Latest News: Latest news involving crypto world, delivered to you at the moment they appear
- If you CAN'T use a coin, nobody wants it -> ZERO value
- If nobody uses a coin, nobody wants it -> ZERO value.
- If the cost of carry for a coin is too high, nobody wants it -> ZERO value.
IE Option Launches a 2-BTC Bonus Campaign to Promote Crypto Options Trading
IE Option, a London company that provides options trading service for cryptocurrencies, has officially launched a 2-BTC deposit bonus campaign for all deposits since March 2020. This promotion is upgraded […]Source
Cryptocurrency is an INTERMEDIATE store of value, but ONLY when it is used for payment
The value of any cryptocurrency is a product of its utility, its network effect, minus its cost of carry. Taken to the logical conclusions:
Since cryptocurrency is not widely used and accepted (yet), when physical or virtual items are paid for with a cryptocurrency, the crypto acts as an intermediate store of value. The buyer puts in fiat to acquire the crypto, and the seller exits to fiat at some point after the transaction.
Simply holding or hoarding cryptocurrency adds no value and only stokes volatility/misery. Yes, you can reduce supply and play games with prices, but no additional value is created.
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Binance Enters South Korea, Japanese Regulators Approve OkCoin Launch
Binance is launching it’s crypto exchange in Korea, Binance KR, whose functionalities will be attached to the global exchange. Japanese regulators have given a greenSource
Hypothetically, if bitcoin can be bought using fiat currency and governments truly perceived it to be a threat, what would stop them from buying up the entire supply?
This Metric Against Gold Signals Bitcoin (BTC) Market Cap Could Hit Over A Trillion By 2024
The price of Bitcoin (BTC) relative to other “store of value assets” such as gold, silver and palladium may be greatly undervalued according to the stock-to-flow (S2F) model. This is a model devised for assets that are naturally scarce to obtain such as searching and mining gold hence driving up value over time as the […]Source
Binance's South Korean adventure a sign of country's growing crypto-significance
One of the world's leading cryptocurrency exchange platforms, Binance has announced its foray into the South Korean cryptocurrency market via the launch of Binance KR, a crypto-to-crypto exchange for Korean users. According to an announcement by the exchange, Binance KR is set to launch in the next few days.This platform is being touted as the "the first global use case" of the Binance Cloud solution that was rolled out last month. Binance Cloud is essentially a platform that allows users to launch their own cryptocurrency exchange.Following the development, Binance CEO Changpeng Zhao said,"We are pleased to provide a digital asset platform for users in Korea to bring the trading depth, security and transaction speed of Binance.com to Binance KR. Our decision to list BKRW trading pairs will allow us to seamlessly connect crypto to the South Korean won in order to expand our local services."According to the official press release, Binance KR leverages the core functionalities of its parent firm, such as the market’s deepest spot trading liquidity, robust matching engine, and advanced state-of-the-art security, custody, and risk controls. Additionally, Binance's Korean platform is also supporting a BEP-2 stablecoin backed by South Korean Won [KRW], the Binance KRW [BKRW].South Korean crypto sceneBinance's latest announcement is a crucial one since it comes on the heels of the South Korean National Assembly passing new legislation in a bid to provide a framework for the regulation and legalization of cryptocurrencies and crypto-exchanges in the country.The article is being updated...The post Binance's South Korean adventure a sign of country's growing crypto-significance appeared first on AMBCrypto.Source
Ethereum Price Facing Ultimate Correction To $100: What Will Save The Bulls?
Ethereum price rejected at $135, struggles to find balance at $130 in a bid to avert declines towards $100. Besides the resistance at the 100Source
The Overton Window Opens for a Digital Dollar
Legislation introduced in the U.S. Congress this week signals the Overton Window – a metric of what’s politically feasible – is opening in favor of national digital currencies.Source
As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap
After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount. As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible. Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”.Source
Bitcoin Price Eyeing $7,000 After Fed Says it Has ‘Infinite Cash’
Bitcoin (BTC) and gold showed clear signs of strength on March 24 as the United States Federal Reserve revealed the true extent of its money printing. Having cleared $6,000 on Monday, BTC/USD went on to hold ground at around $6,500. At the same time, gold rallied, as market analysts suggested its recent selloff was over.Source
Blow To Bitcoin As Russia Moves To Effectively Ban Crypto
The bitcoin and cryptocurrency community is reeling from the sudden market downturn in the face of the coronavirus crisis, with bitcoin prices swinging wildly over recent days. Earlier this month, many cheered India's decision to permit banks in the country to trade cryptocurrency—something that was expected to boost the bitcoin price though the market collapsed amid coronavirus-induced panic.Source
Italian Bank Opens Bitcoin Trading to 1.2 Million During Lockdown
Growing crypto adoption and the COVID-19 outbreak has encouraged Italy’s Banco Sella to launch a Bitcoin trading service. The trading is conducted via the bank’s Hype platform, with the bank acting as an intermediary to mitigate against potential security risks with cryptocurrency exchanges. With the country in lockdown and everyone stuck at home, the bank is capitalizing on a growing interest in Bitcoin as a safe way to transfer money internationally in the midst of the crisis.Source
Rapper Akon Shares Whitepaper for Upcoming Cryptocurrency
Rapper and entrepreneur, Akon, shared the whitepaper for his upcoming ‘Akoin’ cryptocurrency project exclusively with Cointelegraph. The document describes Akoin as a cryptocurrency “designed for entrepreneurs in the rising economies of Africa and beyond,” adding that the project’s mission is to “unlock the potential of the world’s largest growing workforce” using blockchain technology.Source
No, the Fed Did Not Just Give Stock Traders $1.5 Trillion
There’s been a little bit of confusion about the dramatic steps the Federal Reserve is now taking to stabilize the financial system. The central bank announced on Thursday that it would inject about $1.5 trillion into the debt markets to keep them from collapsing in the face of coronavirus mania. After this news broke, at least a few figures with large Twitter followings seemed to suggest that Fed chair Jerome Powell had just bailed out stock investors. Some went further and argued that, if the Fed could afford to intervene here, there was no reason the government couldn’t afford to pay for, say, free college.Source