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Bank Of China Infographic Shows Why Bitcoin Is Going Up

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A new visual is in the latest cryptocurrency news for illustrating the upward trend of Bitcoin. The Bank of China infographic was first released on July 26 by the central bank in the country, illustrating the value of Bitcoin.

The infographic features the entire story of Bitcoin, starting with the publication of its whitepaper in 2008 as well as the mining of the first 50 BTC in 2009, the milestone of 10,000 BTC being spent for pizza in 2010 as well as many other major milestones for the system. It ends with the announcement about Facebook’s Libra.

The Bank of China infographic was featured on many best cryptocurrency news sites. The CSO of Blockstream, Samson Mow, commented on it and said:

“Yesterday the Bank of China posted up an article about Bitcoin. They explained how BTC works, why the price is going up, and why it’s valuable. Never thought I’d see that happen. #Bullish”

Another part of the Bank of China infographic is dedicated to explaining why Bitcoin’s value is going up. It cites the limited supply, increased mining difficulty, BTC being used as a medium of exchange and the anti-inflation safe haven.

All of this goes in line with the remarks made by Morgan Creek Digital Assets co-founder Anthony Pompliano recently. The Bank of China infographic goes in line with his statements in which “Pomp” said that the European Central Bank’s expected dovish turn will provide “rocket fuel” for Bitcoin.

The infographic also mentions the infamous Mt. Gox hack, the risk of speculation and many stories of lost funds. As the image shows, Bitcoin’s main use is international settlements since its fees are low compared to the legacy system while its transactions are faster.

The Bank of China infographic touches on a lot of points which is why it is featured in the Bitcoin and altcoin news. As we recently reported, China was all over the news when the CEO of the Chinese tech giant Huawei said that the country can compete with Facebook for market share – by simply issuing their own cryptocurrency.

Earlier this month, Chinese media reported that the central bank is developing its own digital currency in the country – coming in response to Facebook and the Libra coin.

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Altcoin News

Binance.US Begins Registration Today: 13 States Excluded

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Binance.US which is the United States branch of the major cryptocurrency exchange Binance, has today announced that the opening of accounts registration which is scheduled for Wednesday, will not include the states of New York, Florida and 10 others.
"Launching tomorrow, Binance.US is a fast and secure digital asset marketplace, delivering the world’s leading digital asset trading technology, speed, and experience to everyday users in America," the post said.
According to an official blog post which went viral in the Bitcoin and altcoin news published on September 17, the exchange will start the registration at 8am ET on September 18 in most of the US states. The list will exclude the states of Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington.
“Although it is upsetting that we cannot offer Binance.US in [these] states [...] at this time, please rest assured that this is just the beginning, and it is our mission to bring access to those of you in these states many of us call home,” the post continues.
Once the registration process starts, Binance.US will start accepting inbound transfers for Bitcoin (BTC), Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT) and USD "upon appropriate account verification" as the exchange revealed. According to the announcement, there would be no trading fees until November 1st. A popular question in the coming altcoin news are the trading fees. As Binance.US stated in the post, they are an "independent entity" which means that any of the digital assets held by other trading venues or custody solutions "will not automatically transfer to Binance.US." The fees for personal accounts are 0.10% per trade (flat) which means that if you buy $100 of BTC, the fee will be $0.10. Binance.US also noted that the exchange will be separate from Binance.com since the former is a separate company operated by BAM Trading Services. Currently, US users and their digital assets will also be stored in Binance.US wallets. As many best cryptocurrency news sites reported on September 11, the 24-hour trading volume of major cryptocurrency exchange Binance and its futures markets has exceeded $150 million, all of which was denominated in USDT.
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Bitcoin News

Edward Snowden: Government Lawsuit To Block Book Is ‘Good For BTC’

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The whistleblower known for copying and leaking highly classified information from the National Security Agency (NSA) back in 2013 when he was a CIA employee and subcontractor is in the latest cryptocurrency news. Edward Snowden recently spoke in reference to Bitcoin (BTC) and said that he might place his wealth in the flagship cryptocurrency in order to avoid the United States government confiscating the funds. In a tweet on September 17, Snowden continued his response to the news that Washington is suing him over the content of his new book named "Permanent Record." As he wrote:
“In conclusion this is good for Bitcoin.”
Edward Snowden, who lives in asylum in Russia, continued the debacle about the publication with the US Justice Department (DOJ) complaining that he did not submit a draft of it for approval before publication.
“We will not permit individuals to enrich themselves, at the expense of the United States, without complying with their pre-publication review obligations,” was what Jody Hunt, the Assistant Attorney General of the DOJ’s Civil Division said in an accompanying press release.
Meanwhile, Bitcoin has featured in moves by Snowden at the US government's expense before. As many best cryptocurrency news sites reported in June, it emerged Bitcoin was the medium of choice he used to pay for servers used in a leak of data from the National Security Agency (NSA). Nonetheless, in his previous comments, Edward Snowden revealed doubts about Bitcoin and its suitability as a financial means of avoiding government coercion. As he said in an interview in March 2018:
“The much larger structural flaw, the long-lasting flaw, is its public ledger."
What was absent from Snowden's plans this time was the privacy featured altcoin Zcash (ZEC), known in the coming altcoin news as a cryptocurrency that he previously praised. The Bitcoin supporters were thus more than happy with his publicity.
“Bitcoin is the currency of the people, for the people and by the people,” a popular response from an analyst known as Rhythm followed.
Meanwhile, the news show that Bitcoin has surged again and is nearing the $10,250 margin. The trading volume is good and the total market cap is at $272 billion as we speak.
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Bitcoin News

