Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing It

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Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing It

Fortune magazine’s annual 40 Under 40 is out, recently published in print and online, highlighting leaders under forty years of age. This year, the cryptosphere is well represented by Ethereum’s Vitalik Buterin, Coinbase’s Brian Armstrong, and Robinhood’s Vlad Tenev. Wielding billions and billions in valuations, their average age is just a tender 30 years old. Slowly and methodically, crypto is making its way into the mainstream, coming of age.

Also read: Philippines Embraces Cryptocurrency: Exchanges Issued Provisional Licenses

Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing It

Fortune’s 40 Under 40 Include Ecosystem Heavy Hitters

Fortune magazine’s 40 Under 40 list contains forty of the world’s most productive, interesting leaders under forty years old. “Whether they’re building companies worth billions of dollars,” the magazine explains, “carving a prominent niche in a Fortune 500 business, leading governments or winning Academy Awards, these listers are running fast and winning big.”

The 2018 iteration includes cryptocurrency heavies such as Ethereum’s Vitalik Buterin (24), Coinbase’s Brian Armstrong (35), and Robinhood’s Vlad Tenev (31). On making the cut, some were asked about keys to their success. Mr. Tenev of Robinhood, the free stock trading application which recently allowed users to trade crypto, emphasized writing things down.

Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing It

“I write everything down: important decisions,” Mr. Tenev revealed, “my number-one goal for the day, to-dos, and miscellaneous thoughts. It helps me focus on what’s most important each day, not forget anything, and provides a nice look back at key moments and inflection points that can be good teaching moments for new employees down the road.” In only five years, Robinhood reached a reported $5.6 billion valuation.

Crypto is Coming of Age

Making Fortune’s list marks something of a crypto coming of age. The broader, mainstream financial community appears to be taking more notice of decentralized digital currency. It has taken nearly a decade, but with revelations about patent-seeking legacy corporations, futures markets, more talk of ETFs on the horizon, crypto has arrived.

Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing ItIndeed, famed crypto bank and quasi-exchange, Coinbase has at its head a 35-year-old who believes in motivational language. CEO Brian Armstrong explains, “Everyday, I write down affirmations (what I aspire to be in the world) and my goals (if I only got three things done today, what would they be). Then I start on those three things, before looking at anything else like my inbox.” Coinbase has grown so fast; rumors are that it aims to be the ecosystem’s Google in terms of stature.

Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing It

Vitalik Buterin, 24, a founder and the face of Ethereum, describes “his open-source blockchain platform Ethereum as a ‘world computer,’” Fortune notes. “The skinny visionary’s experiment, which began as a white paper, now has a market valuation of $48 billion, making it the second-most-valuable crypto network next to Bitcoin. Ethereum caught a lucky break this year when the SEC said it would not regulate ether, the network’s native coin, as a security. Rumor has it Google recently tried to hire Buterin to lead its own whispered crypto endeavors, but he declined.”

Has crypto arrived in the mainstream sense? Let us know in the comments section below. 


Images via the Pixabay.


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Bitcoin ETF Decision Gets an Overwhelming Amount of Public Opinion

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Bitcoin ETF Decision Gets an Overwhelming Amount of Public Opinion

A great deal of cryptocurrency proponents are hoping for a positive outcome when the US Securities Exchange Commission (SEC) decides on whether or not they will approve the latest bitcoin-based ETF application file by Cboe. The US regulator had asked for public opinion concerning the ETF again, and this time around the number of responses sent to the regulator is 10X the amount that was sent this past April.

Also Read: Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision 

SEC Receives 10X the Number of Responses for the Upcoming Bitcoin ETF Decision

Bitcoin ETF Decision Gets an Overwhelming Amount of Public OpinionVirtual currency enthusiasts really want a bitcoin-based exchange-traded fund (ETF) approved by US regulators. Over the past few weeks, since Cboe filed an application with the SEC, so it can list shares backed by the Vaneck Solidx Bitcoin Trust (“the Trust”), the SEC office received a large swathe of opinion letters from more than 90 individuals according to recent reports. The number of responses sent was 10X the amount of opinions written last April during a prior bitcoin ETF decision.

