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Stop Using Kobe Bryant’s Death to Promote Your Dying Cryptocurrency

January 27, 2020

Cryptocurrency project Tron and founder Justin Sun co-opts Kobe Bryant’s death to promote an upcoming blockchain conference.
It’s the low point in a long string of disingenuous marketing ploys from Sun.
Tron cryptocurrency has lost 91% of its value since highs in 2017.
Cryptocurrency company Tron and its founder Justin Sun just found a new low: co-opting the tragic death of Kobe Bryant to promote their project and conference.
In poor taste, the Tron Foundation Twitter account proclaimed Bryant a “member of the TRON family.” While Justin Sun himself dressed up a “Tron souvenir” with a Lakers jersey. Both Sun and the foundation used the memorial to promote their upcoming niTron Summit.
Justin Sun has a long history of capitalizing on every possible marketing

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Ronaldo’s Juventus Scores the World’s Most Pointless Blockchain Use-Case

December 3, 2019

Blockchain company Socios has partnered with football club Juventus to launch a $JUV token.Fans can buy the token and use it to vote on which song the club will play in the Allianz stadium.Yet another example of a project that doesn’t need a blockchain or a token.File this under: things that absolutely don’t need a blockchain. Juventus fans can now vote on which song will be played at the Allianz stadium when Ronaldo or Dybala score. The catch? You need to buy $JUV tokens through the blockchain platform Socios to do it.I wonder if they… thought of doing a Twitter poll instead?The first @Juventusfc poll is here.After 8 years of celebrating goals to the beat of "Chelsea Dagger" it’s time for a new goal celebration song at the Allianz Stadium.Visit https://t.co/jcqfIFKnFi , listen to the

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Bitcoin Price Could Hit $1 Million on February 1st 2028, New Model Suggests

November 19, 2019

If bitcoin follows historical trends, it could tip $1 million by February 1st 2028. Based on extrapolating Timothy Peterson’s ‘never look back’ chart which tracks bitcoin’s lower troughs. The chart echoes Plan B’s ‘stock to flow’ model which puts BTC at $1 million near the end of the next decade. Plenty of analysts have predicted a million-dollar bitcoin. But few have targeted such a specific date. By analyzing historical bitcoin price action, however, it’s estimated that BTC could hit $1 million on precisely February 1st, 2018. The million-dollar target has been extrapolated from Timothy Peterson’s ‘Never Look Back’ analysis. Peterson explains that bitcoin maintains an ever-growing ‘Never Look Back’ price. In other words, a price floor that is never breached as adoption grows. You can

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Zuckerberg was Right. China ‘Fast-Tracks’ Cryptocurrency With Huawei, Tencent

November 6, 2019

The People’s Bank of China signed a partnership with Huawei, reportedly to develop blockchain technology for China’s sovereign digital currency. It comes just a week after Xi Jinping pledged that China would “take the leading position” in blockchain. Zuckerberg’s ominous warning – that China could erode America’s “financial leadership” – is slowly materializing. Last month Facebook CEO Mark Zuckerberg appeared before Congress and delivered a warning to lawmakers: get behind digital currency Libra or risk losing “financial leadership” to China. It seems his ominous prediction is coming true. In the weeks since, Chinese president Xi Jinping urged China to establish leadership in blockchain technology. Now, the People’s Bank of China has rapidly accelerated its plans for a sovereign digital

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Richest Crypto Billionaire Gets Forced Out of His Own Company in China

October 29, 2019

Bitmain co-founder Micree Zhan was reportedly ousted from the company on Tuesday.
Zhan is the wealthiest cryptocurrency billionaire according to the Hurun rich list.
Traders are now worried Zhan could dump 1.6 million bitcoin cash in retaliation.
Bitmain co-founder and executive director Micree Ketuan Zhan has reportedly been forced out of the company in a bitter clash with business partner Jihan Wu.
In a statement issued to Chinese media, Bitmain confirmed that Wu would take control:

“We believe under the leadership of Jihan, Bitmain will be back to its original mission statement, focus on core competence, expand business organically and orderly. Will become a world-class tech company”

Zhan, who was listed as the wealthiest cryptocurrency billionaire by Hurun, was the largest

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Justin Sun’s Hype-Train Trumpets ‘$100 Billion Mega Corp’ Tron Partner

October 28, 2019

Blockchain company Tron is expected to reveal a partnership with a US “mega corporation” this week.
Founder Justin Sun tweeted the announcement last week, hyping Tron, BitTorrent and Wink.
Sun is prone to over-the-top announcements that often fail to materialize, like the infamous canceled lunch with Warren Buffett.
Blockchain company Tron will reveal a partnership with a US “mega corporation” this week, according to founder Justin Sun.
In typical over-the-top fashion, Sun teased the details last week, suggesting the deal would benefit Tron’s native cryptocurrency TRX. However, those in the crypto-sphere will take Sun’s tweet with a pinch of salt. Sun is no stranger to hyperbole and hype, with his claims often falling flat.

