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So, Bitcoin in correction mode?

Again the coin sector crashed after a concerted bad mouthing action started by Elon Musk, followed by Warren Buffet, etc.

bitcoinDo not lose faith! The destruction of fiat can only lead to higher coin prices, in the long run.

We are feverishly finishing off our exchange project CME (Crypto Master Exchange), which will feature the following:

  • instant exchanges between the major crypto currencies and fiat
  • no commission!
  • tokenisation platform for your assets
  • interest bearing securities in crypto
  • loans against crypto collateral
  • visa card drawing on your coins
  • all done with license, offshore subsidiaries to keep you tax free

Please sign up here, so we can inform you once our service is available:

Waitlist CME coin buster

 

  • Bitcoin
  • Ethereum
Scan to Donate Bitcoin to bc1q6htcx5mu6ahwc8vvhhu9gg0ng5re0gm6696jqx

Donate BTC or ETH to this address

Scan the QR code or copy the address below into your wallet to send some bitcoin

Tag/Note:- Donations gladly accepted in btc
Scan to Donate Ethereum to 0x26cfE3a86a9D59ad67aB3644fb53D89060F5cd7F

Donate BTC or ETH to this address

Scan the QR code or copy the address below into your wallet to send some bitcoin

Tag/Note:- Donations gladly accepted in ETH

Featured post

What helps in Corona times? Steroids..

Cheap and readily available steroids have been found to reduce the risk of death in critically ill coronavirus patients by 35 per cent, according to a study.

An international team of researchers analysed seven trials involving three different types of anti-inflammatory corticosteroids.

These are the types of steroids used by the NHS to treat a wide range of conditions, and the same  anabolic steroids which are used by some to gain muscle mass.

You can get all you need here, super quality and reasonably priced. They even accept bitcoin as payment option.

Roidgear.net will now accept Bitcoin and Other Cryptos

Roidgear.net will now accept Bitcoin and Other Cryptos

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How You Can Spend Your Bitcoin Fortune wisely

How You Can Spend Your Bitcoin Fortune wisely

http://bargeldwillkommen.com/wp-content/uploads/2014/06/BellaVista_sample.jpgLet’s face it: Having only crypto will not make for a good life. And crypto now is high, very high. A correction is in the cards, so why not lock in the insane profits and convert it to something you can touch, see, feel and use? At  a bargain?

A friend of mine is offering this one-of-a-kind real state in the Caribbean, a true mansion, your neighbors will be Schmid from Google, and other hi-flyers. Cabarete, one of the six important surf and kite surf locations in the world is just 5 minutes by car.

He is very motivated to sell as he needs to go back to Europe to take care of his elder parents.

Go and have a look for yourself

Or here first a video:

 

Coinbase erhält BaFin-Lizenz: Darauf können sich Anleger freuen

Coinbase
Als erstes Unternehmen überhaupt erhält Coinbase Germany Erlaubnis der BaFin, das Kryptoverwahrgeschäft in Deutschland zu erbringen. Und die kommt gerade recht: Coinbase hat hierzulande einiges vor.
 
Source: BTC-ECHO

Der Beitrag Coinbase startet in Deutschland: Darauf können sich Anleger freuen erschien zuerst auf BTC-ECHO.

Bitcoin Outflows von zentralisierten Börsen steigen auf 100.000 BTC

Ein kleiner Bach fließt von seiner Quelle weg.
Die Analysefirma Glassnode stellt einen erhöhten Bitcoin Outflow von zentralisierten Krypto-Börsen fest. Gleichzeitig werden weitere Banken zum Portal in den Krypto-Space.
 
Source: BTC-ECHO

Der Beitrag Bitcoin Outflows von zentralisierten Börsen steigen auf 100.000 BTC erschien zuerst auf BTC-ECHO.

NFT-Newsticker: NFL-Legenden bringen NFT-Kollektion heraus

NFL
War es zum Jahreswechsel noch der DeFi-Space, der die Nachrichtenlage des Kryptomarktes beherrschte, sind es seit geraumer Zeit nun Non-fungible Token (NFT), über die täglich neue News erscheinen. Im NFT-Newsticker widmen wir uns der Sparte und berichten immer aktuell über die Entwicklungen.
 
Source: BTC-ECHO

Der Beitrag NFL-Legenden bringen NFT-Kollektion heraus erschien zuerst auf BTC-ECHO.