Reports also detail that Cboe’s bitcoin-based ETF has been so popular that the SEC has pushed another cryptocurrency related listing off until this September. The attempted Cboe ETF has been a popular discussion among cryptocurrency enthusiasts and some speculators believe digital asset prices will rise in anticipation of the SEC’s decision. Cryptocurrency markets have seemingly already reversed their bearish trend and a good amount of proponents believe this decision will cause a spike either before and after the ruling if it is positive.

SEC Decision Date Discrepancy and a Possible Crypto-Bull Run if the Ruling Is Positive  

There’s also been a discrepancy on when the official decision would be made as many people and publications assumed the verdict would be on August 10. However, according to a Reddit user, who claims to be a securities lawyer, on the forum r/cryptocurrency, an August 10 decision is impossible.

“The way this works is that the SEC issues a notice, which is then published in the Federal Register — As you will find stated clearly in the notice, the period is within 45 days from the date of publication in the Federal Register — not the date the notice is released by the SEC (edit: failure to understand this distinction is the source of the incorrect August 10th date),” explains the post.  

The date of publication in the Federal Register was July 2nd — This means they have until August 16th. Bear in mind that it can be extended, and even once the period ends, the SEC may “initiate proceedings” to assist in making a decision.

Bitcoin ETF Decision Gets an Overwhelming Amount of Public Opinion

A Possible Crypto-Bull Run if the SEC Ruling Is Positive

If an ETF judgment is made on August 16 there is well over a month until that date, so a lot could happen to cryptocurrency spot markets between now and that time. People who hope this ETF will happen believe it might be approved because of Cboe’s previous experience with bitcoin futures markets introduced this past December. So far the derivatives markets offered by both Cboe and CME Group have done well, and growing volumes show there is interest in these mainstream cryptocurrency investment vehicles. Arthur Hayes the co-founder and CEO of Bitmex exchange explains on the CNBC broadcast Fast Money that a positive ETF ruling could prime the next massive bull run.

“We’re one positive regulatory decision away — maybe an ETF approved by the SEC — to climb through $20,000 and even to $50,000 by the end of the year,” the Bitmex CEO states.

What do you think about the SEC being swamped with letters about the bitcoin ETF decision? Do you think a positive decision will cause a cryptocurrency bull run to happen? Let us know what you think in the comment section below.


Images via Shutterstock, Wiki Commons, and Pixabay


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Ukraine’s Financial Stability Council Supports Crypto Regulatory Concept

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Ukraine’s Financial Stability Council Supports Crypto Regulatory Concept

Ukraine has taken a positive step towards legalizing cryptocurrencies. A new regulatory concept, one that recognizes coins and tokens as financial instruments, has won support from the members of the country’s Financial Stability Council. The body includes representatives of the National Bank, the Finance Ministry and other government agencies.

Also read: Minsk Mulls Rules for Exchanges, Qiwi Awards Employees with Tokens

Ukraine Adopts Regulatory Concept for Cryptocurrencies

It’s been quite a while since Ukraine made any notable progress towards regulating its crypto sector. A new decision in Kiev, however, qualifies as an important development. The country’s Financial Stability Council has supported a concept to regulate crypto transactions. The body is composed of representatives from the National Bank of Ukraine, the Ministry of Finance, the Deposit Guarantee Fund, the National Securities and Stock Market Commission, and the National Financial Services Market Commission.

Ukraine’s Financial Stability Council Supports Crypto Regulatory ConceptThe news about the decision of the council was announced on social media by Timur Khromaev, head of the National Securities and Stock Market Commission (NSSMC). “This is an important first step in building a consensus among government agencies and financial regulators which confirms the readiness to work with the Verkhovna Rada and the crypto market on forming a legislative and a regulatory framework that will ensure transparency and quality of relations between investors and crypto market participants,” Khromaev said in a Facebook post.

The newly approved concept recognizes certain categories of cryptocurrencies and tokens as financial instruments. It also determines the roles and functions of government agencies, such as the National Bank, the Finance Ministry, the State Fiscal Service, the State Financial Monitoring Service, and the NSSMC, in regards to regulating the circulation of cryptos, licensing of participants in crypto transactions, and disclosure of information.

