Bitcoin News and Finance: What You Need to Know

Argentina, the ailing South American country, is experiencing a cryptocurrency mining resurgence due to artificially low power rates maintained by subsidies from the national government. This fact, alongside exchange controls and the possibility of selling obtained assets at a higher exchange rate than the official one, is enticing more and more individuals to enter the mining business. Argentina Is Experiencing a Mining Boom Argentina is experiencing a mining boom, due to the highly subsidized power rates and exchange controls enabling miners to sell their mined bitcoins at a higher exchange rate than the official one established by the government. The surging interest in mining cryptocurrencies also has to do with the fact that Argentina is subject to capital controls that forbid citizens from exchanging more than 200 dollars for their local fiat currency, the peso; this, consequently, has also caused a rise in the demand of other convertible currency to safeguard their buying po...

Southdown Dental, a clinic in Mississauga, Ontario, is introducing a new payment option. Patients will soon be able to pay with cryptocurrency for its services. The dental clinic says it will take digital money for any procedure, from regular checkups to children’s braces. Canadian Dental Clinic Meets Rising Demand for Crypto Acceptance The dental clinic is stepping into the crypto world to address a “growing positive sentiment towards cryptocurrency.” Its management noted the increased use of digital coins in Canada’s consumer and services industry. Cryptocurrency offers users autonomy, reduces transaction fees, and facilitates quick and easy payments, the clinic pointed out in a press release. Southdown Dental provides services to the residents of Mississauga in the Greater Toronto Area, in Canada’s most populous province, Ontario. The clinic, which was established in 1989, takes pride in being an “early adopter of innovations” in the dental field, utilizing the latest availabl...

PRESS RELEASE. Toronto, Canada – June 1, 2021 – Created and rigorously tested by expert data scientists in cohort with expert traders, CryptoHawk.AI allows anyone to harness the power of artificial intelligence and machine learning for improved investment returns in crypto. With the software’s AI based predictions investors are able to remove stress, reduce risk, and save time all while taking advantage of volatility when investing in bitcoin and ethereum. How the solution works Cryptohawk’s data scientists have simulated human problem-solving and mental processing in a proprietary computerized model drawing the domain expertise of professional traders. CryptoHawk.AI’s algorithm analyzes millions of data points like volatility, variance, volume, sentiment, search, news, trends, and historical prices 24 hours a day. The algorithm synthesizes, evaluates and organizes data in-order to discover new patterns, anomalies, relationships and manipulates this data into real-time intelligence....

While it seems the big block vs. small block debate is over, it is still relevant in the cryptocurrency sphere and some users are still delving into the limits of big blocks. Mtrycz, a writer leveraging the read.cash blogging platform, claims to have mined 1 gigabyte (GB) block using a Raspberry Pi4 on the Bitcoin Cash scalenet, showing it is indeed possible to deal with these block sizes, albeit only in an experimental way for now. 1GB Block Mined With a Raspberry Pi4 Mtrycz, a writer who regularly posts experiments to the BCH-based blog platform read.cash , has achieved a mining breakthrough by mining a massive 1GB block with only the computing power of a Raspberry Pi4. Mtrycz claimed to have done this by using a new “light” template created last year by BCHN, the current leading Bitcoin Cash ( BCH ) full node implementation. However, this was no easy task. While the block did get mined, it took some time to get it done. According to his reports, the whole ordeal took more than...

A British man has shared his story of how his cryptocurrency addiction has led to criminal charges and landed him in a hospital for addiction treatment. He lost more than a million dollars of other people’s money trying to duplicate his previous success in cryptocurrency trading. Crypto Addiction on the Rise, One Hospital Is Treating Over 100 Crypto Addicts A British man has shared his story of how his cryptocurrency addiction turned him into a criminal, the BBC reported . Referring to him as Jake, the publication noted Sunday that he is currently in treatment at one of the only hospitals in the U.K. that treats people obsessed with gambling on the value of cryptocurrencies. His identity is not disclosed due to him still being treated at the hospital. Jake lost millions of pounds trading cryptocurrencies. He first bought bitcoin in 2015 but his addiction problem only started a couple of years ago. “I can pinpoint the exact moment it became a problem,” he described. “I had been erod...

The Swedish central bank’s governor says bitcoin will face tougher regulation given its sheer popularity that continues to grow. “When something gets big enough, things like consumer interests and money laundering come into play,” said Stefan Ingves, Governor of the Riksbank. Tougher Regulation Expected for Bitcoin Stefan Ingves, the governor of Sweden’s central bank, the Riksbank, said Monday that bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight due to their sheer popularity, Bloomberg reported. Even though regulators have voiced their concerns about bitcoin and other cryptocurrencies, they continue to gain popularity. They have attracted the biggest financial institutions to enter the space, including major investment banks Goldman Sachs and Morgan Stanley , which now offer crypto investments to their clients. A growing number of companies now accept bitcoin for payments, offer crypto-related services, and put BTC on their balance sheets. Goldman S...