Ethereum ‘Hard Fork’ Means Lower Gas Fees and Higher ETH Pricing

  • EIP-1559 introduces ‘rent control’ on gas fees, and periodic token burning to limit the available supply of ether creating pricing pressure
  • While there is a lingering threat of disillusionment from miners and app developers should the upgrade fail to deliver promised improvements, all metrics show its full steam ahead

This week the Ethereum blockchain is set to undergo a significant transformation or “hard fork” as it’s called in the open source world.

In software parlance, a hard fork is a split in the underlying base code of the software that takes it a different direction than before. Common in the blockchain and Web3.0 world, a hard fork allows groups with a different vision to take software in a different direction from the founders’ vision. In the Ethereum world, nodes on the blockchain get to vote on whether to approve the fork.

The London hard fork (a.k.a. EIP-1559) upgrade set for Aug. 4 not only promises something akin to rent control for Ethereum’s notoriously high gas fees, but it will also limit the supply of ether tokens which should create pricing pressure. 

Pricing pressure is pushing some researchers to predict an increase in ether pricing — anywhere from $5,000 to $10,000.

Progress so far

So far, the much-anticipated EIP-1559 upgrade as part of the ‘London’ hard fork appears to be going smoothly and options data shows investors are anticipating pricing gains to kick in as early as the fall. 

According to pricing data aggregated from Derebit, a significant amount of support via open interest if forming for options calls with a strike price of $5,000 with a contract expiry of December 31. Support is also rising around the $8,000-$10,000 mark as well. 

Dec 31, 2020, ETH strike prices

For contracts that expire on September 24, significant support between the $3,200 and $5,000 mark also exists. 

Sept. 24, 2021 ETH strike prices

As demand on the Ethereum blockchain has rapidly increased due to the success of decentralized finance (DeFi), the blockchain itself has become strained. 

With this strain, gas fees have become astronomical; at times costing more than a wire transfer. Going forward, there will be much more price predictability within the market with gas fees quoted as a fixed versus moving price. In addition, a portion of these fees will be burnt or destroyed, thereby creating a mechanism of extra scarcity within the network putting upward pressure on price. 

Jeff Prestes, a Senior Blockchain Engineer at Hermez Network, a layer 2 solution provider that allows for low-cost funds transfer via Ethereum says “everything is set” on their end for the fork. 

Prestes told Blockworks that he’s looking forward to the transition over as it will mean that gas fees become cheaper and more predictable.

Even though EIP-1559 will significantly reduce the gas costs, they won’t be free, which is why Hermez Network — a gas-fee friendly payment protocol built on top of Ethereum (this is known as ‘layer 2 infrastructure) — and similar platforms will still have a use case because there will be continued demand to optimize transactions around network congestion so that users get the lowest possible gas fees.

The value of scarcity

While bitcoin is well known as ‘digital gold’, Lucas Outumuro, head of research at Into the Block, said that EIP-1559 will “fundamentally change” the way we value ether.

In a Twitter thread, Outumuro argued that ether’s value is more closely related to the volume of transaction activity which isn’t the case with bitcoin. And with this transaction activity, value is created through fee generation.   

But, Outumuro noted, all this value-add through fee generation still leaves ether with 40% of the market cap of bitcoin — because of bitcoin’s inherent scarcity. Without the burn mechanism set to be introduced from EIP-1559, this is simply something that ether doesn’t have.  

“One reason for BTC’s relative premium is its fixed supply, potentially making it better suited as an asset to store value long-term than one with endless supply With EIP-1559, ETH is taking the first step towards reducing issuance, with supply projected to peak Feb 2022,” he tweeted, adding that the on-chain activity thriving in NFTs, gaming, and DeFi makes it the store of value for the decentralized economy.

The London hard fork is set to be implemented on August 4 between 13:00 UTC and 17:00 UTC. 

Currently, the price of ether is trading at $2,627.53, according to CoinGecko

The post Ethereum ‘Hard Fork’ Means Lower Gas Fees and Higher ETH Pricing appeared first on Blockworks.

Is Congress’s Infrastructure Deal a Threat to the US Crypto Industry?

  • $1.2 trillion infrastructure deal is financed in part through stronger tax enforcement around cryptocurrencies
  • Senator Pat Toomey released a statement Monday saying he planned to offer an amendment to fix what he called “unworkable” text in the provision

A portion of the $1.2 trillion infrastructure deal currently being considered by members of Congress “poses an imminent threat” to the US crypto industry, according to a dozen blockchain associations.

The deal, which includes $550 billion of investment in US infrastructure, is financed in part through strengthening tax enforcement around cryptocurrencies, according to a White House fact sheet.

