Andrew Yang Gets Surprise Endorsement from Elon Musk – via beincrypto
Andrew Yang, the most pro-cryptocurrency candidate running for President, has scored an unexpected endorsement from Elon Musk. It’s likely the two share similar opinions on universal basic income, Yang’s signature policy proposal. The internet was taken by storm recently over Elon Musk’s recent endorsement of Andrew Yang on Twitter. The surprise tweet has thus far been liked over 97,000 times and retweeted some 19,000 times.
Andrew Yang Gets Surprise Endorsement from Elon Musk – via beincrypto
Walmart Files Patent Application For Blockchain-Backed Drone Communication – via Coindesk
Walmart has reasserted its interest in blockchain-backed drones with a recent patent application. Commerce giant Walmart filed for an application entitled “Cloning Drones Using Blockchain” in January 2019 with the United States Patent and Trademark Office publishing the patent on August 1. The patent for an unmanned aerial vehicle (UAV) blockchain-based coordination system was published the same day as Walmart’s digital currency patent application.
Despite CEO Claims, Dash Isn’t Really the ‘Most Used’ Crypto in Venezuela – via Coindesk
“Dash is the most used cryptocurrency in Venezuela,” said Ryan Taylor, CEO of Dashpay, as he stood on stage last May during CoinDesk’s Consensus event. This statement has been repeated time and again by Dashpay, hinting that crypto is taking off in Venezuela’s economy. But after investigating the true uptake of the crypto in Venezuela, this statement – while bold – isn’t quite true.
Will Investors Flee to Bitcoin as Recession Looms? – via NEWSBTC
The global economy has been facing increasing downwards pressure as of late that has sparked significant fear amongst traditional investors, and now one historically accurate indicator is flashing warning signs of an imminent recession, which could prove to be a positive thing for Bitcoin (BTC). Importantly, analysts are also noting that the sheer amount of global bonds that are currently trading at a negative interest rate is also reason enough for investors to ditch the traditional economic system in favor for Bitcoin and decentralized options.
New IRS Warning Letters Target Crypto Investors Who Misreported Trades – via Coindesk
The U.S. Internal Revenue Service (IRS) is sending another round of warning letters to cryptocurrency users, this time to taxpayers it believes to have misreported income from exchange transactions. In addition to the three letters sent last month to crypto traders advising them they may have incorrectly filed their taxes, the IRS is now also telling certain investors that they did, in fact, report the wrong amount of income from crypto transactions. And the agency is looking to collect.
Measuring The True Impact Of The Blockchain – via Cryptodaily
One of the main trends of 2019 is expected to be tokenisation. This can be anything from a pizza delivery service to artwork can be subjected to tokenisation. Along with AI development, tokenisation will give us an opportunity to order goods and services carried out by autonomous machines and pay with tokens for the completed work. If we take a look at a few aspects of day to day life that could be changed by both virtual assets and the blockchain.
Charlie Lee Explains Slow Litecoin Core Development and Why We Shouldn’t Worry – via beincrypto
Speculations are rife about the fate of Litecoin as the world’s fifth-largest cryptocurrency by market cap struggles to rope-in competent developers to take charge of protocol development. Two conflicting possibilities emerged over the weekend, including one that suggested Litecoin is as good as dead due to stagnant R&D and a lingering lack of transparency.
Nevada Crypto ATM Operators Now Require Money Transmission License – via Coindesk
Nevada’s regulatory stance on cryptocurrency kiosks has shifted, now requiring a state money transmission license. Speaking with CoinDesk, BitAML Senior Advisor Annelise Strader said Nevada abruptly and without announcement changed its regulatory stance on cryptocurrency kiosks. Following the last legislation session closing in May without passing a proposed cryptocurrency bill, Strader says the state’s regulatory team changed its interpretation of what constituted a money transmitter within the state. Kiosks must be licensed by the state and will require a surety bond requirement.
Massive UK Newspaper Heralds Bitcoin and the “Golden Age of Cryptocurrency” – via NEWSBTC
The United Kingdom’s widely circulated Metro news publication has published a surprisingly bullish article explaining Bitcoin for its millions of readers. The article is scant in its detail but does feature a full Bitcoin explanation video. The overall tone of the clip is incredibly optimistic for Bitcoin’s long term. Rather than caution against its use, it seems to encourage it, explaining in the simplest possible terms and providing information on how to buy the crypto asset.
XRP Massively Falls Amid New Lawsuit Claiming The Digital Asset Is An Unregistered Security – via UsetheBitcoin
XRP, the third largest digital asset in the market, is currently experiencing a massive fall of almost 10% in the last 24 hours. This is according to data provided by CoinMarketCap, in a day in which digital currencies are operating with large price losses. The virtual currency has dropped under its long-term support of $0.28.
Elizabeth Stark Denies Calling on the SEC to Investigate Bitcoin Cash – via beincrypto
Elizabeth Stark, the co-founder of Lightning Labs, has denied rumors that she directed the attention of the United States Securities and Exchange Commission (SEC) towards Bitcoin Cash. After a Twitter user alleged that Stark had called for the SEC to investigate BCH, Bitcoin engineer Jameson Lopp responded with a YouTube link to provide more context and quell the controversy. The video, recorded at a San Francisco Bitcoin Meetup in December 2017, shows Stark explaining the SEC’s ruling on Initial Coin Offerings (ICOs).
