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Showing posts from August, 2020

Could be this the new future crypto world?

Hi! Check out Upland, a virtual property trading game. If you use this link, Upland will award you with a bonus for your first purchase REBUILD THE WORLD Upland is the Earth’s metaverse. It is a parallel world where users play, operate businesses, and connect with fellow Uplanders. They buy, sell, and trade virtual properties that are mapped to real-world addresses. Blockchain technology ensures true ownership of digital assets in Upland. The in-app currency called “UPX” fuels an open market economy. When Uplanders become digital landlords they start collecting UPX from their properties. They can increase their earnings by completing collections of properties with similar characteristics. Treasure Hunts and live events are additional fun features and sources to build up one’s net worth in Upland. Currently, open cities include San Francisco and New York, with more cities and regions added over time depending on the market and local demand. What makes Upland s

A Radical New Crypto Just Blew Past The Bitcoin Price All-Time High—Up A Shocking 3,500% In Just One Month

  Bitcoin and cryptocurrency markets have been dominated by decentralized finance, often shortened to DiFi, over recent months. The bitcoin price, up around 40% since the beginning of 2020, has been left in the dust by the gains made some DeFi project tokens—including (YFI) that's up a staggering 3,500% in just a little over a month and has surged past bitcoin's late-2017 $20,000 all-time high. The price of tokens have soared from under $1,000 per YFI since it was created in mid-July to over $30,000 this weekend, passing the bitcoin price on Friday. The price came close to $40,000 on some bitcoin and cryptocurrency exchanges before falling back. YFI is the governance token of DeFi protocol yEarn, designed to aggregate yields from other lending protocols. DeFi is the idea cryptocurrency technology can be used to recreate traditional financial instruments such as loans and insurance. YFI holders can use their tokens to vote on proposals

Not Possible With Gold: Peter Schiff Asks for Bitcoin Gifts for His Son’s Birthday

  In a compelling turn of events, Peter Schiff’s son purchased Bitcoin. The community sent him at least $300 in BTC as a welcoming 18th birthday present. Spencer Schiff, the son of the well-known economist, gold-bug, and permanent Bitcoin basher Peter Schiff, recently purchased an undisclosed amount of BTC. Aside from criticizing the primary cryptocurrency once again, his father prompted the community to send Spencer a belated birthday present, not in gold but in BTC. Schiff Jr. Appreciates Bitcoin, Unlike His Dad? Spencer Schiff, who recently turned eighteen, seems to follow his dad’s footsteps in finance, as Schiff Senior is a prominent economist and a long-time gold supporter. However, his son displays one significant difference when it comes down to Bitcoin perception – unlike constantly criticizing the asset like his dad, Spencer Schiff recently bought an undisclosed amount of the primary cryptocurrency. Peter Schiff acknowledged the purchase on Twitter and attempted to turn the

Emurgo releases oracle solution for Cardano’s Goguen era

Emurgo and Ergo have developed “Oracle Core”, the first oracle solution for the upcoming Goguen era of Cardano. The solution is fundamentally different from Chainlink and relies on oracle Pools, which use the base cryptocurrency of the blockchain for funds and means of payment. The Cardano ecosystem continues to make great strides toward the launch of the Goguen era, which will bring smart contracts and decentralized applications (dApps). As Charles Hoskinson recently reported, development is in full swing, with the roadmap for the Goguen rollout due to be presented in late September. In addition to IOHK, Emurgo, Cardano’s corporate branch, which is to promote the platform through commercial activities, is also working towards the launch of Goguen. As a result of Emurgo’s partnership with Ergo, the new product “Oracle Core” for UTXO based dApps and DeFi applications was released yesterday. As stated in the announcement, Oracle Core is the result of extensive research under the directi

Ethereum whale transfers 62,134 ETH as Ether remains above $385

  Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts. Ethereum whales are on the rise, of late. This is because the second most valuable crypto continues to remain attractive to many investors and crypto-traders. Data from an advanced crypto tracker, Whales Alert, showed that an ETH whale moved 62,134 ETH (24,079,813 USD) from an unknown wallet to another unknown wallet. Priced at $387 as at the time of this writing, the increased activity is a good long-term sign of things to come for Ethereum holders. Ethereum 24-hour trading volume is $8,717 billion. ETH price is up 1.4% in the last 24 hours. It has a circulating supply of 110 million coins and a max supply of ∞ coins. What are Ethereum whales? In the Ethereum world, traders or investors who own a large number of Ethereum are typically called whales. This means an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more. Meanwhile, Ethereum’s daily t

