profit-Taking To Prepare For Incredible Altcoin Season  According to Dave the Wave, who focuses on longer-term investing analysis rather than short term trading, based on past Fibonacci based time cycles, Bitcoin price will bottom out in September 2020. The analysis is based on prior uptrends and downtrends matching in the length of time they take. pic.twitter.com/ZpNbEGcr7H — dave…

    Jun 3, 2020
  • DeversiFi 2.0 DEx Integrates Starkware to Enable 9K+ Trades Per Second

    The DeversiFi decentralized exchange, or DEX, relaunched as DeversiFi 2.0 on June 3, incorporating Starkware’s zkSTARK layer-2 scaling technology. This new platform will be able to process over 9,000 transactions per second, while maintaining privacy, liquidity and low fees in a non-custodial solution. Zero Knowledge Proof Batch Validation Starkware’s layer-2 solution utilizes Zero Knowledge Proof, or ZKP, technology to bring scalability to non-custodial trading. It achieves this by processing trades in batches and then submitting a single proof for each batch. This consumes a small fraction of the Ethereum blockchain resources that standard on-chain processing would require. Starkware President Eli Ben Sasson explained the benefits of the technology: “Commercial grade Defi needs robust cryptography and zkSTARKs are fastest in class, post-quantum safe and can easily scale to tens of thousands of transactions per second with no trusted setup … We are excited to see traders embracing self-custodial trading without sacrificing liquidity or speed” Benefits of layer-2 scalability Integration of this technology into DeversiFi 2.0 will bring instant settlement, deep liquidity and withdrawal certainty to the exchange. DeversiFi CEO Will Harborne…

    Jun 3, 2020
  • Iran Needs to Take Bitcoin Seriously, Says Lawmaker

    An Iranian lawmaker is advising the government to actively control the development of the local Bitcoin (BTC) and crypto industry.  Bitcoin Could be Beneficial for Iran According to Tasnim News Agency, Mohammad Hossein Farhangi, a member of Iran’s Parliament says the country’s government needs to move forward with developing its emerging crypto market. Speaking on Tuesday, June 4, 2020, Farhangi remarked: “Take the issue of bitcoin seriously, because if it can be managed, it can be a good opportunity for the country, otherwise it will become a matter for financial and credit institutions.” For the Iranian lawmaker, it made little sense that the government placed crypto matters under the ambit of the Ministry of Industry and Mines. Instead, Farhangi argued that Bitcoin should be under the aegis of the central bank along with issues concerning digital currencies in general. style=”display:block; text-align:center;” data-ad-layout=”in-article” data-ad-format=”fluid” data-ad-client=”ca-pub-4791668236379065″ data-ad-slot=”8840547438″>,

    Jun 3, 2020
  • 90% of Bitcoin’s Supply is Now in Profit

    Almost all bitcoiners have made money from their investment according to blockchain data analysis. That’s if they didn’t sell in February 2019 when just 39% was in profit, or during the more recent lockdown crash in March when it dropped to 43%. For all other holders, they’re now in green more than anytime since June last year when bitcoin very briefly reached $14,000.Some 90% of bitcoiner holders are now in profit, June 2020. The data above analyzes the price of bitcoin when they move from an address and compares it to the current price. Hence this isn’t 90% of bitcoiners because you can’t easily tell change of ownership and therefore you can’t tell whether they are buying or selling at the time of movement or indeed whether they’re just sending it to an exchange or to a cold wallet after buying it months earlier. That brings another complication in that bitcoins in a custodian’s cold wallet, like an exchange, don’t have to move for the beneficiary’s ownership to change because you can sell the exchange’s IOU or database bitcoins with…

    Jun 3, 2020
  • What’s New – Bitcoin Magazine

    Today marks the official release of Bitcoin Core 0.20.0, the 20th major release of Bitcoin’s original software client launched by Satoshi Nakamoto over 11 years ago.  Overseen by Bitcoin Core lead maintainer Wladimir van der Laan, this latest major release was developed by over 100 contributors in a span of about six months. The result of more than 500 merged pull requests, Bitcoin Core 0.20.0 mostly cleans up and hardens the Bitcoin Core codebase, advances hardware wallet integration, improves network reliability and includes several other improvements. Here are some of the more notable changes. Further Hardware Wallet Integration in GUI Bitcoin Core has been compatible with hardware wallets since version 0.18.0. However, users cannot yet make transactions with a hardware wallet from Bitcoin Core’s graphical user interface (GUI); they must instead use the command-line interface (CLI) to do that. Bitcoin Core 0.20.0 is taking a step toward hardware wallet integration into the GUI. Users can now create a transaction without a signature in the Bitcoin Core GUI using the partially signed bitcoin transaction (PSBT) format, and copy it to their…

