Zář 07

Ethereum Hard Fork: How Important Is Backwards Compatibility?

The Ethereum Foundation has delayed the testnet launch of the Istanbul update until the start of October. But some are raising concerns about one of the Ethereum Improvement Proposals (EIPs) which will break certain smart contracts. So should technology be backward compatible ad infinitum?… or is a little disruption necessary in the name of progress?


Too Many EIPs Delay The Upgrade

The testnet activation of the latest update was originally due to happen on September 4th. However, the date has been pushed back to the start of October due to a large number of EIPs submitted for review. Developers eventually accepted six of these for inclusion in the Istanbul package, with a further eight in the following upgrade.

The testnet delay means that the mainnet activation will also occur a month later, in November after the DevCon developer conference.

Breaking Ethereum’s Contract

However, Parity developer, Wei Tang, has raised concerns about one of the improvement proposals, Ethereum Improvement Proposal 1884. This “will break at least a few deployed contracts,” he tweeted, continuing that “what worries me is that some participants on last AllCoreDevs seem to classify it as acceptable behavior.”

He goes on to say:

For software engineering, if you’re developing something that many people depends on, then backward compatibility is one of the top priorities for making any design decisions. This is especially important for blockchain, because a lot of money can be involved.

The technical details of the compatibility issues can be found on GitHub.

You Can’t Make An Omelette Without Breaking Eggs

While Tang’s concerns may seem valid, there is, of course, a counter-argument that obsessing over backward compatibility is counteractive to progress.

Tang makes the example of Microsoft’s Windows gaining popularity because of backward compatibility. Whilst it may have gained popularity in this period, it arguably fell into a technological black-hole.

Apple’s insistence on allowing old-tech to fall into obsolescence was (and still is) widely criticized. However, it took Microsoft years and many iterations of Windows before it caught up to the advances of Apple’s OS X, losing backward compatibility on the way.

If it were purely down to Microsoft, we would likely still be lugging around laptops with legacy VGA and serial ports. Slimline, slimline!

With concerns as to how much space is left on the Ethereum blockchain, clearly something must be done or technology could die. With stakes that high, surely a few broken contracts are a small price to pay?

What do you think about the disputed Ethereum Improvement Proposal? Comment below.


Image via Shutterstock

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Srp 23

Bitcoin Panic Unwarranted But Ethereum Still ‘Ugly’ Below $200

The week has ended with reclamation of five figure prices by bitcoin. Some of the altcoins have been marginally dragged up with it, but many including Ethereum are still looking extremely weak.


Bitcoin Back Over $10k

The past five instances bitcoin has dropped into four figures have been brief encounters. There is clearly a mass of buyers waiting in the upper $9,000 price zone to keep the digital asset from falling further. Yesterday, analysts were leaning towards a bearish stance predicting further declines, even into the $8k region.

The lowest price tapped by BTC was $9,750 according to Tradingview.com. During today’s Asian trading session it returned to $10,250 and has started to consolidate around there, currently trading at 00.

bitcoin

BTC prices 1 hour chart – Tradingview.com

The market chop has continued and there is no sign of clear direction at the moment which makes the fear and panic totally superfluous. Yesterday the bitcoin fear and greed index dropped to its lowest level for over a year hitting 5, today it is back up to 33. Crypto warlord John McAfee called for a halt to this unnecessary panic:

Bitcoin jitters? Just stop it! Short term fluctuations are meaningless. Bitcoin is still up almost 300% from 6 month’s ago. Every time there’s a dip I have to calm people in replies, DMs, etc. GET A GRIP! You know in your heart Bitcoin cannot lose. Relax!

Ethereum Not Out Of The Woods

The same cannot be said for Ethereum however, and there appears to be greater reason to be concerned for anyone holding large amounts of it at the moment. ETH has made a 3.5% gain on the day to recover to $193 but it is still looking extremely weak. Some may see this as a greater risk/reward opportunity but popular crypto analyst Josh Rager remains bearish.

$ETH will surely increase in value but has been outperformed by $BTC ever since the ICO boom busted. I wouldn’t compare ’19 ETH to pre-euphoria ATH BTC. If BTC breaks down to $8ks, ETH will follow with a break under $150. ETH chart is ugly. Not the time to accumulate ETH IMO.

