Diem coin listing
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- What is diem? New digital currency to launch from Coinbase, Facebook and Uber
- What is the Future of Facebook's Diem Cryptocurrency in 2022?
- Cryptocurrency Regulations Around The World
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- Libra: Restart Under a New Name
- CarpeDiemCoin (DIEM) Exchanges - Buy, Sell & Trade
- Facebook’s coin is a bad idea, whose time has come
What is diem? New digital currency to launch from Coinbase, Facebook and Uber
That was just seven days ago. Much of this has come courtesy of one Elon Musk. Bitcoin investors have hung on every word of his tweets about the cryptocurrency, and have reacted almost as mercurially as the Tesla founder himself. If moving markets is a superpower, then Musk could be a Marvel character.
The wild swings of recent days may justifiably have given investors — and mainstream finance sector players that have been making forays into crypto — pause for thought on just how reliable cryptos are as a store of value. Speaking of stability, U. And when can we expect an independent audit of the multitude of credit assets, still of unknown quality?
Until we get answers, and in the absence of significant disclosures, those holding Tether may be content simply to cross their fingers and hope for the best.
Insights What does it mean? A trillion dollars was erased from the crypto markets in less than a week, but how did we get here? Not only did the crypto industry keep a close eye on this development, it was clear that the crypto faithful were cheering on WSB for executing a short squeeze against the very hedge funds that some may argue had been acting as gatekeepers to the democratization of capital — something Bitcoin has been attempting to achieve.
But something else started to happen. Musk began championing Dogecoin , the original joke cryptocurrency. The meme crypto-trading craze reached such a frenzy that even Dogecoin imitators — memes of a meme — took hold of the crypto world, peaking with the flash popularity of joke-on-a-joke coins like Shiba Inu SHIB and Loser Coin LOWB popping up left and right.
Just as Musk had proved a few of his remarks could create enormous interest and value in a cryptocurrency, he also proved he could single-handedly drain a crypto of significant value with a single tweet.
Although most everyone agrees that Dogecoin and Shiba Inu are a joke, and that the institutional money has been on Bitcoin, the truth is that under the sheets, BTC prices have also seen huge swings as Musk blew hot and cold about it in his tweets — making Bitcoin an even more significant benefactor and casualty of the meme-trading phenomenon.
As Musk shows no sign that he will stop tweeting about Bitcoin and other cryptos, we can expect market conditions to continue to be dictated by investors jumping at his every word, hoping to make fast cash or panicking in correction. Bitcoin and the overall cryptocurrency market are currently in recovery mode following one of the most severe corrections since March The USDT stablecoin serves three main purposes: to act as a portable unit of exchange while remaining pegged to the United States dollar, to serve as a gateway between different cryptocurrencies, and to function as a gateway between crypto and fiat.
USDT is therefore highly leveraged on crypto exchanges, particularly in Asia. The situation remains murky, as the document provided by Tether is literally a single-page PDF with two pie charts and a few lines of text that make no mention of any independent review by an accounting firm. Need LOTS more disclosure now. The Avanti CEO claimed traders may now feel compelled to sell other cryptocurrencies to reduce their total risk exposure, given that the stablecoin has the potential to bring down other tokens amid a credit market correction.
Facebook-backed Diem, the project once known as Libra, is moving its operations from Switzerland to the U. Quoting an anonymous source, CNBC reported that the pilot could start later this year. Formerly known as Libra , Diem has been a thorn in the side of lawmakers since the association publicly launched in mid The announcement of Libra in has even been credited as one of the major motivations for the creation of central bank digital currencies.
The original planned development of the Facebook-backed currency and blockchain could essentially have positioned the social media giant — a private company with more than 2. Now rebranded as Diem, the digital payments project has significantly scaled back its earlier global ambitions.
The Diem Association is also relocating from Switzerland to the U. No official launch date has yet been announced for Diem. The social media giant has said it would keep financial data separate from its social network data. Unfortunately for BlockFi, it mistakenly rewarded some of its users in Bitcoin rather than stablecoins. However, those on the winning side of the human error in this particular case may be some of the happiest people in the crypto world at the moment, particularly given the tumble in Bitcoin prices this week.
Even as CeFi services like BlockFi are allowing users to earn higher interest through cryptocurrency outside the world of traditional finance, some people would much rather do it themselves using smart-contract ecosystems. Several major contenders, including Solana , Polkadot and Cardano , are growing in popularity as Ethereum faces delays. In recent days, Polygon, formerly known as Matic, has also been on the rise by providing DeFi services on the Ethereum blockchain at a lower cost.
The government has now set up a hotline for tipsters to report to authorities anyone who might not be following the no-crypto-mining rule. Bitcoin is known as a decentralized cryptocurrency, but as it stands, most of the processing power for verifying transactions on its blockchain — or mining hashrate — is still heavily concentrated in China. According to the Cambridge Centre for Alternative Finance, In comparison, the United States contributes only 5.
