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Report: Ethereum Becomes More Popular Than Bitcoin in India

Interest in cryptocurrency has not diminished whatsoever. Over in India there has always been a vibrant Bitcoin ecosystem. It now seems the focus is slowly shifting to Ethereum for some reason. It has been the most searched cryptocurrency in the country over the past five months. The Rise of Ethereum in India There is a

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Interest in cryptocurrency has not diminished whatsoever. Over in India there has always been a vibrant Bitcoin ecosystem. It now seems the focus is slowly shifting to Ethereum for some reason. It has been the most searched cryptocurrency in the country over the past five months.

The Rise of Ethereum in India

There is a lot more to the cryptocurrency industry than just Bitcoin. Various altcoins are making their impact on the industry as well. Ethereum is perhaps the biggest “contender” in this regard. Statistics in India seem to indicate the general public is more interested in this particular currency. This trend has materialized over the past five months and is not slowing down just yet.

More specifically, searches for Ethereum in India represent 34.4% of all searches. Bitcoin, on the other hand, comes in second place with 29.9%. It may not seem like a big difference, yet it does set the overall tone in the country. In the rest of the world, people seemingly have high hopes for Ethereum as well.

Other than BuyUCoin – the name for NEM in India –  the rest of the currencies are not too popular. Dash is leading the pack with 5.3% of all searches. It goes to show this report by internet provider Jana is rather intriguing to keep an eye on. Whether or not this information will have any impact on the prices of these currencies, is a different matter altogether.

Determining the Future of Cryptocurrency

With cryptocurrency regulation still being worked on India, the future remains a bit uncertain for the industry. Depending on how the government tackles this form of money, there may be more competition or less innovation overall. There is no official deadline as to when new regulations can be expected.

With the interest in Ethereum surging, exchanges listing this altcoin may see a lot of new users. That is, assuming this interest in the currency holds up for quite some time to come. The latest five-month popularity increase is pretty interesting, but it only tells part of the story. Even so, some big changes may be on the horizon for Ethereum overall.

Bitmain’s recent Ethereum mining ASIC may help shake things up. With this hardware, Ethereum’s mining aspect will come under even more scrutiny. The developers have hinted at switching to proof-of-stake for some time now. It is possible this deadline may be moved ahead, assuming that is even feasible to do.

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Hull: The UK City Offering Its Own Cryptocurrency

Hull, the UK city situated in the East Midlands with a population of 260,200, has become the unexpected innovators of its own cryptocurrency, dubbed HullCoin. Hull? Perhaps not the first location pundits expected to see initiating its own cryptocurrency, Hull has nonetheless implemented HullCoin successfully and with the widespread endorsement of the city’s residents. The official website …

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Hull, the UK city situated in the East Midlands with a population of 260,200, has become the unexpected innovators of its own cryptocurrency, dubbed HullCoin.

Hull?

Perhaps not the first location pundits expected to see initiating its own cryptocurrency, Hull has nonetheless implemented HullCoin successfully and with the widespread endorsement of the city’s residents. The official website describes HullCoin as ”the world’s first Community Loyalty Point”.

The entire supply of 10 million HullCoin was pre-mined by the founders, who are also in control of the supply. The coins are issued to individuals who partake in activities beneficial to the city of Hull, such as volunteers, health service providers and community support organizations.

While there are locations such as Dubai that manage their own official cryptocurrency, HullCoin is a unique endeavor in being a local currency with the primary purpose of rewarding positive community participation.

The project has gained support from the National Health Service (NHS), as well as local institutions including Hull City Council, Hull College and the local department of work and pensions. In total, 140 retailers in the city are currently accepting HullCoin.

If the project is seen as a success, it is possible more UK cities would pursue their own form of digital currency. However, the UK does not have a particularly favorable attitude towards cryptocurrencies.

The Bank of England recently threatened Bitcoin with a regulatory crackdown, with the bank’s governor Mark Carney citing the state of cryptocurrency trading as “anarchy”. He also noted that he believed cryptocurrencies were failing their most basic function of serving as money.

Nonetheless, HullCoin has at least been receiving positive media traction in the UK.

