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.”
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...
Ether and bitcoin are similar in many ways: each is a digital currency traded via online exchanges and stored in various types of cryptocurrency wallets. Both of these tokens are decentralized, meaning that they are not issued or regulated by a central bank or other authority. Both make use of the distributed ledger technology known as blockchain. However, there are also many crucial distinctions between the two most popular cryptocurrencies by market cap. Below, we'll take a closer look at the similarities and differences between bitcoin and ether.
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Ethereum Vs. Bitcoin: What Sets Them Apart? | CNBC
Ethereum is another use-case for a blockchain that supports the Bitcoin network, and theoretically should not really compete with Bitcoin. However, the popularity of ether has pushed it into competition with all cryptocurrencies, especially from the perspective of traders. For most of its history since the mid-2015 launch, ether has been close behind bitcoin on rankings of the top cryptocurrencies by market cap. That being said, it's important to keep in mind that the ether ecosystem is much smaller than bitcoin's: as of January 2020, ether's market cap was just under $16 billion, while bitcoin's is nearly 10 times that at more than $147 billion.
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TRUST ME, BOND MARKET, PLEASE. James Glynn at The Wall Street Journal had a piece this week about how the Federal Reserve is considering following Australia’s lead in using “yield caps” as a policy tool to keep long-dated interest rates down. The thinking is if the central bank explicitly signals it will always institute bond-buying if the yield on a benchmark asset such as the 10-year Treasury note rises above some predefined ceiling, the market will be less inclined to prematurely believe the Fed is going to start tightening monetary policy. In other words, we won’t see a rerun of the 2013 “Taper Tantrum,” when the U.S. bond market, worrying that the Fed would start tapering off its bond-buying, or quantitative easing, drove down bond prices, which pushed up yields. (For bond market newbies, yields, which measure the effective annual return bondholders will earn off a bond’s fixed interest rate when adjusted for its price, move inversely to price.)
Unlike earning Bitcoin online currently, there are only a few legitimate ways available to earn Ethereum since Ethereum is younger than Bitcoin and yet to reach more people though it is the second most dominant cryptocurrency even if Litecoin is called the predecessor of Bitcoin. Some sites have started to pay free Ethereum and we can expect more sites to pay Ethereum for doing online jobs like taking paid surveys, completing tasks, & offers, etc. For now, there are only a few ways to earn Ether online. More ways to earn ETH will be updated once they are tested and found authentic.
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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.
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.0251). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . ETHBTC is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....
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.
Decentralized exchanges (DEXs), which allow peer-to-peer crypto trading without centralized exchange (CEX) taking custody of your assets, have integrated WBTC into their markets to boost the liquidity needed to make them viable. Sure enough, DEX trading volumes leapt 70% to record highs in June. (It helped, too, that June saw a surge in “yield farming” operations, a complicated new DeFi speculative activity that’s easier to do if you maintain control of your assets while trading.)
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.
Why? Is it my inflation terror driving me on? No. Ethereum is onto a new crypto winning phenomena. DeFi (decentralized finance). Well, that’s what it’s called, but most DeFi is dull and almost pointless, the exciting bit is the crypto lending part where you can stash your cryptocash in a blockchain system and get paid interest on it in a “risk free” way.
This part of DeFi feels like a new form of market. Anyone can join and everyone is invited. It has no KYC/AML (know your customer/anti-money laundering) hurdles and lags, and if it looks like a duck, waddles like a duck and quacks like a duck, that duck is a shiny tech casino. Of course all markets are casinos but if you can come up with a new form of market and it’s fun, exciting, instant and can be used sensibly or in insanely risky, win big/lose big ways, you are going have a winner. And they do. And it’s all powered by Ethereum.
There are legitimate concerns about security on Ethereum. With such a complex system, and so many different programs running on it, the attack surface is large. And given the challenges the community faces in migrating to Ethereum 2.0, including a new proof-of-stake consensus mechanism and a sharding solution for scaling transactions, it’s still not assured it will ever be ready for prime time.
Decentralizing Everything with Ethereum's Vitalik Buterin | Disrupt SF 2017