Venezuela Becomes ‘Dollarized’ as Citizens Seek Refuge in Alternative Solutions

Venezuela has been suffering from rapid inflation as the purchasing power of the sovereign bolivar has become near worthless. Over the last few weeks, Venezuelans have been dealing with blackouts throughout major cities, making credit card readers useless. Additionally, citizens are dependent on remittances from overseas and last month the country became ‘dollarized’ as more than 54% of all sales in the country were processed in U.S. dollars. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain Sales in Venezuela Have Been Dollarized For years now the…

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Universal Protocol Alliance to List Mega-Utility Token on Bitcoin.com Exchange

In addition to listing the Universal Protocol Alliance’s mega-utility token, Bitcoin.com Exchange will also list the group’s stablecoins, as well as support interoperability between the Ethereum protocol and the Simple Ledger protocol. Also Read: Cred Merchant Solutions to Help Unbanked Business Sectors Bitcoin.com Exchange to List Mega-Utility Token It was announced today that Bitcoin.com Exchange will provide an initial exchange listing to support an interoperable mega-utility token backed by the Universal Protocol Alliance, the Universal Protocol Token (UPT). The new token is expected to be on listed Nov. 20, 2019,…

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How Society Thrived Before Mass Taxation, and How It Still Can

Many people in the U.S. and elsewhere think of the income tax as some kind of timeless staple of society. The truth is, it was only first instituted in the United States as a permanent fixture in 1913. It stands to ask then, how all the progress that was made prior and the bustling growth of metropolises like New York City, were even possible. In the current climate of highly confusing tax regulations where the opportunity-laden world of crypto is concerned, it stands to ask once again if there is…

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Jailed Deepdotweb Admin Denies Earning $15M From Darknet Links

In an interview from prison, one of Deepdotweb’s operators has disputed the $15 million allegedly made from “illegal” referral links, claiming “There was no such amount.” Currently on remand in France, Israeli citizen Tal Prihar stands accused of directing visitors towards darknet markets (DNMs) in his role as Deepdotweb administrator. The popular site published articles about darknet drug busts, new onion services and other stories related to online marketplaces. The 38-year-old believes he is the victim of a U.S. witch hunt. Also read: 6 Darknet Markets for the Crypto Curious…

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6 Months Before Halving Signs Indicate Bitcoin Miners Are Hoarding

The great bitcoin reward halvings are coming and many newcomers have not experienced a halving event unless they joined the crypto community prior to 2016. A few speculators believe bitcoin miners and whales are hoarding coins right now until after the adjustment so prices will be driven up. Moreover, for the first time, crypto proponents will observe how both BTC and BCH deal with the reward reduction as both networks are mined by some of the same pools. Also read: Generation QE: How Central Banks Create Money From Thin Air…

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From FUD to FOMO – China State Newspaper Says Bitcoin Is ‘Successful’

A major Chinese daily has published an article about Bitcoin. The publication describes the first cryptocurrency as a successful application of the blockchain technology. It provides its readers with the basics they need to know about Bitcoin and highlights some of its main characteristics. Also read: Crypto Banks Gain Regulatory Recognition Across the Globe Xinhua Daily: Bitcoin Is One of the Hottest Topics If there’s one thing that distinguishes democracies from other government regimes, at least at first glance, it’s the speed with which the executive power can bring its…

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Generation QE: How Central Banks Create Money From Thin Air

This year the public has seen a lot of the expansive monetary policy taking place with 37 central banks participating in monetary easing. Unfortunately, most people don’t understand the methods central banks like the Federal Reserve use to increase the money supply and never take the time to understand the process. The following is an in-depth look at how the Federal Reserve or any central bank “prints money” by adding credit to banks’ deposits, lowering the fed funds rate target, and using large-scale open market operations to purchase securities and…

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Crypto Jobs on the Rise, Thousands Listed

The number of job vacancies in the crypto industry is growing but fewer people are searching for them, according to a major U.S. job listing website. Thousands of jobs relating to Bitcoin, cryptocurrency, and blockchain technology are currently available as new employers seek to enter the space and existing players expand operations. Also read: China Now Censors Anti-Blockchain Sentiment, Educates Public on Bitcoin More Jobs, Fewer Searches Jobs in the field of cryptocurrency and blockchain technology are on the rise, according to Indeed, a leading job listing platform and search…

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Crypto Banks Gain Regulatory Recognition Across the Globe

Traditional financial institutions are still leery about decentralized cryptocurrencies. They are only starting to explore the potential of digital assets. But a new breed of banks specializing in crypto have been working hard to take advantage of this trend and are gaining regulatory recognition around the world. Also read: How to Start With Bitcoin at No Cost Swiss Crypto Banks Are Going Global Switzerland has established itself as a leading crypto-friendly nation and several hundred companies from the industry are currently operating out of the crypto valley centered in the…

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When Bitcoin Overtakes Gold – How High Can It Go?

Flashy bitcoin price speculation is a favorite game of crypto Twitter news outlets and commentators all over. After all, who doesn’t want to hear that their modest stash of satoshis could someday moon and be worth millions? Sensation aside, there remains a well-grounded case for continued rise in price where top cryptos are concerned, and should bitcoin’s market cap overtake that of gold — an asset limited in many ways compared to crypto — prices could indeed be out of this world. Also Read: For Initial Exchange Offerings, Liquidity is…

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