🗞 Daily Crypto News & Video November, 9th💰

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Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.

Enjoy!

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🗞 Crypto Long & Short: Bitcoin Gets Ready for a New Type of Hedge

Of all of the many clever things Mark Twain is alleged to have said, one of my favorites, especially these days, is: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”

In the turmoil that is 2020, many market “truths” have morphed into myths. And many trusted investment adages no longer make sense.

One that continues to puzzle me is how many financial advisers still recommend the 60/40 portfolio balance between equities and bonds. Equities will give you growth, the theory goes. And bonds will give you income as well as provide a buffer in times of equity decline. If you want to preserve capital into your old age, we’re told, this is the diversification strategy for you.

Since the crisis of 2008, that relationship has broken down. In fact, as the chart below shows, equities (represented by the S&P 500) have outperformed balanced funds (represented by the Vanguard Balanced Index) in terms of rolling annual performance over the past 20 years.

🗞 Ripple Sets Up Regional Office in Dubai As New Global HQ Plans Loom Large

  • Ripple continues to consider alternative locations for its global HQ after regulatory troubles in the US over its cryptocurrency, XRP.
  • Meanwhile, the company announced a regional HQ in Dubai.

In late October, Ripple, the San Francisco-based fintech company, announced it no longer wants to be based in San Francisco.

A regulatory quagmire around its cryptocurrency, XRP, pushed the $10 billion fintech company away from San Francisco…to London? Singapore? Somewhere in Switzerland or Japan?

  • Dubai International Financial Centre, where Ripple will base its MENA office, hosts fintech companies, but they’re unlikely to be Ripple’s next global HQ.

“Our regional office will serve as a springboard to introduce our blockchain based solutions and deepen our ties with even more Financial Institutions in the region,” said Gupta.

Though Dubai is a regional office, Ripple, separately, wants to shift its mother base out of Silicon Valley due to the US Securities and Exchange Commission’s regulation around its cryptocurrency. If XRP’s a security, as allege several lawsuits, Ripple can’t distribute it.

🗞 Another Mysterious Satoshi-Era Bitcoin Move—$30 Million Transfer

  • Bitcoin from 2010 was just moved to another address.
  • The Bitcoin has shot up in value since it was last moved—and is now worth $15.5 million.
  • It isn’t clear why the coins were moved—but it is likely the owner would’ve been in contact with Bitcoin’s creator.

Bitcoin worth over $30 million that had previously been sitting around in idle wallets “awakened” this weekend in four transactions.

Satoshi-era Bitcoin moved for the first time Friday—when 50 coins now worth over $700,000 moved to a single address. It hadn’t previously been touched since 2010.

🗞 Privacy Coin GRIN Is Victim of 51% Attack

Privacy-centric blockchain network Grin (GRIN) is undergoing a 51% attack, an event in which a miner (or miners) acquires more than 50% of the network’s mining hash power and takes control, according to a notice at the bottom of the Grin protocol’s website.

  • According to 2miners.com, which is responsible for 19.1% of the current hashpower on Grin, the unknown miner(s) grabbed control of 57.4% of the network's hashpower.
  • While the attack is underway, the protocol is warning users to wait for extra confirmations on transactions for payment finality.
  • Grin, which was the first cryptocurrency to test privacy protocol MimbleWimble, drew an estimated $100 million in venture capital to mine it, was once called “Bitcoin 2.0.”

🗞 Daily Crypto Calendar, November, 9th💰

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  • Horizen (ZEN)

Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

  • Blockstack (STX)

Join STX Co-Founder Muneeb Ali in this Binance AMA Series for the upcoming Stacks 2.0 Mainnet Launch.

  • IoTeX (IOTX)

"Crypto VIP Signal will host AMA with @iotex_io on 9th Nov."

  • Aave (AAVE), Aeternity (AE)

"æTernity & @Piixpayteam are organizing #AMA session on the #HumanDeFi #hackathon on 9.11.2020! Special guests: @jelly_swap, @AaveAave..."

  • Bolt (BOLT)

Every week our dev-team shares our progress and updates to the Community.

Last Updates

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