Connect with us

Blockchain

Bloomcast 2020 Ep. 1 Recap: Brand New Year

Luis ended the show highlighting that he wants Bloomcast to be the place where everyone in the crypto PH community can go and talk about and represent what they are doing.

The post Bloomcast 2020 Ep. 1 Recap: Brand New Year appeared first on BitPinas.

Avatar

Published

on

Please share and grow the BitPinas community.

January 23, 2020 — Bloomcast is a weekly web show by BSP-licensed virtual currency exchange BloomX where its host Luis Buenaventura, Ramon Tayag, and Justin David invite local crypto personalities to discuss the important news and developments in the industry for the week.

The first BloomCast episode for 2021 aired on January 19, 2021. To discuss the news, host Luis Buenaventura showed on the screen BitPinas’ Monday Market Post, which discussed the news for the previous week. (Thanks!) This article is meant to provide a few highlights from the show.

(Note that anything pertaining to price predictions is not investment advice.)

Table of Contents.

On Bitcoin Price

Every week, the show’s hosts and guests will try to guess the price of Bitcoin the next time Bloomcast goes live. While they try to make rational price predictions, of course, most of the time these predictions are not based on anything and are more “gut feel”. Just for fun.

But they couldn’t have been more wrong this time around because their predictions in the last December show were way wrong .

Justine: I was predicting where we were, maybe a  bit lower but not at this level.

Ramon: I remember I said “$23,500 and you were like whoah wait that’s impossible. (The price was around $17k the last time the show went live in December)

Justine: I think at that time there was a hard dip so maybe everyone was a bit scared.

Price Prediction for Next Week:

(Again, note that anything pertaining to price predictions is not investment advice.)

Luis: I’m gonna go with $47,000 because I think we’ll be testing $50k next time. But it’s mostly because I’ve already got the illustration ready for $50k!

(Luis, when not managing Bloom, spends his time as the artist behind “CryptoPop!” who illustrates every Bitcoin price milestone. Here’s his illustration for $40,000 and $30,000)

Onto the news:

Making Sense of Lindsay Lohan’s Bitcoin Shoutout

The story: Lindsay Lohan got quoted saying Bitcoin is going to go up to $100,000.

Luis: On that day, Bitcoin went up 12% so I don’t know if her shoutout has anything to do about it. But it’s an example wherein the news is not what you think.

It appears Lindsay Lohan was paid $350 on the website Cameo to say whatever the payee wants her to say. It happens that she was asked to say something good about Bitcoin. “Bitcoin is gonna hit $100k and Ethereum $10k”)

LAPU-LAPU Php 5,000 bill

The story: BSP unveiled a Php 5,000 Lapu-Lapu  bill

Luis: It might be commemorative but they designed it as legal tender. 

Luis believes the Philippines needs a $100 equivalent bill ($100 = Php 5,000 if $1 = Php 50). “The fact that we never had that, our largest bill was $20 bill, it means that it’s very very difficult to move sums of money that are more than the normal sums.”

On the New Head of U.S. SEC and XRP

The story: The new head of SEC is knowledgeable about blockchain and cryptocurrency.

Luis: Here’s the most important part here, he (Gary Gensler) believes XRP is a security.

Mark Vernon: Definitely is.

(Why is this important?)

Luis: A lot of people are buying into XRP this week because it’s still doing well, believe it or not. 

Mark: It’s definitely a security and people are buying on the dip, etc, for speculation purposes, but I don’t think it’s going to survive this (legal issue with U.S. SEC) because it’s too obviously a security with people at the top who made a lot of money out of it and they are the ones that are promoting it. 

Justine: The U.S. SEC has a strong case that it is a security. I mean if you look at the people who are in charge at Ripple. They have this argument that if XRP is a security so do every other altcoins out there. These guys deserve this.

Mark: There’s a reason why Stellar exists and its founder is the same guy who created Ripple. 

Cities and Crypto

The story: Miami mayor wants to put a portion of the city’s treasury into Bitcoin.

(The question now is, will there ba Philippine city that will follow? Someone cited Legaspi. Kookoo said Cebu.)

Comment from the viewer “Eren Kereci”: There are cool local governments arising in the Philippines. They need someone to approach them properly before any shit coin creator goes there and mak them lose faith in crypto before they even have it. 

Bitcoin Core Update

The story: Updates to Bitcoin Core

Ramon: We have Taproot and Schnorr which I don’t know if they’re going to arrive at the same time. The miners, I believe around 90% of them are signalling that they are okay with Taproot. What these upgrades allow is more privacy and I don’t think there’s gonna be a limit to multi-sig anymore. You can have a hundred participants and they all come out as one signature. 

Luis: Just a quick review, when Bitcoin core releases a new version, the miners and the nodes all have to agree to accept this version. It is not a dictatorship. There needs to be some majority consensus before we move to this version. 

Axie Infinity

(KooKoo was asked what’s the latest in Axie Infinity)

(It was noted that there was a decrease in SLP prices as of late. What is the reason?)

