2 August 2018

On This Day

Bitcoin price

Closing price: $7535.02 Powered by Coindesk

Headlines

Bitcoin Bulls Defend $7,450 But Need Progress Soon
Bitcoin needs to capitalize on the defense of a key Fibonacci support of $7,450 to avoid further decline towards the $7,000 mark.
Square Sees Profits From Bitcoin Sales Double in Q2
Mobile payments firm Square says it made $37 million in total from bitcoin purchases in Q2, with profits being twice that of the previous quarter. 
Bitcoin: Easy come easy go at UA
Better late than never, I guess. In 2014, @UArkansas received $10k USD worth of bitcoin for a donation directed to @ARMathSciArts. They *insisted* it ...
Bitcoin price LIVE: BTC slumps despite wider UK investor adoption
Previously, users had to exchange their pounds into euros before they could manage their bitcoin account, which would tax them €10 for each ...
'No Reason to Not Allow' the Bitcoin ETF to Go Ahead — Says SEC Commissioner
SEC Commissioner Hester Peirce explained why she is pro-Bitcoin ETF and why the Commission rejected the Winklevoss' Twins latest rule change ...
Easier Access to Healthcare for Everyone

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Report: Use of Bitcoin in Commerce Hit Low in May After Peaking at $411 Mln Last Year
The volume of Bitcoin (BTC) used in commerce has declined significantly over the course of the last year, Bloomberg reports Aug. 1. Citing market ...
Bitcoin Exchange Sponsoring Premier Soccer Club
English Premier League soccer club Wolverhampton Wanderers (Wolves) are playing their season with a first-of-its-kind left sleeve: cryptocurrency ...
Bitcoin Price Won’t Hit a New High [This Year]: Trader

It’s possible that the bitcoin price has found a bottom, but that doesn’t necessarily mean that it’s headed for a new all-time high before the end of the year. That’s according to Tuur Demeester, an economist and bitcoin trader, who argues in a new report that the market needs more time to absorb the historic

World's First Bitcoin Mining TV Launched by Canaan
Canaan creative have launched what they claim is the world's first bitcoin mining television set, the 'AvalonMiner Inside'. The world's second largest ...
StatX Takes on Telegram with Unique Mobile App for the Crypto and Blockchain Ecosystem. Decred, Zcoin and Other Top Companies Already Onboard

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A New Bitcoin Mining Calculator Aims to Tell 'Truth' on Profitability
"We joke about it being bitcoin's 'unprofitability' calculator." That's how CEO of RandomCrypto, Josh Metnick, described his newly released tool that ...
Dash Partners with Trivecoin to Usher in New Breed of dApps

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Crypto Pioneer: Bitcoin is 'Gold 2.0'
By Jacqueline Corba. Bitcoin dropped back below $8,000 this week, prompting the cryptocurrency's defenders to explain the seemingly rapid ...
BTC Trades Sideways, Other Top 20 Coins See More Notable Losses
Thursday, August 2: Bitcoin (BTC) and Ethereum (ETH) are trading around yesterday's levels, while other top 20 coins are seeing notable losses, ...
Bitcoin Price is Set for Another Breakout, Says 'Wall Street's Crypto King'
For the third day in a row, Bitcoin continues to trade below the $8,000 mark that it has gained in July 2018. A flurry of events beginning with the ...
McAfee’s ‘Unhackable’ Bitcoin Wallet Allegedly Hacked

John McAfee’s Bitfi bitcoin wallet has allegedly been hacked after its creator issued a $250,000 hacking challenge. Bitfi, which has marketed the wallet as “unhackable,” alongside promoter John McAfee has not yet responded to a post from security research group OverSoftNL, where it claimed to have obtained root access. Accusations and Speculation The tweet at

Bitcoin Staves Off Drop Under $7500, Investors Remain Bullish
Bitcoin saw a breathtaking run-up over the past few weeks, with the price of the asset rebounding off lows at $5,800 to a yearly high of $8,500 last ...
Arizona Bitcoin Trader Gets Jail Sentence for Money Laundering
A former bitcoin trader from Arizona has been sentenced to 41 months in jail for laundering drugs money with crypto.
UBS: Bitcoin Is Too "Unstable and Limited" to Function as Money
Investment bank UBS thinks bitcoin is neither money nor a viable asset class - not yet at least. The Switzerland-based company's assessment was ...
Public Chain ASCH Receives $7.5 Million USD Investment from Bitmain

