carVertical cV

$0.0004
Market Cap $ 2.800 MM (#579)
24h Volume $ 13.059 K
Chg. 24h: 4.85%
Algo. score 3.1/5  (#435)
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Hop Lovers can Pre-Order Civic's $15,000 Crypto-Powered Beer Vending Machine

On Wednesday blockchain startup Civic debuted its crypto powered beer vending machine at SXSW music festival in Austin, Texas. The demo unit was a test product for the public to interact with and later this year merchants will be able to purchase a machine for $15,000. The machine can verify a user’s age and accept crypto payments. Since debuting on March 3 the machine has sold 150 beers per day and raised 100,000 Civic tokens ($7,600). Beers cost 200 CVC each ($12) and iPhone users who downloaded the Civic Pay app and verified their identity were gifted enough CVC to purchase 1 beer. (RS)

4 days ago

You Can Now Pre-Order This $15,000 Crypto-Powered Beer Vending Machine

Decentralized identity startup Civic is rolling out a new product: beer vending machines that can verify ID.

4 days ago

International Women’s Day: Women and Crypto - The Direction in 2019

It is International Women’s Day 2019, and a time for Bitcoin News to reflect on a year in print and celebrate women in fintech, and those women of all ages whose lives still remain largely uncelebrated. The point of International Women’s Day is to look back over the past year and pinpoint the successes and failures in the promotion of equality between the genders. It is also a time to reflect on how to further combat sexual violence, harassment, domestic violence against women, and examine gender power structures, particularly in business. A new UK government report has revealed that salary imbalance between the genders when it comes to business is still slow to change. Although one in three entrepreneurs are women in the UK — a hugely improved figure — many of the companies run by women are also half the size of those with male directorship. The report goes on to indicate that accelerating female recruitment into business over the next year could add an extra USD 25 billion to the UK economy alone. One such entrepreneur is Queenslander Leanne Kemp who was named by the World Economic Forum as one of the most promising tech pioneers of 2018. Kemp’s blockchain startup, Everledger, was founded in April 2015, offering a way of tracking the provenance of diamonds; identifying them, and following their ownership history. She now has 2.2 million diamonds listed on Everledger’s blockchain and has now begun to add art, wine, watches jewelry and even natural resources to the blockchain. She maintained: “We have a responsibility as next-generation technologists to underpin how this technology will form and inform all of us in our roles as citizens of the planet... There’s an important role to be had in re-innovating existing products in markets to bring transparency and provenance and then also the tracking of their second lives.” Another Australian, Katrina Donaghy, co-founder of startup Civic Ledger, took her talents to London in 2014 to explore how she could integrate Bitcoin and blockchain into business. She told the Australian Financial Review that on arrival she was surprised to see the degree to which these technologies were already being utilized by London’s large financial institutions. “If you just look at the companies that have done ICOs, there are very few women, but if you look at the ones that have been built based on customer validation and actually have sales, well most of the good blockchain companies that are still around were co-founded by women in the early days.” In the US in 2018 ConsenSys teamed up with Black Girls Code, a non-profit organization providing tech training to young black women between the ages of 7 and 17. This established the first blockchain training program of its kind in the US which has plans to branch into US states and beyond. The program will eventually be available in Oakland, California, Atlanta, Georgia and in New York City, with plans to run in Johannesburg, South Africa. Black Girls Code CEO Kimberly Bryant commented: “The ConsenSys team has consistently impressed me with their commitment to creating pathways for access and inclusion within the blockchain ecosystem and their passion for introducing these tools to the next generation of coders.” The organization wishes to train a million girls by the year 2040, becoming a high-tech version of the Girl Guides. One aim is to ensure that minority groups in fintech have a space to grow and flourish encouraging innovative outside investments into such groups. Amber Baldet is a household name in fintech, co-founder of Clovyr, well known for her work at JPMorgan as a leader of blockchain products, and developed the Ethereum based Quorum software designed to accelerate financial databases. Baldet left Wall Street to develop her own software by founding Clovyr and get startups on the road to using blockchain technology more effectively. She says: “I’ve had the opportunity to talk to people who see things very differently... Being able to transition back and forth, I can help people understand each other and build stronger products together.” Of gender diversity in the tech world she suggests, “People have tried to call out crypto as being better or worse...Diversity is a challenge across all tech subcultures.” In the UK last year, the number of women showing an interest in investing in cryptocurrencies leaped from 6% to 13% over a six-month period. A City Am conducted by cryptocurrency firm London Block Exchange, showed that cryptocurrency was most popular with women in the millennials group. Another survey conducted by Reddit at the end of 2017 indicated that one out of five women had considered investing in cryptocurrencies with a huge 96% of Ether users being males. What then of the uncelebrated names of the past year? Since last year, the United Nation’s World Food Programme (WFP) has distributed cryptocurrency-based food vouchers to more than 100,000 Syrian refugees living in Jordan, bypassing bureaucracy and getting aid

9 days ago

Vinny Lingham Suggests There Are More QuadrigaCX-Like Exchanges Out There

Vinny Lingham, the CEO of blockchain-powered ID platform Civic, is speaking out about the demise of Canadian crypto exchange QuadrigaCX. Lingham pointed to a tweet from December 2018 in which he voiced his suspicions that there were a number of crypto exchanges financing their operations with fractional reserves and directing customer deposits toward running operations. At the time, he reminded users “not your keys, not your coins.” Today he identified QuadrigaCX, which lost approximately $190 million of users’ funds when the CEO passed away, as the “first real example” of this. He added: “Are they alone? I highly doubt it.” A follower asked if decentralized exchanges are the solution, to which Lingham replied: “I don’t think it’s a single answer problem.” (GT)

23 days ago

Zuckerberg Talks Blockchain Potential, Calls Facebook an Innovator in Privacy

When you think of Facebook today, a pioneer in privacy isn’t the first thing that comes to mind. But you should, at least according to its founder Mark Zuckerberg. In a recent interview, Zuckerberg broke down all the efforts that the social media giant has made to secure user data. Since it was founded to cater to Havard students, its users have trusted that their data is being safeguarded. And it has, for the most part, Zuckerberg believes. However, it’s difficult to take his remarks at face value. Recent incidents have tainted the impeccable image the platform has enjoyed from its 2.5 billion users, half of whom are daily active users. The Cambridge Analytica incident was one of the biggest data breach scandals, and it sparked the call for tighter regulations for big tech companies. However, in a more positive note, Zuckerberg was full of praise for blockchain technology. He is excited about the impact it will have, he said. It will give users the ultimate control over their data. The users will then only share their data with entities of choice, and possibly even get compensated for it. This year I'm hosting a series of discussions on the future of technology and society. Here's the first one with Harvard Law Professor Jonathan Zittrain.I joined his seminar and we covered topics including information fiduciaries, encryption, decentralized services, governance, fighting misinformation, different business models, privacy innovation, and future research areas.I found his ideas fascinating. We spoke for almost two hours and still only got through about a third of what we hoped to discuss. I'm looking forward to continuing this series soon and covering more topics beyond the internet. Posted by Mark Zuckerberg on Wednesday, February 20, 2019 There’s more to it than meets the eye, he continued. Decentralization will rid the systems of intermediaries such as Facebook and Google. However, it will also expose users to having their data being misused by unscrupulous people. Many users will end up sharing their data without any knowledge of how it will be used. The people who harvest this data will have no one to answer to. There will be no one to prevent another Cambridge Analytica incident. Ironic, isn’t it? A Decentralized Facebook Ever since the emergence of decentralized applications, there have been calls for Facebook to become decentralized. These calls have also implored developers to create a decentralized platform to take on Facebook and other social media platforms. And they have, but with limited success. However, if you are waiting for a decentralized Facebook, it’s not coming. In the interview, which Zuckerberg had with Havard law professor Jonathan Zittrain, he made it clear that he was all for decentralization. A fully decentralized Facebook, however, is a pipe dream that will most likely never materialize. He does believe though that there are aspects of the platform that blockchain can impact. One of these is authentication. This is an area that Zuckerberg has had an interest in for quite some time, he told Zittrain. He described it as “doing what we’ve done with Facebook Connect in a decentralized platform.” Facebook Connect is a single sign-on platform that allows its users to log in to other platforms using their Facebook account. Already, several startups have sprung up offering a decentralized version of Facebook Connect. One of them is Civic, a startup that promises to give its users control over their identity. Civic and other such startups have found varied levels of success. However, should Facebook Connect become decentralized, it would be miles ahead of them given the huge number of users it enjoys. Image(s): Shutterstock.com The post Zuckerberg Talks Blockchain Potential, Calls Facebook an Innovator in Privacy appeared first on NullTX.

24 days ago

Bitcoin Price Touches $4K On Biggest Daily Volume Since May

The Bitcoin price succeeded in holding above $3900 February 20 after a sudden bull run brought the largest trading volumes since May 2018. Bitcoin Volume Sets 9-Month Record Data from Coinmarketcap confirmed the return to form for both price and volume over the past 72 hours, Bitcoin rising around 10 percent February 18 and touching the $4000 mark on Bitstamp yesterday. BTC/USD 00 hit a high of around $3960 on major exchanges, before a slight reversal took the pair to just above $3850. At press time, however, the newfound momentum had broadly held, assuaging fears that the uptick could suddenly break down and result in more losses. While no single factor appeared to drive the trend, price drove a resurgence in trading volume, which culminated in February 19 beating every daily total since May 3 last year. Social media commentators noted further trends, such as Bitcoin’s daily relative strength index (RSI) being the highest since the end of the protracted bull run to $20,000 seen in late 2017. #BTC Daily RSI 2nd highest since the end of the 2017 bull run. I added 3 squares for the top 3 highest RSI with relative price evolution for comparaison. Note also how the BB has been narrow for a while now. #bitcoin #crypto pic.twitter.com/blRlqfKVoc — Zen Frog (@CityZenFrog) February 19, 2019 When Moon? Even small unexpected price runs provide a refreshing counterpoint to the generally-accepted theory that Bitcoin will languish in a narrow trading corridor in the near term. As Bitcoinist reported, that theory has gained the favor from various sources, including Galaxy Digital founder Mike Novogratz and Civic CEO Vinny Lingham in recent weeks. Tone Vays, perhaps the best-known technical analyst from within the Bitcoin community, had previously warned against modest Bitcoin price advances denoting a definitive end to the cryptocurrency’s longest bear market on record. In December, when BTC/USD still traded below $4000, Vays anticipated a likely harsher drop to around $1300 - the peak achieved in the 2013 bull run prior to the implosion of Mt. Gox. Beyond price meanwhile, Bitcoinist reported earlier this month on underlying technical metrics for the Bitcoin network showing signs of increasing robustness since 2019 began. What do you think about the Bitcoin price performance? Let us know in the comments below! Images courtesy of Shutterstock The post Bitcoin Price Touches $4K On Biggest Daily Volume Since May appeared first on Bitcoinist.com.

