IMF survey highlights overwhelming support for Bitcoin as a payment system

Bitcoin was created as the first peer-to-peer electronic cash system, and as a result, an entire industry of digital assets has since emerged. Despite the longevity and staying power of cryptocurrency, there is still debate among policymakers, regulators and even investors as to whether the asset class should be defined as „money“.

A recent survey by the International Monetary Fund found that respondents overwhelmingly say „yes“ that Bitcoin and other altcoins are indeed money and should be considered as such.

Bitcoin and the move to hard money
The bitcoin price is trading at under $40,000, a few thousand off its recent high. And while a drop of this magnitude would have generated obituaries about Bitcoin in the past, it is now seen as an opportunity to buy Bitcoin on the cheap.

Investors and institutions are voting with their capital that the cryptocurrency will outperform the dollar and help offset the coming bout of hyperinflation. Bitcoin has risen more than 500% against the dollar since the outbreak of the pandemic, and while the short-term trend may be taking a breather, the long-term trajectory is always up.

BTC is now the 16th largest currency in the world and rising. It could one day become the global reserve currency and the first non-state currency to be used worldwide.

Over $10 trillion in value has already been transacted through the network. But for some reason there is still a debate about whether cryptocurrencies are money.

On the one hand, the word currency is in the name – and Satoshi Nakamoto intended his invention to look like money. And according to the general public, they also see cryptocurrencies as „money“.

At what price will people eventually consider Bitcoin to be money? BTCUSD on TradingView.com
IMF survey: more than 75% believe crypto is ‚money‘
The official Twitter account of the International Monetary Fund has just published a poll asking followers whether „digital currencies“ are „really money?“ Out of nearly 100,000 votes, the poll leads with around 80% in favour of crypto as money.

The IMF is a global organisation made up of „190 countries working to promote global monetary cooperation, ensure financial stability, facilitate international trade“ and more.

Recently, central banks in the US were given the green light to use digital currencies to transfer money. With each passing day, cryptocurrencies take another step towards „money“.

The debate remains, however – because although Bitcoin itself can easily be used as „money“ to spend, few who buy the cryptocurrency plan to use it in this way.

But this is how superior forms of money manifest themselves to begin with. The holders of the old form of money begin to exchange it for what they perceive to be the superior form of money – and hold on to it because they believe it is more valuable.

Eventually, when enough people do this, the currency itself becomes indisputably money. Could this be the path crypto is currently on?

They Sell Bitcoin For $ 1,400,000 For One Second – Buyers Are Screaming … Too Late!

Anticipation novel? – Even though Bitcoin (BTC) is exploding from its previous highs and approaching $ 30,000, its price has gone totally crazy on a platform. This is LiveCoin, which is said to have suffered an attack from hackers. The latter would have modified the price of BTC, to the point of giving it values ​​with 6… or even 7 digits !

220,000, then 500,000, then over $ 1 million the BTC

While some strongly believe that Bitcoin Revolution will one day hit $ 100,000 , that is pure prediction at this point .

However, this price has been virtually exploded on the Russian crypto-exchange LiveCoin . Indeed, on Christmas Eve, things started to go wrong. The platform then announced to suspend exchanges , following a so-called „technical problem“ which affected the quotation of bitcoin .

Indeed, the price of a BTC had already climbed to an impressive, but unrealistic, $ 220,000 per unit, as BeInCrypto indicates . The price of Ether from the Ethereum Network (ETH) had also increased disproportionately at the same time, to $ 6,500 .

But this was obviously not just a technical concern. LiveCoin users quickly reported on Twitter the message below, which reports intentional price manipulation by hackers :

“Dear customers, we ask that you immediately stop using our services (…) do not deposit or trade [crypto] (…). We are under the blow of a carefully planned attack (…) We have lost control of all our servers (…). “

Crazy prices: a real hack or a hidden exit scam?

Bitcoin and ether prices thus continued to run wild , with BTC first reaching $ 500,000 and ETH reaching $ 15,000 on LiveCoin. At the height of the manipulation, a single bitcoin was worth the colossal sum of $ 1.4 million in the space of an instant.

If some users of the platform cry out for an exit scam rather than a hack, it is because a day before , it was already impossible for them to withdraw their cryptocurrencies from LiveCoin.