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“Crypto King”: The Winklevoss ETF Rejection Wasn’t Bad For Bitcoin

While yesterday’s pullback of Bitcoin’s price may have irked more than a few investors, many industry leaders remain bullish on the price of crypto assets, including Wall Street’s “Crypto King.” Bitcoin Holding At $6,800 and $7,500 Is A Bullish Sign Bart Smith, Susquehanna’s head of digital assets, recently revealed that he doesn’t see the Winklevoss...

The New Dawn of Entertainment with iLink2Music

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Research shows not a lot of people are spending their bitcoin
The fever around bitcoin and other cryptocurrencies has died down somewhat since the heady highs of late 2017. Now, research carried out by ...
Bitcoin Mining Giant, Canaan, Debuts World's First Bitcoin Mining Television
Having a television that can double up as a mining rig seems like something out of a sci-fi flick. But Bitcoin Mining Giant, Canaan, has pulled this off ...
Bitcoin, Coke and Other Major Breakouts on the Road to Adoption

History is full of revolutionary ideas, products and services that were slow to spark and take off. Here’s a look at some of the biggest successes that took the long road to adoption and success – despite skepticism, challenges and detractors. Coca-Cola Coke was produced as a medicinal syrup in 1886, courtesy of Dr. John Stith […]

Optitoken Opens with a Bang, Briefly Sits Near-$500 Million Marketcap

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Square makes tiny profit on bitcoin and says it won't be a money 'engine' anytime soon
Square generated $37 million in revenue on bitcoin in the second quarter, but it spent almost as much to offer free trading of the volatile cryptocurrency ...
Arizona Bitcoin Trader Sentenced to 41 Months in Prison for Money Laundering

An Arizona man with a particularly lengthy rap sheet that includes guns, ammo and drugs has been sentenced to prison for laundering drug money with bitcoin. Announced on Wednesday by a U.S. Attorney’s Office in Arizona, 54-year-old Thomas Costanzo, aka Morpheous Titania, has seen a sentence of 41 months in prison for charges related to

Bitcoin price news: King of Crypto says THIS has to happen for new Bitcoin breakthrough
Traders fear that bitcoin may be destined to stagnate between the $6,000 - $7,000 range after the Securities and Exchange Commission (SEC) ...
Google Trends Shows Interest In Bitcoin
If you are a bitcoin Bull you are waiting for the crash to play itself out and for the next boom cycle to begin. Without question, bitcoin and cryptocurrency ...
Bitcoin Vs. Gold Revisited
A bad year for gold. A worse year for Bitcoin. Two means of exchange with different target audiences. When will central banks go digital?
Bitcoin (BTC) Price Watch: Bulls Defending Correction Level
For now, bitcoin price appears to be finding support at the 38.2% Fib but has yet to show more bullish traction on the bounce. A larger pullback may be ...
Sony Patent Filings Hint at Work on Crypto Mining Hardware
Japanese technology giant Sony wants to patent two approaches to hosting and maintaining blockchains, newly published documents show.
Bitcoin Price Preparing for a Breakout [But Must Hold Above $6,800]: Wall Street Trader

One of Wall Street’s biggest crypto bulls said that the bitcoin price could be primed for a breakout, as long as it continues to hold near its present level at $7,500. Bart Smith, head of digital asset at Pennsylvania-based trading firm Susquehanna International Group, provided this analysis during an interview with CNBC, explaining that he

Crypto Bank Galaxy Digital Takes Massive Hit in Stock Market Debut

If you look hard enough, you can find a silver lining, but there’s no denying that billionaire Mike Novogratz has had a difficult week. Crypto Merchant Bank Has Rocky Debut Days after revealing that Galaxy Digital, his cryptocurrency merchant bank, posted a $134 million loss during Q1, the firm took a massive hit in its

Square Sees Bitcoin Sales Profits Double in Q2
Mobile payment firm Square said it has made $37 million in revenue in the second quarter from its offering of bitcoin sales. The company released an ...
Factom Files Patent for Validating Documents on the Blockchain