The notorious dogecoin will be open for trading on Thursday, June 3, on the popular trading platform Coinbase Pro. In mid-May, Coinbase CEO Brian Armstrong revealed the meme-inspired crypto asset would be listed in six to eight weeks. It only took 18 days to get dogecoin added to Coinbase Pro but the coin is not yet added to the consumer application Coinbase.com. Coinbase Pro Opens the Dogecoin Gates Crypto traders can start depositing dogecoin (DOGE) to their Coinbase Pro accounts today, according to a blog post published on Tuesday. If liquidity conditions are met, trading will begin on June 3 at 9 a.m. (PT). Coinbase notes during the announcement that it takes great care toward looking at crypto assets that meet its standards. The exchange recently added support for tokens like 1inch (1INCH), enjin coin (ENJ), internet computer (ICP), cartesi (CTSI), and iexec (RLC). Coinbase Pro will tweet about the dogecoin order book moves in phases. “Once sufficient supply of DOGE is es...

New York, New York – June 1, 2021 – Sweet , the first NFT solutions provider to develop a platform that can mint and distribute NFTs at scale while maintaining a strong eco-friendly and consumer first approach, has just announced it has completed integration of the Polygon blockchain (previously- the Matic Network) into its NFT solution. Sweet is pioneering a new way for brands to distribute NFTs through engaging consumer experiences via a multi chain, or chain agnostic, approach. With the addition of Polygon, Sweet is now leveraging the Polygon / Matic Ethereum sidechain, avoiding the high gas fees and slow transaction processing that would otherwise prevent brands from creating and distributing NFTs at scale. Tom Mizzone, CEO and founder of Sweet shared his thoughts on the addition of Polygon, “Sweet’s blockchain agnostic approach provides optionality to our brand partners and gives us the ability to match the right blockchain NFT solution to a brand’s specific consumer applicati...

The creator of the popular bitcoin price model called stock-to-flow (S2F or S2FX) has added a new dot to his notorious chart. Plan B said on Tuesday that “we knew bitcoin would not go up in a straight line” and added that the market action is “starting to look like 2013.” S2FX ‘Intact’ Says Plan B “Plan B,” is a pseudonym leveraged by the Twitter account @100trillionusd and since March 22, 2019, he’s been documenting his popular stock-to-flow (S2F) price model . Similar to the tools and technical analysis models Bitcoin.com News has written about in recent days like the Golden Ratio Multiplier and Logarithmic Growth Curves , Plan B’s model is extremely popular and he recently updated it to the stock-to-flow cross-asset (S2FX) model. Basically, the model quantifies BTC ’s scarcity in a similar fashion to scarce assets like gold. It then leverages the bitcoin in circulation and quantifies it by yearly issuance with reward halvings as well. At the time of publication, the Bitcoin ...

Coinbase Card can now be used with Apple Pay and Google Pay, allowing cardholders to pay for goods and services using cryptocurrencies. Customers can also earn up to 4% in crypto rewards back when using their Coinbase Card with Apple Pay or Google Pay. Coinbase Enables Debit Card Use With Google Pay and Apple Pay Cryptocurrency exchange Coinbase announced Tuesday that Coinbase Card users “can now use your Coinbase Card with Apple Pay and Google Pay to make it even easier to spend crypto.” Coinbase further said that “Starting this week, we’ll invite select customers off the waitlist to begin earning up to 4% back in crypto rewards,” elaborating: Millions of people around the world use Apple Pay or Google Pay for everyday purchases, from grocery deliveries to pet supplies to home office goods. Now, you can earn up to 4% back in crypto rewards on this shopping when you use your Coinbase Card with Apple Pay or Google Pay. Coinbase explained that it “will automatically convert...

Nobuaki Kobayashi, the trustee that’s overseeing the Mt Gox civil rehabilitation proceedings, has published a proposal so Mt Gox claimants can vote in order to get reimbursed. The voting process will end on October 8 and more than 50% of the votes will be needed to solidify the settlement plan. Mt Gox Civil Rehabilitation Voting Process Begins Victims of the infamous Mt Gox breach may get a chance to get some funds after all of these years. That’s if the Tokyo-based bankruptcy official Nobuaki Kobayashi’s proposal passes by majority vote . Those who don’t vote will be submitted as a “nay” vote. “If you do not vote, you will be deemed to have voted against the Draft Rehabilitation Plan for the requirement of the amount of the voting rights,” the letter published on May 31 notes. Kobayashi’s letter further notes: We are pleased to inform you that the online voting function has been released on the online rehabilitation claim filing system— In addition to voting online for or again...

