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Marvin again accepting bitcoin, meaning you can order takeaways in 18 counties

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It’s still relatively rare to find individual places in Ireland that accept crypto for payment, but some time ago Marvin, a competitor to Just-Eat offering takeaway food delivered to your house, had accepted bitcoin (and we reviewed this process) . However it was short lived, and during early 2017 the removed the ability to pay with bitcoin around the same time that the bitcoin network was flooded with hundreds of thousands of unconfirmed transactions. But no more, as when using the site recently, I noticed that the bitcoin payment option is again re-enabled on the site. So what this means Source: https://bitcoinsinireland.com/marvin-again-accepting-bitcoin-meaning-you-can-order-takeaways-in-18-counties/

Blockchain

Chinese consumers spend 8.8 million in digital yuan during the first week of trial.

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Chinese consumers spend 8.8 million in digital yuan during the first week of trial. – Coinnounce




























In the first week of trials, consumers in China have spent over 8.8 million yuan to test the feasibility of China’s central bank digital currency.

Consumers in China have spent over 8.8 million yuan in the first week of trials held to test the feasibility of China’s central bank digital currency. This was one of the largest trials of its kind to be conducted in the country so far. Citizens of Shenzhen in China participated in the trial, which saw them turn to the as-yet-unreleased digital currency for payments in a variety of everyday settings. 

Over 1.9 million applicants reportedly participated in the trial. 

According to the South China Morning Post report, over 1.9 million applicants reportedly applied to take part in the trials, with in excess of 47,000 consumers ultimately participating in the program. Those selected to take part in the trial were awarded packets of 200 digital yuan for use at supporting outlets, with some 62,000 individual transactions conducted over the trial duration. The more recent round of trials in Shenzhen took the total spending in China’s digital currency to over $1 billion so far, with the central bank and state authorities keen to extensively trial the technology before any larger scale roll-out.

Central banks around the world continue to show interest in CBDCs. 

The news confirms China’s position as a global leader in central bank digital currencies, with reports suggesting the Asian country remains ahead of other major central banks in developing a national digital currency. China might be ahead in developing a CBDCs, but it is not the only country to explore the subject. Many countries are showing an increasing interest in CBDCs. Earlier, the U.S. Federal Reserve chairman, Jerome Powell, suggested the United States was waiting to get the right proposals in place, rather than becoming the first to launch in regard with a CBDC. Several other major central banks, including the Bank of Japan, the Philippines’ central bank, are working on a CBDC. 

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Jai Pratap

Jai Pratap

A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.


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Source: https://coinnounce.com/chinese-consumers-spend-8-8-million-in-digital-yuan-during-the-first-week-of-trial/

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TA: Ethereum Stuck Below $410, Why It Could Correct Sharply Below $400

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Ethereum is struggling to gain momentum above $410 and $420 against the US Dollar. ETH price might start a strong downside correction if it clears the $400 support.

  • Ethereum is facing a couple of major hurdles near the $410 and $412 resistance levels.
  • The price is currently holding the $400 support and the 100 hourly simple moving average.
  • There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a sharp downside correction below $400 if it stays below $412 for too long.

Ethereum Price is Facing Hurdles

Ethereum failed to set a new monthly high above $420 unlike bitcoin against the US Dollar. ETH price seems to be facing a couple of major hurdles near the $410 and $412 resistance levels.

The last swing high was near $418 before the price declined below the $410 support. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD. However, ether price remained well bid above the $400 support and the 100 hourly simple moving average.

A low is formed near $403 and the price is currently consolidating in a range. There was a break above the $405 level, but the price is facing a strong resistance near the $410 level. It is also close to the 50% Fib retracement level of the recent decline from the $418 high to $403 low.

Ethereum Price

Source: ETHUSD on TradingView.com

The next key resistance is near the $412 level or the 61.8% Fib retracement level of the recent decline from the $418 high to $403 low. If ether clears the $410 and $412 resistance levels, there are chances of a strong increase.

The next major resistance is near the $418 swing high and $420. A successful close above the $420 level might open the doors for a sharp increase in the coming sessions. The next stop on the upside could be near the $432 level, followed by $435.

Downside Break in ETH

If Ethereum fails to clear the $410 and $412 resistance levels, there is a risk of a fresh drop. The first major support is near the 100 hourly simple moving average and $405.

The main support seems to be forming near the $400 level. A continuous failure to gain traction above $410 might even result in a sharp decline below the $400 level (the last key breakout zone).

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly moving in the bullish zone.

Hourly RSIThe RSI for ETH/USD is just below the 50 level.

Major Support Level – $400

Major Resistance Level – $412

Source: https://www.newsbtc.com/analysis/eth/ethereum-stuck-below-410/

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$FARM down by 70% as Harvest Finance faces ‘economic attack’

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A few hours ago, reports from users on Harvest Finance’s Discord channel claimed that they had lost 10-15% trying to unstake fusdc, with many in the community soon voicing their concerns about a potential rug pull.

In fact, $FARM was down by over 70%, at the time of writing. With over $500 million at risk, hackers/ruggers are reportedly moving funds into renBTC and attempting to sell it off.

Source: Autism Capital

In fact, according to a few community members, funds have also been sent to Tornado Cash to be laundered.

In fact, at the time of writing, a clearer picture wasn’t available, with many confused about whether this is a Harvest issue or a Curve issue. However, Harvest Finance did confirm that something was going on after it released a statement announcing an “economic attack,” adding that the team is actively working on mitigating the attack on stablecoins and BTC pools.

The economic attack in question was performed through the curve y pool, stretching the price of stablecoins in Curve out of proportion and depositing and withdrawing a huge amount of assets through Harvest. The protocol added,

“To protect users, we’ve pulled Y pool and BTC Curve strategy funds to the vault.”

At this stage, 100% of all stablecoin and BTC Curve strategy funds have been withdrawn from the strategy and deposited into a vault. Further, no other pools are said to have been affected by this attack.

Harvest also released a statement claiming that their next steps to protect users include a move to block deposits to the Stablecoin and BTC vault, while existing deposits will continue to earn $FARM. Finally, after claiming that the 7-minute attack originated following a huge flashloan, the protocol tweeted,

“The attacker sent back $2,478,549.94 to the deployer in the form of USDT and USDC. This will be distributed to the affected depositors pro-rata using a snapshot.”

The aforementioned revelation was greeted by mixed feelings by many in the community, with Riccardo Spagni commenting,

“The attacker” sent some funds back because they’re such nice people. If this isn’t strong evidence that “the attacker” and “the devs” are the same then I don’t know what is.”

Interestingly, according to Chris Blec, $2.5 million worth of stablecoins were transferred into Harvest Finance’s anon developer admin key address from the hackers’ exploit contract.

Source: https://eng.ambcrypto.com/harvest-finance-economic-attack

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