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Bruno Le Maire: France One Step Ahead in Blockchain Revolution

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The recent G20 financial summit in Buenos Aires is currently the fulcrum upon which the future of cryptocurrency regulation balances, with financial leaders from the top 20 largest economies in the world announcing a July deadline for the implementation of new regulatory standards.

French Minister of Finance Bruno Le Maire, however, has taken a strong pro-crypto stance, highlighting the critical role cryptocurrencies are beginning to play in the world economy.

Le Maire published an op-ed on French finance platform Numerama earlier last week, announcing a bullish position on cryptocurrency and emphasizing the importance of blockchain technology to the future of France, stating that the country “will not miss the blockchain revolution.”

“France is one step ahead in FinTech. A revolution is underway, of which bitcoin was only the precursor. The blockchain will offer new opportunities to our startups, for example, with initial coin offerings that will allow them to raise funds through tokens.”

Tribune : Cryptoactifs, blockchain & ICO : comment la France veut rester à la pointe, par Bruno Le…

Dans une tribune que nous publions en exclusivité, le ministre de l’Économie et des Finances Bruno Le Maire donne sa vision du rôle de la France dans l’économie de la blockchain et des cryptomonnai…

Liberty, Equality, Fraternity… Bitcoin?

Le Maire has undergone an apparent rapid conversion to cryptocurrency proponent, pivoting from a cautious stance expressed late last year in statements made to French news channel LCI:

“There is evidently a risk of speculation. We need to consider and examine this and see how (…) with all the other G20 members we can regulate bitcoin.”

France is no stranger to revolution — Finance Minister Le Maire now appears to have adopted the potential impact of the blockchain revolution wholeheartedly, stating in his op-ed that widespread cryptocurrency adoption could potentially disrupt not only “daily practices in the banking and insurance sectors, financial markets, but also patents and certified acts.”

While Le Maire is explicitly positive regarding the impact of cryptocurrency on the global economy, the Minister has also highlighted the importance of regulation in the cryptocurrency sector, stating that “No consumer … or entrepreneur can carry out a transaction, can invest, or can develop a business in a regulatory vacuum.”

“We agree that crypto-assets can be very interesting for everyone. And we – obviously – are in favor of blockchain technology, which can provide very good support to financial assets in Europe or anywhere in the world. We are in favor of these technologies, but we want these technologies to be secure and therefore we need to define very clear measures for their regulation.”

G20 Adopts Progressive Stance on Cryptocurrency

Le Maire’s statements echo those of Spanish Economy Minister Román Escolano Olivares, who stated at the G20 summit that cryptocurrencies are “not a threat” to the global financial system:

“The general agreement we have reached, is that right now we cannot think that crypto-assets are a risk to global financial stability, but it’s a subject we need to actively monitor.”

market experienced a strong positive rebound on the 18th of March after the announcement of a more moderate stance toward crypto regulation from G20 watchdog chairman and Bank of England Governor Mark Carney.

The overall reaction of G20 financial summit members to the issue of cryptocurrency regulation has been demonstrably positive — while no concrete regulatory responses have been announced, pro-crypto sentiments expressed from leading economic influencers such as Le Maire and Olivares show that cryptocurrency regulation, when it does come, will be established with an appreciation for the revolutionary potential of distributed ledger technology.

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Decreasing trading volume and plateauing volatility sets stage for Bitcoin’s surge?

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As of November 17, 2019, trading volumes across major exchanges dropped to a 3-month low and it looks like it is going to continue dropping. Is it the calm before the storm? If yes, what could be in store – surge or a drop?

The interesting observation is that the trading volume started its decline on November 15 and rapidly declined to the current lows. For Coinbase, the poster child for crypto exchanges in the U.S., the volume declined from $185 million to $65 million. For Binance, the decline occurred from $1 billion to $517 million.

Coinbase Vs. Binance 

For Bitfinex, the trading volume dropped from $96 million to $39 million, whereas, BitMEX’s trading volume dipped from $2.9 billion to $905 million, a whopping 68% decline in BitMEX’s trading volume,

Bitfinex Vs. BitMEX

For all of the above charts, it is clear that the drop is the lowest seen in the last three months. The most brutal drop was seen with BitMEX which saw a 68% decline in trading volume. Following it was Coinbase with a 64% decline, Bitfinex at 59% and the least affected exchange among the lot was Binance with a decline of 48%.

A Look into Volatility

The volatility of Bitcoin hit a low of 2.5% on October 25 which was seen with a reaction from Bitcoin’s price which rose from $7,400 to $10,000 in a single daily candle. Since then, the volatility has plateaued near the 4% point for over 20 days.

The last time volatility moved sideways was after the April-pump when Bitcoin went from $4,100 to $5,600 in 30 days. Following this, the volatility dropped giving rise to more price surges. At present, the volatility looks like it will do something similar, causing a massive price movement. However, the direction in which BTC will move is still unknown.

However, looking at the price chart of Bitcoin, the price keeps forming lower lows on the daily time frame. The price is stuck inside a falling wedge pattern indicating a pump when it breaks out of the pattern. Moreover, the price has also tested the 0.786-Fibonacci level [$8,370] and seems to be supported by it. Disagreeing with the above is the Death Cross which has been clobbering the price and preventing bulls from taking control. This gives a 50-50 chance, meaning BTC could break out either way. However, one thing is sure, the breakout will be volatility induced move much like the one seen on October 25.

Source:ambcrypto

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Adoption: 5 Business Industries That Accept Bitcoin In 2019

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Bitcoin saw the light of day a decade ago, and since then, it attracted serious interest in the financial sector. Even though a lot of people use it mainly to get exposure to its price denominated in fiat currencies, there are a lot of businesses that accept Bitcoin as a payment method.

