Author: Editorial Office CVJ.CH

Investors are currently struggling in all parts of the world, looking for investment alternatives, with crypto-currencies such as  bitcoin being a serious consideration. Financial markets are currently facing their worst crisis since 1929 and in recent days the search volume for the most popular crypto-currency has increased on Baidoo and Google Trends. Bank of China sees three problems regarding crypto-trading The Peoples Bank of China (PBoC) has now warned against investing in crypto-currencies on its official WeChat account. The PBoC published an article on the 22 March under the title “3.15 Protection of financial consumer rights and interests”, it lists the three most serious frauds subject to…

After a  campaign by the Italian Red Cross (ITR) was able to achieve its fundraising goal within three days, the organization is now asking for further donations in the form of bitcoin. The campaign, which was launched on March 12, is intended to enable the Italian Red Cross to purchase medical equipment for the preliminary examination of corona patients. The target, which was initially fixed at 10,000 euros, has now been raised to 25,000 euros. The ITR has already ordered clinical materials after having achieved the  10,000 euro target. Currently, the fundraising campaign has achieved around 80 percent of the hoped-for goal.…

Bitcoin (BTC) is the first and leading cryptocurrency based on blockchain technology, which enables direct transfers of value between users (peer-to-peer) without intermediaries, and is secured through a decentralized process called Bitcoin mining.

The US investment bank JPMorgan Chase has published a report on blockchain, digital and crypto-currencies. The report states that blockchain is still many years away from being widely used. In the 74-page report, the report’s authors state that they see “long-term potential” for Distributed Ledger Technology (DLT) to change the current business model for banks, by providing a more efficient method for transferring information. They also explain in the study that the speed at which blockchain technology can be introduced, depends on “solving legal and technical problems” — especially those related to cross-platform integration. Basis for fast payments and digital currencies already established It…

On the first of March, The South Korean city of Seoul introduced a blockchain-based petition system. The system is intended to give citizens the opportunity to propose issues directly to the local administration. Residents of the capital can use the system to submit proposals to the government about possible changes to existing policies or other issues. Blockchain will be mainly used to verify identities, with the government wanting to make sure that every person in the network is checked to avoid possible double voting. The initiative, called “Democracy Seoul“, is intended to support the central government’s vision of creating a more open platform…

According to a representative survey by Migros Bank, younger generations are increasingly betting on crypto-currencies instead of physical gold. Around 7 percent of the 18- to 55-year-old Swiss population have invested money in bitcoin or in other crypto-currencies. That is more than they have invested in physical gold. For the over-55s, by contrast, the preference is clearly for precious metals. This is the result of a representative survey conducted by Migros Bank in October 2019 by the market research institute Intervista on behalf of Migros Bank. The survey was conducted online among 1500 people aged 18 and over from German, French and…

Bitcoin/USD daily basis Bitcoin/USD – Series of lower highs leads to setback The bitcoin share price moved further away from its recently reached new highs of around USD 10,500 this reporting week, as it did in the previous week. From Sunday onwards, the price traded downwards with lower highs and lows. On Monday, a further lower high, since the high on the 13th of February, was marked at just under USD 10,000. This movement was followed on Tuesday by a test of initial support at around USD 9,500. Already on Wednesday, this was broken with a massive red candle, which…

Hyperledger’s  four-year existence has been crowned by a special event. The US-American group Walmart has now joined the blockchain group. Hyperledger, which is under the patronage of the Linux Foundation, announced this news at the “Hyperledger Global Forum” event. The event takes place from 03 to 06 March in Phoenix, Arizona. In addition to Walmart, seven other companies have joined. Other companies that rely on Hyperledger include the technology companies Conduent and Clear, a blockchain company focused on clearing in the telecommunications sector. Walmart’s director of software development for blockchain platforms stated: One of the reasons we are now a member of Hyperledger is to…

