Friday, April 10Your Daily Bitcoin & Altcoin News Portal
Fintech Lenders May Struggle to Qualify Under U.S. Gov’t COVID-19 Relief Plan

Fintech Lenders May Struggle to Qualify Under U.S. Gov’t COVID-19 Relief Plan

BITCOIN
Please share if you find this article interesting. Fintech Lenders May Struggle to Qualify Under U.S. Gov't COVID-19 Relief Plan Nonbank fintechs may be left unable to contribute to the United States government’s relief plan for small businesses hit by the COVID-19 crisis. On April 3, the U.S. Small Business Administration (SBA) launched a Paycheck Protection Program (PPP) as part of the federal government’s $2 trillion coronavirus relief package. The PPP aims to support small businesses during the pandemic by providing them with access to low-interest, forgivable loans.  The $349 billion loan program — specifically targeted at Main Street firms that need urgent liquidity to cover their payrolls and other expenses — is actively seeking to enlist private-sector lenders such as ban
Nym Blockchain Privacy Mixnet Opens for User Testing

Nym Blockchain Privacy Mixnet Opens for User Testing

BITCOIN
Please share if you find this article interesting. Nym Blockchain Privacy Mixnet Opens for User Testing Swiss blockchain startup, Nym Technologies, has invited the general public to take part in the next phase of its mixnet platform’s user testing on April 8. The privacy infrastructure promises advanced protection against mass-surveillance, and comes at a time when governments globally are expanding their powers in the name of fighting the COVID-19 pandemic. The good mixer Users are initially invited to run mix-nodes on the Nym testnet. A global network of mix-nodes will form the mixnet, which acts to irreversibly hide patterns and metadata in internet traffic by mixing data packets with those of other users. Nym claims that, unlike VPNs and Tor, the mixnet can even defeat Nation
First Mover: As Fed Assets Top $6T, BitMEX Has Some Inflation-Busting Advice

First Mover: As Fed Assets Top $6T, BitMEX Has Some Inflation-Busting Advice

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. First Mover: As Fed Assets Top $6T, BitMEX Has Some Inflation-Busting Advice Bitcoin has been relatively stable in recent days, pausing after a powerful rally that saw prices nearly double in under a month. What hasn't paused is the Federal Reserve's money machine: A report late Thursday showed that the central bank's total assets surged this week above $6 trillion for the first time in its 107-year history. You're reading First Mover, CoinDesk's daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You
Cashaa Adds Support for Cashing Out Binance Chain Tokens

Cashaa Adds Support for Cashing Out Binance Chain Tokens

BITCOIN
Please share if you find this article interesting. Cashaa Adds Support for Cashing Out Binance Chain Tokens United Kingdom-based startup Cashaa has developed a fiat gateway for BEP2 tokens on Binance Chain. Announced on April 9, the integration would let users sell and buy tokens directly for fiat currencies. Specifically, Cashaa will support the U.S. dollar, the U.K. pound sterling, the euro and the Indian rupee. The fiat gateway would connect to common banking networks for each respective currency, such as the Faster Payment Service in the U.K., the Single Euro Payment Area network in the European Union, India’s National Electronic Funds Transfer and Automated Clearing House payments in the U.S. Limited support for the global SWIFT system will be available for the pound sterlin
New York Power Plant Sells Bitcoin Hashpower to Institutional Investors

New York Power Plant Sells Bitcoin Hashpower to Institutional Investors

BITCOIN
Please share if you find this article interesting. New York Power Plant Sells Bitcoin Hashpower to Institutional Investors A Bitcoin-mining power plant in upstate New York has sold 106 petahash of its computing power to an undisclosed buyer using a “hashpower contract” settled in Bitcoin (BTC). The contract — brokered by BitOoda Digital — first launched in January with the aim of providing institutional investors to purchase large blocks of Bitcoin hashpower in over-the-counter markets. On April 10, the chief financial officer of Greenidge Generation claimed that the new instrument provides: “The same kind of time-tested hedging capabilities seen in traditional commodity markets [...] bring[ing] the benefits of clean and energy-efficient bitcoin mining from Greenidge to institut
Bitcoin Evolution: Wanna Make $1 Million in 2 Months Like Prince Harry and Meghan Markle? It’s a Scam | News Bitcoin News

