Tokenization offers professional athletes a vehicle to grow their earnings and not risk blowing it all on useless junk. | Image: Shutterstock On September 13th, CCN reported that Brooklyn Nets point guard Spencer Dinwiddie plans to convert his $34 million contract into digital tokens. The move allows the NBA player to receive a lump sum payment as investors purchase...
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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....
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Think Bitcoin's ready for prime-time trading on a major stock exchange? SEC Chairman Jay Clayton says you're "sorely mistaken." | Source: REUTERS / Aaron P. Bernstein U.S. Securities and Exchange Chairman Jay Clayton just delivered a rebuke to cryptocurrency backers, alleging that Bitcoin is unlikely to trade on a major US exchange until it's much better regulated....
Read More »Facebook sat down with the United Kingdom's finance ministry, the central bank, and other regulatory officials in what was presumably a pre-emptive move to win favor before announcing its own self-titled cryptocurrency, Libra. This new revelation comes from Reuters, which received the details from freedom of information requests and claims that the responses illustrate an intentional effort to garner support for Libra before its unveiling in mid-June. The social media behemoth reportedly sat...
Read More »In a move that wasn't entirely unexpected, the Bitcoin price has plunged below $10,000 in a breakdown that started around 1 PM UTC this morning. The quick dump liquidated approximately $150 million in long positions on BitMEX. Everyone's Bitcoin Price Triangle To say that this morning's dump was not unexpected is to understate the current situation. Nearly every technical analyst with a TradingView account has drawn the same (or similar) descending triangle as the one reproduced below....
Read More »In the world of cryptocurrency and bitcoins, which I consider to be a bubble worse than the Dutch tulip craze of the 1600s, there could only be one thing worse. That would be saying something because as I've argued repeatedly here at CCN, bitcoin is vapor. There is nothing to back it, it isn't money, there is no rhyme or reason for the price that it trades at in the market, and is nothing more than gambling in a casino that has worse odds than Las Vegas. While supporters of bitcoin scream...
Read More »Alternative coins or altcoins have been slowly bleeding over the last two years. This is especially true for altcoins in their bitcoin (BTC) pairs. Many are down by over 90% from their all-time highs. Some mid-cap coins have even breached their historical support levels and are printing fresh lows on an almost daily basis. The drop was so deep that some retail traders had to cut their losses after months of HODLing. OrangeDog Tweet. | Source: TwitterFor experienced traders,...
Read More »The results of a cryptocurrency survey conducted by the Dutch banking group, ING, revealed a significant lack of appetite for Facebook's Libra, and its designated use case: Sending payments across social media. Taking 15,000 Europeans, from 15 distinct countries, the survey collated Europe's sentiment around digital currencies. Questions ranged from the future of cryptocurrencies to whether or not respondents would go swap cryptos out in lieu of cash. Want Some Libra?...
Read More »U.S. President Donald Trump has previously spoken out against Bitcoin but he probably would never have imagined that his own justice department would unwittingly get involved in promoting the cryptocurrency. But they are, according to the American whistleblower hiding in Russia, Edward Snowden. Trump wants to seize Snowden’s money Specifically, the U.S. Attorney’s Office for the Eastern District of Virginia and the Department of Justice’s Civil Division has filed a lawsuit...
Read More »Governments around the world went on high alert after American social media giant Facebook announced a permissioned blockchain digital currency, named Libra. Unsurprisingly, the prospect of a privately-backed alternative digital currency didn't exactly excite financial regulators in North America, Europe, and Asia. Here are the four countries that really don't like Facebook's Libra. France Is Not a Fan of Libra France has, perhaps, been the most vocal opponent of Facebook's...
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