    Jun 3, 2020
  • Blockchain Bites: Avanti’s Angel Round, Civil’s Closure and a Data Breach

    Data BreachCoincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. ,

    Jun 3, 2020
  • It’s Time for Meghan Markle Fans to Realize Something About Kate Middleton

    Kensington Palace has thrown its weight behind defending Duchess Kate Middleton against Tatler. This has seemingly irked Meghan Markle, who wonders why she didn’t get equal treatment by the Palace during her time as a working royal. The answer is simple, Meg. Kate is the future Queen Consort. You’re not. The support that Kensington Palace gave Kate Middleton in the aftermath of the Tatler magazine scandal has got Meghan Markle all upset. Someone hold my laptop while I wipe the tears from my eyes. Meghan Markle claims that support Kate has received is “telling” Of course Kate Middleton is treated differently from Meghan Markle! | Source: Victoria Jones/Pool via REUTERS Once again, for an insight into how the beleaguered Duchess of Malibu is feeling, we have to rely on the quotes of “a friend,” who claims: Meghan said Kensington Palace never once came to her defense when she was being shredded by the media. Now Kate gets a bit of negative press, and the Palace comes out in less than 24 hours to rebuke the claims made against her. Even…

    Jun 3, 2020
  • Blizzard Tweeted About Black Lives Matter – But Gamers Aren’t Having It

    Publisher Blizzard voiced its support for the Black Lives Matter protests in the United States. Gamers and critics have pointed to the perceived hypocrisy of the publisher’s stance after last year’s blitzchung controversy. The debacle saw Blizzard ban Hearthstone pro blitzchung after he expressed support for the Hong Kong protests live on air. Gaming publisher Blizzard had to have known that their show of support for the George Floyd protests wasn’t going to go over well. But they did it anyway, and boy did gamers let them have it. Blizzard has a checkered past when it comes to politically-charged controversies, and critics were quick to label the company’s support for Black Lives Matter an exercise in hypocrisy. The Blitzchung Controversy Rears Its Head This all dates back to September 2019, when Blizzard hit the headlines over the controversial ban of Ng Wai “blitzchung” Chung, a professional Hearthstone player. During a live-streamed interview at the 2019 Hearthstone Grandmasters, blitzchung – clad in the Hong Kong protest movement’s symbolic face mask – voiced his support for the public demonstrations against laws permitting…

    Jun 3, 2020
  • Correction Inevitable? Bitcoin Paints a ‘Shooting Star’ Pattern on Key Timeframes

    The new weekly and monthly Bitcoin price candle kicked off with a powerful move to the upside, but yesterday was rejected with force. Although it is extremely early in each trading session, the recent price action has left behind a Shooting Star doji on weekly and monthly timeframes, which could signal that a larger correction is inevitable. Early Session Bullish Advance Rejected Back Down By Bears Over the last three months, Bitcoin has climbed from lows set on Black Thursday at $3,800 to as high as $10,400. Despite over an over 150% climb, the leading cryptocurrency by market cap continues to struggle with resistance above $10,500. After Sunday night’s important weekly and monthly close – which arguably closed bullish – Bitcoin price surged to over $10,000 in an over $600 move that took less than one hour to play out. style=”display:block; text-align:center;” data-ad-layout=”in-article” data-ad-format=”fluid” data-ad-client=”ca-pub-4791668236379065″ data-ad-slot=”8840547438″>,

    Jun 3, 2020
  • Top Traders Debate Future of BTC After Bitcoin Price Drops to $8.6K

    The price of Bitcoin (BTC) suddenly dropped from $10,000 to $8,600 on BitMEX as nearly $140 million worth of long contracts were liquidated. The pullback came merely 16 hours after BTC surged to $10,473, testing the dreaded $10,500 resistance level. Bitcoin typically sees a heightened level of volatility when it approaches key dates. Crucial periods in the cryptocurrency market include CME futures expirations and the closure of a weekly or monthly candle. The 14% price plunge, which happened within merely five minutes, occurred without any futures or options expiration dates on the horizon. Cryptocurrency trader Hsaka emphasized the abrupt spike in volatility coincided with “no daily, weekly, monthly close. No exchange maintenance. No major options expiry. No CME futures expiry.” The intensity of the drop of BTC at a pivotal area at $10,500 without any other catalysts such as news or key events indicates that Bitcoin simply broke down from a multiyear resistance level. In the near term, top traders remain divided. Some state that the price of Bitcoin could fall to the $6,000 to $7,000 range. The primary reason…

    Jun 3, 2020