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🗞 Daily Crypto News, February, 25th 💰

76
5 years ago
in#bitcoin

  • Justin Sun Bought Steemit. Steem Moved to Limit His Power ;
  • Lightning Solves Bitcoin’s Speed Problem, But Watch Out for Fraudsters
  • Bitcoin Price ‘Golden Cross’ Hints at 170% Rally to $26K by Halving ;
  • ‘World is Ready for Private Money’ - JPMorgan
  • Senior Bank of England Official Calls for Urgent Digital Fiat Action ;
  • 🗞 Daily Crypto Calendar, February, 25th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Justin Sun Bought Steemit. Steem Moved to Limit His Power

The people who run the Steem blockchain executed a reversible soft fork Sunday, stopping one of the largest piles of tokens from voting. The move comes days after Justin Sun’s Tron Foundation acquired Steemit, the blockchain’s most prominent app.

The protective measure is a striking one in the cryptocurrency space and illustrates some of the thought-provoking realities of delegated governance.

The blog post describing the fork describes the involvement of a well-resourced entity as potentially very exciting. But its authors were quick to qualify:

"In these early stages the most important task for witnesses [Steem’s version of bitcoin miners or EOS block producers] is to ensure the security of the Steem blockchain. To this end, we have updated to a temporary protective protocol to maintain the status quo currently established in regards to Steemit Inc's stake and its intended usage."

🗞 Lightning Solves Bitcoin’s Speed Problem, But Watch Out for Fraudsters

J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and a financial writer at a large Canadian bank. He runs the popular Moneyness blog.

I don't know about you, but the thing that got me interested in bitcoin was its potential to become a popular way to make payments and remittances. Over the years, we've been constantly disappointed on this front. Bitcoin payments just never caught on with the masses. Meanwhile, usage of fiat-based person-to-person payment tools like Venmo, Square Cash, Zelle and the U.K.'s Faster Payments have exploded.

Bitcoin's new lightning layer has rekindled the dream of bitcoin-as-generally-accepted medium of exchange. But lightning is prickly to use. Which is why Zap’s recent announcement of Strike, a new lightning application, caught my interest. Strike aims to popularize bitcoin payments by making lightning more user-friendly.

🗞 Bitcoin Price ‘Golden Cross’ Hints at 170% Rally to $26K by Halving

Bitcoin (BTC) can hit $26,000 in just two months thanks to a bullish event that previously triggered 170% price gains.

As noted by Cointelegraph Markets analyst, Keith Wareing, on Feb. 18, this week saw Bitcoin’s ascending 50-day moving average cross over its 200-day moving average.

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Known as a “golden cross,” the phenomenon is a rare occurrence for the cryptocurrency. Despite BTC/USD shedding almost $1,000 in recent days, Wareing is anything but bearish on short-term profit potential.

“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized on Twitter.

🗞‘World is Ready for Private Money’ - JPMorgan

The world may be on the verge of large-scale adoption of “private money” such as Facebook’s Libra, a major investment bank predicts, although there are still hurdles to overcome before the vision can become reality.

According to the JPMorgan Perspectives report, released this past weekend by the major investment bank JPMorgan Chase, people are ready to embrace so-called “private money,” meaning any type of currency issued by a private institution. The argument for this is that the vast majority of fiat currency as we know it today is already privately issued, by the way of fractional reserve banking.

In this system, which all nations today have adopted, private banks indeed create electronic money every time a loan is given out. However, governments in most countries still have a monopoly on issuing cash, although this only accounts for a very small portion of all the monetary transactions that are made in society.

🗞 Senior Bank of England Official Calls for Urgent Digital Fiat Action

Central banks in major economies continue to change their stance on digital currency issuance, with Sarah John, the Bank of England’s chief cashier, stating that it is “so crucial” that central banks act before tech giants establish dominance in the sector.

Per British newspaper the Telegraph, John said, “Absolutely [it] is really important that central banks think about [digital fiat issuance] as an option.”

John stated,

“We need to think as an institution about how to position ourselves to make sure society still has a broad range of payments that it can use with confidence. It is absolutely right that central banks think about whether [the] public sector or private sector would be best to provide a digital currency going forward.”

🗞 Daily Crypto News, February, 25th💰

  • Horizen (ZEN)

"ZEN 2.0.20 Upgrade before deprecation on Feb 25, 2020."

  • BitTorrent (BTT), TRON (TRX)

"@Justinsuntron will be live on Feb 25th at 6:00 PM PST to talk about the upcoming new features of #BTFS"

  • Travala.com (AVA)

Live Telegram AMA with Guarda Wallet Community from 3 PM to 4 PM (GMT).

  • Kyber Network (KNC)

CoinEx lists KNC BTC and USDT pairs. Deposits open Feb 24 at 3:00 (UTC). Trading begins Feb 25 at 3:00 (UTC).

  • Horizen (ZEN)

ZEN 2.0.19 will deprecate at block 680000, which is estimated to occur on Tuesday, February 25th at 20:47:57 GMT.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

image.png

Here is the current chart :

image.png

We are currently correcting on the STEEM due to the BTC correction. The problem is that our major support line around 0.21$ is currently broken. As you can see on the chart at 3 times, it could be a false break and we could see quickly a bounce to come back upper than this support line. If it is not the case, we could start a new down trend so let's hope it is just a false break.

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Last Updates

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5 years ago
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