‘The Dollar Is Going to Self Destruct’: Talking Bitcoin With Ron Paul

Dr. Ron Paul was into sound money before it was cool. Before he became an initiate in the Austrian school of economics, he served as a flight surgeon in the United States Airforce and as a private practice OBGYN in Texas. Proselytized by the works of Ludwig von Mises and Ayn Rand, Paul decided to run for Congress in the ’70s following the termination of the Bretton Woods agreement — an international pact that was the dollars final, albeit tentative, tie to the gold standard. Nixon’s decision to withdraw from…

SEC Delays VanEck ETF Yet Again

In the Bitcoin industry’s Sisyphean struggle to secure a Bitcoin exchange traded fund (ETF), the boulder is rolling back down the hill. The U.S. Securities and Exchange Commission (SEC) posted a notice today, May 20, 2019, that it is delaying its decision on the VanEck and SolidX Bitcoin ETF proposal. With this additional extension (the first coming on March 29, 2019), the agency will have until August 19, 2019 to either approve, reject or delay the decision yet again; if it is delayed a second time, the agency will have…

Austrian Fiber Producer Lenzing to Launch Blockchain-Enabled Tracking in 2020

Major global fiber producer Lenzing will implement blockchain tech to bring more transparency to its fiber supply chain, the firm announced on May 17. Headquartered in Lenzing, Austria, the fiber manufacturer partnered with Hong Kong–based blockchain firm TextileGenesis to incorporate the technology in its fiber business TENCEL. According to the press release, Lenzing expects to launch its supply chain traceability platform in 2020, while in the near future, the company will test the technology along with all the involved chain participants. Lenzing decided to deploy distributed ledger technology (DLT) following…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 20

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Bitcoin rallied about 101.55% between April 2 and May 14. This sharp rally after a long bear phase surprised many, including us. Analysts at JPMorgan Chase have said that, after the rally, Bitcoin is trading above its intrinsic value. They find some similarities in…

Cryptocurrencies Pose No Threat to Financial Stability: EU Central Bank

The European Central Bank (ECB) has said that cryptocurrencies are currently not a threat to financial stability in the euro zone. In its latest paper on the subject, published Friday, the ECB said the combined value of crypto-assets is small relative to the financial system, and “linkages” to the financial sector are still limited. Further, banks in the EU do not appear to have “systemically relevant” holdings of crypto-assets. The ECB also said cryptocurrencies do not perform the functions of money. A “very low” number of merchants currently allow buying of goods…

Ethereum-Based Stock Exchange Plans First Company Listing in June

SprinkleXchange, a stock exchange built on ethereum, is reportedly listing its first company next month. Sprinkle Group CEO Alexander Wallin told Bloomberg in an interview published Friday, “We have the luxury of being first with this, but we’re aware that it will become a crowded market.” The Bahrain-based platform, operating within a regulatory sandbox created by the country’s central bank, uses a decentralized clearing and settlement system that uses automation in order to reduce time and cost. Prices will be set using the Dutch auction method, with SprinkleXchange taking a 1…

Stellar’s Blockchain Briefly Goes Offline, Confirming the Project Lacks Decentralization

Recently, blockchain-powered network Stellar stopped confirming transactions for more than one hour, effectively going offline. Although no money was reportedly lost as a result, Stellar’s major issue has now been highlighted publicly: The project is not decentralized, at least not to the extent expected at this point. Notably, the offline scenario was predicted by researchers earlier last month. Brief introduction to Stellar and its network Stellar is a platform for money remittance. It was launched in 2014 by Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, and former…

During Bullish April, Fiat-to-Crypto Exchanges Outperform Crypto-to-Crypto

In its April 2019 Exchange Review, released on May 20, 2019, London-based crypto data analysis firm CryptoCompare found that fiat-to-crypto exchanges performed much better than crypto-to-crypto platforms did over the last month, as cryptocurrency prices rose across the board. According to the report, fiat-to-crypto exchanges enjoyed an impressive 85 percent uptick in monthly trading volumes in April 2019. Bithumb, UPbit and Bitfinex were the highest performing of these, with volumes amounting to $17 billion, $8.7 billion and $6.7 billion, respectively. It’s worth noting that Bitfinex was found to within the…

Don’t Kid Yourself! Bitcoin is a Terrible Stock Market Hedge: Study

By CCN: Bitcoin is not an effective hedge against an uncertain economy or volatile stock market — despite what crypto evangelists vehemently insist. That’s the conclusion of a report that was just published in the Annals of Operations Research. The paper is entitled “Market Risk and Bitcoin Returns,” and it was authored by Dimitrios Koutmos, an assistant finance professor at Worcester Polytechnic Institute in Massachusetts. Report Touts Itself as a ‘Cautionary Note’ Koutmos says he’s sounding the alarm for investors, calling his report a “cautionary note” for the irrationally exuberant…

UK-Based Global Funds Network Calastone Switches Entire System to Blockchain

London-based global funds network Calastone announced that it switched its entire system for fund trade clearing services to its blockchain Distributed Market Infrastructure (DMI) in a press release published on May 20. Per the release, the migration of the company’s over 1,800 customers over 41 markets “represents the largest community of global financial services organisations connecting and transacting via distributed ledger technology.” In the announcement, the institution also forecasts that the resulting savings for the mutual funds market will amount to over £3.4 billion per year ($4.33 billion). The release…