Day: November 19, 2017

Have you used a Bitcoin ATM before? The next generation of BTM is here.

The notorious former U.S. congressman, Ron Paul, is now telling FOX Business viewers to invest in bitcoin through an individual retirement account called Coin IRA. The staunch libertarian and gold bug makes his appearance on a nationally televised commercial telling millions that he’s “excited to see what bitcoin opens up.”

Also read: Internet Archive Adds Bitcoin Cash and Zcash for Donations

Libertarian Ron Paul Hopes to End the Central Banking Monopoly

Ron Paul is a former Texas congressman who is well known for spreading the beliefs of libertarianism during his multiple runs for the U.S. presidency over the past decade. Paul has always had different opinions than most of his fellow politicians, as the congressman has always been against war, bolstered sound economics and alternative currencies, and has relentlessly ridiculed how big government has grown. Moreover, Paul has always been against the central banking system and thinks gold and more recently cryptocurrencies can help defeat the monopoly on money.

“It is no coincidence that the century of total war coincided with the century of central banking,” explains Paul in his critically acclaimed book called ‘End the Fed.’

Ron Paul: ‘I’m Excited to See the Options That Bitcoin Opens Up’

Since being a believer in precious metals, over the past year or so Paul has been favoring bitcoin lately in his discussions. Now the former politician appears in nationally televised commercials for the company, Coin IRA, a firm dedicated to cryptocurrency-based retirement accounts. The company is also a subdivision of a precious metals management firm called Goldco. Coin IRA offers cryptocurrency portfolios consisting of bitcoin, ethereum, litecoin, and ripple. Paul’s commercial targets an older crowd who would typically invest in commodities like gold. During the one minute long commercial Paul explains he’s looking forward to the cryptocurrency revolution saying;  

As a firm believer in currency competition, I’m excited to see the options what bitcoin opens up.

Bitcoin: ‘The Destroyer of the Dollar’

Across forums and social media, bitcoin proponents were pretty thrilled that Ron Paul is now ‘shilling’ for bitcoin retirement funds on television. “Yes, bitcoin will hasten the end of Rome — Of course, Rome is Washington DC these days,” writes a Ron Paul fan on Reddit. Of course, many of them agree with Paul’s view that bitcoin could be one of the tools that can ultimately decimate the U.S. dollar. Paul has emphasized this opinion during bitcoin’s first significant price spike that gained worldwide attention, as the Congressman explained at the time;    

There will be alternatives to the dollar, and this might be one of them — If people start using bitcoins en masse, “it’ll go down in history as the destroyer of the dollar.

Now as a spokesperson for Coin IRA commercials, it seems Paul has no problem selling the idea of bitcoin and the progression of alternative digital currencies. He says if people have done their crypto-research and are ready to invest in bitcoin and other cryptocurrencies then they should learn about the retirement options available.   

Check out Ron Paul’s bitcoin IRA ad below. 

What do you think about the libertarian and economist Ron Paul’s commercials for Coin IRA? What do you think about him promoting bitcoin retirement funds now? Let us know what you think in the comments below.

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Images via Pixabay and Ronpaul.com. 

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The post ‘End the Fed’ Evangelist Ron Paul Plugs Bitcoin IRA for Retirement appeared first on Bitcoin News.

The Gig economy is becoming the future of employment and freelancing. There is a shift around the world from hiring full-time employees every time to hiring specialists to do the job in a limited time frame. The gig economy was fueled by the rise of popular freelancing and gig platforms like Upwork and Fiverr, but they are both tightly controlled by these companies and take a mammoth 20% of the project money as their fees. Latium is announcing an ICO for a new platform to decentralize the gig economy and introduce proprietary AI for crucial automation.

Disclosure: This is a Sponsored Article

Now, one thing is for sure: a decentralized gig economy-based platform has to have automation at certain levels of the playing field or it will be difficult to function without a support staff. As you know, there are other such companies out there making claims about decentralization and freelancing, but the reality is that many of them are unable to fully automate the right part of their processes thus leaving gaps in their implementation.

Latium is the world’s only platform that determines the reputation score of a user or freelancer with the help of pre-programmed AI and “one-to-many” task relationship structure. Latium aims to become the first successful and scalable crypto freelance portal where you can pay with cryptocurrencies.

The project is currently backed by several credible names in the field of computer science — including John McAfee. According to him, Latium’s product is one of the finest bits of innovation in the crypto world he has seen in recent years, and is likely to become the first major decentralized freelance platform in the world to provide competition to the likes of Fiverr and Upwork.

