Day: August 7, 2018

At press time, the father of cryptocurrency is trading for over $7,100. This is about $200 higher than where it stood just yesterday afternoon.

One source suggests that bitcoin is still trapped in a selling rally, but that it’s enjoying a day of relief before the bears enter the fray once again. The currency has risen by more than two percent in the last 24 hours, and the bulls are trying hard to regain control of the financial reins, though bitcoin has been in consolidation mode over the last three days following a nasty price drop over the weekend.

In addition, technical charts suggest that bitcoin’s price could continue to move deeper in the red, and fall to $6,900 and $6,800 respectively, though support at these levels would have to be broken if bitcoin chooses to fall further.

UK financial analyst Alexander Kuptsikevich believes that the sell-off may be the result of miner activity rather than investors. He states that as the profit of bitcoin mining has fallen by roughly 90 percent, many are not keeping the new coins they extract.

“Despite a widely accepted opinion that the main contributors of the crypto market decrease are the bears amongst the institutional investors, currently it is very likely that it is all about the miners,” he explains. “As the profitability of mining has been reduced by 90 percent since January 2018, they have disposed [sold]most of the mined bitcoins.”

Other well-known skeptics are back to bashing bitcoin. CEO of JPMorgan Jamie Dimon, for example, stated last year of cryptocurrency, “It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”

Now, bitcoin cynic Nouriel Roubini is tweeting, “Jamie Dimon reiterated comments made last year on bitcoin, calling cryptocurrencies a ‘scam’ and saying he has ‘no interest’ in the world’s largest digital currency. He suggested governments may move to shut down the cryptocurrencies.”

However, bitcoin still holds dominance in one area. The currency’s share of the entire crypto market is at its highest level this year, and near where it was when bitcoin struck its highest price chord in history late last December. According to CoinMarketCap.com, the currency now holds industry dominance of 47.6 percent. That means nearly half of the crypto space is controlled or owned by bitcoin.

Does it mean bitcoin will spike further from here? It’s hard to say really, though one thing can be said for sure – the currency remains as popular as ever, and so long as people continue to utilize it and invest in it, bitcoin can garner the attention and legitimacy it deserves to potentially become one of the largest and strongest entities in the financial infrastructure.

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It now appears that multinational investment bank Barclays is not, in fact, joining the cryptocurrency markets through a crypto trading desk.

Reports initially surfaced yesterday claiming that the bank was starting a trading desk based on information on several traders LinkedIn profiles.

Barclays Not Developing Rumored Digital Asset Project

It initially appeared that Barclays had appointed one of their traders, Chris Tyrer, to lead the banks “digital asset project,” which entailed figuring out how the bank can best approach the rapidly expanding cryptocurrency markets.

Prior to these revelations, Jes Staley, Barclays’s CEO, had ruled out launching a crypto trading desk, expressing to shareholders in May that he feels skeptical about the technologies due to compliance and regulatory issues, saying:

“Cryptocurrency is a real challenge for us because, on the one hand, there is the innovative side of it and wanting to stay in the forefront of technology’s improvement in finance…On the other side of it, there is the possibility of cryptocurrencies being used for activities that the bank wants to have no part of.”

Regardless of Staley’s comments, reports surfaced that seemingly refuted his stance on the issue, claiming that the bank had appointed two of its traders, named Chris Tyler and Matthieu Jobbe Duval to work on the so-called “Digital Asset Project.”

According to information on the traders LinkedIn profiles, which has since been removed, Tyrer was the lead of the project, and Duval was a consultant for the project.

Duval’s LinkedIn Profile stated that he had been “hired to produce a business plan for integrating a digital assets trading desk into Barclays’ markets business: revenue opportunity, competitive landscape, budgeting and planning for delivery, I.T. buildout, capital & balance sheet impact.”

A Barclays spokesperson told Business Insider that the bank had no plans to launch a crypto trading desk, but did confirm that the two traders had worked at the bank.

Banks Are Interested in Trading Crypto

Although Barclays may not have any current plans to build a cryptocurrency trading desk, the bank did discuss the topic with clients in April.

According to a report from Bloomberg, Barclays had been conducting preliminary assessments of whether or not trading cryptocurrencies could be a profitable venture for the bank. Spokesman Andrew Smith said in a statement:

“We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market.”

