roadrunner

Following the Bitcoin Cash upgrade, the BCH proponent known as Mobtwo published a post on the read.cash blogging website called “Bitcoin Cash – Simple Fundamentals.” The editorial’s author says he wholeheartedly believes that BCH will one day overtake BTC in the long run. After the read.cash blog post published, Mobtwo’s article was tipped $10,000 worth of BCH from a single donor for his strong convictions. The BCH supporter known as Mobtwo has been well known in the Bitcoin Cash community for quite some time now. On November 18, three days after the BCH upgrade, Mobtwo decided to pen a few opinions on the web portal read.cash. The website read.cash is a blogging site fueled by BCH payments and it’s an extremely popular platform among BCH proponents. At the time of publication, there are 39,963 users on read.cash earning money for participation according to the web portal’s stats. In the article called “Bitcoin Cash – Simple Fundamentals,” Mobtwo said that “as long as the price for Bitcoin Cash remains affordable, I will continue to buy them every month.” This is because, in Mobtwo’s opinion, BCH works “so much better, in many ways.” Benefits include Cashfusion privacy, SLP tokenization, human-readable cash accounts, and a much larger network effect than most coins in existence. “This is really super simple to understand,” Mobtwo wrote on Wednesday. “Try sending $10 worth of Bitcoin or $10 worth of Ethereum or $10 worth of Bitcoin Cash to yourself. You end up with only $2 of Bitcoin because $8 went to transaction fees. You end up with $7.5 of Ethereum because $2.5 went to transaction fees. But you still end up with $10 worth of Bitcoin Cash,” the author added. Mobtwo insists that if BTC was a new coin today, with unreliable transactions and ghastly fees, he bets that “nobody would want it.” “This is nothing complicated, just simple common sense— Would you want to use a slow unreliable service that charges you $8 just to send $10?” Mobtwo asked. “You don’t need to be a rocket scientist to know that’s ridiculously stupid.” The author added: I am unshakable in my conviction that Bitcoin Cash will overtake Bitcoin in the long run because there is no rationale where humans would prefer to pay higher fees for an inferior unreliable slower service. And businesses will discover eventually these fees eat into their margins and it is no longer feasible to accept Bitcoin, but it is still feasible to accept Bitcoin Cash. Toward the end of the editorial, Mobtwo stressed that BTC looks more like a pyramid scheme and he believes truth will eventually prevail. The BCH proponent also said that there’s a great number of people who wish they could go back in time and buy bitcoin at a lower price, and with BCH they still can. “What makes Bitcoin popular in the first place is exactly what Bitcoin Cash is today, the ability to transact freely onchain peer-to-peer with anyone anywhere in the world for less than a cent,” Mobtwo emphasized. Following the post publishing on the read.cash platform, the well known BCH investor Marc DeMesel sent Mobtwo a generous donation of $10,000 worth of bitcoin cash. Mobtwo was extremely grateful for the donation and wrote: “I’m literally shaking from the generosity from Marc DeMesel,” he said after getting the massive tip. “That’s super motivating and I will work harder to keep growing the value of Bitcoin Cash,” Mobtwo added. “The pleasure is mine Mobtwo,” DeMesel responded. “The article is really good. It summarizes very well, in plain language, why Bitcoin Cash is a tremendous opportunity.” Following the tip, a number of BCH fans discussed the $10k tip sent to the author on Twitter and Reddit forums. Certainly, a $10,000 donation in digital currency, tells something about the dedication from the crypto community. What do you think about the $10,000 bitcoin cash donation to Mobtwo? Let us know what you think about this subject in the comments section below. The post Blog Author Tipped $10,000 for Well Phrased Peer-to-Peer Cash Conviction appeared first on Bitcoin News. View the full article

During the last few months, a slew of celebrity luminaries, millionaires, and even a number of billionaires have announced taking the plunge into the crypto asset economy. On Thursday evening, the former rapper Robert Bryson Hall II, known professionally as “Logic,” revealed he purchased $6 million worth of bitcoin last month. The retired American rapper Logic has made a name for himself during the last ten years when he started his songwriting and record producing career in 2010. During the last decade, Logic released six studio albums and was nominated for two Grammy awards. In 2017, Logic achieved mass popularity when his album dubbed “Everybody” hit the number one position on the U.S. charts in 2017. Grammy-nominated and former American rapper Logic reportedly purchased $6 million worth of bitcoin (BTC) according to an Instagram post published on Wednesday. Logic also changed his Twitter account name to “Bobby Bitcoin.” These days, Logic is retired from the rap scene and he announced leaving in July 2020 after he released his final record “No Pressure.” Logic is also into cryptocurrency as the hip-hop artist disclosed on Instagram that he purchased $6 million worth of bitcoin in October. Last month, a single BTC was swapping above the $13k handle and this week bitcoin has been trading above the $18k zone. “My $6 million in bitcoin last month. F*** it. YOLO. Seriously,” Logic posted to Instagram. The Instagram post also asked if the bitcoin purchase was a win or a lose. A great number of Instagram users responded to Logic’s bitcoin post with both win or lose responses and during the last 15 hours, the post has been viewed 91,765 times. Additionally, on Twitter the former rapper changed his account name to “Bobby Bitcoin” and he’s been talking about the crypto asset on that platform as well. “Alright f*** Twitter I’m going to play chess and count my bitcoin,” Logic tweeted on Wednesday. One person responded to the lyricist’s tweet and said “What do you mean count it? All you gotta do is check your balance.” Besides bitcoin, Logic’s Twitter feed is also filled with posts about playing chess and opening decks of Pokemon cards. Last October, Logic reportedly purchased a rare first edition Charizard Pokemon card worth $226,000, which was also a “YOLO” purchase. Logic’s bitcoin purchase announcement follows the hit record producer “Murda Beatz” telling his fans that he purchased bitcoin last October. Murda Beatz and Logic also follow a slew of hip hop recording artists that have jumped into the cryptocurrency economy during the last decade. Other music stars that have revealed an interest in cryptocurrencies and bitcoin over the years include celebrities like Jermane Prime, Nas, RZA, 50 Cent, Snoop Dogg, Young Thug, Swae Lee, and Talib Kweli. What do you think about the former American rapper Logic buying $6 million worth of bitcoin? Let us know what you think about this subject in the comments section below. The post Grammy Nominated Hip-Hop Star Logic Dropped $6 Million Into Bitcoin Last Month appeared first on Bitcoin News. View the full article

PRESS RELEASE. Bitcoin.com, the go-to web portal for everything bitcoin, announced it reached a cooperation agreement with Japanese media CoinOtaku. A subsidiary of Beat Holdings Limited, CoinOtaku (CoinPartner) has over 900,000 views per month in its cryptocurrency portal and thousands of subscribers to its YouTube channel. In addition to the media business, Beat Holdings also owns Crypto Messenger Wallet – an app capable of showing news updates, price charts, messenger, and sending and receiving crypto assets. It is now possible for users to store Bitcoin Cash (BCH) on the wallet, helping to expand the reach of the popular cryptocurrency. Beats Holdings will customize this app for CoinOtaku and create the CP Wallet app. Bitcoin.com and CoinOtaku will implement a joint marketing campaign to contribute to the further spread and expansion of BCH and the development of a sound crypto asset investment market in Japan. Both sites will link to each other and the two wallets will link to Bitcoin.com as well. Beat Holdings Limited is a global investment company developing applications based on blockchain technology including building a media blockchain ecosystem based on proprietary intellectual properties and technology, and the licensing of intellectual properties. Through its subsidiary, GINSMS Inc. (listed on Toronto Venture Exchange, TSXV: GOK), it provides mobile messaging service, software products and services, and Media business through CoinOtaku. Beat is listed on the Tokyo Stock Exchange’s Second Section (TSE: 9399), incorporated and registered at the Cayman Islands, headquartered in Hong Kong, with subsidiaries in Japan, Singapore, Malaysia, Indonesia, China and Canada. About Bitcoin.com Founded in 2015, Bitcoin.com is working to make money better—for everyone. Whether it’s your paycheck, pension, or piggy bank savings, money matters to us all. So, rather than relying on banks—with their fees, delays, and fraud risk—we stand for money without limits. That’s why we support Bitcoin Cash, a global digital currency that only you can control. Our products make both Bitcoin Cash and Bitcoin more accessible. You can buy, use, and store Bitcoin securely, monitor market prices and news, and even earn Bitcoin through mining. We also help businesses accept Bitcoin payments and support developers building on Bitcoin. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post Bitcoin.com Announces Cooperation Agreement With Japanese Media CoinOtaku appeared first on Bitcoin News. View the full article

