Coinbase CEO Brian Armstrong is making a bold prediction about Bitcoin and cryptocurrency.

In a series of tweets, Armstrong says he believes that the stock market rout and the aggressive reduction in interest rates could boost the crypto industry in 2020.

A down stock market and interest rate cuts may lead to growth in crypto this year. Governments around the world are likely to look to stimulate the economy in any way they can, including using quantitative easing and expanding the money supply (printing money).

On Tuesday, the Federal Reserve announced that it will cut interest rates by 50 basis points. The development failed to stop the bleeding as both the Dow Jones Industrial Average and the S&P 500 fell nearly 3%.

Armstrong says Chinas expanding money supply could be the catalyst that boosts crypto and Bitcoin.

China has already done this, printing $173B. This may lead to a movement of funds into crypto, that are viewed as a hedge against inflation

This could be the year where the mindset of institutional investors begins to shift, from crypto as a venture bet, to crypto as a reserve currency.

Armstrongs sentiments run contrary to the prevailing wisdom from a number of industry leaders, including Galaxy Digital CEO Mike Novogratz, who recently said Bitcoin is not a hedge against global economic turmoil.

An October research paper from the cryptocurrency prime dealer SFOX may support Armstrongs theory. It found that Bitcoin could be viewed as a hedge in a select number of countries struggling with crippling inflation.

While Bitcoin has key attributes that may make it valuable as a hedge against macroeconomic factors in the future, its important to keep in mind that it remains today a highly speculative asset class that is extremely volatile. Bitcoin may be seeing some usage as a hedge against inflation in countries like Venezuela (which represents a unique case study) or against monetary policy, but were still a long way from widespread adoption.

Featured Image: Shutterstock/Tithi Luadthong

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Coinbase CEO Reveals Controversial Bitcoin (BTC) and Cryptocurrency Prediction With Major Shift Incoming - The Daily Hodl

Defiant developers behind a morbid cryptocurrency based on the number of victims falling prey to coronavirus have denied they are cashing in on death.

The mainly anonymous group which created the CoronaCoin a token claiming to be backed by proof of death say their project is designed to educate the public about the disease.

They even claim that 20% of all funds will be donated to the Red Cross and its efforts to assist in controlling the spread of Covid-19.

However, the brazen boasts of its links to the coronavirus mortality rate on the cryptos website have attracted huge criticism something the tokens bosses dismiss, saying their work is no different to a bond scheme run by the World Health Organisation.

The World Health Organisation currently offers an official pandemicbond, CoronaCoins Sunny Kemp told Coin Rivet.

Is that immoral? Just google WHO pandemic bond.

The group refers to the establishment of a common bond scheme among large financial institutions designed to mitigate the economic impact of global disasters.

While such bonds are often derided, economists the world over largely agree on the requirement for such financial back-up.

Few, however, would draw reasonable comparisons between the mitigation bonds and a cryptocurrency which burns tokens in accordance with how many cases of a potentially fatal virus are confirmed.

Insurance is also morbid, defends the developer one of several based across Europe who are running coronatoken.org.

We had no ICO, did not raise funds from the public, do not sell coins to the public directly, and actively airdrop free coins to our community.

Additionally, the fact that tokens can be traded on themarket is secondary to the purpose of this blockchain, and we are buildingDAPPs to educate the public about the spread of the virus.

The group says it has also made its first payment to the Red Cross, although this has yet to be confirmed by the international relief agency.

We are starting at one Ethereum per day and will go up from there asthe value of our token increases, the developer told us.

Despite the morally-questionable basis of CoronaCoin, its founders claim they have had an incredible response.

Backed by Proof of Death

Most people are fascinated by the idea of a Proof of Death blockchain, added Sunny Kemp.

We get a lot of questions about how it all works we arenearing 1,000 members in our Discord, over 600 Twitter followers, and577 Telegram members.

Discussing the rights and wrongs of basing a cryptocurrency supply on the number of cases and fatalities associated with coronavirus, the developer gave a blunt answer.

