21-July-2020 : Garg Proposes Indian Government Regulates Crypto as Commodity
Subhash Chandra Garg, former Economic Affairs Secretary and Finance Secretary of India, talked about the prospect of regulating cryptocurrency in the country during a webinar entitled “Cryptocurrency in India: What the future holds.” It was organized by law firm Khaitan & Co. in association with Blockon and Crebaco Global. Garg was the keynote speaker and he also appeared on the webinar’s panel discussion.
Garg explained via Twitter on Saturday that he made a case in this webinar for the “evolution of Demat paper currency as digital currency of future, outlawing of pretender cryptocurrencies to protect people and to allow regulated development and trading of crypto assets as commodities.”
During his keynote speech, after giving the examples of gold, silver, and diamonds, Garg said the value of crypto assets “lies in the eye of the beholder.” He added: “If someone wants to value code which is in the form of a crypto asset and wants to invest in it, it can do in that form, in that way. Crypto asset is a commodity, not a cryptocurrency.”
21-July-2020 Analysts Claim Bitcoin's 76 Day
The price of bitcoin has been very stable lately, and the crypto asset has been trading in a less volatile range just above $9k per coin for 76 consecutive days. After the third halving, the price of bitcoin has also been far more stable, in contrast to the price action after the second halving. However, bitcoin’s price still seems to be following a similar route to 2016 when the digital asset’s price trended sideways for quite some time, until it eventually led to the all-time price highs in 2017.
Cryptocurrency investors and evangelists have been discussing how bitcoin (BTC) prices have been stable for a long period of time. For instance, on July 14, software developer Jameson Lopp tweeted that “bitcoin has been trading in a range of ±3% for [six] consecutive weeks” with a meme that says: “Look at me, I am the stablecoin now.”
Bitcoiners discussed the subject on Reddit as well, as a number of Redditors conversed about BTC’s stability on an r/bitcoin post called: “Bitcoin price seems like much more stable since the last halving in May.”
The Covid-19 pandemic has taken its toll on the world, causing almost half-a-million deaths, illnesses, and economic downturns. The World Bank argues that the deadly virus could push up to 60 million people into extreme poverty, wiping out the progress made in this area in the past three years. In a recent report, the financial institution also said they believe that about a million people will drop back into extreme poverty in South Africa alone. In this Sub-Saharan country, where about a third of its 67.4 million inhabitants do not have access to essential sanitation services, the Covid-19 disease could have a particularly devastating effect. The World Health Organisation (WHO) recently warned that because more than a third of Africa's population lacks access to adequate water supplies and nearly 60% of the urban population lives in overcrowded slums where the virus could thrive, the continent could be the next epicenter of the coronavirus outbreak.
10-July-2020 : COVID-19 Popularizes Bitcoin
Remaining humble, Kiyosaki assures his listeners that it also took him a while to get on the Bitcoin and crypto train, but that he was now “buying it.” Kiyosaki’s interest in Bitcoins piqued when the current COVID-19 pandemic prompted the US Federal Reserve and other central banks to print money in bulks, in an attempt to salvage declining economies worldwide. Due to the pandemic that erupted at the beginning of this year, Bitcoin also experienced its third halving, meaning the daily supply of new Bitcoin was cut by half.
On Twitter, Kiyosaki also predicted that Bitcoin’s price will reach $75, 000/BTC within a three-year period and said that we must “pray for the best-prepare and for the worst.”
06-July-2020 : P2PB2B
P2PB2B boasts an astonishing 700+ trading pairs, including 300 or more coins or tokens, as well as a daily trade volume approaching $1 billion. The platform can process 10,000 trades per second and caters to an international customer base. Additionally, P2PB2B stores the large majority (more than 95%) of all cryptocurrency reserves in cold wallets for the best possible protection against hacks and theft.
05-July-2020: Food and Cash Shortages Push Cubans Toward Permissionless Cryptocurrencies
The Nation of Cuba is dealing with a national food crisis, as Venezuela has stopped offering aid to the small island nation. Moreover, the coronavirus outbreak has caused a shortage of cash couriers called “mules” and everyday items are becoming scarcer. Amid the crisis, a number of Cubans are resorting to leveraging cryptocurrencies like bitcoin to curb inflationary pressure, and the country’s first peer-to-peer bitcoin exchange Qbita launched last April.
The Covid-19 pandemic has ravaged the Cuban economy just like it has throughout the globe. However, Cuba has been hit much harder because of the country’s socialist regime. Cuba is located in the northern Caribbean region and the state adheres to Communism and central planning. This gives the government an authoritarian position over the entire Cuban work force and the country’s means of production.
Leadership is quite tricky in Cuba, as Miguel Díaz-Canel is the President of the nation, but the people follow the rule of Raúl Castro’s guidelines. Raúl Castro is the official first secretary of the Communist Party of Cuba, and to this day, the first secretary is the most powerful leader in Cuba.
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