Two Chinese online brokerages have set out to enter the global crypto trading market. The platforms, Tiger Brokers and Futu, are planning to offer their services only outside the People’s Republic as Beijing is once again cracking down on bitcoin trading in the country. Major Chinese Online Brokers Dive Into Crypto Trading Beijing-based Tiger Brokers and Shenzhen-headquartered Futu, China’s leading online brokerages, have unveiled plans to start offering crypto trading services, the South China Morning Post reported on Tuesday. The Nasdaq-listed companies want to compete with established platforms such as Robinhood and Etoro for a share of the expanding global market. The two companies will not accept clients from mainland China, however, as authorities in their home country have recently reiterated a ban on cryptocurrency trading. The Chinese government has been going after crypto exchanges and payment service providers while vowing to continue closely monitoring China’s huge cr...

Rumors of a fourth and possible fifth round of direct stimulus checks have become a hot conversation topic this week, as lawmakers are urging the President to act. Over 80 U.S. legislators have sent letters to President Joe Biden and Vice President Kamala Harris asking the administration to push forward direct economic stimulus payments and extend unemployment benefits. 80 Legislators Urge Biden Administration to Push for More Stimulus Discussions concerning more Covid-19 relief stimulus have been increasing in recent days after the Biden administration proposed a $6 trillion budget last week. Following the “Build Back Better” proposal, a number of reports have been discussing rumors of a fourth and even fifth round of stimulus checks for American citizens. Of course, despite the headlines implying more direct payments are on the way and a large group of Democrats relentlessly asking the executive office to act, nothing has been approved yet. What the reports do say is that a fou...

One of India’s leading private banks with 5,608 branches and 16,087 ATMs, HDFC Bank, has published a report stating that “it is just a matter of time before Indian investors have legal access to crypto plays.” This statement came as the bank scrutinizes crypto transactions in customer accounts. HDFC Bank Predicts Legal Acess to Crypto in India HDFC Bank, a leading private bank in India, published a Treasury Research report last week detailing its view on cryptocurrency. HDFC Bank currently has 5,608 branches and 16,087 ATMs across India. The bank was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994. “Like most conventional investors, we are yet to reconcile the often-conflicting properties of cryptocurrencies,” reads the bank’s report, entitled “Cryptocurrencies: Fad or Forever?” While acknowledging that cryptocurrency “helped to hedge against sharp movements in other asset classes,” the bank’s economists argued that “...

DBS, Southeast Asia’s largest bank, has launched its first security token offering (STO) on its cryptocurrency exchange. The DBS Digital Bond is priced at 15 million Singapore dollars. “We expect asset tokenization to increasingly become more mainstream,” said a DBS executive. DBS’ First Security Token Offering DBS announced Monday its first security token offering (STO) on the DBS Digital Exchange (Ddex). The DBS Digital Bond, priced at 15 million Singapore dollars (US$11.37 million), comes with a six-month tenor and coupon rate of 0.60% per annum. It is offered as a private placement and DBS is the sole bookrunner for the transaction. The bank detailed: This paves the way for other issuers and clients to tap on Ddex’s capabilities to efficiently access capital markets for their funding needs and sets the stage for more STO issuances and listings on Ddex as asset tokenisation turns mainstream. Clifford Lee, Global Head of Fixed Income at DBS, said that “this marks the first of ...

Spain has not been a stranger to the popularity of cryptocurrencies, and with this popularity, also comes the attention of people and organizations wanting to capitalize on the subject. Spanish tribunals have been flooded lately with lawsuits involving cryptocurrency scams related to bitcoin and ethereum based platforms, and the people using these to scam other users for millions of euros. Cryptocurrency-Related Scams Flood Tribunals in Spain Tribunals from Spain are now being flooded with cryptocurrency scam-related cases, that are affecting thousands of citizens, according to local reports . With the recent price increase of cryptocurrencies, scammers are always looking to do a quick buck, and they have been successful in Spain. One of the biggest scams reported is the one associated with a company named Algorithms Group, which scammed more than 280 million euros from 300+ investors. The brain behind this scam is a man called Javier Biosca, who acted as a broker buying and sellin...

U.S. banking corporation BNY Mellon is gearing up to offer crypto custody services out of Dublin where it has just established a digital hub. The news coincided with a stark warning issued by a top central bank official in Ireland who said people should only buy bitcoin if they’re prepared to lose money. BNY Mellon to Provide Custody for Digital Assets Through Dublin-based Unit Following a decision to enter the cryptocurrency space announced in February, the Bank of New York Mellon has now created a “Digital Innovation Hub” in Dublin. The unit will act as a custodian for crypto assets, the Business Post reported, noting that with the move, “the banking giant, is betting on the future of bitcoin and other cryptocurrencies.” The hub will allow clients to hold, transfer and issue digital assets, the Irish publication detailed. Custodial services will be provided for a variety of assets including the cryptocurrency with the largest market cap, bitcoin ( BTC ), non-fungible tokens ( NF...