Although Bitcoin maximalists can sometimes be over the top, in this bear market, their ideology may hold some credence, as some ICOs have tumbled by over 90% from all-time highs.Oh How The Tables Have TurnedAs some may remember, BTC entered 2017 worth approximately $1,000 a piece, towering over the crypto market by holding an 87% lions share of the collective capitalization of all crypto assets. At this time, Bitcoin maximalism was near its peak, as the asset had continually proven itself to be a reliable investment and project, even in the roughest of waves.Yet as the year progressed, altcoins, specifically hyped up ICO projects, began a breathtaking crusade, as an influx of industry newcomers began to allocate their fiat solely to “promising” ICO projects. Ethereum, for example, saw an o
An impersonator hijacked Elon Musk’s official Twitter account on August 23, 2018, promising free bitcoin and ether to his 22.5 million followers. Tesla to Introduce BTC/ETH Payments (Not Really) Tesla Chairman and CEO Elon Musk’s official Twitter account was hacked on Thursday by a fake account. The lookalike account seemed to be verified and sent out a series of tweets offering his 22.5 million followers free cryptocurrencies. “As many of you know by now, we will soon be making Tesla, a private company. It is an important step towards stability, and it would be impossible to move forward in a desirable pace without making such decisions,” the impersonator wrote in a false statement in the name of Musk on Medium. “As a part of reorganization we will be introducing Bitcoin and Ethereum as
According to a report published on August 22, 2018, a new blockchain exchange-traded fund based out of Vancouver, Canada has surfaced in the cryptocurrency world and is set to be traded on the Aequitas NEO Exchange in Canada in September 2018. A Walmart-Backed ETF Worth a Second Glance Although the project is yet to receive regulatory approval, investments from companies such as Walmart are believed to be propelling the blockchain seedling to stardom. First Block Capital is Canada’s first fully regulated PM, IFM, and EMD crypto investment firm, and is in the final stages of obtaining regulatory approval for the FBC Digital Ledger Technology Adopters ETF. According to Bill Stormont, the company’s chief operating officer, First Block Capital expects to begin trading on Canada’s Aequitas NEO
New issuances of stablecoin Tether (USDT) are not currently affecting the prices of either major cryptocurrencies or smaller altcoins, Bloomberg reports August 24.In the article, Bloomberg noted that the allegations that Tether has been used to manipulate or stabilize the price of Bitcoin (BTC) — previously put forward in a paper from the University of Texas — are not holding true for the crypto markets this August. The paper, published in mid-June, had claimed that Bitcoin reached its all-time high of $20,000 due to price manipulation involving both Tether and sixth largest crypto exchange Bitfinex, which is reportedly “the only direct client” of Tether. In a June article, Bloomberg had noted that the research paper used 87 examples of the largest purchases of Tether with BTC from March 2
Many leading blockchain organizations like Blockchain at Berkley, Uphold, Brave, and Cred recently announced on August 23, 2018, the creation of a Universal Protocol Alliance (UPA). One Network Called Proxy Tokens The goal of UPA is to ensure that blockchain technology and cryptocurrencies will reach the mainstream public. They believe that the current verticalization of blockchain platforms leads to many inefficiencies. The coalition’s plan to solve these challenges is to ensure that all cryptocurrencies can be accessed on a single network. According to the official announcement, the UPA believes that interoperability between different blockchains must occur for mass user adoption of these technologies. Currently, digital assets like bitcoin and ether can only exist on separate blockchai
Do you believe in God? Would you put your cryptocurrency holdings on it? Augur, an ethereum-based platform for betting on the outcome of real-world events, aims to be a repository of crowd-sourced knowledge for journalists, investors and policymakers, as well as an effective tool for hedging against adverse outcomes. But it's also become one other thing: a hilarious place to troll. Forums for questioning a higher power are just one of many markets that currently exist on the decentralized prediction market, developed by the non-profit Forecast Foundation and funded with one of the world's first token sales in 2015. That token sale took place before people were even using the word initial coin offering, or ICO, to refer to these types of crypto fundraising schemes, and the project went thr
Ethereum (ETH) core developers have held their regular meeting on YouTube August 24 on the progress of client implementation and tests of the Enterprise Integration Patterns (EIPs) for the upcoming Constantinople hard fork.The meeting started with a discussion of the latest updates on the processes of no-proof blockchain tests and the progress achieved on major ETH clients, with one of the devs explaining that there is a need to revamp some of the testing to avoid potential consensus issues. This week saw the release of a number of new features; however, the devs noticed one instability with a “huge” major miner rewrite, which is supposed to be solved by the next update. By Monday, the devs are planning to push out another release “to have the whole thing completed” and finalize the mining
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.The market data is provided by the HitBTC exchange. On August 22, the U.S. Securities and Exchange Commission (SEC) rejected 9 proposals for new Bitcoin exchange-traded funds (ETFs), but - perhaps surprisingly - the news did not result in a crypto market crash, like it did in similar instances before. This shows that very few purely speculative positions had been built expecting an ETF application to be approved. Another negative piece of news about China further tightening its restrictions on cryptocurrency trading was also taken in stride by the trade...
Wirex Ltd., a cryptocurrency-fiat payments platform, has become just the third ever crypto-enabled firm in the world to be granted the prestigious UK FCA license. According to an official post on its website, the company was awarded the UK FCA license on August 21, 2018. Taking Formal Steps Forward This comes as a huge milestone for the payments solutions company as obtaining a UK FCA license entails compliance to strict processes and standards. The e-money stamp of approval will further cement the company’s position as a significant player in global payments sphere. The license becomes all the more critical for a cryptocurrency firm, as the industry has been under much scrutiny due to rampant ICO exit scams and highly volatile markets. Wirex’s co-founder Dmitry Lazarichev views the licens
A meeting that brought together a broad representation of ethereum stakeholders to discuss code changes on which decisions need to be made ahead of a software upgrade scheduled for October, failed to produce immediate results Friday. The bi-weekly developers call, which this week included a majority of the network's miners and some prominent investors, had the goal of forging consensus on changes to ethereum's underlying economics, the speed of its upgrades and the mining methods it supports, as well as establishing an order in which concerns might be addressed through future upgrades. However, despite nearly two hours of dialogue, the meeting ended with the resolution that the discussion continue, with a follow-on meeting scheduled for August 31. Adding necessity to the talks is that the...