The reports also claimed that Barclays could be potentially partnering with Goldman Sachs, who is already beginning to enter the cryptocurrency markets. However, a Barclays spokesperson refuted these rumors in late April. Although it is still unclear whether or not Barclays will ultimately enter the crypto markets, many other large financial institutions have already made the jump.

Goldman Sachs was the first institution to announce that they would be opening a crypto trading desk and paved the way for other banks to open trading desks as well. Following Goldman, Morgan Stanley announced that they would be opening a specific crypto trading desk for institutional traders. JPMorgan Chase also has developed a team of analysts to research blockchain and cryptocurrency, but they have not yet made any direct moves into the industry.

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SEC officials huddled with stakeholders last week on a proposed bitcoin ETF.

Buying Bitcoin still remains a big problem in most parts of the world. That’s not necessarily because it is difficult to do so, but rather because very few platforms offer this service. When it comes to buying Bitcoin with euros, there are a few exchanges worth looking into. Not all of them have the clout of the market elders, yet competition is always a good thing.

CEX.IO

Although this exchange is often overlooked by cryptocurrency users, the platform has been around for several years now. It also provides fiat currency gateways for Bitcoin and a few other currencies, and the company supports EUR transactions. Volume-wise, CEX is one of the less popular companies these days, but it still makes for an interesting choice for novice users.

Bitinka

Not too many people are familiar with this exchange. Bitinka is a global Bitcoin exchange located in Latin America. The company supports Bitcoin trading, as well as around a dozen altcoins. Among the fiat currencies supported are the US dollar, the euro, and a few others. It’s another valid choice for novice traders, although it’s not necessarily the go-to exchange for newcomers.

Cryptonex

A lot of people are surprised that Cryptonex supports fiat-based trading of Bitcoin. The platform seems more like a broker than an actual exchange, although the platform has an order book for users to take advantage of. The platform supports debit and credit card purchases, assuming one’s bank doesn’t block these types of transactions.

Coinbase Pro / Coinbase

Coinbase fits on any list when it comes to buying or selling Bitcoin in exchange for most major fiat currencies. It is no surprise the company also caters to users and speculators in Europe. Surprisingly, it’s not that popular in Europe just yet, although that has always been a very small market compared to the US.

Bitfinex

Whereas most people associate Bitfinex with USD trading only, the company has made a name for itself in Europe as well. Its support of EUR-based trading for Bitcoin often goes by unnoticed, although the pair has been generating a bit more volume in the past few months.

Bitstamp

As one of the bigger European exchanges, Bitstamp is in a good position to cater to the European market, although there is still a lot of room for improvement. It is evident Europe is still a small market for cryptocurrency, and companies such as Bitstamp need to keep pushing into this area.

Kraken

Although not everyone is a big fan of the Kraken cryptocurrency exchange, it provides users with access to many cryptocurrencies and fiat currency pairs, including the euro. Kraken is still one of the more popular exchanges in Europe, which is an interesting situation for other companies to take advantage of in the future.

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US Congressman Bob Goodlatte has declared his private Cryptocurrency holdings, becoming the first member of Congress to do so.

Goodlatte, who currently serves as the chair of the House Committee on the Judiciary, has reported that he currently holds a number of cryptocurrencies, namely Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH).

Clearly, holding cryptocurrencies in itself is not at all unusual but perhaps a rarer disclosure when made by influential politicians, given the current state of regulation in the US surrounding cryptocurrencies.

The disclosure was filed in on 10 May that congressman Goodlatte owns between USD 15,001 and USD 50,000 worth of BTC, while also holding positions in BCH and ETH valued at between USD 1,001 and USD 15,000 each.

The reason for the disclosure is a result of a Congressional Blockchain Caucus legal advisory that request that all employees of the United States executive branch reveal any crypto holdings within 45 days. The advisory was not simply limited to crypto but all holdings.

Crypto clearly runs through the congressman’s family as his son Bobby Goodlatte Jr has Coinbase investments. Also, Congressman Goodlatte is a member of the Congressional Blockchain Caucus itself. The founder of the group is Jared Polis who requested guidance early this year on crypto disclosure. Analysts are expecting him to be the next politician to disclose crypto assets.