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How to Change the Professional Services Industry via Blockchain

The Blockchain based answer to the professional data economy. In the centralized data economy, digital service providers have historically been known as the gatekeepers of information for much of the business world. The true value of the data gathered by these companies, such as Google or Facebook, wasn’t truly realized by the public and observers

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The Blockchain based answer to the professional data economy.

In the centralized data economy, digital service providers have historically been known as the gatekeepers of information for much of the business world.

The true value of the data gathered by these companies, such as Google or Facebook, wasn’t truly realized by the public and observers until these companies began to use the data to provide insights to partners and advertisers. This includes the provision of analytical services which utilize their vast interlinked network of related databases, along with self-learning machines, to provide predictions based on present and historical trends.

However, such volumes of the user and public information were not obtained overnight, and their acquisition would not have been possible without the services offering a highly competitive level of quality.

Trading Identity for Services

In return for access, users are required to sign extensive terms and conditions contracts, and due to the ubiquity of the services, most users are willing to agree without so much as reading them. As a result, the sovereignty of personal and sometimes private data has arguably shifted from the user to the service providers.

Additionally, these digital service providers and their users face frequent and considerable threats from external malicious actors, due to the amount of data available for duplication or editing.

There are many recent examples of centralized servers which have been subjected to targeted hacks, with some of the more infamous historical examples being Sony and LinkedIn. Personal users face the risk of having their payment details and passwords exposed. Even worse, public, vulnerable, or targeted individuals, run the risk of having identities or private activities exposed.

The same risks also apply to users of business-oriented services, but with far greater potential consequences. This is due to the number of people involved with, and affected by, the decisions of an institution, including employees, customers, and business partners.

The decentralized Blockchain-based solution

Profede is a decentralized Blockchain based solution which aims to resolve data related issues that business services and professionals face today.

First and foremost, in opposition to the current, centralized data economy, the team has decided to place a qualitative value on data, based on depth and quality. They seek to implement a robust system which gives the power of privacy to the user – rather than the centralized platforms owned by large corporate service providers.

Through the use of cutting edge encryption, Profede’s professional users can choose how much, if any, of their data they would like to share, and who with. Third parties can send requests to users for specific information from their profile.

These users can earn rewards in return for sharing this data, in the form the Profede’s proprietary token-based economy (PATO).

Conclusion: Another Industry Disrupted

Being a protocol, rather than platform-based ecosystem into itself, Profede can be employed by a variety of interested parties and seamlessly incorporated into existing systems.

The potential for massive disruption is widely acknowledged, with the team having worked in partnership with highly recognized organizations, such as beBee, a professional community for professionals with over 12 million users.

Use cases include the recruitment sector, as well as professional social media. In the case of the former, businesses who are seeking new candidates usually go through extortionately priced recruitment firms or middle-man recruitment websites. The Profede protocol will make solutions such as decentralized recruitment platforms possible, minimizing the expenses incurred by businesses whilst rewarding high-quality clients for allowing companies to headhunt them.

They have already secured an agreement with beBee, which is a disruptive form of professional social media, dubbing itself a “Collaborative platform for professionals”

Profede is currently in its pre-sale period, you can find out more on their Token Sale by visiting their website or Telegram, or by reading their white paper. The hard cap is $20 mln, with the entire volume being 6 bln PATO.

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Bitcoin in Brief Wednesday: Satoshi’s Millions and the Price of Publicity

Bitcoin in Brief: Satoshi’s Millions and the Price of PublicityWelcome to the second instalment of Bitcoin in Brief, a daily feature from the news.Bitcoin.com team. In today’s roundup: examining the ownership of pre-2010 bitcoins, Vitalik Buterin calls out Craig Wright, and John McAfee’s price per tweet sets tongues wagging. Also read: Bitcoin in Brief Tuesday: Blockchain Wars and a Sleuth of Bears Vitalik Buterin Takes […]

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Bitcoin in Brief: Satoshi’s Millions and the Price of Publicity

Welcome to the second instalment of Bitcoin in Brief, a daily feature from the news.Bitcoin.com team. In today’s roundup: examining the ownership of pre-2010 bitcoins, Vitalik Buterin calls out Craig Wright, and John McAfee’s price per tweet sets tongues wagging.

