Finance Minister confirms: India does not plan a general ban on cryptocurrencies

Minister Nirmala Sitharaman signals openness and rather wants to give the crypto industry „room for experimentation“.

Reports of an Indian general ban on cryptocurrencies are proving to be scaremongering (FUD) after all.

As Indian Finance Minister Nirmala Sitharaman confirmed in an interview with CNBC yesterday, the media reports about a planned general crypto ban are clearly exaggerated. Although there are still fierce negotiations going on Bitcoin System behind the scenes to regulate the crypto industry, she herself expects a moderate outcome.

„Yes, there is a lot of negotiation, there is a lot of discussion, first and foremost with the central bank,“ Sitharaman says. To which she adds, „Of course, the Reserve Bank of India will take the lead in deciding which cryptocurrencies will be allowed and how they will be regulated, but we want to ensure as a government that there is enough room for all kinds of experimentation in the crypto industry.“

Accordingly, she stresses that any crypto regulation will be far less „stringent“ than has often been previously rumoured. Regulators would rather have to orientate themselves on their own country, not on the still very mixed bag that is spilling over from the rest of the world on the topic of cryptocurrencies. In conclusion, the Finance Minister states:

„Technological progress is furious. But that is why we must not react in a negative way. […] Let me put it this way, we are not closing our minds, we will look at how we can enable experimentation in the digital world, in the crypto world.“

Finance Minister @nsitharaman says „Govt. wants to ensure there’s a window for experiments in cryptocurrency space“. ⁰Time for India to innovate and shine!@FinMinIndia pic.twitter.com/fbSH2hzTC4
– BlockchainedIndia (@blockchainedind) March 6, 2021

Sitharaman’s comments should come as a huge relief to the crypto community in the world’s second most populous country.

Just this month, Bloomberg had fuelled the narrative around a blanket ban, with a former finance minister of India confirming the alleged ban to the paper

For some time now, the discussion on the matter has been a source of fuel in the crypto industry, with one expert seeing the effort as a desperate attempt at regulation that would be comparable to an attempted ban on the internet. At least some Indian crypto companies have not been deterred by this and have continued their business.

The social media network says that scaling solutions for Ethereum are the focus of the partnership.

The popular social media network Reddit, which has over 1.7 billion monthly visitors, is deepening its relationship with the Ethereum Foundation.

For the first time, the two platforms are entering into an official blockchain partnership

According to an announcement by Reddit admin u / jarins, the goal of the partnership is to „increase the site’s commitment to blockchain, accelerate scale and resources for the Ethereum ecosystem, and reassure millions of Redditers the value and independence of blockchain- Bringing technology closer „.

In 2020, Reddit had already launched two large, Ethereum-focused projects. The first was an application called Community Points . This is a reward system that rewarded Bitcoin System users with ERC-20 tokens for contributing engaging content on the platform. Reddit then announced a competition called „The Great Reddit Scaling Bake-Off“. This was about submitting Ethereum scaling solutions that could help applications such as Community Points get into the mainnet phase and eventually expand this application to all of the network’s over 400 million monthly users.

This official partnership with the Ethereum Foundation focuses on developing scaling technologies that can support large-scale applications such as community points on the Ethereum blockchain. The project is being led by Reddit’s in-house crypto team and the announcement includes a call to all backend engineers with an interest in scaling up. Even if they would be interested in joining the Reddit crypto team to help work on developing a more decentralized internet.

All of the scaling technology developed by the new partnership will be publicly available, i.e. open-source

According to the post, Community Points are currently in beta on the Rinkeby network and are being tested in r / Cryptocurrency and r / FortNiteBR. Reddit sees the application as a „first attempt at leveraging decentralized technology to give individuals a sense of accountability and ownership of the communities they create and contribute to“.

For the past few days, Reddit users have made headlines for their coordinated daily trading action. In doing so, they wanted to drive up the shares of the game retailer GameStop and thus bring losses to experienced hedge funds.

Amid a booming market for non-fungible tokens (NFTs), an ultra rare „alien“ CryptoPunk sold for $ 762,000. CryptoPunks are considered to be the project that inspired the CryptoArt movement.

A $ 762K CryptoPunk

A non-fungible token (NFT) from the CryptoPunks collection was sold this Saturday, January 23 for 605 Ethers (ETH) or $ 762,000 at the time of acquisition.

CryptoPunks are widely regarded as the pioneering project in the field of NFTs , since they predate the creation of CryptoKitties and the ERC-721 standard.

