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Cardano Founder, Charles Hoskinson Said “I Think It’s About Time We Get A Rally Going In Washington Dc” As Senate Rejected Amendment To Infrastructure Bill

Albert Brown
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Cardano Founder, Charles Hoskinson Said “I Think It’s About Time We Get A Rally Going In Washington Dc” As Senate Rejected Amendment To Infrastructure Bill

The Cardano creator is urging his followers not to give up after a major blow in the U.S. Senate.


After the U.S. Senate failed the cryptocurrency industry, IOHK CEO Charles Hoskinson is now willing to take it to the streets.

The Cardano creator has tweeted about making phone calls to organize a rally in Washington D.C.

“I think it’s about time we get a rally going in Washington DC. I’m going to make some phone calls. More on this later.”

 

He said in his latest video:

“Just watched live the senate, it was a really tense moment, listen to senators speaking how badly this bill can damage the crypto industry.

Everyone for the last few days has been calling their senators,  Knocking down doors, getting to a point that we need to be pass the amendment. Then on the floor a 87 year old man (Senator Richard Shelby) that i don’t even think knows how a computer works, objected the amendment.

These senators, these 87-year-old living fossils, showed the entire world that they were willing to sell the future of our country’s economy out, if they didn’t get their pork.

I remembered Richard Nixon said the greatness comes not when things go always well for you, but the greatness comes when you are really tested. So we are not out of fight, we are not done, we are still here, we as industry came together and each and every one of you fought. So we are not going down that easy.

We must get louder, we must push, even if this bill passes, this does not get into effect until 2023, but lets start pushing for new legislations, I am not going to give up. i will rally a tired less minority ever single day to make this their issue until we change this, until we get this done. Because at the end of the day i am an American, i live in America, i am not moving anywhere. I am not go to find a golden visa in Greece or UAE. I am born here and i am going to die here. And i want this country to be better. 

I have no intention of living in a dying empire, and every other American listening feels the same way, so we cannot allow some 87 year old, aged passed, to stand in the way of progress of this nation so we need to work together.”





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Vechain Price Prediction: Vechain Targets China Pet Food Market As VET Price Is Looking For Major Upswing

Albert Brown
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Vechain Price Prediction: Vechain Targets China Pet Food Market As VET Price Is Looking For Major Upswing

In our previous Vechain price analysis we mentioned that Vechain was waiting for a Golden cross to happen for a strong price increase. The bullish Golden Cross displayed on the six-hour VeChain chart, occurred When the 50 six-hour SMA crossed over the 200 six-hour SMA. The golden cross on 6H chart helped Vechain for a 30% price increase.



VET is currently consolidating at $0.106 in the middle trading range. Vechain is now targeting China’s pet food market as a further step to adoption. If any new partnership is announced with China pet food companies, then Vechain price can explode as overall market is bullish.

As bullish momentum has slowed a bit, the sideways Vechain price movement could result in a breakout in any direction but investors can expect gains due to the overall positive market structure.

China Pet Food Market

VeChain aims to standardize variables in China’s pet food market. This market is dominated by counterfeit and substandard products.

VeChain plans to revolutionize the $1.1 Billion market through blockchain technology. The entire lifecycle of the product will be incorporated into blockchain. This includes traceability of the entire value-chain, as well as proof of origin and proof of ingredients.

Vechain foundation Said:

“VeChain, the world’s leading public blockchain provider aims to revolutionize pet food traceability, safety and marketing by providing multiple layers of benefits through its full services across the entire lifecycle of the supply chain.

Already, VeChain has engaged with multiple companies in the pet food industry, and many of them have expressed interest in blockchain technology to solve the aforementioned problems and pain points.”




VET Price Analysis:

VeChain price jumped 98% between July 20 and August 8, peaking at $0.11. The Momentum Reversal Indicator, (MRI), gave a sell signal with a red “one” candle on the 12-hour chart. This indicated that a decline was possible. So Investors can expect VET to return to the support of $0.095. This will relieve the pressure on VET and allow  buyers who are willing to buy VET at little discount to join the party.

vechain price prediction 10-08-2021

This resulting uptrend will likely cause the VeChain to surpass the 50% Fibonacci Retracement Level at $0.106. A decisive 12-hour candle close above $0.106 will confirm a renewed rally. Market participants can expect VET rise to $0.115 and then $0.121.

The bullish thesis would be disproven if the swing low at $0.0824 is broken.

If there is a decline the first support is present at $0.095. Breaking this support will signal weakness among buyers and could enable the bears break the next level of $0.0902.

FTX US

Large Buyers are expected to move in at $0.0902, but a further downside movement and a break below $0.0824 would be a setback for bullish sentiments and open the door to further declines.