Factom (FCT) has filed a new patent today with the U.S. Patent & Trademark Office that allows verification of documents on a blockchain with multiple digital signatures The patent comes during a frenzy of blockchain patent applications from other incumbents, including IBM, Mastercard, and Walmart. Auditing Digital Documents with Multi-Signatures The patent claims the concept:

Bitcoin Price Intraday Analysis: BTCUSD Stabilizes Near Crucial Support Level

Just close to a week of bearish action, the Bitcoin market is taking a break near a crucial support level. So far, we have seen the BTC/USD establishing its latest high at 8512-fiat, upon which the pair has undergone strong bearish correction action. We had found a weak support at 7814-fiat, but it was invalidated

Current Bitcoin Price is 'Just a Normal Correction,' Claims Brian Kelly
Having plunged roughly 7 percent throughout the week, Bitcoin (BTC) $7574.88 +0.41% is experiencing a “minor correction,” according to permabull ...
Bitcoin Price Watch: BTC/USD Rebounding Towards $7850 Barrier
Bitcoin price is rebounding from the $7,426 low against the US Dollar. BTC/USD is likely to correct further higher towards the $7,850 resistance in the ...
Crypto Bulls Pile Into ICOs at Record Pace Despite Bitcoin Rout
This year's selloff in virtual currencies has done little to dent investor enthusiasm for initial coin offerings, which attracted a record $12 billion in the first ...
Canaan Creative Launch World's First TV with Bitcoin Mining Capabilities
The second largest manufacturer of Bitcoin mining hardware has announced a new product aiming to bring Bitcoin mining to people's homes once ...
Institutions Need To Start 'Dancing' With Bitcoin, Says Susquehanna Exec
Financial institutions are “looking on the dancefloor” with Bitcoin, “but nobody's dancing” – that's according to Susquehanna head of digital assets Bart ...
Square's Bitcoin Integration Turns $37 Million Revenue in Q2 2018
Twitter CEO Jack Dorsey's payments service Square generated over $70 mln in Bitcoin revenues in the first half of 2018, the company revealed in a ...
Bitcoin is still too 'unstable' to become mainstream money, UBS says
"Bitcoin is still too unstable and limited to become a viable means of payment or a mainstream asset class," UBS strategist Joni Teves wrote in a note ...
Bitcoin holds steady at $7500; Coinbase makes inroads into UK market
While bitcoin “might not have reached its 200-day moving average on the topside, cryptocurrency markets do fluctuate more than traditional ones,” ...
Korea's Financial Regulator Wants to Use the Blockchain for Stock Trading
South Korea's Financial Supervisory Service has encouraged public and private sector companies to develop a blockchain-based stock trading system.
BTC/BCH Payment Service Bitpay See Increased Usage Processing $1.2 billion USD
Bitpay's chief operating officer, Sonny Singh, recently attested to the efficacy of bitcoin as a means of payment, stating that “bitcoin is being used all ...
Handshake Revealed: VCs Back Plan to Give Away $100 Million in Crypto
Handshake plans to replace the digital entities that authenticate web payments, in the process rewarding those who built the web's infrastructure.
The Bitcoin Cash Network Processed 687000 Transactions on August 1st
Over the last day, BCH proponents have been celebrating the 'Bitcoin Cash Independence Day' which marks the anniversary of the August 1 ...
No Coins for You! North Carolina Rejects Bitcoin Campaign Donations
North Carolina has barred electoral candidates in the state from accepting campaign donations made in bitcoin and other cryptocurrencies.
Increasing Number of Nations Are Competing to Be the Most Bitcoin-Friendly
Several countries are racing to become the world capital of cryptocurrency technologies. Bermuda, Gibraltar, and Malta are now competing with ...
Coinbase Makes It Possible for Users to Buy Crypto Assets with Pound Sterling

Coinbase have announced additional support for customers using pound sterling in conjunction with their services. The leading digital asset brokerage stated that the improved functionality will allow U.K. customers to transact with greater efficiency when using their native currency. Coinbase Speeds Up UK Banking Services Popular digital currency brokerage platform Coinbase has announced improved banking...