Larva Labs behind CryptoPunks report that the collection has generated $ 26 million in sales since inception, and that the average sale price of a Punk over the past year has been $ 6,199.

CryptoPunks are 24×24 pixel , algorithmically generated digital works of art . Most are punk-looking men and women, but there are a few more rare types such as monkeys, zombies, and even aliens. Each punk has their own profile page that shows their attributes as well as their sales history ( see an example ).

The Punk ( # 2890 ) which sold for 605 ETH is one of nine existing Alien Punks . It had been acquired in July 2017 for the modest sum of 8 ETH (approximately $ 2,127), a very interesting return on investment for the seller.

Who is the acquirer?

The new owner of the NFT is a decentralized autonomous organization (DAO) called FlamingoDAO. The collective aims to invest in digital works of art. The official FlamingoDAO official said on Twitter:

“It’s simple: CryptoPunk is a revolutionary project (…) Aliens are the rarest form of CryptoPunk and we believe it will be appreciated by collectors over time and become an iconic digital work of art  ”.

Falmingo’s decision to outbid this “rare opportunity” would have been taken in 25 minutes on Discord.

“It’s understandable that people are skeptical about NFTs, but in our opinion, NFTs are the future of not only digital art, but all digital property as well . “

The craze for NFTs does not seem to end. Earlier this week, a collection of digital artwork on Rick and Morty sold for $ 1.65 million .

La prévision du prix Bitcoin s’attend à une baisse au niveau de 32000 $.

La forte résistance se situe à 37500 $.

Le support solide se situe à 35500 $

Le roi des crypto-monnaies a déçu les traders car il ne pouvait pas dépasser le record de 42000 $. Le roi, à partir de maintenant, se déplace vers le bas. Bitcoin a atteint un sommet pour le tableau des prix sur 24 heures à 39840 $ en début de journée, mais seulement pour descendre au plus bas sur 24 heures à 34400 $. Après avoir pris de l’élan, le roi a retrouvé une stabilité de l’ordre de 36 000 $. Au moment de la rédaction de cet article, Bitcoin s’élevait à 36 743 $.

Le marché du Bitcoin est haussier. Sur le total des indicateurs techniques, 14 sont à l’achat, tandis que neuf indications sont neutres avec cinq indications de vente. Parmi les indicateurs totaux de l’oscillateur, la plupart sont neutres, avec une indication de vente et deux indications d’achat au moment de la rédaction. Sur les 17 moyennes mobiles, 12 donnent des indications d’achat avec quatre indications de vente et une indication neutre.

Prédiction du prix Bitcoin: à quoi s’attendre?

Dans ses prévisions de prix Bitcoin , l’analyste Alan Masters déclare que les baissiers ont gagné le roi des crypto-monnaies, alors que Bitcoin se déplace plus bas pour établir des sommets moindres. Après quelques jours de retrace, la crypto-monnaie a commencé à prendre de l’ampleur et les analystes étaient optimistes; cependant, il semble que le roi ait déçu tout le monde. L’analyste estime que le prix de Bitcoin doit suivre le mouvement baissier et plonger. L’indice de force relative (RSI) et la divergence de convergence moyenne mobile (MACD) ont tendance à baisser, alimentant davantage l’élan baissier.

Masters estime que Bitcoin fait face à une ligne de résistance à la baisse, ce qui poussera Bitcoin à la baisse. Bitcoin a précédemment testé l’EMA-21 avant de monter en établissant un plus bas; Selon l’analyste, cela signifie que Bitcoin va maintenant tester la prochaine moyenne mobile exponentielle (EMA) comme support, qui est EMA-50 (en rose foncé). Le prochain prix cible de la crypto-monnaie peut être de 27795 $, ce qui se situe à l’EMA-50. Les niveaux de retracement de Fibonacci de 0,382 (32 151 $) suivis de 0,5 (29 109 $) et 0,618 (26 066) serviront également de niveaux de soutien solides. Cependant, l’analyste ajoute que si le prix du Bitcoin ferme au-dessus de 36180 $, l’analyse est invalidée.

A Bitcoin bet that paid off – There is no shortage of fantastic life stories to tell among those interested in Bitcoin (BTC), from its earliest years of existence. This is the case of a user of the Reddit social network, who announces that he fell into Bitcoin in 2011, with all the emotional roller coasters that this implies.