The federal government could raise $28 billion in the next 10 years through these taxes on crypto, the New York Times reported, according to an estimate by the Joint Committee on Taxation.

But a provision of the bill called “Enhancement of Information Reporting for Brokers and Digital Assets,” which offers guidance for traditional cryptocurrency exchanges to report to the IRS, puts new reporting requirements on individual players in the industry who have no way to comply, blockchain association leaders wrote in an open letter to Congress on Friday.

“These individuals will be faced with impossible-to-fulfill reporting requirements that could thwart critical investments in our economy and communities within our states,” the letter states. “Smaller tech companies will inevitably begin to move overseas in order to avoid these unfeasible reporting requirements and continue operating.”

The portion of the bill could be interpreted to apply to people who don’t have access to the information required to be reported, Kristin Smith, executive director of the Blockchain Association, explained in a statement. 

Senate Finance Chair Ron Wyden also shared concerns in several Twitter posts on Sunday, noting that the provision to the infrastructure bill is “an attempt to apply brick and mortar rules to the internet” and does not understand how the technology works.

“This seems very rushed, and that hurried implementation could lead to unintended consequences,” Nick Du Cross, head of UK compliance and regulatory affairs at CoinShares, told Blockworks in an email. “Also, based on precedent from other countries, it is likely that some companies may respond to the legislation by simply moving all or part of their operations abroad.”

A spokesperson for Republican Sen. Rob Portman, one of the main authors of the infrastructure bill, has told media outlets that the legislative language does not force non-brokers, such as software developers and crypto miners, to comply with IRS reporting obligations.

Rather, the representative said, it clarifies that any person or entity acting as a broker by facilitating trades for clients and receiving cash must comply with standard information reporting.

The New York Times reported Monday morning that lawmakers revised the bill to further clarify the definition of a broker by removing language involving decentralized exchanges or peer-to-peer marketplaces. It instead characterizes brokers as anyone “responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person.”

“Yes there were concessions but the latest language can still be interpreted by [the] Treasury to cover miners, lightning nodes, and the like,” Jerry Brito, executive director of Coin Center, said in a Twitter post. “If that’s not Congress’s intent, there are easy fixes they can adopt. There’s still time.”

Jake Chervinsky, general counsel of Compound Labs, also took to Twitter on Monday to say the crypto provision was moving in the right direction, but that he still had concerns.

“We may reach a point today (or later this week) where our fate rests in the hands of a few Senators,” he wrote, “[and] we need to light up their phones with 1,000s of calls in support.”

US Senate Banking Committee Ranking Member Pat Toomey, a Republican from Pennsylvania, released a statement Monday saying he planned to offer an amendment to fix what he called “unworkable” text in the provision.

“Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences,” he said. “By including an overly broad definition of broker, the current provision sweeps in non-financial intermediaries like miners, network validators, and other service providers.”

Though Majority Leader Chuck Schumer aims to get the bill through the chamber before the Senate leaves for a month-long recess on Aug. 9, the legislation would have to go through the House of Representatives, whose members don’t return from their break until Sept. 20.

“As this bill continues to move through the Senate, we urge senators to clarify that the language doesn’t capture non-custodial entities in the digital asset ecosystem,” Smith said. “We look forward to continuing this dialogue and sincerely thank Senate offices for their engagement and attention to this issue so far.”

Want more investor-focused content on digital assets? Join us September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket. Buy it now.

The post Is Congress’s Infrastructure Deal a Threat to the US Crypto Industry? appeared first on Blockworks.

Equities Lose Gains, Yields Inch Lower: Markets Wrap

  • US stocks erased gains made earlier in the session and closed mostly lower following slower-than-expected manufacturing data
  • 59% of S&P 500 companies have reported so far and 88% of these have beaten Wall Street earnings estimates

US stocks erased earlier gains late in the trading session Monday and Treasury yields continued to slide following disappointing manufacturing data.

Equities started off strong Monday morning, largely paring losses from the prior session, before closing mostly lower. Monday’s July manufacturing data showed that there was some growth in July, but pace slowed for a second straight month as supply chain and bottleneck issues persist.

10-year Treasury real yields, which reveals the expected inflation impact over the next decade, continued declines and fell to minus 1.16%.

Second quarter earnings continue this week with better-than-expected data. 59% of S&P 500 companies have reported so far. 88% of these have beaten Wall Street earnings estimates, according to research from DataTrek. Uber and Lyft are scheduled to report earnings this week.

Earnings growth rate for S&P 500 companies is on track to hit an expected 85.1%. If met, this would be the biggest jump since the fourth quarter of 2009, according to data from FactSet.

