Wednesday, August 12Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

Fiat-like Convenience for Crypto Users Has Arrived

Fiat-like Convenience for Crypto Users Has Arrived

BITCOIN
Fiat-like Convenience for Crypto Users Has Arrived The saying goes that “cash is king,” but that doesn’t seem to be the case any longer. The mobile payment industry is projected to grow to over $1 trln in 2019,  rising to $3 trln by 2022, according to research firm Statista. Even more promising for mobile payments is the demographics of that growth. India already has 98% of economic transactions being conducted electronically and China has a similarly high percentage. With the increase in economic development in these countries, the demand for effective mobile solutions is going to be substantial. Add to this the huge demand for cryptocurrency in many parts of the world. Not only in the West has crypto grabbed headlines, but also in Asia (notably China, where enthusiasm for mining a
Industries That Are Nailing Blockchain Already

Industries That Are Nailing Blockchain Already

BITCOIN
Industries That Are Nailing Blockchain Already The cryptocurrency market has been experiencing exponential growth throughout 2017. With Ethereum making the jump from $40 to $320 at the time of writing, and Bitcoin shattering previous records with all-time highs, plus eight other cryptocurrencies with a total market capitalization over $1 bln, the entire ecosystem has reached a market value of over $170 bln. Image: coinmarketcap While the value of cryptocurrencies and associated projects continues to grow, the underlying technology behind the digital assets, Blockchain, has been implemented in the worlds of financial services, supply chain logistics, healthcare, music, and more. Blockchain technology represents a potential disruption of nearly every conceivable industry, even being e...
Abkhazia Will Create Own Crypto and Abandon ‘Normal Money’

Abkhazia Will Create Own Crypto and Abandon ‘Normal Money’

BITCOIN
Abkhazia Will Create Own Crypto and Abandon ‘Normal Money’ The unrecognized breakaway republic of Abkhazia is issuing its own cryptocurrency and could “abandon normal money in several years.” The little-known country, formerly part of Soviet Georgia before a bloody independence war in the 1990s, is still not considered real by the international community. With the help of Blockchain and continuing support from Russia, however, Abkhazia’s economy minister Adgur Ardzinba confirmed the ambitious plans at a Moscow conference last week. Abkhazia, which relies heavily on Russian funding, is looking to use Abkhazian Republic Coin (ARC) to aid investment, and offer transparent municipal financial operations. The cost, according to a presentation in Moscow, is around $1 bln, local news outle

Banks like Goldman Sachs are Recognizing Bitcoin as a Safe Haven Asset

PRICE ANALYSIS
Goldman Sachs analysts including Jeffrey Currie and Michael Hinds have compared Bitcoin to gold, and the relevance of Bitcoin as a safe haven asset in the global economy. Demand For Bitcoin as Safe Haven Asset is Increasing Over the past two years, the demand for Bitcoin has increased at an exponential rate, as the market cap of Bitcoin surpassed that of leading financnail institutions such as Goldman Sachs. Specifically, as billionaire investors including hedge fund legend Mike Novogratz have stated, institutional and retail investors have begun to invest in Bitcoin as a long-term investment and a safe haven asset. “I can hear the herd coming,” said Novogratz. “I was just in San Francisco, met with a few big institutional investors and their still a ways away but they’re coming. Lots of f
Wall Street Driving Bitcoin Price 6k Surge, Says Bloomberg

Wall Street Driving Bitcoin Price 6k Surge, Says Bloomberg

BITCOIN
Wall Street Driving Bitcoin Price 6k Surge, Says Bloomberg Wall Street is driving Bitcoin’s price rise this month according to Bloomberg, even as Goldman Sachs still picks gold over crypto. In comments on Bloomberg TV, the publication’s analyst Edward Robinson said bank clients are “knocking on the door” after seeing charts showing Bitcoin’s 2017 growth. He commented: “I think Wall Street may actually be responsible for driving the price, because it’s with every announcement that Wall Street is thinking of embracing Bitcoin as a new asset class that we start to see this surge.” The debate over Bitcoin’s attractiveness versus precious metals meanwhile is becoming a preoccupation for major investment bank Goldman Sachs. After its CEO suggested an open-minded approach to crypto earl
Bitcoin Price Watch; Here’s What’s On This Evening