5 BTC removed to make room for a video game

You may have followed our incredible stories from the Taihuttu family or this Japanese restaurateur , who bet on Bitcoin as early as 2013. It had already changed their lives . But today is the story of an even earlier early adopter of the cryptocurrency created by Satoshi Nakamoto.

On Reddit, user Graphene_Hands tells us, in a long post , how his adventure with the king of cryptos began:

“I first heard about Bitcoin in 2010, on one of the many forums I have frequented in my libertarian internet circle . It was an interesting concept for me, but I didn’t pursue it at all [at first]. “

A few months later, the same year, he briefly had fun creating a Bitcoin wallet , to collect a few cents (at the time) of bitcoins via a faucet : around 5 BTC , he said (i.e. the trifle of … 170,000 dollars today).

But he quickly gave up on this first experience, removing the wallet (and its bitcoins) forever to “probably make room for a Steam video game” .

2011: the first purchase and mining

It was a little later, in May 2011 , that our friend fully converted to Bitcoin. At that time, he explains that he spent all his free time studying Satoshi Nakamoto’s creation:

“After a week or two of obsessing and reading about Bitcoin, I decided it was the most important invention since the internet – the most perfect form of money ever created. One of the most ingenious systems ever designed by man (…) ”

At that time, the Mt Gox platform was a must-have for buying bitcoin for fiat money. He wanted to invest $ 500 to try to get some BTC, at $ 3 each .

Problem: By the time his money got to Mt Gox, our poor friend saw bitcoin keep rising . So he got caught in FOMO (fear of missing out on a good deal). So, 3 days after he initiated his money transfer, he was finally able to jump on Bitcoin (and too bad if its price was then on a historic high ). He bought 50 BTC at $ 10 apiece .

He is still announcing HODLer today those first BTCs (which he thank goodness removed from Mt Gox before the platform collapsed ), worth $ 1.7 million as of this writing. lines. It leaves you dreaming!

ETH is making serious inroads in terms of BTC and USD, which a Cointelegraph analyst says is a classic sign that altcoins are coming back from the dead

Ether ( ETH ) broke a price critical point in relation to Bitcoin ( BTC ), signaling that altcoins may be about to make big gains.

I would bet on Ether „all day“ – Winklevoss

Data from Cointelegraph Markets , Coin360 and TradingView showed that ETH / BTC surpassed the essential level of 0.026 in just one daily sail on January 3.

„I believe we’re seeing the money shift from BTC to altcoins and that Ether has hit rock bottom on the BTC pair,“ explained Van de Poppe. „So probably the continuation of a season this quarter with the end of Bitcoin Rush dominance“. He added:

After remaining weak throughout December, Ether recovered in the early days of 2021, and Sunday’s performance could be the start of something much bigger.

As Cointelegraph Markets analyst Michaël van de Poppe noted last week, 0.026 BTC is a significant breaking point, and turning to support indicates „strength and continuation“ of a bullish resurgence.

„It’s time for #Ethereum, #Polkadot, #Cardano, #Chainlink and more to break all-time records,“ he told Twitter followers on Sunday.

„But hey, a Bitcoin correction would be appreciated too.“

Until now, ETH/USD was approaching its own reference price levels, targeting $ 1,000 based on daily gains of 21%. The last time the pair was traded at four figures was in January 2018.

„$ ETH was the best performance (up to 450%) in 2020 hands down and still below its all-time high,“ Cameron Winklevoss, entrepreneur and co-founder of Exchange Gemini, added on Twitter.

„Today it’s the equivalent of 15K #Bitcoin. I would bet all day.

Is Altseason here at least?

With the prospect of „altseason“ now firmly back on the menu, the top ten altcoins with market capitalization are giving signs of life against Bitcoin.

Litecoin (LTC) rose 18% against the largest cryptomeda, while Bitcoin Cash (BCH) is 13.3% higher and Cardano (ADA) 9.7%.

Even XRP , still fighting behind a legal action against Ripple , is recovering again with 3.5% daily progress in terms of BTC. The overall market capitalization of Bitcoin remains above 70%.

While Cointelegraph reported, a long-term investment with altcoins may also be profitable this year. Ethereum mining, for example, could yield more than $120,000 per year.

Das Business-Intelligence-Unternehmen erhöhte seinen Aktienkurs nach der Ankündigung eines neuen Bitcoin-Fonds.

Erhalten Sie tägliche Krypto-Briefings und wöchentliche Bitcoin-Marktberichte direkt in Ihren Posteingang.

