Catchy questions: what's the future of elections and why the market needs stablecoins

Catchy questions: what's the future of elections and why the market needs stablecoins

FedEx & others join Hyperledger, Baidu releases WP, France publishes a 'blacklist', West Virginia uses blockchain for voting, Circle launches its stablecoin, MasterCard searches for the way to expand its services, IRS wants to receive its cut

A lot of people treat Bitcoin as cash, or the same as [mobile payment service] Apple Pay… If they exchange it for another cryptocurrency or use it at, say, Overstock.com, they’d have to compare the fair market value of it that day versus their cost basis. They’re not always tracking that kind of information.

Sarah-Jane Morin, the partner at the national law company Morgan Lewis & Bockius

Food for Thought

Someone has copied 0,1 BTC on the Bitcoin Core client testnet.

Here you can see two similar inputs

BTC

3,993 USD
-0.49%

USCOIN

0.000000 USD
0.00%

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Bitcoin Lightning Network will never be production ready, says Bitcoin Cash [BCH] proponent Rick Falkvinge

Rick Falkvinge, a prominent Bitcoin Cash [BCH] proponent, said that the much-anticipated Layer 2 solution or the Lightning Network project is a “dead end for all intents and purposes”. According to Falkvinge, the so-called solution failed to provide solutions for some of the major problems plaguing the Bitcoin network since the past year. In a recent video, Falkvinge claimed that unlike a normal project, whose completion time decreases over time, the LN project’s completion time has only increased over time. Backing his claim that the Layer 2 solution would never be project ready, in his presentation, Falkvinge pointed out that in late 2015 or 2016, the Lightning network was just six months away, but in 2017, it was announced that the project was 18 months away. However, no updates were revealed the year after that. The founder of the Pirate Party, who has been a huge critic of the scalability solution project, outlined eight problems with the Lightning Network back in February last year. He also opined that the concept of Watch Tower was fundamentally wrong. Talking about deploying watchtowers to monitor on-chain transactions on the network, Falkvinge said that it was an unnecessary complexity. One of the problems that he noted was that the users must be online to receive funds. Falkvinge said that the “so-called” solution that LN presented over the past 12 months is that in place of users, a third-party ecosystem called “watch towers” would be online to detect possible threats and other malicious actors and neutralize it. According to him, this is not a solution as Bitcoin does not require “anybody” to be online for a transaction to settle. He also spoke about the legal liability associated with Lightning Network nodes. He stated that when a user on the network deposits money into a channel with another user, the individual starts acting like a bank and that bank requires a license to run. This is where the legal liability comes into the picture, he said. Additionally, calling it a design flaw in the Layer 2 solution, Falkvinge said that there would be no cold storage and the users on the network wouldn’t be able to store funds safely. The post Bitcoin Lightning Network will never be production ready, says Bitcoin Cash [BCH] proponent Rick Falkvinge appeared first on AMBCrypto.
AMBCrypto

Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored

Bitcoin price traded to a new monthly high at $4,064 and later corrected lower against the US Dollar. The price declined sharply below $3,950, but dips remained supported above $3,900. There is a crucial bullish trend line formed with support at $3,920 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on dips near the $3,920 level and the 100 simple moving average (4-hours). Bitcoin price is still in a strong uptrend despite recent bearish moves against the US Dollar. BTC/USD is likely to find a solid buying interest if it dips towards $3,940 or $3,920. Bitcoin Price Weekly Analysis (BTC) This past week, there was a decent upward move above $4,000 in bitcoin price against the US Dollar. The BTC/USD pair traded in a range above the $3,940 support level and finally broke the $4,000 resistance level. Buyers pushed the price above the $4,020 resistance and a new monthly high was formed at $4,064. However, buyers failed to hold gains above $4,020, resulting in a sharp decline below $4,000. The price dropped heavily and broke the $3,960 and $3,940 support levels. There was even a spike below the $3,900 support and the 100 simple moving average (4-hours). Having said that, buyers defended the $3,900 support and the price bounced back sharply above $3,940. There was a break above the 50% Fib retracement level of the last decline from the $4,064 high to $3,869 low. The recent recovery was solid, but the price faced a strong offer zone near the $4,000 resistance. The 61.8% Fib retracement level of the last decline from the $4,064 high to $3,869 low also acted as a hurdle. At the moment, the price is consolidating below the $4,000 resistance. Besides, there is a short term connecting bearish trend line in place with resistance at $3,990 on the 4-hours chart of the BTC/USD pair. A clear break above the trend line and $4,000 could open the doors for a fresh upward move. On the downside, there are many supports near the $3,940 and $3,920 levels. There is also a crucial bullish trend line forming with support at $3,920 on the same chart. Looking at the chart, BTC price is clearly well supported on the downside near the $3,940 and $3.920 levels. As long as the price is above the $3,900 support and the 100 SMA, there are chances of a steady rise in the coming sessions. Buyers may wait for a clear break above the $4,000 and $4,020 resistance levels to gain control. Technical indicators 4 hours MACD – The MACD for BTC/USD is slightly placed in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well below the 50 level. Major Support Level – $3,900 Major Resistance Level – $4,020 Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored was last modified: March 24th, 2019 by Aayush JindalThe post Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored appeared first on NewsBTC.
NewsBTC/analysis

A Citigroup job ad suggests blockchain initiatives are heating up at the bank

JPMorgan's got JPMCoin. And Goldman Sachs has its "bitcoin" trading desk.  But don't sleep on Citigroup. The New York-based financial services firm appears to be just as deep in the blockchain world as its cross-town rivals — at least according to a recent crypto job ad.  As per a LinkedIn ad for a blockchain role, one unit of the bank — Citi Markets and Securities Services — is working on initiatives across the crypto landscape.  "Citi Markets and Securities Services business is working on a number of Blockchain/ Distributed Ledger Technology (DLT) and Digital Asset initiatives that span asset classes, businesses and regions," the bank notes. The product manager position is no longer accepting applications (sorry hopefuls!).  The ad asserts that the bank has a wide-range of crypto clients, noting:  "We are working with clients, Financial Market Infrastructures (FMIs) (i.e., exchanges, clearing houses, and settlement venues), and FinTech providers. These initiatives have continued to grow and are in various stages of the innovation and deployment funnel. We expect our engagement to continue to expand as Blockchain/DLT technology continues to evolve and will impact our business on multiple fronts." The role would play a "key part" in driving "multiple internal and external engagements," according to Citigroup. Still, a recent report by CoinDesk shows the bank stepped away from one notable crypto project, dubbed Citicoin. The JPMCoin-like project was never announced and was being worked on out of its Ireland offices.
The Block Crypto

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