As the crypto economy sets its sights on half of a trillion in USD value, digital currency derivatives markets are swelling significantly. Bitcoin futures have surpassed a six-month high at $52 billion, while the crypto asset’s options markets have jumped massively too. Additionally, bitcoin options markets indicate that traders wager there’s a 29% chance the price of BTC will be above $20,000 by December 25, 2020. At the time of publication, the entire cryptocurrency economy is hovering just below the 500 billion-dollar mark. While cryptocurrencies like BTC and ETH have seen solid spot market gains, crypto derivatives have skyrocketed with significant interest. Data from the website Coinalyze indicates that global BTC futures have spiked over $52 billion, which is the highest derivatives markets have seen in over six months. The bitcoin futures momentum touched an all-time high (ATH) and the researchers from Skew.com tweeted about the milestone. “All-time high for BTC futures daily volumes yesterday, exceeding the previous record by more than 20%,” the Skew analytics team said on Thursday. The top three Bitcoin futures market leaders in late 2020 include exchanges like Okex, Binance, and Bybit, as the exchange Bitmex trails behind in the fourth position. As far as futures open interest is concerned, Okex captured $1.1 billion on Wednesday, November 19. Skew noted that there is strong demand for the three to six month upside sharing a perspective from the BTC volatility surface. Skew.com also highlighted bitcoin options markets and the probability of the crypto asset reaching the $20k handle. “The probability of bitcoin [at] $20k at year-end [equals] 25% according to the options market,” Skew also noted on Thursday. The leading options exchange Deribit, the trading platform that commands a lion’s share of the world’s bitcoin options, discussed the recent demand for bitcoin derivatives. Deribit, said on Wednesday afternoon (EST), that there is “a lot of speculation about BTC reaching a new ATH by the end of the year.” “Options markets indicate a 29% chance BTC’s price could be above $20,000 by December 25, 2020,” the exchange Deribit said. The exchange has seen new trading records as far as options action is concerned, and total Deribit open interest is over $4.5 billion between both bitcoin and ethereum markets. Deribit stats also show 194,797 bitcoin options contracts with a notional metric at $3.49 billion and ETH options notional is at $581 million. With anywhere between 25% to 29% of options swaps predicting the price will be above the $20k handle in late December, it doesn’t mean the bets guarantee the price will come to fruition. However, it does mean those traders are willing to bet money that BTC will reach that point at that particular time. Traders tend to believe derivatives markets like bitcoin futures and options can help forecast future market sentiment. Oftentimes many traders leverage the futures basis indicator or the bitcoin futures annualized rolling 3-month basis to gauge market sentiment. As of right now according to the futures basis indicator optimism is still quite high. What do you think about the recent bitcoin derivatives markets touching all-time highs and the probability of bitcoin reaching the $20k handle? Let us know what you think about this subject in the comments section below. The post Bitcoin Derivatives See Record Highs, Year-End BTC Options Show 29% Chance Price Crosses $20K appeared first on Bitcoin News. View the full article

The giant online rental marketplace based in San Francisco, Airbnb is considering supporting cryptocurrencies and blockchain technology. The news stems from the company’s initial public offering (IPO) prospectus with the U.S. Securities and Exchange Commission (SEC). Airbnb’s filing notes that future success will be dependent on adapting to new technologies such as tokenization and cryptocurrencies. The travel industry has been one of the hardest-hit sectors in the economy after the coronavirus outbreak shook the world. In a recent filing with the SEC, Airbnb has filed a prospectus on November 16 seeking a $1 billion initial public offering (IPO) in the United States. Within the pages of the Airbnb prospectus, the company mentions considering technologies like blockchain, cryptocurrencies, artificial intelligence (AI), and the “ability to integrate new or emerging payment methods.” In 2014, Airbnb representative Brian Chesky asked his followers on Twitter if Airbnb should accept bitcoin. A great number of respondents on Twitter said that the company should adopt cryptocurrencies. In 2016, during an interview with City A.M., Airbnb cofounder and Chief Technology Officer, Nathan Blecharczyk spoke about the M-pesa and blockchain technology. Should @Airbnb accept Bitcoin? — Brian Chesky (@bchesky) January 24, 2014 “Our future success will also depend on our ability to adapt to emerging technologies such as tokenization, cryptocurrencies, [and] new authentication technologies,” the Airbnb filing details. “As a result, we intend to continue to spend significant resources maintaining, developing, and enhancing our technologies and platform. However, these efforts may be more costly than expected and may not be successful.” While the firm mentioned blockchain, cryptocurrencies, and augmented reality, Airbnb saw a 39% revenue loss year-over-year from the coronavirus pandemic. The company says that after the major drop this year, Airbnb rebounded two months later. “In early 2020, as Covid-19 disrupted travel across the world, Airbnb’s business declined significantly, but within two months, our business model started to rebound even with limited international travel, demonstrating its resilience,” Airbnb states. Airbnb has stated in the past that it has no current plans to support cryptocurrency payments from blockchain networks like Bitcoin. Airbnb and Uber investor, Jeffrey Wernick, advocated in 2018 that “everybody should put something into crypto.” In April 2016, Airbnb did acquire the startup Changecoin when the billion-dollar firm “acqui-hired” seven developers from the now-defunct bitcoin tipping platform Changetip. New authentication technologies mentioned in the Airbnb prospectus included: “Biometrics, distributed ledger and blockchain technologies, artificial intelligence, virtual and augmented reality, and cloud technologies.” Airbnb’s IPO prospectus filed with the U.S. Securities and Exchange Commission (SEC) can be read in its entirety here. What do you think about the mega short term property rental company Airbnb mentioning cryptocurrencies and blockchain in its IPO prospectus? Let us know what you think about this subject in the comments section below. The post Airbnb IPO Prospectus Says Future Success Means Adapting to Cryptocurrencies appeared first on Bitcoin News. View the full article

