A SIMPLY INTRODUCTION OF UCBI BANKING
A talk about our current financial system today is a very sensitive one. It is a discussion of control. Yes a control of our money, a control of our personal data, a control of our very life. The aim of the centralized financial system is control
Think about the Global financial crisis of 2008- 09. It’s all tied up to this system of control. Think about how it came about, who messed up? It was the central financial system. Who paid for the mess? It was you. Who decide to print too much fiat…
Binance Adds P2P Platform for Chinese Investors, Supports Alipay and WeChat
Leading cryptocurrency exchange Binance has added support for Chinese users of WeChat and Alipay, circumventing a Chinese ban on cryptocurrency exchanges by launching a P2P service that is accessible by Chinese citizens.
Binance’s P2P trading capability was announced October 9, 2019, giving Chinese investors the ability to trade bitcoin, ether and tether against the Chinese yuan. Access to the service was initially limited to Android users that have had Binance accounts for more than 30 days, with plans to offer the service to iOS and web users also announced.
Bitcoin Magazine’s Week in Review
The inclusion of cryptocurrencies in the tax system of the United States took an interesting, if unsatisfying, turn this week as well, when the Internal Revenue Service (IRS) published its Revenue Ruling 2019–24 on October 9, 2019.
A follow-up to the draft published by the tax authority back in 2014, the new guidance provides some clarity on how the agency would tax holders for airdrops and hard forks, as well as the classification of taxable activities. This publication is a significant step for crypto taxation, but the guidance creates more questions than answers.
Hong Kong Free Press Gives BitPay the Boot, Brings BTCPay Onboard
A Troubled Relationship
The Hong Kong Free Press is known for being particularly unbiased in its reporting. In a period where Hong Kong is mired in anti-government protests and political upheaval, many have turned to the publication as a means of getting unfettered, uncensored posts about events in Hong Kong.
The nonprofit depends on donations to run its operations, which was why it pitched its tent with BitPay, so it could receive bitcoin from donors easily. However, things became tense barely a month into this new partnership. At the…
Bitmain, Canaan Launch New Miners in Preparation for the Bitcoin Halving
On October 9, 2019, the China-based cryptocurrency mining giant Bitmain launched its two latest Antminer 17 models to an eager market. On the very same day, another leading ASIC producer, Canaan, also rolled out its next-generation bitcoin miner A11 series.
Both new mining rigs from the top-two bitcoin miner manufacturers feature much higher hash rates and efficiencies than previous models, with Bitmain’s S17+ model delivering a hash rate of 73 terahashes per second (TH/s) operating at 40 joules per terahash (J/TH), and Canaan’s A1166 miner being capable of processing…
Hong Kong’s Securities and Futures Commission (SFC) has recently released rules and regulations for fund managers dealing with crypto assets.
The securities regulator published a 37-page document titled “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets” on October 4, 2019. It provided detailed guidance for entities managing portfolios that invest in “virtual assets,” its term for cryptocurrencies.
According to the document, virtual asset fund managers in Hong Kong should at all times maintain liquid capital at a minimum of 3 million Hong Kong dollars (roughly $380,000) and its variable required liquid capital. …
So far, private individuals and firms have dominated the bitcoin mining sector. But things may soon be changing in Eastern Europe. In a video that has recently been getting attention, the president of Belarus spoke about the prospect of using the country’s nuclear power to mine bitcoin.
Naturally, this raised questions about how a country-backed mining initiative could help the Bitcoin network or the country that undertakes it.
Hong Kong is currently mired in one of the most widely covered political crises of 2019. And, meanwhile, the trading price for bitcoin in the country has been surging. Cryptocurrency prices around the world have been largely decreasing, but data from LocalBitcoins shows that residents of Hong Kong are now turning to bitcoin as a secure store of value in the face of upheaval against the government.
BTC/USDT Daily Chart On the chart, we can see that the price made a break of the lower resistance boundary of the “triangle with a flat bottom” formation in the zone of $9560–9580. At the same time, 157 SMA was broken, which confirmed the dominance of sellers. Now the price is trading around $8100–8250, at the border of the resistance of descending channel. Consolidation of the price indicates the current period of accumulation, interest of buyers and a potential return to the upper boundary of the descending channel to $9100–9200 zone. After the middle of the month, the price may…
Anyone who tells you about the history of cryptocurrencies, and bitcoin in particular, will point out that the entire cryptocurrency era began in 2008 in the wake of the worst financial crisis in 75 years.
In a recent opinion piece, Peter C. Earle, a research fellow at the American Institute for Economic Research, describes the increasing central bank negative interest rate phenomenon, the role of bitcoin in the financial space and how both investors and regulators should view the rise of the asset.
So far, private individuals and firms have dominated the bitcoin mining sector. But things may soon be…
UCBI Maroc is your blockchain data bank, it is a revolutionary banking concept that combines cryptocurrency rates with an international blockchain service