Equities

  • The Dow fell -0.28%.
  • S&P 500 declined -0.18%.
  • Nasdaq gained 0.06%.

Insight

Nicholas Colas, co-founder of DataTrek Research, weighed in on second quarter earnings reports.

“Back in 2019, the S&P 500 earned $163/share. We’re running 23 percent higher right now ($50/share in Q2, $200/share annualized) which, given everything that happened, is nothing short of astounding.”

DeFi

  • Uniswap is trading at $22.40, down -2.21% in 24 hours at 4:00 pm ET.
  • Chainlink is trading at $23.18, declining -1.79% in 24 hours at 4:00 pm ET.

Crypto

  • Bitcoin is trading around $38,831.15, down -5.48% in 24 hours at 4:00 pm ET.
  • Ether is trading around $2,595.83, falling -2.23% in 24 hours at 4:00 pm ET.
  • VIX is up 1.22% to 19.46 at 4:00 pm ET.

Fixed Income

  • US 10-year Treasury yields 1.18% as of 4:00 pm ET.

Commodities

  • Brent crude is up to $76.39 per barrel, advancing 0.08%.
  • Gold fell -0.53% to $1,813.22.

Currencies

  • The US dollar lost 0.1%, according to the Bloomberg Dollar Spot Index.

In other news…

Voyager Digital is set to acquire crypto payment platform Coinify in an attempt to accelerate its international expansion and bolster capabilities in the payment space. The buy will give Voyager’s customer base of about 1.8 million users a way to make payments from their Voyager accounts.

That’s it for today’s markets wrap. I’ll see you back here tomorrow.

Want more investor-focused content on digital assets? Join us September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket. Buy it now.

The post Equities Lose Gains, Yields Inch Lower: Markets Wrap appeared first on Blockworks.

Bitmain Sells 30K Miners to Marathon Digital for $120M

  • Marathon anticipates all 30,000 miners to ship from Bitmain between a six-month period from January 2022 and June 2022
  • If all of Marathon’s miners were running today, the company’s hash rate would represent approximately 12% of the bitcoin network’s total hash rate, it said.

China’s largest maker of cryptocurrency mining machines, Bitmain, has sold 30,000 miners for $120.7 million to Marathon Digital, a publicly-listed digital asset technology company that mines cryptocurrencies, according to a press release on Monday. 

Beijing-based Bitmain is no stranger to selling mining equipment. Within the blockchain mining space, it has shipped billions of application-specific integrated circuit (ASIC) miners, accounting for 75% of the global market, according to its website. ASIC miners are electrical circuits designed to mine bitcoins and other cryptocurrencies. 

Marathon anticipates all 30,000 miners to ship from Bitmain between a six month period from January 2022 and June 2022, it said. With the new purchase, the company’s total miners will increase about 30% to approximately 133,000 bitcoin miners, producing 13.3 EH/s, said Fred Thiel, Marathon’s CEO. 

“Increasing our percentage of total network’s hash rates increases our probability of earning bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations,” Thiel said. 

If all of Marathon’s miners were running today, the company’s hash rate would represent approximately 12% of the bitcoin network’s total hash rate, which was approximately 109 EH/s as of August 1, the company said. For reference, 1 EH/s is one quintillion hashes per second.

“As a result, once all miners are fully deployed, our mining operations will be among the largest, not just in North America, but globally,” Thiel said. 

In general, many mining firms are moving operations from China to North America, after Beijing banned bitcoin mining in June. The “great mining migration” out of China has become a decentralizing force and drive in moving a sizable portion of mining companies to North America in search of new homes for mining facilities, Blockworks previously reported

In recent months, Beijing called for a crackdown on China’s crypto mining industry, which was home to over 65% of global mining capacity. According to reports, more than 90% of China’s bitcoin mining capacity is expected to close, just weeks after the ban in China’s Qinghai province was announced. 

July bitcoin hashrate

Separately, the observed global hash rate for July dropped about 20% from 120.1 EH/s in June to 100.3 EH/s in July, according to Glassnode data shared in a recent report by Michael Del Grosso, a managing director at Compass Point Research & Trading. A lower global hash rate essentially equates to an easier ability for existing operations to mine bitcoin, the note said. 

Compass Point also estimates that the global hash rate will be 2% higher by the end of 2022, but wrote that their estimates might be overly conservative due to the unclear and eventual outcome from the Chinese mining displacements.

Marathon shares (MARA) were last trading up $1.05, or 3.8%, at 28.68 as of 2 pm ET on Monday.

