Central Banker in Europe’s False Arguments Against Bitcoin

Twitter Facebook LinkedIn Benoît Cœuré, a member of the Executive Board of the European Central Bank, condemned Bitcoin (BTC), describing it a bubble, ponzi scheme, and an environmental disaster. “Lightning may strike me for saying this in the Tower of Basel — but bitcoin was an extremely clever idea. Sadly, not every clever idea is a good idea. I believe that Agustín Carstens summed its manifold problems up well when he said that bitcoin is ‘a combination of a bubble, a Ponzi scheme and an environmental disaster,’” Cœuré said, at…

Downtrend in Crypto Market Continues as BCH Falls

Twitter Facebook LinkedIn Over the last 24 hours, the valuation of the crypto market has fallen from $185 billion to $181 billion, by around $4 billion. On November 15, amidst one of the worst single-day corrections in all of 2018, the crypto market saw a wipeout of more than $27 billion. The market extended losses throughout the past two days. Bitcoin Cash, even with the combined value of Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC), has fallen by more than seven percent. Subsequent to the fork, the price…

IDEX List RedCab Token | Step Forward for Ride Sharing Company

IDEX, the only Ethereum-based, fully decentralized crypto exchange with real-time trading and high transaction throughput has announced the listing of RedCab LLC’s REDC token. RedCab, a decentralized peer-to-peer transportation solution entirely powered by blockchain technology, announced the listing this week with the Panama-based exchange. IDEX is recognized as the most advanced Ethereum DEX in the industry, supporting limit and market orders, gas-free cancels and also the ability to fill many trades at once. Consisting of a smart contract, trading engine and a transaction processing arbiter, the smart contract is charged…

Bitcoin and Blockchain | Banks Must Embrace or “Bite the Dust”

With all the constant news about the price of Bitcoin, it’s possible to forget what it was invented for. Cryptocurrency trading plays only a small role in what Bitcoin and blockchain technology can do for our world. Most importantly, they can end the hegemony central banks have on the way we make payments to each other. Today, there are supposedly thousands of cryptocurrencies available. Many of which seeks to fix the issues central banks have created. However, they don’t all have the same goals. While some may wish to obliterate…

Price Holding Losses, Eyes Recovery as Dollar Slides

Twitter Facebook LinkedIn The bitcoin price on Friday plunged 0.85 percent against the US dollar, now trading at 5528-fiat. Bitcoin Price Seeks to Claw Back Lost Ground The digital currency has had a shocking week so far, with its value losing almost $1,200 within just five days. Not only bitcoin, but the entire cryptocurrency market also had to “bear” losses worth billions of dollars as a civil crypto war brewed inside the Bitcoin Cash community. It has already led to the split of Bitcoin Cash blockchain. Now, the market expects a…

Lack of Decentralization Exposed with Reversed Transaction

Blockchain protocol EOS, run by Block.one, has just become the subject of a new crypto scandal. It all began on November 9th, when a picture emerged on Reddit of a moderator on EOS reversing a transaction that had already been confirmed. Decentralized? According to the Reddit user u/auti9003, a reverse transaction occurred without the owner’s permission. The arbitrator, Ben Gates, referred to the blockchain project’s constitution as a basis for his decision. Gates wrote: “Under the powers afforded to me as arbitrator under article 6 of the Rules of Dispute Resolution, I,…

Crypto Market Recovers, But is a Fall to $4,800 Possible For Bitcoin?

Twitter Facebook LinkedIn After recording one of the worst sell-offs in all of 2018, the crypto market has experienced a minor corrective rally, adding $8 billion to its valuation. The Bitcoin (BTC) price is approaching a resistance level at $5,600, a minor resistance level BTC will have to surpass to potentially eye a rally to $5,800 and potentially re-enter the $6,000 region. Since August, BTC had defended the $6,000 support level, which has since turned into a major resistance level. Hence, if BTC initiates a corrective rally throughout the next…

Bitcoin Price Decline Will be a Short-Term Event

Twitter Facebook LinkedIn For the first time in three months, Bitcoin initiated its first major move. Unfortunately, for investors in the crypto market, BTC plunged by more than 11 percent, engaging in one of the most intense sell-offs in a 24-hour period in all of 2018. Bitcoin Price Tumbles BTC/USD | Coinbase On CNBC Fast Money, BKCM founder and CEO Brian Kelly stated that the recent drop of BTC and the rest of the crypto market could be mainly attributed to the civil war of Bitcoin Cash (BCH), wherein two…

Bitcoin Market Cap Below $100 Billion as BCH Hard Fork Spooks Investors

Twitter Facebook LinkedIn It has been more than 24 hours since bitcoin scared investors with a sudden 10 percent drop. But there hasn’t been a concrete recovery action — yet. The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. The coin’s market cap has risen likewise but remains below the three-figure billion dollar valuation. The weekly chart on Coinbase indicates BTC/USD is testing the support area of a giant falling wedge formation. Technically, a falling wedge formation predicts a potential breakout…

Blockchain Adoption | Sberbank CEO Anticipates 1-2 More Years

The head of Russia’s Sberbank has set tongues wagging after he emerged bullish about the future of blockchain adoption. CEO Herman Gref is forecasting industrial scale adoption in as little as one or two years. Blockchain Adoption Gref believes the technology is on the cusp of entering the industrial development stage of its evolution. Speaking to journalists this week, he said: “The hype around the technology [blockchain] is now over, and the technology is entering the stage of industrial development. It needs a year or two to be implemented at the…