Cryptocurrency Market News: Bitcoin outflow from exchanges ...

r/Bitcoin recap - March 2018

Hi Bitcoiners!
I’m back with the fifteenth monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
And a lot has happened. It's easy to forget with so much focus on the price. Take a moment and scroll through the list below. You'll find an incredibly eventful month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in March 2018
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Daily analysis of cryptocurrencies 20191019(Market index 41 — Fear state)

Daily analysis of cryptocurrencies 20191019(Market index 41 — Fear state)

https://preview.redd.it/o50t8itz0jt31.png?width=796&format=png&auto=webp&s=a3c936483280c2b878df98140cab14b7aef11a69

PBoC’s YI Gang Met With Bank Of England Governor, Discussing Digital Currency Citing Jin10, YI Gang, Governor of the People’s Bank of China (PBoC), the country’s central bank, has met with Mark Carney, Governor of Bank of England, to exchange views on several fields like Brexit, financial cooperation, and digital currency.
COT Report: BTC Market Controlled By The Short Positions Citing the latest Commitments of Traders (COT) report on Bitcoin released by the U.S. Commodity Futures Trading Commission (CFTC), Asset Managers’ accounts that reflect the buyer group witness a recovery in the long positions. Long positions of Dealers’ accounts now see an increase, which indicates that the price may reach the bottom. In general, the short positions currently controlled BTC market.
#Eurasia Summit# Emin Gün Sirer: New Protocols Will Change DeFi Game And Promise Which Is Delivered In Dream Istanbul today (Oct 19) welcomes its second day of the Eurasia Blockchain Summit jointly held by Huobi and Kemer Partners. Speaking in the conference, Emin Gün Sirer, professor of Cornell University, founder of AVA Labs, co-founder of bloXroute and co-director of the Initiative for Cryptocurrencies and Contracts (IC3), talked about the three phases of the blockchain evolution and brought a gift home — AVA Private Testnet. It has a comprehensive ecosystem, including the native token, the token platform, the community governance as well as the DApp platform. “New protocols will change the DeFi game and the promise which actually is delivered in the dream. We are looking for the broad community involvement, no matter with researchers and developers or both on the platform and on the application layer,” he added.
NY District Court Postpones Telegram’s TON Hearing To 2020 The United States District Court for the Southern District of New York has postponed the hearing regarding the Securities and Exchange Commission’s (SEC) injunction filing against Telegram Open Network (TON) and its Gram token to Feb 18–19, 2020. It said: “IT IS ORDERED that Defendants shall not offer, sell, deliver, or distribute ‘Grams’ to any person or entity, until the conclusion of the hearing scheduled by the Court for February 18 and 19, 2020 (‘Hearing’), except upon further order of the Court or agreement of the parties. At the Hearing, any party may move the Court for the continuation or dissolution of this Order.”

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.

Encrypted project calendar(October 20, 2019)

GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward! Aeternity (AE): 20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply! FN/IPFS&Filenet: IPFS&Filenet (FN) will be launched on the UP project Filenet (FN). The UP subscription time is from 14:00 on October 20, 2019 to 18:00 on October 20, 2019.

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money. Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains. Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper. Kuverit (KUV) : IDAX will list #Kuverit (KUV) and open trading for KUV/BTC trading pair. is going to be listed on 21 Oct, at 10:00 am (UTC+8).

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22. Locus Chain (LOCUS): 22 October 2019 Public Test Begins Public test runs for three days from October 22nd to October 24th. IOTA (MIOTA): 22 October 2019 EclipseCon Europe Next week, join Lewis Freiberg, our Director of Ecosystem, to learn how to build an ecosystem around IoT focused distributed ledgers.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th. Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers CloakCoin (CLOAK): 23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.” Loom Network (LOOM): 23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST).

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24. Horizen (ZEN): 24 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. ANT/Aragon: Aragon (ANT) Aragon Network will hold the theme “DAO: ICO and DeFi next step” in Hong Kong on October 24th? DATA/Streamr DATAcoin: Streamr DATAcoin (DATA) Streamr Network Technology Exchange and Project Development Conference will be held in London on October 24th. Lisk (LSK): 24 October 2019 Coding Workshop — Berlin “During this workshop you will acquire the skills to create custom transactions with the Lisk Alpha SDK using Node.js.”

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25. Crypto.com Coin (CRO): 25 October 2019 Live AMA with CEO “Live AMA with our CEO @Kris_HK on @cryptocom’s Twitter next Friday, 25 October, 11AM HKT.”