As their funds are still blocked at the moment, they fear that those in charge of the platform will leave with the money .

In any case, cryptos have already been withdrawn from LiveCoin, 106 BTC in this case, or more than $ 2.8 million at the time of this writing. Another intriguing fact: the same BTC address was used both for the present incident and for the hack of the EXMO platform committed a few days earlier.

Bitcoin market dominance reaches annual high, XRP may be about to end

The volatility of Bitcoin combined with the current weakness of the Altcoins has resulted in a new annual high in market domination.

On December 23, the volatility of Bitcoin ( BTC ) continued, as after a downturn to $ 22,800, it went straight back to the resistance at $ 24,000.

BTC market domination reaches annual high

As can be seen from the data from Cointelegraph Markets , Coin360 and TradingView , the crypto market for Crypto Code is currently quite unstable, which is favored by the current panic of XRP investors.

At press time, Bitcoin is back at $ 23,700 after briefly topping the $ 24,000 mark. That fluctuation came in the same couple of hours, in which the market-leading cryptocurrency initially slipped to $ 22,800 before moving back up.

The market leader shows significant volatility, which, in connection with the problems of Ripple, has resulted in a new annual record for the market share of Bitcoin.

„In the past, BTC usually formed a blanket in December, which is followed by a strong first quarter for altcoins,“ as Cointelegraph Markets analyst Michaël van de Poppe sees the current dominance of Bitcoin as a sign that the remaining cryptocurrencies will soar soon.

XRP before the end?

For XRP, however, this could remain a pipe dream, because the American Securities and Exchange Commission has accused Ripple, the publisher of the large cryptocurrency, for the unauthorized sale of securities . Should XRP actually be classified as a security during the negotiations, this could have serious consequences for trading the cryptocurrency.

As Van de Poppe explains , Bitcoin’s record market domination is due to the overall weakness of Altcoins, as other top 10 cryptocurrencies have also recently posted losses. The leading Altcoin Ether ( ETH ), meanwhile, remains flat at $ 611.

The acquisitions by the large crypto asset management company Grayscale, on the other hand, did not provide a noticeable boost. On Tuesday, the crypto company bought BTC worth $ 285 million.

Bitcoin na frente e no centro no relatório de métricas de moedas de 2020

2020 foi um ano prolífico para o Bitcoin e isso se correlacionou a um grande aumento na quantidade de endereços de carteira ativos neste ano.

Os insights vieram do relatório de análise de criptomoeda Coin Metrics ‚ State of the Network, que descreveu as principais conclusões do espaço em 2020

Embora a Covid-19 tenha prejudicado as economias em todo o mundo, o espaço da criptomoeda passou por um período de grande ressurgimento.

Nada mais é que o Bitcoin Era, que se libertou de seus grilhões para estabelecer novos máximos em 2020 .

‚Retorno de Bitcoin‘

A maior parte do artigo é centrada em torno do ano de retorno do Bitcoin e a influência do investimento institucional finalmente entrando no espaço da criptomoeda de uma forma significativa.

O artigo mencionou os investimentos significativos de empresas como MicroStrategy, Square, MassMutual e outras instituições financeiras e investidores convencionais que impulsionaram o aumento do valor do Bitcoin.

Uma métrica chave identificada pelo pesquisador da Coin Metrics, Nate Maddrey, foi o número de endereços Bitcoin ativos – que teve um aumento de 100 por cento de cerca de 600.000 endereços ativos para 1,2 milhão.

Maddrey também observou que a recompensa de mineração do Bitcoin caiu pela metade em 2020, tendo um momento fortuito com as medidas de estímulo fiscal em curso empregadas pelo governo dos EUA.

Investitori e influenzatori del settore Laud a $22.000 Bitcoin

Mentre i prezzi Bitcoin sono saliti ai loro prezzi più alti di sempre, gli osservatori del settore e gli investitori hanno celebrato l’inevitabile pietra miliare che molti di loro sapevano che stava arrivando.

Poche ore fa, durante la sessione mattutina di trading in Asia, i prezzi Bitcoin hanno brevemente superato i 22.000 dollari per la prima volta in assoluto. Nelle ore successive i prezzi hanno subito un lieve arretramento, con un conseguente lieve calo a 21.750 dollari.