Cryptocurrencies Still Unregulated, Not Legal in Ukraine

The status of cryptocurrencies in Ukraine is still undetermined. Three bills designed to legalize and regulate them and the related economic activities have been filed in the Rada since October but no significant progress has been made towards their adoption. These are the laws “On the Circulation of Cryptocurrency in Ukraine”, “On Stimulating the Market of Cryptocurrencies and Their Derivatives”, and a supplementary draft addressing crypto taxation. The recently voted Currency Law did not mention cryptocurrencies at all.

Ukraine’s Financial Stability Council Supports Crypto Regulatory ConceptThe NSSMC, one of the regulators that would be responsible for overseeing the crypto industry, did not support the bills introduced in the Rada. At the time, the commission objected to the use of the term “cryptocurrency” in the legal texts, stating that it is a result of what it called “financial engineering” and not a currency. The National Bank, the National Securities and Stock Market Commission and the National Financial Services Market Commission did not recognize cryptocurrencies as legal means of payment or money surrogate.

Cryptocurrencies have been steadily gaining popularity in Ukraine, especially in the last couple of years. Local media claim that the country is among the top 10 by number of crypto users. According to some recent reports, the estimated daily crypto-hryvnia turnover on the three major Ukrainian exchanges reaches $1.9 – $2 million USD. The actual volume may be much higher, given the large number of small trading platforms and individuals offering exchange services.

Do you expect Ukraine to adopt comprehensive crypto regulations? Let us know in the comments section below.


Images courtesy of Shutterstock, Timur Khromaev (Facebook).


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Vietnam’s Central Bank Thinks Cryptocurrency Miners Should Be Banned

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Vietnam's Central Bank Thinks Cryptocurrency Miners Should be Banned

According to regional reports, the State Bank of Vietnam (SBV) has agreed with a proposal to ban imported cryptocurrency mining machines in order to keep the digital currency economy tethered tightly to the government’s regulatory frameworks. The proposal was introduced by the country’s Ministry of Industry and Trade (MoIT) after the SBV announced that cryptocurrency use within Vietnam was not a “lawful means of payment” this past October.

Also read: Bitcoin Vietnam Faces Losing its Domain from Government

The State Bank of Vietnam Agrees Cryptocurrency Miners Should be Banned

Vietnam's Central Bank Thinks Cryptocurrency Miners Should be BannedLately, Vietnam’s government and regulatory bodies haven’t been too friendly towards the cryptocurrency industry. Last October the country’s central bank detailed in a letter to the public that bitcoin and other cryptocurrencies were not a “lawful means of payment.” Furthermore, if Vietnam residents decided to use “bitcoin and other similar virtual currency they may be subject to prosecution.” Then, this past June, news.Bitcoin.com reported on Vietnam’s Ministry of Finance initiating the idea that the country’s governing authorities should ban cryptocurrency mining device imports.

Now the local Việt Nam News reports that the central bank agrees with a proposal written by the Ministry of Industry and Trade (MoIT) which calls for the banning of these mining machines. Vietnam’s MoIT and the SBV believe that letting these devices come into the country makes it harder for the government to regulate bitcoin and other virtual currencies. Many Vietnamese officials have been deliberating on how to handle the cryptocurrency industry and in April the country’s Prime Minister, Nguyễn Xuân Phúc, signed an initiative to tighten regulatory guidelines.

Crypto-Fraud Sparked the Regulatory Crackdown

Vietnam's Central Bank Thinks Cryptocurrency Miners Should be BannedThe Ministry of Finance and MoIT have explained the reason for the current regulatory proposals towards mining rigs is because they want to protect Vietnamese consumers from scams in the future. All of the latest regulatory announcements towards cryptos have followed the recent Vietnamese law enforcement bust that dealt with the largest cryptocurrency fraud case that claimed more than 32,000 victims. The officials think that banning cryptocurrency mining machine imports will further help protect local consumers until virtual currency regulations are more solidified.

Việt Nam News also details that the General Department of Customs estimates that the country has imported 15,600 mining devices from 2017 to April 2018. The state administration of customs says that a great majority of machines were imported to areas such as Đà Nẵng, Ho Chi Minh City, and Hà Nội.

