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Will A Digital Currency Be Issued By An American Firm In The Near Future?

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Questions are lingering over which U.S. firm is going to be the first to issue its own digital currency. Already Eastman Kodak has disclosed that it is considering unveiling a cryptocurrency. A Kodak brand licensee, Wenn Digital, is expected to issue these new coins meaning that it will not be exactly a product of Eastman Kodak.

According to most digital currency investors the adult entertainment sector is going to be the first to issue its own virtual coin. Also touted as likely to issue a digital currency are gamer apps. According to an angel advisor and investor in the Bay Area, Elena Masolova, there is speculation that adult website Pornhub with its half a billion users will join blockchain.

Masolova added that the management of the adult website had been taking part in blockchain conferences of late. Per Masolova a gaming firm known as WarGaming was also a likely candidate for the launch of a virtual currency.

Adult entertainment

Mid last month adult entertainment firm, Playboy, disclosed that it would be developing its own virtual currency wallet in order to allow for payments of products and services of the firm in virtual currencies. According to the chief operating officer of Playboy, Reena Patel, this would give fans of Playboy more payment choices. In a statement Patel added that the adult entertainment firm would initially be accepting Vice Industry Token (VIT). This is a utility token that was launched earlier in the year and which lets Playboy video audiences enjoy discounts. During its Initial Coin Offering VIT raised approximately $14.5 million.

However the one American firm that would have the biggest impact were it to launch a virtual currency is online retail giant Amazon. Not only is Amazon said to be venturing into financial products and services but the e-commerce giant is making investments in blockchain technology which means it has the infrastructure set up if it ever wanted to delve into virtual currencies.

Huge impact

While there are no indications that Amazon is about to launch a digital coin the impact of that if it came to pass would be huge. For one it would enable mass adoption as it would ensure that virtual currencies gained mainstream acceptance. This would have the ripple effect of more people buy virtual currencies with the hopes of making a quick buck. One advantage that Amazon would enjoy is that it already has a customer base and would therefore not require to raise funds for a new coin via an Initial Coin Offering.

However despite a lot of startups and investors in Silicon Valley being highly involved in virtual currencies the vanguards have kept away from the sector. Some are even turning their backs on virtual currencies, Stripe a Y-Combinator startup used to accept bitcoin (BTC) but now no longer does.

While there is a lot of appreciation for blockchain technology the same cannot be said of virtual currencies. The regulatory crackdowns on Initial Coin Offerings by the likes of the U.S. Securities and Exchange Commission means that a lot of established Silicon Valley titans are adopting a wait-and-see attitude.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at [email protected].

The post Will A Digital Currency Be Issued By An American Firm In The Near Future? appeared first on dippli.

Source: https://dippli.com/2018/12/14/will-a-digital-currency-be-issued-by-an-american-firm-in-the-near-future/

Blockchain

NYC Auction House Features Bitcoin-Themed Art Containing Original Code

Christie’s New York auction house is featuring a piece of bitcoin-themed artwork that represents a portion of the protocol’s original launch code.

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A massive piece of artwork containing a portion of bitcoin’s code is being auctioned at Christie’s New York. 

According to the official website, Christie’s auction house in New York is hosting a massive piece of bitcoin-themed artwork. The project, dubbed “Block 21,” is one of forty pieces of art in a series depicting the entire 12.3 million digits of bitcoin’s original code. 

Block 21 contains 322,048 digits of hexadecimal code, some inscribed in gold. The art collection, which currently spans the globe, is more than 50 meters long in total, with the entirety of bitcoin’s historic v0.1.0 code hand-inscribed on its surface. 

Ben Gentilli, the artist behind the project, calls the collective series “Portraits of a Mind.” He described each piece as a digital fingerprint carved out of paint and attributed the artwork as a portrait of bitcoin’s anonymous founder Satoshi Nakamoto. 

Gentilli told Decrypt, 

Bitcoin’s original codebase is like a historical document, and I wanted to celebrate it and preserve it in the same way as a document like the Magna Carta. But I also wanted to try and answer the question of how one might make a portrait of Satoshi Nakamoto, when there is no image of him.

He continued, calling Portraits of a Mind a decentralized piece of art reflecting the underlying nature of bitcoin. 

Featured Image Credit: Photo via Pixabay.com

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Crypto Market Cap Gained $10 Billion, Bitcoin Eyes $11,000? (Saturday’s Market Watch)

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The cryptocurrency market continues to rebound and has added another $10 billion to its market cap since yesterday. Bitcoin trades around $10,700, while some leading altcoins mark serious gains.

