It’s been a good week for Bitcoin. After around $ 6,700, the cryptocurrency rose more than 6 percent last week to over $ 7,000. And the next halving is now less than three weeks away.
Changpeng Zhao looks beyond. Bitcoin is predicted to rise in a few months if governments take quantitative easing measures to stabilize the coronavirus-affected economies. “Math works,” he said to BlockDown 2020, a two-day virtual conference. “If the supply of fiat currency is increased and bitcoin is a limited good, the math will finally work.” This is good news for crypto services like DigitalMint and LibertyX. They have expanded their spread of Bitcoin ATMs. The movement of digital currencies certainly looks better than that of oil. While the barrel of crude fell into negative territory for the first time, Bitcoin barely moved.
Not all old things that are dug up are useless. A 21-year post on the Cypherpunks mailing list has led to speculation that it was written by a young Satoshi Nakamoto. The post describes a form of electronic money and mentions many of the issues that came with defining Bitcoin.
There may be good news for anyone who has lost money on cryptocurrency trading this year. It’s complicated, but freeing the IRS from the virus could mean that it’s now easier to make up for losses. And the virus could create new opportunities for blockchain at its birthplace. A report on China’s blockchain industry’s response to COVID-19 suggests that monetary policy will drive people towards digital currencies.
In the United States, a federal judge has ordered the arrest of David Schmidt and Robert Dunlap. Schmidt is a former Republican senator in Washington. He and Dunlop are said to have sold Meta-1 tokens, which they claimed to have $ 1 billion in fine arts or $ 2 billion in gold. The Securities Commission has frozen the cryptocurrency’s assets and accused the company’s operators of fraud for lack of tokens. The defendants were charged with fraud along with Nicole Bowdler, who claims to be “an angel from Earth” in contact with the angel Metatron.
The Libra hopes the government will be more lenient with its plans. The association has revised its white paper to meet the needs of US regulators. At least two members of the House Financial Services Committee are not impressed. Outside the United States, Facebook remains optimistic about its digital currency. He is looking for 50 new employees for his 5,000-strong team to work at Calibra.
In Japan, one of the country’s largest advertising companies plans to use blockchain to reward people who comment on manga, although those comments may contain copyrighted material. In Malaysia, police arrested fourteen Chinese men for their involvement in a suspected Bitcoin scam. Men are said to have disguised themselves as wealthy investors.
And finally some good news. The corporate blockchain Hyperledger Fabric brings trust to difficult but important markets such as the aerospace parts. A survey has shown that not all drugs are on crypto markets. 15% of digital spending is on clothing and 14% on food. All clothing shopping must be starving. And Upland players spent $ 1,236 on Level 3 Easter Eggs to raise money to help fight the coronavirus in NYC. Uplandme, Inc. added these costs together to donate $ 2,500 to New York’s COVID-19 Response and Impact Fund.
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