Bitcoin Evolution: Wanna Make $1 Million in 2 Months Like Prince Harry and Meghan Markle? It’s a Scam | News Bitcoin News

BITCOIN
Please share if you find this article interesting. Bitcoin Evolution: Wanna Make $1 Million in 2 Months Like Prince Harry and Meghan Markle? It's a Scam | News Bitcoin News A bitcoin investment scheme has reportedly claimed that Prince Harry and Meghan Markle are making millions using a “wealth loophole” and have urged everyone to check out Bitcoin Evolution. However, this is a sales tactic by a known scam, claiming that some members earned their first million in just 61 days. Also read: Bitcoin Revolution: Wanna Earn $1,000 a Day? Government Warns About This Scam Investment Scheme Uses Prince Harry and Meghan Markle to Attract Investors The world’s financial crisis and significant job losses have driven many people to look for opportunities to make money online. There is an
Bitcoin Whale Numbers Hit 2-Year High as Investors Mirror 2016 Halving

Bitcoin Whale Numbers Hit 2-Year High as Investors Mirror 2016 Halving

BITCOIN
Please share if you find this article interesting. Bitcoin Whale Numbers Hit 2-Year High as Investors Mirror 2016 Halving There are more Bitcoin (BTC) whales now than at any point in the past two years — and that mimics a trend from its 2016 halving, data shows. In its latest Week On-Chain report on April 9, monitoring resource Glassnode revealed that current numbers of major Bitcoin investors are extremely similar to early 2016. Glassnode: whales see “room for growth” Specifically, 30 days before Bitcoin’s 2020 halving, the number of entities holding at least 1,000 BTC ($6.92 million) is now just under 1,850. At the start of Q2 2016, several months before the previous halving, the number of such entities was almost exactly the same. The almost uncanny resemblance between these t
Chinese Gov’t Seeks Feedback on Data Security Standards for Blockchain, IT

Chinese Gov’t Seeks Feedback on Data Security Standards for Blockchain, IT

BITCOIN
Please share if you find this article interesting. Chinese Gov’t Seeks Feedback on Data Security Standards for Blockchain, IT China’s Ministry of Industry and Information Technology has called for feedback on draft guidance for standardizing data security in blockchain and other emerging technologies. In a document published on April 10, the ministry argued that data has become a “national basic strategic resource” and innovative element in social production.  While the rise of big data and accelerating the development of China’s telecoms and internet sectors is a boon for the country’s digital economy, developers and government must understand the profound importance of tackling emerging, complex and severe security risks and challenges involved. The ministry thus calls for ramp
The Pandemic Couldn’t Have Provided a Better Environment for Crypto

The Pandemic Couldn’t Have Provided a Better Environment for Crypto

BITCOIN
Please share if you find this article interesting. The Pandemic Couldn’t Have Provided a Better Environment for Crypto The Fed opening the floodgates to unlimited standing quantitative easing paired with a $6 trillion stimulus package is an unprecedented event. It’s the most heavy-handed intervention by the Fed to date. For many crypto proponents, it is a rallying cry amid an interventionist monetary policy reminiscent of the 2008 environment that led to the release of the Bitcoin (BTC) whitepaper by its anonymous founder. The giant stimulus package equates to roughly 28% of the United States’ 2019 GDP, arriving while credit markets are in flux and bond yields are trending toward zero. As the sharpest decline in American history, current market shock to the S&P 500 may only be a
Bitcoin Cash Could Face 51% Attack for $10,000 in Rented Hashpower

Bitcoin Cash Could Face 51% Attack for $10,000 in Rented Hashpower

BITCOIN
Please share if you find this article interesting. Bitcoin Cash Could Face 51% Attack for $10,000 in Rented Hashpower The recent Bitcoin Cash (BCH) block reward halving has wreaked havoc on the cryptocurrency’s hash rate — with an apparent miner exodus plummeting hash power more than 80% over two days. As a result, launching a 51% attack on BCH currently costs less than $10,000 per hour, raising concerns regarding the security of the network. BCH Hash rate plummets 80% In response to BCH’s block rewards dropping from 12.5 BCH to 6.25 BCH, many miners appear to have migrated their hash power to the Bitcoin (BTC) network. According to f2pool, BCH hash rate dropped from nearly 4,200 pentahashes per second (PH/s) to as low as 720 PH/s within two days of the halving taking place. Over