Bitcoin-Friendly Kanye West Running for US President 2020, Taking on Donald Trump and Joe Biden

Kanye West announced on Independence Day that he is running for president of the United States in 2020, taking on Donald Trump and former Vice President Joe Biden. Responding to the bitcoin-friendly singer with 21 Grammy Awards, Tesla and Spacex CEO Elon Musk said West has his full support.

Kanye West is one of the world’s best-selling musicians, with over 140 million records sold worldwide. He announced on July 4 via Twitter that he is running for president in 2020. The pro-bitcoin singer tweeted: “We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States.” At press time, his tweet has more than 78.8K comments, 438.5K retweets, and 890.8K likes.

Among people who have offered him support is Tesla and Spacex CEO Elon Musk, who tweeted in response to the singer’s announcement: “You have my full support.” West’s wife, Kim Kardashian West, tweeted an American flag emoji in response to her husband’s declaration.

However, it is not clear how serious West is about running for president in 2020, with some calling his tweet a marketing stunt. ABC News pointed out that it is possible that West is hoping to get “a little publicity for his upcoming album, ‘God’s Country,’ and its first single, ‘Wash Us in the Blood,’ which was released earlier this week.” West has won 21 Grammy awards, making him “one of the top Grammy winners in history, and is tied with Jay Z as the highest-decorated hip-hop artist,” according to Grammy’s website.

West and his wife are acquaintances of President Donald Trump and the pair have visited the White House multiple times. West has made several pro-Trump comments in the past. In 2018, he tweeted: “You don’t have to agree with Trump but the mob can’t make me not love him … He is my brother.” However, Kardashian West reportedly clarified that her husband “just happens to like Donald Trump’s personality but doesn’t know about the politics.”

Saturday’s announcement was not the first time West has talked about running for president. He said in 2015 that he would run for president in 2020 and made a similar statement in January and November last year for the 2024 presidential race.

In the cryptosphere, bitcoiners are happy that West may be running for president this year. The bitcoin-friendly singer said in an interview with TMZ in 2018: “When I saw Harriet Tubman on the $20 bill, that’s the moment when I wanted to use bitcoin.” In the same year, Kim Kardashian West received a Kialara physical bitcoin. A Twitter user opined: “Kanye West becomes the first potential United States presidential nominee to understand that bitcoin is money.”

ABC News explained that West would have to run as an independent and acquire the necessary signatures to get on November’s ballot. While voters can still write him in, the deadline for filing has already passed for some states, including Indiana, Maine, New Mexico, New York, North Carolina, and Texas.

Do you want Kanye West to become the U.S. president? Let us know in the comments section below.

The post Bitcoin-Friendly Kanye West Running for US President 2020, Taking on Donald Trump and Joe Biden appeared first on Bitcoin News.

Source: infobitez.blogspot.com

Contents

Tesla Market Cap Eclipses Bitcoin
U.S. Senate Debates Digital Dollar; New Mystery Bitcoin Fund Disclosed
Personal Data of 250,000 People From 20 Countries Leaked by Bitcoin Scam
Bad Crypto News of the Week
Cryptocurrency-Focused Docuseries Airs to Millions of Viewers via the Discovery Science Channel

Tesla Market Cap Eclipses Bitcoin

Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California on … [+] March 14, 2019. (Photo by Frederic J. BROWN / AFP) (Photo credit should read FREDERIC J. BROWN/AFP/Getty Images)

And while most reports focused on Tesla becoming the most valuable auto-maker and surpassing Toyota, there is another comparison that is worth being made.

On July 2nd, Tesla’s shares closed at $1,208.66 with a total market capitalization of a whopping $224.1B. Bitcoin, trading at $9,136.15, is currently at a market cap of $168.3B, down from an all time high of $334B.

Governments globally are keeping their eye on Bitcoin, which has acted as a hedge against unstable currencies. Bitcoin has gained particular prominence in Venezuela, Lebanon and Zimbabwe, all of which have experienced hyperinflation. The Russian government has also shown interest in Bitcoin, reportedly investing in Bitcoin-mining facilities in the north, while banning use for regular citizens.

Proponents of Bitcoin argue that it will replace money for the next generation. And this may well be true. But with the Federal Reserve issuing over $4 trillion in stimulus so far, and most recently initiating a $750 billion corporate bond buying program, Bitcoin seems like small potatoes to the American government. Even more concerning is that, given its current spending patterns, the Federal Reserve could simply buy up all available Bitcoin supply and eliminate any competition to the USD as the world reserve currency.

There are two potential futures for Bitcoin. The first is a small group of wealthy individuals (or governments) accumulate the majority of this digital asset, and decrease its significance. This is far-fetched, but possible, given some of the wealthiest individuals in the world, including Jeff Bezos, hold more wealth than the market cap of Bitcoin.

The second is governments go on a buying spree of Bitcoin, using it as a type of commodity to back its currency, similar to the gold standard. It is estimated that 45% of the world’s current gold supply is currently held in government vaults, with regular purchases made each year. A similar treatment of Bitcoin could drive up the price of Bitcoin to never-before seen levels, creating a new “Bitcoin Standard.”