“Tron will partner with a hundred billion dollar USD

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Zuckerberg Spins Congress: Back Facebook Cryptocurrency or Let China Win

October 23, 2019

Mark Zuckerberg will appear before Congress on Wednesday to defend Facebook’s controversial ‘cryptocurrency’ project, Libra.
In his prepared remarks, the Facebook CEO will tell lawmakers that America risks losing “financial leadership” to China if they don’t get behind his company’s plan. Referring to China’s proposed digital currency, which is expected to launch before the end of the year, Zuckerberg will argue:

“While we debate these issues, the rest of the world isn’t waiting. China is moving quickly to launch similar ideas in the coming months… If America doesn’t innovate, our financial leadership is not guaranteed.”

Congress: prefer a digital dollar to Facebook Libra?
Zuckerberg is expected to face heavy pushback against his cryptocurrency plan in Congress today.

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How a Crypto Startup Escaped With a Comical Fine After Illegal $4 Billion ICO

October 1, 2019

Block.one – the company behind cryptocurrency EOS – was slapped with a $24 million fine this week, pertaining to its initial coin offering (ICO) back in 2017. That might sound harsh, but it’s a tiny penalty. A drop in the ocean compared to the record-breaking $4.1 billion the company (reportedly) raised in its initial coin offering (ICO). To be specific, it’s just 0.58% of the total amount raised – a slap on the wrist for violating US securities law. It’s an arbitrary and dangerous precedent from the Securities and Exchange Commission (SEC) and risks triggering another wave of scammy ICOs. It also proves the SEC still has little clue on how to regulate cryptocurrencies. For the background on this, read CCN’s initial coverage of the fine. Opening the floodgates for the next ICO wave?

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Mark Cuban’s Bizarre Bitcoin Rant Includes Baseball Cards and Bananas

September 30, 2019

Tech billionaire and Shark Tank personality Mark Cuban launched a savage takedown of bitcoin in a Wired video this weekend. He reeled off a list of well-trodden criticisms of the cryptocurrency, comparing it to baseball cards and slamming its ‘lack of intrinsic value.’ In a truly bizarre statement, he said he’d rather own bananas than bitcoin. Last time I checked, bananas weren’t the best-performing asset of the decade. Billionaire Mark Cuban: Bitcoin has ‘no intrinsic value’ Cuban began his remarks by comparing bitcoin to baseball cards. “Here’s the thing about crypto, particularly bitcoin. Bitcoin is worth what someone will pay for it. Did you ever see someone collect baseball cards? And they were really, really, really proud of their baseball cards because they kept on saying they

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Here’s Why Bitcoin Price [Probably] Won’t Hit All-Time High Before May 2020

September 26, 2019

Anyone expecting a new record high bitcoin price by the end of the year is likely to be disappointed.Based on the previous cycles of BTC price activity, we probably won’t see bitcoin smash back through $20,000 before at least May 2020. The reason is simple:Bitcoin has never recaptured an all-time high before a halving eventLook at the Coin Metrics chart below, marked with the halving every four years, edited by CCN to mark the price at each event. In the last two cycles, BTC has failed to recapture its previous high before the halving. In previous cycles, bitcoin has never recaptured its previous high before a halving event. Instead, it carves out a new high about 18 months later. Source: CoinMetrics, edited by CCN.Rather, bitcoin tends to break its previous high in the twelve months

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Central Bankers Remarkably at Odds Over Dollar & the Crypto Threat

September 26, 2019

Sometimes it’s good to remind ourselves how far crypto has come. Central bankers are now being forced to publicly defend the dollar as the global reserve currency against the rise of cryptocurrency.Fed official defends the dollar from Carney’s crypto threatLast month, Bank of England Governor Mark Carney argued the case for a Libra-esque cryptocurrency to replace the dollar as the world’s reserve currency.His words triggered former Federal Reserve official Simon Potter, who was forced to defend the dollar’s role on the global economic arena:“I see no argument that makes sense to have something that complicated out there when you have large, liquid capital markets in the US… Not having one currency that you can basically price things and have a deep market in, that makes life much harder