Also read: Bitcoin in Brief Tuesday: Blockchain Wars and a Sleuth of Bears

  • Vitalik Buterin Takes On Craig Wright

Vitalik Buterin is a man of few tweets, except for those times when he isn’t. In a monster 62-part tweetstorm, he covered the live panel debate with Roger Ver and Blockstream’s Samson Mow at Deconomy 2018. The Bitcoin vs Bitcoin Cash showdown, as it was billed, saw both figures let fly. Buterin was broadly supportive of the big blockers, tweeting “I’m on Roger’s side here; $50 fees [for BTC] should IMO count as a de-facto liveness failure”.

Bitcoin in Brief: Satoshi’s Millions and the Price of Publicity

Buterin also wrote: “I’m ok with the super-big-blocker position [advocated by BCH proponents] but only if sharding techniques…are used to make light client verification easier.” While the technicals of the debate are enthralling to those who care about bitcoin scaling and “Core vs Cash”, the biggest talking point was Vitalik Buterin taking to the floor to call out Craig Wright for being a “fraud”. Buterin really doesn’t like Wright, and the video of the ethereum founder heckling Wright has now been watched more than 129,000 times.

  • From One Satoshi to Another

Bitcoin in Brief: Satoshi’s Millions and the Price of Publicity
Craig Wright

Craig Wright is an intriguing character whose research papers have their moments. However, Satoshi’s identity will likely never be known, and his bitcoins may never move, along with a handful of others who amassed a small fortune pre-2010 when coins could be mined on “easy mode”, with a 50 BTC block reward. Earlier today Tuur Demeester dragged up a famous blog post from 2013 which postulated that most of those early coins were mined by Satoshi.

Blockchain researcher Antoine Le Calvez chipped in, adding: “1.76M BTC are still stored in legacy naked pubkey outputs (the same as very early coinbases). So 1/1.7M for a single early miner wouldn’t shock me. Whether it’s Satoshi or not is another question.”

  • The Price of a Tweet

Bitcoin in Brief: Satoshi’s Millions and the Price of Publicity
Gemini’s new fee structure

Major social media stars such as the Kardashians can earn up to $400,000 for a single promoted tweet or Instagram post. John McAfee, meanwhile, will shill your ICO for $105,000 per tweet. Whether that’s value for money (and whether it’s ethical) is a matter for debate, but other crypto influencers such as Jameson Lopp and Chris Burniske have publicly said they would never sully their reputation by posting promoted tweets. Given the option between a single McAfee tweet or a $105k marketing budget to play with, most ICOs would surely plump for the latter.

  • Gemini Gets Greedy

Gemini exchange has angered customers by upping its trading fees substantially. They’ve increased four-fold for the majority of traders, though there seems to be a workaround of sorts for customers who begrudge going from 0.25% to 1%, which is surely all of them.

  • Back to the Gold Standard

A bill has been introduced in the House of Representatives seeking to define the U.S. dollar as a fixed weight of gold. The document includes the finding that “The United States dollar has lost 30 percent of its purchasing power since 2000, and 96 percent of its purchasing power since the end of the gold standard in 1913.” If only there were some sort of deflationary digital alternative to the U.S. dollar that could be sent P2P anywhere in the world…

What other bitcoin stories caught your attention today? Let us know in the comments section below.


Images courtesy of Shutterstock.


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Expert Expects to See Bitcoin Rally in Second Quarter

Bitcoin just had it’s worst quarter ever but one cryptocurrency expert expects to see numerous factors in the second quarter contribute to price gains for the rest of 2018, according to reports. Crypto Expert says First Quarter is Historically Slow Brian Kelly of Brian Kelly Capital and a contributor to CNBC’s “Fast Money” went on

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Bitcoin just had it’s worst quarter ever but one cryptocurrency expert expects to see numerous factors in the second quarter contribute to price gains for the rest of 2018, according to reports.

Crypto Expert says First Quarter is Historically Slow

Brian Kelly of Brian Kelly Capital and a contributor to CNBC’s “Fast Money” went on air to talk second quarter growth on Tuesday. He showed how traditionally Bitcoin has experienced bad first quarters, even in 2017 when the market went on a meteoric rise the first quarter growth was just over 10%.

