Binance says operations will resume tomorrow

The CEO of Binance, Chengpeng Zhao has publicly announced that despite the security breach that occurred on the Binance platform yesterday, the exchange will renew its operations first thing tomorrow. This is, unfortunately, not the first time that Binance has been hacked. Binance has already suffered from the lower trading volume, being down by more than 24%.

Although Binance’s shutdown for today was in order to prevent any withdrawals or deposits from the hackers, it was still a major misstep from the company. But the idea has since been scrapped and Binance is now back to square one. However, as much as the strategy may have seemed like a paragon of liberty, the community was massively against it, seeing how too much power for the miners could spiral out of control and lead to not only BTC falling further in price, but also dragging Binance Coin with it as well.

Binance is one of the most popular crypto exchanges, that much simply cannot be doubted. But now that traders don’t have the option to constantly trade Bitcoin on Binance, the coin has calmed down a bit and is hovering between the $7,000 and $7,300 price points. Whether or not Bitcoin falls into another bear market, depends solely on Binance’s capabilities of improving the situation and either retrieving the API keys or blocking them completely.

Bitcoin Will Make 5% of Earth’s Market Share in Four Years: Billionaire VC Tim Draper BY JULIA SAKOVICH

ON SATURDAY, MAY 11TH, 2019 11:17AM UTC LEAVE A COMMENT

According to Tim Draper, Bitcoin will continue growing and in a couple of years will have a 5% world’s market share.

Photo: Shutterstock

While over the previous year some investors were gradually losing their belief in the bright future for Bitcoin and other cryptocurrencies, serial VC investor Tim Draper has always been rather confident in his optimistic predictions. And just recently he has reaffirmed his positive vision. According to him, by 2023 Bitcoin will have won a 5% market share of the entire world.

Future of Bitcoin

Some people may say that Draper has his head stuck in the clouds with his predictions. Let us remind you that in February when the Bitcoin price was even really very far away from the record $20,000 height as BTC was traded for lower than $4,000, he insisted that in 2022 the coin would be traded for at least $250,000.

Nevertheless, Tim Draper was not going to change his opinion even at that time without mentioning the current moment when it looks like that the white stripe for Bitcoin has begun. At the time of writing the coin is traded for   $6813.31 having gained 8.06% over the last 24 hours and Draper believes that the price growth will continue.

Bitcoin Will Make 5% of Earth’s Market Share in Four Years: Billionaire VC Tim Draper BY JULIA SAKOVICH

ON SATURDAY, MAY 11TH, 2019 11:17AM UTC LEAVE A COMMENT

According to Tim Draper, Bitcoin will continue growing and in a couple of years will have a 5% world’s market share.

Photo: Shutterstock

While over the previous year some investors were gradually losing their belief in the bright future for Bitcoin and other cryptocurrencies, serial VC investor Tim Draper has always been rather confident in his optimistic predictions. And just recently he has reaffirmed his positive vision. According to him, by 2023 Bitcoin will have won a 5% market share of the entire world.

Future of Bitcoin

Some people may say that Draper has his head stuck in the clouds with his predictions. Let us remind you that in February when the Bitcoin price was even really very far away from the record $20,000 height as BTC was traded for lower than $4,000, he insisted that in 2022 the coin would be traded for at least $250,000.

Nevertheless, Tim Draper was not going to change his opinion even at that time without mentioning the current moment when it looks like that the white stripe for Bitcoin has begun. At the time of writing the coin is traded for   $6813.31 having gained 8.06% over the last 24 hours and Draper believes that the price growth will continue.

Crypto market daily report – May 7, 2019

The cryptocurrency markets continued to show rises over the past 24 hours with Bitcoin Core (BTC) going up by around 5% to touch the $5,950 mark at press time on Tuesday. However, the real riser of the pack was the second largest cryptocurrency by market cap, Ethereum (ETH), which was up by no less than 11% to reach the $179 mark at press time, and, with turnover rising considerably, it looked poised for further gains in the short to medium term. Bitcoin SV(BSV) remained relatively flat at the $53 level where it seems to have found a bottom.

Although the increase was across the board, some currencies were slower to rise with for example Ripple only exhibiting a 2.5% increase to the $0.305 level. Litecoin (LTC) and EOS practically reversed all the losses of the past few days and were up by 6% and 7% respectively to the $77 and $4.97 levels with the latter appearing primed to move over the $5 mark. NEO also recovered with a 5% increase to soar over the $9.30 level, whilst Stellar (XLM) was up by a more conservative 3% to the $0.098 mark and appeared to be moving towards regaining the $0.10 threshold. IOTA and Cardano (ADA) were also in the green by 5% each to rub off some of the losses of the past few days. 

Smaller market cap coins also saw some considerable increases in some cases. LINK was up by a considerable 18% to the $0.60 level, whilst ZIL and IOST also posted some impressive gains with increases of 9% and 7% respectively. Ethereum Classic (ETC) was also up by around 6% to the $5.90 level with ONT posting a similar gain. ATOM recovered some of its past losses and posted an 8% gain to the $4.95 level, whilst VET and ICX posted similar 5% gains.

By William Suberg Cryptocurrency and Smart Contracts Will For Sure Enter Into Society, Says Senior UK Lawyer 219 56 2:10 Cryptocurrency and Smart Contracts Will For Sure Enter Into Society, Says Senior UK LawyerNEWS

One of the United Kingdom’s most senior lawyers said in a speech on May 2 that cryptocurrency and smart contract use will inevitably begin, but regulations are needed.

Addressing the University of Liverpool School of Law and the Northern Chancery Bar Association, Sir Geoffery Vos, Chancellor of the High Court, dedicated time to exploring necessary changes in order for smart contracts and crypto assets to become widespread.

“My starting point is to ask why smart contracts have taken so long to become ubiquitous,” he began. Vos continued:

“We have been discussing how and when they may take over the world of mainstream financial services for several years. Yet, they seem never to make that breakthrough into reality.”

Vos has revealed himself to be an advocate of technological reform in the legal sector, noting in a 2018 speech that the U.K. legal system was primed to cope with innovation.

This week’s pitch repeated that idea, with Vos advocating the fact that the use of smart contracts was a matter of when, not if.

“We should, therefore, be looking to identify and, if necessary, remove any fundamental legal impediment to the use of smart contracts,” he stated. Vos added:  

“We should try to avoid the creation of a new legal and regulatory regime that will discourage the use of new technologies rather than provide the foundation for them to flourish.”

Speaking about cryptocurrency directly, Vos meanwhile gave a stronger indication that its presence in society would only grow, rather than move to the sidelines.

US Citizens Can Now Accept Federal or State Tax Refunds in Bitcoin (BTC)

By Dalmas Ngetich 

 

May 3, 2019

Tax season is here, and it’s time once more, to sharpen those pencils and go through the IRS’s mountains of forms. While Amazon pulled in $11.2 billion as profit in profit in 2018 is going to pay zero in federal taxes, every Bitcoin investor is expected to pay the taxman or face the law.

Celebrities Impact the Cryptocurrency Industry Positively

The current digital marketing industry is very receptive to celebrities. The brands are aware of this fact and use celebrities to disrupt the markets and capture the attention of their target customers. The cryptocurrency industry has not being left behind with millions being pumped into the industry by renowned celebrities including musicians and actors.

Some of the celebrated people who have invested bulk amounts of cultural capital in terms of goodwill, interest, and public respect are Steven Seagal, Floyd Mayweather Jr., Lionel Messi and the list continues. They are mostly used to capture the attention of the public when a cryptocurrency company as an initial coin offering or introduces new digital currencies.