Ethereum market share has dropped to just below 8% which is its lowest level for over two years. All of the altcoins have been battered though so ETH is not alone in its suffering. The network is still healthy and new improvements are constantly being made. The upcoming two phase Istanbul hard fork will bring in a number enhancements on the road to ETH 2.0 so it is only a matter of time before the world’s second largest crypto asset starts to recover.

Will Ethereum make a recovery this year? Add your thoughts below.


Images via Shutterstock, Twitter @Josh_Rager, @officialmcafee, BTC/USD chart by Tradingview

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Srp 22

‘Foolish’: Crypto Fund CEO Warns Against Bitcoin Maximalism Narrative

Cryptocurrency politics is focusing on Bitcoin at the expense of altcoins, but a flip could occur any time, an industry investor has warned.


Simpson: Don’t Pin All Your Hopes on Bitcoin

That was the conclusion from Arianna Simpson, founder and CEO of crypto and blockchain-focused investment fund Autonomous Partners.

In a discussion on social media August 22, Simpson said sentiment favored Bitcoin over altcoins now, but that status quo has changed multiple times and could do so again.

“The general crypto narrative seems to be drifting back to bitcoin maximalism,” she summarized.

…BTC has clearly outperformed most other cryptoassets by a wide margin YTD. Expecting that this will always be the case (or that holding only BTC is the right move) strikes me as foolish.

The comments come at a timely juncture in cryptocurrency’s history. As Bitcoinist reported, Bitcoin’s returns have vastly outperformed major altcoins in 2019. Unlike the previous bull run in 2017, alts have so far failed to rally, losing more and more value in BTC terms. 

Top five tokens such as Ethereum (ETH) and Ripple (XRP) continue to trade around 80% below their all-time highs. Against BTC, both are lower than ever.

Well-known traders have thus gone on record in recent weeks to announce the death of the altcoin market, possibly for good. Among them was Peter Brandt, who likened the lifelessness of alt markets to the dot com boom of the early 2000s.

Ethereum ‘Better Performing Investment’

Simpson’s opposing argument is thus even more conspicuous.

“Those who have been in this space for many years should recall that this is by no means the first time the pendulum has swung back and forth — in 2017 bitcoin was old news and it was all the shiny new (Layer 1 technologies) that were going to take over the world,” she continued.

“In reality, ETH was a better performing investment for many (even when considering the major correction of 2018!) than BTC was. So BTC remains king, but discounting everything else is silly.”

Her remarks will be music to the ears of long-suffering investors whose portfolios have failed to react to this year’s Bitcoin bull market. 

Pressure also continues to come from Bitcoin advocates, with developer Udi Wertheimer this week publicly chastising Ethereum participants in particular for the losses following 2017’s ICO craze. 

“It’s time for the ETH gang to wake up, smell the ashes, and take some responsibility,” he tweeted. 

“Their 2017 ‘blockchain everything’ narrative failed miserably and cost retail investors BILLIONS, dumped into scams supported by ETH naiveté.”

What do you think about the Bitcoin vs. altcoins debate? Let us know in the comments below!


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Srp 10

Ethereum Price Analysis: Bears Eye Pullback To $190 Support

Ethereum price recently broke out of a period of consolidation as mentioned in my previous analysis on ETH, completing an asymmetrical triangle in favors of the bulls but has since begun a pullback breaking the short-term support. Bears now eye $190 support around the visible range low.


Ethereum Price 1-Hour Analysis
ethusd60

On the 1 hour chart for ETH/USD, we can see how price action progressed after the breakout. Price levels tested $240 resistance and failed to gain on the 6th of August resulting in a rejection causing a pull-back to break the short-term support around $217. Since then price levels have continued to drop and looks poised to re-test the visible range low at $189 just below the 0.382 Fibonacci level.

It’s important to note that volume remains reasonably low on this pull-back and will need to see a drastic increase in selling momentum to cause a crash through $189 support making it likely that a bounce could happen as market price tests this key support price level. RSI just hovering above 20.00 being oversold indicates selling momentum has control over market price.


Ethereum Price 8-Hour Analysis

ethusd8h

On the 8 Hour chart for ETH/USD, we can see where the support at $189 originates from being the local top throughout the middle of April just before price levels broke out and swiftly tested $282 resistance thereafter. RSI has yet to hit oversold zone but appears to be clearly heading in that trajectory, by the time the market price which is currently $204 tests support at $189 it’s likely RSI will be fully oversold presenting a good reason to consider re-entering at this level.