AMC, The Biggest Cinema Chain Worldwide With 1004 Theaters, 11,041 Screens To Start Accepting Bitcoin

Mark Brennan
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In an earnings call on Monday, AMC Entertainment CEO, Adam Aron stated that the theater chain will be able to accept cryptocurrency payments by the end of 2021.


AMC Entertainment announced Monday that it will accept bitcoin for payment for movie tickets and concessions at all U.S. theatres.

It is not clear how AMC will enable Bitcoin payments.

Reddit meme stock mania may have influenced the company’s decision to move to crypto.

Earlier this year Reddit fueled meme stock mania led to an increase in AMC stock after it became the target of short-sellers.

Aron asserts that many retail traders who trade in stocks also love cryptocurrencies.




The company is also looking at “other blockchain options” in addition to Bitcoin.

Pre-market trading saw AMC shares rise 3.36 percent on the news of Bitcoin integrations as payment method.

AMC is the biggest cinema chain worldwide with 1,004 cinemas, and 11,041 screens.

In March, the company was able to reopen its theaters in New York and California, which are its most lucrative markets.

After Senate Rejected Amendment To Infrastructure Bill, Twitter CEO Jack Dorsey Said: “Bitcoin Will Unite A Deeply Divided Country And Eventually World”

Mark Brennan
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After Senate Rejected Amendment To Infrastructure Bill, Twitter CEO Jack Dorsey Said: “Bitcoin Will Unite A Deeply Divided Country And Eventually World”

Jack Dorsey (CEO of Square and Twitter) said that Bitcoin would eventually unite the country and the world.


The amendment to Senate Infrastructure bill led by Senators Pat Toomey, Cynthia Lummis, and Rob Portman was rejected. Soon after, Dorsey tweeted:

“Bitcoin will unite a deeply divided country. (and eventually: world)”

 

A cryptocurrency industry-backed amendment that exempted non-custodial crypto actors from the crypto tax reporting obligation was rejected by the Senate.

The amendment failed, after Senator Richard Shelby attempted to tie $50 Billion military infrastructure spending to it.

Senators Pat Toomey, Cynthia Lummis, and Rob Portman spoke in support of the compromise amendment and so did Senator Ted Cruz, who many predicted would vote against it.




According to Jerry Brito of CoinCenter, while the Senate battle is over, the cryptocurrency lobby will now channel their resources towards the House of Representatives.

He said:

“The bad news is that the amendment did not receive unanimous consent, so it will not make it into the bill.

The good news is we’re not giving up. Next stop is the House where we can try to get a whole new amendment from scratch that can address all our concerns.”

 

The outcome of all the Senate fuss was that crypto community was united, they backed the amendment, Microstrategy CEO, Michael saylor, Cardano founder, Charles Hoskinson and many other founders and influencers came forward to support the amendments. Congress should have known that crypto is a strong united community.

Therefore Jack Dorsey said that Bitcoin will unite the country and eventually the world.

Dorsey has been preaching Bitcoin for long time. He opened a new Square business unit called TBD. He even suggested that Bitcoin would become the “single currency” in the next 10 years, and Jack may soon allow people to purchase Twitter ads with BTC.

How To Monitor The Amount Of ETH Burned And Track Ethereum EIP 1559 Effects On Regular Basis

Mark Brennan
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How To Monitor The Amount Of ETH Burned And Track Ethereum EIP 1559 Effects On Regular Basis

These easy-to-use tools allow users to monitor the EIP 1559 effects on regular basis.

Read: Vitalik Buterin: “The London Upgrade Is Proof That Ethereum Ecosystem Is Able To Make Significant Changes, Which Makes Me More Confident About The Merge”


Ethereum enthusiasts are optimistic about early effects of London’s hard fork. The burning of Ethers is increasing at an alarming rate, and crypto novices can now follow the process 24 hours a day.

To track the impact of EIP 1559, several monitoring tools were released. One of them is ETH Burn bot that provide updates after every hour.

ETH Burn bot displays the most important metrics about the Ethereum burning process. Number of ETH burned in last hour. It shows the number and percentage of ETH coins that were destroyed during the past year, as well as the amount of Ether created (mined) during the same period. The bot also calculated the annual increase or decrease in Ether supply.





The burned Ether bot is another automatic tracking bot that displays the current base fee, average miner tip as well as the total amount of ether burned and its value in US dollars.

 

Ethereum enthusiasts can also use https://ethburned.info/ that shows the total amount of ETH that has been destroyed over the past hour, day, minutes or per block with the aid of a chart.

 

Senator Ted Cruz: “Crypto Got Screwed Tonight As Dems Objected To ALL Further Amendments In Infrastructure Bill”

Mark Brennan
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Senator Ted Cruz: “Crypto Got Screwed Tonight As Dems Objected To ALL Further Amendments In Infrastructure Bill”

While senator Cynthia Lummis vows to keep fighting for a favorable crypto amendment, there may not be enough time left to pass it.