Bitcoin Price Trades Around $10,700

Following yesterday’s increase in which Bitcoin topped at $10,800, the primary cryptocurrency retraced to its intraday bottom at about $10,550. However, the bulls intercepted the price dip and drove the asset upwards once again. Just as 2020 goes so far, this Bitcoin spike followed the 1-2% gains seen on Wall Street at the Friday trading session.

The S&P 500 (1.6%), the Dow Jones Industrial Average (1.34%), and the Nasdaq Composite (2.26%) were all deep in the green.

At the time of this writing, BTC has dipped to $10,760 after getting rejected at the first major resistance at $10,790.

As per the analysis, if BTC price breaks above, it could head towards the next resistance at $11,000, followed by $11,200, $11,360, and $11,530. Alternatively, should the asset fall, it could rely on the support levels at $10,580, $10,440, and $10,390, if necessary.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Despite stocks and cryptocurrencies, gold had failed to increase: Recording an intraday high of $1,875, the precious metal dived and closed the session at $1,860.

Altcoins Gain Traction

Some alternative coins lost significant chunks of value lately, but they have been recovering in the past few days. Ethereum has continued its upward movement with another 3% increase to above $350.

Ripple has surged by 5% to $0.243. Bitcoin Cash (1%), Polkadot (3%), Binance Coin (1%), and Litecoin (3%) are also in the green from the top 10. However, Chainlink has outperformed them all by marking an 11% increase. LINK has overtaken BNB and DOT and currently occupies the 6th spot.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

As it typically happens, the most volatile price moves come from mid and low-cap alts.

CyberVein leads with a 21% surge. Ren (20.5%), Yearn.Finance (17%), The Midas Touch Gold (14%), DFI.Money (14%), Cardano (11%), Zilliqa (11%), HedgeTrade (10.5%), and Nervos Network (10%) follow.

In total, the cryptocurrency market cap has increased by $10 billion since yesterday. On a 48-hour scale, the metric is up by 8% since its bottom at $319 billion to $344 billion.

Total Market Cap. Source; CoinMarketCap
Total Market Cap. Source; CoinMarketCap
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-market-cap-gained-10-billion-bitcoin-eyes-11000-saturdays-market-watch/

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Bitcoin Always Online In Venezuela: Launched The First Satellite Node In Collaboration With Blockstream

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Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido.

The initiative allows interacting with the Bitcoin blockchain without the need of an internet connection. A satellite antenna installed in Venezuela is in charge of the communication between the node and the blockchain.

How the Satellite Node Works

This novel solution allows the Venezuelan node to process information in real-time completely off-line. Thus, the normal functioning of the network in case of connectivity failure (something widespread in the country) is guaranteed. It also facilitates the use of cryptocurrencies in remote places where internet service is scarce, expensive, or even non-existent.

The project works as follows: Blockstream contracts a number of satellites to provide the communication service between the nodes and the blockchain. Cryptobuyer bought the necessary equipment to receive the signal and connect to the satellite, and Anibal Garrido and his team were in charge of assembling the antennas and making the required adjustments.

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For Alvaro Perez, a software programmer from Valencia City who helped set up the whole infrastructure, the node’s synchronization was an inspiring moment. In statements compiled by Cryptobuyer on an official blog post, the expert says that the operation was a “great achievement.”

“We downloaded the whole Bitcoin blockchain and successfully carried out the first transaction through a Bitcoin satellite node in our country on September 23, from the city of Valencia (…) We received bitcoin through the satellite connection without any internet connection. It was a moment of great achievement.”

The journey is just beginning for Bitcoiners in Venezuela

This would be the first of three antennas that Cryptobuyer plans to deploy to cover the country’s most critical areas. The remaining two will be placed in the country’s capital, Caracas, in the north of Venezuela, and Puerto Ordaz, an industrial city located south of the country.

Later on, they plan to deploy a large number of small devices that will serve as a sort of repeater antenna to create a sizeable mesh-type network that will facilitate transactions in Bitcoin even far away from the primary antenna.

Now there’s no excuse to start using some satoshis in the country. Venezuela keeps proving that it has plenty of reasons to be on the podium of the three countries with the most adoption of Bitcoin around the world.

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Source: https://cryptopotato.com/bitcoin-always-online-in-venezuela-launched-the-first-satellite-node-in-collaboration-with-blockstream/

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