What do you think about Vietnam’s state administrations attempting to ban cryptocurrency miners in the country? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, Central Bank photo taken by Xita, and Pixabay. 


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Samsung Stores in the Baltic States Now Accept Cryptocurrencies

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Samsung Stores in the Baltic States Now Accept Cryptocurrencies

On Friday, Samsung stores in the Baltic States have announced they will be accepting seven different cryptocurrencies for merchandise. Through a partnership with the payment processing firm Coppay, customers shopping at the Samsung stores in Tallinn, Riga, Vilnius, and Kaunas will be able to pay with BTC, ETH, DASH, NEM, STEEM, XRP, and LTC.

Also read: Philippines Embraces Cryptocurrency: Exchanges Issued Provisional Licenses

Samsung Stores in Three Baltic States Accept Cryptocurrencies

Samsung Stores in the Baltic States Now Accept CryptocurrenciesThe platform Coppay is a European fintech firm that offers payment gateways for cryptocurrency paying customers throughout 31 merchant locations. Now the company has announced that Samsung is truly embracing its slogan to “Turn on Future” by accepting seven different cryptocurrencies. The digital currencies the Samsung stores will be accepting for payments include bitcoin core (BTC), dash (DASH), NEM (XEM), steem (STEEM), ripple (XRP), litecoin (LTC), and ethereum (ETH). 

“Customers in Tallinn, Riga, Vilnius, and Kaunas can buy Samsung smartphones, tablets, laptops, TV-sets, and more with digital money,” explains Coppay’s announcement.

There is a growing trend toward business digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants.       

Samsung Stores in the Baltic States Now Accept Cryptocurrencies
Samsung locations in the Baltic region now accept seven different cryptocurrencies.

Both Samsung and the Baltic Region Are Embracing the Future of Digital Assets

Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors. Regulatory policy in the Baltic region barely exists, except for Latvia, which may impose a 20 percent capital gains tax on cryptocurrency exchanges.

Samsung Stores in the Baltic States Now Accept CryptocurrenciesSamsung also has shown interest in blockchain technology and it’s well known the firm creates semiconductors for cryptocurrency mining devices. The company’s earnings had spiked significantly in 2017 due to semiconductor demand tethered to digital asset mining operations. The payment processor Coppay operates similarly to the firm Bitpay’s platform and merchants are allowed to keep the cryptocurrency from sales, exchange it for fiat, or a combination of both. The company explains the other Samsung merchants will also be adding the crypto-payment feature through their system as well.  

What do you think about the Samsung stores in the Baltic region accepting cryptocurrencies? Let us know your thoughts on this subject in the comment section below.   


Images via Pixabay, Samsung store, Samsung, and Coppay logos. 


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Indian Supreme Court Heard Crypto Petitions Today But RBI Ban Stays

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Indian Supreme Court Heard Crypto Petitions Today But RBI Ban Stays

India’s Supreme Court heard the petitions against the crypto banking ban by the Reserve Bank of India (RBI) today. After hearing some arguments from both sides, the court decided to set another hearing date, allowing some of the regulators involved to respond to the petitions.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Supreme Court Hearing on July 20

Indian Supreme Court Heard Crypto Petitions Today But RBI Ban StaysThe long-awaited hearing at which the Supreme Court of India was scheduled to address all of the petitions against the crypto banking ban by the country’s central bank has finally taken place.

Today’s hearing follows the hearing on July 3 of the petition by the Internet and Mobile Association of India (IAMAI). The court did not grant a stay against the ban at that time. Last week, the central bank responded to a representation by the association but did not change its stance on crypto.

The latest chapter of the courtroom saga did not see an overturn of the ban. The court also did not hear all arguments by both sides. Crypto Kanoon, a platform engaged in crypto regulatory analysis, legal awareness and news, detailed:

Limited arguments were advanced on behalf of IAMAI and RBI today.

Another Hearing Date Set

Indian Supreme Court Heard Crypto Petitions Today But RBI Ban StaysThere are at least five writ petitions filed against the RBI ban. However, according to Crypto Kanoon, “SEBI [the Securities and Exchange Board of India] and few others have not filed their response to the petition seeking regulation…All (remaining) parties to file their reply within 4 weeks.”

