Monopoly vs crypto users

Blockchain and crypto technologies, built on a commitment to achieve democratization and decentralization, offer a solution that could bring down the concentrations of power that currently govern the internet. The internet remains physically decentralized. It now depends on large, centralized services to support its critical components, like web hosting, cloud computing, DNS services, social media etc. More sinister is the ability to determine and restrict what consumers can see and consume — search results are prioritized by advertising revenue and filtered by location and government, subtly concealing advertising based on consumer behaviors and demographics.

More than double the price

Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000.  He announced on state television on Thursday the price increase of the petro, Venezuela’s so-called national “cryptocurrency,” effective on Friday. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers.The announcement was made at the same time he ordered a 150 percent increase in the country’s monthly minimum wage, the sixth rate hike this year. The Petro code is also not available to the public, so independent confirmation of its existence or functionality is impossible.

Chinese miners migration

CoinShares, the crypto asset investment and research platform, has recently come out with a new 19-page report titled: “The Bitcoin Mining Network—Trends, Marginal Creation Cost, Electricity Consumption & Sources.” The report explains and analyses critical operational factors for a Bitcoin mining company like hash rate, marginal creation cost, hardware costs, and hardware efficiency. Miners found it unviable to operate their rigs in China and, in significant numbers, were leaving China, or choosing not to reinvest within China. Instead, they are setting up operations in certain regions of Scandinavia, Russia, Canada and the United States. It is due to cheaper resources and lower temperatures.

Bitcoin share surge

Patrick Byrne is selling the company’s retail business to focus on its blockchain offering, shares of Overstock have surged a massive 23.26 percent to end the day at $20.93. Over three years after backing tZero, the startup is yet to launch commercially, while costing Overstock millions of dollars every month alongside several other blockchain-based startups supported by Medici. Overstock is sitting on a substantial pile of cash including more than $130 million raised in the tZero token sale. Medici has taken in more than $175 in investment from Overstock since its launch in 2014. Overstock’s share price has sharply correlated to the market performance of bitcoin

Bitcoin’s “Superlative” Milestone – Overstock’s CEO

Even when the cat is petrified with fear, its pupil dilates showing a sense of consciousness with its heartbeat upsurging. Just like the pupil, Bitcoin tends to dilate too, even when the trend is dormant, it has always shown a sense of consciousness with its community and transactions upsurging. Now Bitcoin, the protagonist of this virtual drama, has achieved a milestone and has ticked higher over the last 24 hours, boosted by positive sentiments across major cryptocurrencies. Bitcoin bull Patrick Byrne (CEO of Overstock) is expecting a mass adoption of cryptocurrency. Byrne explained his “out of the box” views on this issue stating

People turn to it where they collapse, like Venezuela or Cyprus or Syria, something like that.

XRP prices hike

Expectations pushes XRP prices hike

The ripple’s native currency XRP prices was trading at 0.27 USD on September’17 after being oversold since January’s peak.  The United State’s Banking major PNC’s partnership with XRR created a huge anticipation among Crypto investors.  The positive news about Ripple-PNC along with the most expected product of Ripple.

Expectation pushes XRP prices

The X Rapid’s which uses XRP in real time triggered the rally as unofficial sources reported on X Rapid launch by this month.  This turn factor made Ripple to rally more than 40% from $0.27 to 0.45$.  Checkout prices on Prices Doyens