25 days ago

Norwegian City To Replace Fiat With Its Own Cryptocurrency

Liberstad, a city in southern Norway has announced its decision to stop using fiat currencies and cash. Instead, the city is set to release its own cryptocurrency called 'City Coin' that runs on the city's blockchain-based smart city platform called 'City Chain.' Once it is live, City Coin will be the only medium of exchange within Liberstad. It will be used for payment of city services, worker wages, and funding civic projects. Liberstad is a small private city based on principles of anarchism and non-aggression. All of the land and services are private. People will soon be able to buy land and houses in the city using City Coin. (VS)

a month ago

Anarcho Capitalist Smart City in Norway Announces Native Cryptocurrency

A privately promoted city in Norway going by the ideals of Anarcho Capitalism has announced the development of its native cryptocurrency for local transactions. The city already has a blockchain-powered smart city platform facilitating its citizens and now its native cryptocurrency is also launched for good measure. Liberstad, the anarcho-capitalist utopian project in Norway is a privately run smart city project by the non-profit Liberstad Drift Organization that aims to implement the principles of total free-market economy and lack of government interference with a special focus on abolishing taxation. According to John Toralf Holmesland, the head of Liberstad Drift AS: “We want a society where people decide over themselves and can live together without government authorities. We want a society without government coercion, blackmail, surveillance or unnecessary violence.” The first of the city’s freehold plots for the utopian exercise were sold mostly through Bitcoin and Norwegian Krone back in 2017. Around 100 new residents have joined the project and by April 2018. The new native cryptocurrency called City Coin will be used within the closed market of Liberstad itself only. Within this area, national fiat currencies are completely banned and the currency itself will be used within the town’s blockchain-based smart platform called City Chain. The platform and cryptocurrency together will allow citizens and private entities to offer communal services “on a private, internal and voluntary basis” to eliminate the requirement of government existence in the area. The residents will also use a new app called City Hub for municipal functions. The app will allow a variety of civic functions that are allowed in an anarcho-capitalist doctrine including identity management, creating and voting on city-wide initiatives, registering property, contract insurance, and more. The town is one of the first attempts to create a free market-backed government-less existence in the world. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: bitcoinnews.com The post Anarcho Capitalist Smart City in Norway Announces Native Cryptocurrency appeared first on BitcoinNews.com.

a month ago

Check out Cybervein Blockchain Hackathon on @HackerEarth ...

Check out Cybervein Blockchain Hackathon on @HackerEarth https://t.co/k184eGCPf0 via @HackerEarth #Hackathon… https://t.co/36zVtmzt2Y

a month ago

South America: Crypto and Blockchain News Roundup 9th to 15th February 2019

South America Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country. Brazil Crypto Association Launches Crypto Prize: ABCripto, one of the top two crypto exchanges in the country has launched a new crypto prize to recognize the leading experts in the field who are working in startups and market development. The new ABCripto Prize is open for entries and applications must reach ABCripto by March 16, 2019. All innovators involved in this sector can apply for the prize by following this link. There are three categories for prizes in the event, including Professional of the year, Academic and Influencer. The actual date, place, jury and other details will soon be announced by the association. Florianopolis Shopping Center to Accept Bitcoin in a First: Brazilian city of Florianopolis will see a host of new outlets accepting Bitcoin as payment at the new Multi Open Shopping Mall. They include a movie theatre, stores, and other commercial areas. More than 90 outlets in the arena are expected to accept BTC. The BTC payment will be enabled in partnership with Bancryp which has also invested in an office in the space. Florianopolis is swiftly becoming an important tech hub of the country and accepting crypto payments will bring more investment and jobs to the area. P2P Bitcoin Traders Adopt New Price Index: P2P Bitcoin vendors in Brazil have adopted a different Bitcoin price index because of premium related issues. While Bitcoin trading on exchanges is booming in the country, P2P vendors and traders like the ones operating on localbitcoins.com have different dynamics and thus have jacked up the price of the cryptocurrency which is a little higher than the latest official exchange rate. There is a new index called the Brazilian Real Index (BRIX) that now truly determines the actual exchange rate in these cases. It has already been adopted by invested.com in the country. New Bill Could Help Blockchain Penetrate Further: Newly elected president Jair Bolsanaro will soon sign a new decree that will help cryptocurrencies and blockchain projects working in the country. According to the Civic House of the Republic, the new bill will include provisions to integrate all documents with the CPF (Register of Citizens). The new CPF integration will be registered on the blockchain, on a platform developed in partnership with Dataprev. With this implementation, Brazil will become the first country to register its citizens on a blockchain application. Argentina First Export Deal Settled with Bitcoin Payment: The Argentinian government has exported pesticides and fumigation products to Chile using Bitcoin in a first between the two countries. The deal was worth USD 7,100 and may form the basis of increased BTC use in the region. The payment was facilitated by Bitex, a South American crypto payments enabler. Argentina is seeing increasing adoption of cryptocurrencies as the country is suffering from hyperinflation and other economic issues. Experts believe cryptocurrencies can help Argentina progress economically. Chile Central Bank Believes Cryptocurrencies are Unable to Substitute Fiat: The Chilean central bank believes that cryptocurrencies do not have the capacity right now to replace fiat currency. In a report sent to the Tribunal de Defensa de la Libre Competencia (TDLC), a competition commission in the country, the bank’s research argues that cryptocurrencies’ market penetration and usage has many issues and it will take time for them to reach at par with the fiat currency. Legal issues and compliance will also be discussed. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post South America: Crypto and Blockchain News Roundup 9th to 15th February 2019 appeared first on BitcoinNews.com.

a month ago

In the Daily: Liberstad Coin, Mining Contracts, Luxembourg Law

In this edition of The Daily, we look at Liberstad’s progress toward building a libertarian community in Norway. The city has just issued its own digital coin. Also, crypto mining contracts have been classified as securities in the Canadian province of Quebec. And in Europe, Luxembourg has adopted a law that protects crypto traders and investors. Also read: Cryptocurrency Payments, Nvidia Losses, Suspended CFD Liberstad Issues Own Token Called City Coin Liberstad, Norway’s self-proclaimed private city, has adopted its own ‘city coin’ as the official currency and the only medium of exchange in the libertarian territory. The crypto is based on Liberstad’s smart city platform City Chain which utilizes blockchain technology to enable the design, implementation and use of services for the city’s inhabitants. A press release detailed: Whereas cities currently rely on public services operated by government entities, City Chain gives existing and emerging cities such as Liberstad the opportunity to build and offer services conducted on a private, internal and voluntary basis. City Chain hosts a number of features for emerging cities like Liberstad. One of them is City Hub, a dashboard for smart city inhabitants that citizens can access through a mobile app. It allows users to interact with the community, vote on or launch new initiatives, register property and contract insurance, among other options. The platform’s native token can already be traded. It’s available on the P2pb2b exchange and Liberstad’s own Block Exchange. According to its creators, city coin will be used to buy products and services within the city, pay wages as well as for funding civic projects. New investors will also be able to purchase land plots with the coin in the future. The anarcho-capitalist city claims it has already sold over 100 plots to investors coming from various countries. Last year, the project announced it accepts payments in 27 different cryptocurrencies including bitcoin cash (BCH) and bitcoin core (BTC). Mining Contracts Classified as Securities in Quebec The Financial Markets Authority of Quebec (AMF) has stated that cryptocurrency mining contracts can fall under existing regulations for securities. The Canadian regulator made the announcement in relation to a request that the investors of a crypto mining company contact the AMF regarding unrecovered investments, The Daily Hodl reported. According to the publication, Technologies Crypto Inc. reportedly took $300,000 from investors. They expected their money to be used for cryptocurrency mining. However, many investors have not been able to contact the company for a while. Jean-François Fortin, an AMF official, commented: With this decision, the Financial Administrative Tribunal ruled for the first time that an investment offer related to cryptocurrency mining may constitute an investment contract, i.e. a security whose public offering is regulated. In February, the AMF asked the tribunal to issue a series of freezing orders against Technologies Crypto Inc. The company should release custody of its mining equipment and cease all activities related to the trade of securities. The regulator also invited its investors who have to contact the authority and ask for assistance. Luxembourg Adopts Law to Protect Crypto Investors The small nation of Luxembourg has adopted a law that will provide protection for cryptocurrency traders and investors. Lawmakers who supported the so-called ‘blockchain bill’ hope that it will bring more transparency to the crypto markets. The legislation was passed with an overwhelming majority of 58 out of 60 votes. According to an announcement published on the website of Luxembourg’s Chamber of Deputies, Bill 7363 is expected to provide financial market participants with legal certainty for the circulation of securities via distributed ledgers. The authors also want to make the transfer of securities more efficient by reducing the number of intermediaries. With the adoption of the draft, Luxembourg becomes a member of the club of European nations that have taken steps to regulate the crypto space. Other jurisdictions in the group include Switzerland, Estonia, Malta, Gibraltar, and the Isle of Man. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post In the Daily: Liberstad Coin, Mining Contracts, Luxembourg Law appeared first on Bitcoin News.

a month ago

Vinny Lingham: Crypto Market Won’t Recover Anytime Soon

Vinny Lingham, a general partner at Multicoin Capital and the CEO of Civic, believes the crypto market won’t recover any time soon. He said: The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory. Don’t underestimate the power of psychology in free markets. Why Crypto Could Take a Long Time to Recover In 2017, the crypto market saw one of the most intense bull runs in its decade-long history fueled by the sudden emergence of retail traders and individual investors in regions like Japan and South Korea. At one The post Vinny Lingham: Crypto Market Won’t Recover Anytime Soon appeared first on CCN

a month ago

VC Investor Tim Draper Made $89M From His Bitcoin Investment in 5 Years

Billionaire venture capital investor Tim Draper has made $89.1 million from his Bitcoin investment in less than five years. In 2014, Tim Draper purchased a bulk of 30,000 BTC from the U.S. authorities in an auction. He outbid all participating investors by paying $632 per Bitcoin, with a slight premium. The $18.96 million he spent in 2014 is now worth $108 million despite the 80 percent correction the dominant cryptocurrency experienced in the past 12 months. Money Makes Money: Bitcoin is a Prime Example Previously, as CCN reported, a South Africa Shark Tank host and Civic CEO Vinny Lingham suggested The post VC Investor Tim Draper Made $89M From His Bitcoin Investment in 5 Years appeared first on CCN

a month ago

Crypto Pioneer Vinny Lingham Says Bitcoin Block Size Should Be Reduced

Vinny Lingham, who is the founder of blockchain-fueled ID platform Civic, is speaking out about the Bitcoin block size and the Lightning Network payment protocol. A debate has been unfolding on this very topic. The Bitcoin block size is currently limited to 1 MB, which according to Lingham is an “arbitrary number.” He says that if Bitcoin is going to depend on the second layer (L2) payment protocol Lightning Network for scale, the 1 MB block size “makes no sense.” Lingham proposes lowering it to 350,000, which was also suggested by a blockchain researcher, adding that it’s “practical and can help move transactions to L2.” Others on the Twitter thread argued that the relevant block size is based on block weight limit, which is more like 4 MB. Lingham maintained that the same point applies. (GT)

a month ago

Civic [CVC] Price: Questions Raised Over Whether Top Performer Civic Can Sustain Its Spike?