Bitcoin Price Watch; Here’s What’s On This Evening

PRICE ANALYSIS
So that is another day complete from a European perspective in our bitcoin price trading efforts and, just as we suggested might be the case this morning, it’s been a pretty strange one. Action is all over the place at the moment and this is making difficult to establish any sort of consistent strategy. It’s not impossible, of course, and our intraday strategies were designed to make it as simple as possible, but it does mean that we have had to be extra careful with our target placement and our risk management parameters so as to avoid being chopped out on the back of any erratic movement. So, with this noted, let’s try and move forward and continue to draw profit from the market as and when things move. As ever, take a quick look at the chart below before we get started so as to get an i
Technologically Inept Football Manager Punts ICO

Technologically Inept Football Manager Punts ICO

BITCOIN
Technologically Inept Football Manager Punts ICO There have been a number of strange celebrity endorsements in recent months for ICOs, from Floyd Mayweather to Paris Hilton, but football manager Harry Redknapp seems to take the oddity-cake. Harry Redknapp, a famous face and name around English football, has tweeted - which is rare enough as it is - that he is “proper excited” about ICO Electroneum. Redknapp has stated publicly, when charged with a tax evasion charge in 2012, that he is technologically inept. At that time, he said he didn’t know how to work a computer, had never heard of email and had never sent a text message. ICO fever Celebrity endorsements have become quite regular for ICOs, with their details however remaining shaded. Stox, a prediction market ICO, used Floyd Ma
Fred Wilson Denies Crash Prediction But Stresses 3-5% Ideal Crypto Holdings

Fred Wilson Denies Crash Prediction But Stresses 3-5% Ideal Crypto Holdings

BITCOIN
Fred Wilson Denies Crash Prediction But Stresses 3-5% Ideal Crypto Holdings Serial investor Fred Wilson has hit back at press reports that traders should have “10-20 percent” of assets in cryptocurrency. In a blog post this weekend subsequently circulated by Bloomberg, Wilson, who is a famous advocate of crypto and has expressed caution on ICOs, said that around five percent is a more sensible upper limit. “I think that’s likely at the high end of what the average person should have, but I also think it’s not a ridiculous number for the average person to have,” he wrote. He added he himself had crypto investments amounting to around five percent of his portfolio. A previous post had been taken out of context, Wilson continued, by Twitter users incorrectly propagating the 10-20 perce
500 Million Users Affected Every Month By Pirates to Mine Cryptocurrency

500 Million Users Affected Every Month By Pirates to Mine Cryptocurrency

BITCOIN
500 Million Users Affected Every Month By Pirates to Mine Cryptocurrency Experts at AdGuard have suggested that the new phenomenon that has seen a couple of sites caught using website visitor’s CPU power to mine cryptocurrency, may in fact be a bigger issue than first believed. First there was illegal torrent site, The Pirate Bay, that was shown to be secretly mining Monero through Javascript; a way for them to increase their revenue separate from advertising. Then it was online streaming site, ShowTime, that also exhibited the same Javascript. However, the pirate mining pandemic seems to be much larger as AdGuard have suggested that over 220 sites are actively, and mostly secretly, doing it, affecting over half-a-billion users a month. Solving math problems Many of these sites, esp
Fork Wars: SWAT Team Targets BitGo’s Lopp in Suspected Bitcoin Troll

Fork Wars: SWAT Team Targets BitGo’s Lopp in Suspected Bitcoin Troll

BITCOIN
Fork Wars: SWAT Team Targets BitGo’s Lopp in Suspected Bitcoin Troll BitGo engineer Jameson Lopp reportedly received a visit from a police SWAT team, after the Bitcoin capacity debate turned personal. "In statements on Twitter, Lopp, who is well-known for his critical stance on Bitcoin forks, said a “fake hostage situation” led “dozens of cops with rifles” to his home Monday." While it is unknown what specifically sparked the escalation, Lopp immediately received support against what he called the “anonymous coward,” himself responding that he was “not so easily intimidated.” Dear anonymous coward who just sent dozens of cops w/ rifles to my house w/a false hostage situation report: I am not so easily intimidated. — Jameson Lopp (@lopp) October 16, 2017 Among those to take his si