Report: Canaan Will Be Listed Publicly in the US in November

This article was originally published by 8btc and written by Lylian Teng. Canaan Creative, one of the world’s largest bitcoin mining machine manufacturers, will be listed as a publicly traded company in the U.S. in November 2019, according to a source with knowledge of the matter. According to the source, the Avalon miner producer, which has a valuation of $1.5 billion, is issuing 126 million shares in its company, which will be closed on October 20, 2019. 8btc reached out to Canaan but the company refused to comment. In July…

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Bayern Munich Partners with Stryking for Blockchain-Based Collectibles

Bayern Munich, Germany’s most successful football club, has partnered with the blockchain-oriented venture of fan engagement firm, Stryking Entertainment. Blockchain-Based Collectibles on Bayern Players According to the agreement, Stryking, which is itself a subsidiary of Hong Kong-based Animoca Brands – a mobile games developer, will issue and distribute digital collectibles based on Bayern players. Thus, the German football club will become part of a global platform for blockchain collectibles. Stryking has created a fantasy sports challenge aimed at its “Football-Stars” game. The latter provides gameplay for the blockchain-based collectibles. It…

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With Only 12,000 Bitcoin Millionaires, What is The Potential to Be One?

Bitcoin is many things to many different people. For some it is a store of wealth, for others it is a hedge against local economic oppression, but for many it is a vehicle to make money. With only 12,000 Bitcoin millionaires in the world it still shows great potential and opportunities to join that elite crowd are still abound. Early Days For Bitcoin Considering that BTC is only ten years old it has come a long way. Outperforming pretty much every other traditional asset class by a significant margin, Bitcoin…

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Cryptocurrency Wallets MyCrypto and Ambo Add Multiple New Features

Cryptocurrency wallets MyCrypto and Ambo (recently acquired by the former) have both announced major updates of their software. Among other improvements, MyCrypto added a multi-account management system. A major overhaul According to a press release shared with Cointelegraph on Oct. 10, MyCrypto’s software has seen a major overhaul with a new user interface and a new homepage, dashboard, screen lock, an updated address book and outgoing transaction procedure. That being said, all those new features are so far included only in the beta (early access) version of the wallet and…

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10 Celebrities Who Are Totally Into Bitcoin

Bitcoin used to be synonymous with drugs but now, celebrities of all stripes are turning on to what used to be the obscure money of choice for the internet’s black markets. For instance, what if I told you that a certain Grammy-caliber rapper has accepted bitcoin for an album in 2014? 50 Cent did, and he’s just one example of the prestige Bitcoin enjoys among the movers and shakers who are at the center of Western pop culture. Here are a few examples. Kanye West  Image by Peter Hutchins from…

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Bitcoin Could Find New Buyers If Exchanges Switch To Satoshis

Exchanges offering fiat on-ramps into BTC and other crypto-assets should better woo new buyers with satoshi listings, believes Twitter personality @DrBitcoinMD. If major exchanges/fiat onramps were to switch from $/₿ to $/sats, people would be far less hesitant when considering dipping their toes into Bitcoin. Unit bias is incredibly powerful and we all underestimate how it affects the average retail investor. — Dr. Bitcoin, M.D. (@DrBitcoinMD) October 4, 2019 Fractions and Decimals Put Off Buyers Bitcoin (BTC) has become counterintuitive due to its relatively high price. One BTC is now…

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Bank President Says US Digital Currency Is Inevitable

In a letter to Jerome Powell, two congressmen have asked the Federal Reserve chairman to consider developing a US-backed cryptocurrency. In short, they believe this is necessary to keep pace with the rest of the world. However, Powell has previously poured cold water on the idea of a digital dollar. And he’s not alone in this view, with many arguing that central bank digital currencies (CBDCs) negatively impact a country’s economic landscape by stifling commerce. Concern Over Lack of US Digital Currency In what is becoming a bipartisan issue, French…

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Stablecoins Backed by Precious Metals — How Do They Work?

Cryptocurrencies are constantly subject to exchange rate fluctuations and are characterized by high price volatility. For making crypto money more useful and more stable, a special type was created: stablecoins. Related: Stablecoins, Explained Stablecoin is a cryptocurrency whose value is tied to some valuable asset. This asset could be fiat money, precious metals like gold and silver, oil or almost anything that has tangible value. The price of a stable cryptocurrency is formed in direct proportion to the established asset. An ideal stablecoin should perform three main functions: Act as…

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