NFLPA Acquires Minority Stake in SportsCastr to Power Live Interactive Video Content for Fans

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Square's Profits from Bitcoin Double in Q2 2018
The unaudited consolidated statements of operations, released in a letter to investors, show that the bitcoin revenue of Square for the three months ...
Payment Platform Square Sees $37 Million in Revenue From Bitcoin Integration
Bitcoin (BTC)–Despite the growing perception that cryptocurrency offers little value to digital payment platforms, Square has published figures that ...
Canaan launches world's first bitcoin mining TV set
Canaan launches world's first bitcoin mining TV set ... Would you buy a 43-inch television that can double up as a bitcoin mining rig? Canaan Creative ...
Before the 'Bomb' Hits: Why the Race Is on to Alter Ethereum's Economics
At least six proposals have been recently put forth, all of which could change the economics of the ethereum blockchain if enacted.
Bitcoin (BTC) Price Analysis: Are Bulls Ready to Charge Again?
Bitcoin has pulled back on its climb over the past couple of days, but seems ready to resume the climb from here. Applying the Fibonacci extension ...
Philippines' Proposed ICO Rules Presume All Tokens Are Securities
The Philippines is close to introducing new regulations governing how companies can legally raise funds through initial coin offerings.
Financial Giant UBS Says Bitcoin (BTC) Could Replace US Dollar

Swiss banking giant UBS says Bitcoin has a legitimate shot at replacing fiat currency. In a new 34-page report, the firm says the leading cryptocurrency is a contender for replacing the US dollar if its price or its network capacity reaches a certain level. According to Bloomberg, the report states that in order for “Bitcoin […]

Bitcoin SIM card scam 'new way to commit old crime'
West is leading the case against Joel Ortiz, 20, of Boston, who is accused of stealing roughly $2 million in Bitcoin and other cryptocurrency. According ...
'Keep NEO One!' Investors Protest a Proposal to Make Crypto Coins Divisible
Neo 3.0 is coming, potentially bringing big changes to the protocol's economic model. But investors aren't happy.
If bitcoin doesn't hold this key level, a 'collapse' could be imminent: Technician
Bitcoin investors may need to brace themselves for an even bigger drop in the cryptocurrency. In the last week, bitcoin has fallen about 9 percent and ...
Germany's No.2 Stock Exchange Is Developing an ICO Platform
Boerse Stuttgart Group is developing a suite of crypto services including an ICO platform.
Tron (TRX) Erases Upside Rally despite TVM Launch Hype

At the beginning of this week, Justin Sun’s TRON was probably the only top cryptocurrency that recorded massive gains, in contrast to the rest of the bearish market. Strong fundamentals, including the Tron’s recent acquisition of BitTorrent and uTorrent, the launch of their Tron Virtual Machine (TVM), and a secret project (announced later as Project Atlas),

$37 Million of Bitcoin Revenue Helps Square Accelerate Growth in Q2
Square has reported its Q2 2018 financial results, revealing that $37 million of Bitcoin-related revenue helped the company accelerate its growth ...
Tickets Now On Sale for San Francisco's First 'Blockchain Music Festival'
Tickets for the first music festival, set to be powered by blockchain technology this October, are going on sale Thursday.
Bitcoin Needs to Hit $213000 to Replace Money Supply, UBS Says
UBS says they may have to wait a while since it can't be considered money or even a viable asset class yet. For Bitcoin to replace U.S. money supply ...
Basically, no one is using bitcoin to buy things
If you're one of the many people who have bought bitcoin, it's quite unlikely that you've actually used it to buy things. The digital currency, which many ...
SEC Subpoenas Another Firm Following Claimed Blockchain Pivot
Long Blockchain, which made headlines last year when its stock surged following a blockchain pivot, has been subpoenaed by the SEC in the U.S.
Decentralized Payment Network Logos Raises $3 Million in Seed Funding
Decentralized payments platform Logos Network has successfully raised $3 million in seed funding, the startup announced Thursday.
Here are the key levels Bitcoin needs to hold: Technician
Robert Sluymer of Fundstrat says it's the moment of truth for Bitcoin. He tells CNBC's Jackie DeAngelis what levels he's watching. Watch CNBC Live ...
Use of Bitcoin for Payments Declines Despite Its Bigger Stability - Report
The use of Bitcoin as a means of payments is declining, according to a report by Chainalysis which found that the coin is not suitable for ...

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