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Category: cryptocurrencies – Page 45

Just a few months ago, Augustín Carstens, the general manager for the Bank for International Settlements (BIS), the so-called central bank for central banks, said his organization saw no value in the potential of central-bank-issued digital currencies. Well, he’s apparently had a change of heart, and the entrance of Facebook and other “big techs” into financial services appears to be the reason.

The news: Carstens told the Financial Times that the BIS is supporting the “many” central banks currently developing or researching digital currencies. “And it might be that it is sooner than we think that there is a market and we need to be able to provide central bank digital currencies,” he said.

The context: Many other central bankers have dismissed cryptocurrencies like Bitcoin, which tend to be volatile and whose most popular use has been speculation. But Facebook’s proposed digital currency, Libra, will be backed by fiat money and designed to maintain a stable value.

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Bitcoin reached the highest value the popular cryptocurrency has had in the last 16 months — $11,251.21 — on Monday.

And Facebook is likely to blame. Analysts suggest that the social media giant’s recent unveiling of its own cryptocurrency called Libra likely bolstered investors’ confidence in crypto across the board, according to Agence France-Presse. Though Bitcoin never really recovered from its massive crash in late 2017, the recent resurgence is a sign that the cryptocurrency isn’t quite fading away as some believed.

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Today, Facebook is coming together with 27 organizations around the world to start the non-profit Libra Association and create a new currency called Libra.

Libra is a global cryptocurrency built on blockchain to promote financial inclusion. Libra is digital, mobile, stable, fast, cheap and secure. Read the Libra White Paper.

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As he sits stroking his Rip Van Winkle-worthy beard, it’s easy to see how de Grey’s achieved this “kind of a spiritual leader-status,” as he calls it. He dives easily into intricate explanations of two research projects unfolding in the lab down the hall, eagerly describing how one studies mitochondrial mutations, which are thought to cause an increase in oxidative stress. The other looks at atherosclerosis, the narrowing and hardening of artery walls. If we understood more about this buildup, the logic goes, we could better clean it up before too much damage is done.

Though he attends lab meetings and oversees the SENS’s research, his primary task is convincing the general public that death is, in fact, bad and that we should be doing everything we can to stop it. This focus on messaging suits him just fine. “I’m not in this to do science for the sake of doing science,” he says. “I’m in it for the ultimate goal.” He does a “ridiculous” amount of media, he says, and gives around 50 talks a year, from Vietnam to the Czech Republic.

Back in April, at a San Francisco blockchain conference called Block 2 the Future, de Grey began his talk with a disclaimer: “I probably ought to start by emphasizing that I don’t know fuck-all about cryptocurrencies. I am really only here because I have apparently quite a significant fan base in this community, and I am delighted that I do.”

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Bitcoin advanced to the highest level of 2019, the latest milestone for cryptocurrencies as they claw back from a year that saw three-quarters of their market value wiped out.

The biggest digital coin on Monday rose as much as 1.6 percent to $4,135.60, the top intraday level since Dec. 24, according to weekday trading data compiled by Bloomberg. So-called alternative coins rallied more, with Dash jumping as much as 31 percent and Monero increasing as much as 10 percent.

Bitcoin is close to breaking above an intraday level set on Christmas Eve. That day marked the end of a U.S. stocks selloff, after which the S&P 500 Index started a rally that continued through March and reversed most of the fourth-quarter rout.

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