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Bitcoin Price Shown Alongside Dollar and Euro in Square: Gone Mainstream

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Ever since Bitcoin (BTC) was birthed, its early adopters have dreamed of a world where cryptocurrency is the go-to medium of exchange, not fiat currencies. But, ten years since Bitcoin was released, this dream has not been had. Related Reading: Bitcoin Pioneer Adam Back: BTC Price at $50,000 “Not Far Off” Cryptocurrency pundits on Twitter estimate that less than 1% of the world’s population know anything material about this technology; Bitcoin itself processes much less than 1% of all digital transactions (Amazon alone purportedly processes over 300 transactions a second) that take place each and every day. But, there is increasing evidence that the digital asset is going mainstream slowly at first, then all at once. Bitcoin Going Mainstream Didi Taihuttu is the Dad of the renowned … [Read More...]

Ethereum Pumps Past $180, But It Could Be a Fake-Out

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Ethereum (ETH) incurred a significant amount of upwards momentum yesterday that came about after the aggregated altcoin market posted some decent gains that led many cryptos to surge 5% or more. Importantly, this surge may ultimately be fleeting, as one analyst is noting that ETH has “fake pumped” on multiple occasions as of late, with each pump being followed by lower lows. Ethereum Surges Past $180  At the time of writing, Bitcoin is trading up nearly 5% at its current price of $182.45 and is up significantly from its daily lows of just over $170 that were set yesterday. This explosive movement upwards led ETH to highs of just under $185, which was a previous level of major support for the crypto that has likely flipped into … [Read More...]

Gemini Adds Former Morgan Stanley Executive as Chief Compliance Officer

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Cryptocurrency exchange and custodian Gemini has announced that Noah Perlman, former global head of financial crimes and chairman of the political action committee at Morgan Stanley, will be its new chief compliance officer. Tyler Winklevoss, one of Gemini’s founders, announced this development on September 4, 2019. The announcement states that Perlman’s appointment goes hand-in-hand with Gemini’s policy to “ask permission, not forgiveness.” “We chose this path because Compliance is one of Gemini’s four pillars along with Product, Licensing, and Security,” according to the announcement. “We are excited for Noah to continue to build on Gemini’s tradition of compliance.” The Winklevoss’ operation at Gemini has long emphasized compliance. After its proposal for a bitcoin ETF was shot down by the U.S. Securities and Exchange … [Read More...]

Hardware Wallets Just Got a Bit More Secure With Trezor’s Shamir Backups

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If hardware wallets have one Achilles’ heel, recovery seeds may be it. But Trezor’s SatoshiLabs has figured out a solution. Hardware wallets are generally considered to be among the most secure solutions for storing bitcoin. As the private keys to sign transactions never leave the device, these keys are never exposed to the internet and can, therefore, not be hacked remotely. Even with physical access to the device, subtracting the keys is no straightforward job — if it’s possible at all. (This appears to be an ongoing cat-and-mouse game between security researchers.) But even if we assume that they are secure, hardware wallets can still break, get lost, get stolen or become otherwise unusable. For these cases, users should keep a backup seed: a … [Read More...]

BlockV Platform is Using Blockchain to Bring Vatoms to Life, Creating a Whole New Augmented Experience

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Bitcoin Press Release: BlockV platform uses blockchain technology to create Vatoms, static virtual objects that can be transformed into dynamic virtual goods. 6th May 2019, Zug Switzerland – As our world evolves into an age of mixed, virtual and augmented reality, new kinds of human experience become possible and with them, incredible opportunities emerge. As these mixed reality layers become part of daily life, BLOCKv’s platform for the creation of Vatoms gives developers, publishers and brands superpowers to do amazing new things; using the power of blockchain, frictionlessly, for mass consumer engagement. BlockV’s Vatoms are unique for each user, often coming in the form of varied digital objects. Such objects can be developed into anything, from a vatomized Festival ticket, to an interactive digital billboard. This new technology … [Read More...]