Tuttavia, al momento della stampa, hanno spinto di nuovo più in alto per superare la pietra miliare dei 22.000 dollari, ancora una volta scambiando ad un nuovo massimo di 22.250 dollari secondo Tradingview.com.

L’ultimo rally Bitcoin ha aggiunto il 14% ai prezzi nelle ultime 24 ore e non sembra che si sia fermato lì. I mercati sono ora in un territorio inesplorato, poiché l’asset forma nuove zone di supporto e di resistenza. Ha anche portato l’intera capitalizzazione del mercato cripto ad un massimo di quasi tre anni di 630 miliardi di dollari, anche se il 67% è puramente Bitcoin.

I leader del settore lodano il Bitcoin

Il nuovo record di tutti i tempi è stato ampiamente anticipato da analisti ed esperti del settore e molti di loro hanno espresso il loro pensiero nelle ultime ore mentre il rally continua.

Il co-fondatore e chief investment officer di BlockTower Capital, Ari Paul, ha lamentato il fatto che BTC non sarà mai più un investimento così attraente come lo è stato finora.

L’azione sui prezzi di Bitcoin mi rende un po‘ triste. Alla fine di questa tappa dell’encierro (la migliore ipotesi è 12-18 mesi), BTC non sarà mai più un investimento così attraente come lo è stato fino ad oggi. Ho fatto del mio meglio per „impilare i satelliti“ prima di questo, ma ti chiedi sempre cos’altro avresti potuto fare.

– Ari Paul ⛓️ (@AriDavidPaul) 16 dicembre 2020

Attualmente, ogni singola persona che ha acquistato Bitcoin (a parte quelle che l’hanno perso in truffe o hackeraggio) è in profitto. Questo lascerà la sensazione che forse non si sono accumulati abbastanza satelliti, come sottolinea Paul.

Cameron Winklevoss era altrettanto entusiasta, affermando;

„Oggi, Bitcoin si è tolto la scimmia di dosso. Ci sono voluti tre lunghi anni di duro lavoro, ma il soffitto di vetro da 20.000 dollari è andato in frantumi. Un punto di svolta per il nostro movimento“.

Nel frattempo, Max Keiser di RT ha chiesto cosa succederà dopo aver acquistato Bitcoin all’inizio per combattere contro quella che lui descrive come una „Insurrezione globale contro l’occupazione dei banchieri“;

Ho iniziato a comprare #BTC nel 2011 (1 dollaro) per protestare contro il $USD, la Fed e le banche Wall St corrotte. Si è sempre trattato di #GIABO (Global Insurrection Against Banker Occupation)

Il mio obiettivo non era quello di entrare nella top .001%.

Non ho ambizioni e sono fondamentalmente molto pigro…

E adesso?

– Max Keiser (@maxkeiser) 16 dicembre 2020

Altri grandi Crypto Movers

Ci sono solo una manciata di asset criptati che hanno superato la Bitcoin nelle ultime 24 ore e includono l’XRP di Ripple che, dopo aver scaricato pesantemente, ha superato il 26% di un occhio innaffiato fino a raggiungere 0,566 dollari.

Anche il token XLM di Stellar, che è un fratello dell’XRP, ha pompato di più con una mossa del 18% nel corso della giornata, portandolo a 0,189 dollari.

Naturalmente, l’argento all’oro di Bitcoin – Litecoin – va sempre bene quando lo fa il fratello maggiore. LTC ha guadagnato oltre il 15% nelle ultime 24 ore per raggiungere i 93 dollari, il suo prezzo più alto dai tempi della pompa prealimentazione del giugno 2019.

Bitcoin addresses with a balance greater than zero reach a new record high

The number of Bitcoin wallets containing at least 1 satoshi has reached a record level.

This follows an increasingly bullish year for The News Spy as institutional investors became more involved.

Portfolios containing more than 1 BTC and Ethereum portfolios with non-zero balances also reached an all-time high.

The Trust Project is an international consortium of media organizations based on transparency standards.

As Bitcoin continues to try to surpass its record price, we see another positive measure in its ecosystem: the number of portfolios with a BTC balance greater than zero.

