Tag Archives: Bitcoin Adoption

On the same day that Wall Street took its hardest plunge since the 1987 Black Monday crash, Bitcoin’s price cratered from a touch under $8,000 per 1 bitcoin to the $3,700 handle within 24 hours. This is calling into question the entire thesis of Bitcoin as an uncorrelated asset.Here’s why it shouldn’t.Bitcoin Market Cap Is Too Small to CorrelateWhile Bitcoin has an impressive market cap for “fake Internet nerd money,” it is too small to possibly be correlated with markets.People don’t seem to...

PayPal CTO, Sri Shivananda, believes that cryptocurrencies still have a long way to go in terms of mass adoption. While endorsing India’s digital asset ban removal, he noted that most consumers view them as assets instead of applicable currencies for actual payments.Crypto Needs More Use-CasesSri Shivananda, the CTO of PayPal – one of the world’s largest online payment companies – recently spoke at the recent Economic Times Global Business Summit. Amongst other financial topics, he also...

A recent report indicated that one transaction involving the largest cryptocurrency uses the same amount of electricity as a British household for nearly two months.98% Of Mining Rigs Never AchieveEssentially, Bitcoin mining is the process of creating new coins and confirming initiated transactions. It’s executed by “miners,” who are solving complicated equations. On average, every 10 minutes, a new block is added to the giant distributed public ledger of already existing transactions,...

Bitcoin recognition continues – This time from the French Commercial Court of Nanterre. Having to establish its role during a lawsuit, the Court ruled that the largest cryptocurrency is a “fungible intangible asset,” similar to fiat money.Bitcoin Is MoneyBack in 2014, Paymium, a French exchange platform loaned 1,000 Bitcoins (worth $9.1 million at the time of this writing) to an English alternative investment company BitSpread.However, after the August 2017 Bitcoin fork that eventually...

Blockchain and cryptocurrencies expanded their presence and usage in 2019, says JP Morgan. The giant American multinational investment bank filed a comprehensive report regarding the performance of the technology and digital assets in 2019.Bitcoin AdoptionTwo years after the bank’s CEO, Jamie Dimon regretted calling Bitcoin a “fraud,” JPM issued a 74-page document that involves the largest cryptocurrency. Among the discussed topics, the report outlines Bitcoin’s developments in terms of...

The U.S. state of Wyoming is leading the way in blockchain and cryptocurrency adoption in the country with a new cryptocurrency-native bank. A former Wall Street veteran, Caitlin Long, announced the Avanti Bank, saying that it will be active in early 2021.The First U.S. Crypto-Friendly BankLong, who previously helped the state of Wyoming to implement 13 blockchain laws, made the announcement yesterday. In a series of tweets, she introduced the Avanti Bank – “a new U.S. bank to serve [the]...

Since the new decade had started, Bitcoin is showing bullishness. The cryptocurrency started 2020 below $6800 and skyrocketed to $10,500 just days ago.However, Bitcoin gave us another reminder of its cruel volatility. After reaching almost $10,300 as of yesterday’s high, just as Europeans went to sleep, Bitcoin started its show. In a little more than 50 minutes, Bitcoin dropped to as low as $9,264 on BitMEX. The mega-dip was concentrated into five devastating minutes, during which Bitcoin...

For more than a decade, there has been one major issue thwarting the adoption of cryptocurrency: transactions simply take too long. Fortunately, researchers at MIT have now announced that they have developed a more efficient system for routing cryptocurrency transactions, which they have dubbed “Spider.”According to ComputerWorld, MIT researchers are able to use this “Spider” routing scheme to make crypto transactions up to four-times faster than ever before (!).Four-Times Faster Crypto...

The creation of a Bitcoin Emoji on Twitter today has increased the largest cryptocurrency’s social media awareness. The social media’s CEO, Jack Dorsey, and other influential community members are also sharing the “#Bitcoin” trend that has ultimately transcended the online space.Bitcoin Emoji Inspires Bitcoin HashtagEarlier today, the popular social media platform, Twitter, introduced a new Bitcoin emoji. Naturally, the whole cryptocurrency community reacted with overexcitement by sharing the...

After last week’s rally, it now seems that Bitcoin is hitting the headlines once again. American venture capital investor, Tim Draper, has recently spoken out about Bitcoin, suggesting that millennials need to invest in Bitcoin if they want to secure their financial future. On Wednesday, January 22nd, 2020, Draper spoke to Liz Claman during an interview. While the discussion touched on other topics, such as Elon Musk and SpaceX, it ended with some sound advice coming from one of the world’s...