Bitcoin News
It’s Official: Bitcoin Is The 11th Largest Monetary Supply In The World

Recently it was announced that Bitcoin has become the 11th largest monetary supply in the world as tweeted by the trader and analyst Rhythm. In today’s altcoin news we take a closer look at the analysis about the 10-year-old cryptocurrency.
The mathematically limited supply of Bitcoin is now increasingly used as a store of value and it was also associated with the increase in supply. Regarding the market cap, Bitcoin beats the national currencies of Brazil, Australia, South Korea, Mexico, and Canada. The value of all bitcoin tokens created is now over $0.21 trillion which is short of the global supply of the Russian rubles.
Bitcoin still remains the hardest money ever created and it seems like there is some more scalps insight. The bitcoin market cap would have to topple the largest supply of India when Russia is despatched since there are more than $0.4 trillion worth of rupees in circulation. Another similar increase would have to happen in order to overtake Switzerland’s $0.6 trillion. The United Kingdom would also fall with about $0.7 Trillion worth of sterling in circulation.
It is considered that a further jump could happen in the current currency supply of the United States ($3.3 trillion) and Eurozone ($3.6 trillion). Even if this happens, we will still have China with $4.6 trillion and Japan $4.9 trillion to surpass before reaching a bigger prize. Of course, don’t forget about gold since it has by far the largest supply of base money with an estimated $8.4 trillion worth. While all this could look like fantasy, models like stock-to-flow are suggesting that Bitcoin’s reducing supply of new coins could propel the market cap to $100 trillion.
The biggest factor that brought up for bitcoin to be the 11th largest monetary supply is the bitcoin price. During the 2017 highs, bitcoin was already the 10th largest money. This also doesn’t affect the circulating supply since many of the existing coins are lost or unusable. However, this does increase their rarity which could further increase the price as we read in the latest cryptocurrency news. It is a nice thing to reflect on the people who put their faith in Bitcoin and as Rhythm suggests, ‘’it should blow your mind.’’
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Altcoin News
Syrian Refugee Is Teaching Cryptocurrency Basics In A Camp In Iraq

“People really need to know all the things about the internet and their phones and laptops,” the Syrian refugee claims. “We are in an advanced world and we should learn."Aldeen now owns a small amount of Ether (ETH) which he said he earned through a local education program run by the nonprofit Hello Future. However, as he claimed in the ETH news, his possessions are too little to spend so he is eager to earn more.As we could see from the Hello Future founder Charlie Grosso, most of the students in Aldeen's class think of mobile devices and computers in the same way like old-school Nintendos. They know that they could play games on them but are unfamiliar with Internet or access to global networks.
“The idea of searching to verify information is unknown to them,” she said. “They just don’t have that framework.”The Syrian refugee is obviously looking to change this and teach them everything about cryptocurrency and the latest crypto news. Even though the learning curve is steep for people in this camp, Grosso is confident that all 44 teens who took her computer literacy class quickly grasped the concept of stateless digital money.
“Two years ago, I got my first phone. Now everyone in my family has a smartphone,” Aldeen said. “I like games like Minecraft because I can build things, design things and improve my English.”The Syrian refugee also stated that cryptocurrency "might be good for saving money because if you put your money inside a bank, the bank might steal it."
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BTC App Bottle Pay Startup Shuts Down Due To New EU Laws

“The amount and type of extra personal information we would be required to collect from our users would alter the current user experience so radically, and so negatively, that we are not willing to force this onto our community.’’Bottle Pay will not be the only startup that was impacted by the regulations because they demand a stricter user verification process and the exchange BitPanda announced on Friday to be launching a new user registration process because of that. The chief economist at Canada’s Cypherpunk Holdings Inc, Jon Matonis, explained that these policies will apply to all custodial crypto wallets. The privacy-focused wallet Samourai Wallet which is not registered in any specific jurisdiction tweeted that the team believes the policy will apply to noncustodial wallets as well.Teana Baker-Taylor is a London-based expert and director of the crypto industry group Global Digital Finance, said that this policy could force the crypto wallet providers in the EU to collect the know-your-customer information from the users. The exchanges and wallets according to her, will become obliged entities:
"AMLD5 prohibits facilitated (non peer-to-peer) anonymous transactions. Custodian wallet providers and exchanges will be obligated to implement customer due diligence (including KYC) and transaction monitoring. They will also be required to maintain comprehensive records and report suspicious transactions."Steven Maijoor from the European Securities and Market Authority said that it is important to have risk warnings and risk information for the consumers that go into these products including anti-money laundering procedures and arrangements.
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