PRESS RELEASE. Yearnify Finance is considered as one of the most innovative sources of passive income by most of the investors. It has drawn attention due to its potential high returns and extreme security measures. What is Yearnify Finance? Yearnify Finance is a community-centered DeFi-project, modeled to take the successful features of Yearn Finance (YFI), and improve upon them. Yearnify aims to bring the true value of yield farming finance accessible to all users. Yearnify offers the most secure and simple way to earn reliable yields on your assets. Yearnify is generally a platform composed of the protocols built on Ethereum. It increases the annual percentage yields (APY) of the cryptocurrencies which are deposited into the DeFi system. Yearnify Finance is a powerful DeFi Platform focusing on staking, farming, borrowing and mortgage. The platform is powerful enough from a scalability, interoperability, developability and governance perspective to help make the vision of Web3 a reality that aims to get more value for an investment. Where to buy YFY Tokens : ( pre-sale round 2 is live ) The fact that makes Yearnify unique is its limited token supply. Talking about limited supply, only 29,000 YFY minted will be distributed to the community through Airdrops and Pre-sale events. Yearnify finance has also made some big announcements such as getting their YFY Token listed on big exchanges like Uniswap, Kucoin and Hotbit , before the end of the year with an initial listing price of 3200$ per YFY Token. Presale link : https://yearnify.com/index.php/pre-sale-yfy-token/ Presale steps: Go to the YFY presale link, connect your Metamask , get your ETH ready, add the amount you want to buy and press buy YFY. If you do not have metamask, simply follow instructions here: https://telegra.ph/YEARNIFY-FINANCE-PRE-SALE-IS-LIVE-10-18 (Tokens unsold would be burned ,Uniswap liquidity will be locked 100% for 1 year) Yearnify Finance Products Yearnify is building a transparent, secured, user-friendly, and simple yield farming platform, that would provide opportunity for the YFY holders to get benefits from several platforms provided by Yearnify Finance. Yearnify Finance staking platform enables investors to earn a yield on YFY token, depositing, and selecting the amount you want to stake, you will get an APR of 29%, and it can be unlocked anytime and you will get FYFY Token reward also. Lending – YFY will provide you with the highest yield in the market today, Upto 29% APR for supported coins (DAI, USDC, USDT, TUSD, BUSD, PAX) STAKING – Stake YFY and Earn 29% APR, YFY can be unlocked anytime without any lock period or other obstacles on your way. Yield Farming – It is simply based on a farmer who plants and harvests all his crops. The more you farm, the more the harvest, the more the invest the more the profit. With YFY you will be able to enjoy Yield Farming to its fullest. Yearnify Exchange – Exchange between your assets without sending anything to anyone or without any fear of loss. Dapps – Yearnify is also developing its own Dapp running on the Ethereum Network, allowing users to use it from any of their favorite wallet (Trust wallet, MEW, Metamask etc.) to search and use their Decentralized Ecosystem. Yearnify Finance Tokenomics : Token Type : ERC-20 Token symbol : YFY Token Name : Yearnify Finance Contract : 0xb9ae6fe574982e891666a5b1c2b33e79eb5dabb5 Total Supply : 29,000 YFY Circulating Supply : 12,000 YFY Initial Uniswap Liquidity : 9,000 YFY YFY for Pre-sale : 8,000 YFY Team Tokens : 500 YFY Marketing & Development : 2,000 YFY Airdrops : 8,000 YFY Conclusion Yearnify finance offers an innovative platform and promotes Defi to an advanced level. It aims to work efficiently with the other existing protocols of Defi to build the new world ecosystem . Yearnify Finance Community : Website : https://yearnify.com Telegram channel – https://t.me/yearnifynews Email : support@yearnify.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post Yearnify Finance (YFY) Hidden Gem – Decentralized Finance Project, Pre-Sale Round 2 Is Now Live appeared first on Bitcoin News. View the full article

The Institute of International Finance (IIF) says global debt will soar to a record $277 trillion by the end of 2020 as governments and companies continue to spend in response to the COVID-19 pandemic. Already, the debt has ballooned by $15 trillion this year to $272 trillion through September. Governments from developed markets account for more than half of that increase, according to the IIF’s Global Debt Monitor. Governments from Developed Markets Are the Biggest Borrowers According to a report, debt repayments will prove to be “much more onerous” despite the “record-low borrowing costs across the globe.” Declining revenues to emerging market governments will be partly to blame. IIF data shows that emerging market debt-to-GDP hit nearly 250% in the third quarter. For China, the debt-to-GDP ratio reached 335% in the just-ended quarter, while the entire 2020 ratio is expected to peak at around 365% of global GDP. On the other hand, developed markets’ overall debt jumped to 432% of GDP in the third quarter, from a ratio of about 380% at the end of 2019. Indications are that this will go up further in Q4. Risks of Deleveraging Meanwhile, the IIF data shows that the US, which has borrowed heavily in the year, will see its debt hitting $80 trillion in 2020 up from $71 trillion in 2019. Similarly, in the Euro area, the “debt rose by $1.5 trillion to $53 trillion through September.” While the current debt-to-GDP ratios are worrisome, the IIF report speculates on the potential ramifications if countries suddenly decide to deleverage. The report says: “There is significant uncertainty about how the global economy can deleverage in the future without significant adverse implications for economic activity.” Still, the disproportionately high debt levels will have a negative impact on the global economy in the long term. Pressed countries might be forced to create money to pay off debts while others will default on their obligations. Recently, Zambia became the sixth developing country to default after the Covid-19 induced revenue drop affected the Southern African nation’s ability to meets its obligation. What are your thoughts on the growing global debt? Tell us what you think in the comments section below. The post Report: Pandemic Response Pushed Global Debt to $272 Trillion in Q3, $5T in Borrowing Expected in Q4 appeared first on Bitcoin News. View the full article

Deutsche Bank’s strategist Jim Reid reportedly wrote that investors are increasingly demanding to use bitcoin instead of gold to hedge dollar risk and inflation. His research concurs with one recently published by JPMorgan’s analysts that shows institutional investors moving from gold to bitcoin. Investors Replacing Gold With Bitcoin In a report discussing the performances of several investments post-vaccine news, Deutsche Bank’s research strategist Jim Reid wrote that “One of the oddities has been the dramatic divergence between gold (-3.6%) and silver (-4.4%) on the one hand and bitcoin (+13.4%) on the other,” according to Zerohedge publication. Reid elaborated: There also seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation and other things. Reid noted that “Bitcoin is up another +3% overnight and seems to be creating momentum of its own. It’s up over 70% over the last six weeks as more and more investors are starting to see it emerge as a credible asset to invest in.” Reid recently wrote in Deutsche Bank’s November Konzept report that “In the long term, central bank digital currencies will replace cash.” Recently, JPMorgan’s analysts also pointed out that institutional investors are moving from gold exchange-traded funds (ETFs) to bitcoin via Grayscale Bitcoin Trust (GBTC). Several hedge fund managers have also said bitcoin could beat gold as a store of value, including famed billionaire investors Stan Druckenmiller. Another hedge fund manager, Bill Miller, said that every major bank will eventually have exposure to bitcoin. Do you agree with Deutsche Bank? Let us know in the comments section below. The post Deutsche Bank: Investors Increasingly Choose Bitcoin Over Gold to Hedge Dollar Risk, Inflation appeared first on Bitcoin News. View the full article

Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers. New Thai Rules and Crypto Exchanges The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported Wednesday. “The revised NC rules are expected to help free up liquidity for securities firms that plan to enter new business such as open digital or cryptocurrency exchanges,” the publication conveyed, adding that some securities companies have consulted with the SEC to launch a cryptocurrency exchange. Securities companies operating crypto businesses will be allowed to calculate the net capital funds with the value of these cryptocurrencies. “The maximum amount calculable for digital assets to a firm’s NC is 50% of the asset value,” the publication noted. The new rules will also count crypto assets as capital funds. For securities companies that operate crypto businesses and stores crypto assets for their customers, the rules require them “to maintain more than 1% of the cold wallet’s capital funds (offline system) and 5% of the client’s assets stored on another system (hot wallet or online system).” For crypto companies that do not provide crypto custody service, “the NC requires shareholders’ equity to be over 500,000 baht [$16,469].” 15 Crypto Firms Approved The Thai Royal Decree on the Digital Asset Businesses B.E. 2561 regulates the cryptocurrency sector in Thailand. It categorizes crypto businesses into three types: “digital asset exchange,” “digital asset broker,” and “digital asset dealer.” There is also a separate category for initial coin offering (ICO) portals. A total of 15 cryptocurrency service providers have been licensed to legally operate in the country, according to the Thai SEC’s website. Some companies have received more than one license. Eight companies are licensed to operate digital asset exchanges: Bitkub, BX, Satang Pro, Huobi, ERX, Zipmex, Upbit, and Z.com Ex. Five companies are licensed to act as digital asset brokers: Coins TH, Bitazza, Kulap, Upbit, and Z.com Ex. Four companies are approved to operate ICO portals: Longroot, T-box, SE Digital, and Bitherb. What do you think about Thailand’s crypto regulation? Let us know in the comments section below. The post Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges appeared first on Bitcoin News. View the full article