[caption id="attachment_33211" align="alignnone" width="994"] Civic Weekly Chart - Source: Tradingview.com[/caption] Since steep declines took place in mid-November, Civic has been finding support around the $0.046 level. The blockchain identity company was founded by one of the sharks on Shark Tank, Vinny Lingham. Civic has been underperforming the top cryptocurrencies over the past few...

a month ago

Bitcoin Believer Dons Down Jacket, Awaits 12-24 Months Of ‘Crypto Winter’

Ledger CEO Believes Bitcoin Bear Market May Continue For Two Years For the longest time, the most fervent believers in Bitcoin (BTC) have been permabulls — touting unrelenting positivity regarding this nascent industry that is potentially paradigm-shifting. Yet, since early-2018, when the current so-called “crypto winter” grew some roots, industry insiders have begun to express skepticism. While this bearish sentiment often pertains to shorter time periods, with some stating that lower lows are inbound in the next couple of months, some notable participants in this sector have begun to extend their harrowing predictions further out, while remaining positive for the long haul. This theme was only cemented recently as CCN’s Christina Comben sat down with Eric Larchevêque, the chief executive of French crypto upstart Ledger, to talk sentiment at the recent CES 2019 event in Las Vegas. And no, unlike his privacy-centric startup, Larchevêque was quite open about many things (maybe too open). After discussing the Yellow Vests‘ alignment with the raison d’etre of Bitcoin, the value of Ledger’s hardware wallet products, the importance of cryptocurrency security, among other pertinent topics, Larchevêque dived into the nitty-gritty. This, of course, is his predictions for this budding market, and how the recent industry deep freeze has affected his company’s bottom line. He claimed that obviously, his company has been posting fewer sales, as traffic to the official Ledger website has dissipated. And unfortunately, while Larchevêque did admit that crypto security is a necessity, he remarked that further dismal price action is inbound. In fact, the French entrepreneur noted that this market could easily see another “12-24 more months of a bear market.” Echoing comments from Jim Breyer, an early backer of Facebook, Circle, Ethereum (ETH), and VeChain (VET), Larchevêque even noted that nuclear winter is even a possibility. Larchevêque did, however, explain that this dismal outlook is a byproduct of the community’s sentiment that BTC is in the midst of a cycle. Yet, he did admit that eventually, Bitcoin may turn bullish again, but it “may take some time.” Crypto Insiders Turn Bearish The chief executive of Ledger isn’t the only industry insider to be a bit wary of what’s to come. Vinny Lingham, the head of Civic, recently took to Twitter to release a foreboding comment. Per previous reports from this very outlet, Lingham, who became a voice of rationality in 2017’s parabolic rally, noted that if Bitcoin falls under $3,000, which is regarded as a level of utmost importance, the current “crypto winter” will become a “crypto nuclear winter.” Even Anthony “Pomp” Pompliano, one of the most well-known industry optimists, recently told CoinTelegraph, as reported by Ethereum World News previously, that he expects that more froth needs to get cleaned from this tumultuous market. In the past, he hinted at the $2,500 level as a potential long-term floor. This isn’t to say that they’re all bearish for the long haul, however. Case in point, Murad Mahmudov, an analyst who believes $1,700 for BTC is inbound, once remarked on a Tone Vays guest appearance that he wouldn’t spend the flagship cryptocurrency for at least a decade, as the opportunity cost of spending it at current rates is much too high. Title Image Courtesy of Dominik Dombrowski on Unsplash The post Bitcoin Believer Dons Down Jacket, Awaits 12-24 Months Of ‘Crypto Winter’ appeared first on Ethereum World News.

a month ago

Fed Chair Concerned About $22 Trillion US Debt, is Bitcoin a Viable Alternative?

The US national debt now stands at $21.974 trillion, a 10% increase since President Donald Trump took over the oval office. And Bitcoin may be the needle people need to pop the debt bubble. Fed Chair Jerome Powell, talking about the $22 trillion US debt: "I'm very worried about it, but from the Fed's standpoint . . . the long-run fiscal non-sustainability of the US federal government isn't really something that plays into . . . our policy decisions." Buy bitcoin. — Jake Chervinsky (@jchervinsky) February 1, 2019 “From the Fed’s standpoint, we’re looking at a business cycle length: that’s our frame of reference,” Powell said. “The long-run fiscal, non-sustainability of the U.S. federal government isn’t [really] something that plays into the medium term that is relevant for our policy decisions.” Understanding the Debt Bubble In retrospective, the national debt is a way of measuring what the US government owes to its creditors. Since the government always spends more than what it takes, the said debt continues to rise. For instance, under the Obama administration, the national debt had increased from $10 to $20 trillion - a spotless 100 percent. In the past 60 years, the US government has struggled to balance the budget - by spending and earning at an equal level. Every passing administration left a higher debt burden for the next, starting with President Ronald Reagan via President Clinton to President Obama. The US never came out of the so-called debt bubble. But it doesn’t necessarily mean that they cannot. After all, the US is sitting atop a dollar printing press. Ideally, Uncle Sam can print its own money, unlike other nations. The size of their debts - arguably - does not matter because the government can pay its debt any day it wants. They would not have to impact the standard of living. According to the Bretton-Woods agreement, the World Bank and the IMF made US Dollar as the world’s only global reserve currency. That led governments across the globe to stash the greenback in their central banks. It created demand, and the US Federal Reserve limited supply. As of now, there are approximately 1.2 trillion US Dollars in circulation. That is not enough to settle day-to-day global trades: to purchase oil, gas, coffee, corns, and even iPhones. Countries, on the other hand, are sitting atop larger dollar reserves. China, for instance, has $4 trillion; Japan has over $1 trillion - and so on. Why Bitcoin? The only thing that changed between then and now is the internet. The millennials now have information about the debt bubble. They understand how every dollar in their pocket is indebted. They also realize that their own national currency is indebted to an-already indebted US Dollar. Bitcoin enthusiasts project the digital currency as a solution to beat down the dollar hegemony. It expects millennials to exchange their national fiats for a technology that is independent of the US debts, government policies, Federal rate hikes, and whatnot. Vinny Lingham, the founder of Civic, said that bitcoin’s intrinsic attractiveness against the debt bubble would attract more wealth. “More wealth will be created in crypto over the next 10 years, than over the prior 10 years,” said Lingham. But remember, like any success story, it’s not going to be a straight line up. Keep believing and just be patient.” Erik Voorhees, the founder of Shapeshift, hoped that the world would hedge their savings into bitcoin once the next financial crisis hits. When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can't possibly ever pay it back, and thus must print it instead, and thus fiat is doomed... watch what happens to crypto. — Erik Voorhees (@ErikVoorhees) November 8, 2018 “They,” Voorhees said while referring to cryptocurrencies like Bitcoin, “may drop during the early phase liquidity crunch, but ultimately the world will move away from fiat money (printed without end, trending toward zero) toward crypto money (known, transparent, fixed supply, not subject to politicians’ opportunism).” At the same time, economists have a different opinion. Nouriel Roubini, a New York-based financial expert, said that bitcoin was a mother of all scams. He added that cryptocurrencies were a wet dream of individuals with zero financial literacy. Warren Buffet, a Wall Street investment giant, refused to consider Bitcoin as an investment. “If you buy something like bitcoin or some cryptocurrency, you don’t have anything that is producing anything,” Buffett said in an interview with Yahoo Finance. “You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks he’s going to find someone that’s going to pay more.” The post Fed Chair Concerned About $22 Trillion US Debt, is Bitcoin a Viable Alternative? appeared first on NewsBTC.

2 months ago

Blockchain Identity Startup Glyph Announces Partnership With 3 Crypto Firms

Decentralized blockchain-based identity startup has announced its partnership with three crypto startups: Polymath, Swarm and Dealbox. It will make ID verification more convenient for accredited investors since all three sites are for managing digital securities. Launched in 2017, Glyph claims it will be adding six additional partners soon. However, the blockchain identity space is getting crowded with companies such as Civic, Sovrin, and uPort. Glyph will verify accreditation status every 90 days and report it to the exchanges. (VS)

2 months ago

Vinny Lingham says Bitcoin will Enter 'Nuclear Winter' if it Drops Below $3,000

Civic CEO and Multicoin Capital general partner Vinny Lingham recently said that if Bitcoin price drops below $3,000 it will face serious problems that could kick off a “nuclear winter”. Lingham made the comments in response to a tweet by popular crypto-analyst MAGIC, who suggested that if Bitcoin “falls about 5% lower to about $3,300, it will be testing the ever important weekly 200 MA, which is what we bottomed on in January.” Three Arrows Capital CEO Su Zhu said that each time Bitcoin dropped to the $3,000 region, big buy walls on crypto-to-fiat exchanges like Coinbase and Bitstamp formed. At the time of writing, Bitcoin is down 3.76% and the price is $3,463. (RS)

2 months ago

Why a Sub-$3,000 Drop Will Mean Bitcoin Has Entered ‘Nuclear Winter’

Vinny Lingham, a general partner at crypto fund Multicoin Capital and the CEO at Civic, has said that if the Bitcoin price drops below $3,000, it will face serious problems. In an event in which the Bitcoin price plunges to the $2,000 region — breaking a major support level at $3,000 — the investor said that crypto winter would turn into “nuclear winter.” If we break below $3000 for Bitcoin,...