We anticipate a token burn of up to 80%, he said.

Apart from Coronacoinsutility in recording the virus on the blockchain, we also have tip bots, a game, and blockchain applications in thepipeline.

We believe these applications will ensure value long intothe future.

The latest information from the World Health Organisation places the number of infections as rapidly approaching 100,000 with more than 3,000 deaths linked to the virus.

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Coronavirus cryptocurrency creators claim theyre not cashing in on death - Coin Rivet

Today, as of March 2nd, 2020, ThreatFabric, an Amsterdam-based cybersecurity company, has released a report about a new threat to the crypto community, known as the Cereberus Trojan virus.

According to their report, Cereberus is capable of stealing two-factor authentication codes generated by the Google Authenticator app, which are used to secure online banking and email accounts, as well as cryptocurrency accounts on certain exchanges.

Cereberus was first identified in June of last year but has since become a more serious threat after being updated in mid-January of this year.

Once the virus is installed on a device, it is capable of downloading all content to a remote location, which can then be accessed by any number of fraudsters or criminals.

And whats more is that, amongst 25 other cryptocurrency exchanges, Coinbase, one of the worlds leading cryptocurrency exchanges, was also on the list of the Trojans main targets.

Like other types of malware, a Trojan virus is designed to undermine a devices or networks security functions.

The Cereberus virus works by stealing two-factor authentication codes (2FA) and giving them to whoever is behind the attack. On top of this, the virus is also able to steal PIN codes and swipe patterns from infected devices, giving the malicious actor access to any content present the device.

Cereberus is amongst the three other threats that have emerged recently aimed at some 26 cryptocurrency exchanges. Other than Coinbase, Xapo, Bitpay, Binance, and Wirex were also on the list of potential targets.

Fortunately, the best way to prevent a cyber attack on your crypto is to use a physical authentication key, as opposed to a digital key, which can be accessed remotely.The only way for a fraudster to gain access to a physical key is by actually gaining access to the device itself. Therefore, theres a significantly lower chance of an attack taking place.

AsCryptopotatorecently reported, $45 million worth of Bitcoin and Bitcoin Cash was stolen from a whale investor through a purported SIM attack.

This highlights the importance of taking security measures seriously. When it comes to larger amounts of cryptocurrency, its always advisable to keep it on a hardware wallet which is not connected to the internet. At the same time, its essential to keep your seed phrases and private keys safe.

Never store large amounts of cryptocurrency on an exchange and make sure to remember the popular phrase not your keys, not your Bitcoin. It applies to other digital currencies as well.

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Binance, Coinbase, And Other Cryptocurrency Exchanges Reportedly Targeted By A New Trojan Virus - CryptoPotato

SpaceX CEO Elon Musk has finally picked one out of the thousands of cryptocurrencies in existance and declared that it is the best. And it's not Bitcoin.

It's Dogecoin.

Dogecoin is a cryptocurrency that was invented as a joke by Jackson Palmer and Billy Markusbut it took on a life of its own. With the Japanese dog breed Shiba Inu as its mascot and an entire language built around the coin, "wow, such coin, many profit," it developed a cult following.

It's not the first time Musk has showed his love for Dogecoin. He previously changed his Twitter bio to reflect that he was the CEO of Dogecoin and once tweeted "throw a dogecoin to ur witcher" before deleting it shortly after.

Today, he first tweeted that "Dogs rock," with an image of a dog celebrating its birthday without any concept of numbers. Underneath it he added that dogs "have the best coin."

Musk has spoken about Bitcoin and cryptocurrency too but in peculiar ways. He once tweeted, "Cryptocurrency is my safe word," before later adding that, "Bitcoin is not my safe word."

He has also spoken about Bitcoin too, saying that it could be a replacement for cash in terms of enabling illegal activity. But that he doesn't see it becoming the main method of payment around the world. Perhaps that role is reserved for his favorite cryptocurrency. Wow.