Sohail Merchant, CEO of crypto exchange Pocketbits, commented on the outcome of today’s hearing:

Final hearing [is] slated for 11th of September. Now that is the Judgement Day.

According to lawyers familiar with the case, the central bank has been challenged on two grounds. They concern article 19(1) (g) and article 14 of the Indian constitution. The former “allows citizens to enjoy the right to carry on any occupation, trade, or business,” Quartz explained, adding that the latter “prohibits discrimination and mandates equal protection under the law for all.”

P2P Services Live

In response to the RBI banking ban, a number of crypto exchanges in the country have set up peer-to-peer (P2P) services.

Indian Supreme Court Heard Crypto Petitions Today But RBI Ban StaysKoinex launched its P2P platform called Loop on July 17. “Loop is a peer-to-peer fiat to crypto trading platform where registered users can trade in cryptos with other registered users in INR,” the exchange described.

“To ensure user safety, a built-in escrow system is employed which releases the cryptocurrency only after the seller double confirms the exact payment of the trade.” According to its website, the service currently offers the buying and selling of BTC, ETH, and XRP without network or transaction fees.

Last week, Wazirx launched its P2P service, also without network or transaction fees. The exchange recently claimed to have 125,000 users on its main platform after operating for four months. Meanwhile, Coindelta is also preparing to launch a P2P service called Flux.

What do you think of the Supreme Court hearing today? Do you think RBI’s ban will eventually be lifted? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The Daily: Minsk Mulls Rules for Exchanges, Qiwi Awards Employees with Tokens

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The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with Tokens

In today’s Bitcoin in Brief, Belarus, which legalized crypto activities this spring, is now turning its attention to adopting standards for companies operating crypto exchanges and issuing tokens. We’ve covered the decision of the Russian payment provider Qiwi to motivate its employees with tokens. The Daily also features crypto news from China and Canada.

Also read: Anti-Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1

Belarus Working on Standards for Crypto Exchanges

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with Tokens
Belarus Hi-Tech Park

Having legalized crypto-related activities earlier this year, Belarus is now fine-tuning and expanding the regulatory framework. The Hi-Tech Park in Minsk (HTP) is currently developing standards for companies operating crypto exchanges and providers of services related to issuing and placement of tokens. According to media reports, state bodies and representatives of the legal and tech communities in the country are involved in the process.

The new set of rules and regulations is intended to supplement the basic framework outlined in the presidential decree “On the development of the digital economy”, which entered into force on March 28, Denis Aleinikov, senior partner at a Belarussian law firm, told Forklog. He shared details on the progress so far: “We’ve established that a token is not a security […]. Any organization is allowed to issue and sell tokens through residents of the High-Tech Park.”

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with Tokens

The legal expert added that entities in the field will be obliged to prove charter capital of at least $500,000. The standards will also regulate the activities of HTP residents and detail the requirements for those that want to issue and trade digital tokens. The Hi-Tech Park is actively participating in the process after it was granted right of legislative initiative with another presidential decree in June.

Payment Provider Qiwi to Award Employees with Tokens

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with TokensThe blockchain subsidiary of the Russian payment provider Qiwi plans to supplement the salaries of its employees with awards paid in tokens. The motivational program will be launched by Qiwi Blockchain Technologies in the second half of 2018 and will be based on the Russian Masterchain platform. Several dozens of employees will receive their awards in QBT tokens by the end of the year. The subsidiary plans to allocate up to 50 percent of its profit to the program.

The tokens will be divided into two categories. Part of them will come with voting rights, allowing their holders to participate in different company decisions. Employees won’t be able to exchange the tokens for fiat money but will have the opportunity to convert them to corporate bonuses. According to Konstantin Koltsov, Director for Corporate Affairs, the system will allow employees to be directly involved in the company’s development. Qiwi also plans to create a blockchain-based HR platform.

Companies with ‘Blockchain’ in The Name Surge in China

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with TokensIt’s no secret that adding “crypto” or “blockchain” to the name of a company comes with some image benefits. Since cryptocurrencies are not favored by authorities in Beijing, Chinese companies from the crypto sector have been left with only one choice. As a result, China has seen a sixfold increase in the number of new firms registered with “blockchain” in their names, The South China Morning Post reported.

