Check out this week’s Bad Crypto podcast. Bitcoin was down a bit this week, stopping just above $11,000. That increase in volatility is only to be expected, say some experts, as we approach the end of some BTC futures and options contracts. Other contributors to increased volatility include Bitcoin’s long period of consolidation and a…
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China is not the only country that wants control of this highly coveted industry. Taras Kulyk, Senior Vice President of Blockchain Business Development at Core Scientific, says that the countries competing to become leaders in the Blockchain space vary greatly in what they can offer to crypto miners. During an interview with Cointelegraph, Kulyk stated…
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Foreign investors still doubt the PBoC’s policies when it comes to the RMB exchange rate. Eswar Prasad, a professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution, believes that even though China’s digital yuan will enhance the renminbi’s role as an international payment currency, it will “hardly put a…
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The halcyon days of state subsidized electricity are over. Officials from Inner Mongolia are mulling an electrical policy that would prevent cryptocurrency miners from using inexpensive, state-subsidized electricity. Per the Inner Mongolia Electric Power Group Co, the region expects to recover around 6.732 billion yuan ($977 million) in taxes and fees thanks to these new…
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Beijing’s strategic vision is to use blockchain technology, artificial intelligence, big data and 5G in social assistance system reforms. The Chinese Communist Party has identified blockchain as a key tool for its innovation of nationwide social services. On Aug. 25, the General Office of the Central Committee of the Communist Party of China and the…
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Ethereum co-founder shares his opinions on China’s blockchain progress and the Blockchain Service Network. The progress of the Chinese government and large enterprises in the blockchain space is impressive. However, according to Ethereum co-founder Vitalik Buterin, they may need to do more than just deploy and build on private or semi-private consortium blockchains to gain…
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The 2020 pandemic could accelerate global efforts to issue CBDCs, say BIS analysts. A new report from the Bank for International Settlements (BIS) shows that 2020 is the year that momentum behind central bank digital currencies (CBDCs) has truly taken off. Published on Aug. 24, BIS’ new working paper analyzes the global state of CBDC…
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Check out this week’s Bad Crypto podcast. It’s back to stability for Bitcoin this week as the currency continues to knock at the $12,000 ceiling. Where will it go next? One analyst sees a Battle Royale as whales try to push towards $14,000. Other investors are more optimistic. They see Berkshire Hathaway’s recent sale of…
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What are CBDCs and the risks they possess, and how might they reshape our economies? Central bank digital currencies are a digital representation of a country’s fiat currency. They are effectively a government-issued cryptocurrency designed to replace the traditional, physical form of fiat currencies. The term CBDC is broad because its implementation involves several critical…
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Bitcoin’s macro bullish trend remains intact even after data show Chinese investors moved $50 billion in crypto to overseas addresses in the past 12 months. New data from Chainalysis shows Chinese investors reportedly used Tether (USDT) to move nearly $50 billion overseas. This has led some crypto investors to question whether or not Bitcoin price…
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