The Supreme Court in India has lifted a restriction on crypto trade. The Reserve Bank of India (RBI), had originally excluded banking services from the use of digital currencies. Reserve Bank of India’s attempt to ban crypto-currencies failed The Reserve Bank of India had made every effort to prohibit the trading of crypto assets by individuals and corporations. The campaign began in April 2018 with a circular instructing banks and businesses not to trade in digital assets. Now the restriction has been lifted, according to an Economic Times report. Dispute had dragged on for several months before the Supreme Court Regulated exchanges and service…

Bitcoin USD daily basis Bitcoin/USD – Black Thursday leads to the breaking of all supports At the beginning of the reporting week, the bitcoin price moved below the USD 8,000 mark —  with a tendency towards lower daily highs and lows. For the time being, it the price was held the support USD 7,700, which was established by earlier resistance zones. However, as the stock market collapsed on Thursday, bitcoin was no longer able to hold ground; as on the same day, the price plummeted to 4,600 USD. ~This rut continued on Friday, which led to prices dipping below 4’000…

The creator of the popular Facebook game FarmVille, Eric Schiermeyer, has entered the blockchain gaming industry. Schiermeyer is the founder and CEO of Blockchain Game Partners and has started developing a blockchain-based gaming platform. Schiermeyer’s gaming network is called Gala Network, and takes place on the blockchain. The platform will allow players to fully own blockchain-based in-game items. The in-game items should therefore be presented as non-fungible game pieces. These can be used in several games available on the Gala network. Already fifteen developers are currently working on the development of Gala. Townstar integrates mining function Blockchain Game Partners is working…

Peer-to-peer bitcoin trading in Venezuela has risen sharply due to the closure of banks due to a nationwide quarantine in Venezuela. The nationwide quarantine, which was imposed on 17 March, is intended to slow the spread of the COVID-19 virus. As there are only 33 confirmed cases of the virus known to date in Venezuela, this measure is intended to reduce the spread and prevent the country’s healthcare system from a rapid increase in infections. Trade volume increases after closing of borders and banks As a result of the quarantine, the banking sector was stopped for an “indefinite time”, which led to…

The Italian Banca Sella has set up a service for trading bitcoin in the last few days. The bank is using their “hype platform” for this purpose and sees bitcoin as a secure way to transfer money internationally during the crisis. The “Hype platform” currently has 1.2 million customers Currently, around 1.2 million Italians are using the “hype platform” to carry out transactions. In the future, they will not only be able to buy and sell bitcoin with the help of hype, but also pay for goods or services with it. Antonio Valitutti, General Manager of Hype, said: The market for crypto-currencies, and bitcoin…

The New York Department of Finance (NYDFS) requires crypto-currency companies to prepare detailed coronavirus preparedness plans. This is to signal the seriousness of COVID-19. Crypto companies face new challenges New York’s crypto-companies must prepare contingency plans with detailed information, according to a letter sent on March 10. The preparations must include strategies to protect employees and increase cyber-risk mitigation. Communication plans are also needed in the event of a disaster. In addition, procedures are needed to ensure the continued functioning of critical operations. This should ensure that important operations can continue to run. The NY regulatory authority was particularly concerned about the…

There was no stopping on Thursday. Along with the traditional financial markets, bitcoin lost 30% within a very short time. After temporarily bottoming out, the price dropped below USD 4,000 on the same day, corresponding to the previous day’s bitcoin crash, which wiped 50% from crypto’s leading currency. What led to the current Bitcoin crash? 3 factors can be identified: Expectations too high The properties of bitcoin are impressive. A valid alternative for decentralized value transfer. Censorship-resistant and trust-free. The path which bitcoin has taken, in its almost 11 years of existence, is impressive and unprecedented. The chances of continuing in this…

The two most popular Bitcoin valuation models are PlanB’s Stock to Flow model and Willy Woo’s NVT ratio. The SwissRex model combines these two models and includes monetary and fiscal policy. Stock to Flow The Stock to Flow ratio was first described in 1997 by the Hungarian professor Fekete. [1] The Stock to Flow ratio relates the inventory of a precious metal to its annual production. The higher the Stock to Flow ratio, the less the impact of a supply shock on the price of that precious metal. Gold first established itself as a store of value because it was…