Deloitte Starts Testing Bitcoin Payments For Its Staff

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Deloitte starts testing how bitcoin payments can play out as a payments option for the employees of the company as per the reports by the Luxembourg Times which we are reading more today about in the altcoin news below. As per the reports, Deloitte has launched a BitPay option for its employees but the BTC payments were available back in2017 in one of the offices in Canada. Months after the test run, the prices of the number one cryptocurrency started going wild and they even broke the records by the end of the year. One of the company’s representatives Laurent Collet stated:
 “We think it’s good to have our employees assess this new technology.’’
Now since the BTC prices have stabilized again to the $10,000 region, the number one cryptocurrency offers a more predictable basis for calculating the price. Bitcoin is now exchanging for $10,221. Paying with your Bitcoins was a good idea in the early days of the network but now the analysts are seeing increased activity related to moving coins in and out from exchanges. Usually, the Bitcoin network will show high transaction loads when the price is rising and when it attempts to sell some coins. there is also some increased tendency for Hodling BTC. Bitcoin is one of the most liquid coins so it is exchangeable for currency as needed and preferred by merchants. One Bitcoin transaction cost is currently at $0.51 unless the priority status is paid for. When the activity is higher, the transactions could cost a few more dollars which is not very suitable for micropayments. Paying with Bitcoin has obviously some major setbacks so now Deloitte starts testing how can they improve the disadvantages. The test of Deloitte will be in-house and on a small scale but globally paying with your Bitcoins is no longer simple. Almost every major exchange has established a KYC procedure and limits the amounts to be paid globally. Deloitte is not a stranger of blockchain and crptocurrencies. The company has been exploring the crypto space for years and the risks of various projects. The company has already formed a blockchain team and opened multiple research centers around the world as we found out in the latest cryptocurrency news.
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Bitcoin News

Bitcoin Will Surge After It Reaches $10,700: Analyst Prediction

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Bitcoin will surge once it reaches the $10,700 price point according to Dan Tapeiro who is the portfolio manager at Pimco and we are about to find out more about his prediction in the coming altcoin news below. The price of the number one cryptocurrency increased on Tuesday as the investors patiently waited for the outcome of the Federal Reserve’s meeting on monetary policy. Bitcoin slipped by $44.70 or about 0.44 percent and reached the price level at $10,217. The downside price action happened on the sidelines of the better-performing alternative cryptocurrencies while the Ethereum blockchain managed to increase up to 2.18 percent against Bitcoin. XRP, on the other hand, became the second-largest gainer against the benchmark cryptocurrency after it increased by 5.97 percent. Some of the other altcoins including Litecoin and Bitcoin Cash also registered some decent gains. There is a sentiment that Bitcoin did not live up to its ‘’safe-haven asset’’ status in the face of the adversary. The recent drone attacks on the Saudi Arabian crude oil production facilities ended up destroying the already weak global economic outlook. The S&P 500 and China’s CSI have dwindled the investors digested the long-term prospects of the Saudi attack. Some of the analysts believe that the incident will halt the global oil supply for the next few months and the effect will even start reflecting the health of the international markets:
 “While the ultimate impact will depend on a combination of the extent of damage, the US and Saudi response, and whether further attacks occur, the current production decline will exacerbate the tightening in the oil market that was already underway and could add a more lasting geopolitical risk premium to prices.’’
Almost all of the haven assets are reacting positively to the Saudi attacks as well as Gold and Treasures who also managed to increase as the investors look at them as hedging assets. now, the crypto users are eyeing the Federal Reserve meeting and the markets expect that the US central banks will cut the interest rates by 25-basis point. The Fed Chair Jerome Powell is still facing political pressure from the US president and the chairman himself stated that he will address the attendees tomorrow. The analysts believe that bitcoin will surge once it reaches the $10,700 and as per the analysts Dan Tapeiro who stated for the latest cryptocurrency news:
“Everyone “knows” that fact already. In traditional markets, when everyone knows the fact it is considered “priced in.”
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