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Bitcoin ‘Fear Gauge’ Screams Red as BTC Flatlines Below $8,500

September 25, 2019

The bitcoin price collapsed in the last 24 hours, shedding $1,500 in a dramatic selloff. The plunge hit altcoins even harder, wiping a total $38 billion off the cryptocurrency market capitalization. As panic spreads across the market, a little-known trading indicator called the ‘fear and greed index’ flashed red. At a reading of 15, it indicates ‘extreme fear’ in the cryptocurrency market – the lowest in more than a month. But to some investors, this signal might indicate a buying opportunity. The bitcoin fear and greed index plunged to 15, indicating ‘extreme fear’ in the market. Source: Alternative.meBitcoin market: ‘extreme fear’ The bitcoin fear gauge is by no means a perfect measure of the market, nor should it be used as a sole trading indicator. But it does help capture the

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Bitcoin Dumps Below $10,000 Despite Game-Changing Bakkt Launch

September 23, 2019

The bitcoin price crashed back below $10,000 on Monday despite the much-hyped launch of Bakkt – an institutional-grade BTC futures trading platform. Bakkt opened its doors for business on Sunday night but any hopes for fireworks were quickly dampened. The platform, operated by the New York Stock Exchange parent company, Intercontinental Exchange, opened to a muted response and a trickle of volume. Bakkt: “a trickle and then a flood” for bitcoin As Three Arrows Capital CEO Su Zhu explained, any hopes for an explosive price run were unrealistic. Slow adoption is to be expected in the short-term. “Bakkt will be likely first a trickle and then a flood. The reality is that most regulated futures contracts get low adoption on day1 simply because not all futures brokers are ready to clear it,

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Warren Buffett has Enough Spare Cash to Buy Two-Thirds of All Existing Bitcoin

September 19, 2019

Berkshire Hathaway Chairman and legendary investor Warren Buffett could load up on a tidy sum of bitcoins. | Source: REUTERS/Scott Morgan

Warren Buffett isn’t much of a bitcoin fan. He’s called it rat poison squared, a gambling device, delusional, and a seashell with no inherent value.
But, if he wanted to, he could become the biggest bitcoin whale of them all. Buffett could buy two-thirds of the existing BTC supply… in cash.
Warren Buffett’s investment firm Berkshire Hathaway reported a record $122 billion cash pile in a recent filing. That’s about two-thirds of bitcoin’s current market capitalization of $177.6 billion.
Sidenote: obviously, this isn’t actually

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Strongest-Ever Bitcoin Price Streak Hits Record 81 Days Above $9,000

September 5, 2019

In a sign of its growing maturity, bitcoin is nearing a 3-month period with a bottom at $9000. | Source: ShutterstockThe bitcoin price has held above $9,000 for a record 81 days, a feat it couldn’t manage even during the monster bull run of 2017. Although BTC remains around 50% below its all-time high, the price is arguably stronger and more resilient than ever as it consolidates around $10,000.The bitcoin price has held above $9,000 for 81 days, longer than the epic bitcoin ‘bubble’ of 2017. Source: CoinMarketCap / CCNAs bitcoin trader, known as Mr Anderson, pointed out, holding above $9,000 for this long shows a maturing market forming a strong foundation.$BTC Stability?A more mature $BTC is showing better resiliency on this most recent price discovery attemptBTC has spent 79 days above

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Samsung’s Crypto-Charged Note 10 Flagship Obliterates Apple’s iPhone

September 5, 2019

Samsung’s flagship Note 10 is getting a special crypto edition in South Korea. | Source: REUTERS/Toby MelvilleSamsung launched the KlaytnPhone in South Korea on Thursday, a spinoff of the Galaxy Note 10 equipped with blockchain apps and a cryptocurrency wallet.It furthers Samsung’s position as the most crypto-friendly smartphone maker, putting it lightyears ahead of rival Apple. Thus far, the company has added blockchain support in a variety of models, integrated cryptocurrency payments into Samsung Pay, and invested in hardware wallet provider Ledger.Samsung KlaytnPhone: the blockchain smartphoneThe KlaytnPhone takes its name from a South Korean blockchain platform, and the phone will come with “Klay” cryptocurrency installed. Users will also have access to blockchain apps, known as

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3 Charts Reveal Perfect Storm for Thunderous Bitcoin Rally

