BitCoin Update



The Senate will hold a hearing next month on Facebook’s Libra currency

The Senate will hold a hearing next month on Facebook’s Libra currency

On Wednesday, the Senate Banking Committee announced it will be holding a hearing next month to question witnesses over Facebook’s new cryptocurrency initiative, Libra. The hearing, entitled “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations,” is set for July 16th at 10AM ET. The plans come shortly after Facebook formally announced its new cryptocurrency and blockchain ecosystem, Libra. Facebook’s plan was met with harsh criticism from lawmakers, as well as calls for investigation into the potential consumer risks. It’s unclear who all will be testifying, but sources tell The Verge David Marcus, co-creator of Libra and Calibra lead, will be in attendance.
Bitcoin price hits 1-year high on boost from Facebook's Libra plan

Bitcoin price hits 1-year high on boost from Facebook's Libra plan

The digital currency project Facebook detailed on Tuesday will take up to a year to become publicly available and two to five years to be judged a success or failure. But even before it became official, the project, known as Libra, has been able to do what seemed impossible: Drag the price of bitcoin out of the doldrums and to a one-year high. Since March, the value of bitcoin, the best-known virtual currency, has nearly tripled. It hit a high of $9,469 in the evening of June 17 -- hours before Facebook revealed a white paper detailing Libra, its cryptocurrency project.
Bakkt Reveals Bitcoin Futures Contract Details Ahead of July Test Date

Bakkt Reveals Bitcoin Futures Contract Details Ahead of July Test Date

The Intercontinental Exchange’s pending bitcoin platform Bakkt plans to begin testing its two futures contracts on July 22 of this year. In a blog post that likened Bakkt’s launch to the Apollo 11 moon landing, chief operating officer Adam White wrote Thursday that the platform will “initiate user acceptance testing” for its bitcoin futures contracts, which will be listed and traded by its parent company. Bakkt announced last month that it would begin testing in July, though it did not provide a specific date at the time. In addition to the date, ICE provided new details for Bakkt’s monthly contract, as well as updated the contract specifications for its daily contract.
Coinbase launches its cryptocurrency debit card in six more countries in Europe

Coinbase launches its cryptocurrency debit card in six more countries in Europe

Digital currency exchange Coinbase announced Wednesday its Visa debit card is to launch in six more European countries after debuting in the U.K. in April. The card allows users with Coinbase accounts to spend cryptocurrencies like bitcoin, ethereum and litecoin in stores and online at any merchant that accepts Visa. Coinbase U.K. CEO Zeeshan Feroz told CNBC in an interview the goal of the card is to make payments with digital currencies as seamless as paying with cash. “You can buy groceries on bitcoin and then coffee on litecoin right after,” he said. As of Wednesday, the “Coinbase Card” will be available in Spain, Germany, France, Italy, Ireland and the Netherlands.
CCN is Shutting Down after Google’s June 2019 Core Update

CCN is Shutting Down after Google’s June 2019 Core Update

As data from SEO analyzer Sistrix shows, our visibility on Google dropped from 1.2 to less than 0.6. You might say we ought not to face any issues since we’ve been at those levels and lower, in the past. What you need to realize is that we have added more people to the team, both full-timers and part-timers. We do not want to downsize the team, we do not want to break the morale of the team. So yes, this change by Google is directly having a significant impact on us as a small independent news organization that has never received any outside funding. The money we made on advertisements was directly funneled back into growing the team.
Litecoin Halving Set For Aug. 25, 2015; Uncertainties Loom Over Price

Litecoin Halving Set For Aug. 25, 2015; Uncertainties Loom Over Price

Litecoin, a peer-to-peer currency and open-source global payment network, announced it will be halving on Tuesday, Aug. 25, marking what the Litecoin Association calls a milestone in the cryptocurrency’s 4-year history. The association has produced a video that describes the halving’s significance to Litecoin. After the halving, Litecoin will reward miners 25 coins rather than 50 new coins per block for solving blocks, Litecoin explained in a video. “The halving process doesn’t just happen once,” the video explained. This process happens every four years for both Litecoin and Bitcoin, as stated in their respective codes.
Walmart Joins Pharmaceutical-Tracking Blockchain Consortium MediLedger

Walmart Joins Pharmaceutical-Tracking Blockchain Consortium MediLedger

Big-box retail giant Walmart has joined MediLedger, a consortium building a blockchain for tracking the provenance of pharmaceuticals. A spokeswoman for the Bentonville, Arkansas-based company confirmed Walmart’s participation to CoinDesk but had no further comment. The move representsa deepening of Walmart’s involvement with blockchain technology. Separately, the retailer is a key participant in IBM’s Food Trust, a system for tracking fresh produce through the supply chain that’s built on the Hyperledger Fabric platform. 
Bitcoin Breaks $9,000 In Latest Landmark Price Point

Bitcoin Breaks $9,000 In Latest Landmark Price Point

Thursday, May 30 —  in the latest milestone of its renewed bull run, bitcoin (BTC) today broke past $9,000, soaring to its highest price point in over a year. Most of the top 50 cryptocurrencies are seeing solid green, as Coin360 data shows. Bitcoin broke the psychological price point of $9,000 earlier today, hitting a high last seen in early May 2018. To press time, the top coin is up 1% on the day and is trading at $8,802, according to CoinMarketCap data. In recent days, bitcoin had been comfortably trading in the $8,600-800 range. On the week, the cryptocurrency’s gains have surged to a bullish 14.5%.
Report to Congress ponders a future of cryptocurrency over cash

Report to Congress ponders a future of cryptocurrency over cash

Congress may be beginning to contemplate a country where cryptocurrency — not cash — is the coin of the realm. The Congressional Research Service examined the decline in cash usage in the United States and the potential rise of alternative payment systems, including bitcoin or other digital assets, in the purchase of goods and services. The CRS is tasked with producing nonpartisan advice on issues that may come before Congress, especially when lawmakers express interest in a certain subject. Alternative payment systems are gaining steam as lawmakers introduce legislation that would require stores to take cash and examine the impact of financial technology, or fintech.
JPMorgan Adds Privacy Features to Ethereum-Based Quorum Blockchain

JPMorgan Adds Privacy Features to Ethereum-Based Quorum Blockchain

JPMorgan Chase’s blockchain team has developed a privacy feature for ethereum-based blockchains, obscuring not only how much money is being sent but who is sending it. Revealed exclusively to CoinDesk, JPMorgan has built an extension to the Zether protocol, a fully decentralized, cryptographic protocol for confidential payments, compatible with ethereum and other smart contract platforms and designed to add a further layer of anonymity to transactions. The New York-based financial institution will open-source the extension Tuesday, and is likely to use it with Quorum, the bank’s homegrown, private version of ethereum.
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