📮 02-11-2019
📈 MarketCap: $252 B
📊 24h Mcap %: 1.14%
⚠️ Bitcoin Dom: 66.9%
Active Coins: 2,459
24h Vol %: -9.26%
24h Vol: $55 B
When Satoshi Nakamoto penned the Bitcoin whitepaper 11 years ago, almost to the day, the goal was clear: Replace the existing centralized financial system with a currency of logic, not power. Now, in regions where fiat is showing signs of weakness, Bitcoin is taking over. Data from LocalBitcoins shows countries that are facing growing volatility are also registering record inflows into BTC, with a surge in their fiat-to-Bitcoin volumes. Three regions, in particular, were cited Venezuela, Hong Kong, and Argentina.
Bitcoin might become “digital gold,” but first it needs to be used more in everyday business, Intercontinental Exchange’s chief executive said. ICE head Jeffrey Sprecher said that he sees use in transactions as the prerequisite to bitcoin becoming a long-term store of value. He said, gold became a store of value because the nature of its ability to spend, Similarly Sprecher believes Bitcoin may follow a similar trajectory, Once merchants and users will accept bitcoin directly.
Max Keiser spills some beans about China's gold-backed cryptocurrency that could pose a serious threat to the US Dollar. According to financial commentator Max Keiser, the US is in danger of falling through a "trap door" that is set by China, whose gold-buying spree recently surpassed 100 tons. In such a metaphoric way, Keiser dropped a bombshell that China's much-talked-about cryptocurrency is going to be pegged to gold during his most recent appearance on Kitco.
Ethereum is partially addressing the many complexities of sharding by simply increasing the blocksize from the equivalent of about 1MB every ten minutes, to circa 8MB. Danny Ryan, the ethereum 2.0 coordinator, publicly said: “We are making the blocks bigger based on recent research on safe block size and propagation times, so the data availability of the system is still > 1MB/s so you can still get similar scalability gains when doing things like ZKrollup and OVM.”
Antpool & BTC.com have lost a bit of their old glory, significantly shrinking the share of Bitcoin block rewards on a daily and weekly basis. The BTC mining pools, headed by Bitmain, are still among the top four miners but have ceded their leadership to F2Pool and Poolin. The lag of the two pools is happening as bitcoin is trading at prices way above breakeven for most Chinese miners. It is hard to determine what happened to the two leading miners.
MoneyGram is planning to expand its partnership with Ripple, using the fintech’s XRP-based cross-border payments solution to enter new corridors by the end of the year. Asheesh Birla, senior vice president of product at Ripple said "In today’s MoneyGram earnings call, CEO Alex Holmes announced plans to expand use of Ripple’s on-demand liquidity to new corridors before EOY. ‘Our partnership with Ripple will be a competitive differentiator in the months and years ahead."
Binance's new U.S. operation continues to hit new highs, and now it is enabling customers to purchase cryptocurrency with debit cards. The San Francisco-based Binance.US announced debit card support on Friday. It will allow clients to buy crypto assets including bitcoin, ethereum, and XRP. Previously, customers could only purchase coins via ACH payments. As per data Binance.US has increased its daily volumes to over $15 million. Binance said that it is aiming to "lower barriers to entry for new and existing users."
According to a new report by Coinbase, Bitcoin (BTC) continues to outperform the world’s most popular stock indexes. Coinbase published its latest report on the day, Bitcoin whitepaper turned 11 years old, claiming that BTC has outperformed tech stocks and the S&P 500 since 2013. Coinbase points out that BTC generated an impressive 132% return this year alone, while, the Nasdaq 100 only generated 17%, the S&P 500 12%, the FTSE Europe 100 11%, while the FTSE ASEAN 40 had to swallow a loss of 3%.
Singapore based crypto exchange Huobi is set to freeze accounts controlled by US residents in an effort to crack down on those individuals violating the User Agreement. This announcement comes after a gradual depreciation of US resident accounts over the past few months and will end with a total freeze of all US accounts on November 13th.Until the 13th of November, users will be able to refund Huobi Point Cards and withdraw any remaining crypto funds from their accounts.
