Bitcoin News and Finance: What You Need to Know

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The governor of the Bank of England, the British central bank, says bitcoin has no intrinsic value and the cryptocurrency is not suitable as a practical means of payment. His warning came after the crypto market plunged. Andrew Bailey on Bitcoin and Cryptocurrency Bank of England Governor Andrew Bailey warned about bitcoin and cryptocurrency on the Jobs of the Future podcast, published Monday. His warning came after the crypto market plunged, shedding close to $500 billion this month. Bitcoin, the largest cryptocurrency, has fallen more than 25% over the past 30 days. While admitting that blockchain, the underlying technology of cryptocurrencies, is important, Bailey is unconvinced about bitcoin as a means of payment. He added that Britain’s central bank is looking at its own digital currency. He continued: In terms of payments, I don’t think it will be crypto in the a sort of bitcoin sense of the term. I don’t think that is really a practical means of payment. The central ba...

Guggenheim Chief Investment Officer Scott Minerd Says there’s a lot more downside to crypto after the market plunged. He has predicted that the price of bitcoin could fall to $8K. Guggenheim’s Scott Minerd Predicts the Future Outlook for Bitcoin, Crypto Bitcoin bear Scott Minard, global chief investment officer of Guggenheim Partners, shared his recent predictions on bitcoin and the crypto sector in an interview Monday with CNBC at the World Economic Forum in Davos, Switzerland. Commenting on the recent crypto market decline, Minerd said: “We are seeing crypto collapse the way it is. I think it’s got more downside.” He was asked how much more downside. “When I look at bitcoin, which the technicals have been better than anything else,” the Guggenheim CIO explained: When you break below $30,000 consistently, $8,000 is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive. “Let’s face it, most of these currencies are – ...

A crypto investor has been arrested after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is now under investigation by the South Korean police. “I felt like I was going to die,” he said about losing his investments. Investor Under Investigation for Going to Do Kwon’s Home The collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST) has wiped out a large number of investors. One investor in particular sought direct answers from Kwon Do-hyung (aka Do Kwon), CEO of Terraform Labs who is behind the two cryptocurrencies. The investor, known as “Chancers,” is a Korean social media personality who conducts streams on cryptocurrency-related topics. He lost around 3 billion won ($2.4 million) in the LUNA and UST collapse. He told BBC News: I felt like I was going to die. I lost a lot of money in a short period of time. Around $2.4m of my cryptocurrency was wiped out. He explained...

PRESS RELEASE. D’CENT Hardware Wallet recently added a new user-focused feature named ‘Exchange’ under the platform’s ‘Discovery’ tab menu, allowing users to exchange multiple network cryptocurrency assets with only a few clicks. Furthermore, users may acquire cryptocurrencies using their credit cards directly from the ‘Buy Cryptocurrency’ tab, thereby bypassing the need for crypto exchanges. Details about the wallet D’CENT provides three types of wallets, namely ‘Biometric’, ‘Card Type’, and ‘App’, all of which are handled through a single D’CENT mobile application that is fully compatible with both iOS and Android smartphones. D’CENT users may convert their cryptocurrencies into supported coins using the ‘Exchange’ menu and can purchase crypto via the ‘Buy Cryptocurrency’ options without using traditional exchange services as aforementioned. In this way, D’CENT has effectively eliminated the need for users to register their crypto wallet addresses which means that they are giv...

During the last few years, cryptocurrencies have been integrated into traditional finance tools like automated teller machines (ATMs), loadable debit cards, point-of-sale devices, and direct payments for all kinds of goods and services. Digital assets have also been added to retirement account offerings issued by financial giants like Fidelity. In recent times, cryptocurrencies can be further capitalized to put a down payment on a mortgage or get a conventional home loan using bitcoin as collateral. Crypto-Backed Conventional Home Loans These days, at least in the United States, banks require at least 20% down if a person or a couple wants to purchase a home by leveraging a conventional loan. Typically, people use cash for collateral or a down payment, but Americans can also utilize things like business equipment, inventory, invoices, blanket liens, and even other forms of real estate to secure a traditional mortgage. As of April 8, 2022, the median home price in the U.S. was $392,...

With the approaching tsunami of central bank digital currencies (CBDCs) looming ever closer, it shouldn’t come as a surprise when central banks shill their coins at the expense of sounder assets. Recently, European Central Bank president Christine Lagarde went so far as to say that cryptocurrency is “worth nothing.” According to Lagarde, crypto has “no underlying asset” like the upcoming digital euro. But fiat money’s secret source of value is the real explosive scandal. ‘Worthless’ Innovation European Central Bank President Christine Lagarde recently remarked that crypto is “worth nothing” and needs to be regulated. Nevermind the humor in trying to regulate something worthless, or her failure to understand subjective value, but the once- convicted criminal Christine said something that was very interesting: [With crypto] there is no underlying asset to act as an anchor of safety. She was making this observation in comparison to the upcoming digital euro central bank digital c...