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Daily Email 03-14-19
Bitcoin Gold (BTG)
Bitcoin Gold is a cryptocurrency with Bitcoin fundamentals, mined on common GPUs instead of specialty ASICs. ASICs tend to monopolize mining to a few big players, but GPU mining means anyone can mine again – restoring decentralization and independence. GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have. It has a market cap over $2229.8 million, a circulating supply over 17.4 million and has traded over $12.5 million in the past 24 hours according to CoinMarketCap.com.
BTG/USD has been trading in a pennant formation since its late February breakout. A close above $13.300 would be a potential confirmation for a move to the Late December high near $16.300. A potential stop could be placed below $13.000 and raised below each successive higher low.
News to Know
Republican Leader McCarthy Proposes Blockchain Transparency in Government
Kevin McCarthy, the Republican leader of the U.S. House of Representatives, has called for an exploration to see if blockchain can make the U.S. government more efficient and transparent. In a speech before the Select Committee on the Modernization of Congress on Tuesday, McCarthy said that blockchain is “revolutionizing” the security of the financial industry and that it can also help transform the “transparency of our own legislative process.”
Ripple Bets Big on Blockchain Gaming with $100 Million Fund via Xpring
According to a press release this morning, Ripple’s Xpring developer initiative and Forte, a blockchain gaming company, have teamed up to create a $100 million fund for game development. Forte provides tools for blockchain integration to game developers. Xpring works to advance the XRP ecosystem through developer funding and development of tools.
Coinbase Pro Adds XLM, Streamlines Exchange and Wallet App
In a bid to add more trading options, Coinbase has added Stellar Lumens on its professional trading platform called Coinbase Pro. In the March 13th announcement, the US-based exchange and wallet platform detailed that it had started accepting XLM token deposits from on the same day at 1 pm Pacific Time and hopefully, after 12 hours, it will gather sufficient liquidity to start full-fledged trading service against USD, EUR, and BTC. The listing will follow four stages – transfer-only, post-only, limit-only, and full trading.
Tether Now Admits It’s Not Fully Backed by Dollars
Tether has amended its public claims about the assets that guarantee the coin’s value. That claim has been replaced by the following word salad: “Every Tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD.”
Ripple Executive Denies Bribing Coinbase For XRP Listing; Should You Believe It?
Miguel Vias, the head of XRP markets at Ripple, denied allegations of paying off Coinbase to list XRP on their cryptocurrency exchange. The response followed a series of bribery accusations shot towards Coinbase after its sudden announcement of adding XRP trading pairs to its platform on Feb 26. In contrast, the US exchange had earlier remained cautious of the said listing.
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