The much-hyped AI by Latium uses its proprietary code to assign reputation scores to both task-makers and task-doers, making the entire process unbiased and automatic. It is difficult in the current gig-based platforms to come to a universal ranking system that works for all. In most cases, there is a conflict of interest towards the ranking of individuals with task-makers or clients being given the benefit of the doubt.

“The Latium platform revolutionizes how people earn money and opens up access to the cryptocurrency market to anyone seeking income, but who doesn’t know where to start in crypto,” said Latium Co-Founder and CEO, David Johnson

Initial Coin Offering and Launch

The LATX token will undergo a limited “white list” sale from from November 15, 2017. The main token sale will start from November 28, 2017 and 180 million tokens are available for the public. The total funding target is going to be $20 million.

The new platform is slated for a Q2 2018 launch — and there is a lot of anticipation around the project and its potential success.

To learn more about Latium, visit their official website.

Latium is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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ICOs have been executed for cryptocurrencies with diverse applications – from supporting the cannabis industry to Trump’s election campaign. The latest to join the ICO bandwagon is Christopher Woodrow, who has produced movies like the Oscar-winning Birdman and Hacksaw Ridge.

The launch of Bitcoin Cash has been a mixed bag for the overall cryptocurrency community. It is clear that Bitcoin Cash will remain an altcoin with the Bitcoin name attached for quite some time to come. However, the launch of the Bitcoin Cash Fund may shake things up quite a bit. It is an interesting venture, to say the least.

The Bitcoin Cash Fund is Intriguing

In the world of cryptocurrency, community members and investors often look to developers to sort out everything related to a specific currency. Whether it is coding, marketing, developing new tools, raising awareness, or even speaking at conferences, developers are expected to do everything these days. That is not a sustainable vision for the future, as developers should be allowed to focus on the coding aspect of their jobs first and foremost. This is why the Bitcoin Cash community is working on a venture known as the Bitcoin Cash Fund.

This idea started out as a venture to “crowdfund” US$200 worth of BCH to produce a short animation video about BCH and publish pamphlets to raise additional awareness. So far, the Bitcoin Cash Fund has received over US$17,000 from various sources. This means a lot of money has been raised to market this altcoin. With a few dedicated volunteers on board as well, things are looking bright for this initiative.

It is good to see the Bitcoin Cash community come together at such an important time in the history of this cryptocurrency. Right now, most people focus on the speculative side of BCH, but it is obvious there is a lot more to this currency than most people give it credit for. Pushing for increased adoption will not be easy, even though things have steadily progressed in that department. This will be the main focus of the Bitcoin Cash Fund moving forward, as the community-driven effort seeks to push BCH adoption to new heights.

One of the key areas to address immediately is ensuring the Bitcoin Cash Fund remains efficient and effective. With nearly 100 volunteers already dedicating their time and effort, things are off to a good start. However, there is still no framework to process donations to the Bitcoin Cash Fund and then to the community in exchange for their involvement. Considering the need to be as decentralized and transparent as possible, a proper approach will need to be found.

The current plan of action doesn’t revolve around the Bitcoin Cash Fund handing projects down for community members to work on. Instead, it will work the other way around. Community members will be the driving force behind new projects, which means they are free to come up with crazy ideas as they see fit. It’s a solid approach, assuming there will be enough proposals to ensure adoption can be achieved. Moreover, project leaders can put in proposals for funding, which will then be filled by the Bitcoin Cash fund.

It is certainly true there are still a lot of details yet to be worked out. Governance of the Bitcoin Cash fund, for example, will be a critical area to tackle. A two-of-three multisignature wallet address will be created to set things up initially. As this project scales, other solutions may need to be considered, though. Three board members will be running the show for the time being, but this is also subject to change as time progresses.

The bitcoin price has officially achieved a new all-time high price at $8,100, surpassing its previous high at $8,050 established earlier this week.

$10 Billion Awaiting to be Invested in Bitcoin

Analysts have attributed the recent surge in the price of bitcoin to the global bitcoin market’s optimism towards the launch of bitcoin futures by CME and CBOE, two of the largest options exchanges in the world, given that hedge funds including the $95 billion firm Man Group have announced their short-term plans of investing in bitcoin upon the launch of CME’s bitcoin futures exchange debut.

Upon the release of Coinbase Custody, a custodial platform which enables large-scale institutional investors to invest a minimum amount of $10 million in bitcoin and other digital currencies, Coinbase CEO Brian Armstrong revealed that there exists at least $10 billion in institutional money, or “money on the sidelines,” waiting to be invested in bitcoin.