US Crypto Users Receive Fresh IRS Notices

The question of crypto investment is also explicitly mentioned in the draft Form 1040. The United States Internal Revenue Services (IRS) are sending fresh notices to cryptocurrency investors seeking a declaration for their investments. As posted by many Reddit and other social media users, the new tax department is warning letters are dated August 14, meaning they were just sent out. Though there is a huge debate over taxing the incomes from the digital currencies, the tax watchdog is currently taxing them as property. The IRS first introduced the disclosure question about cryptocurrency investments in its draft 1040 form last year. This year too, that question remains clear. “At any time during 2020, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency,” the 2020 draft of 1040 form asks potential taxpayers. Unlike other assets, cryptocurrencies are much unregulated, but many Americans’ interest in the space to earn quick profits al

China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy

  China has been developing its central bank digital currency (CBDC) for some time, recently testing its digital currency electronic payment (DCEP) on retail small-scale transactions.  Recently, a Chinese senior central bank official said China should maintain a “normal” monetary policy as the country has been reportedly recovering from the coronavirus pandemic smoothly. Head of monetary policy at the People’s Bank of China, Sun Guofeng, said that the central bank would not change its monetary policy or take a more flexible approach. He noted that liquidity would stay ample, allowing China’s economy to return to its continuous growth. He added: “To cope with all sorts of uncertainties, the monetary policy requires greater certainty.” Unlike other countries’ approach for a post-COVID economic recovery, China has not adopted zero or negative interest rates, and quantitative easing, highlighting that the country does not need to deal with the complications that come with these strate

Hong Kong gives backing for first crypto exchange licence

Markets regulator has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities, a unit of Fidelity-backed BC group Hong Kong's markets regulator has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities, a unit of Fidelity-backed BC group, the company said in an exchange filing on Friday. OSL said last November it had become the first firm to apply for a digital asset licence from Hong Kong's Securities and Futures Commission (SFC) under new rules allowing crypto exchanges to opt into regulation. No other company has so far said it has received such approval. Financial regulators worldwide have been debating whether and how they should regulate the cryptocurrency or virtual asset industry. OSL, and some of its competitors, say they welcome regulation in order to make it easier to provide services to financial institutions wishing to trade cryptocurrencies. BC Group CEO Hugh Madden said that one benefit of being licenc

VeChain partners another renowned company with NSF International

  With NSF International the VeChain Foundation has gained another well-known partner who will use the VeChain ToolChain™. The risk management solutions provider has developed a new food safety certificate that is stored and continuously updated on the VeChainThor blockchain. The VeChain Foundation has attracted another big name with NSF International just days after gaining Grant Thornton as a partner. NSF International is an American company that operates in 150 countries worldwide and is a provider of risk management solutions for public health and safety. Producers, regulators and consumers turn to NSF International to develop public health standards and certification programs to protect food, water, consumer products and the environment in general. NSF International has announced yesterday that it has issued a new Coronavirus Safety Protection Certification using VeChain’s Blockchain-as-a-Service (BaaS) platform, the VeChain ToolChain™. The company stated that there is currently

$50 Billion in Crypto Transferred Outside China in 2019

Chinese investors have to procure the cryptocurrencies from OTC desks. Chinese nationals might be inclining towards cryptocurrencies for transferring their money outside the country as blockchain analytics firm Chainalysis found out that around $50 billion in digital currencies left China last year. On a report published on Thursday, the New York-headquartered firm detailed that most of the transactions were made in  stablecoins , whereas Tether alone accounted for $18 billion of the outflows. “Stablecoins like Tether are particularly useful for capital flight, as their USD-pegged value means users selling off large amounts in exchange for their fiat currency of choice can rest assured that it’s unlikely to lose its value as they seek a buyer,” Chianalysis stated in the report. Indeed, Tether always remained popular in China following the communist government’s ban on crypto trading platforms in 2017. Traders often head to over-the-counter (OTC) desks to get their hands on stablecoins

Binance Launches DeFi Staking With Cryptos Kava and Dai

  Users of crypto exchange Binance can now stake Dai and Kava as the exchange’s decentralized finance (DeFi) staking platform goes live. Binance’s DeFi staking  program was first announced Wednesday with Dai, the stablecoin generated by loans on MakerDAO. The Binance initiative aims to tap into this year’s  booming DeFi market  by offering the ability for users earn staking rewards (akin to interest) on select digital assets. On Thursday, Binance added Kava as the second asset to its staking product. Kava is a DeFi platform backed by Binance, Huobi and OKEx with a native token by the same name. In a statement to CoinDesk, Binance CEO Changpeng Zhao said: "Our users have been requesting giving them access to DeFi. Binance prioritizes user experience and in the spirit of the community, now offers direct integration into these DeFi products allowing the products' value to flow out to users and that's happening with KAVA and BNB to name

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