Mythbusting: Why Bitcoin Can Never Go to Zero

Bitcoin’s polarizing effect has people on both ends of the scale either proclaiming it is going to the moon or it is going to zero. The volatile, unprecedented, and revolutionary monetary system that is cryptocurrency has a future that not many can accurately predict, but as time has gone on, the idea that Bitcoin is going to zero seems more and more far fetched. A number of commentators, just recently — when Bitcoin has been booming — have come forward with predictions of doom and gloom, warning investors that this…

Facebook Brings Back Crypto Ads, the ‘Woz’ Calls Bitcoin ‘Just Amazing’

Top Stories This Week Facebook Ends Cryptocurrency Ad Ban, Keep ICO Ban Active Facebook will no longer ban ads related to cryptocurrencies, but will maintain their ban on advertising Initial Coin Offerings. Crypto advertisers must now submit an application to Facebook, with acceptance for the ads pending on their eligibility. Nobel Prize Winner Robert Shiller Says Bitcoin Is “Epidemic of Enthusiasm” Economist Robert Shiller said this week that Bitcoin is a “social movement” that whose popularity is not reducible to a “rational response to new information.” Although Shiller did say…

Controversial Tezos Project Announces Launch of ‘Betanet’

The Tezos Foundation has launched its beta network, calling the move an “inflection point” for the project, according to an official statement June 30. According to Tezos’ statement, the team has proposed the genesis block of their so-called ‘betanet,’ and transactions can be processed on the network. The Tezos team also stated that users can start validating blocks or ‘baking’ after the first seven cycles, which they estimate to be in about three weeks. In their statement, the company encourages community members to take precautionary measures to ensure the security…

F1 Champ Fernando Alonso Moves Entire Digital Library to a Kodak Blockchain

Formula One world champion and recent Les Mans 24 winner Fernando Alonso will be one of the first known sportspersons to move his entire digital library to the blockchain. WENN Digital Inc and the driver have partnered up through the former’s KODAKOne Image Rights Management Platform to provide for the protection of the driver’s professional and personal images as well as his videos using the KODAKOne Platform. The agreement between Alonso and WENN Digital will provide an opportunity to Alonso’s global fanbase to access the soon to-be-launched KODAKOne Platform – enabling…

Bitcoin Price Weekly Analysis: BTC/USD Showing Recovery Signs

Key Points Bitcoin price made a short-term low near $5,800 and bounced back against the US Dollar. There was a break above a key bearish trend line with resistance at $6,280 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading with a positive bias above the $6,000 support area. Bitcoin price is showing positive signs against the US Dollar. BTC/USD may perhaps extend the current wave towards the $6,500 and $6,600 resistance levels. Bitcoin Price Support This past week, bitcoin price faced…

Ethereum Price Weekly Analysis: Can ETH/USD Break This?

Key Highlights ETH price managed to recover higher after forming a low near the $404 level against the US Dollar. There is a monster bearish trend line formed with resistance near $456 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair has to move above the $456 and $480 resistance levels to gain upside momentum. Ethereum price is facing a major resistance versus the US Dollar and Bitcoin. ETH/USD must clear the $456 hurdle to test the next hurdle at $480. Ethereum Price Upside Hurdles This past…

Bitcoin Cash Price Weekly Analysis: BCH/USD Facing Tough Resistance

Key Points Bitcoin cash price started a new upside wave from the $650 support area against the US Dollar. There are two bearish trend lines formed with resistance at $770 and $810 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair must break and settle above the $800 resistance zone to gain upside momentum. Bitcoin cash price is slowly recovering above $700 against the US Dollar. BCH/USD has to move past the $800-810 barrier to remain in a bullish zone in the near term. Bitcoin…

Floods in China Heavily Damage Major Crypto Mining Operation

Recent floods in the Sichuan province of China have reportedly resulted in heavy damage to a major cryptocurrency mining operation in the area. The news was published on a local blockchain and crypto information platform Golden Finance (金色财经) June 30. Ecns, the official English-language outlet of the China News Service (CNS), has reported that Sichuan and four other provinces in China experienced heavy rains on June 27 and 28, resulting in floods. Golden Finance claims that a major cryptocurrency mining operation in Sichuan has been heavily affected, leading to a…