Source: www.forbes.com

Tatiana Koffman

U.S. Senate Debates Digital Dollar; New Mystery Bitcoin Fund Disclosed

Get Forbes’ top crypto and blockchain stories delivered to your inbox every week for the latest news on bitcoin, other major cryptocurrencies and enterprise blockchain adoption.

Senator Tom Cotton advocated for the digital dollar as a means to get ahead of China.

Bitcoin flatlined into the end of 2020’s second quarter with another calm week, hovering just above $9,000. “It is not unusual to see markets trading in a tight range into large quarterly expiries and picking up a direction thereafter,” cryptocurrency analyst Emmanuel Goh says. Trading expert Paul Eisma says crypto markets are in a comparable state now to stocks in the post-dotcom bubble years, as companies regroup and slowly build products for the long term.

The near-term future may be brighter for ether, which is at the forefront of the decentralized finance (DeFi) explosion with platforms that can be built on its blockchain. Specialized DeFi tokens have done even better than bitcoin in the last three months, though a correction in this segment could help bitcoin rally again.

Source: Messari. Prices as of 12:00 p.m. on July 2, 2020.

The Senate Banking Committee held a hearing on the future of the digital dollar Tuesday, as competition with China is motivating lawmakers to move forward. “The U.S. dollar has to keep earning that place in the global payments system. It has to be better than bitcoin… it has to be better than a digital yuan,” Senator Tom Cotton said. Former CFTC chairman and head of the Digital Dollar Project Chris Giancarlo urged Congress to embrace change, adding that “Darwin said the most adaptable survive.”

What future awaits cryptocurrencies?

GOODBAD

There are still some stumbling blocks around privacy, implementation and equity that have to be sorted out before the digital dollar can be launched. But if Congress and crypto proponents are patient and willing to compromise, it might represent the breakthrough acceptance and adoption that advocates have been striving to achieve.

The New York Digital Investment Group disclosed in an SEC filing Tuesday that it closed a $190 million bitcoin fund with 24 unnamed investors. It closed a similarly-named bitcoin fund at $140 million in May, making NYDIG quietly one of the largest institutional investors in bitcoin in the U.S. NYDIG is staying mum on any details about the new fund.

On Thursday, CoinMetro became the first crypto exchange to offer market sentiment data used by hedge funds to all of its users. Investor sentiment is the primary catalyst for crypto price movements, and CoinMetro’s integration with analytics company The TIE could give its users an edge. “This data would usually not be available for the little guys…. we feel they have a right to it,” CoinMetro CEO Kevin Murcko says.

Beijing-based ChinaNet Online Holdings said this week that its blockchain projects previously expected to be completed by May of this year were delayed by coronavirus. It entered contracts in 2018 with ethereum startup OMG and a small company called Bo!News to develop and adjust blockchain-powered applications to improve the efficiency of transactions, but with first-quarter revenue nearly chopped in half due to the pandemic, those initiatives were thrown off course.

Elsewhere in the Eastern Hemisphere, one of Australia’s oldest institutions—its post office—will start allowing customers to buy bitcoin and other cryptocurrencies at 3,500 locations.

And Curv, a promising New York-based startup that offers crypto custody services to institutions, raised a $23 million Series A funding round, with Coinbase Ventures among its investors.

Ransomware may be the first scalable cryptocurrency threat, but hackers, like employees who have settled in to a new remote working reality, are also in a state of transition. There hasn’t been a significant uptick in cybercrime yet, but information security executive Jason Ingalls says “the bad guys are off doing their research to identify our most vulnerable points. A wave of attacks is coming.”

Hospitals in particular need to have their guard up. “When a hospital’s records are held hostage, lives are put in danger. They are more likely to pay,” Maddie Kennedy of Chainalysis says. So what can we do? Stay vigilant. Don’t click on that phishing link.

Someone Mysteriously Sent Almost $1 Billion in Bitcoin [Vice]

The Man Who Tokenized Himself Gives Holders Power Over His Life [CoinDesk]

Investing in Blockchain Gaming: Why VCs Are Betting Big [Cointelegraph]

Source: www.forbes.com

Author: Crypto Confidential

Personal Data of 250,000 People From 20 Countries Leaked by Bitcoin Scam

Hundreds of Sites Now Earn Crypto Trading Fees: Exchange WordPress Plugin Sees 300 Active Installs

6 Privacy-Enhancing Tools That Place Bitcoin Cash Transactions Ahead of the Pack

Online Data Analysis Points to Venezuela Accepting BTC for Passports

Skeptics Concerned Plustoken Scammers Plan to Dump $187M Worth of Ethereum

Federated Sidechains: $8M in BTC Stuck in Limbo, Analyst Says Action ‘Violates Liquid’s Security Model’

Bolstering Separation of Money and State Following the 244th Independence Day

Bitcoin.org Maintainer Calls for the Removal of Cobra, Website Owner Then Fires Him

‘Sophisticated’ Hacker Plunders $450,000 From Defi Protocol Balancer

Visualize Crypto Transaction Privacy Scores With Blockchair’s ‘Privacy-o-Meter’

