BitCoin Update


Venezuela launches crypto remittance services using Bitcoin [BTC] and Litecoin [LTC]

Venezuela launches crypto remittance services using Bitcoin [BTC] and Litecoin [LTC]

The Nicolas Maduro-led Venezuelan government announced the launch of cryptocurrency remittance services recently. The remittance, which can be settled by using two crypto assets, Bitcoin [BTC] and Litecoin [LTC], was authorized by the country’s crypto asset regulator, Superintendency of Cryptoassets and Related Activities [Sunacrip] earlier this month.The service on the Remesas platform is designed to enable individuals living abroad to settle payments with recipients in the Bolivarian Republic of Venezuela. The recipient should be of legal age and should also be registered with the Patria platform to receive payments.
Bitcoin Giant Coinbase Drops Hacking Team C-Suite After Public Outcry

Bitcoin Giant Coinbase Drops Hacking Team C-Suite After Public Outcry

What a past couple of weeks it has been for Coinbase. The San Francisco-headquartered added XRP to its Pro and Consumer platforms in rapid succession, and the firm acquired Neutrino, an analytics and research startup.  In a company statement, the now-Neutrino owner, valued at a hefty $8 billion, noted that it participated in this business deal due to the importance of blockchain data in its raison d’etre of creating a global open financial system.
QuadrigaCX mystery deepens after cryptocurrency cold wallets found empty

QuadrigaCX mystery deepens after cryptocurrency cold wallets found empty

Following weeks of speculation, QuadrigaCX’s court-appointed auditor has finally revealed the addresses for the struggling cryptocurrency exchange’s offline Bitcoin wallets.According to EY, which published its third report into the investigation on Friday, the cold storage wallets are empty – aside from a transfer of $400,000 worth in Bitcoin which was inadvertently sent last month – meaning $100 million in user funds continues to be unaccounted for.The news comes after the exchange said in January that it owed customers approximately $134 million worth of cryptocurrency.
Mark Zuckerberg is ‘potentially interested’ in putting Facebook login on the blockchain

Mark Zuckerberg is ‘potentially interested’ in putting Facebook login on the blockchain

Facebook CEO Mark Zuckerberg says he’s “potentially interested” in putting the Facebook login on the blockchain as part of a public interview with Harvard Law professor Jonathan Zittrain. In particular, Zuckerberg said the blockchain could give users unique powers when granting data access to third-party apps.Facebook has been investing in its blockchain team that was formed last May, led by David Marcus, who was formerly the VP of Messenger. The aim of the team has been to figure out the best ways to leverage blockchain with Facebook. Earlier this month, the company acquired blockchain firm Chainspace, which works on research and development of smart contracts.
Ethereum Condemns ‘Toxic’ Behavior That Caused Developer’s Abrupt Exit

Ethereum Condemns ‘Toxic’ Behavior That Caused Developer’s Abrupt Exit

In an open letter, tens of prominent Ethereum community leaders have spoken out against the “toxic” behavior prefacing Parity developer Afri Schoedon’s recent resignation. Heartfelt, it references Jameson Lopp, swatted in 2017. Lopp’s case is an “awful example of the intimidation that can be wrought in the midst of very heated debates.”It also lists other examples within the Ethereum community, such as Taylor Monahan’s alleged support for VeChain. Monahan responded to the negativity only to be told:“What?? You can’t just wave off any and all criticism by throwing ‘misogyny’ labels around. Nothing he said was misogynistic in the least, but because you once saw some misogynistic comments in a 4chan thread about you now you lump all your critics together? So childish.”
Quadriga’s Late Founder Revealed Crypto Storage in Old Podcast

Quadriga’s Late Founder Revealed Crypto Storage in Old Podcast

Quadriga CX founder Gerry Cotten died in December possibly holding the only keys to C$190 million ($143 million) in cryptocurrencies -- but five years ago, he revealed exactly how his digital exchange stored Bitcoin for its clients. Cotten was interviewed on the “True Bromance Podcast” in February 2014 when he was living in Vancouver, in which the show’s hosts
Blockchain is not only crappy technology but a bad vision for the future

Blockchain is not only crappy technology but a bad vision for the future

Blockchain isn't solely stinking technology however a nasty vision for the longer term. Its failure to attain adoption so far is as a result of systems designed on trust, norms, and establishments inherently perform higher than the sort of no-need-for-trusted-parties systems blockchain envisions. That’s permanent: despite what proportion blockchain improves it's still headed within the wrong direction.
Bitcoin (BTC) Regains Trading Dominance as Market Prices Fall

Bitcoin (BTC) Regains Trading Dominance as Market Prices Fall

Altcoin fatigue has taken over the crypto markets, and most trading activity has circled back to concentrate on Bitcoin (BTC). Typically, the original cryptocurrency takes up around 30% of all trades, but the proportion increased to more than 37% as of December 14. While prices struggle to remain in their current range, another sell-off has pushed them closer to $3,300.An even more dramatic change for BTC trading is the expanded influence of Tether (USDT) pairs. During Thursday’s sell-off, more than 71% of all trades happened in the BTC/USDT pair, based on data from CryptoCompare. Later, the proportion fell to about 68%, remaining relatively high.Altcoins still have a relatively high market dominance due to their sheer number. Some tokens and coins continue to see the occasional pump. However, Bitcoin’s dominance expanded to more than 54% after dropping to as low as 32% in January.
As Bitcoin sinks, industry startups are forced to cut back

As Bitcoin sinks, industry startups are forced to cut back

Around this time last year, the price of Bitcoin  hit an all-time high of nearly $20,000. Cryptocurrency enthusiasts everywhere boasted about the wealth 2018 would bring, initial coin offerings exploded and startups continued to pull in record amounts of venture capital. Fast-forward one year: Bitcoin is down 75 percent to a meager $3,700, sinking as quickly as its meteoric rise, and industry startups are paying the price.The latest victim is Bitmain,  a provider of bitcoin mining hardware that very recently submitted its IPO prospectus to the Stock Exchange of Hong Kong. The company confirmed to CoinDesk this week that cutbacks would begin imminently: “There has been some adjustment to our staff this year as we continue to build a long-term, sustainable and scalable business,” a spokesperson for Bitmain told CoinDesk . “A part of that is having to really focus on things that are core to that mission and not things that are auxiliary.”
Bitcoin crosses $4,000 for the first time in two weeks

Bitcoin crosses $4,000 for the first time in two weeks

Bitcoin has surpassed $4,000 for the first time in two weeks, continuing to break away from a months-long rout.The price of the world’s best-known cryptocurrency climbed almost 7 percent to $4,037 on Thursday, according to CoinDesk’s index tracker.The last time the digital currency was trading at the $4,000 level was on Dec. 4. It began to plummet in mid-November after months of stability, restoring volatility in an asset known to jump or fall hundreds of dollars within hours.It has fallen almost 80 percent since a record high near $20,000 in December last year. Earlier this week, bitcoin began to jolt upward on the anniversary of the cryptocurrency’s all-time high.


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