Day: February 7, 2018

The SEC’s Office of Compliance Inspections and Examinations plans to prioritize the examination of cryptocurrencies and ICOs in 2018.

Panelists at Yahoo Finance’s crypto event on Wednesday had a message for would-be investors: do your research.

New Monero-mining ADB.Miner worm is rapidly spreading, 7,000 Android devices infected so far. #NEWS

Ever-the cryptocurrency bulls, Tyler and Cameron Winklevoss, have responded to recent regulatory murmurs from Washington with optimism. Rather than fearing the tightening of legislation around digital currencies such as Bitcoin and Ethereum, the two embrace it as much needed for growth in the space. Speaking to Bloomberg Television, Tyler Winklevoss said:

“These technologies can’t flourish and grow without thoughtful regulation that connects them to finance… As long as jurisdictions strike the right balance, we think that its going to be a huge boon and win for cryptocurrencies.”

The twins are hardly passive spectators in the digital currency world. They themselves have a lot of skin in the game. Together, they founded Gemini, a cryptocurrency exchange platform which the Chicago Board Options Exchange uses to settle their recently launched Bitcoin futures market on a daily basis. Despite the recent price pullbacks, the two seemed to express nothing but optimism for the future of the space.

Tyler continued to state that he felt that regulators have been too slow taking cryptocurrencies seriously. He feels that stronger legislation to protect people from potential scams would be positive for the whole space:

“Overall, my complaint would be that regulators haven’t moved quick enough to make clear frameworks and paths forward for legitimate operators… It’s not a coincidence that the price of Bitcoin and Ether keeps going up with more regulated offerings like Gemini… The more these things happen, the better its going to be for cryptocurrencies.”

Later today, the pair took to another news network to continue espousing bullish sentiment about the Bitcoin. Speaking to CNBC in response to yesterday’s hearing in Washington about tightening regulation surrounding cryptos, the two reaffirmed their commitment to the technology. Cameron explicitly compared Bitcoin itself to gold, arguing that owing to its “better” qualities, it would not be surprising to see the market cap of the planet’s most popular cryptocurrency overtake that of its oldest store of value:

“Taking bitcoin in isolation … we believe bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. Its sort of equals a better gold across the board.”

For the two, it would come as little surprise to see Bitcoin reach 40 times its current price point. Calling Bitcoin an “underappreciated asset”, Cameron continued with his future predictions to the publication, touching on how irrelevant central banks (an industry from which cryptocurrency’s most vehement naysayers are typically drawn) will be to a future economy:

“Cryptocurrencies aren’t really important for human-to-human transactions … but when machines-to-machines trade economic value, they are going to plug into protocols like bitcoin and ethereum. They are not going to open bank accounts at J.P. Morgan … those were invented by bankers before the internet existed. Trying to use them as payments or money on the internet is a square peg in a round hole at best.”

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The post Winklevoss Twins on Crypto: “Regulators Haven’t Moved Quick Enough” appeared first on NewsBTC.

Even though E-Coin started out as a mere joke in the world of cryptocurrency, the project is still going strong. Fans of the “Mr. Robot” TV show will be all too familiar with this new “currency”. Amid the current market volatility, E-Coin is the only cryptocurrency to have noted any significant gains over the past few days. At its peak, it was even up by as much as 332.22%, although things will return to normal once again. It’s always important to see the humor in these things, especially when there’s nothing else to be overly happy about.

E-Coin is Destroying all Cryptocurrencies

While the E-Coin portrayed in “Mr. Robot“ does not exist in the real world, it is a real thing in the world of cryptocurrency. E-Coin was created quite some time ago, yet it has flown under most people’s radar, for obvious reasons. No one takes this currency even remotely seriously, yet some of its holders have made a nice profit from getting in early. Without sufficient trading volume, ECN will never amount to much, but that doesn’t mean there aren’t spectacular gains to be had either.

It is worth noting that the E-Coin cryptocurrency has a non-working website as of right now. Thankfully, its Bitcointalk thread is still active, which allows us to briefly state what the currency is all about. It’s a decentralized and proof-of-stake-based cryptocurrency. Similar to how the currency works in “Mr. Robot”, ECN will turn into an interest-bearing asset with a 120% annual return due to the proof-of-stake aspect. It’s not a unique model by any means, but it does seem to have attracted investors regardless.

The big difference between ECN and Mr. Robot’s E-Coin is that the former’s code is completely open source. In the TV show, everything is kept under tight wraps, with no information being made public and a centralized entity in control, whereas this “offspring” is public and open source. There was also an ICO for this project, although it remains unclear how much money was raised during this campaign.

Even though E-Coin – the crypto version – never gained any major traction, it has seen some insane gains despite basically no trading volume. According to CoinMarketCap, the E-Coin price has increased by 332.22% over the past 24 hours. This has catapulted the value of 1 ECN to US$20.73, which is well above what this coin should be worth in its current form. Do keep in mind all of this was achieved with just US$9,337 in 24-hour trading volume, which is next to nothing.