Kelly told the “Futures Now” segment that cryptocurrency has historically performed better in the second quarter, predicting that “There will be a significant rally here if seasonality brings tail winds.”

What he was referring to as seasonality is the annual developmental cycle and cryptocurrency conferences like the Consensus in May which can inspire confidence in trading.

Another major factor Kelly sees as part of a potential rebound in the second quarter is that regulation based fear in cryptocurrency investing will begin to wear off as countries start to settle on policies. As he told the “Futures Now” panel;

“We’ve gone to the extreme of the regulation which is South Korea thinking they’re going to ban it, the U.S. talking about everything being a security, to walking it back … you’re seeing a shift again in that type of thing. I think most of that’s behind us.”

Regulation of the cryptocurrency market spread globally after the massive gains Bitcoin and other alternative currencies experienced in the later part of 2017. Countries such as China and India both major markets for digital currencies made extensive moves to ban exchanges and ICO’s while Japan and the U.S. both struggle with creating a regulatory balance that allows exchanges to do business while controlling fraud and crypto related criminal activity.

Kelly commenting further on regualtion said “I don’t think regulation is a bad thing … it doesn’t kill any other market as long as we do it correctly and we don’t stifle innovation. Regulation might actually increase adoption.”

Monex to Take Over Coincheck

Another factor Kelly pointed out is the Japanese exchange Monex potentially taking over troubled exchange Coincheck. Monex plans to offer several billion Yen in a bid to takeover and restructure Coincheck by the end of the week.

News of the takeover has already boosted the price of Bitcoin on Tuesday according to CNBC and Kelly sees the deal bolstering public opinion, adding “It’s a massive confidence boost; you now have a regulated public company in Japan buying into a crypto exchange … this puts a stamp of approval, and Japan is a huge driver of this market.”

Only days into the second quarter and Bitcoin has already seen an uptick of over 8% with price gains of $400 on Tuesday alone.

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Ripple Price Technical Analysis – Can XRP/USD Continue Higher?

Key Highlights Ripple price made a nice upside move and traded above the $0.5175 resistance against the US dollar. There is a new bullish trend line forming with support near the $0.5180 level on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct a few points lower, but the

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Key Highlights

  • Ripple price made a nice upside move and traded above the $0.5175 resistance against the US dollar.
  • There is a new bullish trend line forming with support near the $0.5180 level on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair may correct a few points lower, but the $0.5180 and $0.5175 are likely to act as supports.

Ripple price is moving higher with a positive bias against the US Dollar and Bitcoin. XRP/USD is now placed nicely above the resistance turned support at $0.5175.

Ripple Price Trend

There were more gains observed above the $0.5000 level in Ripple price against the US Dollar. The price made a nice upside move and succeeded in breaking a major hurdle near the $0.5175 level. It even traded above the $0.5200 level and tested the $0.5500 resistance zone. At the moment, the price is placed nicely above the $0.5000 level and the 100 hourly simple moving average.

The recent high was formed at $0.5537 before the price started a downside correction. It declined below the 23.6% Fib retracement level of the last leg up from the $0.4813 low to $0.5537 high. However, there are many supports on the downside around the $0.5200 level. There is also a new bullish trend line forming with support near the $0.5180 level on the hourly chart of the XRP/USD pair. The same trend line is close to the 50% Fib retracement level of the last leg up from the $0.4813 low to $0.5537 high.

Ripple Price Technical Analysis XRP USD

More importantly, the previous resistance at $0.5175 may now act as a support. On the upside, the price has to move above the $0.5500 level to gain further bullish momentum in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD moved down and is currently below the 50 level.

Major Support Level – $0.5175

Major Resistance Level – $0.5500

 

Charts courtesy – Trading View

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Cardano Price Technical Analysis – ADA/USD Could Retest $0.20?

Key Highlights ADA price is gaining momentum and is currently trading above the $0.1600 level against the US Dollar (tethered). There is a key connecting bullish trend line forming with support at $0.1650 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may continue to rise and it could even

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Key Highlights

  • ADA price is gaining momentum and is currently trading above the $0.1600 level against the US Dollar (tethered).
  • There is a key connecting bullish trend line forming with support at $0.1650 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair may continue to rise and it could even test the $0.2000 resistance in the near term.

