Bitcoin pumps hard and then it dumps harder. Everyone knows the story, and indeed this volatility is why many have stayed away from the cryptocurrency sector altogether. Since Bitcoin’s first recognized bull run and subsequent dump in 2011 the pattern has repeated three times, but there is a sense that this time round things could be different, that we may have entered what Dan Held called a Bitcoin super cycle. What’s different about this current run, and what could it mean for Bitcoin’s future?
The Tor network has been compromised by hackers who are using their powers to steal Bitcoin. A report from independent security researcher Nusenu reveals that 2020 has seen the highest number of exit relay attacks on the Tor network in at least five years
Read the full article at FullyCrypto: https://fullycrypto.com/tor-network-compromised-by-bitcoin-hackers
Cred is a project that touts itself as blockchain’s answer to the current banking system, and on paper, it has a wide range of pretty neat products. Offering you the ability to put your crypto up as collateral for instant loans, Cred had some of the best interest rates around at up to 10%.
Read the full article at FullyCrypto: https://fullycrypto.com/cred-hits-the-skids-as-balance-sheet-doesnt-add-up
Bull runs are a gift from the market gods, but unless you play them the right way you can end up making a mess of them and not maximizing your profits. We have already covered the best way of making it in a bull run, and one of the key pieces of advice is to keep your coins off an exchange during a bull run. This is such an important point that it’s worth going into a bit more detail, so here are the three reasons why you should keep your coins off an exchange during a bull run.
Read the full article at FullyCrypto: https://fullycrypto.com/why-you-should-keep-your-coins-off-an-exchange-in-a-bull-run
The People’s Bank of China (PBOC) has stated publicly that it needs to lead the way in the issuance of a Central Bank Digital Currency (CBDC) in order to reduce dependence on the global dollar payment system. Reuters reports that in an article published in China Finance, a magazine operated by the PBOC, the bank says that sovereign digital currencies would form part of a “new battlefield” between nations, marking the first time such language has been used by officials.
Read the full article at FullyCrypto: https://fullycrypto.com/pboc-digital-yuan-will-reduce-dollar-dependence
Chainalysis has won one of two contracts from the Inland Revenue Service (IRS) to create tracing tools for the Monero cryptocurrency and Layer 2 protocols. The two contracts, worth $625,000 each, were awarded to Chainalysis, one of the pioneers of the blockchain analytics space, and Texas-based Integra FEC. The deal means that Chainalysis and Integra will now work hand in hand with the IRS in tracing Monero transactions they believe are linked to tax avoidance and other similar crimes.
Read the full article at FullyCrypto: https://fullycrypto.com/chainalysis-wins-625000-irs-monero-cracking-contract
The Financial Times doesn’t like Bitcoin. Or cryptocurrency. Or anything outside of its traditional banking sphere. This perhaps isn’t surprising considering that the newspaper is 132 years old and caters to a particular crowd, but while some of their arguments are legitimate, every so often they are so dismissive one or other aspects of Bitcoin that they remind you of the ‘old man shouts at Bitcoin’ meme.
Read the full article at FullyCrypto: https://fullycrypto.com/when-will-the-financial-times-admit-defeat-over-bitcoin
Calvin Ayre has delivered a holiday greeting to the BSV cult members gang in a two-minute video that makes some startling predictions about the year to come. Ayre will be looking to bounce back from his terrible performance in his 2020 predictions where he said that BSV would become the most highly valued coin in the crypto space, among other spurious assertions. Let’s then fact check his claims about 2020 and see what he thinks 2021 will bring, and what his chances of success are this time round.
Read the full article at FullyCrypto: https://fullycrypto.com/calvin-ayres-bsv-holiday-message-a-fact-check
Bakkt, the Bitcoin-backed futures trading platform, will turn its attentions to consumer applications in the first half of 2020, with Starbucks named as a “launch partner”, seemingly confirming rumors that emerged last year that consumers would be able to spend in Starbucks directly with BTC. The news backs up rumours that surfaced back in the summer of 2018 that were initially denied and potentially clears the way for Bitcoin to break through into the mainstream.
Read the full article at FullyCrypto: https://fullycrypto.com/bakkt-turns-to-consumer-apps-starting-with-starbucks
PayPal CEO Dan Schulman has said that the traditional financial system is “not working” for low income people as he outlined in greater detail the company’s cryptocurrency plans. Fortune reported that Schulman made the comment during an investor call in which the company’s recent foray into cryptocurrencies naturally featured, with Schulman adding that the size of the waitlist for access was “two to three times” greater than the company had anticipated.
Read the full article at FullyCrypto: https://fullycrypto.com/paypal-ceo-financial-system-not-working-for-many