2 months ago

Markets Update: Crypto Prices Drift Sideways While Traders Remain Uncertain

A lot has changed since our last markets update as digital asset prices have been consolidating after the cryptoconomy’s last big drop in value. The entire ecosystem’s market valuation has lost about $10 billion over the last week, but stronger global trade volumes have managed to keep values afloat at current prices as traders await the next big wave of movement. Also Read: Embracing Utility in 2019: Unreliable Crypto Networks Will Lose to Hyperbitcoinization A Strong Scent of Uncertainty In the Air Another week has passed in cryptocurrency land, during which most digital asset markets have been consolidating tightly into a downward triangular pattern. At the moment, the entire crypto economy of all 2,000+ assets is hovering at about $120 billion with around $15.6 billion worth of global trades. Currently, bitcoin core (BTC) prices are meandering just above $3,650 with a market capitalization of about $63.8 billion. BTC captures roughly $5.2 billion in trade volume but the asset is down 2.6% for the week. Top 10 cryptocurrency markets Jan. 17, 2019. The second largest market valuation belongs to ripple (XRP) this Thursday, as each coin is swapping for $0.32 per unit. This gives XRP a market cap of around $13.4 billion and the market’s 24-hour volume is about $418 million worth of global trades. Ethereum (ETH) is trading for $122 per coin on global spot markets with a $12.8 billion market valuation. The cryptocurrency is down 0.96% today and 6.4% for the week. Lastly, eos (EOS) is up 0.86% today as each coin is trading for $2.43 per unit. Eos has around $667 million worth of 24-hour trades and a market cap of about $2.2 billion. Bitcoin Cash (BCH) Market Action Bitcoin cash (BCH) is trading for $132 per coin and has a market cap of about $2.3 billion this Thursday. BCH is currently up a hair at 1.02% during the last 24 hours, but the currency is down 4% for the week. The top five exchanges trading the most bitcoin cash today are Coinsuper (BCH/BTC), Huobi (BCH/USDT), P2pb2b (BCH/ETH), Dragonx (BCH/USDT), and Fatbtc (BCH/CNY). The dominating currency paired with BCH today is ETH as it captures 44.9% of trades. This is followed by USDT (29%), BTC (15.4%), USD (5.9%), EUR (1.7%), and JPY (1.5%). BCH is the seventh most traded coin by volume below XRP’s global volume and just above dash. Bitcoin Cash (BCH) market action seven-day chart on Jan. 17, 2019. BCH/USD Technical Indicators Looking at the four-hour charts on Bitstamp for BCH/USD shows there’s been a lot of changes since our last markets update. Things look more bearish, as the two Simple Moving Averages (SMA) have once again crossed hairs and the long-term 200 SMA is now above the 100 SMA trendline. This indicates that currently the path toward the least resistance is in favor of the bears. RSI levels are meandering in the indecisive middle range (~46.5) which is neither oversold nor overbought at press time. BCH/USD Bitstamp 4 hour. Jan. 17, 2019. Stochastic shows similar readings and the MACd indicates some downward pressure over the short term. Looking ahead at order books shows similar resistance between the current vantage point and $135 and even larger walls between that range and $155. If the bears remain in control then they will see pit stops and strong buying between now and $110. After breaking the psychological $100 level, BCH bears will likely see some bigger foundations. BCH/USD Bitstamp 4 hour. Jan. 17, 2019. Bollinger Bands are extremely tight. The Verdict: Continued Sideways Action and Indecisive Traders Traders are again wondering what will happen next with the ever-dynamic cryptocurrency markets. Some traders believe we’ve seen the mythical bottom and are betting long positions from here on out. However, bitcoin futures expiries from CME and Cboe suggest those traders are short on BTC’s upcoming price performance. BTC/USD shorts and longs on Bitfinex. Jan. 17, 2019. In contrast to futures prices, BTC/USD shorts on Bitfinex have dropped significantly and there are considerably less short positions than in the last three weeks. ETH/USD short positions are much lower than before as well with only 280,000 shorts. Civic CEO Vinny Lingham, who is sometimes referred to as the “Oracle” because of his past price predictions, explained in a recent interview that BTC will likely trade sideways for a few weeks. “The reality is it’ll probably trade sideways between $3,000 and $5,000 for another month or two while it’s trying to find which way to go,” Lingham said. “When it finds that direction, there’ll be a breakout or a breakdown,” the Civic founder added. His statement aligns with the view held by many traders and forecasters, who remain uncertain of the future of cryptocurrency prices, at least over the short term. Technical analysis, futures prices, shorts and longs, and other indicators will give traders some hints, but as with the world’s traditional markets, anything can happen. Where do you see the price of BCH, BTC and other co

2 months ago

Civic Coin Review: Introduction to CVC

What Is Civic? Civic is a project built on the Ethereum Blockchain which specializes on identity management, providing users real-time protection and authorizing on how their identity is used online. Civic intends on implementing its Identity Verification Services (IDV) using blockchain, so that background and personal information verifications will not be required each time a […]

2 months ago

WordPress.com Creators Partner with Google and Civic Media to Develop Publishing Platform for Digital News Startups

Automattic Inc, the parent company of Wordpress.com, and its partners Spirited Media and News Revenue Hub recently announced a new partnership with multiple parties including Google, the Google News Initiative, and Civic Media (which is backed by ConsenSys) with the goal of developing a new open-source publishing platform designed specifically for digital news startups. The parties involved will be investing a total of $2.4 million in the Newspack platform which seeks to incorporate the best editorial and business practices from the industry. (JF)

2 months ago

The 2nd CVT Token Hunt is on hit! This time we are in China!...

The 2nd CVT Token Hunt is on hit! This time we are in China! For more details, please scan the QR Code for WeChat o… https://t.co/N9yejIRoTf

2 months ago

Bitcoin Approaching a 'Breakout or a Breakdown,' Says Civic CEO Vinny Lingham

Vinny Lingham, Civic CEO and former Shark Tank investor, has given a recent interview where he discusses the price of Bitcoin. The video interview was published yesterday by Cheddar.com. Lingham started the interview by stating that there is a good chance that Bitcoin will retest $3,000 as a bottom, and if it hits that low we will probably see a breakthrough. He thinks the market is searching...

2 months ago

Vinny Langham says the Crypto Market Won't Recover Anytime Soon

Multicoin Capital partner and Civic CEO Vinny Lingham recently said that “The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory.” Lingham urges investors to not “underestimate the power of psychology in free markets” and the absence of rapacious demand like the type seen throughout 2017 is manifest in the form of consistently low volume in the crypto market. Throughout 2017 teenagers, millennials, and even adults near retirement heavily invested in cryptocurrencies and the following year-long bear market has wiped many of these investors out and left them with debt. As Lingham suggests, it will take some time for retail traders to psychologically recover from this trauma. Data shows that it takes roughly 62 weeks for the crypto market to recover from major corrections and as this date draws near, all investors will have their attention fixed on Bitcoin’s performance. (RS)

2 months ago

CivicKey CEO on Bitcoin Price: “Good Chance We’re Going to Retest $3,000”

The co-founder of blockchain-based identity management platform CivicKey has weighed in about the current state of the cryptocurrency markets. Amongst other things, Vinny Lingham stated that he feels the Bitcoin price will retest the $3,000 level in the near future. The South American internet entrepreneur also explained how his own startup had managed to weather the dramatic plunge in cryptocurrency prices better than many of its peers. Moving to Cash Helped Civic Stay Afloat Despite Falling Bitcoin Price In an interview with financial news streaming network Cheddar, Vinny Lingham has spoken about his short-term outlook for the Bitcoin price. The CEO and co-founder of the blockchain identity protection firm CivicKey told presenters that a $3,000 was to be expected in the coming weeks. He went on to state that this level was also likely to break to the downside: “I think there is a good chance we’re going to retest $3,000 as a low. There is a good chance we’ll probably break through that if it heads that low.” Lingham went on to state that months of sideways trading was also more likely than the parabolic move upwards that almost everyone involved in cryptocurrency is hoping for. The CEO claimed that a price range of between $3,000 and $5,000 seemed realistic before either a “breakout or a breakdown”. In response to Lingham’s point about a resumption of sideways trading, one of the reporters drew attention to the last time the Bitcoin price remained relatively stable for months at one price point. The journalist reminded Lingham that the price broke to the downside, resulting in the $3,000 to $4,500 trading range we seem to be currently stuck in. He then posited the question if such sideways trading would be good or bad for the market. Lingham replied: “Bitcoin particularly has this history of bubbles and busts. When there is upward momentum, the going gets good, everyone gets on board, and it rises to the next level. Sideways trade doesn’t really help us because at this point in time we have more sellers than buyers - people trying to get out from ICOs etc. and that’s a problem. There’s no real momentum into the crypto market right now.” The conversation then shifted to how the current bear market had impacted Lingham’s own project, CivicKey. The entrepreneur stated that he felt that many other firms in the space had been left much worse off following the rapid decline of prices to their current levels. Thanks to its policy of cashing out most of the crypto raised by ICO in 2017, CivicKey was able to stay afloat much more easily than firms like Steemit, who have been forced to layoff large percentages of their workforce. The CEO was careful to state that just keeping money in cash rather than cryptocurrency would not guarantee Civic’s survival. He went on to say that it was important for his company and all the others involved in the space to watch their expenses and manage their treasuries effectively. Finally, he hinted that more companies may be forced to make layoffs or streamline their operation in some way: “I think more companies in the space have to tighten their belts and make sure that they have enough run way to get their product to market.” Related Reading: Cryptocurrency Bear Market Pressures Shapeshift into Layoffs Featured Image from Shutterstock. The post CivicKey CEO on Bitcoin Price: “Good Chance We’re Going to Retest $3,000” appeared first on NewsBTC.

2 months ago

It’s time Bitcoin returns to its roots

The crypto-sphere underwent a sort of transformation in 2018... Consider it the awkward teenage years of the burgeoning space. Bitcoin stumbled, struggling to find its place in the world. And regulators, officials and traditional economists didn’t make it much easier. Now, going into 2019, the industry is caught between two warring worlds. That of Big Finance, and the decentralized dream of the cypherpunks of yesteryear. While some ‘old heads’ are still carrying on the idealistic spirit of the world’s first cryptocurrency, a wave of new blood that is less concerned about anonymity and security and more focused on taking control the transformative qualities of this ‘new money’ has entered the mix. So which will it be? The answer isn’t so easy. Can we have our cake and eat it too? The case for decentralization The crypto revolution was the catalyst which sparked the resurgence of an old idea. The idea of a decentralized world where we were all on an equal playing ground. It was an inclusive movement where, for the first time in a long time, the charge against the establishment was led by the people and for the people. The crypto movement wasn’t about occupying Wall Street, it was about ignoring it completely and carving out our own financial futures. And that idea translated well. Beyond big finance, the tech behind bitcoin sent ripples through every industry imaginable. From energy to retail, no stone has been left unturned. Because blockchain, right? And the hype is justified. It’s great technology, after all. Everything from how we vote in a democratic election to our own identification can benefit from this tech. It has it all - it’s a decentralized solution that offers transparency, accountability and real functionality. If you’re reading this, I’m sure you’re with me so far... So what’s the problem? Well, maybe we’re not as decentralized we hoped we’d be by now. The institutional conundrum One of 2018’s biggest buzzwords was ‘institutional adoption.’ The influx of institutional involvement was supposed to be the chocolate syrup on top of our sundae. We were supposed to leave $20,000 in the wind, hopefully saving John McAfee from, well, himself in the process. Institutions piled in, yeah. But it didn’t quite have the impact we expected. In fact, it was quite the opposite. Bitcoin lost almost 85 percent of its value. Other cryptos fared even worse. And while crypto enthusiasts and analysts alike scramble to find a clear cause for the decline, the answer might not be as black-and-white as many are making it out to be. There’s a whole array of factors at play. From regulation and market manipulation to sheer negative sentiment and a general loss of interest, every little piece of news fell on markets like a piano in an episode of Looney Toons. And worse still, they are taking the industry from us. Institutional trading volume is up while small trades and retail transactions have flatlined. Moreover, the dream of decentralization is slipping through our fingertips right before our very eyes. But not all is lost just yet... 2019 is the year we go back to the basics Seen as the long game in Bitcoin, decentralization is a force many in the space are truly fighting towards, and progress is being made. If you take the time to sift through the news of Big Banks entering the space and the price hype that led so many astray, there are actually a lot of really interesting projects being built. But the biggest problem is that no one is using them. Yet. When the crypto bubble burst, a lot of would-be participants abandoned ship, and we’ve got to get them back on board. I know it’s a sore subject for those who told their friends to buy in at bitcoin’s 2017 peak, but it’s time to rally the troops once again. And this time, it’s not about how much money you can make, but why we need to make the shift if the first place. The benefits of Bitcoin do not lie solely in its dollar value, after all. From Liquidity to RSK and the Lightning Network, developers are constantly adding new functionality to the world’s first blockchain, and it’s not likely to slow down any time soon. If 2017 was the year of the ICO, and 2018 was the year of institutional, 2019 will be the year we take it all back and return to our roots. 2019 will be the year Bitcoin truly finds its footing. “Decentralization has, not only an administrative value, but also a civic dimension, since it increases the opportunities for citizens to take interest in public affairs; it makes them get accustomed to using freedom. And from the accumulation of these local, active, persnickety freedoms, is born the most efficient counterweight against the claims of the central government, even if it were supported by an impersonal, collective will.” - Alexis de Tocqueville The post It’s time Bitcoin returns to its roots appeared first on Crypto Insider.