Traveling With Bitcoin

Back in 2013, the popular American travel agency Cheapair began accepting Bitcoin as a means of payment. This led to other companies implementing it as well, and now clients can use their bitcoins to book flights and hotels all around the world.

The cryptocurrency can be used to directly book a flight with Norwegian Air that also allowed it as a payment option earlier this year. Interestingly enough, the company is also reportedly looking into creating its cryptocurrency exchange.

People can also use Bitcoin to book certain hotels. For instance, a large Canadian group called Sandman Hotels started accepting BTC back in 2014. More recently, a Swiss luxury hotel, The Dolder Grand, announced that its clients could use the largest cryptocurrency to pay for their accommodation.

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Flying with Bitcoin

Entertainment & Sports

If you are into mind-boggling and adrenaline-boosting experiences, then chances are you have heard about escape rooms. Those real-life puzzle rooms where you have to solve a lot of mysteries and problems to get out of a specific space have become nothing short of accessible. Interestingly enough, there are many escape rooms that accept crypto as a means of payment.

On another note, a close variation of an online library, the Internet Archive, that includes vast loads of information, is also accepting donations in crypto. Some of the most popular ones include Bitcoin, Bitcoin Cash, Ethereum, Ripple, Zcash.

As CryptoPotato reported earlier this year, cryptocurrency adoption and usage continue with one of the most popular sports in the world – soccer. A famous Portuguese team, S.L. Benfica, allows its fans to use Bitcoin and Ethereum to purchase its merchandise.

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Soccer teams started accepting Bitcoin

Technology

Since Bitcoin’s idea is to be an electronic, peer-to-peer payment method, it’s only logical that online stores are among the first businesses to ever accept it. The tech giant Microsoft added the popular cryptocurrency back in 2014 for some of its products.

Since then, others were quick to follow in these footsteps. Overstock, the popular US-based online retailer, was among the first major stores to accept Bitcoin as a legitimate payment method. Those who want to purchase their electronics with crypto can do so with Newegg as well, which is a tech-focused online store.

The Food Industry

This is where things get a little bit interesting because it’s still somewhat uncommon to pay for your Sushi with Bitcoin. However, there are plenty of venues which would gladly take it. Clients can enjoy their favorite meals from pizzas to burgers while paying with their cryptocurrency assets.

Back in 2010, on May 22nd, a man from Florida called Laszlo Hanyecz paid 10,000 BTC for two large pizzas. This amount is currently worth millions, and it’s perhaps one of the most famous Bitcoin transactions in the relatively short history of the cryptocurrency. Of course, back then Hanyecz paid someone in Bitcoin just to order him two pizzas for his own FIAT but was also a way of spending your Bitcoins.

Whereas most of the information comes from fast-food chains and takeaways, Bitcoin, as a form of payment, has been recently added to other major outlets in the industry. Reports have it that the Amazon-owned Whole Foods are accepting Bitcoin in their stores as of this year.

Pizza Time
The most expensive pizzas in history

Automotive Industry

Lambo (from Lamborghini) is a term often used in the cryptocurrency community when describing a possible price surge. The question “When Lambo?” is perhaps one of the most commonly used ones within the community. However, it turns out that  Lamborghini dealerships have seen an increased number of transactions involving cryptocurrencies, especially around the 2017 parabolic price boom.

Some venues allow for the most significant cryptocurrency to be used to purchase impressive models from carmakers like Aston Martin and Ferrari. Still, clients can also choose classic cars, as well.

Furthermore, using Bitcoin for car purchases spreads beyond just supercars. Numerous local dealerships, as well as giants in the automotive game,  have adopted it as a payment method.Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.

Source: cryptopotato.

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Alibaba Denies Working With Bitcoin (BTC) Company or Support for Crypto: Report

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Contrary to an announcement made by Bitcoin cashback company Lolli, e-commerce giant Alibaba says it has no partnership with the platform.

Lolli announced on China’s Singles Day that its app now allows Alibaba shoppers to earn Bitcoin rewards.

According to a report by CoinDesk, however, Alibaba representatives are denying the partnership. Additionally, Alibaba clarifies that it does not support payments in BTC.

An Alibaba representative tells CoinDesk,

“One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate marketing program with Lolli. This was done without the knowledge of Alibaba.com. Alibaba.com’s contractor is terminating the relationship with the subcontractor who was working with Lolli. As a result, Lolli should no longer promote or bring traffic to Alibaba.com.”

Lolli’s head of communications, Aubrey Strobel, says Alibaba.com trialed the platform for 24 hours during the Singles Day campaign which drew attention as shoppers broke records and the day’s marketing event, an entertainment extravaganza featuring Taylor Swift, sparked global attention. Shortly thereafter “the partnership” was deactivated.

In a statement reviewed by CoinDesk, Strobel writes,

“It seems as though there was a miscommunication on Alibaba’s end and while that’s unfortunate, we look forward to the possibility of working with Alibaba.com again in the future. In the interim, Alibaba Group’s AliExpress is still live on Lolli.”

In the days following Singles Day, China is showing signs of renewing its crackdown on Bitcoin and cryptocurrencies. While President Xi Jinping has embraced blockchain in addition to removing cryptocurrency mining from a list of banned activities, rolling out mobile app lessons about Bitcoin and calling BTC the first successful use case of blockchain, the country’s anti-crypto stance has not entirely faded. It remains complex.

The Weibo accounts of leading cryptocurrency Tron and trading platform Binance were recently blocked for violating community regulations as China is rolling out new directives that are designed to squash the speculative trading of cryptocurrencies.

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