Senate Majority Leader, Chuck Schumer is now drawing the ire of the cryptocurrency community after blocking attempts to vote on any further amendments to the infrastructure bill.

Senator Ted Cruz claims the cryptocurrency just “screwed up”, adding that the continuation of the original legislation could potentially wreak billions of dollars in damage to the crypto industry.

Ted Cruz said On Twitter:

“Crypto got screwed tonight.

There’s a partisan disagreement on spending, so Dems objected to ALL further amendments.

That means NO vote on Wyden-Lummis to lessen the damage this bill will do to crypto, & NO vote on the Cruz amd. to repeal the new crypto rules altogether.

The result?

The Senate’s going to inflict billions of dollars of damage on the growing & exciting crypto industry & drive much of it overseas.

There aren’t 5 Senators who understand much of anything about crypto.

What the Senate said tonight: Let’s tax the hell out of something we know nothing about, so we can pass a giant bill we haven’t read, and spend the American people’s money on stuff we can’t afford.

It’s reckless & harmful.”

While negotiations appear to be still underway, Jerry Brito, chief executive of the Coin Center, says there is only a small chance that the restrictive language of the bill will change.




US Insfracture Bill, A Real Worry For Crypto Community:

Crypto industry faces a larger problem in the shape of infrastructure bill. US Congress is currently looking for ways to fund an infrastructure bill, which aims to strengthen national railways, tunnels and bridges. One way to raise funds is to close loopholes that permit cryptocurrency holders to dodge taxes. 

Officials complain that crypto transactions can evade taxes because of weak reporting standards. Digital assets such as Bitcoin are considered assets by the IRS, meaning that each transaction is subject to capital tax.

The Senate bill contains a provision that aims to raise taxes by $28 billion by forcing more companies to collect tax information. According to IRS officials, additional tax information will help track cryptocurrency earnings.

On Wednesday, Sens. Ron Wyden, D-Ore., Pat Toomey, R-Pa., and Cynthia Lummis, R-Wyo, introduced an amendment that drills down on the definition of a “broker,” explicitly excluding validators, hardware and software makers as well as protocol developers. It would be a win for the crypto caucus, should it pass.

In the other camp sits Sens. Rob Portman, R-Ohio – who drafted the original tax provision – along with Mark Warner, D-Va. and Kyrsten Sinema, D-Ariz. They submitted their own rival amendment on Thursday. Their proposed amendment remove miners and sellers of hardware and software wallets from the bill. However, the wording of the amendment suggests that crypto developers and proof-of-stake validators will continue to be subject to extended reporting and taxation.

The crypto friendly Senators may not simply have sufficient time since a vote on the amendment must be held by Tuesday morning.

Cardano Gets More Close To Launching Smart Contracts By Announcing Alonzo Purple Testnet Which Is The First Public Testnet

Mark Brennan
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Cardano Gets More Close To Launching Smart Contracts By Announcing Alonzo Purple Testnet Which Is The First Public Testnet

Cardano’s Alonzo testnet has entered into the “Purple” phase, according to a Friday announcement made by research and development company IOHK.


IOHK Writes:

“This is an exciting and important next step in the Alonzo journey. In fact, the Cardano journey. With the support of our OG community testers on the Blue & White phases, AlonzoPurple will be the first fully public Cardano testnet to support smartcontracts.

It’s an important moment, marking significant progress in the rollout of smartcontracts on the Cardano mainnet which is targeted for the end of August/early September.

So Alonzo progress is very good. We still have a way to go. We expect more bugs and may yet encounter bumps in the road. That is what a testnet is for. And there is still plenty of integration, testing and ongoing optimization to go.

But we’re on track and feeling good. And we have an incredible Cardano behind us, alongside us and cheering us on And a truly exciting future, just around the corner.”

The new stage—which was preceded by “Blue” and “White”—marks a major step to launching smart contacts on the largest proof-of-stake blockchain.





The Alonzo Purple testnet is fully public, which means that all members of the Plutus pioneer program, all stake pool operators and exchanges can participate.

For comparison, Alonzo Blue and Alonzo White were limited to 50 users and 500 users, respectively.

Cardano will begin the systematic onboarding of cryptocurrency exchanges, according to IOHK CEO Charles Hoskinson.

IOHK Writes:

“We have already been engaging with a number of exchanges on AlonzoWhite. With AlonzoPurple we’ll broaden this further, adding more exchanges. This integration work – being driven by a CardanoStiftung integration team led by Mel – is crucial to success.”