Gifts and Remittances: Bitcoin.com’s New Tools Allow People to Send BCH via Email

US Contract Miner Core Scientific Buys 17,600 Bitcoin Miners From Bitmain

Comprehensive Analysis Predicts Bitcoin Price Near $20K This Year, $398K by 2030

Indian Crypto Banks and Exchanges See Massive Growth Amid Rising Covid-19 Crisis: Survey

Record Breaking Unmoved Bitcoin Data Sparks Expectation of Imminent Bull Run

Bamboozled: Gavin Andresen Says He Could Have Been Fooled by Craig Wright, BSV Supporters Speak Out

Bitcoin’s 5% Drop in Value Puts Pressure on BTC Mining Operations and Older ASIC Rigs

Bitcoin Miner Hut 8 to Add 275 PH/s of Mining Capacity With $8.3M Capital Raise

CryptoAltum, The CFD Trading Platform With 1:500 Leverage

Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loans in China

Brewdog Tokyo Accepts Bitcoin Cash Payments: Local BCH Meetup Gathers to Celebrate

Bitcoin Investors Pocketed 42% in Gains During the Second Quarter of 2020

Tether’s Market Valuation Grows 144% in 2020, USDT Market Cap Worth $10 Billion

Alt-Right Activist Stefan Molyneux Banned from Youtube, Raises $100K in Crypto Donations

A ‘Significant Increase’: UK Regulator Says 2.6 Million Residents Have Bought Cryptocurrencies

$11 Trillion Offshore Assets Uncovered After 100 Countries Share Information on 84 Million Bank Accounts

Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Investors to Eat up Entire New Supply

‘Running Drivenet:’ Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network

Localbitcoins 2019 Revenue Rises 10% to $29.6 Million Amid Increased Paxful Competition

Mining Company Ebang’s Stock Listed on Nasdaq Down 11%, Firm Plans to Launch Offshore Exchange

Trouble in Defi Paradise: Compound-Issued DAI Surpasses DAI in Circulation

Russian Court: Bitcoin Theft Not a Crime

UK Court Denies Maduro Access to $1 Billion of Venezuela’s Gold

Investment Firm Arcane Crypto to Go Public via $33 Million Reverse Merger

Despite Covid-19 Negativity, Crypto Prediction Markets Say Trump Wins the 2020 Election

Crypto Use-Cases in Africa on the Rise, According to Luno

The IRS Investigation Division Is Requesting Information About Privacy-Centric Cryptocurrencies

Source: bitcoinrecent.com

Author: by admin

Bad Crypto News of the Week

Maybe it’s time to start talking about boring Bitcoin. The dollar price has moved barely half a percentage point over the last week, remaining around the $9,200 mark. Bitcoin’s holders, though, don’t expect the coin to remain a boring store of value forever. A survey by Bitcoin IRA found that 42 percent of the crypto custodian’s customers expect the price to reach $15,000 by the end of the year. Even that might not prompt sales though. Some 57 percent said they were holding for the long term.

Those optimists might be wrong, though. SteveCrypt0, a popular trader, has suggested that Bitcoin could fall to $6,000… though it would still remain bullish.

Of course, SteveCrypt0 could be wrong and he wouldn’t be the only one to make a mistake. A survey has found that 55 percent of respondents have made errors when sending cryptocurrency, and 18 percent have lost funds that way. An Israeli blockchain startup has a solution. It’s created a kind of “undo” button for crypto transfers. (It’s a confirmation code).

An “undo” button might be useful in Russia at the moment. A court in that country has ruled that thieves who kidnapped someone and forced him to send them 99.7 BTC don’t have to pay back the Bitcoins. Digital currency isn’t property, the judge ruled.

It’s not just Russia that’s producing strange rules though. US senators are trying to pass a law that will give law enforcement access to encrypted data. It requires manufacturers to include a backdoor that will enable them to decrypt information.

Other countries are doing better. In China, the municipal government of Beijing has released a 20-point plan to make the Chinese capital a global hub for blockchain technologies. In India, a decision by the Supreme Court to reverse laws stopping banks from serving crypto traders and businesses has led to a surge of activity from the country’s crypto app developers.

But it’s not all good news. After trailblazing the development of blockchain technology, Estonia is grappling with the effects of the European Union’s new Know Your Customer laws. Firms are fleeing.

Fortunately, their flights might be easier to book soon. Travel firms are rolling out more blockchain-based experiments and pilot projects to make travel cheaper and more efficient. Those moves come as analytics tools from the Big Four accountancy firms promise to make cryptotrading easier for institutional investors.

And finally, if you ever wanted to see crypto forecaster Mati Greenspan in red lycra and white underpants, here’s your chance. Greenspan is Forecaster in the Bad Crypto Podcasts’ Blockchain Heroes’ set of digital trading cards. Who said Bitcoin was boring?

Check out the audio version here:

Joel Comm is an internet pioneer, New York Times best-selling author, futurist speaker and co-host of The Bad Crypto Podcast. That’s a fancy way of saying he writes words, says things and loves to play with cryptos

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Source: www.bit-cointalk.com

Cryptocurrency-Focused Docuseries Airs to Millions of Viewers via the Discovery Science Channel