However, starting this month, Inner Mongolia will no longer be an option for cryptocurrency mining, after its provincial government declared a ban on mining in March, giving miners two months to cease all operations and clear out of the region. When it comes to helping China meet its carbon reduction goals, Inner Mongolia does not have a stellar track record, having failed to meet its national energy-saving target in Chastened, Inner Mongolia has not only banned crypto mining but is now also enlisting members of the public to assist with enforcement by reporting others.
The purpose of its hotline is to uncover out crypto mining operations that are now concealing their activities within data centers — many of which still enjoy tax breaks, and subsidized land and electricity prices. News is a digital media platform that covers stories about emerging technology at the intersection of business, economy and politics. From Asia, to the world. The Current Forkast. By Forkast. Share on twitter Share on linkedin Share on facebook Share on telegram Share on whatsapp Share on line.
Tether USDT lifts veil on reserves. Facebook-backed Diem going to California. News 1. Image: Envato Elements. Facebook-backed Diem has moved its operations to the U. BlockFi mistakenly rewarded users with Bitcoin instead of stablecoins. Inner Mongolia is tightening its crypto mining ban. Author profile Forkast. News Forkast. South Korea wants to be the physical home of the metaverse.
What is the Future of Facebook's Diem Cryptocurrency in 2022?
Post a Comment. Thursday, October 21, Facebook has now no need to answer queries about the unveiling of its Novi wallet as it introduced a tiny pilot of digital wallets in two countries, the United States and Guatemala. However, only a restricted number of persons will be allowed to use the Novi Wallet. The social networking giant has rolled out the digital wallet after two years of its announcement. But this latest declaration has raises a number of queries as it has unveiled without the significant feature Diem cryptocurrency, previously known as Libra.
Cryptocurrency Regulations Around The World
Facebook wanted to revolutionize finance with a global digital currency — then came the regulators. First proposed in June with the name libra, the token was initially intended to be a universal currency tied to a basket of sovereign currencies such as the U. But after facing strong opposition from regulators around the world, the organization overseeing the project lost major backers including Visa and Mastercard. The group eventually watered down its plans , opting for multiple "stablecoins" backed one-to-one by different government-backed currencies, as well as one multi-currency coin. Now known as diem , the Facebook-backed digital coin is expected to launch later this year, albeit in a much more limited form. When it finally arrives, diem won't come with the same fanfare and controversy of the original idea envisioned by the social media giant nearly two years ago. The Diem Association, the Switzerland-based nonprofit which oversees diem's development, is aiming to launch a pilot with a single stablecoin pegged to the U. The person, who preferred to remain anonymous as the details haven't yet been made public, said this pilot will be small in scale, focusing largely on transactions between individual consumers. There may also be an option for users to buy goods and purchases, the person added. However, there is no confirmed date for the launch and timing could therefore change.
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Some would call us a ninja mined coin. Once DIEM got a little traction and rose in value he disappeared, after I would assume he sold off his coins. It took a while for the community to realise what had happened and as the fact that he was gone became obvious we got worried. This was not an easy choice but the only choice from what we were told after talking to many devs of other coins. So we did a trade in that lasted about a month at which time the old blockchain eventually withered and died.
Libra: Restart Under a New Name
Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. These offers do not represent all available deposit, investment, loan or credit products. The Diem saga started in when Facebook announced a new digital currency called Libra. The mission was simple yet ambitious.
CarpeDiemCoin (DIEM) Exchanges - Buy, Sell & Trade
Are you a techie who knows how to write? Then join our Team! English native speakers welcome! German-English-Translator - Details here English native speakers preferred. Diem , the cryptocurrency project backed by Meta, appears to be unravelling as rumours of asset sale talks emerge. According to sources close to the matter who spoke to Bloomberg , The Diem Association is considering selling off assets to enable the company to return investor capital.
Facebook’s coin is a bad idea, whose time has come
Facebook first unveiled plan for Libra in June , part of an effort to expand beyond social networking. Digital currency group Diem Association, formerly known as Facebook's Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the United States, the group said on Wednesday. The association, which comprises 26 financial firms and non-profits, said it was relocating its main operations from Switzerland to the United States and withdrawing its payment system license application with the Swiss financial regulator.
Diem is a proposed cryptocurrency currently in development by a group of technology and finance companies collectively known as the Diem Association. While you may not have heard about "Diem" before, you may have heard of it by its former name, "Libra. The Diem Association rebranded from Libra in early , relatively early in its development. Tech giant Facebook was heavily involved in the project early on, leading many to distrust the project due at least in part to Facebook's less-than-spotless reputation when it comes to issues of data handling.
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