Bitcoin Investment App CEO Calls BTC a Monetary Revolution, Not a Technical One

What needs to happen for Bitcoin (BTC) to cement its role in the public eye as a valid investment option? “Time,” Aleks Svetski, CEO and co-founder of Bitcoin investment platform Amber, told Cointelegraph in an email. “This is NOT a technological revolution,” he clarified, adding: “It’s a monetary revolution – which takes (traditionally) centuries to manifest, whilst in the digital age, Bitcoin is likely to do it in decades.”  Bitcoin rising despite instability Since Bitcoin’s 50% March price dive, in the midst of coronavirus fear and uncertainty, the mainstream public has…

Bitcoin Miners Will Use Derivatives Like Traditional Commodity Producers

Bitcoin (BTC) mining has become a multibillion-dollar industry. Pools, manufacturers and farms contribute to the growth and professionalization of the space. Financial service companies bring institutional-grade products and capital that increases liquidity for the biggest operators. There’s a fundamental shortage of United States dollars available relative to the overall demand when the sector encounters certain market conditions. The dollar shortage is one of the contributing factors to volatility in the markets. Just like traditional commodity producers, Bitcoin miners will likely become large users of derivatives — whether it’s with futures…

Coldplay Bassist Dives into Bitcoin App World

Scottish Coldplay bass artist, Guy Berryman, has joined the crypto space, funding a Bitcoin (BTC) exchange application called Zumo. “Covid-19 has fast forwarded the move to a cashless society and for safe and easy ways to invest in new forms of currency that are more resilient to crises such as this one,” Zumo CEO and founder Nick Jones told the Edinburgh News.  The app is a basic avenue into Bitcoin  Zumo touts basic Bitcoin functionalities, allowing users to buy, sell, transact and store BTC, the May 21 Edinburgh News article detailed.…

Researchers Claim 99.9% of Zcash Transactions Are Traceable

Researchers from Carnegie Mellon University have released a study into the privacy features of Monero (XMR) and Zcash (ZEC) — arguably the two most-popular crypto assets purporting to offer users anonymity. The report finds that Monero’s introduction of strict security and anonymity requirements on its broader ecosystem has maintained the asset’s status as “effectively untraceable.” Transversely, the report concludes that the lack of utilization of Zcash’s privacy capabilities on the part of more than 99% of users undermines the privacy of the overall network despite ZEC offering “strong cryptographic features.”…

Cryptocurrency News From Japan: May 17

This week’s headlines from Japan included BitBank exchange adding three trading pairs, Bitpoint exchange posting decreased fiscal year totals, Bitpoint adding information on its 2019 hack, and Binance donating masks to Japanese nursing homes through its charity arm.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. BitBank adds three more asset pairings  Japan’s BitBank exchange gave details this week on three upcoming additional trading pairs. The platform originally unveiled the fresh pairs in late April. On May 24, BitBank will complete a four-hour offline…

Bitcoin Price Ping Pong Within Tighter Range Hinting at $8.5K Next

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, has seen a spike towards $10,500 before the halving took place on May 11. However, the price of Bitcoin has been having problems since the halving and is currently showing more signs of weakness. On the other hand, altcoins have been starting to show signs of life with the BTC market dominance index sliding from 67% to 65% after the halving. Is the momentum now shifting towards altcoins from Bitcoin as the most anticipated event is behind us?  Crypto…

CZ Believes Steem Users Should Launch (Another) Counter-Fork

Changpeng Zhao, or CZ, the chief executive of top crypto exchange Binance, has issued a statement regarding the recent Steem hard fork that sought to freeze 23.6 million STEEM tokens associated with 64 wallet addresses. Binance will support the fork, however, indicating that they will support future forks executed by those affected within the Steem community. Steem fork attracts controversy The latest fork was ostensibly intended to protect against malicious actors in the Steem network, however, critics have accused the project of seeking to punish proponents of the Hive hard…

Master of Puppets: Bitcoin Cuts the Strings

Did you notice the song that Christian Bale’s character was jamming out to in his office when his partner came in to pull the money in The Big Short? Well, it happens to be my favorite metal band of all time: Metallica. And that song is called “Master of Puppets.” It’s almost ironic that as I was writing this article on the real truth behind what’s currently happening with the collapse of our financial and economic markets and calling it “Master of Puppets” — well, this movie scene popped in…

Documentary Review – Banking on Africa: The Bitcoin Revolution

Another week, another cryptocurrency documentary review… Although Banking on Africa: The Bitcoin Revolution, released May 22, promises something a little different. For a start, amongst the usual crypto-101 and industry-overview fare, a focus on how Bitcoin and cryptocurrency is transforming the African continent feels like a breath of fresh air. After all, wasn’t “banking the unbanked” one of the nobler use-cases for Bitcoin, before it became all about the price? In addition, most documentaries don’t have an accompanying in-depth 37-page report, allowing viewers to dive deeper into “The State of…

Has the US SEC Closed the Global Window on New Tokens?

The United States Securities and Exchange Commission’s vigor in pursuing initial coin offerings, or ICOs, has become a major boogeyman within the crypto community.  Most recently, the case against Telegram ended with that company abandoning its planned open network and Gram tokens, which raised $1.7 billion. The question before the crypto community is now: Have we witnessed the death of the ICO? The answer is yes, in that, with all due fear of predictions, we will never see the likes of 2017’s ICO boom again. That vision of an ICO…