According to an estimate based on government data gathered by Qixin.com, there are now more than 4,000 Chinese companies that identify with blockchain. Over 3,000 firms registered since January use the Chinese translation of the term describing the distributed ledger technology behind cryptocurrencies like bitcoin – “qukualian”. In comparison, their number for the whole 2017 was only 555.

The analysis of the official data has produced another interesting finding – 16,600 companies that were established within the past 12 months had “blockchain” listed as part of their lines of business. SCMP comments that despite the reservations of the Beijing government on crypto exchanges, coin offerings and mining, the interest towards the technology in China remains strong.

Bitcoin Ownership and Awareness Increase in Canada

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with TokensA survey conducted by the Bank of Canada has detected a twofold increase in the number of people owning bitcoin (BTC) over 12 months. About half of crypto owners said they regularly use bitcoin to buy goods and services or transfer money. The Bitcoin Omnibus Survey was carried out in December, when the prices of cryptocurrencies reached all-time highs, but the results were published recently.

According to another study, “Bitcoin Awareness and Usage in Canada: An Update”, the awareness of Canadians about bitcoin increased from 64 to 85 percent during the same period. The authors also found that the residents of the predominantly francophone province of Quebec were the most Bitcoin-aware citizens.

Meanwhile, the province’s state-owned power company Hydro-Québec has been allowed to charge crypto miners and blockchain promoters increased rates until regulations for the industry are introduced. Régie de l’énergie du Québec, the local energy sector regulator, has recently accepted most of the new Hydro-Québec’s demands. A rate of 15 cents (CAD) per kWh, double the tariff for residential clients, will be applied.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, HTP.


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Coinmarketcap Responds to Accusations of Aiding Wash Trading

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Coinmarketcap Responds to Accusations of Aiding Wash Trading

Coinmarketcap (CMC), the web’s most popular cryptocurrency tracker website, has responded to accusations that it is implicit in supporting wash trading. This week, a platform called Crypto Exchange Ranks published detailed allegations of how CMC incentivizes exchanges to report fake volume. In a new blog post, Coinmarketcap has detailed its determination to support “transparency and clarity”.

Also read: How Coinmarketcap Incentivizes Exchanges to Report Fake Volume

Coinmarketcap Cleans Its Shop

“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency DataAs news.Bitcoin.com reported yesterday, Coinmarketcap has been taking flak for blindly publishing suspicious data from certain crypto exchanges. The exchange at the center of the furore on this occasion was a little-known platform called Bitforex that virtually no one had heard of until recently. Through wash trading – simultaneously buying and selling on its own platform to create the illusion of high volume – Bitforex managed to leapfrog into the top 10 according to CMC’s rankings.

Following the story, Coinmarketcap has hit back with a blog post detailing its determination to clamp down on such behavior. It identifies three issues that have been brought to its attention: fee-free/transaction mining models, low fee models, and artificial volumes/wash trading. In regards to the latter, it explains: “In order to ensure that their listings remain active on certain exchanges, sometimes projects are instructed to maintain a minimum level of volume. This causes projects to heavily employ market making services and bots to trade their own coin to inflate their volumes.” It adds:

Even though we try our best to verify the data with the exchanges on our site, we are not in the practice of censoring or policing others. In an open ecosystem like the one we are in, we believe that the best policy – that we follow closely – is to over-provide on data and let users make their own informed choices about what to do with that data.

CMC Changes Its Data Policy

Acknowledging that some entities are blatantly gaming the system, CMC goes on to explain its decision to remove minimum volume requirements for exchanges. What this means, in practice, is that platforms are not required to reach a minimum trade volume to be listed on the site. It is hoped that this will deter exchanges from inflating volume to meet CMC’s entry criteria. The site is also introducing measures such as 7-day and 30-day volume metrics that are designed to prevent the likes of Bitforex from gaming the system.

“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency DataThe crypto tracking website has stopped short of promising an outright ban or downgrade for exchanges that create blatantly fake volume, concluding: “Our philosophy is to provide as much information as possible to our users, so that they can form their own conclusions and interpretations – and not introduce our own bias into that mix.” As of today, Bitforex still stands at 15th place on CMC by 24-hour volume, with $138 million reported, $37 million more than Bitstamp.