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Elon Musk says Dogecoin is the best cryptocurrency - Decrypt

The involvement of North Korea in cryptocurrency has always been subject to speculation. A new report seems to indicate that the US wants to gain control of all digital assets tied to this country.

Various countries around the world are subject to sanctions.

These sanctions are imposed for a wide variety of reasons, including financial wrongdoings or other crimes.

In the case of North Korea, it is not difficult to see why these sanctions are put in place.

Bypassing and evading these rules has been a popular practice in certain regions.

Over the years, numerous reports have surfaced as to how North Korea is using Bitcoin to evade these sanctions altogether.

Domestic state-sponsored hacking groups have also been tied to attacks against South Korean exchanges and trading platforms.

The US is now taking this concept to a whole new level.

By actively suing to gain control of crypto assets is a very interesting move.

A total of 113 accounts have been identified, and may be forfeited in the near future.

As the funds in these accounts are obtained through illegal means, the outcome may be carved in stone.

That said, controlling the assets is a different matter.

This is very different from seizing a bank account, as cryptocurrencies have no centralized authority.

Image(s): Shutterstock.com

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North Korea may Have to Forfeit 113 Cryptocurrency Accounts - The Merkle Hash

Express News Service

NEW DELHI: Despite the Supreme Court ruling allowing trading in crypto-currencies, neither North Bloc nor most bankers are enthused by the new beast on the street.

A little over two years ago the government had warned citizens against investing in crypto-currencies terming them as `Ponzi schemes. That view seems intact in Finance Ministry where top officials still feel that virtual currencies issued by private firms are not legal tender and thus have no protection for investors if and when the bubble bursts.

Officials said RBI will have to now frame rules on crypto-currency trading in light of the apex courts order passed on Wednesday. Those who wish to take the risk and trade in crypto-currencies can then play it just as they would play any other games of chance, said Sanjay Bhattacharyya, former Managing Director of State Bank of India.

A top Department of Economic Affairs official pointed out these digital currencies are issued by private firms and not backed by any sovereign state. Their prices are arrived at through pure speculation and hence playing them will always remain akin to playing the Russian roulette.

ALSO READ |SC allows trading in cryptocurrency, quashesRBI's 2018 ban

In December 2017, the Ministry had through a statement warned there is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors (in virtual currencies), especially retail consumers losing their hard-earned money.

Lobbyists for cryptocurrencies have long been seeking some form of legal recognition. However, a cautious North Bloc has stalled pointing out that investments in crypto-currencies could be used to launder illegal or undeclared wealth and are really mere speculative trading.

Economists say to qualify as a `currency', whether issued on paper, coin or digitally, the money issued should represent a stable store of wealth, be backed by a Sovereign state which stands guarantor to its value and be generally acceptable. Digital currencies issued by private corporations fail on at least two counts by this definition point out analysts stable store of value and Sovereign guarantee.

Other than sovereign states, one of the few corporations which has in historical times issued its own currency was the East India Company and it did so after it assumed the status of a Sovereign power by taking over rich territories in India.

Economists point Even the Pacific island societies which issued cowry shell currencies in the past, issued them because a rudimentary state-backed those currencies.

Sometime back an inter-ministerial committee, in a report had recommended banning all privately circulated cryptocurrencies and imposing heavy fines and even jail terms for those dealing with unauthorized digital currencies.

The panel which included the then finance secretary S.C Garg however also asked the Government to keep an open mind on a possible official digital currency which could be launched by the Reserve Bank of India.

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Authorities still not convinced on cryptocurrency, feel it could turn into a bubble - The New Indian Express

March 4 2020 @ 13:42 by Steven Hugill

Having swapped the rolling Tynedale hills for the ever-shifting Dubai dunes more than two decades ago, James Hares thoughts have once again turned to home.

Not necessarily his old abode, but the fact that the UK has almost two million people registered as waiting to find a home and a Government facing up to a severe lack of social housing.