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th Horizen (ZEN): 26 October 2019 (or earlier) ZEN 2.0.19 Upgrade Zen 2.0.19 upgrade at block #610000, which is expected around October 26.

Encrypted project calendar(October 27, 2019)

ICON (ICX): 27 October 2019 Money 20/20 USA Event Money 20/20 USA in Las Vegas from October 27–30.

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th Stellar (XLM): 28 October 2019 Protocol 12 Upgrade Vote Horizon v0.22.0 has been released, which supports Protocol 12. This gives everyone ample time to prepare for the Protocol 12 upgrade vote Celsius (CEL) and 3 others: 28 October 2019 Litecoin Summit “…The Litecoin Summit offers two fun, jam-packed days with something for everyone.”

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st. ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.” Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019. Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.”

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.” TRON (TRX): 30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.” Horizen (ZEN): 30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more. Aeternity (AE): 30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.” Valor Token (VALOR): 30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!” Aragon (ANT): 30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM. Kambria (KAT): 30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31. Ethereum Classic (ETC): 30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”

Encrypted project calendar(October 31, 2019)

Spendcoin (SPND): 31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019. Spendcoin (SPND): 31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019. Stellar (XLM): 31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.” Bitcoin SV (BSV): 31 October 2019 (or earlier) BSV Conference Seoul No additional information. Seele (SEELE): 31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 . Howdoo (UDOO): 31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October. Chiliz (CHZ): 31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October. Dent (DENT): 31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!” IceChain (ICHX): 31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October. Chiliz (CHZ): 31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks. Horizen (ZEN): 31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. PCHAIN (PI): 31 October 2019 (or earlier) New Website No additional information. IOST (IOST): 31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.”

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

Yesterday, there was a downside extension in bitcoin below the $8,000 support area against the US Dollar. BTC price traded to a new monthly low at $7,915 and settled below the 100 hourly simple moving average. Recently, there was an upside correction above the $8,000 level. Moreover, the price recovered above the $8,020 level, plus the 23.6% Fib retracement level of the last decline from the $8,386 high to $7,915 low.
However, the upward move was capped by the $8,100 and $8,120 resistance levels. Besides, the price failed to test the 50% Fib retracement level of the last decline from the $8,386 high to $7,915 low. As a result, there was a fresh decline below $8,020. The price is now accelerating declines below the $8,000 level. It even broke the last swing low at $7,915 and traded to a new monthly low near $7,850.
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Beijing`s Digital Currency Boosts Fintech Companies Shares In China

Beijing`s Digital Currency Boosts Fintech Companies Shares In China

CSI Indexes And Firms` Stocks Soar As Investors Inject Fresh Capital
China is near the end of the preparation for the launch of their state-owned cryptocurrency, issued by the Peoples Bank of China (PBoC). The deputy director of the bank, Mu Changchun, made an announcements, saying that the financial institution is towards the end of the preparation process, and not far from the release date of the crypto project. According to Mu, the new digital currency may play the role of an alternative to the Yuan. Mu also noted that the new coin might serve as a payment method in some of Asia’s most prominent online companies, such as WeChat and Alipay.
Despite the volatility in the crypto sector, indexes and stocks recorded sky-high figures. Fintech company shares rose with over 50 percent in 2019 alone. Companies like Security Technology Inc. and Beijing Certificate Authority experienced substantial increases in their shares price. Security Technology Inc’s price jumped over 50% in 2019, while Beijing Certificate Authority saw price peaks of over 200% since the start of 2019.
And although PBoC has no definite release date, investors from all around the world rush into buying shares from fintech companies. PBoC’s governor, YI Gang, stated that the bank would continue its functions, despite the release of the digital currency.
“PBoC will most probably continue to operate in the traditional banking in the exact same way that most of the commercial banks do. Mobile phone will carry most of the digital currency payload as means of storing cryptocurrencies”, said Gang.
Experts in China believe that investments in fintech companies tend to be most significant in the e-wallet companies, IT infrastructure firms, and circulation operations.
While investors’ eyes point towards Asia, the entire crypto sector is in a bearish stance, with Bitcoin losing over $2,000 over the past week. As of press time, the leader in cryptocurrencies trades at $8,052.77. Ethereum’s losses are even higher since ETH’s price tumbled down with 24.03% to hit $165.94
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Daily analysis of cryptocurrencies 20190924(Market index 39 — Fear state)

Daily analysis of cryptocurrencies 20190924(Market index 39 — Fear state)