2 months ago

Civic’s token illustrates why companies masquerading as tokens will fail

Civic, the identity system founded by self-proclaimed “Bitcoin Oracle” Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches presented. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN”, without any explicit goals to incorporate a token or blockchain at the time. The company raised ~$33m in funds through an ICO that looked like the world’s most bizarre nightclub line: in it, tens of thousands of participants were placed in a queue and randomly allowed access to purchase CVC tokens priced at $0.10 each, regardless of when they joined. Of the one billion tokens, 33% were sold in the ICO, with another 33% retained by the Civic team, 33% to incentivize the community, with 1% left over for running the sale. I imagine that the conversation between Vinny and his engineering team went something like this: Vinny: Team, we need to put this on The Blockchain. Team: Err, come again? We can just store this stuff locally or some distributed system that doesn’t need a chain of blocks. Vinny: Sounds good, let’s use Blockchain and raise an ICO. Team: Wait, what? The token question was always a bit of a mess. The Bitcoin Oracle stated over and over again in 2017 that the CVC token, initially issued on Ethereum, was a temporary decision until the launch of Rootstock, a smart contract platform implemented as a Bitcoin sidechain. The question of why Civic, a centralized company that had an existing mobile identity product, needs a token is an excellent question and answered at first in an 18-page whitepaper, which spends more time explaining 50,000 views of the digital identity industry and how blockchains work than covering the specific utility of the CVC token. Diagram from the original Civic white paper explaining how the system works In this case, as seen in the diagram, the original CVC token vision was to create utility through its use as an “ecosystem token.” In the Civic ecosystem, the places where circles are examples of places where the CVC token is “used as a form of settlement between participants to an identity-related transaction within the Ecosystem.” If you’re not trying to deceive unsophisticated retail investors, another way to think about it is just that the token is used for payment. Even if their platform is useful, the question every ICO team should be asking is still outstanding: why use a proprietary token for payment when a fiat-backed token (more stable), bitcoins (decentralized money token), or just dollars (simple) suffice? The white paper presented 4 extremely compelling reasons: It can be used across any number of jurisdictions, retaining a single uniform method of settlement. nods head, thinking “Bitcoin can do the same thing.” Using a blockchain-based token makes it possible to perform settlements automatically and irrefutably within a smart contract nods head, thinking “Bitcoin, Ethereum, and a number of other existing public blockchains allow for this too.” Having a unique, specialized token for accessing identity services provides stability and shields the Ecosystem from extraneous considerations that can make other cryptocurrencies volatile Oh man, this is just great. Forgetting that all unpegged cryptocurrencies are money (some more liquid than others, like gift cards), it’s unclear why this is even intuitive (or went unquestioned by so many). Fortunately, we can see empirical confirmation that Civic’s team aren’t token engineering alchemists who’ve figured out the holy grail of price stability: Civic is down 96% from its all-time high, now trading at half its’ ICO price. Chart courtesy of OnChainFX It makes it possible to manage incentives in a way that drives Ecosystem effects for the benefit of all participants in the Ecosystem This is the most substantive bullet. Civic, like many others, believes that the token allows them to “manage incentives” to solve the bootstrapping problem early-stage startups often face. However, in practice, “managing incentives” looks a lot more like “give away tokens to try to bribe people into building stuff with our technology.” Let’s call this the Token Engineering Reality Distortion Field (or TERDF for short). Another generous reading of why Civic kept so many of the generated tokens is that they can use the value of those tokens to subsidize the cost of KYC verification, which then makes the service more appealing to prospective partners (given the increased number of users on the platform). For those who think I’m kidding, in a September interview, Vinny implied that why the giveaway-based growth model that nearly bankrupted PayPal could work: Paypal got it right with the whole $10 free if you invite a friend and it nearly bankrupted the company. They managed to crack the chicken and egg problem doing it that way. In an earlier blog post titled “Why Tokens are Eating the World” (a play on Mar

3 months ago

Civic’s token illustrates why companies masquerading tokens will fail

Civic, the identity system founded by self-proclaimed “Bitcoin Oracle” Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches presented. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN”, without any explicit goals to incorporate a token or blockchain at the time. The company raised ~$33m in funds through an ICO that looked like the world’s most bizarre nightclub line: in it, tens of thousands of participants were placed in a queue and randomly allowed access to purchase CVC tokens priced at $0.10 each, regardless of when they joined. Of the one billion tokens, 33% were sold in the ICO, with another 33% retained by the Civic team, 33% to incentivize the community, with 1% left over for running the sale. I imagine that the conversation between Vinny and his engineering team went something like this: Vinny: Team, we need to put this on The Blockchain. Team: Err, come again? We can just store this stuff locally or some distributed system that doesn’t need a chain of blocks. Vinny: Sounds good, let’s use Blockchain and raise an ICO. Team: Wait, what? The token question was always a bit of a mess. The Bitcoin Oracle stated over and over again in 2017 that the CVC token, initially issued on Ethereum, was a temporary decision until the launch of Rootstock, a smart contract platform implemented as a Bitcoin sidechain. The question of why Civic, a centralized company that had an existing mobile identity product, needs a token is an excellent question and answered at first in an 18-page whitepaper, which spends more time explaining 50,000 views of the digital identity industry and how blockchains work than covering the specific utility of the CVC token. Diagram from the original Civic white paper explaining how the system works In this case, as seen in the diagram, the original CVC token vision was to create utility through its use as an “ecosystem token.” In the Civic ecosystem, the places where circles are examples of places where the CVC token is “used as a form of settlement between participants to an identity-related transaction within the Ecosystem.” If you’re not trying to deceive unsophisticated retail investors, another way to think about it is just that the token is used for payment. Even if their platform is useful, the question every ICO team should be asking is still outstanding: why use a proprietary token for payment when a fiat-backed token (more stable), bitcoins (decentralized money token), or just dollars (simple) suffice? The white paper presented 4 extremely compelling reasons: It can be used across any number of jurisdictions, retaining a single uniform method of settlement. nods head, thinking “Bitcoin can do the same thing.” Using a blockchain-based token makes it possible to perform settlements automatically and irrefutably within a smart contract nods head, thinking “Bitcoin, Ethereum, and a number of other existing public blockchains allow for this too.” Having a unique, specialized token for accessing identity services provides stability and shields the Ecosystem from extraneous considerations that can make other cryptocurrencies volatile Oh man, this is just great. Forgetting that all unpegged cryptocurrencies are money (some more liquid than others, like gift cards), it’s unclear why this is even intuitive (or went unquestioned by so many). Fortunately, we can see empirical confirmation that Civic’s team aren’t token engineering alchemists who’ve figured out the holy grail of price stability: Civic is down 96% from its all-time high, now trading at half its’ ICO price. Chart courtesy of OnChainFX It makes it possible to manage incentives in a way that drives Ecosystem effects for the benefit of all participants in the Ecosystem This is the most substantive bullet. Civic, like many others, believes that the token allows them to “manage incentives” to solve the bootstrapping problem early-stage startups often face. However, in practice, “managing incentives” looks a lot more like “give away tokens to try to bribe people into building stuff with our technology.” Let’s call this the Token Engineering Reality Distortion Field (or TERDF for short). Another generous reading of why Civic kept so many of the generated tokens is that they can use the value of those tokens to subsidize the cost of KYC verification, which then makes the service more appealing to prospective partners (given the increased number of users on the platform). For those who think I’m kidding, in a September interview, Vinny implied that why the giveaway-based growth model that nearly bankrupted PayPal could work: Paypal got it right with the whole $10 free if you invite a friend and it nearly bankrupted the company. They managed to crack the chicken and egg problem doing it that way. In an earlier blog post titled “Why Tokens are Eating the World” (a play on Mar

3 months ago

SyncFab manufacturing Blockchain [R] integrates MFG Digital Token Wallet for manufacturing RFQs and purchase orders

SyncFab, the industry first manufacturing blockchain ® for Industrial OEM supply chain procurement management, successfully integrated a dedicated fully functional Digital Wallet for the MFG Token with its procurement platform for use with manufacturing service RFQs and purchase orders. Following this recent milestone, SyncFab continues the Supply Chain 4.0 revolution integrating more manufacturing partners on the digital supply chain procurement platform. With great anticipation for what 2019 has in store for Supply Chain Digitisation, SyncFab has been working tirelessly throughout the fall 2018 season improving its existing web 2.0 procurement platform while adding blockchain functionality as a precursor to its 3.0 Testnet launch in winter 2019. In its latest development update, SyncFab shared its latest milestone completing the official MFG digital token wallet launch and platform integration for use with manufacturing service RFQs and purchase orders, for which they have begun a test trial with select users. It is expected that more users will receive the update in the weeks ahead. The Official MFG wallet will ultimately replace the Ambisafe MFG wallet that was first used, so existing wallet users are asked to follow upcoming timing notifications when to transfer existing MFG balances to the newly released official MFG wallet on the SyncFab platform or to another compatible digital wallet of the users choosing before the Ambisafe wallet is fully phased out. The latest information can be found on the official website. Ongoing testing of the official MFG wallet includes MFG purchases for manufacturing services to be incorporated in the RFQ submission process along with use of MFG tokens to incentivize manufacturers to join SyncFab and submit quotes. MFG rewards will be distributed primarily to losing bidders as an offset when they do not win an order in recognition of the effort required for making their bid for the RFQ. As this new incentive model is refined through testing, SyncFab will solidify its foundation to support a robust decentralized network that improves the manufacturing supply chain process for all of its participants in the years ahead. About SyncFab Founded and headquartered near Silicon Valley, SyncFab is a manufacturing blockchain ® platform that streamlines the way industrial OEM supply chain buyers procure, manage, and track precision parts production securely using blockchain technology. Through partnerships with federal government and municipal smart city initiatives, SyncFab helps spur economic development by making regional suppliers with idle manufacturing capacity more accessible and responsive to buyers to enable a shift towards cleaner, local manufacturing supply chain worldwide. SyncFab is founding member of CESMII, the U.S. Department of Energy’s Clean Energy Smart Manufacturing Innovation Network appointed by the White House. SyncFab municipal partners include the San Francisco bay area city of San Leandro as part of the San Francisco Civic Innovation program, which includes Oakland, San Jose, Sacramento and other cities. To know more: Website Blog Telegram Twitter The post SyncFab manufacturing Blockchain [R] integrates MFG Digital Token Wallet for manufacturing RFQs and purchase orders appeared first on AMBCrypto.

