While many alt-coins like BINANCE:BATBTC are roaring at this particular moment, BINANCE:ETHBTC seems to have slowed down some. I've circled several areas on the candle chart in the idea snapshot that shows where ETH bounced from support, with a low Stochastic RSI which swiftly bounced. However, we are coming up against a long downtrend in the market...
I like POW (proof of work) crypto currencies where the system is ruled on the basis of how much computing power you can apply to maintaining the system. I’ve steered clear of Ethereum because it is heading towards POS (proof of stake,) a system where oligarch-sized owners of the coin get to call the shots and likely do what oligarchs do best, poop on the little people and fight to the death amongst themselves. Crypto is politics in software form, so to me the political framework of cryptocurrencies is all important. The POS future for Ethereum is a killer for me long term, but right now it is not that “in the long term we are all dead” that is the key, it is that visibility of the long term itself is all but dead.
ZIMBABWE ACCIDENTALLY LEAVES DOOR OPEN FOR CRYPTO. Here’s a recipe for creating a fertile environment for alternative payment systems: outlaw the system everyone is currently using. When the Zimbabwean government made the nutty step of banning digital payments – used for 85% of transactions by individuals, due to severe shortage of cash – it clearly wasn’t trying to promote bitcoin. In forcing people to go to a local bank to redeem funds locked in popular payments apps such as Ecocash, its goal was to protect the embattled Zimbabwean dollar. In a statement, the Reserve Bank of Zimbabwe, said the move was “necessitated by the need to protect consumers on mobile money platforms which have been abused by unscrupulous and unpatriotic individuals and entities to create instability and inefficiencies in the economy.” The thinking is that Ecocash, which enables currency trading, is making it easier for people to dump the local currency. But here’s the thing: Ecocash, which said it suspended cash-in-cash-out functions (presumably because its banking lines will be cut) is still keeping in-app payment facilities open. And it said nothing about stopping its fairly popular service allowing people to buy cryptocurrency. Not surprisingly, since the ban “demand for bitcoin has skyrocketed,” according to African crypto news site, bitcoinke, with “sources claiming bitcoin is now selling at at 18% premium above the market rate.”
And while Ethereum fans crow about there being 12 times more wrapped bitcoin on their platform than the mere $9 million locked in the Lightning Network’s payment channels, the latter is making inroads in developing nations as a payment network for small, low-cost bitcoin transactions. Unlike WBTC, which requires a professional custodian to hold the original locked bitcoin, Lightning users need not rely on a third party to open up a channel. It’s arguably more decentralized.
OF MONEY AND MYTHS. I’m reading Stephanie Kelton’s book “The Deficit Myth.” In a future edition of Money Reimagined, I’ll have more to say on the most influential modern monetary theory proponent’s explanation of its ideas. But for now I’ll just say that, while I’m not likely to be a convert to all its prescriptions, it seems clear that MMT is widely misunderstood by folks on both the left and the right – also, very much by the crypto industry. The latter is perhaps because people in crypto tend to skew more to the metallist school of money, rather than to chartalism. Either way, a clearer grasp of what MMT is all about would, I believe, help improve the industry’s discussion around government, money, trust and how blockchain-based systems can integrate with the existing one.
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The Ethereum has seen an unexpected growth in the past few years and its development over time is exponential. The invincible Ethereum is not only used as a digital currency like the Bitcoin, but it is used in several blockchain-based applications. So, there are no chances for the Ethereum to fail it’s intended for creation. If you’re looking to make money online, spending the time to earn Ether online is worth. By the time you have an ETH, you can sell it for a few thousand dollars in the future that could help you to fulfill your dreams. In this article, let us see a few ways to earn Ethereum online with and without investment.
Demeester was responding to a tweet by popular trader Peter Brandt, who had commented on an ETH breakout earlier this week, and predicted further altcoin gains against Bitcoin in the near future. This, combined with exploding demand for decentralized finance (DeFi) applications on Ethereum in recent weeks, had given investors cause to be optimistic.
If you have wondered why sites that give away free cryptocurrencies exist at all, here is the answer; Sites and apps that offer you a way to get free Ethereum make their money from advertising, and sometimes by using your CPU to help with their mining activities. They are also introducing you to cryptocurrency, in the hope that you will buy related services from them later.
Interestingly, USD Coin (USDC), the world’s second-largest stablecoin from Coinbase and Circle, was ranked at 1.00 by the Crypto Rating Council (CRC), whose members include Coinbase, Circle, Kraken, Bittrex, Genesis Capital, eToro, OKCoin, Radar, Anchorage, Cumberland, among others). The CRC supports and promotes regulatory clarity in the distributed ledger technology (DLT) space.
As is their wont, each faction described the growth of WBTC tokens, whose value is pegged one-to-one against a locked-up reserve of actual bitcoin, as proof of their coin’s superiority over the other. The Ethereum crowd said it showed that even BTC “hodlers” believe Ethereum-based applications provide a better off-chain transaction experience than platforms built on Bitcoin, such as Lightning or Blockstream’s Liquid. Bitcoiners, by contrast, took it as confirmation that people place greater value in the oldest, most valuable crypto asset, than in Ethereum’s ether token.
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Over the years, the concept of a virtual, decentralized currency has gained acceptance among regulators and government bodies. Although it isn’t a formally recognized medium of payment or store of value, cryptocurrency has managed to carve out a niche for itself and continues to coexist with the financial system despite being regularly scrutinized and debated.
The transaction, which may be viewed via Etherscan, an Ethereum (ETH) blockchain explorer, confirms that a “blacklist(address investor)” function was initiated on June 16, 2020, by 0x5dB0115f3B72d19cEa34dD697cf412Ff86dc7E1b, which is an address that’s controlled by CENTRE, the Coinbase and Circle backed entity responsible for issuing the USDC stablecoin.
Welcome to this analysis of ETH/BTC. ETH/BTC has been in an uptrend since February after breaking out of a 6 months long double bottom reversal pattern. Since then it went sideways and consolidated for a bit more than 3 months, from the 8th of February till the 3rd of Jun. The consolidation looks like a symmetrical triangle pattern which is a continuation patter...
Why the Stock-to-Flow Bitcoin Valuation Model Is Wrong. Maybe you shouldn’t be banking all your finances on a halving-driven appreciation in bitcoin this year. In this op-ed for CoinDesk, contributor Nico Cordeiro picks apart one of the most commonly cited theories for why many people expect bitcoin’s baked-in quadrennial money supply decelerations to boost its price.
Ethereum vs Bitcoin | Explained (For Beginners)