Newsletter
Cryptoscout
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • ICO
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • ICO
No Result
View All Result
Cryptoscout
No Result
View All Result
Home ICO

Bad Crypto news of the week

by The Crypto Scout
November 14, 2020
in ICO
0
Bad Crypto news of the week
Share on FacebookShare on Twitter



Bitcoin continues its bull run. The coin is up more than 12 percent over the last week and is now tickling $16,000. According to the Big Mac Index, a Bitcoin will now buy as many as 6,3421.26 of the giant burgers. It’s even passed the monetary base of the Russian ruble, and is on its way towards beating Canada. That will happen when Bitcoin is worth $18,000. It’s almost there. The coin already has a market cap bigger than that of Bank of America, Netflix, and Shopify. If it keeps rising, it will soon be in the top 20 assets by market cap, alongside Facebook, Tesla, and Apple. It’s no wonder that economists at the US Federal Reserve are looking harder at the value of CBDCs. They think that a central bank digital currency could be a useful way to deliver money directly to households.

Not everyone is so optimistic. Eric Wall, chief investment officer of crypto hedge fund Arcane Asset, is betting a million dollars that Bitcoin’s stock-to-flow model will be broken by 2025. By “broken” he means that Bitcoin won’t have reached 50 percent of its target range. In a tweet laying out the challenge, he tagged in PlanB, the creator of the model. PlanB had predicted a Bitcoin price of $100,000-$288,000 by December 2021. David Schwartz, CTO of Ripple, won’t be taking that bet. He says that he has already lost about $300,000 trading in tokens that turned out to be “completely worthless.”

The public still isn’t entirely persuaded either. Douglas Tuman, a crypto enthusiast and Monero podcaster, lost his bid for New York’s 4th District. He was running as a Republican on a pro-crypto platform. Joe Biden, though, has selected Gary Gensler to serve as an advisor, helping to ensure a smooth transition with the Federal Reserve and banking and securities regulators. Gensler was previously the chairman of the Commodity Futures Trading Commission and has talked about the importance of regulation to help cryptocurrencies grow.

Regulations have already landed on one Bitcoin user. Volodymyr Kvashuk, a Microsoft engineer, has been sentenced to nine years in prison for stealing $10 million of digital currency. He also told the IRS that the $2.8 million of cryptcurrency that passed through his account was a gift from a relative. That made this crime the first crypto conviction with a tax element.

Looking abroad, the China Construction Bank, one of the four biggest banks in China, is selling $3 billion worth of bonds and letting buyers pay for them with Bitcoin. The World Economic Forum sees the blockchain as the key to sustainable digital finance. And ZebPay, India’s oldest cryptocurrency exchange, is launching its own NFT and starting an NFT marketplace.

It’s not all good news, though. Binance has started to block US users from its platform. Users have 90 days to withdraw their funds. The blockade is the result of US regulators’ demands for the implementation of Know Your Customer and anti-money laundering requirements. And in Hong Kong, a proposal to require crypto exchanges to obtain a license and only target professional investors has met with criticism. The proposal, say some experts, will limit volume and suggest that crypto assets are speculative.

Finally, while the last few weeks have been pretty eventful for Bitcoin, Bitcoin Cash is about to have its moment. The coin hard forks in November 15. Make sure you’re ready.

Check out the audio here:

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.



Source link

Related articles

Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

April 23, 2021
YouTuber claims he’ll buy 111 Tesla Model 3s… if Elon Musk accepts Bitcoin Cash

YouTuber claims he’ll buy 111 Tesla Model 3s… if Elon Musk accepts Bitcoin Cash

April 23, 2021
Tags: badcryptoNewsweek
Share76Tweet47

Related Posts

Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

by The Crypto Scout
April 23, 2021
0

Decentralized finance protocol Kwenta has launched a series of synthetic tokens for popular stocks — but current gas prices...

YouTuber claims he’ll buy 111 Tesla Model 3s… if Elon Musk accepts Bitcoin Cash

YouTuber claims he’ll buy 111 Tesla Model 3s… if Elon Musk accepts Bitcoin Cash

by The Crypto Scout
April 23, 2021
0

A Bitcoin Cash (BCH) YouTuber has promised to buy 111 Tesla Model 3s … but only if Tesla CEO...

Mastercard NFTs will help consumers offset carbon ‘down to a cup of coffee’

Mastercard NFTs will help consumers offset carbon ‘down to a cup of coffee’

by The Crypto Scout
April 23, 2021
0

Leading payment technology provider Mastercard will help consumers directly offset carbon emissions and choose better products for the environment...

Data shows traders rushed to buy altcoins during Bitcoin’s dip to $50K

Data shows traders rushed to buy altcoins during Bitcoin’s dip to $50K

by The Crypto Scout
April 23, 2021
0

Bitcoin’s (BTC) recent downturn temporarily pulled its dominance rate down to 49.5% which is the lowest level since August...

DogeMania, ‘Dog-Coin’ trademark dogfight, hashrate outage, government warms up to crypto

DogeMania, ‘Dog-Coin’ trademark dogfight, hashrate outage, government warms up to crypto

by The Crypto Scout
April 23, 2021
0

The big news this week happened on April 16th, when a major power outage in Xinjiang wreaked havoc on...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
A Fund Manager Just Bashed XRP, Bitcoin Cash, and Other Altcoins

A Fund Manager Just Bashed XRP, Bitcoin Cash, and Other Altcoins

October 21, 2020
What We’re Getting Wrong About Druckenmiller and Bitcoin

What We’re Getting Wrong About Druckenmiller and Bitcoin

November 15, 2020
Closing Time for Bitcoin’s Iconic Room 77 – ‘And That’s OK,’ Says Owner

Closing Time for Bitcoin’s Iconic Room 77 – ‘And That’s OK,’ Says Owner

October 20, 2020
3 Reasons Why XRP is Unlikely to Benefit From Ongoing Altcoin Surge

3 Reasons Why XRP is Unlikely to Benefit From Ongoing Altcoin Surge

October 22, 2020
Here’s why Bitcoin will boom in the “biggest overhaul” of finance

Here’s why Bitcoin will boom in the “biggest overhaul” of finance

0
Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

0
Closing Time for Bitcoin’s Iconic Room 77 – ‘And That’s OK,’ Says Owner

Closing Time for Bitcoin’s Iconic Room 77 – ‘And That’s OK,’ Says Owner

0
India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses

India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses

0
Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

April 23, 2021
YouTuber claims he’ll buy 111 Tesla Model 3s… if Elon Musk accepts Bitcoin Cash

YouTuber claims he’ll buy 111 Tesla Model 3s… if Elon Musk accepts Bitcoin Cash

April 23, 2021
Mastercard NFTs will help consumers offset carbon ‘down to a cup of coffee’

Mastercard NFTs will help consumers offset carbon ‘down to a cup of coffee’

April 23, 2021
Data shows traders rushed to buy altcoins during Bitcoin’s dip to $50K

Data shows traders rushed to buy altcoins during Bitcoin’s dip to $50K

April 23, 2021

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • ICO
  • Litecoin
  • Market
  • Regulation

Archives

  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptoscout.io

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • ICO

© 2020 cryptoscout.io