The post Bitmain Sells 30K Miners to Marathon Digital for $120M appeared first on Blockworks.

Voyager Digital Acquires Crypto Payment Platform Coinify

  • Acquisition comes as Voyager’s customer base grew by 1,400% in the first half of 2021, and will allow for its 1.8 million users to make payments from their accounts.
  • Move comes as payment giants Mastercard and Visa have been “pretty loud” in recent months about their crypto involvement, Voyager CEO says.

Voyager Digital is set to acquire crypto payment platform Coinify in an attempt to accelerate its international expansion and bolster its capabilities in the payment space.

The buy will give Voyager’s customer base of about 1.8 million users a way to make payments from their Voyager accounts.

Voyager CEO Steve Ehrlich said that the firm had been mulling the best way to enter the payment space for “quite some time,” noting that the company views the segment as Voyager’s  next evolution.  

“We felt that the strength of our team and the resources we had were better served elsewhere, and the acquisition of the payment business was something we felt at the right price, with the right team and the right culture … would get us to market faster than trying to find other members to advance into our team,” Ehrlich told Blockworks.

In the early years of crypto, firms in the space were focused on proof of concept and initial market share, said Donald Putnam, managing partner at Grail Partners. 

“Now, we enter the consolidation phase, where the game is all about global scale, and each M&A deal needs to either add to the vertical integration of tech stack or add scale to an existing vendor,” he explained in an email to Blockworks. “These new global competitors will not obsess about adding market share organically – there is time for that in the third phase, which is all about bundling and pricing.”

Why Coinify and why now?

Founded in 2014, Coinify allows individuals to buy and sell crypto and offers products for businesses allowing them to accept payments in virtual currencies, among other services.

Voyager will utilize Coinify’s virtual currency payment platform available in Europe, Asia, North America and South America. The company’s services include individual payment processing in 15 cryptocurrencies and transaction settlement in 20 fiat currencies through Coinify API.

Ehrlich said that Voyager’s motivation to enter the payment market grew as Mastercard and Visa have been “pretty loud” about their growing involvement in crypto in recent months. 

Mastercard announced last month that it was looking to simplify the conversion from cryptocurrency to traditional fiat currency by partnering with companies to issue cards and facilitate the conversion through fiat-backed stablecoins. In April, the payment giant was selected as the exclusive card network for Gemini’s bitcoin-backed credit card.

Meanwhile Visa has added to its crypto division this year, and has partnered with 50 crypto platforms on card programs that allow users to convert and spend digital currency at 70 million merchants. The company reported that consumers spent more than $1 billion worth of cryptocurrency on goods and services through Visa’s crypto-linked cards in the first half of 2021.

Ehrlich said that there have also been more “smart people” talking about accepting crypto. He noted billionaire Mark Cuban’s announcement in March that dogecoin could be used to pay for tickets and merchandise for the Dallas Mavericks, the basketball team he owns.

Voyager’s user base grew about 1400% in the first six months of 2021, the company reported. Many are small- to mid-size business owners, Ehrlich said.

“People are going to want to use payment rails for crypto, especially for the stablecoins,” he added. “We partnered with Circle as well and we’ve seen what they’ve done, and we have a huge community that wants to use crypto.”

Compass Point senior analysts wrote in a June research note that Voyager’s zero-commission trading model, broad array of crypto trading pairs and large number of coins gives it a stronger value proposition than competitors like Coinbase, Square and PayPal.

The value proposition 

The Compass Point added that Voyager’s position in the crypto space and earmarked marketing spend could result in $1 million incremental funded accounts and drive $11 billion assets under management by the end of 2022. 

Under the terms of the share purchase agreement, the consideration to Coinify shareholders will consist of 5.1 million newly issued shares of Voyager Digital common stock and $15 million in cash, the firm announced.

Coinify CEO and co-founder Mark Hojgaard said in a statement that joining Voyager would allow the firm to rapidly grow merchants utilizing Coinify’s payment processing technology.

“The combination positions Voyager as the go-to choice for businesses and individuals seeking an efficient transaction vehicle for a wide range of purchases globally,” he said. 

Going forward, Ehrlich said Voyager will consider acquisitions and partnerships to help it enter other potential areas of interest, such as custody, wallet services or retirement products.

“We take a really broad-based financial service approach to everything we do,” he said. “We’re trying to gauge where we think the market’s going to go in the next three-plus years, and so when there’s an opportunity for us, we’ll take a look at it.”

The post Voyager Digital Acquires Crypto Payment Platform Coinify appeared first on Blockworks.