Erik Finman: My Cryptocurrency Will Kill Libra

Crypto millionaire Erik Finman says bitcoin is being replaced by Facebook’s Libra. But he says his app Metal Pay is the “Libra killer.” | Source: Erik Finman/Twitter (i), Shutterstock (ii). Image Edited by CCN. By CCN Markets: Crypto millionaire Erik Finman says bitcoin “is being replaced” by Facebook’s Libra. But he insists his cryptocurrency, Metal Pay, is the “Libra Killer.” The 20-year-old entrepreneur made the ballsy claims in a blog post at Wall Street Playboys. Moreover, Finman boldly declared that his Metal Pay platform could supplant both bitcoin and Libra.…

Miniscript: How Blockstream Engineers Are Making Bitcoin Programming Easy(er)

Bitcoin offered the first smart contract programming language the world had ever seen. Script, as this language is called, lets users encode different conditions under which coins can be spent. But while this was a revolutionary concept, it’s not easy to use, especially for more complex spending conditions. Both writing a complex contract as well as verifying that the contract does what it is supposed to do are prone to human error. Yet, especially with money at stake, correct interpretation of the conditions is of the utmost importance. Over the…

Crypto Adoption has Yet to Hit the Masses

The cryptocurrency industry may be popular, but that doesn’t mean it has seen mass adoption. Even Vitalik Buterin, the creator of Ethereum, agrees. Speaking to The Toronto Star recently, the 25-year old multimillionaire provided reasons why he thinks crypto adoption has yet to catch on. Crypto Adoption: Why Hasn’t It Happened Yet? Yesterday, The Star posted an article focusing on Buterin’s thoughts on why crypto adoption has yet to happen and what the industry can do to boost the adoption of virtual currencies. One of the main issues Buterin discussed…

Bitcoin May Plunge as It Prints a Familiar Bearish Structure

Bitcoin looks short-term bearish and long-term bullish due to a familiar technical structure on the chart. Find out more here. | Source: Shutterstock By CCN Markets: In technical analysis, a support area gets weaker every time the prices touches it. That’s because each tap drains the strength or the demand at the support. A good example of this principle is the bitcoin breakdown of the $6,000 support on Nov. 14, 2018. The infamous descending triangle breakdown that sent bitcoin to $3,000 | Source: TradingView In the chart above, you’ll see that…

J.Lo and A-Rod Backed a Fintech Play. They Should Invest in Bitcoin Next

Jennifer Lopez and Alex Rodiguez invested in the fintech firm Acorns Grow Incorporated. They should buy bitcoin next. Here’s why. | (i) Photo by ANGELA WEISS / AFP (ii) Shutterstock; Edited by CCN By CCN Markets: It’s not unusual to see A-listers diversify their income streams by investing in promising ventures. We recently learned that celebrity couple Jennifer Lopez and Alex Rodiguez have dipped their toes into the financial industry by investing in fintech firm Acorns Grow Incorporated. Welcome to the family. 🙌🌳 #GrowYourOak pic.twitter.com/bVrakSwgG5 — Acorns (@acorns) August 19,…

Bitcoin Becoming Reserve Asset for Altcoins: Ark Investment

A recent run-up in the bitcoin price has been credited to a string of events: the US-China trade war, determined monetary easing by central banks, price manipulation via Tether’s stablecoin USDT, Facebook’s plans to launch its cryptocurrency, as well as a weakening Renminbi. But another factor may be lifting bitcoin as well: altcoins. New York-based Ark Investment showed in its research that altcoin capital is fleeing into the bitcoin market. Almost every alternative cryptocurrency has established its low against bitcoin since the spike in 2017. Ethereum’s ETH, for instance, is now down…

Legendary Investor Bashes ‘Psycho-Currency’ Bitcoin, Then Accidentally Makes Crypto Case

Mark Mobius, founding partner of Mobius Capital Partners claims bitcoin’s emergence will further drive investors to gold. | Source: REUTERS/Francis Mascarenhas By CCN Markets: Mark Mobius, the legendary emerging-markets investor and founder of Mobius Capital Partners, referred to bitcoin as a “psycho-currency” on Tuesday in an interview with Bloomberg. He claimed the rise of “faith-based” cyber-currencies would ultimately push investors towards hard assets like gold. “You have all these new currencies coming into play. I call them psycho-currencies because it’s a matter of faith whether you believe in bitcoin or…

Bitcoin (BTC) Price Could Revisit $11.2K or $11.4K

Bitcoin price extended gains above the key $10,600 and $10,800 resistances against the US Dollar. The price is currently correcting lower after trading to a new weekly high at $10.960. Yesterday’s highlighted major bullish trend line is intact with support near $10,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct lower, but it seems like the bulls are eyeing a test of the $11,200 resistance area. Bitcoin price is gaining bullish momentum above $10,500 against the US Dollar. BTC is likely to…