3 months ago

Coinbase Announces Rollout in Six New European Markets

CoinSpeaker Coinbase Announces Rollout in Six New European Markets Zeeshan Feroz, Coinbase’s U.K. CEO, said the firm looks for markets that are “close to or within jurisdictions that we operate in today” when it decides on new expansions. The company recently opened a new office in Dublin, as part of a contingency plan to continue to have access to the bloc post-Brexit. Some of the markets Coinbase is expanding into are becoming increasingly popular destinations for cryptocurrency and blockchain-related start-ups. The company was able to participate in a total of 33 countries and help people to buy and sell crypto assets in these countries. Now, Coinbase has added six European markets in the following regions: Andorra, Gibraltar, Iceland, Lithuania, Isle of Man and Guernsey. Today, we’re taking another stride toward realizing our mission of creating an open financial system for the world by announcing the rollout of Coinbase to 6 additional markets around the world. Learn more here: https://t.co/A07HxXmqn1 It's Day 11 of 12 Days of Coinbase. pic.twitter.com/n235o22uyn — Coinbase (@coinbase) December 20, 2018 Gibraltar is, for example pretty interesting because it has a domestic licensing process for such firms to become registered blockchain technology providers. Iceland, however, has become a popular hub for so-called cryptocurrency mining due to an abundance of renewable energy. Feroz said: “I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the market.” Bitcoin has fallen nearly 80 percent since its record high in December last year. The world’s most valuable virtual currency was trading above $4,000 on Thursday for the first time in two weeks. Feroz added: “I think if you look at last year, a lot of the focus was on people who bought crypto from an investment point of view and a lot of projects raised a ludicrous amount of money as a result of that.” In Coinbase they confirmed that the new customers in these markets will be able to make full use of Coinbase.com and their iOS and Android apps, allowing them to buy and sell cryptocurrencies on the Coinbase platform for the very first time. They said they are hoping to make Coinbase Pro and Prime available in these regions over time. Coinbase Believe That Crypto is “Without Borders” Just this week, Coinbase was able to put new assets on the exchange. These were mostly ERC20 Ethereum-based tokens and they were not added to all the jurisdictions of the company until now. These new assets include Golem (GNT), Maker (MKR), DAI and Zilliqa (ZIL). Before that, they launched 0x (ZRX), Basic Attention Token (BAT), and their stablecoin, USD Coin (USDC) across all Coinbase platforms, they also added Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) to Coinbase Pro. The exchange then said: “Our decision to add ERC20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint.” They also announced that next year they will continue expanding rapidly into new regions and adding assets to the Coinbase platform to meet customer demand. Two weeks ago they said they are continuing to explore the addition of new assets. This work also includes close cooperation with regulators and banks in order to make these new cryptocurrencies available for Coinbase customers in as many jurisdictions as possible. The company has also published the list of 31 potential new additions which includes among others the above-mentioned XRP, EOS, Cardano (ADA), NEO and Tezos (XTZ). Nevertheless, the company warns that there is no any guarantee that all the cryptocurrencies included into this list will be added to the platform. Such a situation is explained by the fact that some restrictions could be imposed on concrete coins or they could be not listed due to the results of their evaluation. Some cryptocurrencies may become available only in particular jurisdictions. Coinbase Announces Rollout in Six New European Markets

3 months ago

Despite Bear Crypto Markets, SyncFab Development Continues

Last week, the first manufacturing blockchain for industrial OEM SyncFab rolled out the official wallet for its MFG token. The MFG digital wallet is equipped with features that bring SyncFab closer to actualizing its goal of making manufacturing supply chains more efficient and transparent. SyncFab is a decentralized, blockchain-based platform that connects factories directly to machine parts manufacturers. Manufacturers that use SyncFab will eventually no longer have to rely as much on procurement managers, parts brokers and other intermediaries to manage their supply chains. Instead of paying “finder’s fees” to middlemen, manufacturers can place and track orders through SyncFab. “SyncFab’s integration using blockchain technology makes us an industry first in our space for a public facing platform whereby we recognize the opportunity of being first to pioneer standards for those who would later like the convenience to adopt an existing solution,” said SyncFab Founding CEO Jeremy Goodwin. SyncFab’s newly released MFG wallet is equipped with two new features that take SyncFab one step closer to changing the way that manufacturers interact with their parts suppliers. SyncFab is currently testing both of these features with a select group of customers. Once testing is complete, they will be rolled out to all MFG token wallet users. SyncFab uses MFG token rewards as an incentive for suppliers to participate in the SyncFab network. They can earn MFG by submitting price quotes. The faster a quote is provided, the more MFG they can get. In most cases, whichever bidder gets selected, receives 10% of the total MFG reward. Losing bidders get an 80% share and the remaining 10% goes to the MFG loyalty program. Previously, MFG could only be purchased on cryptocurrency exchanges. Now, MFG can be obtained directly in the MFG wallet. Payment options include debit cards, credit cards and bank transfers. In September of last year, SyncFab partnered with the government of the city of San Leandro, which is located across the bay from San Francisco. The city is helping to onboard its local manufacturers and parts suppliers. Other potential SyncFab partners include giants like Boeing, the world’s largest aerospace company. At last month’s IoT Tech Expo, SyncFab CEO Jeremy Goodwin spoke at a panel discussion to explain to Boeing’s Technical Fellow Dr. Al Salour and others how industrial IoT-enabled smart manufacturing can help manufacturers enhance productivity, improve ROI and aid in process automation. SyncFab’s continued success and growth in the current bear market shows that the company has what many other blockchain projects lack: a clear use case. With the latest developments, SyncFab is solving practical problems to demonstrate that blockchain is more than just a passing fad. About SyncFab Founded and headquartered near Silicon Valley, SyncFab is a manufacturing blockchain® platform that streamlines the way industrial OEM supply chain buyers procure, manage, and track precision parts production securely using blockchain technology. Through partnerships with federal government and municipal smart city initiatives, SyncFab helps spur economic development by making regional suppliers with idle manufacturing capacity more accessible and responsive to buyers to enable a shift towards cleaner, local manufacturing supply chains worldwide. SyncFab is founding member of CESMII, The U.S. Department of Energy’s Clean Energy Smart Manufacturing Innovation Network appointed by the White House. SyncFab municipal partners include the San Francisco bay area city of San Leandro as part of the San Francisco Civic Innovation program, which includes Oakland, San Jose, Sacramento and other cities. This is a paid-for submitted press release. EWN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. EWN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. The post Despite Bear Crypto Markets, SyncFab Development Continues appeared first on Ethereum World News.

3 months ago

XRP pairs with Stellar [XLM], DigiByte [DGB], USD Coin [USDC] on Coinfield

On 18th December, the popular cryptocurrency exchange, Coinfield that is based out of Canada announced that it will be pairing XRP with the fifth largest coin, Stellar [XLM], the stable coin USD Coin [USDC] and Digibyte [DGB]. The platform also announced that it will be expanding its services to 40 new countries. The original tweet read: “New #XRP pairings with Stellar #XLM, DigiByte #DGB and #USDC stablecoin shine as CoinField expands to 40 new countries.” In the month of November, Coinfield had informed its followers that the services of the platform had gone live in 60+ countries at the time. In the same announcement, it had also taken the decision to add XRP for trading on its platform to wherein the commission fee was set at 0.05% and 20 XRP pairs were added including fiat pairs of XRP with USD, CAD, EUR, GBP, JPY, and AED. Now, apart from XLM, DGB and USDC, two other unpopular coins have been added to increase the number of XRP pairs, i.e., Civic [CVC] and Loom Network [LOOM]. XRP has been a pro when it comes to gaining worldwide adoption as its parent blockchain firm, Ripple is inherently a global business. Therefore, XRP has been able to make its way around the globe at a fast pace via the RippleNet. Though successful, XRP has been an integral part of many controversies, from it being alleged security to the ecosystem being highly centralized. Anytime the token is in trouble, the Ripple executives do not fail to step forward and refute such allegations. Moh, a Twitter user and a cryptocurrency space enthusiast on Coinfield’s announcement stated: “awesome you can now get #digibyte #dgb with your #XRP!! Come to the true decentralized #cryptocurrency ! #DGB the standard.” Here, the Twitter handle known as XRP Research Center replied to the above comment and mentioned: “You’re kinda’ implying that XRP is not decentralized with that tweet. I’ll invite you to review what PoW has done with decentralization. Spoiler alert: Utopia.” - XRP Research Center Bobby Dee, who is also a DigiByte fan and follower also reverted and wrote: “In comparison to #DigiByte it is centralized ... and it’s more expensive to transfer value using XRP than DGB” - Bobby Dee The post XRP pairs with Stellar [XLM], DigiByte [DGB], USD Coin [USDC] on Coinfield appeared first on AMBCrypto.

3 months ago

Coinbase Pro Lists Dai, Golem, Maker, and Zilliqa for Select Jurisdictions

US-based cryptocurrency exchange Coinbase today announced that it would be listing four new Ethereum tokens to its Coinbase Pro platform. The tokens are Dai (DAI), Golem (GNT), Maker (MKR) and Zilliqa (ZIL). The exchange is working on its previous announcement for bringing more ERC20 technical standard assets to the platform. Golem is not an ERC20 token but is Ethereum-based. Where Will the Tokens Be Available? The tokens will be available to customers of Coinbase Pro but only in select jurisdictions. Golem and Dai will be available for Coinbase Pro users in the UK, the EU, Canada, Australia, and Singapore. US users, except those in New York, will also get to trade in these coins. Maker and Zilliqa will not be available in the US but will be available for traders in Singapore, Canada, Australia, the EU, and the UK. The exchange started accepting deposits in all four coins around 11:45 am PT on December 18. Deposits will be accepted for 12 hours before trading starts. Then the exchange will enable limit orders. When Coinbase Pro achieves sufficient liquidity for these tokens, full trading will be allowed. Coinbase announced earlier this year that it would support many ERC20 tokens to its platform. Coinbase has already launched 0x (ZRX) and Basic Attention Token (BAT) and added a new stablecoin USDC as well. Coinbase also supported Loom Network (LOOM), Decentraland (MANA), districtox (DN) and Civic (CVC) on its platform recently. Full Token Functionality Not Accessible In a blog post announcing the new listings, Coinbase wrote that it would not provide smart contract functionality immediately to the users. It said: “Each of these tokens has associated functionality, some of which may be in beta. Moreover, each token’s associated functionality is not currently directly accessible via the Coinbase Pro platform.” Golem, for example, connects users to a distributed compute farm which cannot be accessed via Coinbase. Therefore, users who want to participate in the distinctive functionalities of these coins need to move them to a local wallet. Coinbase will only facilitate their buying, selling and storing. The exchange also said that it could bring more digital assets and ERC20 tokens to the platform. It said that adding ERC20 tokens first is relatively simple for them as these assets can easily be integrated into their existing infrastructure. The 12 Days of Coinbase Timeline Day 1- WeGift e-Cards: Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more. Day 2- Zcash Donation to Venezuelan families: The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families. Day 3- Cryptocurrency: The future of finance and money (Video): Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization. Day 4- New Watchlist feature: Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist. Day 5- Enables PayPal withdrawals: In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts. Day 6- Bitcoin donation for Syrian refugees: Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto. Day 7- Coinbase educates users on USDC: TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1. Day 8- Enables direct crypto conversions: Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps. Day 9- Coinbase Pro Lists four ERC20 Tokens: Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions. Day 10- To be confirmed... Day 11- To be confirmed... Day 12- To be confirmed... Coinbase Pro Lists Dai, Golem, Maker, and Zilliqa for Select Jurisdictions was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