Das Business-Intelligence-Unternehmen Greenpro hat Pläne zur Einrichtung eines Bitcoin-Investmentfonds angekündigt.

Das Unternehmen beabsichtigt, bis zu 100 Millionen US-Dollar für den Fonds aufzubringen und auch sein eigenes Geld zu investieren.

Der Plan ähnelt der früheren Bitcoin-Investition von MicroStrategy.

Greenpro Capital Corp. plant die Einrichtung eines Bitcoin- Investmentfonds, wie in einer heute veröffentlichten Pressemitteilung angekündigt .

Bitcoin zu Bilanzen hinzugefügt

CK Lee, CEO von Greenpro, sagt, dass das Unternehmen „voll und ganz an $ BTC als Wertspeicher glaubt“. Lee sagte, er habe die Investmentbanker des Unternehmens angewiesen, Schuldtitel an Investoren zu verkaufen, um bis zu 100 Millionen US-Dollar für die Bitcoin-Investition aufzubringen. Er fügt hinzu, dass das Unternehmen selbst auch sein eigenes Geld in Bitcoin investieren wird.

Die Strategen von Greenpro glauben, dass Bitcoin und andere wichtige Kryptowährungen wie Ethereum eine höhere Chance auf Preissteigerung haben als Fiat-Währungsbestände. Er fügt hinzu, dass zahlreiche Banken, Hedgefonds, Versicherungsunternehmen und Institutionen an Bitcoin-Anlagen interessiert sind.

Greenpro wird seine Investition über eine Tochtergesellschaft, CryptoSX, tätigen.

Der Kurs der Greenpro-Aktie (GNPR) stieg nach der Ankündigung um 103% auf ein Hoch von 2,60 USD.

Andere Unternehmensinvestoren

In ähnlichen Nachrichten stieg der Aktienkurs von Marathon um über 30%, nachdem er einen Vertrag über 170 Mio. USD mit dem Bitcoin-Bergbauhardwarehersteller Bitmain unterzeichnet hatte. Der größte nordamerikanische Bergmann wird bis Dezember 2021 seine bestehende Farm mit 33.000 Einheiten um 70.000 S19-Bergleute erweitern.

Microstrategy bleibt jedoch das bedeutendste börsennotierte Unternehmen mit einer Bitcoin-Investition. Das Unternehmen investierte im vergangenen Jahr 475 Millionen US-Dollar und sammelte im vergangenen Monat weitere 650 Millionen US-Dollar über vorrangige Wandelanleihen, was einer Bitcoin-Gesamtinvestition von über 1 Milliarde US-Dollar entspricht .

Der Preis von Bitcoin ist seit Monatsbeginn um 37% und seit Jahresbeginn um 275% gestiegen. Während hyperaktiver Bullenmärkte haben die Aktienmarktallokationen an Bitcoin als starker Katalysator für einen Aufschwung gewirkt.

Satoshi Nakamoto would have been in London while he was writing the Bitcoin whitepaper.

After all these years, the inventor of the first blockchain is still anonymous, but there are more and more theories about who he might be.

And so, new research from The Chain Bulletin suggests that he would have lived in London.

The research is based on an analysis of all Satoshi’s writings left on the web, including 539 posts on the Bitcointalk forum, 34 emails, 169 codes, metadata from the whitepaper, several Wayback Machine archives and the genesis block.

All the research is based on timestamps of his writings, from which we can see that the various posts and emails were written in the UTC time zone, i.e. London time zone.

In fact, first of all the research starts by saying that when Satoshi announced the creation of Bitcoin his email of December 13, 2010 had a time stamp based on the UTC time zone, as well as his posts on Bitcoin Freedom and other emails.

Satoshi Nakamoto and the title of the London Times

In addition, the genesis block featured the title of the front-page article in the Times of London newspaper on 3 January 2009, the famous „Chancellor on Brink of Second Bailout for Banks“.

The researcher explained that:

„This exact issue of the Times did not come out in the United States“.

This would suggest that Satoshi would have had to be in London to read that article, as the online version of the same article also had a different title.

By the way, looking at the distribution data of the hard copies of the Times at that time, we read that 1 out of 2 copies were distributed in London, so this makes it likely that Satoshi was in the Capital and not in some other English town.

Obviously nothing is certain and who knows if one day we will ever find out who Satoshi Nakamoto is, if a single person, a woman, a group of people or if he is still alive. Of course, the search to find out who he is will continue for a long time.