🗞 Daily Crypto News, September, 5th💰
- UN Official: Crypto Makes Policing Child Trafficking ‘Exceptionally Difficult’ ;
- Bitcoin Short of Bull Target Despite Five Days of Price Gains ;
- China’s Crypto Competitor Is Being Built in a Secret Office with Restricted Access ;
- Square, Twitter CEO Jack Dorsey: Bitcoin ‘Not Functional as a Currency’ ;
- Foundation Uses Blockchain and Crypto to Help Save the Brazilian Amazon ;
- 📑 Daily Crypto Calendar, September, 5th💰
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
A top United Nations (UN) official said cryptocurrencies are making international efforts to combat terrorist financing, money laundering and cyber-crime “exceptionally difficult.”
Neil Walsh, chief of the Cybercrime and Anti-Money Laundering arm of the UN’s Office on Drugs and Crime, said that the anonymizing and pseudo-anonymizing attributes of cryptocurrencies provide a “new layer of secrecy that favors the criminals,” when speaking to the Australian Broadcasting Corporation’s Linda Mottram.
Specifically, Walsh raised concerns about the role cryptocurrencies play in the clandestine child trafficking industry.
“In the past, when we looked at some of the really big high-threat areas like kids getting abused online, it had to be paid for and now, with the use of cryptocurrencies, it’s exceptionally difficult for investigators to track that and try and manage that risk down,” Walsh said.
Bitcoin’s five-day winning run, the longest in a month, has neutralized the short-term bearish view. A UTC close above the lower high of $10,956 created on Aug. 20 is needed for a bullish revival.
Volumes picked up on Tuesday, adding credence to Monday’s triangle breakout on the daily chart. So, a rise to $10,956 may be on the cards.
The probability of a move above $10,956 would weaken if the prices drop below key the crucial support at $10,286 on the hourly chart. Acceptance below that level could yield a deeper drop into four figures.
The People’s Bank of China (PBoC) is charging full speed ahead with its digital currency plans, hoping to beat Facebook’s Libra to market.
A dedicated team from the central bank’s Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters, a person close to the bank told CoinDesk.
The team has been working in this separate location since early summer so they could fully concentrate on the project, this person said.
The work has been expedited as Facebook unveiled in June its vision for Libra, a global cryptocurrency to facilitate payments, the source added.
Make Bitcoin more usable and accessible as a currency
On Sept. 4, the outspoken Bitcoin advocate told the Australian Financial Review that he is convinced the No.
1 cryptocurrency will continue to be adopted more widely. However, Dorsey added:
"It's not functional as a currency. The peaks and troughs are like an investment asset and are equivalent to gold. What we need to do is make it more usable and accessible as a currency, but it's not there yet."
Rainforest Foundation US is a New York-based, non-profit NGO working in Central and South America, which is now hoping to support anti-deforestation efforts with crypto and blockchain tech.
Deforestation and fires in the Brazilian Amazon
On Sept. 4, the Rainforest Foundation reached out to the crypto and blockchain community to ask for their support to fight against deforestation and forest fires in Brazil. The post on the foundation’s website states:
“Since Bolsonaro took office in January, deforestation in the Brazilian Amazon is up 75% and forest fires in the Brazilian Amazon have doubled compared to the past year. As guardians of our rainforests, its animals and its people, we are working with The Giving Block to form a coalition of crypto sponsors, donors and media partners who will help stop this devastation.”
📑 Daily Crypto Calendar, September, 5th💰
"SDF and the Blockchain Innovation Associates are teaming up for a Meetup in Manhattan on Thursday, September 5!"
"We'll have good tech, good people, and good food - come get excited with us and learn how to build on our protocols!"
Team updates from the following divisions: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Casual Monolith community meetup at Hyde Park, Thursday 05 September, 06:30 PM.
"AMA on September 5th 09:00 AM GMT+7"
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
The STEEM has still difficulties to progress, even during the UP of the BTC. We are slowly progressing towards the resistance line at 0.18$. If we don't have an increase of volume and volatility, we have no chanc at all to break this resistance line and we have a high risk of rejection during the test of this line. Let's see if we will start to see more volume on the STEEM because currently is really low and without any volatility.
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Posted from my blog with SteemPress : https://scrips.io/blog/mr-cryptolemon/%f0%9f%97%9e-daily-crypto-news-september-5th%f0%9f%92%b0/