Russian Market

2022-04-27 21:03:33 MetaMask partners with MoonPay to make it easier for users to buy crypto with fiat

MoonPay, a crypto payments company, has partnered with MetaMask wallet. Non-custodial wallet users will be able to make payments using major credit/debit cards (including MasterCard, Visa, and Maestro) by integrating with MoonPay and adding fiat currency deposits. Additionally, users can use Google Pay and Apple Pay to purchase ETH and other assets, and bank transfers are available in more than 160 countries.

MoonPay is currently available in the MetaMask mobile app (v4.4) and will be available on the MetaMask browser extension (v10.13) in the coming days.

Residents of the states of New York, Texas, Louisiana, Rhode Island, Hawaii, and the Virgin Islands will not be able to use the new feature.

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2022-04-27 19:25:08 Central African Republic adopts Bitcoin as legal tender

Lawmakers unanimously adopted a bill that made Bitcoin legal tender alongside the existing CFA franc and legalised the use of cryptocurrencies. Thus, the Central African Republic (CAR) has become the second nation in the world to adopt Bitcoin as legal tender after El Salvador.

President Faustin Archange Touadera signed the measure into law. The CAR "is the first country in Africa to adopt Bitcoin as legal tender," said Obed Namsio, the chief of staff to President.

According to the World Bank, the Central African Republic is a sparsely populated country of 5.4 million inhabitants, around 11% of which have access to the internet. It is one of the poorest and most fragile countries despite its natural resources.

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2022-04-27 17:47:57 Arthur Hayes predicts Bitcoin to hit $1M by 2030

Former BitMEX CEO Arthur Hayes believes that Bitcoin could hit $1 million and gold could rise to $20,000 in eight years in a recently published blog post.

According to Hayes, Bitcoin's meteoric rise from nothing to a $1 trillion dollar plus asset created the so-called "HODL culture." HODLers will not sell their Bitcoin at any price, but rather spend fiat and save more Bitcoin.

However, Bitcoin, unlike gold, must be used to have value, since miners will no longer be able to generate rewards once all coins are mined. Hence, they will have to rely on transaction fees. If there is no transaction, the network hashrate will drop to zero, rendering Bitcoin worthless.

Hayes also expects that Bitcoin will "infect" the portfolios of sovereign countries, which will only increase the price of Bitcoin in the future. He forecasts that the virus will start spreading "exponentially," with El Salvador being the first real test.

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2022-04-27 17:23:13 What is driving gold

The yellow metal after briefly touching the $2,000 level is back down to $1,900, a support provided by its EMA so far. Gold's rally this year has been partly predicated on the view that the surge in commodity prices will make already hot inflation persistent.

However, that might no longer be the case as future growth is becoming uncertain due to multiple factors, notably, China's zero Covid policy, the conflict in Ukraine, and Fed's attempt to cool down the economy.

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2022-04-27 15:28:56 New York State Assembly passes Bitcoin mining moratorium

The New York State Assembly passed a two-year moratorium on Bitcoin mining, pending environmental impact measurement. The bill will now go to the Democrat-controlled State Senate for another round of voting.

Though the bill does not propose an outright ban on crypto mining, it would halt mining firms from renewing operating permits if those operations are fossil-fueled. According to the bill, this also means that new permits will not be approved either.

Since the bill only applies to permits for "an electric generating facility that utilizes a carbon-based fuel," at least some crypto miners in New York that use exclusively renewable energy would be exempt.

Currently, Bitcoin and Ethereum are the largest proof-of-work (PoW) networks in crypto. However, already in Q3, Ethereum will change to a more environmentally friendly proof-of-stake (PoS) consensus mechanism after its "Merge" upgrade.

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2022-04-27 12:27:19 El Salvador's Bitcoin experiment is failure, study reveals

According to a recent study by the National Bureau of Economic Research (NBER), an American nonprofit research organization, Bitcoin adoption has failed to take off in El Salvador.

The study found that 60% of citizens did not download the Chivo wallet app at all. More than 60% of those who downloaded the app did not use it after receiving the $30 signup bonus. 95% of users have never paid taxes in crypto through Chivo, and 89% of Salvadorans have never received remittances through the app (only 3% of the respondents received them in Bitcoin). 99% of citizens have never paid taxes with Bitcoin. More than half of the citizens did not use Chivo ATMs that were installed throughout the country.

Despite the fact that the authorities obliged the business to accept payments in Bitcoin, only 20% of firms added this option. Of those who did, 88% prefer to convert funds to dollars. Only 12% of such companies hold crypto.

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2022-04-27 11:55:05 Euro continues to dip

The euro is now at a five-year low against the dollar. The deterioration in Ukraine, the prospect of lower Chinese growth, and the fed's aggressive tightening tone are all presenting major headwinds to Europe's common currency.

Moreover, yesterday Russia, an major EU energy exporter, announced to stop deliveries to Poland and Bulgaria, a move that is increasing the risks of pushing the continent into recession. We can quite expect the pair to fall to 2016 lows, as March 2020 did not hold.

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2022-04-27 10:01:29 Market Overview

BTC price trades below $39K

The Top-10 are traded in red zone:
LUNA -8.1%
XRP -6.5%
ADA -6.1%

Market cap: $1.88T (-4.25%)
BTC dominance: 38.91% (-1.04%)
Fear & Greed Index: 21 (Extreme Fear) Open / Comment

2022-04-26 20:18:33 Texas city votes for city government to start mining Bitcoin

The City Council of Fort Worth, Texas, has unanimously approved BTC mining and will use three ASIC Bitmain AntMiner S9 rigs donated by the Texas Blockchain Council. This makes Fort Worth the first city in the US to mine its own Bitcoin.

The city estimated that each of the mining rigs would consume "the same amount of energy as a household vacuum cleaner," adding that the amount of BTC mined by the machines would offset the cost of operating them. NYDIG will custody the city's Bitcoin.

The city said it would evaluate the mining program in six months before deciding whether to continue.

The donated rigs are expected to generate between $2 and $3 per day, according to Minerstat.

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2022-04-26 17:29:44 Crypto not a way to 'opt out of inflation,' says Bank of Canada

During testimony before the House of Commons Finance Committee on Monday, Liberal MP Yvan Baker reportedly asked Bank of Canada governor Tiff Macklem and senior deputy governor Carolyn Rogers whether crypto could replace the Canadian dollar in the face of rising inflation in the country.

"I think if Canadians are looking for a stable source of payment and a stable source of value, cryptocurrencies don’t really meet that test. We don’t see cryptocurrencies as a way for Canadians to opt out of inflation or a stable source of value," Rogers replied.

Rogers added there was "some promise" in cryptocurrencies, citing the possibility of the tech bringing "more efficiency to payments" and more "competition to the financial sector."

Canada's inflation rate soared to a 31-year high of 6.7% in March, far more than economists were expecting and a full percentage point higher than February's already 30-year high.

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