January 10, 2020

How MakerDAO doubled its users in a single weekend using Coinbase Earn

By Kenzan Boo On July 26, 2019, Coinbase Earn launched the Dai Advanced Task. In a few days, users created more CDPs (Collateralized Debt Positions) than ever existed. In the previous 11 months, about 9,000 CDPs were created on the blockchain with MakerDAO. We chose to launch on a Friday. On the weekend after the...
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Bitcoin price breakout caused by markets, not by Iran

How did your 2020 begin? While the world’s greatest economic and military superpower was inching close to war with yet another Middle Eastern country, Bitcoin was sitting back and watching its value surge. On January 3, Qasem Soleimani, an Iranian military commander, hailed as the second most important person in the country, was killed by...
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XRPL’s ver. 1.4.0’s ‘Deletable Accounts’ supported by validators’; yet to be enabled

XRP has maintained its position among the top three cryptocurrencies, while the development arm of Ripple, Xpring kept up with the innovation streak and the XRP ledger version 1.4.0 was released on Friday, 10 January. Xpring wrote in a tweet: “XRP Ledger version 1.4.0 is available on Mainnet and introduces “Deletable Accounts,” a new Amendment...
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XRP sets itself up for a short-term 5% to 8% bounce

XRP, the third-largest crypto has had its downs more than ups; things have started to change for XRP, but the future looks slightly less gloomy. Especially with a tiny surge on the horizon. 4-Hour Chart Source: XRP/USD TradingView XRP’price successfully completed a reversal pattern [triple bottom] and surged by 15% reaching $0.22. This pump for...
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Bitcoin and Ethereum being centrally-held highlights a trust problem

The term decentralized currency was meant to signify a virtual currency that would be based on the logic of mathematics and economics, mined from the blockchain and stored in one’s digital wallet, assigned by a private key. However, that is not the case. In a recent piece on the Bankless blog, Coinmetrics co-founder Nic Carter...
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Bitcoin’s 2020 Bullish Run Continues Surpassing $8000: The Crypto Weekly Report

Bitcoin’s price has been on a wild ride this week. So far, January definitely doesn’t disappoint in terms of volatility and excitement. Seven days ago, Bitcoin was trading at slightly above $7,300. As the week progressed, however, its price shot up to $8,400 only to pull back down to $7,700 from where it’s currently recovering....
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Bitcoin cloud mining may not reflect a positive ROI post halving

Bitcoin halving is expected to take place around May 2020 and it will prompt the inflation rate to decrease by ~1.7%. The halving will also result in the overall mining cost to become expensive, replacing the use of lower-end mining hardware with active ASICs second-hand market, according to TokenInsight’s report. Cloud mining, a type of...
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Bitcoin miners are ahead of the curve on renewable energy

Bitcoin always had its critics. From regulators to bankers, the financial aspect of Bitcoin was a bone of contention to many. Another pain-point with Bitcoin was its production, or rather the energy-intensive nature of Bitcoin mining. Financial freedom for environmental harm was a small price to pay for many. Yet some could not balance the...
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North Korean hackers use fake websites, Telegram groups to steal cryptocurrencies

According to new research by Kaspersky labs, the infamous Lazarus group used ‘enhanced capabilities’ to attack cryptocurrency businesses. The firm has been following the cyber theft campaign dubbed ‘Operation Applejues’ since 2018 and according to its report, victims across the world including the UK, China, Poland, and Russia have been affected. The hackers used the...
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Ethereum Could See More Pain Before Face-Melting Bull Market: Analyst

Ethereum‘s long-term fundamentals are intact, but short-term price action is expected to bring pain, analyst claims. | Image: shutterstock.com Ethereum may be due for one last leg down. Despite ether’s bearish price action in 2019, it has made significant progress. The cryptocurrency’s growing fundamentals will likely eventually catalyze a new bull market. Just like bitcoin,...
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Bitcoin’s long-term prospect looks bleak but after a 5% rally

Bitcoin’s recent rally was delayed but it arrived nonetheless; the price shot up by ~16% in 3 days to $8,436. However, the rally has stopped and reversed as the retracement continues. This can mean two things for Bitcoin, a short retracement prior to another pump; exhaustion of the surge. The latter seems more plausible due...
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Crypto Price Analysis & Overview January 10th: Bitcoin, Ethereum, Ripple, Tezos, and BSV.

Bitcoin saw a 7.51% price increase over the past week that allowed it to rise above the previous range it was trading within. The cryptocurrency broke above the upper boundary at $7,800 and continued to surge much higher as it reached expected resistance at the 200-days EMA at around $8,160. The cryptocurrency did climb even...
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HyperTech Group ‘HyperCommunity’ annual event successfully held in Hong Kong

On 6 January 2020, the HyperTech Group Annual Event was successfully held in Hong Kong, where blockchain industry leaders, digital currency enthusiasts and industry advocates from around the world gathered in Hong Kong to celebrate the start of a new year. Sam Lee, Chairman of the HyperTech Group Ryan “The Martian”, Chairman of CollinStar Capital,...
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Bitcoin difficulty predicted to reach a new ATH of 15TH/s

Bitcoin difficulty and hash rate are two important factors that determine network health and also the state of miners. According to CoinMetric’s estimates, the difficulty will hit a new all-time high of 15 trillion in four days. In a recent tweet, CoinMetrics mentioned that there would be an ~8% increase in Bitcoin’s difficulty making it...
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Crypto’s Richest 1% Fail to Hoard a Whole Lot of Bitcoin

