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Topics - MRM

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Ripple News & Updates / XRP Price Gains 6% Following Strong Recovery

« on: October 05, 2020, 08:41:09 PM »

XRP is outperforming the market in the short term, but has struggled against other top ten cryptocurrencies when measured year-to-date (YTD). XRP is currently the best performing top 10 cryptocurrency in the last day, after gaining 6.2% in the last 24 hours.

The price of XRP is now trading at $0.248 — up from $0.234 yesterday and $0.243 this time last week. Overall, the cryptocurrency is now up across all short-term timeframes.
Source: https://decrypt.co/43871/xrp-price-gains-6-following-strong-recovery

Bitcoin News & Updates / This is How Many Big Macs a Single Bitcoin Will Buy You

« on: October 05, 2020, 08:35:00 PM »

The worth of a Bitcoin is dependent on the country you're in. A famous metric serves as a helpful reminder. The Economist left an indelible mark on finance in 1986 when it published a tongue-in-cheek financial measure: the Big Mac Index. Now, that metric has come to Bitcoin.

The metric, claimed The Economist, serves as a helpful benchmark for the worth of currencies around the world, also known as the “purchasing power parity” of a currency, or PPP.
Source: https://decrypt.co/43828/this-is-how-many-big-macs-a-single-bitcoin-will-buy-you

Binance / Binance CEO 'CZ' Zhao: DeFi won’t flip traditional finance any time soon

« on: October 05, 2020, 08:31:27 PM »

But Binance is still doubling down on DeFi as a way to migrate to a fully decentralized exchange. Here's the da bing interview with Changpeng 'CZ' Zhao. It didn’t take long for Changpeng “CZ” Zhao to emerge as DeFi’s newest and probably most powerful cheerleader. As the founder of Binance, one of the largest centralized crypto exchange in the world, CZ’s burgeoning enthusiasm toward DeFi—especially his admission that decentralized exchanges(DEX) will overtake his own centralized exchange—reveals not only his own DeFi obsession, but also his plan to build a DeFi-empire, all within Binance.
Source: https://decrypt.co/43818/binance-ceo-cz-zhao-defi-wont-flip-traditional-finance-any-time-soon

Bitcoin News & Updates / Bitcoin’s Transaction Fees Almost Double Ethereum's After BitMEX Exodus

« on: October 03, 2020, 07:03:40 PM »

An exodus of upward of 40,000 Bitcoin from derivatives exchanges BitMEX might have pushed up Bitcoin’s transaction fees. Meanwhile, Ethereum’s have fallen. WhileBitcoin’s average transaction fees more than doubled in the past week, Ethereum’s are on the decline, according to data from BitInfoCharts. An exodus from a large cryptocurrency exchange accused of money-laundering could be partly responsible.

The average cost of processing a Bitcoin transaction, which must be paid to the miners that process each transaction on the Bitcoin blockchain, is $4. On Sunday, September 27, the same transaction cost an average of $1.5.
Source: https://decrypt.co/43800/bitcoins-transaction-fees-almost-double-ethereums-after-bitmex-exodus

Bitcoin News & Updates / KuCoin Thief Swapped LTC for Bitcoin on CEX: Chainalysis

« on: October 03, 2020, 07:00:53 PM »

At least $13 million from last week's hack has been laundered through decentralized exchanges. But over $9 million has gone to centralized exchanges. A new report from blockchain analysis company Chainalysis sheds light on where the $280 million in coins stolen in the KuCoin hack have gone.

While the hacker has been mostly using decentralized exchanges, namely Uniswap and Kyber, to launder funds, Chainalysis revealed that some of the altcoins stolen were used to purchase Bitcoin on centralized exchanges.
Source: https://decrypt.co/43791/kucoin-thief-swapped-ltc-bitcoin-cex-chainalysis

Ethereum News & Updates / Tezos Makes a Run at DeFi, But Can It Catch Ethereum?

« on: October 03, 2020, 06:21:29 PM »

Tezos, an Ethereum competitor that raised more than $230 million in 2017, has raised new funds to bring DeFi to its native blockchain. DeFi may be dominated by Ethereum, but Tezos is making a play to attract users with lower fees and faster transactions.

Tezos Stable Technologies, a subsidiary of the newly launched Tezos Stablecoin Foundation charged with advancing DeFi development on the Tezos blockchain, closed a successful seed round today, venture capital firm Draper Goren Holm announced. The amount was not disclosed.
Source: https://decrypt.co/43786/tezos-makes-a-run-at-defi-but-can-it-catch-ethereum

Bitcoin News & Updates / $420 Million in Bitcoin Flees BitMEX Following Federal Charges

« on: October 03, 2020, 05:50:12 PM »

Bitcoin continues to flow out of the Seychelles-based cryptocurrency exchange BitMEX as the company vows to vigorously fight allegations of money laundering.
The Bitcoin exodus from BitMEX continued Friday afternoon as traders continued to withdraw funds from the world’s fifth-largest crypto derivatives exchange. The move follows a series of charges laid out against the firm by federal prosecutors in New York.

Updated figures from analytics firm Glassnode shows that traders have withdrawn almost double the amount Decrypt reported earlier this morning, for a total of nearly 40,000 BTC since the case was announced Thursday. That’s around $420 million worth of Bitcoin at today’s prices.
Source: https://decrypt.co/43787/420-million-bitcoin-flees-bitmex-federal-charges

Bitcoin News & Updates / Atari Token Scores Bitcoin.com Public Sale in November

« on: October 03, 2020, 05:44:25 PM »

The Atari Token, designed for use online games, a casino, and betting, will officially launch after $1.5 million in pre-sales. Atari has been reborn as a crypto brand, with an Atari Token designed for use in online games and gambling apps, plus a modern Atari VCS game console releasing in November with some built-in crypto hooks.