September 4, 2019

Bitcoin has had a volatile year and the clouds are gathering for stormy end to 2019. | Source: ShutterstockToo many people focus on bitcoin’s wild highs and fluctuating daily price. A better metric to look at is the monthly low points.By tracking the lows, you see the steady accumulation of bitcoin. This is the foundation of the market and it’s getting stronger.The chart below tracks the bitcoin price, overlayed with a red line marking the monthly low point. It’s a steady, upward curve of monster accumulation.  Ignore the volatile tops and bitcoin is carving out a strong, steady trend with its monthly lows. Source: Yahoo Finance / CCNBitcoin monthly lows indicate strong bull marketAs bitcoin investor Misir Mahmudov explains, this gradual curve indicates a stable, growing foundation for

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This Chart Perfectly Shows Bitcoin’s Brutal Dominance over Altcoins

August 14, 2019

By CCN.com: Bitcoin raged back into a bull market in 2019, leaving the rest of the cryptocurrency market in the dust. 
While bitcoin is up 178 percent this year alone, Ripple (XRP) and Stellar (XLM), are down more than 15 percent. Despite desperate hopes of an ‘altseason’ surge, most altcoins remain stagnant while bitcoin’s dominance has gone from strength to strength, currently sitting at 71 percent according to Messari.
One chart, created by on-chain analyst Willy Woo, perfectly captures bitcoin’s brutal dominance over the last seven months. It’s almost artistic, like a Jackson Pollock painting.

"Shit runs downhill", 2019 bull season edition.
This is the performance of the the top 200 coins measured in satoshi value (performance against BTC).
Note alts got particularly rekted after

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This Ultra Rare Pokemon Card Is Now Worth More Than a Bitcoin

August 13, 2019

A complete set of first edition Pokemon cards from 1999 just sold at auction for $107,010. 
Among the set, as any avid Pokemon fan from the ‘90s will remember, is a shiny Charizard – the most coveted card. At this valuation, the first-edition Charizard alone is worth $20,000, more than a bitcoin.

This complete set of first-edition Pokémon cards sold at auction for more than $107,000.
? @GoldinAuctions pic.twitter.com/uAgxkRwq1H
— Bloomberg Quicktake (@Quicktake) August 12, 2019

First-edition Pokemon card collection: $107k
The bidding began at $25,000 and ramped up to over $100k with 12 interested parties. But what makes this collection so special?
Well, it’s a first edition. And the first-edition Pokemon collection is incredibly rare. Only a small run was printed before changes were

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No, Argentina Is Not Flocking to Bitcoin in Crisis, says Macro Trader

August 13, 2019

Crisis in Argentina grips the headlines today. The Argentine peso (ARS) collapsed 30 percent in a matter of minutes yesterday while the stock market caved 48 percent before recovering.
Bitcoiners quickly jumped on the narrative to promote the world’s dominant cryptocurrency. Many claimed that bitcoin was “surging” in Argentina while others encouraged locals to “find safety” in bitcoin.

Bitcoin is surging in Argentina, trading at ~$12,300 on @buenbit, a premium versus ~$11,400 on Coinbase, where it’s having a relatively quiet day. There’s a bloodbath in argie markets today after Macri lost in a primary vote and people fear the return of populism. (1/2) pic.twitter.com/EJdqATZn8L
— Camila Russo (@CamiRusso) August 12, 2019

But the narrative was quickly slammed with hard reality and

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Bitcoin Hater Peter Schiff: ‘I Made a Mistake’ Not Buying Bitcoin at $10

August 1, 2019

Ben Brown Ben is a journalist with a decade of experience covering financial markets. Based in London, UK, his writing has appeared in The Huffington Post and he was Chief Editor at Block Explorer, the world’s longest-running source of Blockchain data. Reach him at benjamin-brown.uk, Twitter at _Ben_Brown or MuckRack. Email ben @ benjamin-brown.uk.

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US Senator: Even If We Wanted To, We Couldn’t Ban Bitcoin

July 31, 2019

U.S. Senator Mike Crapo (R-Idaho) admitted that it would be difficult or impossible to ban bitcoin in the United States. The Senator offered a number of positive comments on bitcoin as he chaired the Senate Committee on Banking, Housing and Urban Affairs cryptocurrency hearing yesterday.“If the United States were to decide, and I’m not saying it should, if the United States decided we didn’t want cryptocurrency to happen in the United States, and tried to ban it, I’m pretty confident we couldn’t succeed in doing that because this is a global tech, a global innovation.”[embedded content]His comments echo Rep. Patrick McHenry who said earlier this month that “there’s no capacity to kill bitcoin.”Members of Congress are increasingly warming up to bitcoin and beginning to comprehend its

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