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Tech Giant Tencent Leads $20M Series A For Blockchain Supply Chain Startup Everledger Everledger, the U.K.-based blockchain supply chain startup, has raised $20 million in Series A. The round was led by Chinese tech giant Tencent, with participation from other investors. Everledger CEO, Leanne Kemp, told The Block that the firm is looking to bring its solutions to China with the new capital.
BOJ Kuroda Urges Global Cooperation In Regulating Facebook’s Libra Haruhiko Kuroda, Governor of Bank of Japan (BOJ) said on Sept 24 that international cooperation was crucial in regulating stable coins such as Facebook’s planned Libra digital currency. “If Libra is introduced, it could have a huge impact on society,” Kuroda told business leaders in Osaka, western Japan, adding that policymakers must thus ensure that they apply the highest level of regulation to such stable coins.
Governor Of PBoC: CBDC Not Necessarily Uses Blockchain Technology, No Timetable Scheduled Yet While China is accelerating the development in digital payments, Governor of the People’s Bank of China (PBoC), YI Gang, clarified that although the research team of the central bank backed digital currency (CBDC) is taking blockchain, digital payments, and a range of frontier technologies into consideration, it is uncertain which one or ones will be used at last. Besides, the central bank has never preset a technical route for the CBDC, nor has it made any decisions on a precise timetable for the launch of the CBDC. YI Gang made the remark today on Sept 24 at the press conference for celebration of the 70th anniversary of the People’s Republic of China. The press conference focused on the latest ideas to foster a healthy, stable, and sustainable economy in the country. He added that the introduction of CBDC won’t change the current issuance or distribution of currencies. “The goal of the CBDC is to replace part of M0 (money in circulation), not M1 or M2,” he said. The Governor addressed that positive progress has been made in digital currency research. Note: M0 is the total of all physical currency including coinage. M1 money supply includes those monies that are very liquid such as cash, checkable (demand) deposits, and traveler’s checks. M2 money supply is less liquid in nature and includes M1 plus savings and time deposits, certificates of deposits, and money market funds.

Encrypted project calendar(September 24, 2019)

ENG/Enigma: Enigma (ENG) ENG main network token snapshot will end on September 24, the original start time is August 26. LINA (LINA): Lina Review will host the Lina network launch event in Ho Chi Minh City, Vietnam on September 24th and release a 10-year operational strategy. Cappasity (CAPP): Cappasity will showcase its digital signage solutions in luxury stores at the Paris Retail Week from September 24th to 26th.

Encrypted project calendar(September 25, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on September 25th at the University of Southern California in Los Angeles on the theme of “Building Your Own IoT.” Quant (QNT): The Quant project will participate in a marketing conference in London from September 25th to 26th, which will focus on data technology.

Encrypted project calendar(September 26, 2019)

ADA/Cardano: The Cardano (ADA) Cardano community will host a party in Washington, DC on September 26.

Encrypted project calendar(September 27, 2019)

BTC/Bitcoin: Cripto Latin Fest will be held in Cordoba, Argentina from September 27th to 29th. Switcheo (SWTH): After a one-year token exchange process, the project team will officially end the SWH→SWTH token exchange process on September 27.

Encrypted project calendar(September 28, 2019)

ADA/Cardano: Cardano (ADA) Cardano (ADA) 2nd Anniversary, Cardinal Foundation, IOHK and EMURGO main members will participate in community celebrations in Plovdiv, Bulgaria on September 28. TOP Network (TOP): The TOP Network team will hold a hackathon in Prague, Czech Republic from September 28th to 29th. Horizen (ZEN): Horizen project BD Rep Vano Narimandize will discuss the current status and development of sidechain technology at the Industry 4.0 Blockchain Summit on September 28.

Encrypted project calendar(September 29, 2019)

GAME/GameCredits: GameCredits (GAME) is expected to perform hard forks on September 29th at block height 2519999

Encrypted project calendar(September 30, 2019)

INS/Insolar: Insolar (INS) will be on September 30th ERD/Elrond: Elrond (ERD) will conduct main network test on September 30th NULS/NULS: The NULS team will plan to beta the ChainBOX in the third quarter. CS/Credits: Credits (CS) will exchange tokens and bug rewards in the third quarter QTUM/Qtum: Quantum Chain (QTUM) is expected to complete lightning network beta in the third quarter XEM/NEM: New World Bank (XEM) will release mobile wallet and computer wallet in the third quarter HC/HyperCash: hypercash (HC) will complete community management agreement in the third quarter