As of December 12, the number of portfolios with a non-zero BTC balance reached a new historical record (ATH) of 32,925,521. This beats the previous record of 32,925,198 reached the day before. This data was collected and plotted by Glassnode, which monitors measurements and on-chain exchange flows.

Bitcoin $BTC The number of non-zero addresses just reached an ATH of 32,925,521

The previous ATH of 32,925,198 was observed on December 11, 2020.

A positive sign for the crypto space

This news of a record number of non-zero Bitcoin accounts is a very positive sign in space. It shows that more and more users are creating portfolios and actually depositing Bitcoins into them. It also indicates that users are interacting with the network.

Glassnode further pointed out that the number of Bitcoin addresses holding at least 1 BTC has also reached a new historical record with 825,988 addresses, as recently as December 11th, one day before the aforementioned ATH.

In addition to these statistics, according to Chainalysis Chief Economist Philip Gradwell, portfolios of more than 1,000 BTCs (with a current value of approximately $19 million) have also increased by 17% in 2020, indicating increased intention on the part of individual and institutional investors.

What about ETH?

These historic highs are not only observed in the Bitcoin ecosystem, but also at Ethereum. Glassnode reports that the number of Ethereum addresses holding non-zero amounts has surpassed its historical record, totaling 50,476,989 portfolios. As for the Bitcoin portfolios, the previous record of Ethereum addresses with a non-zero balance was reached on December 12. This indicates that new records are expected for both cryptomoney portfolios.

When looking at the graphs for the non-zero addresses in the Bitcoin and Ethereum portfolios, the graph shows exponential growth. However, the graph detailing addresses holding more than 1 BTC appears to follow a linear growth pattern.

Rising crypto prices and interest in them

Last year, we have seen a gradual growth in the entire cryptographic industry. Major digital currencies such as bitcoin and ether have doubled or tripled or more. This growth is due to a wide variety of factors. Global economic instability has a large influence. More narrowly, there is interest in Bitcoin as a reserve asset/inflation hedge, the launch of Ethereum 2.0, and much more.

All of these factors have led to an overall increase in the market capitalization of the cryptographic industry. It is therefore natural to see the number of usable portfolios increase as well. All these signs indicate a healthy and constantly growing ecosystem.

USA: Draft law calls for strict regulation of Stablecoins

US delegates call for strict regulation of Stablecoins

A new draft law in the USA wants to get Stablecoins by the throat. Proponents see it as an effective means of consumer protection, but the crypto-sphere remains sceptical.

Three members of the US Congress submitted a bill to regulate Stablecoins on 2 December. The aim is to better protect consumers against the risks posed bei Bitcoin Pro by the Stablecoin plans of Facebook and Co. Whether the law will actually be passed is questionable. After all, the current legislative period will end in just a few weeks.

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A press release states that the Corona pandemic has boosted consumer interest in the FinTech sector. At the same time, the virus has increased the economic hardship of many households. According to Rashida Tlaib, the initiator of the draft law, the STABLE Act is particularly concerned with the protection of people with low and middle incomes. Her party colleague Jesús „Chuy“ García made a similar statement:

Congress must ensure that the new financial technologies and means of payment do not exploit vulnerable users. The STABLE law does just that – it promotes innovation while protecting consumers.

Stablecoins only with a banking licence

The proposed law would significantly raise the barriers to the issue of a stablecoin. In the future, issuers would need a banking licence and would be required to comply with the regulations applicable to banks.

Publishers would still need six months‘ advance approval from the Fed and the Federal Deposit Insurance Corporation (FDIC). Finally, in addition to ongoing risk analysis, issuers would be required to have the necessary reserves with the Fed or the FDIC. This would guarantee the redemption of the Stablecoin in US dollars.
Mixed reactions

Several US consumer protection organisations have lent their support to the draft law. Raúl Carrillo, head of the Public Money Action organization and a staff member of Yale Law School said

By extending federal banking regulation and consumer protection to new forms of „deposits“, the STABLE Act addresses the increase in „shadow payments“ and „shadow banks“ – forms of financial activity that, regardless of their specific legal and technological design, justify robust, preventive and comprehensive regulation.

