December 2, 2020

Cryptheory

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Crypto News of the Day (7.1.)| Bitcoin unsuccessfully attacked $ 8,000 • Help Australian firefighters show Bitcoin power • and more

4 min read
Crypto News of the Day (7.1.)| Bitcoin unsuccessfully attacked $ 8,000 • Help Australian firefighters show Bitcoin power • and more

Overview of the most important events that have taken place over the last 24 hours in the cryptoworld.

Markets


Cryptomarkets further strengthens with the influx of investors looking for alternatives to securing their funds due to the sharpening of the international situation. According to some analysts, it is a technical development that has nothing to do with the Middle East crisis. However, the fact is that Bitcoin is attacking $ 8,000, gaining over 4% in the last 24 hours only, despite a small slump during the night. Altcoins follow the dominant cryptocurrency and also predominantly grow.

You can monitor the current cryptocurrency prices – here.

Cryptocurrencies

State digital currencies and stablecoins

Markets and Banks

Blockchain/Technology

Bitcoin has a market cap greater than the physical money supply of 160 different countries, including United Kingdom


Bitcoin (BTC) has a current market capitalization around $ 131 billion. While this may fade compared to the value of global equities, which is $ 85 trillion, or the total global debt of $ 255 trillion, in most countries on the planet it is still more money than physical cash. The World Factbook monitors M1’s money supply in 194 different countries, with M1 being coins and physical cash plus deposits issued on demand. BTC’s market capitalization is higher than the M1 money supply of 160 different countries. Countries with a lower M1 money supply than the BTC marketcap include South Africa, Brazil, the United Kingdom, Israel, Greece and New Zealand. As has been said, most of the money in the world is not in the form of physical cash or coins, it’s actually about digital deposits and bonds.

The German central bank urges banks to create competition for Libra


Jens Weidmann, president of the German central bank and policy-maker at the European Central Bank (ECB), called on banks to adopt a cheaper and faster payment solution that would compete with the proposed stablecoin Libra from Facebook. “In a market economy, it is first up to companies to develop an appropriate offer for customer requirements.” In other words, Weidmann does not yet agree with the CBDC’s digital currency. Considers that it is necessary to define the advantages and disadvantages of CBDC first “Then we can decide if it is necessary and the risks can be controlled,” he said in an interview.

Bitbox will delist all XRP pairs

BITBOX announced that it will remove all XRP trading pairs from its platform by mid-January 2020. In a statement posted on their website on Monday (January 6, 2020), BITBOX announced its decision to cancel XRP. According to a blog post, cryptocurrency exchange LINE will remove its three listed XRP business pairs: XRP / BTC, XRP / ETH, and XRP / USDT. In the notification, BITBOX stated that XRP no longer met their standards.

The third largest Spanish bank integrated blockchain using Hyperledger Fabric

CaixaBank, the third largest Spanish lender in the market after Banco Santander and BBVA, has incorporated the enterprise blockchain platform we.trade into its client service suite. The consortium cooperated with IBM as a technology partner and the integration was done using Hyperledger Fabric.

US state of Virginia is investigating the possibilities of blockchain for elections

US state of Virginia is studying blockchain to improve elections and voting. On January 8, the General Assembly in Virginia will vote on a new law requiring further study of blockchain-based elections. The bill, House Joint Resolution 23, calls on the Department of Elections to determine whether blockchain technology should be considered as providing voter records and election results.

Help firefighters in Australia and show the world the power of Bitcoin

Board member of Blockchain Australia and founder of the YouTube channel Nugget’s News Alex Saunders urges his followers ” Let’s show the world the power of bitcoins” by donating to Australia using this digital currency. Saunders claims that all donations will go to help local fire services.

Crypto News of the Day (7.1.)| Bitcoin unsuccessfully attacked $ 8,000 • Help Australian firefighters show Bitcoin power • and more

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