PayPal Doesn’t Bring Users To The Bitcoin Network – Bitcoin Magazine

Article image created by cryptograffiti. News broke on the morning of October 21 2020, that PayPal would grant its users the ability to purchase, sell and hold bitcoin within its app. PayPal’s stock price rose 4.65 percent on the news, and the bitcoin price continued its rise from $11,400 to $12,700 by midday. There is no denying that PayPal is a monster in the mobile and digital payment processing space. Since the lockdowns stemming from the spread of COVID-19, consumers and businesses are transacting with cash less often, and more…

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Yearn Finance’s founder says he ‘doesn’t build for speculators’

The founder of Yearn Finance, Andre Cronje, has seen a fair share of criticism lately as he deployed some smart contracts that ended up losing users’ money. Cronje defended himself in a blog post and explained why he believes he shouldn’t be held responsible for those who “ape in” his testing contracts. Cronje will often place large disclaimers urging people to treat them with caution and not just go in because he built it. Little can be done to prevent this, given the permissionless nature of these products. Nevertheless, Cronje…

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DeFi market fall showcases how rising TVL doesn’t tell the full story

The decentralized finance market seems to be deflating after the DeFi summer craze when tokenized versions of Bitcoin and protocols, such as Uniswap and SushiSwap, outperformed the rest of the market. Earlier in October, the two main DeFi indices, Binance’s DeFi Composite Index and TokenSet’s DeFi Pulse Index Set lost more than 60% and 50% of their value, respectively. Meanwhile, total value locked in DeFi projects has been inching closer to its all-time high of $11.2 billion since late September. DeFi Composite Index was launched by Binance Futures in late…

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22% UniSwap (UNI) price drop doesn’t faze traders

Earlier today Yearn.finance (YFI) and Ether (ETH) rose sharply after Uniswap’s governance token UNI plunged 22% from $8.00 to $6.80. Cryptocurrency daily market performance snapshot. Source: Coin360 UNI, which launched less than 48 hours ago, has rallied from around $1.00 to $8.00 in a short period. After an impressive eight-fold gain, the token started to pull back but trading volume suggests traders have their eyes set on higher prices. YFI and ETH rallied as UNI corrected  As UNI started to make a parabolic rally from $1 onwards, the funding rate…

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Digital yuan doesn’t pose a threat to the hegemony of the dollar, says expert

Eswar Prasad, a professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution, believes that even though China’s digital yuan will enhance the renminbi’s role as an international payment currency, it will “hardly put a dent” in the US dollar’s status as the dominant currency. In an opinion piece published in Project Syndicate, Prasad states that the Chinese government should keep reforming the country’s financial markets and remove restrictions on capital flow to put both China’s CBDC and national cross-border payments system in the global…

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Hey Blockchain Devs, Waves Doesn’t Want to Hear Your Excuses

As part of a blog post detailing a different approach to blockchain transaction scaling, Waves Smart Contracts head of development, Ilya Smagin, noted the blockchain space often makes excuses for its shortcomings.  “One of the things blockchain people are good at is explaining why user restrictions and inconveniences are insignificant and are actually the solutions rather than the problems,” Smagin said in a June 4 post. Blockchain is still a young industry   Although some of the underpinnings and inspiration for blockchain tech came into play in years prior, the technology…

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