This Cryptocurrency Plunged 62% After SEC Files Emergency Lawsuit – via NEWSBTC
The United States Securities and Exchange Commission has filed an emergency lawsuit in a Brooklyn federal court in an attempt to prevent a somewhat popular ICO from spending the money that was raised from the issuance of its cryptocurrency. News of this emergency filing instantly led to a massive dump for Veritaseum, which raised a total of nearly $15 million from an Initial Coin Offering in mid-2017 and early-2018, and this emergency lawsuit may be emblematic of an imminent crackdown on unregistered securities that were offered through the course of the 2017 and 2018 ICO craze.
XRP Payment Exploit Targeted on Beaxy Exchange, Trades Rolled Back – via beincrypto
The price of XRP/BTC recently crashed due to a coordinated sell-off and exploit on the new exchange Beaxy. All trading activity and withdrawals have been halted. Cryptocurrency exchange Beaxy, which launched only in June, is facing controversy after its XRP/BTC trading pairs plummeted due to a sell-off by a coordinated group. The cryptocurrency dropped 40% relative to BTC during the attack. So far, the perpetrators are still unknown.
Samsung Quietly Adds Bitcoin to its Blockchain Keystore – via NEWSBTC
Korean tech giant Samsung has added Bitcoin support to its Blockchain Keystore SDK. This will eventually allow users to use Bitcoin with applications via the company’s secure storage hardware featured on supported devices. In addition to adding Bitcoin, the Samsung Blockchain Keystore SDK will also support the Klaytn network too. Klaytn is the blockchain effort by Korea’s largest social messaging company, Kakao.
Ripple takes a step towards decentralization as it sees a significant fall in its dUNL – via AMBCRYPTO
Ripple is undoubtedly one of the largest firms in the cryptospace today. The San Francisco-based exchange has been stung by a lot of criticism recently, despite repeated attempts by the Brad Garlinghouse-led team to disambiguate centralization claims of its cryptocurrency, XRP. A lot has been argued about its consensus protocol, the most recent one being on the issue of Ripple’s validators.
It’s Not Just Bitcoin That Has A Problem With Money Laundering – via Cryptodaily
As is the general consensus, Bitcoin can supposedly make it easier for criminals and fraudsters to conduct illegal transactions. The amount of money laundered through Bitcoin is nothing in comparison to the multi-trillion dollar network of illegal transactions that pass through traditional banks on a yearly basis. In a recent report published by the United Nations Office on Drugs and Crime, there are more than trillion dollars illegally transacted through the traditional banking system every year. In another recently published report, this time by Bloomberg called “The Cost of Dirty Money”, there are diagrams of the complex world of money laundering, featuring a web of banks, fines and prison sentences. In the report, there are several bad ‘actors’ listed some of which include, JP Morgan Chase, Citigroup, Liberty Reserve, Wachovia, HSBC, Deutsche Bank, Standard Chartered.
Altcoin Chainlink On-Chain Activity Makes It A Standout In Crypto Market – via NEWSBTC
The crypto market is a new and emerging asset class that – due to the various innovation factors, its speculative nature, and the technological intricacies of each individual coin – makes assigning a value to any altcoins exceedingly difficult to pinpoint with any sort of accuracy. Crypto analysts use a variety of metrics to determine any fundamental benefits that could affect the long-term price growth of the asset. One such metric is on-chain activity, and according to a prominent crypto analyst, few altcoins are as “attractive” as Chainlink – a crypto asset that recently took the market by storm – when comparing on-chain activity data.
Chainlink (LINK) dump erases $600 Million in market value – via Bitcoinist
Roughly $600 million in the market value of LINK tokens has been erased after a series of bulk sales triggered in July. Following a 4chan media blitz conducted by the Chainlink development team, valuations have fallen by nearly 60% (after reaching highs above $4.80 on June 29th).
Bitcoin’s ‘Kimchi Premium’ Vanishes Again as Trading Range Tightens – via Coindesk
The spread between the price of bitcoin on South Korean and U.S.-based crypto exchanges, which returned in June and hit 16-month highs, has disappeared once again. A measure of how much more South Koreans pay for bitcoin, the spread, known colloquially as the “kimchi premium,” has reached remarkable levels, peaking at 54.48%, according to researchers at the University of Calgary. It then dropped and ultimately vanished, only to return again recently, running at around 5 to 10%.
Tether’s Trading Volume Suggest Bitcoin Could Surge To $20,000 – via Cryptodaily
Recent perks in the trading volume of one of the world’s leading stablecoins; Tether, suggests that Bitcoin could be about to embark on another huge price surge up to Bitcoin’s all time high of $20,000.00. Because Tether is a stablecoin, the value of it’s tokens does not change, it’s fixed to the price of the US Dollar (and other cryptocurrencies). The premise of this is that stablecoins give investors a way of buying cryptocurrency via stable means, without having to keep transferring from FIAT to crypto. Tether in short just turns your US Dollars into easier to spend, virtual dollars.
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