Finding a market where one can trade E-Coin is pretty difficult as well. CoinExchange is your best bet, yet it is one of the smaller players in the world of cryptocurrency right now. As E-Coin’s exchanges are less “trusted” and generate little to no volume, it seems the price will return to normal pretty soon. It is interesting to see such massive price gains when everything else is crashing and burning, though.

These solid gains also represent a 464.07% increase in the ECN/BTC ratio. That in itself is pretty spectacular, although with no trading volume to speak of, price manipulation on this scale is rather easy to perform. While it does provide some comedic value, it is something most people will forget about soon enough once things return to normal. We can only hope the new normal means major cryptocurrencies will appreciate in value once again. Right now, things are not looking all that promising.

The global energy sector is being transformed by innovative projects powered by Blockchain technology. #BLOCKCHAIN

What is the first thing that comes to your mind when it comes to the webcam industry and problems such interest can cause?

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It’s probably security and safety of your data.

There is a lot of secrecy and privacy surrounding the webcam industry, but more than that, there are also concerns involving credit cards and the paper trail they can leave behind.

There is now however a new solution that does not only hits all these marks, but does it using the revolutionary power that is “Blockchain technology”.

The information that gets collected by webcam services includes not only credit card details, but also its users’ activities, their time and history on such sites, and personal preferences. But, with the use of Blockchain technology, all this can be done anonymously.

To use the service you have to purchase “LIVE” token which can only be purchased with the other cryptocurrency. There is also no need to worry about the data stored on the servers since the service is provided with peer-to-peer streaming connection technology.

Live Stars not only looks to make the webcam experience better, and more secure for users, it is also looking at improving the conditions for the Cam models. Money that comes in for the models is often unfairly distributed and taken by site owners and other players.

But who actually makes this business this entertaining?

The answer is pretty obvious. Of course it spins around the models, so shouldn’t they get at least 50% of the revenue? Live Stars promises to share over 70% of the earnings with the models, while its’ main competitors offer from 30% up to 50% of the revenue.

The platform also cuts down on all the red tape in between, such as payout delays. Users need only buy the tokens, spend them, and they reach the model as easily as that.

Live token sale

Live Stars raised almost $2m in less than a week, however the token sale is still live until Valentine’s Day on February 14th. Within the Live Star team there are five areas of expertise that are covered. This team will continue to grow as the first stages of development roll out; there are plans for a Beta-version by Spring of 2018.

You have probably heard about many projects, which could be done without the need to implement Blockchain technology.

Webcam industry on the other hand was waiting for the perks of being Blockchained for ages! Visitors are staying anonymous while models are saved from being deceived and that’s a win-win for both sides of the business. Furthermore, the platform gets totally automated and transparent.

Live Stars has already managed to navigate the ICO entrance with over $2 mln raised in a week, and as they continue one, it looks as if they will be able to follow up on their intentions as they already have a functioning Alpha site.

Scrolling through the site, looking for more information, one will already find a number of rooms up and ready to go, with at least one or two girls live and participating on the platform.

Even the chat boxes on the site and in the rooms are already accruing a burgeoning community of anonymous players.

Various banks around the world now prevent their own clients from making specific credit card purchases. This is not a positive development by any means. At the same time, it only further confirms how little control people have over money. In the US, four major banks now prevent their customers from buying Bitcoin with a credit card. This applies to the Coinbase exchange, and potentially others as well.

4. Capital One

Most people know the name Capital One, as it is one of America’s biggest banks. They also run a wide variety of advertisements on television to showcase the versatility of their banking services. Unfortunately, users who have a credit or debit card issued by Capital One will have a lot of problems when it comes to purchasing Bitcoin as of right now. The bank made the unfortunate decision to block all Bitcoin-related card transactions for the foreseeable future.

3. Chase

It is evident JPMorgan has never been a big fan of Bitcoin. When company CEO Jamie Dimon called Bitcoin a fraud, most people knew this bank would be in line to block all cryptocurrency-related activity on its platform at some point. That decision didn’t take long, as JPMorgan Chase customers cannot use their payment cards to purchase Bitcoin from the Coinbase exchange. Rest assured this “ban” will extend to other exchanges in the near future.

2. Citi

With other major players turning their backs on Bitcoin, Citi has had no choice but to follow their lead. Although the company never publicly stated it prevents customers from buying Bitcoin with a credit card, that does appear to be the case in the US right now. It is another problematic development in the fight between financial institutions and cryptocurrency. Rest assured this will not be the last time we see banks take such a harsh stance against Bitcoin either. This industry has been a thorn in the side of banks for quite some time now.

1. Bank of America

When America’s flagship bank decides to pull the plug on Bitcoin purchases, things are not looking all that good. With BoA actively blocking customers from buying Bitcoin with a credit or debit card, it is evident obtaining this elusive cryptocurrency will need to involve a bank transfer, which makes the whole ordeal a lot more time-consuming and far less convenient. Whether or not these decisions will dissuade BoA customers from buying cryptocurrencies remains to be determined.

What can Users do to Bypass these Restrictions?

