Please share if you find this article interesting. Notes From the WEF: Cash Is Dead, Long Live Digital Cash DAVOS, Switzerland – Consensus is building on one issue at the World Economic Forum in Switzerland: Cash is dead. “Physical money is out,” said B.S. Kohli, an economic advisor to the head of the Indian state of Punjab. Mothanna Gharaibeh, Jordan’s minister of digital economy and entrepreneurship, agreed. As of this year, Gharaibeh said, Jordanians can no longer pay for government services, from taxes to hospital bills, with cash. They must use electronic payment systems like bank transfers or mobile wallets. “It’s going to be a tough transformation,” he said, referring to the nation’s poor and unbanked populations. “But refugees can take mobile wallets using their UN
Please share if you find this article interesting. CoinDesk Q4 2019 Review: A Year in Suspended Animation It has been over 10 years since the creation of cryptocurrencies, and while clear narratives have emerged to justify their existence, none are decisively supported by data. For example, charts suggest bitcoin’s use case as a store of value is taking hold among some new investors, who have been shown to hold the asset through price run-ups. However, other metrics such as bitcoin’s correlation to gold suggest that, across the entire body of bitcoin investors, most are using the asset as something far different from "digital gold." On ethereum, DeFi has made impressive gains, but the shape of that line and a broader decline in user numbers suggest that the "web 3.0" narrati
Please share if you find this article interesting. Bitcoin Cash Miners Propose Controversial Soft Fork for Zcash-Style Development Fund A group of bitcoin cash miners is preparing a soft fork to redirect some of the block rewards into a new zcash-style development fund. In a medium post Wednesday, Jiang Zhuoer, CEO of mining pool BTC.TOP, said that a group of some of the largest bitcoin cash mining pools were preparing to soft fork the network to implement a "short-term donation plan" that would cut block rewards by 12.5 percent in order to fund network development. "Investment in software and commons is crucial to secure a bright future for Bitcoin Cash," the post reads, arguing that neglect can have a "damaging" effect on the network. "We can avoid these problems by providi...
Please share if you find this article interesting. Bitcoin Faces Move to $8,200 After Dropping Out of Trading Range View Bitcoin’s range breakdown has opened the doors for a deeper pullback to support levels at $8,200 and $8,000. The short-term indicators have turned bearish, supporting the case for further losses. A move above $8,750 is needed to revive the immediate bullish view. The broader outlook will remain bullish as long as prices are holding above $7,700, according to the weekly chart. Bitcoin has dived out its recent trading range, opening the doors for a pullback to deeper support levels. The top cryptocurrency ran into offers around $8,580 at 08:35 UTC and fell through the long-held support of $8,460 in a few minutes to hit a low of $8,340 – a level last see
Please share if you find this article interesting. Meet the Crypto Angel Investor Running for Congress in Nevada "I would love to sit down with President Trump and have a discussion around bitcoin and cryptocurrency," Lisa Song Sutton, an entrepreneur and bitcoin ATM investor in Las Vegas, told CoinDesk. Sutton might have a better shot than most at having such a conversation. She's running for Congress in the Fourth Congressional District of Nevada, one of nine people currently competing in the June 9 Republican primary to see who will face off against the incumbent, Rep. Steven Horsford, a Democrat, in the general election in November. Were she to win, Sutton would be a likely candidate to join the Congressional Blockchain Caucus, co-chaired in the House by Republicans David...
Please share if you find this article interesting. Retail Accumulation? Number of Bitcoin Addresses With One or More Coins Sees Solid Rise A key on-chain metric has witnessed growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders. As of Jan. 14, there were 784,000 addresses holding one or more bitcoins, up nearly 11 percent from 707,000 seen a year ago, according to blockchain intelligence firm Glassnode. The number has more than doubled since early 2015. Number of Addresses with One or More Bitcoins Compared to BTC Prices Source: Glassnodes "The steady rise is the result of accumulation by retail buyers," according to Connor Abendschein, crypto research analyst at Digital Assets Data in Denver. Address growth can also come f
Please share if you find this article interesting. Bitcoin Price Indicator Eyes First Bullish Turn Since August View Bitcoin's case for a rally to $10,000 over the next few weeks looks stronger with the weekly MACD histogram about to turn bullish for the first time since August. Bitcoin is trading in a sideways manner in the $8,460-$8,750 range for the second day. A range breakdown could be followed by a quick slide to $8,200-$8,000. A range breakout would expose the 200-day average lined up at $9,015. A widely tracked bitcoin price indicator is about to flash a bullish signal for the first time in five months. The moving average convergence divergence (MACD) histogram, a technical tool used to gauge trend strength and trend reversals, looks set to cross above zero on the
Please share if you find this article interesting. CoinDesk at WEF 2020: Crypto Themes to Watch as Davos Gets Underway CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Below is the first edition of our pop-up newsletter, CoinDesk Confidential: Davos. Subscribe below. Get your Fourth Industrial Revolution hardhats on – it’s time to ponder the slew of problems ailing today’s global economy! Hello, it’s Monday, Jan. 20, 2020, the preamble to the 50th Annual Meeting of the World Economic Forum begins today. I’m Zack Seward, managing editor of CoinDesk, and I’ll be your guide to all things blockchain and crypto at this yearly confab of global leaders and their many hangers-on.
Please share if you find this article interesting. After Sudden 8% Drop, Bitcoin Bulls Must Defend Price Support at $8,460 View Bitcoin's dramatic overnight fall from $9,200 is telling a tale of buyer exhaustion. A break below Sunday's low of $8,461 would invalidate the recent bullish trend and could yield a drop to $8,200-$8,000. Dips could be short-lived as the longer duration charts are still reporting bullish conditions. Bitcoin may make another attempt to pass the 200-day average at $9,027 if support at $8,461 continues to holds ground. Bitcoin’s price rally is looking tired following Sunday’s sudden drop from above $9,000. Even so, the bias remains bullish with support near $8,460 still intact. The top cryptocurrency by market value ran past the 200-day average at $9
Please share if you find this article interesting. How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight? Co-founder Ketuan “Micree” Zhan was stripped of his director role at not only Beijing Bitmain Technology, but the cryptocurrency miner maker's parent entity, BitMain Technologies Holding Company, corporate records show. A filing of the Cayman Islands–incorporated holding company, submitted Dec. 10, reveals that Zhan’s role as a board director was “ceased” on Oct. 30. That was one day after rival co-founder Jihan Wu returned to the company’s Beijing office and announced the seeming conclusion to a long-running power struggle. The takeover may have lasting effects on the world’s largest bitcoin miner maker, which is reportedly filing for an IPO in the U.