The least anyone living in a country as rich as the UK deserves is a place to live, said James, who has more than 20 years experience in property development, private equity and operating in international markets.

To come anywhere near addressing the current housing shortage, the Government must build over three million homes over the next 20 years, and even that doesnt help the people who are desperately in need of homes now.

I dont think Im alone in thinking that to get anywhere near this target, a radical re-think of the way affordable and social housing is currently being delivered is required.

And this is where BRIKCOIN comes in.

James developed BRIKCOIN to offer investors access to an easy in/easy out high-growth UK property investment, with no fees, no commissions and secured by ownership of the properties themselves.

We are developers, said James.

Our aim is to turn a profit and investors are no different. But this business model enables us to do that as well as act as a catalyst for a social housing rebirth, helping improve the quality of peoples lives by creating safe, healthy and sustainable communities.

BRIKCOIN is the first decentralised blockchain application dedicated to delivering 100 per cent genuinely affordable and social housing in the UK.

The business last year issued one billion tokens to potential investors on its platform and was released on global cryptocurrency exchanges on February 29.

It has become more than a business venture for James. Having worked for 20 years in the worlds of international finance and development, he backs the BRIKCOIN concept to not only stimulate housebuilding across the UK, but also revolutionise current investment models, making them quicker, simpler and more transparent.

Dubai may now be home, but James hails from a Tynedale family.

His father Rad is a councillor and served twice as town Mayor. The Hare family spent James early years in Nigeria, before returning to Northumberland, where he attended Mowden Hall School, in Stocksfield.

My first full-time job was in banking and finance in Dubai. I received an offer and travelled over on my own in 1997, to a place very different to what it is now.

I wanted the adventure of living and working abroad while building my own career, said James.

When Dubais freehold property market opened up, I structured project finance for residential and commercial projects, working with both international and regional banks. These were first of their kind structures for this region, where I was securing senior debt funding for foreign-owned development companies.

Based in Dubai for 22 years, James has developed affordable residential schemes, exclusive villa collections and commercial office towers in London, Dubai and Colorado, USA. His knowledge of structuring, recapitalising and driving projects to completion led him to creating his current vision and to the launch of BRIKCOIN.

Cryptocurrency represents a world of opportunity for investors, but we recognise that were going to have to overcome some misconceptions, mainly due to high-profile Bitcoin scams a few years ago, adds James.

Those were a lifetime ago in terms of the speed that technology is moving, but its what comes to mind for some when they think crypto.

However, many of the worlds largest companies are now integrating the blockchain into investment models and its advancement and adoption is moving far quicker than the internet 20 years ago.

BRIKCOIN utilises crypto as a new form of shares, but with the significant efficiencies the blockchain offers its fast, transparent, cost effective and liquid.

James said: We are matching future tech to accepted understanding of land and property.

BRIKCOIN is a second-generation crypto and has been established as a company built on solid ground with a highly experienced team driving itour ultimate aim is to be the UKs top community-focused affordable housing developer.

So, how will BRIKCOIN deliver the bricks and mortar to solve the UK housing crisis?

The model is relatively simple: the sale of BRIKCOIN will fund affordable housing schemes across the UK, working in partnership with local authorities.

BRIKCOIN retains ownership of, and management responsibility for, the properties, building a portfolio and increasing the token value.

Long lease guarantees from the local authority are then sold to financial institutions, such as the pension funds, with BRIKCOIN benefiting from a competitive profit.

BRIKCOIN will also generate revenues from fees associated with property development and facilities management.

James added: We believe everyone should have a home safe, clean and secure, a place to grow and live a happy and healthy life with your family. Thriving communities are our focus and our future.

BRIKCOIN will help address the UK housing crisis by delivering 100 per cent genuinely affordable housing.

And with the long lease agreements, everyone living in a BRIKCOIN home will have a home for life.

And the best bit? Through covenant, every propertywe build will remain affordable forever.

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Meet the Northumbrian using cryptocurrency to address the UK's housing crisis - North East Times