Category: Cryptocurrency News

Crypto continues to see tremendous growth these past weeks. Prices of coins have soared across the board as sentiments continue to skew in the positive. Investors seem to be pouring back into the market, with the market showing patterns that indicate current buy pressure trends are higher than sell pressures. Accumulation patterns continue to show that investors are hoarding their coins instead of selling, as exchange reserves continue to plummet across the board. More good news continues to rock the market as crypto prices remain in an uptrend. Coinbase recently announced that its users can now buy coins on the platform using Apple Pay. This method was previously unavailable to customers. But Coinbase had, in June, earlier said that users were now able to use their Coinbase crypto card on Apple Pay and Google Pay. Related Reading | Wells Fargo Now Offers Cryptocurrency Investment To Clients This was a welcome development as it opened up new ways that crypto enthusiasts could use their crypto cards out in the world. But there still was no option to use Apple Pay to buy crypto, until now. Coinbase Adding More Payment Options The move by Coinbase is part of its efforts to add more safe and secure ways for its users to buy crypto. Adding payment options like Apple Pay ensures that users do not have to go through long processes just to get crypto-assets. And what’s more, Apple Pay remains one of the most trusted digital wallets presently. Coinbase uses the information that is already linked to users’ Apple Pay to facilitate crypto purchases. This means that if a debit card is already added to a user’s Apple Pay wallet, then they can pay for crypto purchases using an Apple Pay option that will appear on Coinbase. The process works with any Apple Pay-enabled iOS device or through a Safari web browser. Related Reading | Nigerians Move Almost $40 Million In P2P Bitcoin Trading In A Month In addition to this comes the ability for users to get instant cashouts of up to $100,000 on a single transaction. Coinbase has made this option available for users on the platform on a 24-7 basis, which means that users will always have access to cashouts, and this process is instant. While bypassing high, uncapped fees that are charged to customers when using ACH to cash out, and also reduces the length of time required for a withdrawal to go through. More Ways To Buy Crypto In addition to Apple Pay, Coinbase also announced plans to add in the option for users to be able to buy crypto using Google Pay later in the year. The feature is set to roll out in the Fall, which would open up over 150 million people in over 40 countries to the option of seamlessly buying crypto. Related Reading | Here’s What Happens To All Of The Crypto Assets The IRS Seizes These additions would add to their existing list of ways their users could already purchase cryptocurrencies. With U.S. customers being able to purchase crypto using debit cards, wire transfers, or ACH, or just using funds currently available in their Coinbase USD wallets. Coinbase continues to work on more ways to provide users access to buy crypto. Providing global access continues to remain a key focus, and on this note, Coinbase now allows users to purchase crypto using Visa and Mastercard credit and debit cards in over 20 countries presently. And the crypto exchange plans to add more countries to this list as time goes on. Total market cap recovers | Source: Crypto Total Market Cap on TradingView.com More methods of purchase are expected to be announced by the crypto giant which had gone public earlier this year. Just as well, the crypto market rages on as the total crypto market cap now sits at over $1.7 trillion presently. Inching close to the $2 trillion mark. Featured image from Fintechs.fi, chart from TradingView.com

Sorry for the rant, sick of reading the same stuff over and over again and I'd rather not unsubscribe. submitted by /u/eggeggplantplant [link] [comments]