Do you think Coinmarketcap’s latest measures to combat fake volume will be effective? Let us know in the comments section below.


Images courtesy of Coinmarketcap and Shutterstock.


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PR: Cozystay Implements Blockchain Technology in the Vacation Rental Sharing Economy

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Cozystay Implements Blockchain Technology in the Vacation Rental Sharing Economy

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Vancouver, BC, Canada – Cozystay Holdings Inc. (Cozystay™) is excited to announce its partnership with Singapore-based Share Everything Lab Pte. Ltd. (SEL) to bring blockchain technology to the vacation-rental sharing economy. SEL is developing a protocol that will decentralize and revolutionize the sharing economy industry. Cozystay, a vacation rental platform that has been operating since 2015, will be the first adopter of SEL’s blockchain-based trust protocols, which will solve critical problems that have plagued the vacation-rental sharing economy so far. Cozystay now has 60,000 users, 200,000 listings worldwide and offices in Vancouver, Canada and Beijing, China. Cozystay has completed $4M USD in seed funding.

Cozystay is the first vacation rental platform targeting Chinese vacationers that is headquartered outside of China. Today China leads the world in global departures, having surpassed the USA and Germany. Cozystay has established several relationships in the vacation rental and blockchain space, including companies such as:
Tujia—China’s largest vacation rental company
Ctrip—China’s largest online travel agent
Capital Airlines—Subsidiary of Hainan Airlines
Caissa Touristic Group—China’s top travel agency.
Tai Cloud—One of China’s largest blockchain technology company

The global vacation rental industry commands a market size of nearly US$130 billion as of 2017, accounting for 18.1% of the global vacation lodging market share. The industry continues to grow exponentially; however, persistent problems remain for hosts and guests alike. SEL’s protocols intend to resolve the following four major pain points:
● Double-Booking
● Security and Fraud
● Review Reliability
● High Fees

The blockchain can provide the foundation of a genuine peer-to-peer sharing economy by providing a trusted transaction platform with no intermediaries. Using blockchain technology to run a sharing-economy ecosystem means no central authority is needed.

Share Everything Lab is positioned to disrupt the vacation-rental sharing economy by working with Cozystay. SEL will grow the ecosystem by inviting industry partners and businesses to join. This innovative approach in building a sharing economy ecosystem will make SEL a leading provider for technology in a rapidly-growing space.

“The success of our growth will come through proper technology and strategic partnerships to slowly evolve from an accommodation-sharing platform to a global sharing-economy website.” —Share Everything Lab

For the latest updates and news, follow Cozystay’s official Telegram account @ https://t.me/cozystay, or on any of their social media accounts.

official Wechat account: CozystayYJ
https://www.facebook.com/cozystayofficial
https://twitter.com/cozystayapp
https://ift.tt/2L9Y5ct
https://ift.tt/2JFmRf8

Cozystay and Share Everything Lab Disclaimer
Cozystay is to provide the technical services to SEL in order to develop the SHR Platform and SHR Tokens. Cozystay will grant a license to SEL for the use of the IPR generated by Cozystay under the Technical Services Agreement; thus, allowing SEL to issue SHR Tokens and operate and run the SHR Platform.

About Cozystay Holdings Inc:
Cozystay Holdings Inc. is a vacation rental platform targeting global Chinese vacationers. Incorporated in January, 2015, the company is headquartered in Vancouver, B.C., with a sales and technical office in Beijing, China. Cozystay runs a subsidiary property management company, Cozy Living Suites Inc.,that manages vacation rental properties in Vancouver, Seattle, Los Angeles and Toronto.

For detailed investment information, email galen@cozystay.com.
Website: www.cozystay.com

About Share Everything Lab Pte. Ltd:
Share Everything Lab Pte. Ltd. (SEL) is a company incorporated in Singapore that will facilitate all token sales and the Token Generation Event (TGE). Cozystay will be providing the technical services to SEL in connection with the development, integration and issuance of SHR Tokens and development and maintenance of the SHR Platform.

For detailed investment information,

email
info@SHREverything.com
Website
https://shreverything.com/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Cozystay Implements Blockchain Technology in the Vacation Rental Sharing Economy appeared first on Bitcoin News.