Encrypted project calendar(October 01, 2019)

HT/Huobi Token: The financial base public link jointly created by Firecoin and Nervos is expected to be open source in October. RVN/Ravencoin: Ravencoin (RVN) Ravencoin will perform a hard fork on October 1. ADA/Cardano: Cardano (ADA) plans to hold technical consensus meeting in Amsterdam on October 1st XRC/Bitcoin Rhodium: Bitcoin Rhodium (XRC) will record account balance awards on October 1st PPC/Peercoin: Peercoin (PPC) will perform Peercoin v0.8 (code tang lang) hard fork on October 1st

Encrypted project calendar(October 02, 2019)

BNB/Binance Coin: The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign. CAPP/Cappasity: The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.

Encrypted project calendar(October 03, 2019)

ETC/Ethereum Classic: The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4

Encrypted project calendar(October 05, 2019)

Ontology (ONT): Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network.

Encrypted project calendar(October 06, 2019)

SPND/ Spendcoin: Spendcoin (SPND) will be online on October 6th

Encrypted project calendar(October 07, 2019)

GNO/Gnosis: Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(October 09, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

Encrypted project calendar(October 10, 2019)

INB/Insight Chain: The Insight Chain (INB) INB public blockchain main network will be launched on October 10. VET/Vechain: VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10. CAPP/Cappasity: Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).

Encrypted project calendar(October 11, 2019)

OKB/OKB: OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”

BTC completed the downward break of 9890, the key hint of yesterday’s closing, in yesterday’s trading yesterday, and accelerated the downward trend further at night, and achieved the effective arrival of the first support line 9600, which was suggested in yesterday’s closing. Although the price has come out of a certain rebound performance, the actual rebound strength is limited. The forward market still operates in the disadvantaged areas. However, the rebound in early trading seems to be only the technical rebound correction after the first round of decline touches on the clear support position. It is reasonable that the price rebound correction occurs after the serious oversold of short-term indicators is consistent. Therefore, it is not recommended that the current rebound be interpreted excessively as long as the price remains at 98. Running below 90, the short-term downward target of 9400 mentioned in yesterday’s closure is still worth looking forward to. For BTC, the idea of short-term trading follow-up is further simplified. After the first wave of short-term orders landed smoothly, the short-term can continue to use 9890 and 9600 as benchmarks. The price reversal test of 9890 is again frustrated, or it is confirmed that after falling below 9600, a new round of short-term follow-up can be done to catch up with the target of 9400. When 9400 is in place, as long as there is no extreme situation of instantaneous dive breakdown, it is recommended to make profit settlement in time. This position can be used as a reference for strong support of midline level. There is a greater possibility of forming band stop-fall reversal near this area, and it is worth making key observation after it is in place.
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China Crosses the Renminbi-con—The Ledger

China has crossed the renminbi-con.
The value of China’s currency, the renminbi, has weakened past seven renminbi to one U.S. dollar. If you wished to buy an American dollar with China’s currency, in other words, it would cost you more than seven renminbi. (At press time, it cost 7.05 RMB.)
Why does this matter? For years, official policy in Beijing held the line under seven, keeping the nation’s currency from deteriorating beyond that (somewhat arbitrary) psychological threshold. As of Monday morning, the currency’s value breached the self-imposed limit—something that has not occurred since the global financial turmoil of 2008. The event—a seemingly minor devaluation—signals a major ramp up in the trade conflict between the world’s two superpowers, and it demonstrates how states can turn their currencies toward macroeconomic combat.
Consider how a weaker renminbi might tilt trade to China’s advantage. In such a scenario, a Chinese exporter could cut prices, listed in U.S. dollars, and yet continue to reap the same amount of renminbi in sales as it did pre-discount. So, say you’re a factory in Guangzhou used to pulling in 700 renminbi on $100 worth of electronics; at the present rate, you would bring in 705 renminbi on $100 worth of those same electronics—a slight edge that could help to offset the impact of higher tariffs, which U.S. President Donald Trump has indicated he plans to levy.
If Beijing continues to allow the renminbi to weaken, the strategy will almost certainly come back to bite the Middle Kingdom. Inflation could rise. Consumer spending could drop. Money could take flight overseas. The currencies of neighboring countries could face similar markdowns. Commodities, such as soybeans and oil, could become more expensive to purchase. And paying down debt to foreign lenders could become more expensive. These are all possible negative knock-on effects.
Investors, fearing the worst from such geopolitical brinkmanship, are responding by de-risking. So far, the S&P 500, the Down Jones Industrial Average, and the Nasdaq Composite have all suffered their worst drops of the year.
Like Trump’s proposal to boost tariffs, Beijing’s willingness to indulge the renminbi’s decline represents a weapon in the U.S.-China trade skirmish (which is looking more pessimistic by the day). In a post on Twitter, Trump accused China of currency manipulation, and called it “a major violation which will greatly weaken China over time!” The People’s Bank of China, meanwhile, blamed U.S. policies for the price movement and Yi Gang, the central bank’s governor, asserted that China will “not engage in competitive devaluation.”
All this tumult is, of course, feeding interest in cryptocurrencies, an asset class whose boosters claim to be decoupled, mostly, from the vagaries of nation state strife. To wit: Bitcoin’s price rose as much as 15% on Monday.
The die has been cast, as an old Roman once said.
Robert Hackett | @rhhackett | [email protected]
* More Details Here
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Chinese comments are translated to English: "What Happened At The Satoshi Roundtable"