The cryptocurrency exchange Coinflex has announced the launch of a unique interest-bearing stablecoin called Flexusd. The new stablecoin is considered to be the first dollar-backed crypto that pays interest at the base level. Moreover, the new token is built on the Ethereum blockchain and the Bitcoin Cash network as well by leveraging the Simple Ledger Protocol. The digital currency trading platform Coinflex has revealed the creation of a new stablecoin token that bears interest. A stablecoin is a cryptocurrency that is tied to the price of a fiat currency and traditionally it’s the U.S. dollar. This allows people to hold crypto assets without exposing themselves to massive price fluctuations found in bitcoin (BTC) or ethereum (ETH) markets. The stablecoin economy has grown massive and today there’s $23 billion worth of fiat-pegged digital assets. Coinflex.com’s CEO Mark Lamb told his Twitter followers about the new stablecoin token on Wednesday. “We’re proud to have launched the first interest bearing stablecoin,” Lamb tweeted. “Flexusd pays yield while you hold the private keys. Currently paying 8% interest, it earns yield from our repo market which powers our deliverable perps. The only sustainable yield is from leverage,” the Coinflex CEO added. The new token’s website description explains that Flexusd is a multi-yield bearing stablecoin that operates in a noncustodial fashion. Traditionally, stablecoins give some of the highest yields on the market but users need to use them as collateral or deposit them on a centralized exchange. “Flexusd and all Flex assets earn interest even when just sitting in a wallet, defi app, exchange or margin account,” the web portal notes. “This enables what we call ‘yield on yield’ i.e. using natively yield-bearing Flex Assets to earn extra yield on top from these various sources in crypto.” Coinflex details that the token will be made available via the Ethereum and Bitcoin Cash blockchain during the initial launch. The exchange is leveraging the Simple Ledger Protocol (SLP) framework for the coins on the BCH side. In the future, Coinflex plans to spread Flexusd across a myriad of chains including networks like Polkadot, Tron, and EOS. The Coinflex issued stablecoin will also be available via a variety of decentralized finance (defi) platforms. The ‘yield on yield’ scheme not only provides benefits for Flexusd stablecoin owners as Coinflex details that the concept works with Flex wrapped assets like Flexbtc, Flexeth, and Flexlink. Accordingly, Coinflex says the exchange will undertake three repo auctions per day, and Flex asset users will get a “pro-rata share of any interest earned by users borrowing assets that underlie the flex assets.” On social media and crypto-related forums, a number of BCH proponents were excited about the interest-bearing stablecoin. “This is huge,” the full node Bitcoin Cash development team Bitcoin Unlimited tweeted. On Reddit, one Bitcoin Cash supporter asked what the difference between Flexusd and tether was and whether or not the new tokens were backed and audited. The Coinflex CEO responded to the question and said: “It’s always fully backed. Flexusd lends the underlying USDC into Coinflex’s repo market.” “There will be audits, in fact, we’re open-sourcing the code of the repo lending bot and also the read-only API keys,” Lamb concluded. “So you will be able to see all balances at all times and verify exactly what’s going on underneath the hood. The difference versus USDT is USDT pays 0% interest and Flexusd pays interest.” What do you think about the stablecoin Flexusd and the concept of earning interest at the base layer? Let us know what you think about this subject in the comments section below. The post Coinflex Launches Noncustodial Interest-Bearing Stablecoin on BCH and ETH Networks appeared first on Bitcoin News. View the full article

Hundreds of millionaires have revealed in a new survey that they have either already invested in bitcoin or are planning to invest in the cryptocurrency in the next couple of years. Millionaires Don’t Want to Miss Out on Bitcoin A new global poll by Devere Group shows that 73% of millionaires will invest in cryptocurrencies, such as bitcoin, ethereum and XRP, before the end of 2022 or are already investing in them. The findings came as the price of bitcoin rallied past $18,000. Devere Group is a large independent financial advisory firm. The group asked more than 700 of its high net worth clients — those having more than $1 million in investable assets — who currently reside in the U.S., the U.K., Asia, Africa, the Middle East, East Asia, Australasia, and Latin America. “The price of bitcoin is up 125% year-to-date, making it once again one of the best-performing assets of the year,” commented Devere Group founder and CEO Nigel Green, elaborating: As the survey shows, this impressive performance is drawing the attention of wealthy investors who increasingly understand that digital currencies are the future of money and they don’t want to be left in the past. The group conducted the same survey last year and found that 68% of millionaires were either going to invest in cryptocurrencies in the next couple of years or already invested. Green explained that he has no doubt the high net worth clients polled “have seen that a major driver of the price surge is the growing interest being expressed by institutional investors,” including some of the largest Wall Street banks, “who are capitalizing on the high returns that the digital asset class is currently offering.” The Devere CEO further added that Paypal is now offering a cryptocurrency service, allowing customers to buy, sell, and hold bitcoin. Recently, several famed hedge fund managers, including Bill Miller, Stan Druckenmiller, and Paul Tudor Jones, said bitcoin has the potential to outperform gold. In addition, Green emphasized that investors are attracted to bitcoin as a “legitimate hedge against longer-term inflation concerns” due to stimulus packages promised by major governments and central banks worldwide. He detailed: These emergency measures, like the massive money-printing agenda, reduce the value of traditional currencies like the dollar. Green continued by outlining a number of attractive characteristics of cryptocurrencies. Firstly, he said, “they’re borderless, making them perfectly suited to an ever globalized world of commerce, trade, and people.” Secondly, “they are digital, making them perfectly suited for the increasing digitalization of our world.” He additionally noted that “younger people are more likely to embrace them than older generations.” The Devere CEO concluded: High net worth individuals are not prepared to miss out on the future of money and are rebalancing their portfolios towards these digital assets. Do you think all millionaires will own bitcoin? Let us know in the comments section below. The post Millionaires FOMO: 73% Will Own Bitcoin by 2022, Survey appeared first on Bitcoin News. View the full article

Netherlands-based crypto exchanges are now required by law to get additional information from clients regarding their bitcoin addresses. As part of the new requirements, which went into effect on Nov. 17, clients must now furnish exchanges with reasons why they wish to buy bitcoin. They will also need to inform the exchange officials of the kind of wallet they use. Additional Requirements The new Dutch regulatory changes have gone into effect despite protestations by some of the country’s crypto exchanges. The Dutch Central Bank (DNB), which is enforcing the new regulations, wants crypto service providers to adhere to the provisions of the country’s Sanction Act 1977 just like other “supervised institutions.” Meanwhile, Bitonic, the Netherland-based crypto exchange that opposes the new requirements, wants clients to support their stance. To do this, the exchange is asking clients “to formally object to these additional measures and the registration of this data.” The Bitonic team says they will soon “release a custom form intended specifically for this purpose.” Still, in a statement made via the exchange’s blog, the Bitonic team says it will reluctantly comply with the ineffective measure. The statement adds: We have repeatedly pleaded (with the) DNB to drop this requirement as we find this measure to be ineffective and disproportionate. Unfortunately, this has had no effect. The Netherlands is currently the only country in the European Union where this far-reaching measure is demanded. Furthermore, the statement informs clients of an additional requirement obliging the exchange to verify if the “legitimate owner of the given bitcoin address” is actually in control of it. To perform this verification procedure, clients will be requested to “upload a screenshot from your wallet, or by signing a message.” Dutch Law According to the Netherlands’ Sanctions Act 1977, a crypto service provider “must check whether their clients and any ultimate beneficiary owners (UBOs) are on a Dutch or European sanctions list and report any hits to DNB.” Under Dutch and EU sanction rules, no funds may be made available to individuals or entities that are on a sanctions list. Organizations that fail to comply with the new provisions will be punished under the Economic Offences Act. What do you think of the new DNB requirements? Tell us what you think in the comments section below. The post New Dutch Law: Clients Must Explain Why They Want To Buy Bitcoin appeared first on Bitcoin News. View the full article