As was to be expected, the crypto-community reacted negatively, however. The quote: Stablecoins and other crypto-projects should not be treated like banks. Meltem Demirors, Chief Strategy Officer of CoinShare, said in a tweet that the law would have a detrimental effect on low-income earners:

Crypto-currencies REDUCE the cost of providing services to populations that have been excluded from the banking sector in the past. Rising costs and compliance requirements are forcing companies to restrict access for unprofitable customers.

While the proposed legislation remains controversial, it does not at least call for a general ban on Stablecoins. In the EU, however, such considerations have occurred repeatedly. However, the argument is not so much based on the risk to low earners as on the perceived threat to the stability of the financial system.

Analytikerlister Topp fem kryptoprosjekter som sannsynligvis

Analytikerlister Topp fem kryptoprosjekter som sannsynligvis vil øke i desember

Kryptostrateg og influencer Lark Davis kaller fem kryptoaktiver som han mener har potensial til å oppnå store gevinster i desember.

Først på Davis-listen er Ethereum (ETH), som han sier vil trolig ballong i pris a Bitcoin Evolution ettersom kryptoinvestorer forventer den etterlengtede lanseringen av ETH 2.0.

“Åpenbart er Ethereum og lanseringen av ETH 2.0 1. desember, det er ganske forbannet for Ethereum og kryptomarkedet generelt. Jeg forventer at vi kommer til å se mye interesse fortsette i Ethereum i forkant av den datoen, legge ut den datoen, ettersom vi ser mer og mer Ethereum bli låst inn i innskuddskontrakten. Det vil ha en positiv innvirkning på Ether. ”

Nummer to er XRP. Davis tror at den tredje største kryptoaktiva vil ha en stor desember da investorer venter på Spark token airdrop.

“XRP kunne også se et videre rally i oppkjøringen til airdrop, som er planlagt til 12. desember. Nå har det hatt en massiv oppkjøring, så vær forsiktig med det, men XRP-holdere vil bli droppet 45 milliarder gnisttegn for Ripple-backed Flare Network. ”

Å hente det tredje stedet er Aave (AAVE). Kryptoanalytikeren oppregner de store endringene når den desentraliserte finanselskingen ruller ut Aave V2.

“De vil snart gi ut Aave V2, som kan være en stor katalysator for symbolet. For øyeblikket er Aave V2-oppgraderingen live på Ethereum testnet. Nå vil oppgraderinger til protokollen omfatte bedre optimalisering av transaksjonsflytene; redusere antall transaksjoner du faktisk trenger å gjøre for å samhandle med Aave, tokeniserte gjeldsposisjoner, faste renter for innskudd, bedre stabilitet for lånerenter, private markeder for å støtte et bredt spekter av eiendeler.

De kommer til å gjøre gassoptimaliseringer også for å redusere gassgebyrene for deg

De skal forbedre Aave-tokens. De kommer til å gjøre gjeldshandel, pantesalg, utlån og lån på margin. Og Aave jobber til og med med å bringe pantelån inn i deres økosystem, noe som er helt gal fordi det er et marked verdt titalls billioner hvert år globalt. ”

Landing på nummer fire er Axie Infinity (AXS), som Davis mener har et stort potensial ettersom den retter seg mot den enorme verdenen av spill og ikke-soppbare tokens (NFT).

“Axie er et spill hvor du kan bygge et digitalt land, et slags kongerike, og så kan du kjempe kjæledyrene dine mot andre spillere. Og hvis du tror at sjeldne Pokemon-lignende spillelementer er en dum idé-spillmann, uansett, så ta i betraktning at faktiske Pokemon-kort har eksplodert i pris nylig. Spill er supervarmt, samleobjekter – supervarmt. Hvis dette spillet tar tak, kan det være veldig, veldig stort. ”

Il top locale di Bitcoin inchiodato? Gli analisti valutano le possibilità di correzione

Bitcoin si sta attualmente raffreddando da una massiccia mossa a $ 18.450 il 18 novembre ei mercati rialzisti sono stati tradizionalmente intervallati da ampie correzioni. Potrebbe essersi formato adesso?

Dal suo epico passaggio a un massimo di quasi tre anni ieri, Bitcoin Revolution si è ritirato di circa il 4% ai prezzi attuali che sono nella zona di $ 17.600. Sembra che qui si stia consolidando, quindi un altro passo avanti potrebbe essere imminente.