For people who must purchase Bitcoin or other cryptocurrencies with a payment card, there is very little they can do right now. Switching financial institutions is always an option, but it is evident this problem is not just with the banks themselves. Both Visa and Mastercard have made it very clear they do not take kindly to any cryptocurrency-related transactions happening on their networks. Whether third-party card providers or consumers are buying Bitcoin, it’s something both companies will actively try to prevent from happening as much as possible.

Additionally, we have seen multiple US-based banks block wire transfers to and from cryptocurrency exchanges as well. The banks will not give up the fight against cryptocurrency all that easily, as they hold all of the cards right now. With payment cards and wire transfers not an option in some cases, the only alternative is buying or selling Bitcoin with cash. That’s far from an ideal situation, but it’s a viable option for smaller amounts these days. Especially with all prices plummeting, it is only normal that people will try to explore the cash option even more than before.

Forget about the cryptocurrency correction, stock markets have lost $4 tln in value in the past seven days. #ANALYSIS

Venezuelan President Nicolas Maduro has proposed “joint cryptocurrency mechanism” for use by OPEC members and non-member oil producing states.

There is a big hurdle in crypto adoption that is prohibiting the growth of digital currencies across the world. It is difficult for most laypeople to obtain digital assets in the first place.

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Even though acceptability of Bitcoin and other cryptocurrencies has greatly improved since their earliest day, as reported in the latest Bitcoin News, there are still a lot of problems that users have to face in actually getting their hands on cryptocurrencies in the first place. On the other hand obtaining fiat is pretty straightforward, simply walk into a bank or a cash machine and withdraw some.

Cointed, a company founded in 2015 by Christopher Rieder and Wolfgang Thaler were motivated by the principle that access to cryptocurrencies should be as easy as possible. In this their founded company has worked to put many bitcoin ATMs, making it easier for people to obtain digital assets. Cointed also facilitates payment processing in cryptocurrencies and in conversion of crypto assets and fiat for users.

The proof of the pudding

Cointed, an established business is now in the process of raising funds through an initial coin offering (ICO). They are the largest provider of multi currency ATMs in Europe. This will help them capitalize on the revolutionary growth of cryptocurrencies in the future. The funds raised from crowdfunding will allow them to expand product development and help better the payment experiences that users have with digital cash. While there is no shortage of ICOs in the market, what sets Cointed apart is that they have chosen to give a high priority to transparency, so that the process is investor friendly. In ensuring that everything is crystal clear, Cointed have released their transparency report, the report contains relevant information on the company, their management structure, product and service offerings and the company’s assets. The report was created after working with independent auditors to ensure verifiability. The business model of the company according to the report revolves around providing services like multi-cryptocurrency ATMs, Payment Solutions, An online exchange and Green Mining.  The main holding is already established in Hongkong

There are subsidiaries in Austria, Switzerland, Sweden, Turkey, Cyprus, Hungry and Spain. The Hong Kong company was founded in 2017 by Wolfgang Thaler, Christopher Rieder, Daniil Orlove and Charli Aho. In order to complete the move from Austria to Hong Kong, share ownership will be transferred from Cointed Austria to the Hong Kong entity.

Clarity of Operations and Plans

The attempt by Cointed to present a clear picture of their business is a move set to inspire confidence in their crowdfunding. The report goes through various parameters of their business operations including ATM operations in details. It also carries details of their exchange and online platform as well as Green Mining. There are details of cooperations with other businesses in provisioning of various services related to both ATMs as well as others. Future business plans like issuance of crypto debit, credit cards and gift cards starting Q1 2018 are also mentioned in the transparency report.

Cointed tokens gateway to payments industry

The ongoing Cointed ICO that is set to end on February 28, 2018. Investors can purchase Cointed Tokens (CTD) at a fixed token price of between 1000-1150 CTD to 1 ETH (Ethereum). Details on participation in the crowdsale are available on the cointed token website. A total of 650 mln CTDs would be generated. There is no limits on maximum token purchase. Anyone can participate in the sale except permanent residents of Hong Kong, People’s Republic of China and the United States. A whitepaper with all the details of the crowdsale has been released by the company. CTD token holders would get a democratic voice in the community as they would get a vote on a number of company’s business decisions. Token holders would also be able to use CTD for transaction fee on ATMs and get discounts as well if they purchase an ATM as a partner. Other benefits include white labeling solutions, reduce trading fee on the cryptocurrency exchange run by Cointed and reduced fee on the PAYCO system. There are plans to extend benefits like discounts on mining hardware and making available mining rigs with increased hashpower that can only be purchased with CTD. Holders of CTD will also be able to purchase Cointed’s in-house developed BIOS. Token holders also get discounts on all purchases at the Cointed online shop.

Cointed estimates that the payments industry revenue will reach nearly USD 2 tln by 2025, as a comprehensive provider of diverse payments solutions, the company is holding a crowdsale not only for its own future growth but also to build a community that can benefit from the tremendous potential that the industry holds over the coming year. The transparency report that they have released is also a good example for other crowdsale holders to be more upfront with their business plans and to put everything in front of the investor so that they can carry out due diligence.