Who considers crypto a desirable investment opportunity?

What's new? A new crypto survey conducted by Germany, Weiss Ratings talks about the benefits and dangers of EOS, 1/3 of all Bitcoins is in only 1,600 wallets, the ETH developer gives a hint, EOS is finally launched & other news.

  • 29% of Germans consider crypto a good investment. The survey was conducted by Germany's Postbank. People between 18 and 34 are the most interested in crypto, and many of them think of buying it or mining in the next 12 months.
  • Weiss Ratings gives EOS a pretty good review, but warns about a possible downgrade. The cause of this downgrade could be the lack of decentralization. In its current state, the EOS network is highly centralized, with a few block producers validating transactions. However, it still has its 'B-' grade by Weiss Ratings and still has time to solve its problems.
  • The SEC of Thailand approves using 7 cryptocurrencies for ICOs and trading. These currencies are BTC, ETH, LTC, ETC, XLM, XRP, and BCH. There’s also a set timeframe until the 14th of August for all exchanges located in Thailand to register for getting the license.
  • Nearly 1/3 of all Bitcoins is stored on 1,600 wallet addresses. That number is published by a research firm Chainalysis. The report says that each address contains at least 1,000 Bitcoins with a total sum of about 5 million Bitcoins.
  • Canada came up with the regulations for crypto-related businesses. They will be regulated in the same way as Money Services Businesses. Hence such companies are required to verify their clients according to know-your-customer (KYC) policy.
  • A hint by Ethereum developer: Ethereum may skip the stage of Casper FFG. It should have been some sort of a bridge between PoW and PoS versions of Ethereum, but now it seems unnecessary, and it could move on to sharding in a few months.
  • EOS was finally launched on June 10. There were some difficulties related to a complete lack of tools for voting, which was crucial for selecting block producers. Now the blockchain is up and running.
  • One of the biggest Bitcoin whales transferred a part of his funds onto Huobi. This unknown whale still has 86,000 Bitcoins stored on one address, and additional 8,000 BTC that he may sell on the exchange.
  • The South Korean investigation on Bithumb is over. All suspicions and accusations of one of the largest exchanges in the country were dropped. All money made by Bithumb in 2017 are white and legal.

Bitcoin

BTC
Price
3,610 USD 1.38%
Volume, 24h
1,039,381,918 USD
16.68%
Marketcap
62,781,516,252 USD
52%
Emission
83%

Related news

Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth

While the bitcoin hash rate has taken a downward shift during the latter half of last year, Zcash has been on a constant upward movement that could make it a crypto miners refuge. Miners Flocking to Zcash The reports of Bitcoin miners leaving the crypto mining scene has been doing the rounds since mid-2018 after the crash of 80 to 90 percent in cryptocurrency prices. Bitcoin is down about 82 percent from its all-time high at $20,000 to about $3,500. Around October, Bitcoin hash rate took a dip and only started upward descent in mid-December. According to Diar’s latest report, cryptocurrency miners are flocking to Zcash due its block reward halving period. “Cryptocurrency miners have found refuge in solving for Zcash with the block reward still two halving periods behind Bitcoin (Zcash follows the same controlled supply model with differing block times).” The privacy-focused cryptocurrency, Zcash is a code fork of Bitcoin protocol that uses  zero-knowledge proofs to “enable privacy-preserving transaction data.” It first came into existence in late October 2016. The hash rate of Zcash has been growing on a constant upward movement as can be seen in the 1-year chart above. “With 7200 ZECs up for grabs daily the networks mining hash rate has been able to sustain a 650% growth as other cryptocurrencies lose equipment in the face of the ongoing bear market and stiff competition.” Earlier this month, zooko Took to Twitter to share the ongoing developments in Zcash to share that “As expected, the GitHub thread about radically revamping Zcash mining is heating up. https://github.com/zcash/zcash/issues/3672 … It’s important because at today’s prices there is more than $400K/day of new Zcash issuance” The community is also working on Zcash blossom, a “dual-proof-of-work scheme, where one algorithm is backward compatible with current mining equipment, and another is designed to work well with GPUs on a temporary time scale.” Harmony mining will be affecting the miners as its goal is to make the Zcash ecosystem more resilient by “spreading issuance and political influence among distinct kinds of stakeholders.” The post Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth appeared first on Coingape.
CoinGape

