Tag Archives: Bitcoin Adoption

The countermeasures attempted by world governments to fight the COVID-19 pandemic will have disastrous consequences on the economy, said Tim Draper. The prominent VC investor outlined that amid this, Bitcoin will flourish as people will utilize its decentralized nature.Simply Printing Money Doesn’t WorkThe sudden outbreak of the coronavirus pushed world leaders to take drastic measures to fights the spread. Entire countries initiated full lockdowns, businesses closed down, the economies...

Cryptocurrency mining is one of the ways to start stacking digital assets, and it appears that the tech giant Microsoft has come up with a new idea. The company has filed a patent application for an innovative system to mine cryptocurrencies.Microsoft And Cryptocurrency MiningOne of the leading technology companies in the world, Microsoft, is seeking patent protection from the World Intellectual Property Organization (WIPO). According to the application, sensors could detect certain...

South Korea’s largest bank, KB Kookmin Bank, is expected to launch a cryptocurrency custody service shortly. The entity has filed a trademark application for KBDAC – KB Digital Asset Custody back in January for various services, including investment, and digital asset trading.KBDAC Launching Soon?A local report from today informed that the giant South Korean bank has applied for the patent at the end of January this year with the Korean Intellectual Property Office. According to the latter,...

The leading cryptocurrency exchange by volume, Binance, will soon release a cryptocurrency debit card. Dubbed Binance Card, it will allow users to fund it via a designated app and make payments to over 46 million merchants with Bitcoin and BNB.Binance Card To Launch SoonThe popular cryptocurrency exchange announced its newest product earlier today. Binance Card’s mission will be to eliminate the necessity to convert digital assets into fiat to make simple payments:“No longer will you need to...

The latest Bitcoin adoption news came from one of the oldest Italian banks – Banca Sella. The bank launched a Bitcoin trading service conducted on its platform called Hype. The beta testing should be done within the next few days, and the service will be online for all customers.Bitcoin Trading Available to 1.2M ItaliansFounded in 1886, Banca Sella is among the well-known banking institutions in Italy. Its Hype platform, which now includes a Bitcoin trading service, already operates with over...

While the US stock market saw its steepest one-day sell-off since Black Monday in 1987, Bitcoin saw its steepest one-day sell-off in its ten-year history, just a few days before.But don’t worry, that was institutional money running from everything Thursday. Of course, it ran from the risky cryptocurrency industry. Don’t forget that institutional investors getting into Bitcoin was a massive driver of its price growth over 2019. So Bitcoin just lost a bunch of people who don’t believe in it–...

Along with every other financial instrument led by the global stock markets, Bitcoin plummeted in the past two weeks following the worldwide spread of the coronavirus.Following their desire to see Bitcoin emerging as the next generation’s safe-haven asset, this latest severe Bitcoin plunge felt like a nightmare for many Bitcoiners.The following article will try to examine what led to the massive sell-off and will end in a little hope that Bitcoin might not have said its final word yet...

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,...