3 months ago

9th Day of Coinbase Announced Support for Four More Ethereum Tokens

CoinSpeaker 9th Day of Coinbase Announced Support for Four More Ethereum Tokens Following their launches of 0x (ZRX), Basic Attention Token (BAT), and their stablecoin, USD Coin (USDC) across all Coinbase platforms, they also added Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) to Coinbase Pro. The exchange said: “Our decision to add ERC20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint.” In their “12 Days of Coinbase” celebration, they announced support for DAI (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL). Of these, GNT is not technically an ERC20 token, but is an Ethereum-based token. Inbound transfers for DAI, GNT, MKR, and ZIL are now available in the regions where trading is supported. Traders cannot yet place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 Each of these tokens has associated functionality, some of which may be in beta. Moreover, each token’s associated functionality is not currently directly accessible via the Coinbase Pro platform. For example, the Golem GNT token provides access to a distributed computer farm, the Zilliqa network can be used to experiment with high-performance smart contracts, and the MKR and DAI tokens form a paired set of assets in which MKR provides governance, and DAI is a decentralized, collateral-backed stablecoin. In particular, direct access to smart contract functionality will not be immediately available through Coinbase Pro. As a result, users who want to engage in MKR governance, use their GNT tokens to submit rendering tasks to the Golem beta network, utilize functionality like Compound, or exit DAI positions in the event of global settlement will need to move their assets from Coinbase Pro to a local wallet. In Coinbase they said: “Our US Pro platform, operated by Coinbase, Inc., will support trading in DAI and GNT only. International Coinbase affiliates will support trading in MKR and ZIL for clients in select jurisdictions outside of the US. We recognize that there are popular assets that we have not yet added to our platform. Our decision to add ERC20 tokens first arises in part from the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint. However, as noted in our earlier post, we are exploring the addition of many new assets beyond ERC20 tokens on a jurisdiction-by-jurisdiction basis.” In Coinbase they said that they will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading will begin on each respective USDC order book. Support for GNT and DAI will initially be available for Coinbase Pro users in the US (excluding NY), the UK, EU, Canada, Singapore and Australia. MKR and ZIL will not initially be available to customers in the US, but will be tradable to users in the UK, EU, Canada, Singapore, and Australia. Additional jurisdictions may be added at a later date. There will be four stages to the launch as outlined below. Coinbase plans to follow each of these stages independently for each new order book. If at any point one of the new order books does not meet their assessment for a healthy and orderly market, they might keep that particular book in one state for a longer period of time, or suspend trading as per their trading rules. Coinbase is Rapidly Improving Their Platform Arguably the most important announcement for long-time investors, as Coinbase investors have had a limited choice until recently, the inclusion of more tokens follows up on Coinbase’s decision to support ERC-20 tokens. The exchange has gradually added several tokens to the exchange, such as 0x (ZRX) and Basic Attention Token (BAT). Coinbase has been the recipient of a lot of public attention in the second half of 2018. With new features and tokens expected in 2019, it is doing a remarkable job of bringing exposure to cryptocurrency, and altcoins in particular. Most recently, Coinbase announced new features such as instant PayPal withdrawals and feeless crypto-to-crypto conversions. The new additions have raised some concern in the community. Previously, the company has been cautious to add new coins. The rapid addition of these new ERC20tokens could expose the company to additional liability because of potential securities classification. Another controversy is why Coinbase has chosen this particular order for token listings. Whether the process is random, or influenced by other factors is subject to speculation. In Coinbase they said: “One of the most common requests we receive from customers is to be able to trade more assets on our platform. With the recent announcement of our new listing process, we anticipate listing more assets over time that meet our standards.” Nonetheless, the expansio

3 months ago

Coinbase Gets Aggressive With Crypto Listing: Lists MakerDao, Golem, Zilliqa

Amid an extended bear market, Coinbase has surprised Bitcoin maximalists and crypto asset diehards alike, recently listing a series of crypto assets seemingly out of left field. However, many pundits and commentators have deemed that the San Francisco-based company’s shift in strategy is illogical, as it goes against formerly-established principles. Yet, the firm has only doubled-down on its growing penchant for alternative cryptocurrencies, listing a number of Ethereum-based tokens on Tuesday. Coinbase Pro Incessantly Lists More Cryptocurrencies On Tuesday, amid a flurried market rally, Coinbase Pro suddenly revealed that it would be listing DAI and Maker (MKR), the two assets of the Andreessen Horowitz-backed MakerDao project, Golem (GNT), and Zilliqa (ZIL). All the aforementioned assets are situated on the Ethereum Network, with Coinbase’s decision to list these crypto assets likely stemming from the technical ease of implementation. This recent sequence of listings come just weeks after the same platform unveiled support for Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA). DAI, GNT, MKR, and ZIL order books will soon enter transfer-only mode. We will accept inbound transfers in the regions where trading is supported. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 Starting Tuesday, users of Pro will be allowed to deposit DAI, GNT, MKR, and ZIL onto the platform. Pro intends to keep support for these assets in deposit-only for a minimum of 12 hours, ensuring that sufficient liquidity for the crypto assets is established to avoid market debacles. For now, the assets listed on Pro will remain on the professional trading platform, with support on Coinbase’s other platforms likely arriving within the next few weeks. While it seems that the world-renowned platform has added each and every crypto asset in recent months, there remain over 20 crypto assets on the startup’s chopping block. This extensive list, as reported by NewsBTC previously, includes community favorite XRP, prediction platform Augur (REP), and smart contract platform Cardano (ADA). Related Reading: Crypto Community Reacts to New Coinbase Listings: Reception Generally Negative Coinbase Shifts Business Strategy To Be Pro-Crypto Asset Although Coinbase’s intention to list an array of crypto assets seems innocuous enough, many pundits have seen this move as a hint that the startup’s business practices are enduring a radical underlying shift. Speaking to Linda Shin, the showrunner at the highly-acclaimed Unchained podcast, Dan Romero, one of the $8 billion firm’s multiple vice presidents, confirmed these rumors. In the one-hour-long installment of Unchained, Romero explained that his firm’s clientele has begun to clamor for crypto asset support, presumably catalyzing the recent listings. Romero, who has headed Coinbase’s pro-crypto asset movement, noted that in a bid to keep customers safe within Coinbase’s gated community, so to speak, his firm has embarked on a mission to support as many assets as legally viable. And, as seen by Tuesday’s announcement, Coinbase’s alteration in its fundamental game plan has already manifested. Yet, the upstart’s thirst for innovation hasn’t only culminated in assets supported, but with its already-expansive, yet rapidly-growing product roster as well. Just a day prior to Tuesday’s listing debacle, Coinbase revealed that its consumer-centric platform would be offering in-house crypto-to-crypto trading support. This addition, which was the focus of the fintech giant’s 8th “12 Days of Coinbase” announcement, has been dubbed “Convert.” As its name implies, Convert will allow users of Coinbase’s iOS or Android apps and Coinbase.com to instantaneously one cryptocurrency to another at a “lower than if done via two separate transactions.” The long-standing cryptocurrency exchange will be charging a 1% spread per “Digital Asset Conversion” request, but the actual fee incurred may vary, due to “market fluctuations.” While Coinbase’s newfound enamorment for crypto assests could be classified as an overt power play, the firm’s cardinal mission is, of course, to create an open financial system for the world. Its recent offerings are likely only a byproduct of its ambitions to accomplish this arduous mission. Still, an extremely long road lies ahead of Coinbase, along with its fellow platforms all across the road, as cryptocurrencies are still in their earliest phases. Travis Kling, the investment head at the recently-launched crypto hedge fund Ikigai, stated that although Bitcoin’s blockchain has been up-and-running for a decade, a majority of its history was just getting its wings off the ground. By the same token, the former institutional investor explained that most of the publicity and development that has fallen on cryptocurrencies, came within the last 18 to 24 mont

3 months ago

Chatter Report: Schiff Accuses Kelly of Pump and Dump, Lingham Calls for ‘Real Adoption’

In our latest roundup of crypto chatter, tensions run high as Peter Schiff accuses Brian Kelly of dumping bitcoin on retail investors. The accusation surfaced after Kelly recently revealed that he is net short on BTC. Also, Vinny Lingham gives great advice to the crypto community on building for the future. Also read: Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged CNBC Regular Accused of P&D Longtime gold proponent and bitcoin skeptic Peter Schiff has accused Brian Kelly Capital Management founder Brian Kelly of using his position as a CNBC regular to “pump and dump” bitcoin. In a recent video released by CNBC, Kelly casually mentions that he is net short on bitcoin. Under normal circumstances, Kelly shorting bitcoin would not raise eyebrows in this bear market. However, Kelly’s recent comments seem to be entirely incongruent with almost every other clip of him on CNBC. A Trip Down Memory Lane Just watch this video of Kelly released by CNBC last August, where he heavily shills bitcoin. While referencing a BTC price that was around $7,400, Kelly boldly proclaims, “If you’re looking for an entry point in bitcoin this might just be the place”. There is a huge disconnect between Kelly recommending the “completely under-appreciated” cryptocurrency markets in August and the same man sheepishly mentioning that we are “getting closer to the bottom” in the recent CNBC video. Even more disturbing are the implications of Kelly’s actions, as he may have been shorting and dumping cryptocurrency bags on retail investors who listened to him on CNBC, which would be a massive conflict of interest. Alternatively, Kelly could have only recently taken short positions some time after he was shilling cryptocurrencies throughout most of 2018. That would imply that Kelly is unqualified to talk about cryptocurrency price movements, however, as he has been completely wrong on his predictions thus far. Vinny Lingham on Building for the Future In other news, Civic CEO Vinny Lingham has been tweeting advice for the cryptocurrency community to build for the future. There is a large skill/knowledge gap between observers/speculators/traders and builders. Those who are building need to keep their heads down and continue to execute. Traders will trade & the market will judge the best projects in the long term, so ignore the short term sentiment — Vinny Lingham (@VinnyLingham) December 18, 2018 Lingham explains that traders and speculators feed off volatility and do not care about creating value in the cryptocurrency ecosystem. He describes this profit-seeking behavior with no value creation as a skill gap for traders. Traders will trade and influence prices in the short term, but in the long run, the market will reveal the value of good cryptocurrency projects. Quoting Jeff Bezos, Lingham explains that builders are “misunderstood for long periods of time.” Their hard work doesn’t seem to be reflected in the prices of the cryptocurrency projects that they are a part of. However, by keeping their heads down and focusing on real world adoption, builders will see the value of their work reflected in future prices. What do you think of Schiff accusing Kelly of dumping on investors? What about Lingham’s advice for building? Let us know in the comments below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Chatter Report: Schiff Accuses Kelly of Pump and Dump, Lingham Calls for ‘Real Adoption’ appeared first on Bitcoin News.