“Over 100 hedge funds have been created in the past year exclusively to trade digital currency. An even greater number of traditional institutional investors are starting to look at trading digital assets (including family offices, sovereign wealth funds, traditional hedge funds, and more). By some estimates there is $10B of institutional money waiting on the sidelines to invest in digital currency today,” said Armstrong.

The $10 billion figure represents the minimum hedge fund managers are allowed to invest in bitcoin. In the upcoming months, depending on the success of CME’s bitcoin futures listing and other trading platforms such as LedgerX, the bitcoin derivatives, options, and futures exchange approved by the US Commodities and Futures Trading Commission (CFTC), total institutional money allocated into the bitcoin space in the short-term could increase significantly.

No Uncertainty Ahead

The global cryptocurrency exchange market has stabilized since the past week, as the price of Bitcoin Cash declined to $1,200. Trading volumes of bitcoin and Bitcoin Cash, which remained above $10 billion, have come back to the $1 to $3 billion range.

In consideration of the termination of the SegWit2x hard fork and the lack of community support for the Bitcoin Gold hard fork that was supposed to occur last month, bitcoin has no uncertainty ahead that could lead to a major price correction. As such, the market has demonstrated absolute confidence in the mid-term growth of bitcoin, as shown in the recent price trend of bitcoin.

In the upcoming months, by early 2018, several analysts predict the price of bitcoin to achieve $10,000, based on the CME futures contracts. As tens of billions of dollars flow into the market at a rapid pace, the price of bitcoin will likely surpass the $10,000 mark with ease at this rate.

The post Bitcoin Price Achieves New All-Time High at $8,100, Market Confident in Institutional Investors appeared first on NEWSBTC.

It’s a reward!

In the world of blockchain technology, the number of projects is increasing at an accelerated rate. New Economy Movement is one of those early blockchain startups which has gained wide recognition as of late. The team has announced a new “proposal” which goes by the name ioNEM. Its main purpose is to provide transferable and on-chain Internet of Things ownership using NEM technology. It’s an interesting idea, but how does it work exactly?

The ioNEM Concept Mainly Focuses on IoT

It is evident to everyone that there is a bright future ahead when the Internet of Things meets blockchain technology. This is especially the case when it comes to ensuring that the IoT industry receives a higher degree of decentralization. Contrary to what most people may think today, most IoT infrastructure relies on centralized servers in order to remain operational. From a security point of view, that is absolutely unacceptable.

Using the blockchain to alleviate some of these concerns is an option well worth exploring. That is exactly what New Economy Movement is doing through its ioNEM project. This new “tool” will allow for facilitating the ownership of IoT devices on-chain. Additionally, it will help to control, manage, and secure the daily use of these IoT devices off-chain. The latter functionality will be performed securely and without fees. Last but not least, ioNEM may introduce communication between different devices through the blockchain. It’s an interesting concept, assuming it works as advertised.

The use cases for this technology go well beyond communication and ownership, though. It is not unlikely that a lot of early-generation IoT devices will break down and need replacing sooner or later. Most users wouldn’t ordinarily be aware their devices weren’t functioning properly, but if they were to receive some sort of warning, a lot of issues could be resolved. ioNEM would, in theory, be capable of notifying device owners about such problems, placing orders for replacement parts, and outlining the associated costs. If the user approves, one’s devices can be fixed without too much friction.

As one would expect, ioNEM will only work when many puzzle pieces fall into place. In the team’s recent blog post, they outlined how the various cornerstones of this ecosystem will have to come together if this project stands a chance to succeed. It is a pretty big deal to bring more mainstream use cases to existing blockchain technology solutions; that much is certain.

At the same time, one has to acknowledge that implementing this bold idea may not go off without a hitch either. In fact, the project will require IoT devices to natively support it in one way or another. It is doubtful most manufacturers would even consider this possibility unless it were tried and tested. Moreover, the fragmented IoT manufacturer space will not make this any easier. It appears the ioNEM team wants to give people the tools to implement this new protocol into their devices themselves.

While that is a commendable course of action, it doesn’t guarantee mainstream adoption whatsoever. In fact, this may always remain a niche project, which a few people will experiment with. There will always be a community dedicated to ventures such as ioNEM, but its large-scale adoption remains a big question for the time being. Despite the challenges, it is good to see more projects focused on uniting the power of Internet of Things with blockchain technology. Whether or not ioNEM will be a big hit remains to be seen, though.