Canadian Provinces Compete for Attention of Bitcoin Mining Businesses

In Canada, individual provinces are responsible for energy issues, and their interest in Bitcoin mining is growing as several provincial governments have already offered low-cost energy incentives to attract mining operations to their provinces. Quebec, the largest Canadian province, wants in on the action and has overruled its energy provider Hydro-Québec’s request for a rate increase for Bitcoin businesses, in order to allow Bitcoin miners to have the same hydro rate as the largest industrial customers. Bitfarms, the only major Bitcoin mining company in Quebec, will continue to be billed…

Tron (TRX) Blow, Tether (USDT) Reason for Reward Postponement

Tron (TRX) prices ranging Justin Sun postpones USDT rewards in light of USDT troubles Technically, Tron (TRX) is in an uptrend, but before 4 cents, bulls must clear 3.1 cents. Spurring that may be fundamentals, but with Justin Sun postponing USDT rewards, it may be a while before TRX demand rise. Tron Price Analysis Fundamentals The circus around iFinex promise to be disastrous for BitFinex—a trusted exchange laden with scandals, and Tether Limited—caught lying about reserves backing USDT. Note that this will also be consequential for company leaders who despite…

Crypto Investment Firm Advertises Bitcoin as Superior

By CCN: Grayscale Investments is starting a movement urging all investors to drop gold and replace it with the better store-of-value, bitcoin. In a Monday morning Medium post, the digital asset management group announced its new #DropGold campaign. Beyond a catchy hashtag, the anti-gold campaign includes a website, upcoming debate, and a television ad push. Their commercial makes a compelling argument. Why is #gold still in your portfolio? #DropGold — Grayscale (@GrayscaleInvest) May 1, 2019 Branding Bitcoin as the New Digital Gold Grayscale is attempting to paint bitcoin as the…

A New Report Shows People Are Warming Up to Bitcoin

A Medium post published by Spencer Bogart, a general partner at Blockchain Capital, compares data collected from a set of surveys from October 2017 and April 2019 containing identical questions (plus a few new ones). The results, compiled from an online survey taken by 2,029 American adults, reveal that Bitcoin has been growing in the eyes of the public, despite its shrinking price. Overall, the results show that more people have heard about Bitcoin now than during the middle of the last hype cycle, when the October 2017 survey was…

Techstars-Backed Alkemi Enters DeFi Race With $16 Million Liquidity Pool

A new type of decentralized finance (DeFi) app wants to boost crypto-market liquidity by offering you interest on your coins. Today at the demo day for Techstars’ blockchain cohort, Alkemi CEO Ryan Breen will unveil a crypto liquidity pool deal worth $16 million from industry veterans like Joseph Weinberg, chairman of the data network Shyft, and Alex Friedberg of BXB Capital. Alkemi is looking to create a liquidity system for exchanges by making an accessible honeypot that service providers can dip into when demand increases faster than supply. “It’s solving…

CoinMarketCap Forms Alliance to Tackle Concerns Over Price Data Integrity

Cryptocurrency data provider CoinMarketCap is working with major exchanges on an initiative aimed to make price data more transparent. The effort sees the firms forming a new alliance, dubbed the Data Accountability & Transparency Alliance (DATA), that will discuss ways to tackle concerns over cryptocurrency data reporting in its current state, CoinMarketCap announced Wednesday. Led by CoinMarketCap, the alliance has notable members at launch including the cryptocurrency exchanges Binance, Bittrex, OKEx, Huobi, Liquid, Upbit, KuCoin, HitBTC Gate.io, OceanEx and Bitfinex, which will provide “in-depth suggestions” on the how to boost transparency…

Tether Scandal Sparks Bitcoin Price Gains; Litecoin, Bitcoin Cash Up 4%-11%

By CCN.com: The bitcoin price has increased from $5,173 to $5,297 on major regulated crypto exchanges including Coinbase in the past 24 hours, by 2.3 percent. Major crypto assets such as Litecoin and Bitcoin Cash spiked by 4 to 11 percent against the U.S. dollar. The unexpected recovery of the crypto market overnight comes after the office of the New York Attorney General filed a lawsuit against iFinex, alleging Bitfinex of mismanaging the cash reserves of stablecoin Tether. On April 30, as CCN reported, the general counsel of Tether stated…

Bitcoin (BTC) Price Signaling Bullish Continuation Above $5,400

Bitcoin price gained bullish momentum and broke the $5,200 resistance against the US Dollar. The price even broke the $5,300 level and it is currently trading with a positive bias. Yesterday’s discussed key bearish trend line was breached near $5,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded towards the $5,380 resistance level and it could continue to move higher. Bitcoin price finally gained traction above $5,200 and $5,300 against the US Dollar. BTC price is back in a bullish zone and it…

Crypto Market Smashes Resistance: Bitcoin Cash, Litecoin, EOS, ADA Analysis

The total crypto market cap climbed higher sharply and broke the key $170.0B resistance. Litecoin (LTC) price is up more than 6% and it recently broke the $74 resistance Bitcoin cash price surged more than 13% and surpassed the key $270 barrier. EOS price is slowly grinding higher towards the $4.85 and $4.90 resistance levels. Cardano (ADA) price is up more than 5% and broke the $0.0680 resistance level. The crypto market cap cleared many hurdles, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as bitcoin cash,…

Bitcoin Doesn’t Satisfy the Principles of Currency

By CCN: Dave Ramsden, deputy governor for markets and banking at the Bank of England, said in an interview with CNBC that crypto assets like bitcoin are too volatile to be a store of value and they do not meet the principles of currency. Citing the research of the Financial Policy Committee (FPC), Ramsden stated that the high volatility and the relatively high costs of crypto transaction settlement make cryptocurrencies less practical as currency. Volatility Could be an Issue for Bitcoin and Crypto but Time Will Fix It For any…