November won’t only be the launch window for the game system, but also the public sale of the Ethereum-based ERC20 Atari Token. Yesterday, Atari announced that it has partnered with Bitcoin.com to hold the public sale next month, as well as list the Atari Token.
Source: https://decrypt.co/43744/atari-token-bitcoin-com-public-sale-november

Bitcoin News & Updates / Half a Million in Satoshi-era Bitcoin Just Moved to Bitfinex

« on: October 03, 2020, 05:36:58 PM »

Is this “good for Bitcoin,” or a cultural oddity? Someone just moved 50 Satoshi-era Bitcoins, today worth $527,120, to the hot wallet of cryptocurrency exchange Bitfinex.

The 50 Bitcoin was mined back in May 2010, when Bitcoin was around one-and-a-half years old. The owner has held onto those coins ever since and waited until last night to move them to the cryptocurrency exchange. The move was picked up by BTCparser, a Telegram bot that trawls through Bitcoin transactions.
Source: https://decrypt.co/43777/half-million-satoshi-era-bitcoin-just-moved-bitfinex

Ethereum News & Updates / Vitalik Buterin: Ethereum's 'Nearly Unusable' for Many App Types

« on: October 03, 2020, 05:26:02 PM »

In its current state Ethereum is practically useless for many types of apps, says Ethereum co-founder Vitalik Buterin.
Co-founder Vitalik Buterin wrote today that Ethereum is "nearly unusable" for many types of applications. And, judging by the Ethereum 2.0 roadmap, this could be the case for many years to come.

"The L1 is nearly unusable for many classes of applications, and there’s no non-L2 path that can get us to scalability in the short-to-medium term," Buterin wrote in an Ethereum developer thread earlier today.
Source: https://decrypt.co/43763/vitalik-buterin-ethereums-nearly-unusable-for-many-app-types

Ethereum News & Updates / Ethereum Dapp Volumes Hit $120 Billion in Third Quarter

« on: October 03, 2020, 05:16:27 PM »

Ethereum’s decentralized finance (DeFi) applications amounted to 99% of the blockchain’s transaction volume in Q3 2020. Transaction volume on the Ethereum blockchain reached $119.5 billion in Q3 2020, surging by nearly 1,200% compared to the previous quarter, according to DappRadar’s industry report published today.
Source: https://decrypt.co/43736/ethereum-dapp-volumes-hit-120-billion-in-third-quarter

Coinbase / Coinbase Adds Support for Instant Withdrawals for US, European Users

« on: October 03, 2020, 04:54:23 PM »

Coinbase has hastened its withdrawal times for EU, UK and US customers. San Francisco-based cryptocurrency exchange Coinbase today announced that it has added support for instant withdrawals in nearly 40 countries, including the US, the UK, and many in Europe.

The issue it claims to solve is that, heretofore today's announcement, withdrawals on Coinbase can take several days. Now they are, as the title suggests, more or less instant.
Source: https://decrypt.co/43748/coinbase-instant-withdrawals

Bitcoin News & Updates / The Truth About Bitcoin: People Aren't Using It As Currency

« on: October 03, 2020, 04:30:28 PM »

Bitcoin was meant to serve as digital cash—yet it’s rarely used as a means of payment, with most holding the cryptocurrency for speculative purposes. Bitcoin is the largest cryptocurrency by market cap. And from its inception, it’s been heralded as a form of digital cash; the replacement to the US dollar, the Chinese yuan and the British pound. Indeed, the original Bitcoin whitepaper by Satoshi Nakamoto describes it as a “peer-to-peer electronic cash system.”

But over a decade after its launch, the promise that shoppers would be happily using their Bitcoin addresses for payments in stores rings hollow.
Source: https://decrypt.co/43715/the-truth-about-bitcoin-people-arent-using-it-as-currency

Coinbase / Coinbase UK to Disclose Wave of Cryptocurrency Owners to HMRC

« on: October 03, 2020, 04:19:00 PM »

Crypto exchange Coinbase will be passing over details of some of its customers to the UK's tax authority. But it will be fewer than HMRC wanted. Coinbase owners in the UK who have received more than £5,000 ($6,474) in cryptocurrency will have their details passed to the UK's tax authority HMRC, according to an email from Coinbase seen by Decrypt.

The email said that HMRC originally required Coinbase to provide certain records of its UK customers, between 2017 and 2019. However, after discussions with the tax authority, the notice was revised so that it only affects users that meet some minimum requirements.
Source: https://decrypt.co/43716/coinbase-uk-to-disclose-wave-of-cryptocurrency-owners-to-hmrc

Bitcoin News & Updates / Former British MEP Makes First Bitcoin Purchase

« on: October 03, 2020, 04:13:50 PM »

Bitcoin’s latest high-profile convert is a 70-year-old former British MEP who called for the arrest of central bankers in 2013. Former British politician Godfrey Bloom made his first Bitcoin purchase this week, according to a tweet Thursday. The move comes years after Bloom famously called the global banking industry “a scam.”

Bloom, who served as a Member of the European Parliament for Yorkshire and the Humber from 2004 to 2014, said on Twitter, “I make my first purchases of Bitcoin this week. Gold & silver have I plenty.”
Source: https://decrypt.co/43684/former-british-mep-makes-first-bitcoin-puchase