Il rovescio della medaglia, una correzione di dimensioni ragionevoli non sarebbe fuori questione dal momento che i precedenti mercati rialzisti hanno subito diversi pullback del 30% più.

Scenari di correzione di Bitcoin

L’analista e guru della creazione di grafici Peter Brandt ha esplorato le possibilità di un grande ritiro per Bitcoin che ha fatto un monumentale 30% dall’inizio di novembre e ha raggiunto la sua capitalizzazione di mercato più alta di sempre .

Ha affermato che ci sono state nove correzioni significative durante l’ultimo mercato rialzista dal 2015 al 2017 con un calo medio del 37%.

Durante il mercato rialzista 2015-2017 in Bitcoin $ BTC , ci sono state 9 correzioni significative con le seguenti medie:

L’ultimo nel ciclo attuale è stato all’inizio di settembre, quando BTC è crollato da poco meno di $ 12.000 a poco più di $ 10.000 in quattro giorni. La correzione di circa il 15% era meno della metà della media attesa dai cicli precedenti, quindi cosa possiamo aspettarci da uno più grande?

Un calo del 37% rispetto ai livelli attuali riporterà i prezzi di BTC a circa $ 11.200, ma questo è ancora del 55% superiore a quello di Bitcoin all’inizio di quest’anno.

C’è anche la premessa che i pullback non saranno così violenti durante questo ciclo di mercato a causa del fatto che i fondi istituzionali come la scala di grigi si stanno caricando sull’asset che generalmente riduce la volatilità.

Ethereum 2.0: lack of interest in the project? – Only 10% of the minimum amount deposited at ETH

Ethereum 2.0 is coming! – After years of waiting and hoping to improve the Ethereum Blockchain, the upgrade to Ethereum 2.0 is now just around the corner. The earliest possible time for the 1 phase of the upgrade is December 1st, 2020. However, in order for this to be achieved, a minimum amount of ETH must be stored on the beacon chain.

Now it has been shown, however, that just 10% of the total amount was deposited with ETH. Is there no interest in the project at all or do investors consider the risks too high?

Ethereum 2.0: Only 10% of the minimum amount deposited at ETH

The current status of the Beacon Chain, which will go live on December 1st, 2020 at the earliest, can be viewed on the official Ethereum website .

However, it shows that just 11% of the minimum amount was deposited with ETH.

Ethereum2_0_Beacon Chain Status

Of the required minimum amount of 524.288 ETH, only 61.024 ETH have been deposited at the current time.

In absolute numbers, investors and Ethereum enthusiasts deposited just $ 27.5 million out of a total of $ 240 million.

Let’s remember: 9 days ago the official launch of the Ethereum 2.0 deposit contract took place. There are still 18 days until the earliest possible start.

So now 1/3 of the time, namely 9 of a total of 27 days, has passed.

Ethereum needs more deposited ETH

If the growth were to stay the same, then there would be just another 120,000 ETH in the next 18 days. All in all, on December 1st we would then have a deposited amount of ETH of around 180,000 ETH and thus still well below the required 500,000 ETH.

In addition, when launching a project, one usually observes an extremely strong effect in the initial phase, which decreases over time. Specifically, this means that the amount of ETH stored – as happened in the past with many projects – is particularly high at the beginning.

We also have to consider that the Ethereum developers built some kind of delay into the system. As soon as the minimum amount at ETH has been reached, another 7 days will pass until the official launch of the Beacon Chain.

At the current rate of 60,000 ETH in 9 days, we would need another 40-50 days for the remaining ~ 460,000 ETH. In other words: The Beacon Chain will probably not come until mid to late January 2021.

Staking support for Ethereum 2.0

One reason for the hesitant behavior is probably the lack of staking support without rudimentary coding knowledge.

Potential staking providers like Coinbase will probably wait a few days or even weeks before offering Ethereum 2.0 staking on their platform. Only when the network has been stable for an adequate period of time will the major exchanges enable their customers to stake ETH.

In other words, if you want to do Ethereum staking in the first few weeks, you have to have little coding knowledge. Even if the setup process isn’t overly complicated, it will nonetheless put off many users and investors.

The irreversibility of the transactions is another factor. Anyone who uses their ETH on the Beacon Chain once has no way of going back to “the old Ethereum”.