Day: August 31, 2017

Graphics cards are of great interest to cryptocurrency miners. Albeit they don’t use this hardware to mine Bitcoin, GPUs still have their place. Especially when it comes to mining some of the popular altcoins, there is no other option. Monero, Ethereum, and ZCash are just some of the currencies people mine with AMD GPUs these … Continue reading AMD’s New Vega 56 GPU Sells out Quickly Thanks to Cryptocurrency Miners

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After the Chinese government set out guidelines on ICOs and money capital raising, NEO-based decentralized platform Red Pulse has decided to blacklist Chinese citizens from its upcoming ICO.

Bitcoin prices are breaking above $4,700 again, just a day after the cryptocurrency’s previous all-time high.

BitcoinIRA, the company that allows users to create retirement funds based on cryptocurrencies, is adding new options to its portfolio.

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Startups get a much-needed platform to raise funding through the ICO route as Cryptonomos offers crucial turnkey solutions.

Kim Dotcom is on the hunt for “Blockchain gods” and “digital Picassos” as he seeks to develop his Bitcache platform.

The previous Bitcoin price bull run hasn’t even stopped and the next one is already on the charts. In a somewhat surprising turn of events, the Bitcoin price suddenly started showing a lot momentum and now hovers around the $4,660 mark. This is great news in general, as we are also getting closer to finally breaching the 4,000 Euros mark for the very first time. New all-time highs and milestones are coming to Bitcoin, that much is evident.

Bitcoin Price Momentum Just Carries On

It is not entirely surprising to see the Bitcoin price show some movement, but the matter in which it happens is somewhat unusual. For the second day in a row, the Bitcoin price shows signs of sudden movements without any previous warning as to when a price jump could occur. Although the general sentiment is how the value will continue to go up for quite some time to come, no one knows for sure when and where this trend may end. Right now, it certainly looks as if $5,000 is well within reach, even if the time frame is still unclear.

With another 2.9% jump in the past 24 hours, no one can deny Bitcoin is literally tearing up the charts. More specifically, the Bitcoin price keeps setting new all-time highs on a nearly daily basis this week. After the previous weeks had a lot of bullish momentum as well, it is evident this price spike is no mere coincidence whatsoever. Instead, it is clearly a sign of what the future may hold, as it is only a matter of time until we see a BTC value of $5,000.

With over $1.7bn in 24-hour trading volume, the main focus lies on buying Bitcoin and converting altcoins back to BTC right now. One would expect the top 10 alternative cryptocurrencies to suffer less from major Bitcoin price gains, but that is not always the case. However, it seems most of these currencies are also appreciating in value as we speak, even though there will be a fair bit of volatility for the next few hours at least. It rarely happens the entire top 10 turns green at the same time, but today is one of those rare days.

Speaking of the Bitcoin trading volume, the top 10 is a mix of fiat currencies and altcoins. Notable altcoins generating a lot of BTC volume include Ethereum, Monaco, OmiseGo, Bitcoin Cash, and NEO. The fiat currency markets, on the other hand, see plenty of USD, CNY, JPY, and KRW trading action. It is a more than healthy mix of different assets to buy and sell Bitcoin on a global scale. After all, Bitcoin is still a global cryptocurrency, whereas traditional financial tools are somewhat limited in their approach and usefulness. All of the top markets see volume well below $100m each, but they are only separated by $20m in total.

For the time being, one can easily say the Bitcoin price is on everybody’s radar. Even the naysayers-  including professor Bitcorn – will have to admit Bitcoin is a force to be reckoned with. Right now, it is an unstoppable bull in a china shop without concerns over breaking a few objects whatsoever. This price action is very wild, but it all seems to be well-coordinated at the same time. No single platform shows a major lead over others right in terms of the Bitcoin price, reducing arbitrage opportunities to nearly zero.

A lot of people will look at this current price and think it’s too late to get involved in Bitcoin. Rest assured there’s never a bad moment to purchase your first Bitcoin or a part of one. Even at these prices, we have only just begun the rally toward greatness. No one knows where this Bitcoin price will end up in five or ten years from now. Bitcoin may not necessarily replace the US Dollar, but it is certainly making the currency look like Monopoly currency at this rate. In fact, one US Dollar is worth just 0.000215 BTC right now.

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The Financial Commission has established a panel of purported fintech experts to issue certification and assess the merits of prospective initial coin offerings (ICOs). The independant body has been named the ICO Certification Committee, or ICC.

Also Read: Chinese Regulators Consider Crackdown on ICOs

The Financial Commission Has Established an Independent Body Tasked With Certifying Initial Coin Offerings

The Financial Commission, an independent body that certifies trading technologies and conducts procedures for external dispute resolution for the forex industry, has established a committee tasked with certifying new ICOs. The ICO Certification Committee will comprise an independent self-regulatory organization backed by the Finance Commission’s Dispute Resolution Committee. The ICC will assess initial coin offering according to a yet to be disclosed set of criteria.

Peter Tatarnikov, chairman and founding member of the ICO Certification Committee, has articulated the circumstances leading up to the establishment of the ICC, in addition to its goals. ”The ICO certification service was a natural addition to our existing technology certification service for Fintech companies. cryptofinancing via ICOs is skyrocketing in popularity yet the process is still ridden with challenges for issuers and investors – so the need to establish best practices for Fintech companies seeking capital raises via cryptofinancing was needed and Financial Commission is pleased to now offer certification to eligible firms seeking to do an ICO.”

The Establishment of the ICO Certification Committee Comes at a Time of Intensifying Scrutiny From Governments

The ICC is expected to act as an extension of Financial Commission, which comprises an independent dispute resolution and self-regulatory body for the forex industry. It is expected that the ICC will largely operate in the interests of forex brokers, and seek to develop criteria by which to assess the risks associated with facilitating the trade tokens or derivatives associated with initial coin offerings. The Financial Commission’s external dispute resolution services are not registered or regulated within any jurisdiction.

The establishment of the ICO Certification Committee comes at a time of intensifying scrutiny from governments with regards to initial coin offerings. The United States Securities and Exchanges Commission (SEC) recently issued a warning aimed at ICOs that may be conducting the unregistered distribution of securities, with Canadian and Singaporean financial regulators quickly echoing the SEC’s position. It has also been revealed that Chinese regulators have been discussing measures designed to crackdown on the ICO industry, including the consideration of a complete suspension of all initial coin offerings being conducted within China.

Do you think that we are likely to see more self-regulatory bodies pertaining to cryptocurrency and ICOs? Share your thoughts in the comments section below!

Images courtesy of Shutterstock and Financial Commission

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