Connect with us

Blockchain

Bitcoin (BTC) Creator Satoshi Nakamoto May Have Seen Even Larger Financial Crisis Coming, Says Kraken’s Jesse Powell

Avatar

Published

on

ADVERTISEMENT


Kraken CEO Jesse Powell says the person or group responsible for creating Bitcoin believed governments would find it increasingly difficult to maintain fiscal responsibility after the 2008 financial crisis.

In a new interview with Real Vision co-founder Raoul Pal, Powell says Satoshi Nakamoto, the pseudonymous inventor of the leading cryptocurrency, may have seen “an even bigger bubble coming and even worse outcome coming given how we handled the last financial crisis.”

Powell says Kraken, the US-based crypto exchange he founded in 2011, is now witnessing spikes of trading volume in countries hounded by high levels of inflation and currency volatility, such as Argentina and Venezuela.

But in order to achieve widespread adoption, Powell maintains Bitcoin will have to become increasingly easy to buy, store and spend.

“For Bitcoin, you know, in the asset class broadly, I think that we’ll continue to see more adoption. I’m hoping that the technical components of it, the sophistication, continues to fade away into the background and it just becomes more like, you know, just an app or like a PayPal.”

Pal, the founder of Global Macro Investor, says he believes Bitcoin is just getting started after emerging as one of the best performing assets of all time and proving its potential as a store of value. He’s looking for central bank digital currencies to further establish BTC as a new form of digital gold.

“It’s an extraordinary thing and it just feels that [Bitcoin] is becoming more and more relevant.

I mean there’s a US dollar crisis going on right now, a shortage of US dollars… central banks [are] talking about digital currencies, which is desperate, but it’s creating the on ramps and off ramps to the digital world that you envisaged.”

ADVERTISEMENT


Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Krasovski Dmitri

Source: https://dailyhodl.com/2020/07/10/bitcoin-btc-creator-satoshi-nakamoto-may-have-seen-even-larger-financial-crisis-coming-says-krakens-jesse-powell/

Blockchain

Billionaire Mike Novogratz Builds Bitcoin Position on Prescience

The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally. Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to […]

The post Billionaire Mike Novogratz Builds Bitcoin Position on Prescience appeared first on BeInCrypto.

Avatar

Published

on

The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally.

Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to BeInCrypto that he added to his bitcoin position on Oct. 19, a decision made on prescience leading into a rally on Oct. 20.

And it’s what he had to say about where the BTC price is headed that could give investors a chance to capitalize on the momentum.

Novogratz expects that once bitcoin takes out $12K, not only does it move higher from there but it will do so quickly. He points to the fundamentals, including “too much demand from new participants,” as the catalyst. Novogratz told BeInCrypto,

Advertisement

Continue reading below

Bitcoin’s Rough Resistance

The $12K level is an important threshold for several reasons. Many consider it tough resistance and the BTC price has not been able to overcome it of late. Recent sessions have seen it remain stuck between the $10,000 and $11,000 area.

Once bitcoin manages to reattain this milestone, the last time of which was August 2020, pundits argue it could be off to the races again.

Bitcoin bull Ivan on Tech, who posts daily videos on YouTube where he has more than 260,000 subscribers, has been giving the play-by-play. He pointed out on Oct. 20 that the bitcoin price actually went straight to $12,000 but got rejected there, which according to him is “all according to plan.”

Once the bitcoin price successfully breaks this level, Ivan on Tech is expecting big things, exclaiming in a tweet,

“Bitcoin will break $20,000 like a massive BOSS.”

The entire crypto community is likely glued to their screens to see if history repeats and the bitcoin price rallies to the moon.

Source: https://beincrypto.com/billionaire-mike-novogratz-builds-bitcoin-position-on-prescience/

Continue Reading

Blockchain

Latvian Financial Watchdog Issues Crypto Fraud Warnings

Latvia’s  Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities. The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices. In an official statement published by the FCMC, investors were urged to stay vigilant against […]

The post Latvian Financial Watchdog Issues Crypto Fraud Warnings appeared first on BeInCrypto.

Avatar

Published

on

Latvia’s  Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities.

The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices.

In an official statement published by the FCMC, investors were urged to stay vigilant against the growing number of investment opportunities that target individuals across different channels.

According to the FCMC, cryptocurrencies, and associated platforms within Latvia function with a lower degree of regulation when compared to many other financial markets. It claims this makes attacks more prevalent in the country.

The regulators also mentioned that these attacks might be difficult to detect at first because they oftentimes use “the names and images of renowned companies.”

Advertisement

Continue reading below

Uptick in Fraud

Many online advertisements used for fraud purposes lead unsuspecting victims to fancy websites that give them a false sense of security.

The FCMC noted that online fraudsters are constantly on the watch for new ways to extort money from potential victims and that they will often contact investors via email or other popular social media platforms, and even sometimes by phone.

The scammers normally try to mislead investors into buying currencies that don’t exist, refuse withdrawals, or demand that they pay exorbitant amounts for transfers of funds.

The FCMC has welcomed residents to check with the watchdog in order to verify the legitimacy of any platforms or services before actually investing any money. The regulator also listed verified financial service providers on its website.

Source: https://beincrypto.com/latvian-financial-watchdog-issues-crypto-fraud-warnings/

Continue Reading

Blockchain

Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis

The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news. The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR […]

Avatar

Published

on

ADVERTISEMENT

The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news.

The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR ranked 14th by market cap and trades at $127, increasing by 5% in the day, trimming the weekly losses to less than 4%. At the same time, other major coins from the top 15 which are less than 3% in a day. XMR increased today after a slight reaction to the expected update which was launched on Saturday.