iCoin Takes Diamond Mining to Blockchain, Launches IEO

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Bitcoin Press Release: Blockchain-based platform iCoin International is aiming to disrupt the diamond mining industry using decentralized technology fused with artificial intelligence announces the launch of its initial exchange offering for early backers. 6th of August, 2019, Sierra Leone: iCoin International is owned by Millennium Mining Corporation, and opts to leverage the power of blockchain and artificial intelligence to deliver efficiency, speed, and transparency to the precious gem industry. It has announced the launch of its initial exchange offering (IEO) in collaboration with LATOKEN to provide an opportunity to early backers to support the development and growth of the platform. Decentralized Diamonds Diamonds are one of the most sought after precious gems and have great value in both the industrial and social sectors. Their use in the … [Read More...]

Ripple is not going to stop from its XRP dumping anytime soon

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Ripple’s Chief Technology Officer (CTO) David Schwartz stated that the company would have to disappoint users who want it to stop from XRP dumping. Responding to a Twitter post that asked Ripple to stay away from the XRP ecosystem David Schwartz stated that Ripple would have to “massively disappoint” such users. Ripple Labs is the […] [Read More...]

Ethereum Price (ETH) Could Continue Higher While Bitcoin Struggles

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ETH price climbed higher recently and settled above the $175 resistance area against the US Dollar. The price is currently consolidating gains and it might continue to rise towards $185 or $190. There is a key breakout pattern forming with support near $180 on the hourly chart of ETH/USD (data feed via Kraken). The price could dip a few points towards $176 or $175 before it could start a fresh increase. Ethereum price is showing positive signs above $175 versus the US Dollar, while bitcoin is struggling. ETH price remains supported on dips and it could rise further. Ethereum Price Analysis Recently, there was a solid rise in ETH price above the $175 resistance area against the US Dollar. However, bitcoin price struggled to gain momentum… [Read More...]

How Bitcoin Distribution Is a Bullish Sign For Greater Adoption

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There are a number of differing metrics analysts use to determine the health of the Bitcoin ecosystem. Hash rate and transactions are two of the most popular but distribution in terms of the number of addresses can also be used to determine adoption rates. Bitcoin Addresses Increasing Over the past two years the number of BTC addresses has surged indicating that the asset is undergoing greater adoption. The largest gain is the number of addresses with less than a million satoshis which also suggests a more even distribution that is not just a few whales or large exchanges. According to director of research at The Block, Larry Cermak, this is a very bullish metric. “This is probably the most bullish chart on Bitcoin I’ve seen to date. … [Read More...]

China’s Central Bank Digital Currency Undergoes “Restricted Access Test”

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This article was originally published by 8btc and written by Vincent He. A dedicated team from the People’s Bank of China’s (PBoC) Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters, according to a report from September 5, 2019. China’s central bank digital currency (CBDC) has begun a “restricted access test” to simulate payment scenarios involving “some commercial and non-governmental organizations.” The test may be the integration of each module developed for the CBDC in which the outflow and inflow of digital money will form a complete, closed loop. On September 4, 2019, Changchun Mu, deputy director of the Payment and Settlement Department of China’s central bank, opened a public course called “Fi-tech Frontier: Libra and … [Read More...]

Energy Companies Are Missing Out on Bitcoin Mining

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<iframe style=”border: none” src=”//html5-player.libsyn.com/embed/episode/id/11154686/height/90/theme/custom/thumbnail/yes/direction/backward/render-playlist/no/custom-color/87A93A/” height=”90″ width=”100%” scrolling=”no” allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> In this episode of the Bitcoin Magazine Podcast, the guys bring on Brandon Green, another Bitcoin Magazine staffer, to talk about a spicy op ed he recently wrote about the Bitcoin mining energy consumption problem. Green flips the problem on its head by asking why more energy companies aren’t seeing the business opportunity in servicing cryptocurrency mining companies. The conversation meanders into the territory of universal basic income, the cost of printing money and even candy bars. Interview Op Ed: Bitcoin Uses a Lot of Energy, … [Read More...]