Inherent flaw...
This saying... If there were no inside trading, I would not believe it. I hope miners could be more responsible, and so that bitcoin is not strangled in the cradle.
Whatever plunged downwards so much would also go up afterwards. How is that related to short-term block reward? Not to mention hash rate reduction has little impact on block mining, and the duration is short. As of today's network and hardware, why can't 2MB be achieved? Although other techs like LN can scale. On-chain scaling is essential, which is irreplaceable.
Those who keep their eyes closed for immediate interests, they will be eliminated sooner or later. No matter how many guns are in their hands.
This (the author) is a true bitcoin practitioner. Shame on those domestic trolls attacking him.
Domestic miners have already taken the short position. So they still are the winners.
Bitcoin price drop due to hash rate reduction has happened once before, when price hit ¥900 (translator's note: Jan 14 2015). But at the same time the number of coins being mined also decreased, which in turn reduced selling pressure. And hash rate regained slowly. So Brian is not familiar with bitcoin mining. This is his flaw.
(Reply to Wu Gang)I agree with CoinBase CEO Brain's views
(Reply to Wu Gang) Why hash rate decrease will lead to reduced mined coins? It is just two weeks adjustment period. Once the difficulty is adjusted, numbers of coins mined will be the same as before.
And obviously you evaded the main points. The point is hash rate drop will cause 4-6 weeks of congestion, which will make people lose faith. Will reduced coins mined make up for it?
Now I prefer to believe that you have some secrete interest behind the scenes. Or if these recent statements by you is really your true judgement and your understanding of technology, I seriously doubt with your leadership, how far can HaoBTC go.
Market position gives those big bitcoin players certain power. In a short period of time, they are movers and shakers. But that's at the cost of the loss of market share. MtGox was so, Core will be, too, miners and mining pools are no exception!
Repost Bitcoin KingOfMoney's comment
(Reply to Bitcoin KingOfMoney) This guy's so full of ambition.
(reply to Zhao LeTian) Even Children three years old are able to understand why those domestic bosses would oppose that (Classic). Only shows dirty secrets hidden behind the curtain.
(reply to FishSpecial) Yes, Coinbase CEO is a political player, trying to completely control Bitcoin. His resorts are very dangerous.
(reply to P2PBUCKS) Show me your proof. Shall I believe what you said just because you said it? I think he's (Brian) got reasonable points.
(reply to P2PBUCKS) You're saying conspiracy theories again.
(reply to Zhao LeTian) Now you do not believe. Wait to see.
(reply to Zhao LeTian) To hinder the process of Bitcoin the debate finding a conclusion, HAOBTC's men are “work extremely hard”. why? why?
(reply to Zhao LeTian's previous commment: I(Zhao) agree with CoinBase CEO Brain's views )
Although I agree that Bitcoin prices will rise. But if reward halved and price did not go up, Bitcoin will not work fine. The threats within the logic and fear are too bad. Bitcoin has its own decentralized POW adjustment method. With previous halving experiences, the Bitcoin ecosystem won't be significantly affected if prices did not rise. Bitcoin has POW self-regulating system, so bitcoin can worth ten thousand USD.
(reply to Wu Gang)
The points I agree with brain is that only under the dictatorship can we have so-called >90% "consensus". Forking is no big deal. It's not a split but an election.
If you can't refute with reason, you just simply launch personal attacks (calling names). Many of our countryman are used to this sort of technique.
Price is going to drop again.
(reply to Song HuanPing) Note its not "again", its "already". OK, You big slick.
How low the price will go so I can buy long?
(reply to Song HuanPing) Song HuanPing: All you should do is Short! Short! Short! So you could be a winner in life [insidious emojo]
Oh, they need no standpoint, they are happy to remain the status quo, and do not want to see BTC rise. Otherwise, it will cause runs on banks and lead to bankruptcy. (*HaoBTC providing bank service for bitcoin)
(reply to Zhao LeTian) All right.
(reply to Zhao LeTian)
