Day: July 16, 2019

Polkadot Introduces Its Experimental Version Dubbed ‘Kusama’

TradingBTC

Blockchain interoperability protocol Polkadot has introduced its “canary network” dubbed Kusama, which represents an experimental version of the protocol. In the blog post published on July 16, Polkadot presented an early, experimental version of the protocol called Kusama that is designed for real economic conditions. Kusama will purportedly enable developers to build and use a parachain or test Polkadot’s governance, staking, and other functions in a real environment. To “step into this unknown and see what chaos awaits” Gavin Wood, founder of Polkadot and associated Web3 Foundation, said in the…

Ethereum Price (ETH) Dives Below $200 & BTC Down 15%

TradingBTC

ETH price declined heavily and broke the $220 and $210 support levels against the US Dollar. The price is down around 15% and it even broke the $200 support area to move into a bearish zone. There is a key bearish trend line forming with resistance near $210 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to slide further below the $192 and $190 support levels in the near term. Ethereum price is declining heavily and is already down more than 15% versus the…

Cuba Libra? Island Nation Slowly Explores Cryptocurrency Options

TradingBTC

Cubans are quietly exploring cryptocurrency use-cases on the politically isolated island, even watching Facebook’s Libra project with cautious optimism. Cuban expat Claudia Rodriguez of the Brazilian startup Fusyona, the sole bitcoin exchange proactively serving Cubans, told CoinDesk the exchange has nearly 700 accounts since launching in 2018. She said up to 60 users purchase a total of one or two bitcoins every week. “For Cuba, that is a lot,” Rodriguez said. “Cuba is probably going to be very interesting for Libra [developers] and I hope there will be some potential…

Bitcoin Noticeably Absent From Senate Hearing on Facebook’s Libra

TradingBTC

For a panel about a proposed cryptocurrency, Tuesday’s Senate Banking Committee hearing was notably light on crypto talk. Bitcoin was barely mentioned during the two-hour session and most of the lawmakers seemed far less concerned with the technology than with who was planning to leverage it: Facebook. Sen. Brian Schatz (D-Hawaii) put it perhaps the most succinctly. Responding to Facebook executive David Marcus’ oft-repeated talking point that the Libra project was important for the U.S. to avoid being left behind in the blockchain revolution, Schatz said: “You’re making an argument for…

Ranking Senate Committee Members Discuss Regulations

TradingBTC

United States Senators Mike Crapo and Sherrod Brown, respectively the Senate Banking Committee chair and ranking member, shared their views on crypto regulations. Both appear to want comprehensive policy for big tech companies. The senators made their remarks while speaking with the press following the Senate Banking Hearing on Facebook’s Libra on July 16. Senator Crapo stressed the importance of building an overarching regulatory framework for data protection — not just for Facebook, but for all Internet companies looking to launch their own cryptocurrencies, á la the Financial Stability Oversight…

Venezuelan Investors File Lawsuit With US Court in Connection With $30M Crypto Fraud

TradingBTC

A group of Venezuelans has filed a lawsuit with a Florida Federal Court in connection with a Ponzi scheme involving $30 million in cryptocurrency promoted by Canadian investment radio host Harold Seigel. Payment and commerce news outlet Pymnts.com reported today, July 16, that seven Venezuelans claim to have been lured into a $30 million worth digital currency Ponzi scheme conducted by companies such as Eagle Financial Diamond Group Inc. and Argyle Coin. The cryptocurrency involved into the fraud was reportedly pegged to diamonds. The frauds allegedly used raised funds to…

Global Blockchain in Healthcare to Reach $1.7 billion by 2026

TradingBTC

The volume of blockchain in healthcare market worldwide is forecast to reach more than $1.7 billion by 2026. In a press release published on July 16, consulting services to information technologies firm Acumen Research and Consulting (ARC) has projected that the global blockchain in healthcare market on the global scale will reach over $1.7 billion by 2026, with a compound annual growth rate of 48.1%. Based on geography, America purportedly dominates with the largest share in the global blockchain in healthcare market, wherein the United States is a mature market…

Bitcoin (BTC) Cracking As Government Drums For Regulation

TradingBTC

Bitcoin (BTC) is down 14.8 percent Steven Mnuchin is calling for cryptocurrency oversight and compliance Eventual regulation of cryptocurrencies in the US, following Steven Mnuchin presser, could have far-reaching consequences on Bitcoin and cryptocurrencies. In the meantime, BTC is on edge and may slide to $9,500. Bitcoin Price Analysis Fundamentals From launch, Bitcoin is considered a threat to the status quo. However, scrutiny was amplified following the parabolic rise of digital asset prices in Q4 2017 and meltdown of 2018 that highlighted the volatile nature of these emerging assets. Attractive…