Mayor Francis Suarez wants to turn Miami into Bitcoin territory

Miami might turn out to be the subsequent “Silicon Valley” for cryptocurrency corporations, as the town’s mayor plans. Francis Suárez, who has served within the place since 2017, has met with a number of key figures within the Bitcoin ecosystem in the USA, together with the Winklevoss brothers.

Tyler and Cameron Winklevoss, founders of New York change Gemini, had an interview with the mayor this week to focus on the way forward for the cryptocurrency market in Miami. A recording of the assembly was posted on Francis Suárez’s official twitter, the place the mayor prompt the chance for each entrepreneurs to arrange a Gemini most important workplace for Latin American shoppers.

The proposal could be linked by the current favorable narrative for cryptocurrencies that the Suárez authorities has fostered in Miami. The mayor acknowledged by the top of 2020 that he’s contemplating investing 1% of the town’s treasury in bitcoin. He additionally described the cryptocurrency as one of many “most secure” investments of the previous yr, as reported by CriptoNoticias.

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How businesses can use bitcoin

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By crossing the $ 40,000 threshold, bitcoin has doubled its all-time high of 2018. Will this unexpected rise change the feelings of business leaders? “The current increase is the result of the arrival of hedge funds”, explains Paul Desprairies, head of the blockchain lab of the Finnegan group. And these are arriving en masse in the United States due to a relaxation of banking regulations vis-à-vis cryptocurrencies. The OCC (office of the comptroller of the currency) has just released a note that clarifies what US banks are now allowed to do. “This opens up immense prospects, continues Paul Desprairies, American banks will be able to offer cryptocurrency services equivalent to what can be done with conventional currencies, with the added benefits of being completely digital.”

Scenting for a good deal, hedge funds anticipated legislative easing and rushed into bitcoin. “Their presence could stabilize prices, believes Paul Desprairies because they have the means to buy back when the price drops.” This theoretical possibility, however, did not prevent bitcoin from losing 6,000 do.

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155,000 American Merchants to Accept DASH as Payment

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The Dash Investment Fund (DIF), owned by the Dash network, has recently invested in CrayPay, a mobile payment platform that allows its users to instantly send and receive savings from over 150,000 locations and 75 national retail sites.

DASH (Digital Cash) announced the news on Tuesday which aims to increase adoption among its users. In coordination with this investment, Dash Core Group will be creating a new version of CrayPay’s saving platform to be utilized by DASH users.

A Broader Outreach

This collaboration means that users can spend and receive DASH back as savings from a plethora of American retail and online merchants. It will also give CrayPay users the opportunity to get exposure to the crypto if they choose to do so in the future.

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Here’s Why Bit Digital Stock Crashed and Then Skyrocketed Today

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What happened

Shares of bitcoin-miner Bit Digital crashed in early trading this morning because a research firm is claiming the company is a fraud. At one point, the company's stock was down 17%. But then around noon EST, Bit Digital stock began skyrocketing. I'm not sure what sparked the rally, but as of 1:15 p.m. EST, Bit Digital stock was up 11%.

So what

Yesterday, J Capital Research said it "may be" short Bit Digital stock because it believes the company is a fraud. To summarize, J Capital says Bit Digital isn't mining bitcoin, it has defrauded Chinese investors, and its management is either in jail or running from the law. Needless to say, those are gargantuan allegations and a big problem for investors, if true.

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Bitcoin Hovers Around $34.2K While Options Traders Pay Up for Possible ETH Upside

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After a record day in spot volume, bitcoin’s price went up, down and back up. Meanwhile, most ether options traders are bearish, some are paying up in case it gets close to record highs.

Bitcoin’s price had an up-and-down day, going as high as $36,605 at around 08:00 UTC (3 a.m. ET), falling to $32,528 at around 14:30 UTC (9 a.m. ET) and then going back up to $34,278 as of press time. 

Andrew Tu, an executive for quant trading firm Efficient Frontier, sees the $36,000 price level as “resistance,” an area where bearish traders seem primed to hit the sell button on bitcoin. “Right now bulls are challenging the $36,000 resistance. It failed to get past $36,600 earlier during the afternoon Asia hours,” Tu told CoinDesk. “When the U.S. East Coast woke up, the market started bidding the price upwards again.”

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XRP Investors Take Legal Action After Ripple Charges

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For almost all conventional cryptocurrencies available on the market, 2020 was a great year. For most, 2021 looks very promising, but this is not the case with XRP.

The Securities and Exchange Commission (SEC) has officially accused Ripple Labs and two of its executives of selling more than $1 billion in unregistered securities. Now, former investors are suing the SEC. It appears that XRP holders do not approve of the token being labeled as a security by the SEC. As such, they are taking the government to court because of the damages they declare XRP a security cause them.

What does the petition involve?

XRP investors who filed this petition claim that the SEC is not doing its best to protect U.S. investors. These investors argue in the first point that declaring XRP a security is actually a disservice to the interests of investors. This result is the

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Global Database Crypto Market Research Report

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The increase in card payments that support multiple online transactions can drive the expansion of the global online payment gateway market during the trial period. The increase in digital installations can lead to the expansion of the online payment gateway market worldwide. The increased practice of cashless transactions and the emergence of payments from smaller denominations could lead to the expansion of the global payment gateway market in the coming years.

Market Research Future (MRFR) has announced a new launch in the global online payment gateway market. The report analyses all aspects of the global online payment gateway market in order to provide a comprehensive overview of market growth prospects during the 2018-2023 forecast period. According to the report, the global online payment gateway market is expected to grow at a strong CAGR of 12.8% during the 2018-2023 forecast period.

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Bitcoin sinks, brakes sharply in New Year’s rally

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Bitcoin fell sharply on Monday, losing ground to a record high of $34,800 touched the day before, with traders citing volatility in highly leveraged futures markets.

Bitcoin fell more than 14% after reaching $33,670, eliminating more than half of its 20% high on New Year's Eve to a record $34,800 on Sunday.

A functional cryptocurrency derivatives market has developed since 2017, with offshore exchanges still offering highly leveraged trading. Movements in such markets can have a disproportionate effect on the price of bitcoin.

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Bitcoin Looks to Gain Traction in Payments

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Vegas Auto Gallery, a luxury car dealership in Las Vegas, has become a playground for bitcoin-rich investors looking to make money.

The dealership recently sold two high-end sports cars - a Pagani Huayra Roadster 2017 and a Bugatti Chiron 2019 - to a customer who paid more than $ 6 million in bitcoin, according to owner Nick Dossa, who says about 3 % to 5% of the dealership's revenues come from bitcoin transactions.

Bitcoin prices more than tripled in 2020 and are around $ 26,600, making millionaires out of accumulators from investors who have piled up to build the popular market. Professional investors like Stanley Druckenmiller and companies like Massachusetts Mutual Life Insurance Co. started investing this year. Companies like Robinhood Markets Inc. and PayPal Holdings Inc. have allowed their customers to buy and sell bitcoin.

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After recent price spike, the energy to produce bitcoin could power a country of more than 200 million people

As bitcoin advances to new records, it is also devouring the energy of a country with more than 200 million people.

The Center for Alternative Finance at the University of Cambridge tries to track energy consumption with bitcoin. While the exact consumption can never be known, a hunch can be produced by tracking the total number of hashes produced by the miners and looking at the efficiency of bitcoin mining equipment. The hash rate is the unit of measurement of the bitcoin network's processing power.

The recent price hike - bitcoin BTCUSD, 0.84% rose 276% this year, trading around $27,000 on Tuesday - made using less efficient equipment more profitable.

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