Bitcoiners on social media have panned remarks by acting U.S. currency comptroller Brian Brooks that bitcoin is owned by China due to the country’s disproportionate share of the crypto’s mining power. The bitcoiners argue that the disproportionate number of miners stationed in China only means the corresponding block rewards will reflect this imbalance. They add that no country owns bitcoin. Controlling Internet 2.0 According to Brooks, who has been tapped as the substantive director of the Office of the Comptroller of Currency (OCC), bitcoin miners in China possess more than 50% of the mining capacity. In comments made during a video interview, the pro-crypto Brooks suggests the U.S. is losing the internet 2.0 leadership race to the Asian country. In a short video shared by a Twitter user on November 17, the currency comptroller asks: As a country, we now face a geostrategic competitiveness issue, which is: Do we in the United States want to own the internet 2.0 in the same way we owned internet 1.0. However, just like many others, Twitter user ‘Clashicly’ pushes back against Brooks’ assertion. He says “the only risk is CCP firewalls (that) cause a non-contentious fork and a reorg of a minor fork which forces confirmed [transactions] back in mempool.” The user adds that “this has the greatest risk to exchanges if CCP pools are many times those outside the firewall and exchanges allow deposits after 6 confirms, which could be thrown back in the mempool and double-spent.” Other users think Brooks is attempting to draw the U.S. government’s attention to the importance of controlling bitcoin’s hashrate. Still, others like Twitter user rabbit, appear to support Brooks’ comment by reminding other users that “currently >65% of the hash power is located in China.” The user adds: Supposedly, BTC was created to be decentralized, but mining rewards create an economy of scale in which the first miner will grow his market share into (a) monopoly (>51%) Impact of a Chinese crackdown on Exchanges Interestingly, reports coming from China suggest the country is clamping down on cryptocurrency exchanges and mining-related businesses. According to one report, as a consequence of this crackdown, “Chinese miners are facing a major problem in paying electricity bills.” The report adds that “74% of miners surveyed said the payment of electricity bills has been greatly affected.” Many believe this crackdown will accelerate the migration of miners from China to countries like Kazakhstan and the U.S., therefore undercutting Brooks’ assertions. Do you agree with Brian Brooks’ remarks that China owns bitcoin? Tell us what you think in the comments section below. The post OCC’s Brian Brooks Says China Owns Bitcoin but Crypto World Disagrees: Chinese Crackdown Pushes Miners Away appeared first on Bitcoin News. View the full article

PRESS RELEASE. Quppy services can now be referred for an attractive direct cashback. The Quppy digital financial solution is launching its first referral program. Quppy current and new users are now provided with their unique referral links to share among their communities. The Quppy referral program works on a volume basis. Both the referrer and the referee are awarded with 15 euros right after the referee transaction volume reaches 600 euro. Every Quppy user has an unlimited number of referral initiatives. “We have developed a perfect two-sided refer-to-a-friend mechanism that our customers were waiting for. As we are working on providing a unique personal banking experience, we want to encourage our users not only to profit from this experience but to share it with others.” – states Dmitry Nikiforov, the Quppy CEO and co-founder. The user referral link will automatically appear in the Quppy app Settings section of every customer. The full terms and conditions of this program are available on the Quppy official website www.quppy.com. Quppy is a European fintech startup with over three years of impeccable financial expertise. The Quppy all-in-one contactless digital payment solution offers all kinds of financial services with traditional and digital funds. You can open a multicurrency IBAN account in Euro and British pounds in no more than 15 minutes using your mobile device only. Quppy supports instant SEPA operations. Quppy is currently working on prepaid cards launch, gift cards purchase solution, and recurrent bills payment. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post Quppy Users Are Offered a Referral Program appeared first on Bitcoin News. View the full article

Crypto security firm Fireblocks said Wednesday that it has raised $30 million in a Series B funding round. The money will be used to hire new talent as well as to expand its global operations to meet “institutional and retail market demand for digital assets.” The round was led by Paradigm, with participation from Fireblocks’ existing investors – Galaxy Digital, Digital Currency Group, Cyberstarts, Tenaya Capital, Swisscom, and Cedar Hill Capital, according to a company statement. “With the new injection of capital, we will be able to continue to grow our in-house R&D, marketing and sales talent to continue pushing the envelope on product innovation, and customer growth in key geographic regions,” said Michael Shaulov, CEO of Fireblocks. Fireblocks is an enterprise-grade platform that helps institutional investors such as hedge funds, exchanges, and over-the-counter trading desks, to move, store or issue digital assets securely. Since its launch in June 2019, Fireblocks has secured a total of over $150 billion in digital assets for institutional clients throughout the world. In the third quarter of 2020, Fireblocks reported a 533% spike in customer growth, according to Shaulov. He added that the company is seeing similar growth in the current Q4 quarter. Fireblocks said it has more than 160 active institutional participants on its network, including some of the biggest liquidity providers, such as B2C2, Galaxy, Amber, and Three Arrows. The Series B round brings Fireblocks’ total funding to date to $46 million. The firm raised $16 million in Series A in June last year. What do you think about Fireblocks’ latest funding round? Let us know in the comments section below. The post Crypto Security Firm Fireblocks Raises $30 Million in Series B Funding, Targets Global Expansion appeared first on Bitcoin News. View the full article

Mexico’s second-richest person Ricardo Salinas Pliego confirms that 10% of his liquid portfolio is invested in bitcoin. The billionaire says the top crypto protects the wealth of private citizens from getting expropriated. Pliego advises his followers that might want to follow his in footsteps to study and understand bitcoin. He also recommends one book, “The Bitcoin Standard,” as one ideal learning tool for learners. A Case For Bitcoin in a Portfolio With an estimated net worth of $11.9 billion, Pliego joins the growing list of millionaires, billionaires, and corporations that are now adding bitcoin to their investment portfolios. Meanwhile, in one of his tweets, the billionaire gives his perspective on what bitcoin can bring to an investment portfolio. He says: To start with bitcoin, I share a video taken in a Latin country where banks throw away money (when the banknotes become worthless). He says that is why it is always good to diversify our investment portfolio. This is inflationary expropriation. Pliego has not divulged the name of the Latin country whose worthless currency is shown in the video. However, many are certain that he is referring to hyperinflation hit Venezuela. The South American country’s currency, the bolivar is one of the worst-performing currencies this year. Already, some citizens of Venezuela now use bitcoin to shield their investments and savings from inflation. Mixed Reaction to Pliego’s Tweets Meanwhile, the reaction to Pliego’s remarks about bitcoin seems to be mixed with mainly bitcoiners applauding the tweets. Non-bitcoiners are skeptical of digital currencies, in general, while others are surprised by Pliego’s bitcoin applause. One of those responding positively to Pliego’s tweet is user Bryan GF. In his reply to Pliego he asks: Uncle Ricardo, in addition to Bitcoin, would you recommend any other crypto for example Ethereum? Another user Carlos Dayan says “the important thing is to study how it works, understand the market cycles, why it rises or falls, so as not to be afraid of the price correction and take advantage of price discounts when it falls.” However, users like Carlos Salinas have attacked Pliego for making the “irresponsible comment.” According to this Twitter user, “investing in cryptocurrencies carries a high risk due to volatility, you just have to invest the money that you are willing to lose without affecting personal finances.” What are your thoughts about the Mexican billionaire’s bitcoin comments? Tell us what you think in the comments section below. The post Mexican Billionaire Ricardo Pliego Invests 10% of Liquid Portfolio in Bitcoin- Says the Crypto Shields Against Wealth Expropriation appeared first on Bitcoin News. View the full article

