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It has been a good week for Bitcoin. After languishing around $ 6,700, the cryptocurrency has risen more than 6 percent in the past week to hover above $ 7,000. And the next halving is now less than three weeks away.
Changpeng Zhao is looking beyond. It predicts that in a few months, as governments implement quantitative easing measures to stabilize the economies affected by the coronavirus, Bitcoin will rise. “Math works,” he told BlockDown 2020, a two-day virtual conference. “If the supply of the fiat currency is increased and Bitcoin is a limited asset, the math will finally work.” For crypto services like DigitalMint and LibertyX, it’s good news. They have been expanding their spread of Bitcoin ATMs. The movement of digital currencies certainly looks better than that of oil. While the barrel of crude oil fell into negative territory for the first time, Bitcoin barely budged.
Not all the old things that are unearthed are useless. A 21-year-old post on the Cypherpunks mailing list has led to speculation that it was written by a young Satoshi Nakamoto. The post describes a form of electronic money, and mentions many of the themes that came to define Bitcoin.
There may be good news for anyone who has lost money on their cryptocurrency trading this year. It’s complicated, but relief from the IRS from the virus could mean it is now easier to make up for losses. And the virus could create new opportunities for blockchain at its birthplace. A report on China’s blockchain industry response to COVID-19 suggests that monetary policies will push people toward digital currencies.
In the US, a federal judge has issued orders for the arrest of David Schmidt and Robert Dunlap. Schmidt is a former Republican state senator in Washington. He and Dunlop are alleged to have sold Meta 1 tokens that they claimed were backed by $ 1 billion in fine art or $ 2 billion in gold. The Securities Commission froze the cryptocurrency’s assets and accused the company’s operators of fraud, claiming that there were no tokens. The defendants, along with Nicole Bowdler, who claims to be “an angel from Earth” in contact with the angel Metatron, were charged with fraud.
Libra hopes the government will be more lenient with its plans. The association has revised its white paper in an attempt to meet the demands of US regulators. At least two members of the House Financial Services Committee are not impressed. Outside of the US, Facebook remains bullish on its digital currency. He is looking for 50 new workers to add to his 5,000 team to work at Calibra.
In Japan, one of the country’s largest advertising companies plans to use blockchain to reward people who comment on manga, even though those comments may include copyrighted material. And in Malaysia, the police have arrested fourteen Chinese men for their involvement in an alleged Bitcoin scam. Men are said to have masqueraded as wealthy investors.
And finally, some good news. The corporate blockchain, Hyperledger Fabric, is bringing confidence to difficult but vital markets, such as that of aerospace parts. A survey has found that not all drugs are in crypto markets. 15% of digital spending goes on clothing and 14% on food. All that clothing shopping must be starving people. And Upland players spent $ 1,236 on Tier 3 Easter egg properties to raise money for the NYC battle with the coronavirus. Uplandme, Inc. matched that expense to donate $ 2,500 to the New York City COVID-19 Response and Impact Fund.
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Joel Comm He is an internet pioneer, New York Times bestselling author, futuristic speaker, and co-host of The Bad Crypto Podcast. It’s a fancy way of saying that spells words, says things, and loves to play with cryptos.
The views, thoughts and opinions expressed here are those of the author only and do not necessarily reflect or represent the views and opinions of Cointelegraph.