200 EMA can be seen acting as resistance at the local top mentioned on the 6th of August at $240 meaning the recent breakout was a failure to gain aka fakeout as the necessary volume needed for price levels to sustain a new short-term bullish uptrend didn’t arrive. The volume appears to be almost flatlining now in comparison to volume seen throughout April, May, and even June. POC (Point of Control) sits at $168 and will be the next key support level to look out for if $189 breaks.

15 SMMA and 50 MA can be seen just about to cross down over each-other at the recent support break-down point at $218. This could signal much further downside to come so it’s important to practice effective risk management when taking any trades on ETH/USD over the coming days and weeks.

Do you think the volume necessary to propel ETH/USD higher will arrive in the coming days? Please leave your thoughts in the comments below!


Images via Bitcoinist Image Library, ETH/USD charts by TradingView 

This article is strictly for educational purposes and should not be construed as financial advice.

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Kvě 12

‘Facebook Coin’ Will Be More Like Bitcoin Than Starbucks Rewards, Says Analyst

Speculations about the purpose of Facebook’s planned digital coin are getting wilder. Ignoring key features like independence and decentralization, one analyst predicts that ‘Facebook Coin’ would look more like Bitcoin or Ethereum than your Starbucks reward points.


Facebook Coin Might Encourage Viewing Ads

With growing interest, many are trying to envision Facebook’s planned ‘FaceCoin.’ Lacking specifics from Facebook, speculations abound about everything from the coin’s name to what it will be used for.

Under the code name “Project Libra,” tech journalists say, Facebook, Telegram, and Signal are devising their own digital token, which would allow their billions of users to exchange money across the Internet, through their payment systems.

Others argue that Facebook’s coin will be more like one of the major cryptocurrencies. In effect, one analyst, Lisa Ellis, a MoffettNathanson partner, predicts:

The Facebook (FB) coin (Facecoin, perhaps?) would actually look more like one of the large public cryptocurrencies such as Bitcoin or Ethereum and less like the internal-payment or loyalty systems that companies like Starbucks(SBUX) use.

She adds that FBCoin will likely be a more-public coin that’s governed by an independent board such as Ethereum and its foundation.

Except That It Won’t…

But regardless of the type and number of predictions put forward, one thing is sure. Facebook’s digital coin won’t be anything like Bitcoin.

It will be issued, developed and controlled by a centralized authority. Its ledger will not be immutable, and access will likely require your Facebook account.

The social media giant has not explicitly denied or acknowledged any of these speculations too. The latest statement on the subject from the company was issued to Barron’s on May 10, 2019,

[Facebook is] exploring ways to leverage the power of blockchain technology. This new small team is exploring many different applications. We don’t have anything further to share.

Visa, Mastercard Would Welcome a ‘FaceCoin’

But while Ellis didn’t mention any specifics, Ellis believes Facebook’s coin probably will end up being a tool to encourage users to watch ads.

This is something Brave has been attempting with its browser and native BAT token though some haven’t been impressed and are working on a more bitcoin-friendly version.

Meanwhile, Ellis had also earlier warned clients that cryptocurrencies could pose an existential threat to Visa, Mastercard, and Paypal. In contrast, she argues that Facebook’s coin would actually benefit these payment giants. Ellis wrote,

If Facebook(FB) launches an open digital wallet and checkout button, the company will need to collaborate with Visa and Mastercard(MA) to enable a variety of card-based funding methods in its wallet (similar to Apple Pay, PayPal(PYPL), or Google Pay).

So how will it be like Bitcoin again?

Will Facebook’s digital currency be anything like Bitcoin? Let us know in the comments below!


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Kvě 08

‘Shocked He Went There:’ Crypto Takes Sides On Binance’s Alleged Bitcoin Reorg Plan

Cryptocurrency’s best-known figures continue to debate exchange Binance’s handling of its $40 million hack amid claims executives planned to undo past Bitcoin transactions. 


Binance CEO Rejects Reorg

In a lengthy debate still playing out on social media, Binance received mixed reviews after CEO Changpang Zhao appeared to suggest there was a plan to conduct a reorganization (‘reorg’) of the Bitcoin blockchain. The step would theoretically allow the transactions involving the bitcoins hackers stole from Binance May 7 to no longer fall under their control.

At the same time, an entire day’s worth of user transactions would become void.