Coinbase Adds ApplePay As Another Method To Buy Crypto, And Announced To Integrate GooglePay This Fall

Mark Brennan
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Coinbase Adds ApplePay As Another Method To Buy Crypto, And Announced To Integrate GooglePay This Fall

Coinbase announced yesterday, August 5, that it now accepts Apple Pay payments. It means that customers can use Apple Pay to purchase crypto coins on Coinbase. 


Coinbase Blog Writes:

“Fast, familiar, and secure ways to move money in and out of Coinbase are key to bringing more people into the cryptoeconomy for the first time. Today we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and instant cashouts up to $100,000 per transaction available 24/7.”

Although Google Pay isn’t yet available on the Coinbase exchange, integration of this payment method will be coming soon on Coinbase so Google Pay users won’t have to wait longer.

Coinbase Blog Writes:

“And later this fall you’ll be able to buy crypto with Google Pay.”

Coinbase users can now buy cryptocurrency with a Visa or Mastercard debit cards linked to Apple Pay.

Apple Pay automatically appears as a payment method for cryptocurrency purchases made using Coinbase on an iOS device or Safari browser that are linked to an Apple Wallet.

Instant withdrawals up to $100,000 per transaction are possible on the exchange, which is available 24/7.




Coinbase claims to be the first cryptocurrency exchange that offers instant payouts through Real Time Payments (RTP). This allows US customers with linked bank accounts to immediately and securely cash out up $100,000 per transaction without any withdrawal limits.

Instant RTP withdrawals are a fast and easy way to withdraw your money 24/7 without incurring any hidden fees.

Coinbase US customers can purchase crypto using a connected bank account via wire transfer, ACH, or debit card. They can also use funds from their Coinbase USD wallet or funds from a linked PayPal account or linked Visa or Mastercard debit card to Apple Pay.

Binance Is No More Offering Derivative And Future Trading Services For Its Hong Kong Users

Mark Brennan
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Binance Is No More Offering Derivative And Future Trading Services For Its Hong Kong Users

Hong Kong users won’t be able use derivative products on Binance. Recently Binance banned users from Germany, Italy, and the Netherlands from using its derivate products.

Read: Binance Stops Crypto Futures Trading Services Across European Countries


Binance ban on Hong Kong users is to protect new users, but it seems that the ban is more in line with Chinese crack down on crypto business.

Binance Writes:

“We believe it’s an important step for building local relationships and establishing our industry for the long term.

The ongoing development of our industry’s regulatory framework poses an opportunity for greater collaboration between the industry and regulators.

Binance is committed to working constructively in policy-making that seeks to benefit every user.”

 

Binance CEO said:

“Binance pivoting from reactive compliance to proactive compliance. 

New Binance users from Hong Kong can no longer open futures accounts and we will wind-down access for existing users.

This is one of many proactive measures Binance is taking to help establish crypto compliance best practices worldwide.”




Binance CEO Aims To Make Binance Regulated Worldwide. Changpeng Zhao, Binance CEO and Founder, stated that Binance will work with local regulators in order to establish Binance regional headquarters.

In response to regulatory pressure, Binance has made several changes in recent weeks. After being warned by the Hong Kong Securities and Futures Commission, Binance pulled tokenized stock trading from its platform in July. Binance also announced that it has stopped futures and derivatives trading across Europe.

The exchange also reduced the daily withdrawal limit for non verified accounts also reducing Leverage Trading Limits. 

Read: Binance CEO Aims To Make Binance Regulated Worldwide, Also Daily Withdrawal Limit For Binance Unverified Accounts Reduced And Binance Leverage Trading Limit Reduced

Xiaomi That Recently Overtook Apple In Smartphone Market Now Accepts Bitcoin Payments In Portugal

Albert Brown
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Xiaomi That Recently Overtook Apple In Smartphone Market Now Accepts Bitcoin Payments In Portugal

The Portuguese branch of Xiaomi has begun accepting Bitcoin and other cryptocurrency payments.


Mi Store Portugal, official Xiaomi retailer, announced on Facebook that customers can now purchase Xiaomi devices using five cryptocurrency options, including BTC, ETH, USDT, Dash, and the Utrust token (UTK).

This new payment option was made possible by a partnership with Utrust. 

Users can now buy smartphones, vacuum cleaners, smart watches, electric scooters and other stuff with Bitcoin, Ethereum and other crypto on Xiaomi Portugal.

 





Pedro Maia, the head of marketing at Mi Store Portugal says that Xiaomi, which recently overtook Apple in the smartphone market, aims to live up its promise of “innovation for all” by moving into crypto.

He said:

“We are a technological, innovative and disruptive brand. That’s why we always want to be one step ahead. We want to give the possibility to all true technology fans to buy their favorite gadgets with what is currently “the most technological money.”

It is not surprising that Xiaomi has picked Portugal for digital asset payments given that Portugal is considered to be the most crypto-friendly nation in Europe because of its tax policy.

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