Polis argued in February that, because crypto assets are regarded as commodities by some agencies, Congress should treat them as traditional assets for disclosure purposes. He argued:

“Members of Congress and covered employees are already required to report certain asset holdings over certain amounts, including reporting any commodities holding over USD 1,000, a Member or covered employee should report any virtual currency holding as they would report any other commodity, such as gold.”

Polis is notably pro-crypto, once suggesting that the US dollar be banned and replaced with Bitcoin, and is also one of the first US politicians to accept Bitcoin campaign donations.

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Bitcoin has today seen seen solid growth to break back above $7,000, with Ethereum at $410 and most major crypto assets in the green

Cryptocurrency exchange Coinbase announced it was opening instant trades and increased trading limits Tuesday.

Money laundering and Bitcoin have been entwined for quite some time now. Various incidents take place every single year, and the year 2018 hasn’t been any different. Numerous incidents involving Bitcoin and money laundering have taken place in recent months.

3. Money Laundering in Japan

Although Bitcoin has become legal tender in Japan, that has not been sufficient to keep criminals away. In fact, it seems Bitcoin is still pretty big among criminals in that part of Asia, as over 660 cases involving money laundering were reported by exchanges. Those findings came to light a few months ago, and some of those activities date back to the second half of 2017.

It is good to see cryptocurrency exchanges pay attention to suspicious transactions. Although it is unclear whether all reports were indeed cases of money laundering, it shows the domestic industry is looking for ways to bring more legitimacy to Bitcoin and other cryptocurrencies. Ensuring that criminals can’t use Bitcoin for money laundering is one way of doing so.

2. Thomas Mario Costanzo

It is not uncommon for Bitcoin traders to be suspected of money laundering. In the case of users who offer large amounts of Bitcoin in exchange for fiat currencies, the US government will look into their practices sooner or later. Thomas Mario Costanzo, also known as Morpheus Titania, has been convicted of running a peer-to-peer Bitcoin exchange without an official license.

Initially, Costanzo was arrested for unlawful possession of ammunition. During the raid, his cryptocurrency assets were seized, and he later admitted to laundering proceeds of drug dealers through various cryptocurrencies. Costanzo also used Bitcoin to purchase drugs and narcotics from the dark web, further adding to his list of wrongdoings.

1. Europol Arrests Eleven Individuals

While Europe is not necessarily the biggest region for cryptocurrency activity, there are some shady practices taking place there. Earlier this year, Europol successfully dismantled a drug trafficking ring which had laundered over 8 million euro through a Finnish cryptocurrency exchange. The criminals had also used nearly 200 different bank accounts to avoid suspicion, but were ultimately apprehended.

To this day, it remains unclear which Finnish cryptocurrency exchange was involved in this scheme. Nor is it clear whether the exchange did so willingly or simply got caught up in the money laundering efforts due to clever tricks employed by the criminal group. This particular incident has paved the way for Europol to further crack down on cryptocurrency money laundering, despite the lack of active Bitcoin regulation in most of Europe.

Bitcoin Press Release: Fans can access exclusive content from NFL players and more with SportsCastr’s FanChain token

Aug 1st, 2018, Grand Cayman – SportsCastr, a live-streaming platform that allows anyone to become a color commentator, announced today that the NFL Players Association (NFLPA), via its athlete-driven accelerator the OneTeam Collective, has acquired a minority stake in the company to power live, interactive video content for fans.

The Partnership

Through this partnership, active and former NFL players will use SportsCastr to provide live commentary across a wide range of professional and collegiate sports, share personal insights, and more. ACE Media, the NFLPA’s content, and production arm will collaborate with SportsCastr to produce NFL player and other athlete-driven content featured on the SportsCastr platform.

In June, SportsCastr announced FanChain, a cryptocurrency developed for the multi-billion-dollar global sports market. FanChain allows SportsCastr users to earn tokens for participating on the platform, and those tokens can then be used to unlock premium NFL player content (such as back-stage access), purchase sports tickets or merchandise, and send virtual gifts to NFL players. Although SportsCastr is the first platform to support FanChain, the company is working with teams, media publishers and leagues to add FanChain support, with the aim of making it the ubiquitous token within the sports industry.

Andrew Schupak, CFO and Head of Strategy at SportsCastr said;

“SportsCastr enables fans to get authentic, real-time reactions and commentary from all sports fans and now, for the first time at scale, professional athletes. We’re excited to partner with the NFLPA to accelerate adoption and work together to enhance the fan experience.”

