Crypto News of the Day (19.2.) | Bitcoin over $ 10,000 again • CEO Ripple criticizes Bitcoin for excessive dependence on China • and other news
3 min readTable of Contents
Here you can find an overview of the most important events that took place during the last day in the cryptoworld.
Markets
Bitcoin fired again over $ 10,000, several times in recent days. But Bitcoin has been steadily growing over the past few months. He is currently holding just above $ 10,100. Most of the Altcoins are again significantly in green numbers and so the Bitcoin dominance continues to decline, now at 62.5%.
You can monitor the current cryptocurrency prices – here.
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Cryptocurrency
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Regulations, State cryptocurrency
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CEO Ripple criticizes Bitcoin for excessive dependence on China
Ripple takes a more aggressive stance towards Bitcoin. CEO Ripple Brad Garlinghouse told reporters in a recent interview that “China is running a bitcoin blockchain”. Garlinghouse criticized Bitcoin for the centralization of the miners. Bitcoin is run by four mining companies in China, ”says Garlinghouse, representing“ 60+% of mining capacity ”.
"China controls the Bitcoin blockchain. There are 4 miners in China that represent the 60%+ of mining capacity and 80% of mining capacity is based in China for Bitcoin and Ether."
— XRP_Cro (@stedas) February 17, 2020
– Brad Garlinghouse, CEO @Ripple
#xrp #fintech #crypto #blockchain @firstmove pic.twitter.com/lW8NHFldKu
Bitcoin options amounted to USD 100 million of daily trading volume
Trading bitcoin options is proving an attractive new trading tool. The Deribit platform is far from dominating with bitcoin trading volumes of around $ 100 million to $ 150 million in January, up from about $ 50 million the previous month. Bitcoin options also offer other platforms such as LedgerX, or a newcomer in the field, OKEx. Far smaller volumes are traded in options on ETH.
VanEck: Bitcoin will help build a new global financial system
VanEck’s chief, Gabor Gurbacs, posted a tweet stating that Bitcoin could serve as a basis for restoring most of the global financial system. Maybe there will be no other reasonable option, he adds. In the comments under the tweet, he says that this new system is already being created.
Most of the world’s financial system may be rebuilt on #Bitcoin. We might have no other sensible choice. Time will tell.
— Gabor Gurbacs (@gaborgurbacs) February 18, 2020
China disinfects banknotes due to coronavirus, there is no danger with cryptocurrencies
The Chinese Central Bank (PBoC) plans to disinfect billions of yuan banknotes in areas that are worst affected by coronavirus. The epidemic, which hit China’s political, economic and educational systems very hard, forced national authorities to take extreme measures to limit the spread of the virus. China is preparing to introduce the digital currency of the central bank, the digital currency would avoid the need for something so drastic.
Presidential candidate Bloomberg wants stricter rules for crypto and ICO
New Presidential US Presidential candidate Michael Bloomberg proposed financial reform plan to promote clearer cryptocurrency regulations, including as safeguards against future financial crises.
In the final part of the proposal, which focused on the US financial system, consumer protection and other areas, the candidate undertook to work with regulators to establish clear rules for cryptocurrencies. “Cryptocurrencies have become an asset class worth hundreds of billions of dollars, but regulatory oversight remains fragmented and undeveloped,” he said. “There is also a lot of hype, fraud and criminal activity in the world of blockchain, bitcoins and initial coin offerings.”