Reorgs to fix erroneous transactions are extremely difficult to do for decentralized blockchains — and, in the case of Bitcoin’s, de facto impossible due to the consensus demands required.

As Bitcoinist previously reported, more centralized blockchains can conduct similar activities more easily. EOS, for example, reversed transactions late last year in an episode which likewise attracted negative attention.

While Zhao subsequently explained that the idea remained hypothetical following discussions and that Binance would not pursue any form of the reorg, some reactions criticized him for mentioning the topic.

Mike Novogratz, the Galaxy Digital CEO and major Bitcoin bull, vented rare comments on the topic after Zhao drew a comparison between his plan and efforts by Ethereum (ETH) developers several years ago.

“I am shocked that (Zhao) even went there. Talk of forking or reorganizing the blockchain is close to heresy,” he wrote on Twitter. “When the (Ethereum) community did it the project was like 5 months old. A baby. Bitcoin now has $100 (billion) market cap and is a legitimate store of wealth.”

Back: Reorg ‘Not Happening’

Ethereum co-founder Vitalik Buterin also added a rebuttal, arguing Ethereum’s actions did not constitute a reorg.

“Ethereum did a surgical irregular state change. We never even considered actually rolling back the chain to undo the hack; the collateral damage from that (reverting a day of *everyone’s* transactions) would have been huge and possibly fatal,” he tweeted.

Binance’s back-up fund will cover losses endured by users, while the event appeared to have little impact on buoyant cryptocurrency markets, Bitcoin price shedding $200 but subsequently rebounding.

Mentioning the press handling of the hack as complicating perceptions, veteran cryptographer and Hashcash inventor Adam Back meanwhile took the opportunity to reiterate the difficulty of manipulating the Bitcoin blockchain.

“A Bitcoin reorg is just not happening, and I doubt any Bitcoin industry, miners nor developers considered it either,” he summarized, referencing previous, considerably larger, exchange hacks which came and went without such measures coming to pass.

What do you think about Binance’s remedial measures? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter.

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Kvě 04

Singapore Students Receive ‘Tamper-Free’ Digital Certificates On Blockchain

Students at the high-school level and above in Singapore will from this year receive digital certificates upon graduation. The initiative uses blockchain technology to enable an “easy and reliable way” to prove qualifications through tamper-free certification.


Authenticating An Education

The concept is simple enough. Graduating students receive digital certificates via email, each of which has an embedded cryptographic proof. Schools also add the certificates to an individual’s MySkillsFuture account – an online portal charting career and lifelong learning pathways. A copy also resides on the Ethereum-blockchain-based OpenCerts platform.

When applying for jobs or further studies, students send the digital certificate to the employer or school.  Relevant parties can verify the certificate against the copy stored on the blockchain.

Education Minister Ong Ye Kung described the initiative as a “tangible example” of the benefits of Singapore’s Smart Nation journey.

With OpenCerts, we are harnessing the power of blockchain in a practical way. It allows for any education institute to issue OpenCerts, and for anyone to quickly check the validity of a digital certificate.

Cutting Through The Paperwork

This should make the job application and hiring process smoother for both the applicant, employer, and issuing institutions.

Students would no longer have to request certified-true copies of certificates from schools. Patrice Choong of Ngee Ann Polytechnic (NP), said that NP issues around 10,000 of these every year. He added that “issuing and verifying certificates was a ‘productivity issue’ that they wanted to deal with.”

In turn, employers could immediately verify digital diplomas as genuine, without having to approach the issuing institution. Mr. Choong says that NP receives around 2,000 such requests per year.

However, he stressed that students would still receive a physical certificate at a graduation ceremony.

Singapore Has Always Been An Asian Jewel

Singapore has been one of the most positive nations when embracing Bitcoin, cryptocurrency, and blockchain technology. The Central Bank of Singapore developed a blockchain-based settlement system for tokenized assets, and its sovereign wealth fund is a major investor in US-based exchange, Coinbase.

This latest initiative, however, is the first blockchain-based project rolled out at a national level.

Will this use-case prove to be a useful app for blockchain? Share your thoughts below!


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Dub 05

Ethereum’s Vitalik Buterin Clashes With Bitcoin-Basher ‘Dr. Doom’

Perennial Bitcoin basher and anti-cryptocurrency campaigner, Nouriel Roubini and Ethereum founder Vitalik Buterin had a heated debate at the second edition of the Deconomy blockchain event in Seoul, South Korea.