KooKoo: Because of the spike in gas fees, the breeders are not keen to breed new Axies. (So in Axie Infinity, the farmers earn SLP when they win a match. This SLP can be sold for Ether or the breeders will buy it, because SLP is needed to breed new Axies). “So the price keeps going down because there are more farmers than breeders or burners of tokens.” 

“But right now the price appears to be going up again, because the gas fees are lower so we are able to burn SLPs by breeding Axies and list new Axies to the marketplace.”

“When the gas fees are high, we can’t do anything, and that’s the reason why the team is working on the Ronin sidechain. We’re very near, we’re looking forward to it.”

Luis: I have a question for you, let’s say the Ronin sidechain is up, where all the in-game stuff happens (breeding, selling etc), but if you want to turn SLP back into ETH or move it into Binance, you have to go back to the mainchain right?

Mark: That’s the token bridge so that people can go in and out into the mainnet. But for a lot of people, they don’t need to go back out. 97% of the trading could be just between the players and the breeders, so just like in USDT, when we liquidate BTC for USDT, we can take out USDT (to USD or PHP), but we can also just let the USDT stay on our wallet or exchange and just keep it in the system.

Luis: But if you want to take your SLP earnings and turn it into GCash? Now you do need to go back out right?

Mark: Actually they do not need to. Bloom or us can just have an account on the sidechain, we just “we’ll give you cash for your SLP, and we won’t need to go back to Ethereum so we save ourselves fees and so on. If I got a lot of money on the sidechain, I can always take it out of the system. 

KooKoo: There’s a possibility that there will be a stablecoin inside Ronin.

(Luis thinks the problem of gas fees will be around for as long as ETH 2 is not yet out. “It is going to take a while.”)

Luis ended the show highlighting that he wants Bloomcast to be the place where everyone in the crypto PH community can go and talk about and represent what they are doing.  

Please share and grow the BitPinas community.

Source: https://bitpinas.com/feature/bloomcast-2020-ep-1-recap-brand-new-year/

Blockchain

GBA Healthcare Working Group Releases White Paper as First Asset inBlockchain Ethical Design Framework for Healthcare

Avatar

Published

on

WASHINGTON, DC –March 2021

Beginning early 2020, theGovernment Blockchain Association (GBA) Healthcare Working Group (HWG)began undertaking the development of an ethical design framework for blockchain solutions in the healthcare industry as a service to the public. The GBA HWG is releasing the first asset in the Blockchain Ethical Design (BED) Framework for Healthcare in the form of a White Paper.

We are excited to offer this guidance to healthcare policymakers, decision-makers and innovators in implementing blockchain featured technology in the healthcare space. The BED Framework for Healthcareis being developed collaboratively by members in the HWG including caregivers, entrepreneurs, healthcare technologists and legal professionals from around the world. We cover a comprehensive spectrum of use cases, regulatory and legal scenarios, and procedural insights based on real world experience in healthcare technology innovation. This White Paper is only the first asset in a suite of guiding tools the GBA HWG will be releasing through 2021, and we are looking forward to the feedback of our audience.” –Marquis Allen, GBA Healthcare Working Group Chair

The purpose of this publication is to:

  • Identify potential ethical issues of blockchain used in health service delivery
  • Discuss potential ethical issues for stakeholders across the healthcare ecosystem including regulatory and compliance segments
  • Propose a conceptual framework of blockchain ethics as it applies specifically to its design, implementation and use in healthcare.
  • Create an outlinefrom which the Blockchain Ethical Design (BED) Framework for Healthcare and its assets, tools, documents and content will be developed by the GBA HWG.
  • Raise awareness and stimulate further debate on the ethics of blockchain in the healthcare IT,health system governance and regulatory communities.

The GBA invites you to contact them for more information.

Learn more about the GBA: gbaglobal.org

For more information about the GBA Healthcare Working Group: gbaglobal.org/HWG

To download the whitepaper: gbaglobal.org/download

Contact: Kathy Dache @ Kathy.Dache@gbaglobal.org

________________________________________________________________________

Continue Reading

Blockchain

TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

Avatar

Published

on

Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/ta-bitcoin-turns-attractive-above-50k-why-btc-extend-its-rally/?utm_source=rss&utm_medium=rss&utm_campaign=ta-bitcoin-turns-attractive-above-50k-why-btc-extend-its-rally

Continue Reading

Blockchain

Kraken Daily Market Report for March 07 2021

Avatar

Published

on

Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/kraken-daily-market-report-for-march-07-2021/?utm_source=rss&utm_medium=rss&utm_campaign=kraken-daily-market-report-for-march-07-2021

Continue Reading

Blockchain

Crypto Influencer Ben Armstrong Names 4 Cryptoassets That Could Surge in March

Avatar

Published

on

Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/crypto-influencer-ben-armstrong-names-4-cryptoassets-that-could-surge-in-march/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-influencer-ben-armstrong-names-4-cryptoassets-that-could-surge-in-march

Continue Reading

Trending