Huobi Expands Services With Turkish Lira

Huobi, a prominent cryptocurrency exchange based in Singapore, has unveiled plans to increase the ease of access for individuals trading in the Turkish currency, the lira. The company announced this move via press release on October 18, 2019. It claims that its lira gateway will be the first of its kind for a global cryptocurrency exchange and will include full language localization and a Turkish-based team, as well as a mobile app and reduced trading fees. Huobi and Bitcoin Expansion in Turkey This latest announcement is a continuation of Huobi’s…

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Bitcoin Price Analysis: Grinding Market Slowly Drives Through Support

The bitcoin market over the last few days has been a series of grinding support/resistance tests that have brought us lower and lower toward our macro support at the $7,700s. So far, the market’s macro structure is holding support, but we are currently on our way toward a fourth test of major support — if we break that level, the drop could be fairly aggressive. The downside price target for a break of support would have us testing the mid- to upper-$6,000s. However, if we manage to hold support, the…

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Canaan Expects $1 Billion-Plus from AvalonMiner Sales in 2020

This article was originally published by 8btc and written by Lylian Teng. Canaan Creative, the world’s second-largest bitcoin mining machine manufacturer, said it expects to sell 1 million bitcoin miners in 2020 as buying interest increases. Chen Feng, sales director of the Hangzhou, China-based company, said in a live streaming interview with 8btc that the company had already received letters of intent demanding 500,000 units in total of its latest, powerful A10 and A11 miners, and they expect the number to surpass 1 million in 2020. As the company’s official…

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Op Ed: Stablecoins Report Illustrates That G7 Leaders Don’t Understand Bitcoin

A G7 working group focused on the potential effects of stablecoins on the global economy has released a new report. In it, the working group indicates that bitcoin has failed to act as a reliable store of value or medium of exchange for its users. The report focuses heavily on the potential implications of widely used stablecoins, which are virtual tokens intended to track the value of various real-world assets such as the U.S. dollar or gold.  The report makes clear that the authors misunderstand why bitcoin was created in…

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Signet Could Give Bitcoin a More Stable, Predictable Testnet Option

What’s better than the current Bitcoin testnet? A testnet that is highly predictable. This is the goal of the Bitcoin signet, a new sort of testnet proposed by Karl-Johan Alm, for which the one-word description would be “stable.” What Is a Testnet? Bitcoin developers need a place to test things out. That’s why we have two “versions” of Bitcoin: the mainnet (where everything is real and the coins have value) and the testnet (which mimics the mainnet but the coins have no actual value).  The fact that the coins on…

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Bitcoin as a Savings Technology: Are Interest Accounts Worth the Trade-Offs?

A new meme has begun circulating among Bitcoiners. Much like the “be your own bank” and “digital gold” memes before it, it’s straight and to the point. Bitcoin is savings technology.  Don’t believe me? Check out this website and see how your bitcoin stash would be holding up depending on if you bought X amount on Y day (this does assume a dollar-cost averaged or, as the hip kids says these days, “stacked sats”). Another way to look at it: Bitcoin has been profitable to hold (up to the time…

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Bitpanda Launches Quick Payment Service for Fiat Settlement

Viennese cryptocurrency exchange Bitpanda has launched Bitpanda Pay, a service designed to let users transfer funds directly from their Bitpanda accounts into EU bank accounts and to pay their bills. Announced in an official blog post on October 16, 2019, the new service lets customers send funds from their exchange accounts to any International Bank Account Number (IBAN), the standard numbering system for bank accounts in Europe. With Bitpanda Pay, users can also settle their bills in fiat and send money to others.  Bitpanda Pay is run by Bitpanda Payments,…

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Blockstream Green Wallet Adds Early Access Tor Integration

Privacy and a clean UX design have often been at odds in cryptocurrency apps. But there’s no reason why a bitcoin wallet app can’t have both.  Blockstream’s newest version (3.2.4) of its bitcoin wallet, Blockstream Green, is a legitimate step forward in combining these two attributes that have previously proven to be far more complex to deploy simultaneously. A Tor Bitcoin Wallet for iOS Apps Within this newly updated version of the wallet is an optional, in-app onion routing network (Tor) integration for both Android and iOS users. Before this…

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BlockFi Introduces Institutional Services for Digital Assets

BlockFi, a nonbank lender of crypto assets, has announced that it’s opening a new platform for institutional investors.  BlockFi Institutional Services is set “to give market-makers, funds, exchanges, and family offices access to enterprise-grade financing solutions for digital assets,” according to the company. Digital Assets Services for Institutional Investors The drive to serve cryptocurrency investors with institutional options was inspired by BlockFi’s own growth. “We have been active in the market for over a year,” BlockFi founder and CEO Zac Prince told Bitcoin Magazine. “As the team and business grew,…

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Cartoon: Retail Blues

Despite the promises that bitcoin will be used for everyday purchases, many businesses that were initially bullish have stopped accepting cryptocurrencies (e.g., Expedia). Instead, many think they can turn to “blockchain” to improve their own business systems (e.g., reducing credit card fees and managing loyalty programs). Further Reading: Op Ed: Is the Age of Bitcoin-Powered Discounts Finally Upon Us? The post Cartoon: Retail Blues appeared first on Bitcoin Magazine.

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