Broken Record: Roubini Has Nothing New to Say

Nouriel ‘Dr. Doom’ Roubini – a New York University economics professor regurgitated his old hits, calling cryptocurrency a bubble and saying that it was only useful to criminals and tax evaders looking to launder money with virtual currencies as the “New Swiss bank.”

However, having made the above assertions, Roubini then goes on to say:

I don’t think crypto payments for criminal activity is going be the future of it. They’re not anonymous and even for cryptos that try to be anonymous like Monero, kleptocratic governments will make sure your wallet is registered.

Dr. Doom also relived some other hits like price manipulation claims, pump and dump schemes, exchange hacks as well as ICO fraud as reasons why cryptocurrencies are worthless. Roubini debunked the assertion that virtual currencies represented an emerging financial system, instead, calling them an inefficient barter system that will never overcome the “trilemma of decentralization, security, and scalability.”

Dr. Doom v Vitalik Buterin Cryptocurrency Debate

In response, Buterin countered Roubini on many of his claims especially regarding the anonymity of cryptos providing cover for criminal activities. According to the Ethereum co-founder, any convenience  offered by cryptocurrencies as a payment means is enjoyed by all; whether for “unconventional activities” or otherwise.

Buterin: ‘There Are Definetely Some Real Concerns’

Buterin also chided Roubini’s skewered criticism which fails to take into account the many benefits of cryptocurrency adoption. The Ethereum co-founder pointed to the convenience of making international payments via virtual currency, as well as, the added benefit of cryptocurrencies being censorship-resistant.

As for the perceived inefficiencies in the technology, Buterin highlighted the continuous stream of technological advancements currently ongoing in the cryptocurrency and blockchain space. Commenting on cryptocurrency trilemma, Buterin opined:

There are definitely some real concerns but they’re an artifact of the tech as it exists in 2019, rather than inherent. The trilemma didn’t come with mathematical proofs. It is not impossible to have scalability and decentralization and security.

Facts Trump Sentiments When It Comes to Cryptocurrency

Some of Roubini’s criticisms come from a lack of understanding of the technology

Nocoiners like Roubini present Bitcoin to be this shadowy construct that allows criminals to carry out illegal activities with ease. However, the facts say differently.

Japan’s National Police Agency earlier in the year revealed that 98.3 percent of all recorded money laundering cases in the country for 2018 didn’t involve cryptocurrency. Intelligence agencies still report that terrorists have trouble adopting cryptocurrency to fund jihadist activities.

Danske Bank

Meanwhile, major banks like Danske Bank get indicted for money laundering to the tune of $325 billion. As reported by Bitcoinist, anti-Bitcoin banks have paid more than $240 billion in fines for money laundering indictments since the financial crisis of 2008.

Warren Buffett is another Bitcoin basher who has previously called the top-ranked cryptocurrency “rat poison.” Never mind that Berkshire Hathaway (owned by Buffett) has a ten percent stake in Wells Fargo, a bank with 93 violations and more than $14 billion in penalty fines.

Do you still pay attention to the opinions of nocoiners like Roubini? Share your thoughts with us in the comments below.


Images courtesy of Shutterstock, Bitcoinist archives, Twitter (@DecentralizedF and @inside_r3)

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Dub 02

Augur Prediction Market Platform May Have Design Flaws

An analysis of irregularities discovered in the Augur decentralized prediction market platform has identified a number of design flaws. Namely, it identified a potential attack vector based on discrepancies between a market’s expiry date and its outcome date.


How A Prediction Market Works

A prediction market would seem an ideal use-case for blockchain, harnessing the trustless nature and lack of centralized control. Augur uses the Ethereum blockchain, and allows an individual to create a prediction market based on any definable event.

The market creator defines the topic, end date, and potential outcomes, plus an adjudicator if so desired. Trading (denominated in ETH) continues until the event-end, at which point Augur token holders (or designated reporter) determines the outcome. Token holders stake their Reputation (REP) on the outcome and receive settlement fees.

Houston, We Have A Problem (or Two)

Aside from potentially-illegal markets, covering topics such as assassinations and terror attacks, there are some key fundamental issues.

Owing to its steep learning curve, many Augur users rely on various web interfaces, which offer non-standard features and are open to manipulation. In particular, many users gravitate towards markets which appear trustworthy to others. This creates a feeding-frenzy around the few markets with reported volume, which the market creator may well have manipulated.

