China’s Cryptocurrency | A Response to Facebook’s Libra Coin?

In response to Facebook’s new cryptocurrency, Libra, China’s central bank is reportedly developing its own cryptocurrency. According to the South China Morning Post, Libra poses a threat to the country’s financial system, and this has spurred on the development of the bank’s own digital coin. China’s Cryptocurrency At an event at Peking University’s Institute of Digital Finance yesterday, the director of the People’s Bank of China (PBoC) research bureau, Wang Xin, argued that if Libra effectively functions like money, then it will likely have a huge influence on “monetary policy, financial…

Ethereum (ETH) Likely To Expand Because of On-Chain Enhancements

Ethereum (ETH) up 5.4 percent In two years, ETH issuance may be reduced 10-fold. From Constantinople to the activation of EIP 1234, Ethereum fundamentals are overly bullish. Add that to possible plans of reducing ETH issuance by 2021 and bulls are at a prime position to rally. At the moment, ETH is up 5.4 percent. Ethereum Price Analysis Fundamentals The Ethereum developer community are a determined lot. The Constantinople update set the ball rolling. Plus, with another update in two months, all indicators point to a bullish ETH. However, in…

Overstock’s tZERO Tokenizes Upcoming ‘Atari: Fistful of Quarters’ Movie

tZERO, the cryptocurrency wing of American retail giant Overstock, will tokenize forthcoming motion picture “Atari: Fistful of Quarters,” according to a press release published on July 9. Per the release, tZERO has partnered with the upcoming movie’s producers to develop a token dubbed “Bushnell,” which will be sold by the film production and financing company Vision Tree. Token owners will purportedly get shares of movie earnings, and receive additional benefits, including the ability to vote on the movie’s trailer and make a point of choosing the movie cast. The upcoming…

Bitcoin Is the ‘Single Best’ Financial Hedge: Warren Buffett ‘Disciple’

Venture capitalist Chamath Palihapitiya, a self-proclaimed “disciple” of billionaire Warren Buffett, says bitcoin is the best financial hedge against an uncertain world economy. And unlike his anti-crypto mentor Buffett, Palihapitiya thinks you should buy some bitcoin to protect yourself. “It’s the single best hedge against the traditional financial infrastructure,” Palihapitiya told CNBC. “Whether you support the fiscal and monetary policy or not, it doesn’t matter. This is the schmuck insurance you have under your mattress.” Palihapitiya first bought the original cryptocurrency several years ago when its price hovered at $100.…

Russia to Postpone Adoption of Bill on Digital Currencies

Russia’s parliament, the State Duma, may defer the adoption of the country’s major crypto bill “On Digital Financial Assets” (DFA) until the autumn session, local news outlet TASS reported on July 9. The Duma is considering shifting the adoption of the DFA bill to the autumn session, while the representatives have largely agreed on a bill on crowdfunding, according to the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov. Aksakov further explained that officials have not been able to reach a common position on the fate of…

The Bitcoin and Gold Advantage, Will BTC Trounce Status Quo?

Bitcoin (BTC) uptick, adds 16.7 percent The entry of Lagarde as ECB chair is bullish for cryptocurrencies Gold and Bitcoin, according to leading analysts, are certified safe havens. The global economy may end up floundering. However, the entry of Christine Lagarde as the ECB chair is bullish news for cryptocurrencies like Bitcoin. Thus far, BTC is up 16.7 percent week to date. Bitcoin Price Analysis Fundamentals The battle for the next generation store of value is a fierce contest between gold and Bitcoin. While the former has a well tabulated…

Bitcoin Marketplace with 300 Payment Methods Integrating into Large Crypto Exchange

A peer-to-peer Bitcoin marketplace that offers more than 300 ways to buy Bitcoin has announced it is being integrated into BitMart, a global digital asset trading platform. Paxful enables its users to purchase Bitcoin using bank transfers, debit cards, online wallets like PayPal and an array of gift cards — including well-known brands such as Amazon, iTunes, Google Play and Steam Wallet. Many of these payment methods enable consumers to access the cryptocurrency instantly. The platform has now entered into a joint venture with BitMart, a digital asset trading platform…

LG Applies for ‘ThinQ Wallet’ Crypto Wallet Trademark in the U.S.

South Korean technology behemoth LG applied for the “ThinQ Wallet” trademark with the United States Patent and Trademark Office (USPTO) on July 2, data published on the official office’s website shows. According to the filing documents, the trademark is for services concerning transaction and settlement services, mobile banking, “issuance of cyber money,” and “payment application software for mobile phones” among others. ThinQ is a brand first used by smart refrigerator introduced by the company in 2011 at the consumer electronics show. Nowadays, also multiple smartphones have been launched under the…

Bitcoin Targets the $14,000 Level amidst Positive Fundamentals

Bitcoin, whose price fell close to the $9,500 level last week, has dramatically switched its interim bias upside down. The world’s leading cryptocurrency on Monday soared to a session high of $12,829.96, adding over 32 percent to its month-to-date low on San Francisco-based Coinbase exchange. The upside price action further brought bitcoin closer to its 2019 peak of $13,868.44, prompting speculators to envision a double top scenario. Bitcoin Heading to Form Double Top | Image Credits: Josh Rager Technically, a double top situation is alarming because of its tendency to fuel bearish…

Polish Crypto Exchange BitMarket Shuts Down Citing Liquidity Loss

Polish cryptocurrency exchange BitMarket announced its shutdown on its official website on July 8. When trying to access the exchange through its website, users are instead greeted with the following text message in both English and Polish: “Dear Users, We regret to inform you that due to the loss of liquidity, since 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.” Leading cryptocurrency analytics website CoinMarketCap shows that the trading platform was not popular. The volume reported by the website at press time is…