Cardano price is placed nicely in a positive zone against the US Dollar and Bitcoin. ADA/USD is likely to extend gains above $0.1750 and towards $0.2000.

Cardano Price Support

There was a good upside move started from well below $0.1500 in ADA price against the US Dollar. The price gained momentum and it was successful in breaking a few important resistances such as $0.1600. It even traded above the $0.1650 resistance and settled above the 100 hourly simple moving average. It traded as high as $0.1763 before starting a downside correction.

There was a downside reaction, but the broken resistance at $0.1600 acted as a support. As a result, the price started a fresh upside wave and traded above the 50% Fib retracement level of the last decline from the $0.1763 high to $0.1600 low. However, the current upside move is facing sellers near the $0.1700 level. Moreover, the 61.8% Fib retracement level of the last decline from the $0.1763 high to $0.1600 low is act as a hurdle. On the downside, the price remains supported above the $0.1600 level.

Cardano Price Technical Analysis ADA USD

There is also a key connecting bullish trend line forming with support at $0.1650 on the hourly chart of the ADA/USD pair. AS long as the price is above the $0.1600 support level, it may continue to rise towards $0.1750. Above $0.1750, the price may even test the $0.2000 level.

Hourly MACD – The MACD for ADA/USD is slightly in the bullish zone.

Hourly RSI – The RSI for ADA/USD is currently just above the 50 level.

Major Support Level – $0.1600

Major Resistance Level – $0.1750

 

Charts courtesy – Trading View

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Bitcoin Price Technical Analysis for 04/04/2018 – Triangle Support Holding!

Bitcoin Price Key Highlights Bitcoin price has formed lower highs and found support around $6500 to $7000 to create a descending triangle pattern. Price is bouncing off support and might be due for a move back up to the resistance around $9000. Technical indicators, however, are signaling that a breakdown might be due. Bitcoin price

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Bitcoin Price Key Highlights

  • Bitcoin price has formed lower highs and found support around $6500 to $7000 to create a descending triangle pattern.
  • Price is bouncing off support and might be due for a move back up to the resistance around $9000.
  • Technical indicators, however, are signaling that a breakdown might be due.

Bitcoin price is trading inside a descending triangle and testing support, still deciding whether to go for a bounce or a break.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This suggests that the selloff is more likely to resume than to reverse. Also, the moving averages could hold as near-term resistance levels in the event of a pullback.

Stochastic is already indicating overbought conditions and could be due to move back down. This would reflect an increase in selling pressure and possibly send bitcoin price below the triangle support. In that case, price could fall by roughly the same height as the chart formation.

Market Factors

Bitcoin price was off to a decent start for the month and quarter but it seems that bulls are having trouble holding on to the gains. Risk appetite was present in recent trading sessions but dollar strength is also in play as geopolitical risks eased on cooling U.S.-China trade tensions.

By the looks of it, investors are taking the recent bounce as an opportunity to liquidate their holdings at a better price while analysts predict that bitcoin price could take more hits in the months ahead. Then again, seasonal data suggests that bitcoin price tends to recover during the second quarter of the year so there could be some upside from here.

Meanwhile, US NFP data due later in the week could also set the tone for dollar action and risk sentiment in the financial markets, which also typically affects bitcoin direction.

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Ethereum Price Technical Analysis – ETH/USD To Gain Traction?

Key Highlights ETH price moved higher and was successful in breaking a major resistance near $390-395 against the US Dollar. Yesterday’s highlighted major bearish trend line with resistance at $395 was breached on the hourly chart of ETH/USD (data feed via Kraken). The pair traded above the $415 level before starting a downside correction recently.

The post Ethereum Price Technical Analysis – ETH/USD To Gain Traction? appeared first on NewsBTC.

Key Highlights

  • ETH price moved higher and was successful in breaking a major resistance near $390-395 against the US Dollar.
  • Yesterday’s highlighted major bearish trend line with resistance at $395 was breached on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded above the $415 level before starting a downside correction recently.

Ethereum price is showing a few positive signs against the US Dollar and Bitcoin. ETH/USD remains supported on the downside around the $400 and $395 levels.