Bitcoin is a scientific system, rather than a political network. How to protect Bitcoin network security, we need a consensus system. Elections are only politicians' ways to seize control of the Bitcoin. With less than 90% agree, hash rate will split, it will allow the existence of two kinds of bitcoin for a period of time. That two types of coin in offchain wallets can be withdrawn. That will risk the entire community of being attacked. Scientific systems can be tested to confirm the feasibility through experiments.
(reply to Wu Gang)
On the contrary, where there are people, there are politics. Politics is everywhere. You can suspect other people's point of view, but you should not suspect other people's motives. So getting used to produce conspiracy theories.
repost the above Zhao's weibo.
(reply to Zhao LeTian)
You are pointing at the wrong guy. Ha ha, politics is not bad, but what I mean is that bitcoin is a scientific system, not a political one. Scientific systems should deal with things in accordance with scientific and systematic ways. In fact, I suddenly found that, in fact, the fundamental difference here is to define if Bitcoin is a scientific system or a political one. Bitcoin is scientific systems to bring freedom to people.
I only believe data, no others.
(reply to Wu Gang)
And even in science, there is no absolutely correct theories. We always have parallel(relative) theories. And the evolution of the old and new theories and systems. The fact that being intolerant of different opinions is the biggest joke.
StarryNight (HaoBTC Wu Gang) mostly stand in the perspective of his own bank. The fear for forking is worst for those coin counterfeiting exchanges, and the presidents of bitcoin banks! So ~~~
Flow with the trend. No one can stop it. Reverse the trends of bitcoin, cis and live, Nizhe death. Its your own choice to make!
(reply to Zhao LeTian)
There have always been differences. There are also differences in science. But ultimately only one of many will be proved to be correct science.
¥900 followed with a rebound is because the market bottomed out. A slight drop of hash rate leaded to longer block generation, and a slight reduction of newly mined coins. It is almost negligible to price.
You did not fully grasp what he was saying. Is any congestion in previous halvings? What was the trading volume when last halving took place?
(reply to Wu Gang) Bitcoin is a currency system, it has millions of users with a market cap of billions of dollars. It is no longer an early stage scientific experiment. Bitcoin is not the core's private plaything. Core has no power to decide how bitcoin's future should be like, and what route to go. Recently our party stated with their scientific proof that our living areas are better without the walls, and should be open to the roads and streets. Do you support that too?
(reply to Song HuanPing) You've said its gonna drop last time when ¥1700
Dont mess with me. It is dropping all the time.
(reply to Wu Gang)
But the core cannot prove the "science" they believes in to be the only correct one. When you can't prove it, and meanwhile force your will on bitcoin and users. This behaviour is no different from Hitler's genocide on the basis of "scientific" racial theory .
I highly endorse Coinbase CEO's views
To Wu Gang, for the company's immediate interests, and go against 2MB plan. The eyes of some are really short-sighted! DOS operating system can not go far with only 640KB of memory. The same truth holds that Bitcoin cannot always be limited to 1MB blocks! Nor should we deem Bitcoin programming sacred, like other people can not develop it. Competing teams are going to show up.
(reply to HappyFlyLong)
Please discuss only which views are correct or not. Trying to attack others with guessing their motives is what idiots would do ...
I always believed P2PBUCKS, and thank you for the reminders. But it is recommended to tell with reason.
Can't agree more.
A grand waterfall is coming
Forking is not allowed? Should it be better if Satoshi decided to go closed-source?
(reply to KillBtc's comment: To hinder the process of Bitcoin the debate finding a conclusion, HAOBTC's men are “work extremely hard”. why? why?)
Toxic Tumour of the coin industry.
haobtc... Beyond redemption
[Conspiracy] Coinbase CEO just want to control BTC with the help of LTC's creator? To break other's monopoly with your own. This is power struggle, we people have seen much more like this. We are also very good at it.
Edit: typo and grammar
BTC: 1JpazvbnCqFzhLvaVncoCkbWXNoWbgeS6Q
submitted by nextblast to btc [link] [comments]

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