Bitcoin (BTC) Price Reaching $10 Million Could Assist in Solving the World’s Growing Debt Problems

There are several individuals and experts predicting Bitcoin (BTC) to reach new highs in the future. Most of the predictions tend to be between $20,000 and $1 million in the coming years. Nevertheless, Lucid Investment Strategies believes that Bitcoin could skyrocket up to $10,000,000 in the future. If that happens, the debt problem that the world is currently facing could be eventually solved. The asset management firm Lucid Investment Strategies is one of the most bullish companies on virtual currencies and Bitcoin. In a recent report released by the company, Bitcoin could reach $10 million and become the new gold standard. This could also have a deep and positive impact on the current world debt. Indeed, back at the end of 2018, the world debt was close to $247 trillion, compared to $317 trillion that the world has in total wealth. Although the wealth around the world remains larger than the debt, the gap between both is getting closer and closer every year. In this report, the company explains that this situation is not sustainable anymore and that the solution could be related to Bitcoin and cryptocurrencies. Two of the solutions could be to adopt a new gold standard or just start investing in Bitcoin. Although it might not be easy to happen, Bitcoin is the best alternative for it since it would offer a permanent fix to this debt crisis that the world is currently experiencing. For the company, Bitcoin offers the greatest benefits with the least collateral damage to the least number of parties. The company believes that Bitcoin could reach new highs close to $10 million. In this way, Bitcoin would provide enough res. On the matter, the company explained: “Why $10 million? At that level, Bitcoin would provide a sufficient reserve to alleviate the world debt burden. Bitcoin would be worth between $180 trillion and $210 trillion (depending on when that price was reached. Assuming world debt had reached $500 trillion at that time, remember it has grown by 394% over the past 20 years, Bitcoin would represent a 40% reserve against the debt.” Nevertheless, there is a long way for Bitcoin to reach these values. Indeed, now it is still in a bear market that started back in December 2017 when Bitcoin was traded close to $20,000. Now, Bitcoin is being traded around $3,581 and it has a market capitalization of $62.65 billion. Bitcoin would have to move from this bear market and try to reach the last all-time high. After it, the most popular cryptocurrency will have to keep growing. In order for this to happen, Initial Coin offerings (ICOs) will have to lose their value, however, Bitcoin would have to do it at a lower rate than its competitors in the space. After surpassing $20,000 the next step would be to reach $100,000, allowing Bitcoin to be a close rival to gold as an economic hedge. There might be a moment in which gold investors would move towards Bitcoin. The path to reach $10,000,000 would be faster if that happens. Scaling solutions will also play an important role in increasing Bitcoin’s value. When the largest cryptocurrency in the market reached $20,000, transactions were slow and a single transaction could cost $55 in fees. Now, Bitcoin developers are working on a solution for its scaling issues known as the Lightning Network (LN). In this way, Bitcoin would be able to process thousands of transactions per second without having to contest the whole network. Institutional investors are also going to play an important role in helping Bitcoin to reach its $10 million dollars’ goal. There are some companies that are trying to develop new platforms for institutions and larger investors that want to gain exposure in the market. This will be accomplishing the road to $1 million, reads the report. At $1 million per coin, Bitcoin will have a market capitalization of $18 trillion, which would make of it one of the major assets in the world. Pension funds, institutional money managers and other financial institutions will be paying close attention to this asset and ultimately reach $10,000,000. This is something that might be difficult to achieve in the near future, but not impossible to see it.
Bitcoin Exchange Guide

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.