Friday, September 17

Month: May 2020

The Only Correlation Between Bitcoin and the Stock Market is Panic Selling
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The Only Correlation Between Bitcoin and the Stock Market is Panic Selling

Bitcoin recently experienced a significant drop in value when over the course of this last week. Its value dropped from a stable $9,000 to $5,000 in a matter of days. At the same time, on the stock market, many companies and indexes also lost value. Most notably, the S&P 500 index, whose loses flipped a stock market circuit breaker, pausing all trading of the asset for 15 minutes. Following the events, many people started producing stories about how BTC is connected to the stock market’s price movements and it’s not this noncorrelated asset that should behave like gold. Well, Bitcoin is neither following the stock market, nor it is gold. What it is, is simple. It’s Bitcoin. The level of utility that Bitcoin has is as limited as money, but the way one owns Bitcoin is...
Binance and Wazirx Will Fuel Blockchain Growth in India With $50m USD in Grants
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Binance and Wazirx Will Fuel Blockchain Growth in India With $50m USD in Grants

Binance and WazirX, a subsidiary the world-renown exchange acquired last year will create a $50M USD fund called “Blockchain for India” according to the announcement on Binance’s website. Following the fact that the Indian Supreme Court Lifted the Central Bank’s Cryptocurrency Ban, this step from Binance is one business savvy way to capitalize on a newly opened market for cryptocurrency and blockchain. The fund is backed by BNB, BUSD, and WRX digital assets which will be used to make investments in blockchain projects and startups that are trying to solve technical and social issues with blockchain. “We started WazirX with the aim to involve everyone in this technology revolution, and the Blockchain for India fund marks a big step in this direction. India has the bigges...
The Ultimate Loyalty Tool For Users — Official MinerGate Blog
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The Ultimate Loyalty Tool For Users — Official MinerGate Blog

by MinerGate Mining Pool April, 29, 2019 MinerGate is glad to introduce MinerGate Token (MG) – a token created as a loyalty tool. It is designed as a vital instrument to fuel the entire ecosystem of MinerGate products. We have always been focused on enhancing our service and providing better user experience, and now the new MG token is going to serve this goal in full. It will be used as a community reward and a countable means of gratitude for our most loyal community members. The MG token provides new opportunities for the whole existing cryptospace as well as it’s newcomers. The token distribut...
BMW Group Enters Second Stage of Blockchain-based Supply Chain Transparency
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BMW Group Enters Second Stage of Blockchain-based Supply Chain Transparency

The BMW Group has increased its capacities for utilizing blockchain technology to provide its staff with the tools they need to create high-quality vehicles. According to the press release, BMW has faced great difficulty when tracking specific parts that need to be changed or simply weren’t of sufficient quality. Finding the manufacturer often involved a significant amount of manual labour, but now with the implementation of the second stage of their “PartChain” project, BMW and their suppliers are using blockchain systems to help them track parts at the push of a button. We’ve reached out to BMW Group for comments and more information, but they were unavailable for contact. The extremely complex nature of the automotive industry makes it a prime suspect for blockchain ...
The First Major Exchange To Support The MinerGate (MG) Token — Official MinerGate Blog
mining

The First Major Exchange To Support The MinerGate (MG) Token — Official MinerGate Blog

by MinerGate Mining Pool May, 9, 2019 Dear miner, We are glad to announce that HitBTC will be the first major exchange to list the MG Token. Support from HitBTC is an important step towards developing the MinerGate loyalty tool. HitBTC is one of the most advanced cryptocurrency exchanges out there, providing markets for more than 300 different cryptocurrencies. HitBTC delivers to its users a reliable, powerful and fast platform solution for crypto. The MinerGate token was created as a new way of cooperation between our product and its users. A few tokens have already been delivered to the most acti...
Digital Euro on the horizon? Central Bank of France to experiment with crypto for interbank settlements
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Digital Euro on the horizon? Central Bank of France to experiment with crypto for interbank settlements

The Central Bank of France wants to experiment with digital asset technology to improve interbanking abilities, according to this “Call to Apply” document that came out last Monday, on March 30th. The document lists all of the desires and goals that the bank has with cryptocurrency. At the moment, they are looking for third party help to drive their understanding of the technologies. They are looking to use blockchain technology for the achievement of a few interests and goals. Their interest is two-fold. One, to explore the possibilities offered by crypto technology. Two, to identify concrete cases for integrating CBDC (central bank digital currency) in the process of clearing and settlement of tokenized financial assets. The document continues to list three specific g...
MinerGate Token Is Now On EOSDAQ — Official MinerGate Blog
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MinerGate Token Is Now On EOSDAQ — Official MinerGate Blog

by MinerGate Mining Pool May, 16, 2019 Dear Miner, The MinerGate team is pleased to announce that our ultimate loyalty tool, the MG Token, is now available on EOSDAQ, the world’s first on-chain decentralized exchange. EOSDAQ is a platform that supports the peer-to-peer trade of EOS-based tokens. All transactions there are recorded on the blockchain in a transparent manner.  The EOS-based MinerGate token was created as a symbol of reciprocal loyalty between the team and the miners as well as a means of fuel for the whole project. A few tokens have already been delivered to the most active users. The...
Bitcoin Miner Manufacturer Canaan reports $148M USD Losses in its first public earnings report
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Bitcoin Miner Manufacturer Canaan reports $148M USD Losses in its first public earnings report

Canaan Creative, the manufacturers of the Avalon Bitcoin miner series have published their first earnings report since the company’s public stocks sale in the USA, on Thursday, April 9th, as initially reported by Coindesk. During it’s IPO in November 2019, the company raised $90M USD selling 10,000,000 stocks for $9 each. Now investors have lost 61% of their investment at the current price per stock. Nangeng Zhang, the CEO and founder of Canaan explained that sales of Bitcoin miners considerably dropped since December and he believes the reason is the volatility in BTC’s price. However, at the time BTC’s price movements were small and brief, painting a generally flat and upward curve going into the next year. The company’s revenue in 2019 is down two-fold compared to 20...
MinerGate Has Become a DApp Service Provider — Official MinerGate Blog
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MinerGate Has Become a DApp Service Provider — Official MinerGate Blog

by MinerGate Mining Pool June, 5, 2019 MinerGate has become a dApp Service Provider on the DAPP Network. It’s no secret that there have been some significant obstacles in the way of the efficient performance of dApp development. To develop on EOS, dApp developers must own and use RAM, which has its limitations. There are two of them: the high cost (more than 115 EOS/1 MB as of June 5th, 2019) and the limited supply (currently around 90 GB, anticipated to increase to 128 GB by the end of the year). As a matter of fact, these two points severely restrain the capabilities of dApp developers and their...
Kraken Acquires Marco Santori Leaving Blockchain High and Dry
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Kraken Acquires Marco Santori Leaving Blockchain High and Dry

Marco Santori, former President and Chief Legal Officer of Blockchain.com, joined Kraken as their new Chief Legal Officer on the 6th of April, according to a blog post on the official Kraken website. Marco Santori is known for his work in litigating, advising, and creating new laws in the crypto industry. He is also known for his Twitter trains of thought where he goes down the legal rabbit hole on many different topics related to cryptocurrency and Blockchain. Marco shared his future involvement in Kraken via Twitter as well. I am thrilled to announce that I am joining @krakenfx as its Chief Legal Officer. — Marco Santori (@msantoriESQ) April 6, 2020 Kraken is a California-based cryptocurrency exchange that has been in the crypto industry for a while. They are one of...