Federal Reserve Chair Jerome Powell told participants at the Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday that the economy will never be the same after Covid-19. According to Powell, the use of accelerated technology will change the way the global economy operates as his commentary was quite similar to the recent “Great Reset” agenda. This week the Federal Reserve Chair, Jerome Powell spoke about the economy and how he thinks things will be quite different going forward. Powell spoke at the annual Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday and said his team is seeing increased Covid-19 restrictions. “We’re seeing states begin to impose some activity restrictions,” Powell said during the online discussion with the Bay Area Council. “The concern is that people will lose confidence in efforts to control the pandemic, and … we’re seeing signs of that already.” Fed Chair Jerome Powell discussed Covid-19 and how he doesn’t think society will revert back to the same economy. Instead, Powell said at the Bay Area Council virtual meeting that he expects a “different economy.” Powell’s recent statements follow his speech last summer at the annual Jackson Hole economic symposium. The Fed Chair noted at the time that the central bank will let inflation run hotter than usual and Powell mentioned it may be “moderately above 2%.” In San Francisco at the Bay Area Council virtual meeting, Powell said the way the economy was in the past will never re-materialize. “We’re not going back to the same economy, we’re going back to a different economy,” Powell stressed during the meeting. “That’s going to mean that those people who worked in the service industry, they may need help and support for a time as they find work in new places.” The Federal Reserve Chair told members of the European Central Bank’s Forum on Central Banking the same thing a week prior. His statements also follow the recently published financial stability report that addressed climate change for the first time. The Fed’s recent statements alongside Powell’s speeches, indicate a push toward the controversial “Great Reset” agenda and the IMF’s call for a “new Bretton Woods moment.” Fed Chair Jerome Powell’s and Canadian Prime Minister Justin Trudeau’s commentary struck a nerve on Twitter this week and sparked another trend of Great Reset discussions. On Monday morning, the Great Reset theory was trending hard again and a number of financial news outlets called the theory “baseless.” The hashtag #GreatReset spiked to over 80,000 tweets on Monday morning and has continued to trend on Twitter. The conversation was extremely topical after Canadian Prime Minister Justin Trudeau discussed Covid-19 and the Great Reset. Trudeau also leveraged a ‘build back better’ slogan used by the Joe Biden campaign. The Heartland Institute, an economic think tank initiated in 1984, recently discussed how the U.S. President-elect Joe Biden has “disturbing ties” to the Great Reset movement. “This is one of the greatest threats to capitalism and individual liberties and our next possible President may be involved,” Heartland’s Justin Haskins and Donald Kendal explain in a recent podcast about the agenda. On Tuesday evening the American conservative political commentator, Tucker Carlson also published a report that says: “The elites want Covid-19 lockdowns to usher in a ‘Great Reset’ and that should terrify you.” When the Fed Chair Jerome Powell discussed how the economy will never be the same on Tuesday, he also said more stimulus will be needed. In order to keep the economy safe from looming disaster, he mentioned that stimulus will need to find its way to small businesses and the many unemployed Americans. “There hasn’t been a bigger need for it in a long, long time here,” Powell concluded. What do you think about the Fed Chair Jerome Powell saying we’re going back to a different economy? Let us know what you think about this subject in the comments section below. The post ‘Control the Pandemic’ – Fed Chair Jerome Powell Predicts the Entry of a ‘Different Economy’ appeared first on Bitcoin News. View the full article

Billionaire hedge fund manager Ray Dalio has admitted that he may be wrong about bitcoin after stating that governments will ban the cryptocurrency if it “becomes material.” Dalio founded Bridgewater Associates; his hedge fund is the largest in the world. Ray Dalio Open to Learning About Bitcoin Bridgewater Associates founder Ray Dalio has admitted that he may be wrong about bitcoin after stating last week that he did not think that cryptocurrencies “will succeed in the way people hope they would.” He further said that governments will outlaw bitcoin if it becomes material. Dalio is an American billionaire hedge fund manager who founded Bridgewater Associates and has served as its co-chief investment officer since 1985. His hedge fund is the largest in the world, with about $140 billion in assets under management. Dalio has been called the “Steve Jobs of Investing” by AICIO Magazine and Wired Magazine. He was also named one of the 100 Most Influential People by TIME Magazine. As the price of bitcoin soared, surging about 55% over the past 30 days, Dalio tweeted on Tuesday: I might be missing something about bitcoin so I’d love to be corrected. “My problems with bitcoin being an effective currency are simple,” he began to highlight his concerns in a series of tweets. Firstly, he claimed: “Bitcoin is not very good as a medium of exchange because you can[not] buy much with it (I presume that’s because it’s too volatile for most merchants to use, but correct me if I’m wrong).” Secondly, he asserted: “it’s not very good as a store-hold of wealth because it’s volatility is great and has little correlation with the prices of what I need to buy so owning it doesn’t protect my buying power.” Next, he reiterated the risk of governments banning bitcoin that he outlined in an interview with Yahoo Finance last week. Dalio said that if bitcoin “becomes material, governments won’t allow it.” He emphasized: “they’ll outlaw it and they’ll use whatever teeth they have to enforce that. They would say … you can’t transact the bitcoin, you can’t have a bitcoin.” The billionaire fund manager similarly tweeted Tuesday: If it becomes successful enough to compete and be threatening enough to currencies that governments control, the governments will outlaw it and make it too dangerous to use. The Bridgewater Associates founder further argued that “unlike gold which is the third-highest reserve assets that central banks own, I can’t imagine central banks, big institutional investors, businesses or multinational companies using it.” Dalio ended his series of tweets with “If I’m wrong about these things I would love to be corrected. Thank you.” Bitcoiners Addressing Ray Dalio’s Concerns Many bitcoiners replied to Dalio’s bitcoin tweets. While the comments varied, some people attempted to address Dalio’s three concerns in detail. One of them was Blockfi CEO Zac Prince, who addressed each point Dalio made against bitcoin being an effective currency. Founder of Mythos Capital Ryan Sean Adams chimed in, explaining that “Bitcoin-like assets aren’t meant to be a MoE, but a SoV to back digital stablecoins, similar to how gold once backed fiat.” Addressing Dalio’s government ban concern, he simply stated that “Game theory forces central banks to hold it; MMT will forces CBs into the digital realm.” Capriole Investments founder Charles Edwards noted: “All new asset classes start from 0. Starting from 0 means there will be volatility to get to a big number. But if you zoom out, put Bitcoin on a log chart, it is almost as close to a straight line up as you can get. Mediums of exchange take time to become accepted among the population. Fact: you can use bitcoin debit cards to buy goods anywhere globally.” Many replies simply point Dalio to their own work explaining about bitcoin or other popular resources. The official Twitter account of Fidelity Digital Assets wrote: “Mr. Dalio — many of your concerns around bitcoin are what we discuss with institutional investors every day at Fidelity Digital Assets.” Some people see Dalio’s comments as a sign that he personally or his hedge fund will soon buy bitcoin. Abra CEO Bill Barhydt tweeted: “Anyone want to take a bet that Ray Dalio does a 180 on bitcoin in the next 6 months or sooner?” Lark Davis, aka The Crypto Lark, wrote: I’m calling it now, Ray Dalio and Bridgewater will be buying bitcoin within the next few months. What do you think about Ray Dalio’s view on bitcoin? Let us know in the comments section below. The post Ray Dalio Admits He May Be Wrong About Bitcoin But Still Concerned of Government Ban appeared first on Bitcoin News. View the full article