Ethereum Price Support

There was a decent start to an upside wave from the $370 level in ETH price against the US Dollar. The price gained momentum and it was able to break a major resistance near the $390-395 zone. It also cleared the 50% Fib retracement level of the last decline from the $430 high to $360 low. It opened the doors for more gains and the price moved above the $400 level.

More importantly, yesterday’s highlighted major bearish trend line with resistance at $395 was breached on the hourly chart of ETH/USD. The pair traded as high as $417.84 before it faced sellers. Later, a downside correction was initiated and the price moved below $410. It also traded below the 23.6% Fib retracement level of the last wave from the $359 low to $417 high. However, there is a major support near the $400 level and the 100 hourly simple moving average.

Ethereum Price Technical Analysis ETH USD

Furthermore, the 38.2% Fib retracement level of the last wave from the $359 low to $417 high may also act as a support around the $395 level. If the price fails to stay above the $395 and $390 supports, there could be a retest of $360. On the upside, the price has to move past $317-320 zone for more gains in the near term.

Hourly MACD – The MACD is moving back in the bearish zone.

Hourly RSI – The RSI is moved back below the 50 level.

Major Support Level – $390

Major Resistance Level – $417

 

Charts courtesy – Trading View

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Meet the Charity ‘eat BCH’ – the P2P Electronic Cash-to-Food System

Meet the Charity 'eat BCH' the P2P Electronic Cash-to-Food SystemOver the past few months of 2018 flying under the radar, there’s  a new charity aimed at feeding Venezuelan citizens and their children — a group called ‘eat BCH.’ The group has been getting a lot of bitcoin cash (BCH) donations towards feeding the hungry from within the country’s troubled economy. The donations are proving […]

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Meet the Charity 'eat BCH' the P2P Electronic Cash-to-Food System

Over the past few months of 2018 flying under the radar, there’s  a new charity aimed at feeding Venezuelan citizens and their children — a group called ‘eat BCH.’ The group has been getting a lot of bitcoin cash (BCH) donations towards feeding the hungry from within the country’s troubled economy. The donations are proving how perfect a peer-to-peer electronic cash system can be for those in need.

Also read: Markets Update: Cryptocurrency Prices See Some Slight Recovery

‘Eat BCH’ Feeding Venezuelans With Bitcoin Cash

The Venezuelan economy has been suffering from hyperinflation and a turbulent economy which has left ordinary citizen living on the streets hungry and unemployed. The country’s currency, the bolivar, is so worthless individuals don’t even count the cash anymore; they weigh the fiat stacks on a scale. Over the years since Venezuela’s turmoil has continued to worsen, people have noticed the use of cryptocurrencies has been helping citizens in the region. People and groups from all around the world have been donating to Venezuelans in need, and the country’s citizens have been mining cryptocurrencies as well.

Meet the Charity 'eat BCH' the P2P Electronic Cash-to-Food System

Now a new charitable cause called ‘eat BCH’ has been offering help to Venezuelans suffering from difficult economic times. The group has been collecting bitcoin cash donations for the past few months and have been using the funds to purchase food and feed Venezuelans who are in need of assistance. Nearly every single day for over three months the group’s Twitter handle shows pictures of children and adults getting all kinds of food — and it’s all paid for with bitcoin cash. Many of the Venezuelans in the photographs have the biggest smiles on their face showing how grateful they for the food.

Meet the Charity 'eat BCH' the P2P Electronic Cash-to-Food System

The ‘eat BCH’ group also explains how thankful they are for the BCH community at large for promoting economic freedom and helping Venezuelan citizens. The anonymous Twitter-based charity states on March 11:    

We have a peer-to-peer electronic cash-to-food system

BCH Donations Making Venezuelan Lives Much Easier

The charity solidifies how bitcoin cash can bypass sanctions, banking blockades, and governments, and turn those funds into food that feeds people. “This whole project has shown not only what it’s possible to do with bitcoin cash but also the generosity of the BCH community as a whole,” ‘eat BCH’ explains to its followers. Many of the pictures ‘eat BCH’ shares show children eating food paid for with BCH, the group handing out food bags, and every Saturday the team delivers food to a Venezuelan nursing home.