Initially announced in August 2020, Monero’s latest Oxygen Orion update brings some more important improvements to the network at a time when the regulators are getting increasingly worried about the privacy coins. The latest update brings the so-called compact linkable spontaneous anonymous group feature.

coinpaprika
Source coinpaprika.com

As per the Monero blog, the CLSAG update allowed smaller and tighter transactions and will also reduce the transaction size by about 25%. This will also improve the transaction times by 10% and will bolster privacy with Dandelion ++ which is a feature that aims to protect users’ IP addresses. The latest update release comes not too long after another speed and security-centric upgrade named Nitrogen Nebula was launched which was one of the many upgrades that went live in the past few months.

ADVERTISEMENT

Right before the release, Monero enjoyed an increase in price and moved up by about 35% in a month and 125% in a year while the US Department of Justice released a new report that explains the risks of end-to-end encryption along with the US Internal Revenue Service which declared war on privacy coins, offering a bounty of about $625,000 to crack Monero’s privacy code.

Monero approaches key resistance, xmr, privacy

Now, Monero scales up to 20 times while compared to the other upgrades, there will be no change to Monero’s mining algorithm was frequently modified to disadvantage the ASIC miners. The project’s upgrade from 2019 included RandomX which means that the network no longer needs changing to its mining algorithm for ASIC resistance. Though not directly related to the upgrade the development of the community project is progressing. The community developers have been working on the atomic swap which allows users to exchange Monero for other coins. The proposal for the project has reached full funding as of late.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/monero-news/upgraded-xmr-becomes-best-performer-among-top-15-coins-analysis/

Continue Reading
Energy4 hours ago

American Electric Power Receives First NAPPC Pollinator Electric Power Award

Energy4 hours ago

Garrett Announces Acquisition

Energy4 hours ago

NASA, Department of Energy Expand on More Than 50 Years of Collaboration

Energy5 hours ago

GivePower Foundation Receives $1 Million Donation from Silicon Valley Technology Veteran Chris Larsen

Energy5 hours ago

AEP Increases Quarterly Dividend To 74 Cents A Share

AR/VR6 hours ago

From Environmental to Social: XR Tackles Global Issues

AR/VR6 hours ago

New Japanese PlayStation VR Bundles to Include Camera Adaptor for PlayStation 5

Energy7 hours ago

McKim & Creed Acquires­ Water Loss Recovery and Control Firm

Energy7 hours ago

Global Cable Management Market (2020 to 2027) – by Type, and End-user

AR/VR7 hours ago

Qualcomm’s XR Enterprise Program Doubles Membership, Includes Holoride, OssoVR & Talespin

Energy7 hours ago

Worldwide Industry for Cables and Connectors to 2027 – Growing Number of Data Centers Presents Opportunities

Energy7 hours ago

Xinhua Silk Road: La transformación verde es vital para el desarrollo del carbón de coque y la cooperación energética de la B&R

Automotive7 hours ago

ALYI Highlights Next Steps

Energy7 hours ago

Field Squared Selected by TRC to Embolden Digital Transformation of Its Utility Service Operations

Crowdfunding8 hours ago

The Worst Way to Respond to Any Market Crash

Blockchain8 hours ago

Billionaire Mike Novogratz Builds Bitcoin Position on Prescience

Entrepreneur8 hours ago

It’s Time for You to Rise Up!

Entrepreneur8 hours ago

If You’re Not Using a CRM System for Your Small Business, You’re Wasting Time and Money

Patents8 hours ago

New electroactive bacterium for wastewater treatment

Blockchain8 hours ago

Latvian Financial Watchdog Issues Crypto Fraud Warnings

Cannabis8 hours ago

PURA Concludes Farmersville Meetings – Deal Imminent

EdTech8 hours ago

Blended Learning Best Practices (with Catlin Tucker) – SULS085

Entrepreneur8 hours ago

This CEO Doesn’t Look at Resumes When Hiring

Entrepreneur8 hours ago

Virtual Meeting Etiquette Guide for Hosts and Attendees

Entrepreneur9 hours ago

9 Ways to Add Revenue to Your Marketing Agency Before 2021

Blockchain9 hours ago

Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis

Coinpedia9 hours ago

Brookmount Explorations, Inc. Reports Record 3rd Quarter Earnings

Blockchain9 hours ago

Billion Dollar Companies Interested In DeFi, As Crypto.com Study Shows

Biotechnology9 hours ago

PAOG Advances FDA Application Process For Respiratory Cannabis Drug Treatment

AR/VR9 hours ago

Survios Releases ‘Combat Rebalance Patch’ for The Walking Dead Onslaught

Blockchain9 hours ago

Hackers Donate Stolen Bitcoin To Two Different NGOs: Report

Patents9 hours ago

EIP and Osborne Clarke successful for PanOptis against Apple

Blockchain9 hours ago

DASH Breaks Out From Long-Term Bullish Pattern

Coinpedia9 hours ago

ZICIX Set to Modernize the Coupon Industry with an Innovative, Integrated Smartphone App and Dashboard Solution

Blockchain10 hours ago

LINK Rejected $11 Price Level, Could Drop Below $10.5: Analysis

AR/VR10 hours ago

FundamentalVR now Supports Ophthalmology Training

Energy10 hours ago

nexAir acquires Atlanta-based medical gas supplier

Energy10 hours ago

Sight Machine Puts the True Smart Factory in Reach With Automated Optimization of Manufacturing

Blockchain10 hours ago

DASH Enters DeFi The Price Reacts Immediately, Jumping By 12%

Energy10 hours ago

QMC Responds to Announcement of Canadian Electric Vehicle Production

Trending