Bitcoin isn’t high among the list of addresses who own over 1% of a crypto asset. | Source: Shutterstock.com Bitcoin is more fairly distributed than altcoins. Cardano may be dangerously centralized. Whales are still a significant issue for BTC. When contemplating crypto whales, the knee jerk reaction is to automatically think, “lotsa bitcoin;” However, according...
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Ethereum Classic’s Agharta upgrade gets support from Binance

Ethereum Classic’s network update Agharta has been scheduled to take place on 12 January and it has been receiving support from various exchanges, clients, mining pools, etc. Binance announced its support for Agharta on 10 January 2020. The exchange announced: “Binance will support the upcoming ETC Agharta Network Upgrade. Deposits and withdrawals of ETC will...
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Ripple and Thailand’s SCB to launch mobile payment app

Thailand‘s Siam Commercial Bank (SCB) recently partnered with RippleNet to create ‘SCB Easy’, a mobile application that facilitates instant, low-cost cross-border payment solutions, according to a blog post. With this, the 112-year-old bank became Thailand’s first domestic bank that is willing to push forward with Fintech partnerships. At Ripple‘s annual Swell conference, Arthit Sriumporn, SCB’s...
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No Need For Central Bank Cryptocurrency For Now, Australia Concludes

While several countries and entities are starting to consider launching their own central bank digital currencies (CBDC), Australia might be on the opposite side. The nation’s Reserve bank seems to think that there’s no current need for such a product among customers, as the payment system now is stable enough. No CBDC in Australia The...
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Tron (TRX) Price Prediction and Analysis in January 2020

Today, we will be reviewing some of the market opinions and TRX historical prices, so that we can formulate a Tron price prediction for January 2020. Tron Overview Tron’s New Logo TRON is an open-source, decentralized blockchain network that was introduced in 2017 by Justin Sun. The platform originally aimed to facilitate the publishing of...
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The State Of Illinois Legalizes Blockchain-Based Smart Contracts

The US State of Illinois made a massive step towards further blockchain adoption. According to the Blockchain Technology Act, which took effect on January 1st, blockchain-based smart contracts satisfy the law under certain circumstances. Smart Contracts Admissible In Court One of the biggest challenges in front of regulators when it comes to crafting legislation for...
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Bitcoin derivatives platform Deribit moves to Panama

Prominent Bitcoin Futures and Options Exchange, Deribit has announced that it will be moving to Panama, from the Netherlands. The derivatives platform informed through a blog post that from 10 February 2020 Deribit.com will be operated by DRB Panama Inc., a 100% subsidiary of the Dutch entity. The decision of the exchange followed the “strict...
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Cryptocurrency Regulation in China

Unlike cryptocurrency regulations in the USA, China region has a less crypto-friendly attitude towards cryptocurrency.  In this article, I’ll explain how China views its crypto regulations. In countries like the United States, cryptocurrency profits count as taxable income. The country recognizes cryptocurrency as a commodity or property. A lot of countries including China want to...
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China To Impose Stricter Financial Monitoring Rules, Bitcoin Emerges As An Alternative

China’s central bank is reportedly preparing a new set of stricter rules that will affect public privacy and personal information. The update will make nine significant changes regarding leasing services and other types of financial transactions, and the community has quickly brought up Bitcoin and its potential to be used freely in similar situations. China...
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Bitcoin hoarded by exchanges amounts to over 10% of total supply

Bitcoin is known by many names. According to the white paper it’s called the “peer-to-peer electronic cash system,” to its adherents it’s hailed as the “tool for financial freedom,” to the bankers it’s “fool’s gold.” One definition that most can agree on is that Bitcoin is a “decentralized currency” The first of its kind. But,...
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Elon Musk: Bitcoin Is Not My Safe Word

Bitcoin, despite being only 10 years old, has already left its mark on a lot of prominent and influential people. Elon Musk, who’s arguably one of the best-known and popular entrepreneurs in the whole world, has mentioned it again. And, moreover, staying completely true to his usual self, his statement could mean one of many...
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Block.one appoints former Forbes’ exec as its new CEO

Voice, the social media app developed by Block.one appointed Salah Zalatimo as its new CEO, who formerly served as the global Chief Digital Officer with Forbes, according to a blog post. Commenting on this new addition to the team, Block.one’s CEO Brendan Blumer said that Zalatimo’s experience in content tool creation would be a valuable asset...
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Bitcoin mining-related financial products to rise this year: Report

In a recently published annual report on Bitcoin mining for 2019, TokenInsight spoke about mining-related financial products that are available today, and how they might change in 2020. According to the report, ‘diversified financial products will be launched in the future, paving the way of fierce competition in 2020.” TokenInsight also pointed out how the...
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Bitcoin mining now seeing progressive attitudes from developed countries

TokenInsight recently published its annual research report regarding the cryptocurrency mining industry in 2019. The report spoke about how most developed countries today have relatively progressive attitudes towards mining Bitcoin and other cryptocurrencies, as well as what factors affect where mining farms are set up. According to the same, “Low electricity cost, well-structured legal framework,...
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Bitcoin, a reliable alternative during global uncertainty: Perianne Boring

The heightened tensions between the United States and Iran have contributed to the narrative of Bitcoin as a safe haven asset. However, according to Perianne Boring, Founder of the U.S Digital Chamber of Commerce, this is not the first time the digital asset’s price has spiked during global uncertainty. In a recent interview, Boring recalled...
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