Meet the Charity 'eat BCH' the P2P Electronic Cash-to-Food System

On March 24 the charitable group ‘eat BCH’ gave food to a group of women at least one child and explained the donations made their lives much easier. The team states that day:

We delivered some of the food bags to needful mothers in this community today — All of these women have at least one child to take care of. Your BCH donations made their lives much easier — Thank you.

So far the ‘eat BCH’ team has received over eight BCH and has documented every time they went out and fed people. Eight BCH may not seem like a lot of money in areas like the U.S., but even a hundred dollars can feed large groups of people in Venezuela. The BCH community has been thrilled to see bitcoin cash in action feeding people in need from within a country suffering from such a disastrous economic situation. One particular group was searching through the garbage looking for food and thanks to the kind donations stemming from BCH proponents they were fed fresh food that day.   

What do you think about the eat BCH charity? Do you think that cryptocurrencies are a great way to promote economic freedom? Let us know what you think about this subject in the comments below.


Images via the @eatBCH Twitter page


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Litecoin Lifted from Amex Backed Abra Announcement

Litecoin was given a big boost Tuesday when the American Express-backed crypto trading app Abra solidified its decision to use Litecoin smart contracts feature to power its products, gaining as much as a 15%  in trading price over the day as reported by Business Insider. Litecoin gets Big Boost from Abra Announcement Creator of Litecoin Charlie

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Litecoin was given a big boost Tuesday when the American Express-backed crypto trading app Abra solidified its decision to use Litecoin smart contracts feature to power its products, gaining as much as a 15%  in trading price over the day as reported by Business Insider.

Litecoin gets Big Boost from Abra Announcement

Creator of Litecoin Charlie Lee has been hinting there was big news in the making for a while and now its dropped in the form of Abra; a new app that allows people to invest in 20 crypto and 50 fiat currencies with no fees, almost instantaneously using the power of Litecoin smart contracts.

Abra startup CEO Bill Barhydt explained the reasons for changing from Bitcoin to Litecoin in a Reddit AMA on Tuesday, April 3. Responding to a question about the decision he broke it down like this;

“We went with Litecoin as the second asset class, after bitcoin, for our smart contract investing solution for 3 primary reasons: 1. commitment to bitcoin compatibility: core roadmap, p2sh support, lightning support, etc; 2. slightly better scalability than bitcoin in short term (block size and block times); 3. mining fees which are primarily a function of #2 although this is more of a short term benefit as mining fees would likely sky rocket if we’re successful anyway!”

Though the announcement was made at the end of March there was little buzz effect until after the AMA. Abra has thus far raised over $40 million including undisclosed amounts from American Express and Foxconn, Apple’s Asian parts manufacturer.

How Abra Works

Barhydt fielded questions about how he plans to compete with trading giants like Binance and Coinbase by saying that Abra is not a trading platform but a simple app intended for use by retail investors to gain access to many kinds of assets, he went on to explain;

“We enable this investment exposure using a synthetic cfd like model based on p2sh multi-sig scripts on the litecoin and bitcoin blockchains. Our goal is to open this up to different asset classes over time, not just the top 20 cryptos and fiat but even stocks, commodities, etc. An example of this vision that we hope to bring to market in the future is for someone in Ghana to buy exposure to Apple … using the same app you’re able to download today from the app store.”

If Abra can attract a significant amount of users it will further drive demand for Litecoin which in turn could reduce the circulating amount of LTC, pushing the trading price up. If nothing else Abra’s decision to choose Litecoin over Bitcoin or Ethereum adds credibility and may boost investor confidence in its future.

The post Litecoin Lifted from Amex Backed Abra Announcement appeared first on NewsBTC.

Now India is more interested in ethereum than bitcoin – Quartz

QuartzNow India is more interested in ethereum than bitcoinQuartzIn December, the month when bitcoin prices hit a record $20,000, cryptocurrency searches were also the highest, accounting for 30% of all searches in the five-month period of the study. S…


Quartz

Now India is more interested in ethereum than bitcoin
Quartz
In December, the month when bitcoin prices hit a record $20,000, cryptocurrency searches were also the highest, accounting for 30% of all searches in the five-month period of the study. Since then, bitcoin prices have plummeted. Meanwhile, ethereum ...

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