Bitcoin Hater Charlie Munger Accidentally Makes a Case for Crypto

By CCN: Charlie Munger, a 95-year-old billionaire investor and Warren Buffett’s partner at Berkshire Hathaway, expressed concern over the rate at which money is printed by democratic governments. Ironically, Munger, a skeptic of bitcoin, may have accidentally pointed out the merits of the dominant cryptocurrency. Charlie Munger Hates Bitcoin But Fears the Problem It Intends to Solve Buffett Bro: Bitcoin ‘Dementia’ Patients Worship Judas Iscariot https://t.co/avf6SuPZ74 — CCN.com (@CCNMarkets) May 5, 2019 Speaking to CNBC’s Becky Quick alongside Warren Buffett, Munger said that he is concerned by the ability of…

HBUS Hires Tech and Financial Services Veteran as VP of Product and Technology

HBUS, the operator of United States-based crypto exchange Huobi.com, has announced the appointment of technology and financial services veteran Oren Blonstein as its vice president of product and technology. The development was revealed in a press release shared with Cointelegraph on May 7. As previously reported, the Huobi.com marketplace first launched under the name of HBUS in June 2018 as a strategic partner of Huobi Group — operator of the flagship Huobi Global crypto exchange, currently ranked 19th largest by daily adjusted volume globally. According to the press release, Blonstein…

Homeland Security Warns Bots Are Exploiting Decentralized Crypto Exchanges

The U.S. Department of Homeland Security has warned that arbitrage bots are exploiting “inefficiencies” in decentralized exchanges (DEX). Citing recent research from Cornell Tech, the department said on Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.” In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the agency said. According to the article: “Like high-frequency traders on Wall Street, these bots exploit inefficiencies in…

Chinese Authorities Probably Want to Exploit Blockchain to Monitor Citizens

By CCN.com: In modern times, China has worked to consolidate state power over individuals. Local authorities are trialing systems to control peoples’ social standing, access to jobs, and even where they can go. Until now, one refuge for its citizens has been in the wooliness of time; not even the all-powerful Communist party can always measure where people go, when, and what they do. But, with a state-mandated blockchain, this could begin to change. Those inside China will be aware of the fate that awaits Bitcoin and other major cryptocurrencies;…

Bitcoin Price Eyes Break Above $6,000 Ahead of New York Blockchain Week

View Bitcoin’s quick recovery from levels below the former resistance-turned-support of $5,627 (April 23 high) seen on Monday, coupled with a break above the stiff resistance at $5,780 (June 2018 bottom) seen today, indicate fairly strong bullish sentiment. BTC looks set to breach the psychological hurdle of $6,000, as suggested by April’s bullish close, and may rise to $6,200 in the next few days. The bullish case is backed by a diamond breakout on the 4-hour chart. Bulls still need to observe caution, as the 3-day chart shows a bearish…

Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

Bitcoin price rallied another 4% and climbed above $5,850 against the US Dollar. The price is surging higher, but there are many hurdles near $6,000, $6,070 and $6,100. There was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could spike above $6,000 or even towards $6,800 before correcting lower sharply. Bitcoin price is surging higher towards $6,000 against the US Dollar. BTC could extend gains, but it is facing two important hurdles near $6,100…