As part of this agreement, SportsCastr becomes an official licensee of the NFLPA in the categories of mobile apps and web-based platforms that allow users to discuss a variety of sports topics, including through video streams and chats. SportsCastr is the eighth active NFLPA partner secured through the OneTeam Collective, which is designed to give innovative early-stage companies the opportunity to leverage the NFLPA’s exclusive group player rights, in exchange for equity.

Vernon Davis of the Washington Redskins, a SportsCastr investor and advisor stated;

“Fans are looking for new ways to engage with the game of football and us, the athletes. SportsCastr’s live streaming platform is a cool and fun way for fans to add their own voice to games while engaging with players in a different way. As players we see the value in sharing more of our personalities and unique content with fans and we’re excited about where this live stream tech is headed.”

Kevin April, SportsCastr CEO commented;

“In addition to viewing unfiltered live-video straight from their favorite NFL players, fans will be able to interact with them via chat and show their appreciation with sports-themed virtual gifts. SportsCastr’s partnership with the NFLPA through the OneTeam Collective is a powerful opportunity for fans to connect with athletes in a direct and meaningful way.”

About SportsCastr

SportsCastr is a live-streaming platform that allows anyone to become a color commentator. Backed by some of the biggest names in sports including NBA Commissioner Emeritus David Stern and Super Bowl Champion Vernon Davis, SportsCastr enables viewers to select which user they wish to have call, recap, or predict games. The Company’s FanChain cryptocurrency is designed for both SportsCastr and the global sports market, allowing users to tip broadcasters and access premium content.

About the NFL Players Association

The National Football League Players Association is the union for professional football players in the National Football League. Established in 1956, the NFLPA has a long history of assuring proper recognition and representation of players’ interests. The NFLPA has shown that it will do whatever is necessary to assure that the rights of players are protected—including ceasing to be a union, if necessary, as it did in 1989. In 1993, the NFLPA again was officially recognized as the union representing the players and negotiated a landmark Collective Bargaining Agreement with the NFL. The current CBA will govern the sport through 2020. For additional details, please visit nflpa.com.

About NFL Players Inc.

NFL Players Inc., the licensing and marketing arm of the NFLPA, connects businesses to the power of NFL players. NFL Players Inc. creates customized business solutions for partners, through licensing, marketing strategy and player activations. For more information, please visit nflpa.com/players.

About the OneTeam Collective

The OneTeam Collective is the first athlete-driven business accelerator for innovative companies seeking to incorporate sports strategies to drive growth. OneTeam Collective is comprised of founding partners, the NFL Players Association (NFLPA), BlackRock, Harvard Innovation Lab, Intel, Kleiner Perkins Caufield & Byers, LeadDog Marketing Group, Madrona Venture Group and Sports Innovation Lab. The Collective offers access to the NFLPA’s brightest stars via licensing, marketing and content rights, research and development, funding and mentorship for product development and marketing support.

About ACE Media

Athlete Content & Entertainment Media (ACE Media) identifies and develops unique content opportunities for athletes, and leverages unparalleled access, rights and events to highlight their interests, passions, and talents, and deliver compelling sports-lifestyle content projects across a variety of platforms. For more information, please visit acemediaco.com.

For more Information, visit the website at – https://fanchain.com/
Connect on Telegram – https://t.me/joinchat/HMX3kA5Y_7f1BO7i_jRqSA
Connect on Twitter – https://twitter.com/sportscastrlive
Meet the Team – https://www.linkedin.com/company/sportscastr/

Media Contact
Contact Name: Molly Waldron
Email: [email protected]

SportsCastr 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. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Bitcoin News Press Release: Cloud mining firm Hashtoro takes down some of the myths surrounding cloud mining as a passive income, providing plans that offer reliable crypto mining returns with minimal investment.

August 7, 2018 – In the past few years, cloud mining has become a major controversy in the cryptocurrency community, attracting plenty of converts along the way. But there are still millions of crypto miners who either haven’t experienced the value of cloud Litecoin mining or haven’t been persuaded that it’s the best way to mine.

The truth is that cloud miners have come a long way in a short period of time, and it’s becoming an ever more viable method for ordinary investors to mine cryptocurrencies.

However, there are still a few myths surrounding cloud Litecoin mining and mining other currencies via the cloud. So let’s explore some of those myths and find out what the cloud has to offer.