Bitcoiner Cynthia Lummis has been elected to the U.S. Senate. She has revealed that one of her priorities is to explain to her colleagues in Congress about bitcoin being “a great store of value.” Cynthia Lummis Plans to Convince Congress That Bitcoin Is a Great Store of Value Cynthia Lummis has been elected to represent the state of Wyoming in the U.S. Senate, making history as the first woman to do so. She previously served in the U.S. House of Representatives for eight years as a Wyoming conservative Republican. In an interview with Fox News on Tuesday, Lummis was asked: “What do you plan on doing? What are your top priorities?” She explained that she plans “to work on several issues, including matters to try to reduce our [national] debt and our deficit.” The Senator-elect elaborated: I also plan to explain to my colleagues about bitcoin. I know there isn’t much known about bitcoin especially in Congress. So I want to make sure everybody understands that this is a great store of value. “It’s something that Americans can use to diversify their assets and to make sure that they have assets that don’t have inflation built into them the way the U.S. dollar does,” Lummis opined. Lummis purchased her first BTC in 2013 and she is now a hodler. “I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply,” she previously said. “Bitcoin to me has shown great promise and may rise as a viable alternative store of value to the U.S. dollar both on the institutional level and the personal level.” Recently, there was an initiative to educate members of Congress on cryptocurrency. The “Crypto for Congress” initiative, launched in October by the Chamber of Digital Commerce, provided a $50 bitcoin contribution to all 535 members of Congress. The aim was to expand “the use and adoption of cryptocurrencies among Congressional candidates, elected leaders, and engaged citizens,” the chamber detailed. Do you think Cynthia Lummis will succeed in educating Congress about bitcoin? Let us know in the comments section below. The post US Senator Cynthia Lummis to Ensure Congress Understands Bitcoin Is a ‘Great Store of Value’ appeared first on Bitcoin News. View the full article

Grayscale Investments has surpassed $10 billion in cryptocurrency assets under management. About $8.85 billion are held in the Grayscale Bitcoin Trust, which now holds more than 500,000 bitcoins. Over $10 Billion Under Management Grayscale Investments announced Tuesday that it has surpassed a major milestone in cryptocurrency assets under management (AUM), which the total now stands at $10.4 billion. The company offers 10 cryptocurrency products, all of which are single-asset trusts except the Digital Large Cap Fund. Most of the funds are held in the Grayscale Bitcoin Trust (GBTC), which currently has $8.85 billion in assets under management, followed by the Ethereum Trust with $1.22 billion, and the Digital Large Cap Fund with $146.7 million. In addition, the company announced Monday that the Grayscale Bitcoin Trust now holds more than 500,000 BTC. Grayscale’s crypto products and their net assets under management on Nov. 17. Source: Grayscale Investments In the third quarter, Grayscale had record-breaking capital inflows totaling $1.05 billion, about 81% of which came from institutional investors, primarily hedge funds. The company further revealed that its Bitcoin Cash, Litecoin, and Digital Large Cap products all saw over 10x growth in inflows compared to the previous quarter. What do you think about Grayscale’s growth? Let us know in the comments section below. The post Grayscale Surpasses $10 Billion in Crypto Under Management With Over 500,000 BTC in Bitcoin Trust appeared first on Bitcoin News. View the full article

PRESS RELEASE. Curate decentralized platform has set the goal of maximizing the DeFi potential. The main task is to create a complete platform autonomy with a gradual transition to self-management by community members. Curate is an autonomous full-cycle ecosystem. Platform members use ETH-Xcur LP tokens to mine Curate (Xcur) tokens. Curate.finance helps all the investors earn 1613% APY of what they are investing without working. All that you have to do is provide liquidity for Xcur, deposit your tokens on the site and watch as your profits start rising. Curate Leveraging Blockchain Technology Curate is a platform based on blockchain technology and ERC-20 token smart contracts, which rewards users with digital tokens such as BTC, ETH, and its native utility token XCUR, in return for curating fashion styles. Essentially, it is a style discovery decentralized app (DApp). It provides a trustless platform to its users to provide their feedback on a curated collection of fashion styles that the community can trust. The crypto-asset based fashion platform offers users a unique collection of brands and designer wear that they can purchase, provide their feedback or upvote. In fact, it rewards the users with digital tokens for engaging and contributing to the platform. With the help of blockchain technology and Artificial Intelligence, the platform eliminates fake reviews or defaming comments and allows only trustworthy reviews through the verification of user ID. Is it safe? There are multiple websites out there doing scams in the name of profits. To assure all of its investors, Curate has published the complete transparency on its website. They have not only made their smart contract public, but they also have their registration of being a real firm on their website. The certificate can be cross checked on the registrars website as well to be sure whether they are legit. Anyone can do their own research on their platform before investing. The more you invest, the more you will earn as profit. How to stake :⛏ Step 1: Buy Xcur on Uniswap Step 2 : Go to curate.finance from your browser and login with metamask or trust wallet Step 3: click on “Get Lp tokens on Uniswap” Step 4:deposit equal eth to Xcur on uniswap , and submit , uniswap will issue LP tokens once complete. Step 5:Take these tokens back to curate.finance, click approve then once that’s completed , click max then stake and stake on platform to earn Xcur! Step 6: Enjoy industry high APY of 1613%. That’s 16x Rewards in a year! Staking rewards can be claimed at anytime via the Claim rewards button MINIMUM stake period is 24hrs and MAXIMUM is 365 days APY YIELD during bonus period : 1613% Token name: CURATE token (XCUR) Token ticker: XCUR Token Type: Utility token Tech: ERC20 Total supply: 10,000,000 Contract: 0xE1c7E30C42C24582888C758984f6e382096786bd Listing locations : Xcur is listed on Uniswap P2Pb2b : December 2020 Binance : Application made KuCoin : Application made We will endeavor to list on as many major exchanges as possible to provide our user with ample options between CEX and DEX Telegram : https://t.me/curate Website : https://curate.style/ Staking : https://curate.finance/ BUY Curate (Xcur) : https://app.uniswap.org/#/swap?outputCurrency=0xE1c7E30C42C24582888C758984f6e382096786bd This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post Curate, Next Generation Yield Farming appeared first on Bitcoin News. View the full article

The OUSD stablecoin issuer, Origin Protocol is the latest Defi protocol to fall victim to a flash loan attack. The attack, which occurred in the early hours of Tuesday, on November 17, resulted in the disappearance of tokens worth millions of dollars. Confirming the attack, one of the project’s leaders say they are now working with exchanges in order to identify the attacker, as well as to freeze the tokens before they are liquidated. Funds Located The Origin Protocol attack follows a similar incident at Value Defi on November 14 where the criminals stole $6 million worth of tokens. Explaining the attack in a blog post, Origin Protocol Co-founder Matthew Liu insists the stolen funds have been traced to a wallet, which the team is monitoring. He also reveals that the attacker “used both Tornado Cash and Renbtc to wash and move funds.” According to Liu, there is “still 7,137 ETH and 2.249M DAI sitting in one of the attacker’s wallets.” Although the Origin Protocol team says it has made progress understanding the attack and tracking the flow of funds, it still warns: We are continuing to work to try and recover the funds. If you are still providing liquidity on Sushiswap, we advise that you should remove your funds as soon as possible. We also strongly advise that you do not attempt to buy or sell OUSD at this time. Following the attack, the value of the OUSD stablecoin plunged and traded at $0.15 per token on November 17. Before the price collapse, the stablecoin had consistently been trading at par with the USD. Reentrancy Bug Meanwhile, Liu goes on to give details of how the attackers were able to pull this off, even as the Origin Protocol team thought the contract was safe. According to Liu, the “attack was a reentrancy bug in our contract.” He admits that their contract is only safe from such bugs “unless one of our supported stablecoins was attacking us.” After executing the attack, the criminals then “withdrew most of the stablecoins from OUSD.” Liu’s statement adds: They were then able to take extra OUSD after withdrawing and sell it on Uniswap and Sushiswap for USDT in subsequent transactions. The Origin Protocol team says it will conduct a “thorough transaction by transaction analysis will be forthcoming.” The team is also pleading with the attacker(s) to return the stolen funds after demonstrating their “superior skills as hackers.” What are your thoughts on this latest flash loan attack? Share your views in the comments section below. The post Origin Defi Protocol Suffers Massive Flash Loan Attack- OUSD Stablecoin Value Plunges 85% appeared first on Bitcoin News. View the full article