The effect this could have on crypto is profoundly negative. But most in Congress couldn’t care less about the provision. Most of them don’t even understand what blockchain is. In all likelihood, this made it into the bill because of Janet Yellen and her corrupt bullshit (which we should continue to expose and highlight). But…
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There’s seemingly a constant conversation, particularly with those involved in legacy financial institutions, about how cryptocurrency can be – to a certain degree – “de-risked.” Can government mining, or merely taxation structure, address this? While many traditional financial players that are not crypto-first, but are crypto-adjacent (take Visa as a prime example) are relying on the use of stablecoins like USDC as their main pillar of transactions, there are other conversations happening about how crypto risk can be managed. Government bodies are always looking to get a piece of the pie; a large pitch of the state-by-state legalization of marijuana or sports gambling throughout the U.S. was the substantial tax revenue that states wouldn’t be seeing otherwise. In fact, just last month the Wall Street Journal published a piece outlining how governments across the globe are getting more involved in mining royalties and taxation, including a new silver and gold tax for mines in Nevada that went into effect last month. Taxation is the root of the domestic discussion around crypto for U.S. policy as we speak. Government Mining: Is It Feasible? Feasibility is of course, the first question to come to mind. Would governmental bodies have the capacity and know-how to truly execute crypto mining? The red tape is flowing. However, some argue that in fact, Bitcoin (and broader crypto) mining is becoming more and more adjacent to the likes of utilities and traditional mineral mining. Independent investment writer Natasha Che argued that indeed, crypto mining could be “the easiest way to de-risk Bitcoin.” Che makes some apt comparisons between the industries at that, noting that all of the aforementioned categories: need heavy capex investments have large economies of scale and have strategic geographic importance Che goes on to show that Bitcoin mining and gold mining actually have very similar geographical distributions. Furthermore, state involvement actually ends up getting deeper than sheer taxation. Che notes that because governments often own underlying natural resources and land, government bodies can directly control substantial portions of mineral mining resources. The same applies for utilities like gas, water, and electric as well. For many regions across the globe, there are more publicly-owned utilities than privately-owned ones, Che shows. The final point Che presents is that arguably the most intensive resource needed to mine Bitcoin, or any crypto really, is capital. “From both revenue and public-good motives, there are strong reasons for governments to get into the game, by either increasing taxes and royalties on miners, or by owning mining facilities directly,” says Che. Feasibility aside, the biggest pushback here from long-time crypto advocates has been that this arguably runs against Bitcoin’s very decentralized nature. However, with increased exposure and adoption over time, some degree of the discussion here is inevitable. As the old adage goes, “life, death and taxes.” Bitcoin and crypto taxation has been a focal point in domestic legislative discussions in the United States recently. | Source: BTC-USD on TradingView.com Related Reading | Bitcoin Accumulation Pattern Shows Rally Might Only Be In Its Early Stages Government Shifts: Looking Forward At the core of the broader mining and geographic discussion is of course, the long-time dependence of miners existing across China. However, the tides seem to be turning given China’s policy shifts towards mining, as our team covered just last week. Before China’s substantial crackdown, however, the share of miners throughout the country was already on the decline. Shouldn’t governments be looking to take advantage of what is seemingly an open door for a strong geographic distribution of crypto miners? Despite no substantial discussions domestically about crypto mining on a government level, there has been an increase in U.S. miners during the departure of miners from China. Arcane Research found that from September 2020 to April 2021, U.S. Bitcoin hashrate increased roughly four-fold, from 4.1% to 16.8%. Many would argue that government involvement in mining could allow for better usage of clear energy to mine, better processes and opportunities, and more – at the expense of taxation to government bodies.  Despite the apparent radio silence from most federal and state legislatures, government controlled funds could be holding an open door to crypto: earlier last month, our team also wrote about the New Jersey Pension Fund investing in two Bitcoin mining behemoths – Riot Blockchain and Marathon Digital Holdings. Furthermore, Wyoming state representatives have been vocal about being as crypto-friendly as possible. State senator Cynthia Lummis has been one of the loudest pro-crypto political figures recently, tweeting last month that “if you are in the #bitcoin mining space, please reach out. We WANT you in Wyoming.” Of course, we can’t forget about the tech and crypto hub that is constantly in the conversation too – Miami, FL. Could state-managed pension funds in the U.S., and broader political advocates, be the first entry for more formal governmental integration with crypto mining? Possibly, but we’ll need to hold our horses until at least more mainstream crypto ETFs find their way to mainstream markets (which are currently in the works). Even then, we’ll likely still have more miles to cover down this path. Arguably the biggest question mark around it all? How does this impact risk levels compare to past and present days? There’s no hard and fast answers here, though many believe that with increased acceptance, institutional buy-in, and a splash of governmental regulation, mainstream cryptos will likely see more “de-risking” as reliability on them increases. Related Reading | A Generational Bitcoin Buy Signal Is Almost Back Featured image from Pixabay, Charts from TradingView.com

Clifford Smith Jr., better known by his stage name Method Man from the rap supergroup the Wu-Tang Clan, announced plans to launch a non-fungible token (NFT) collection called “Tical World.” The tokenized comics and Killa Beez-centric art was designed by the New York artist Alex Smetsky. Wu-Tang Member Method Man to Launch Killa Beez-Centric NFTs […]

How can something be more sound than sound money? Please, explain without memes, and not from an investor or trading perspective but from a economic perspective. submitted by /u/Narumango22 [link] [comments]

The problem for regular banks is easy to understand; DeFi is a dangerous threat that would make them obsolete, prehistorical, slow and — worst of all — unable to milk us anymore in all sorts of fees, interests and other shady "investments". So our dear friends at Citi Group and Citadel found the oldest trick;…
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