An alternative crypto currency for the cannabis industry.
Cannacoin is an internet based digital currency for the cannabis industry: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, Cannacoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Cannacoin. As such, it is more resistant to wild inflation and corrupt practices. With Cannacoin, you are your own bank.
According to CCN, Bitcoin Max, a Brazilian cryptocurrency exchange, has recently seen two banks in the country, Santander and Banco do Brasil, reopen its accounts to avoid paying fines following preliminary decisions made by Brazil’s Federal District Court.
According to CCN, bitcoin mining pool operator Slush Pool is urging miners not to upgrade their Antminer S9 devices to a new firmware patch released this morning by manufacturer Bitmain, as it will render the devices incompatible with Slush Pool.
Report's author: St Louis Fed research fellow Charles Kahn (Champaign, IL)
Abstract: Privacy in payments is desired not just for illegal transactions, but also for protection from malfeasance or negligence by counterparties or by the payments system provider itself. Proposals to abolish cash take inadequate account of these legitimate demands for privacy. While central banks can play a useful role in setting standards for payments privacy, they are unlikely to have a comparative advantage at providing privacy. Therefore the replacement of cash by central bank electronic money is likely to spur demand for alternative means of payments to solve specific privacy problems.
Bitcoin Price Could Reach Further Lows Below $6,000: Analyst
This is the best tl;dr I could make, original reduced by 43%. (I'm a bot)
Ran Neu Ner, founder of Onchain Capital, and host of Cryptotrader on CNBC Africa was on CNBC's Fast Money offering his prediction that bitcoin is likely to see further downward movement relative to the US dollar, possibly going as low as $5,900 USD. The problem, according to Neu Ner, is not to do with any recent hacks to exchanges, the same way that any one bank being robbed does not mean that there is any problem with the US dollar. Neu Ner did offer that there was a significant milestone if Bitcoin should drop to $5,000 USD. This, according to him, is roughly where it becomes difficult for miners to maintain profitability in their operations. Falling below this point could cause mining operations to switch to other currencies or pull out of Bitcoin, leading to changes in the infrastructure of Bitcoin that might hinder its long-term viability. Neu Ner did not go into specifics about what exactly might be the consequences of Bitcoin being less profitable to mine, but it was clear that $5,000 USD was a price point to pay particular attention to. He spoke interchangeably about blockchain technology and Bitcoin, making it unclear whether or not he felt that Bitcoin underpinned the entirety of the cryptocurrency market, or if the cryptocurrency market would survive a significant Bitcoin crash. The alternate possibility of Bitcoin losing dominance and other cryptocurrencies filling the void was not discussed.
About Bitcoin. Bitcoin is the original cryptocurrency released in 2009 as open-source software.It is a digital currency predicated on cryptographically secure transactions, a proof-of-work consensus model, and a decentralized, P2P distributed ledger network. Cryptocurrency News (CCN) offers breaking news, analysis, price charts & more on the most popular cryptocurrencies such as Bitcoin, Litecoin, Ethereum & Ripple & emerging cryptocurrencies such as Monero, Stellar, Dash & EOS. Cryptocurrency News offers something for everyone. Get the latest CCN headlines! Bitcoin is digital money (a cryptocurrency). It was the first payment network that had no central authority and is powered by it's users. Many traditional CFD brokers have begun offering a bitcoin live price for trading. It is a high risk instrument and will take a fair amount of time to fully understand how it works. In review, when reporting on Norway, CCN publishes articles critical of the Norwegian Government’s bitcoin policy, such as “Norway: Tax on Crypto Mining Scares away $116 Million Foreign Investment”. The article reads “A parliamentary representative even called bitcoin “the dirtiest form of cryptographic output, making it clear that they were not happy with the ways things were going ... Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies.
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