Cloud mining is a luxury

In the past, cloud miners have been seen as a premium add-on to the crypto community, with cloud Litecoin mining and cloud Bitcoin mining offering a service for people who weren’t serious about making money from mining.

Basically, skeptics saw cloud Ethereum mining as something that was a neat idea but had so many in-built risks and costs that it would only suit investors with enough cash to spare for marginal, high-risk investments.

At Hashtoro, we know that this isn’t true any more. Cloud miners are now more transparent and professional, offering flexible packages that almost any investors can afford. They hedge risks more efficiently, find creative ways to reduce energy consumption and costs, and, above all, deliver reliable returns.

These developments have attracted a mass market to Bitcoin, Ethereum and cloud Litecoin mining, which are definitely not just luxury activities. They are in the mainstream and moving from strength to strength.

Cloud mining isn’t diverse

In the past, this was true. Early cloud mining services tended to offer limited choices when it came to the kind of currencies users could mine, with cloud Bitcoin mining most common.

Nowadays, cloud mining uses a range of different cryptocurrencies. Investors can opt for cloud Bitcoin mining, but also cloud Litecoin mining, cloud Ethereum mining or a mixture of all three to hedge their risks.

Cloud mining isn’t profitable

This is now totally wrong. Cloud Bitcoin mining cuts the cost of setting up and running home servers, which can run to thousands of dollars. With cloud Ethereum mining or cloud Bitcoin mining, the only payments are to the mining company.

However, cloud Litecoin mining companies do have to cover their costs, so they take a proportion of your investment as a maintenance fee. In some cases, this can make cloud Litecoin mining less profitable than going solo – but with reputable operations, this isn’t the case.

A look at some figures makes this easier to understand. For example, we at Hashtoro might offer 100TH of capacity for a USD 6,000 investment, yielding around BTC 1.7 per year.

Sticking with home mining would require an outlay of thousands of dollars on graphics cards, or it would need so much capacity that the heat would render most apartments unlivable. And that capacity would still work out more expensive than using a well-run cloud Bitcoin mining operation.

Crypto prices ruin cloud miners

Sometimes, cloud Litecoin mining has stopped operating when the price of the currency has dipped, with the same disruptions detected in cloud Ethereum mining and cloud Bitcoin mining.

However, newer cloud Ethereum mining companies have found ways to minimize the risk of disruption. For instance, Hashtoro keeps cost low by using the facilities of inactive lumber companies, cheap Finnish electricity, and a variety of currencies.

If the price of cloud Ethereum mining rises, other currencies can pick up the slack. At the same time, dynamic cloud mining software automatically adjusts the servers as prices fluctuate – keeping profits at a steady level.

Explore cloud mining with Hashtoro

Cloud miners have come a long way in recent times, and it’s a great time to discover what they have to offer. With cheaper setup costs and hardly any hassle compared to home mining, using the cloud to earn Litecoin, earn Bitcoin or try cloud Ethereum mining makes perfect sense. When you mine with Hashtoro, you can expect reliable crypto mining with minimal investment. So log on, make an investment and discover how far low overhead crypto mining has come.

About Hashtoro

The company was founded in May 2018. Hashtoro.com is a cloud mining cryptocurrency service. It offers a safe and simple way to get computing power to start cloud mining Bitcoin, Litecoin and Ethereum. The company provides cryptocurrency solutions for both everyday users and business entities. Hashtoro is suitable whether you want to get into mining on a low budget or diversify your current portfolio.

The company’s data centers are set up in Finland and Norway, countries favorable to the crypto industry.

Primary competitor’s advantage is that the company offers low budget cloud mining opportunities. The cheapest cloud-mining contract will cost just EUR 20.

Moreover, Hashtoro’s infrastructure is powered exclusively by renewable energy. The hot air generated by mining is directed into heat pumps, while the hot water is pumped into the adjacent heating systems. This is why Hashtoro.com has become one of the most profitable and ecologically safe cloud mining services.

Learn more about Hashtoro: https://hashtoro.com/
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Chat with Hashtoro on Telegram: https://t.me/hashtoro.com

Media Contact
Email: [email protected]
Mailing address: HASHTORO LLP Company number OC422381 Suite 1111 85 Great Portland Street, First Floor, London, United Kingdom, W1W 7LT

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