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Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged

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Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged

At the hour and twenty four minute mark, slightly more than half way in their time together, famed bitcoin (BTC) skeptic Peter Schiff brought the conversation back to his favorite foil: cryptocurrencies are bunk. It was Mr. Schiff’s third appearance on The Joe Rogan Experience podcast, and he took the opportunity to blast the world’s most popular decentralized money, insist a recent debate between him and the CEO of Shapeshift on the subject was rigged, and how he believes BTC’s price will crash further to $1,000 and lower.

Also read: Philippines Embraces Cryptocurrency: Exchanges Issued Provisional Licenses

Skeptic Peter Schiff Blasts Voorhees Debate, Bitcoin

The Joe Rogan Experience (JRE) keeps bringing bitcoin skeptic Peter Schiff back on. And it’s no wonder, as each time the two men hold close to three hour uninterrupted conversations over the last four years, the public seems to eat it up: JRE #445 (2014) not quite a quarter million views, #1002 (2017) has racked up over 1.1 million views, and #1145 (2018), of only a few days ago, already is nearing 700k views.

When all is said and done, over two million people would have been exposed to free market economics and expressly mainstream US libertarian thought — those, and also why bitcoin and cryptocurrencies are horrible bubbles.

Widely acknowledged as a gold bug, Mr. Schiff explained to Mr. Rogan how “… that’s the whole selling point of bitcoin. It’s digital gold.” He further noted BTC does have similar properties, but that its being math and not physical means it ultimately lacks real utility (something like the Greater Fool theory).

“Technically, I lost the debate, but I think it was rigged,” Mr. Schiff then concluded, moving his monologue through a non sequitur. The reference is to a contest on the subject of bitcoin hosted by The Soho Forum in New York City earlier this month, whereby he debated Shapeshift CEO Erik Voorhees. Mr. Schiff blamed his loss on a largely pro-bitcoin audience, which he also assured was told to fib on the initial poll of their true feelings about crypto so as to ensure his eventual defeat.

Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged

BTC Will Fall Thousands More in Price

The format of the debate was such that winners were determined by the percentage grown to a debater’s position — so even if the audience was already in the bag for bitcoin, all Mr. Schiff had to do was convince more of them than Mr. Voorhees. That didn’t happen, and by a lot.

Transitioning on his way to explaining how bitcoiners are cultish (Mr. Rogan described them as very “tribal”), naive playboys living it up in his new home commonwealth island of Puerto Rico, he admitted to having missed out on a pretty radical runup since BTC’s inception to now. He explained the digital asset was “taylor made” for him and his politics, but he “knew” even back then it was something of a scam. He called it a bubble. He also insisted a lot people are destined to be hurt financially.

Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged

Ironically, as Mr. Schiff was once again predicting BTC’s death (something he’s been doing for almost a decade), the price actually rallied to well above the seven thousand mark. Nevertheless, Mr. Rogan followed Mr. Schiff’s line of reasoning, asking, “… you think it’s going down?” Mr. Schiff affirmed enthusiastically, patting himself on the back as knowing bitcoin well enough not to be fooled … as he mistakenly referred to “Satoshi Nakamora” [sic] as its pseudonymous founder (Mr. Schiff is also famous for malapropisms). He ranted, when BTC dips “… and it keeps falling, it goes down to $1,000, or lower, where I think it’s going … that’s going to create a lot of problems.”

Perhaps, Mr. Schiff’s most salient point was when, in his doom scenario, BTC loses a lot of people a lot of money, this will bring in government crackdowns like never before. The fear, he insists, is that such a crash and resulting government response will prove to the public how free markets and capitalism are best served through intense regulation. He believes that will inadvertently buttress hopelessly “flawed” fiat currencies, something everyone in the current debate dreads.

Does Peter Schiff have a point? Let us know your thoughts on this subject in the comment section below.


Images via Pixabay, Euro Pacific Capital, Joe Rogan Experience.


Be sure to check out the podcast, Blockchain 2025; latest episode here. Want to create your own secure cold storage paper wallet? Check our tools section.

The post Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged appeared first on Bitcoin News.

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