PRESS RELEASE. After Indodax, Alpahex.net and Bitrue, XinFin Digital Contract ($XDC) tokens—the fuel of XinFin’s enterprise-ready, hybrid blockchain ecosystem—will be available on Bitfinex—a pioneering Tier-1 exchange—from 11 a.m. (UST) on November 16, 2020. On November 16th, XinFin’s native utility token—XinFin Digital Contract or XDC—will join other leading cryptos listed on Bitfinex, a state-of-the-art digital token trading platform, based in the British Virgin Islands. In the initial phase, the exchange will list two trading pairs—XDC-USD (fiat) and XDC-USDT (Tether token, a USD-pegged stablecoin)—enabling its users to buy, sell, convert, send, receive, and store XDC. Considering that Bitfinex has an extensive, multi-lingual community of Russian, Chinese, and English speakers, the collaboration will substantially widen the exposure and adoption of XinFin’s utilities. As an enterprise-ready hybrid ecosystem that combines the best of private and public blockchains, the XinFin mainnet comprises solutions that are disrupting a wide range of sectors, from education to trade and beyond. The XDC token functions as the fuel of this multidimensional network, enabling its holder’s access to diverse, real-world use cases, such as TradeFinex, MyContract, and BlockDegree. TradeFinex is an ADGM Reg Lab entity and a XinFin-based, decentralized marketplace for buyers, sellers, brokers, and financiers. The platform offers a fully-structured framework and common distribution standard for SMBs and other trade finance originators to connect with an ever-increasing community of alternative asset investors, including both banks and non-banks funding. Backed by XDC liquidity, the TradeFinex network facilitates invoicing, guarantees, line of credit, and bill of lading, among other solutions. MyContract is a XinFin-powered middleware that functions as a stable, secure, decentralized, and blockchain-agnostic bridge between centralized entities. To achieve its function, the solution leverages web3 APIs and other open-source SDKs. BlockDegree is a decentralized edTech solution accredited by the Education Blockchain Action Network, US, and SkillsFuture, Singapore. Its primary mission is to build robust talent pipelines by empowering learners with P2P technology and enabling them to acquire new skills online. Furthermore, it offers a digital certificate that is payable using XDC and is stored immutably on the XinFin blockchain. As a whole, the XDC network represents a developer-friendly toolkit, including solutions such as One-Click Installer, XinPay, and Remix. Coupled with secured XinFin wallets, these solutions enable developers to quickly deploy DApps and Smart Contracts on the XDC blockchain while incentivizing innovations through diverse Bounty Programs. Broadening the horizons for the XinFin community, Bitfinex supports individual and corporate registration for fiat, apart from the standard, KYC/AML-compliant crypto deposits and withdrawals. Lastly, to buy, sell, and convert XDC, Bitfinex will offer the option for using Credit Cards. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post Bitfinex, a Pioneering Tier-1 Exchange, Lists XinFin Network’s Native XDC Token appeared first on Bitcoin News. View the full article

On December 2, 2020, the organization and full node project Bitcoin Unlimited is hosting a week-long hackathon that aims to build the future of finance by leveraging the decentralized crypto network Bitcoin Cash. The event dubbed “Coinparty 2020” aims to get the top crypto talent in the world to compete for $17k worth of bitcoin cash prizes. The cryptocurrency community has grown massively in 2020, and there’s been a number of new and exciting innovations this year. Bitcoin Unlimited (BU) wants to bring a number of useful innovations to the Bitcoin Cash (BCH) network and the organization is hosting a hackathon to bolster this goal. The event is called “Coinparty 2020” and it’s not only supported by BU, but also the team of peer-to-peer electronic cash proponents Satoshi’s Angels and the firm General Protocols as well. “Join our hackathon to collaborate and compete with top crypto talent from around the world,” the event’s web portal details. “We welcome talented people from all different skill-sets including: developers, marketers, designers, and business people. CoinParty is for anyone who wants to build amazing blockchain tools and products using cryptocurrency,” the website adds. The $17k worth of bitcoin cash (BCH) prizes will be split into different focus groups like the Coinparty all-stars, user focus, and the Nakamoto award. Six judges have been announced including BU’s lead developer Andrew Stone, BU engineer Andrea Suisani, Bitcoin Verde’s Josh Green, Coinbase staff engineer Josh Ellithorpe, BCHN developer Calin Caliau, and General Protocol’s lead developer Jonathan Silverblood. Participants will be advised by qualified experts such as Satoshi’s Angels senior marketing manager Eléonore Blanc, Knuth lead developer Fernando Pelliccioni, BU developer Dagur Valberg, Simpleledger.cash CEO James Cramer, and General Protocols senior developer Rosco Kalis. The Coinparty 2020 event will also be hosted by John Moriarty and Paul Wasensteiner. The Coinparty kickoff starts on December 2, with the team foundings, ideation, and the Coinparty Opening Ceremony. Throughout December 4th through the 7th, there will be live stream interviews with some of the teams, as onlookers will get live progress updates. Final presentations on each project will be due December 8th, as Coinparty judges will follow through with deliberations and an official prize ceremony on the 9th. Individuals who are interested in participating in the Coinparty 2020 event this year can register with this web document. People can also leave their email address in order to get updates about the upcoming Coinparty hackathon as well. What do you think about Bitcoin Unlimited’s Coinparty 2020 event? Let us know what you think about this subject in the comments section below. The post Bitcoin Unlimited Hosts Week-Long Hackathon to Bolster the Future of Finance appeared first on Bitcoin News. View the full article

Galaxy Digital, the crypto investment management firm founded by bitcoin bull Mike Novogratz, has revealed plans to launch a bitcoin fund in Canada. In a statement published Nov. 16, Galaxy Digital said it has partnered with major Canadian fund manager CI Global Asset Management for the launch. The fund is called the “CI Galaxy Bitcoin Fund” and it will be open to the general public. Galaxy Digital, which primarily focuses on corporate investors, has since received approval from securities regulators for its preliminary prospectus for an initial public offering (IPO), it added. Per the announcement, the fund is “a closed-end investment fund” that will invest directly in bitcoin (BTC) and will be priced using the Bloomberg Galaxy Bitcoin Index. The index is designed to measure the performance of a single bitcoin traded in U.S. dollars. The IPO will consist of Class A and Class F units at a price of $10 each. In turn, Galaxy Digital will allocate the buyer the equivalent in bitcoin from its own holdings. It said the units “are being offered on a best-efforts basis in each of the provinces and territories of Canada.” Galaxy Digital will be the sub-advisor for the CI Galaxy Bitcoin Fund, responsible for executing all bitcoin trading activities. CI Global will act as the fund’s manager. As news.Bitcoin.com reported a few days ago, Galaxy Digital acquired two crypto companies – Drawbridge Lending and Blue Fire Capital – in anticipation of a “bigger wave of institutional demand” for bitcoin. In the third quarter of 2020, the firm reported a 75% increase in traded volumes, year-on-year, to $1.4 billion. Assets under management reached $407 million, inclusive of $82 million in passive BTC and index funds. Q3 net profit came in at $44.3 million compared to a loss of $68.2 million a year ago, thanks largely to a sharp rally in the price of BTC. What do you think about Galaxy Digital’s planned bitcoin fund in Canada? Let us know in the comments section below. The post Mike Novogratz’s Galaxy Digital to Launch Bitcoin Fund in Canada appeared first on Bitcoin News. View the full article