Disputed outcomes go to a voting procedure, with users staking REP, and receiving rewards if they choose the winning outcome. This incentivises users to vote for the most popular outcome, regardless of whether it is the true outcome. On top of this, the validity bond, which is lost if a market is deemed invalid, remains fixed, so bad actors can continual create bogus markets.

Potential Attack Vector

A recent example of how this system can be manipulated, was based on the ‘general price of Ethereum’ at the end of the day on March 31st (UTC). The market expired at 01:59 on April 1st (UTC+8), which is before the outcome date, which could cause this contract to be deemed invalid.

By creating multiple outcomes, one of which was unrealistic (ETH over $1000), and one seemingly easy to achieve (ETH between $100 and $1000), it just required a bit of wash-trading to lure punters in.

The attacker would then send a limit sell order for the ‘easy’ outcome, for a quote which is above the reward for an invalid result, but below that of a supposed ‘good deal’. Thus users will fill the order, unknowingly being potentially stuck in an invalid market.

An invalid market results in an equal amount of ETH going to shares of each outcome. In a three outcome market (the final outcome being ETH < $100), each outcome would be marked at 1/3 value. With the majority of participants backing the ‘easy’ outcome, a disproportion return would go to the ‘unrealistic’ backers.

Fixing A Hole Where The Rain Comes In

Whilst Augur has already identified several of the concerns, there has been no official announcement of improvement implementation. Meanwhile, users are still exposed to this kind of attack.

Indeed, the same creator has already made a new market with the same flaw called ‘Ethereum Price at End of April’. There are also copycat markets springing up to catch users unawares.

Until these flaws are fixed, users should probable consider Augur, ‘buyer beware’.

Will blockchain-based predictions markets realize their potential? Share your thoughts below!


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Bře 09

US Regulators Should Give Bitcoin Some Breathing Space

The voices of a growing number of influential politicians and innovators are more loudly proclaiming the importance of preserving the United States’ supposed lead in the cryptocurrency industry. 


‘The US Cannot Afford to Lose Its Place as the Front-Runner in Crypto’

The importance of maintaining world technological supremacy is gaining momentum. In the United States, defenders of innovation and job creation are pushing for giving Bitcoin (BTC) and other cryptocurrencies some breathing space.

In this regard, Thomas W. Hodge, Senior Associate Attorney at Brock & Scott PLLC and founder of Crypto and Policy, argues that the US has always nurtured the growth of new technologies entering the market. “We foster its growth rather than stifle it with burdensome regulations,” he said, adding:

Today there are many new technologies on the horizon: artificial intelligence, autonomous vehicles and perhaps most importantly, cryptocurrencies and blockchain technology, which will change the way we conduct our lives — from banking to voting […] Simply put, the United States cannot afford to lose its place as the front-runner in crypto.

To this end, Hodge joins the congressman for Minnesota, Tom Emmer, in asking to not stifle free market competition and have government regulatory bodies to provide transparency on their regulatory intentions.

Hodge hopes for renewed leadership in the Congressional Blockchain Caucus and changes at the US Securities Exchange Commission (SEC). According to Hodge, these developments will encourage cryptocurrency companies “to continue to drive innovations in ‘fintech’ around the world.”

‘The SEC Must Open Its Doors to Innovation’

At the SEC, key officials are moving towards improving the treatment of crypto technologies. For some time, Commissioner Hester Peirce has been proposing to open the SEC to innovation and free enterprise. She complains:

[W]e regulate an industry that is a key gatekeeper for progress and productivity in the rest of the economy.

Specifically, Pierce calls for an innovative and improved regulatory framework that is more adaptable to the cryptocurrency industry.

As the 2020 U.S. presidential election approaches, crypto enthusiasts are eager to spot Bitcoin-friendly candidates and to know how their policies will foster innovation and entrepreneurship.

Already, one candidate has declared he will be accepting campaign donations in cryptocurrencies. Andrew Yang is a presidential candidate and proponent of a universal basic income. He recently announced that he accepts donations in Bitcoin, Ethereum, and any other cryptocurrency complying with the ERC20 standard, as well as Venmo payments.

Do you think the US government should foster the growth of the crypto industry to maintain technological supremacy? Don’t hesitate to let us know in the comments below! 


Images courtesy of  Twitter/@RepTomEmmer, Shutterstock.

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