3 months ago

Breaking: Coinbase Lists Dai, Maker (MKR), Golem (GNT), and Zilliqa (ZIL)

On Tuesday afternoon, Coinbase Pro, the professional trading platform of the similarly named startup, divulged that it would be listing four prominent altcoins as its 9th daily announcement for its “12 Days Of Coinbase” initiative. As revealed in a blog post pertaining to this news, the platform will be listing DAI and Maker (MKR), the two primary digital assets that pertain to the MakerDao project, Golem (GNT), widely dubbed one of Ethereum’s most promising products, and Zilliqa (ZIL), a startup aiming to initiate the blockchain 3.0 revolution. DAI, GNT, MKR, and ZIL order books will soon enter transfer-only mode. We will accept inbound transfers in the regions where trading is supported. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 These four cryptocurrencies are all Ethereum-based tokens, which lines up with the startup’s recent listings of Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA). Starting today, Pro will begin to accept “inbound transfers” for the projects mentioned in this article’s first paragraph, before opening order books once sufficient liquidity and demand is established. Support for GNT and DAI will be initially available for Coinbase’s clientele in the U.S. (except NY State), the U.K., E.U., Canada, Singapore, and Australia. MKR and ZIL will also be offered for consumers situated in the listed countries as well, except for the U.S., presumably due to regulatory constraints. It is important to note that this feature isn’t available on Coinbase.com (Consumer) just yet, but this is likely to change over the next few weeks. Ethereum World News will update you as time goes on. Make sure you keep in checking in. Title Image Courtesy of Marco Verch Via Flickr The post Breaking: Coinbase Lists Dai, Maker (MKR), Golem (GNT), and Zilliqa (ZIL) appeared first on Ethereum World News.

3 months ago

Civic CEO Vinny Lingham Criticized After The Company Partners With Controversial Dentacoin

Civic CEO Vinny Lingham has been a subject of controversy after announcing a partnership with Dentacoin. Lingham raised $33 million in an ICO for Civic last year and has remained silent after that. Dentacoin will now use Civic’s services to authenticate candidates for its dental health training. However, Dentacoin itself has been questioned over its legitimacy. Civic has been accused of new partnerships with a series of failing companies. In August, Civic partnered with Paragon, another startup that raised millions of dollars and had very little progress. Civic (CVC) is priced at $0.051167, gaining 4.90% in the last 24 hours. (VS)

3 months ago

‘Stop Calling Him Oracle’: Paragon, Dentacoin and BCH Haunt Vinny Lingham

Civic CEO Vinny Lingham is the subject of no confidence calls this week after his startup partnered with controversial blockchain entity Dentacoin. Dentacoin Goes For Damage Control Lingham, who raised $33 million for Civic in an ICO last year, had remained largely quiet regarding use of the funds, the ongoing cryptocurrency bear market taking a heavy toll on its CVC token 00 which currently trades at record lows. Netherlands-based Dentacoin, which itself has gained a dubious reputation over the legitimacy of its operations, will now use Civic’s services to authenticate candidates for its dental health training. News of the partnership immediately saw mixed reviews, CVC investors having eagerly awaited news of a turnaround move which would increase their fortunes. On Twitter, users drew parallels between Dentacoin and Civic’s earlier deal with Cannabis startup Paragon in August. Paragon, which likewise raised a significant amount via an ICO, had made little progress beyond token gestures such as opening coworking spaces, Bitcoinist reported. Last month, the US Securities and Exchange Commission (SEC) succeeded in ordering Paragon to repay millions of dollars in contributions and fines over failure to comply with securities laws. Dentacoin was forced to respond to the barrage of criticism. “This is another great step forward towards creating a seamless UX and authentication across all our tools. Leave your username and password in the past, for CivicConnect and Dentacoin are here to take you to the future,” an official wrote. We are proud to be the pioneering project for CivicConnect. This is another great step forward towards creating a seamless UX and authentication across all our tools. Leave your username and password in the past, for CivicConnect and Dentacoin are here to take you to the future. — Dentacoin (@dentacoin) October 22, 2018 Delphic Oracles Paragon and Dentacoin are just the latest PR battles in what has been a troubled year for Lingham. In January, the entrepreneur publicly said altcoin Bitcoin Cash (BCH) was “undervalued” as altcoin markets reached all-time highs. “When I look at it from a product standpoint, I think the greater demand is for peer-to-peer cash than digital gold,” he told CNBC, referring to Bitcoin Cash over Bitcoin, respectively. CNBC had referred to Lingham with the nickname ‘Bitcoin Oracle.’ In the ensuing eleven months, BCH 00 has split into two chains and lost the vast majority of its value, one chain like CVC trading at the lowest levels in its history. Unsurprisingly, the interview has come back to haunt Lingham, one user appealing to CNBC on Twitter following the Dentacoin announcement: “Please stop calling Vinny the Bitcoin Oracle.” What do you think about Vinny Lingham’s forecasts and Civic partnerships? Let us know in the comments below! Images courtesy of Shutterstock The post ‘Stop Calling Him Oracle’: Paragon, Dentacoin and BCH Haunt Vinny Lingham appeared first on Bitcoinist.com.

3 months ago

Europe: Crypto and Blockchain News Roundup 7-13 December 2018

Europe Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country. United Kingdom MP Calls for Council Tax Payments Using Bitcoin: UK Member Parliament (MP) Eddie Hughes, a pro-crypto voice in the parliament has called for paying of council taxes using Bitcoin and Ethereum. The move may have rattled some feathers of his other colleagues, most of whom have a very conservative attitude towards cryptocurrencies. Council taxes are charged for residents in the UK where it is used to fund local services in their localities. The tax is the second largest source of income for the government after income tax. Hughes said: “Only recently I met with the RNLI [Royal National Lifeboat Institution] which is now accepting charitable donations through cryptocurrency - if we can do that, what’s to stop us from being able to pay council tax and other bills with Bitcoin?” While regular crypto users may not immediately get to pay their council tax using Bitcoin, the statement will definitely put crypto back in the spotlight in the politics which is overdosed with Brexit these days. France Yellow Vest Protestors Go Crypto: The protesting yellow vests have now planned to introduce their own cryptocurrency called GiletJaunCoin. The movement has been in the spotlight in recent times as it spearheaded some of the biggest protests the country has seen in decades that amounted to a serious loss to public and private property. While Gilet Jaunes themselves are not actually a political party, they are united in demanding more libertarian views including lowering taxes and calling for political reforms. But, due to lack of real focal persons, it is yet to be seen how the new coin will prevail in the market. As of now, it has achieved a block height of 40,000 and the total amount of hash rate is 2.4 Gh/s. President Macron’s Reforms Result in Improving Blockchain Investment and Innovation: While the President of France Emmanuel Macron is under pressure these days from protesting groups led by Gillet Jaunes, his reforms have increased participation and expanded the blockchain industry in the country. IBM alone with its blockchain investments is expected to bring as much as 1500 jobs to the market. Other measures like reducing the taxation of cryptocurrency gains taxes are also ensuring a steady stream of cryptocurrency related investment in the country. Netherlands Limburg Province Launches Crypto Community: Dutch southern province Limburg has partnered with blockchain company Belfius to create a cryptocurrency community in the area. The founders of this move believe that the move will encourage sustainability, community support, and police reforms. It will also help create useful supply chains in the 10 counties of the province. While there is no fiat backup for the new cryptocurrency, it can easily be transferred from users’ wallets and can be used to provide a range of civic and other responsible activities. In other news, the Dutch Central Bank is now taking a closer look at cryptocurrency exchanges operating in the country. The De Nederlandsche Bank (DNB) is now reportedly trying to come up with new regulations for this space. Russia No Major Changes to Crypto Bill: The deputy prime minister of Russia Maxim Akimov has said that the recent cryptocurrency regulation bill put forward by the regulators has seen little changes in the content when it was sent to the government for approval. The three separate bills “On digital financial assets”, “On crowdfunding” and “On digital rights” will eventually be included in the National Program of Digital Economy. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy:BitcoinNews.com The post Europe: Crypto and Blockchain News Roundup 7-13 December 2018 appeared first on BitcoinNews.com.

3 months ago

Daily Crypto Roundup 12/14/2018

Today in the crypto space we saw Basis shut down its stablecoin operation, as U.S. government officials warned against bomb threats that demanded bitcoin, and the Civic team gained a former Apple powerhouse. Binance also added another stablecoin, and Tom Lee explained bitcoin’s true price value. Here are the details: Basis Stablecoin Project Will Shut Down And Return All Funds The Basis stablecoin project recently announced closure due to regulatory difficulties. Basis reportedly had a great team and vision. However, their stablecoin system included two other tokens, “bond tokens” and “share tokens”. These other two tokens might have been the cause for concern in the situation. In order to retain price stability, Basecoins needed to be switched out with the projects other two tokens, depending on market conditions. Read on Crypto Insider US Government Issues Advice Over Bitcoin Bomb Threat Emails The National Cybersecurity and Communications Integration Center (NCCIC) recently warned the public of recent bomb threat emails. Emails included individuals threatening to bomb organizations, demanding bitcoin as payment to avoid such violence. According to the NCCIC announcement, “[i]f you receive a bomb threat email, NCCIC recommends the following actions: Do not respond or try to contact the sender. Do not pay the ransom. Report the email to the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center or to a local FBI Field Office.” Read on CoinDesk Blockchain Startup Civic Appoints Apple Veteran As Executive Director Of Identity.com Civic, a popular blockchain project in the self-sovereign identity space, brought Phillip Shoemaker on board as Identity.com’s new executive director. (Identity.com is the ecosystem for the Civic project.) Shoemaker is the former senior director for Apple’s App Store Review operation. He grew his team from a handful of employees to a team of more than 300 during his seven years there. Civic’s Co-founder and CTO Jonathan Smith said in yesterday’s press release that the “caliber of [Phillip’s] experience immediately set him apart as a dynamic leader.” Read on CoinTelegraph Top Crypto Exchange Binance Adds Circle’s USDC To Its Combined Stablecoin Market Binance recently added USD Coin (USDC) to the mix as yet another stablecoin option on their platform. USDC will be available on Binance’s USDⓈ Stablecoin Market. Last month, Binance “rebranded its Tether (USDT) Market as the combined USDⓈ market to allow for the support of more trading pairs with different stablecoins offered as a base pair,” CoinTelegraph explained in today’s report. Read on CoinTelegraph Unabashed Bitcoin Bull Thomas Lee Says The Market Is Wrong Fudstrat’s Tom Lee, known for his $25,000 end-of-year bitcoin price prediction earlier this year, recently made further comments on bitcoin’s value. According to a Bloomberg report yesterday, Lee stated bitcoin was vastly undervalued at less than $3,400. He said the asset should be worth about $14,800. Lee mentioned the number of active wallet addresses, account usage, and supply aspects, to explain why bitcoin should be valued in the price range of $13,800 to $14,800. Read on Bloomberg The post Daily Crypto Roundup 12/14/2018 appeared first on Crypto Insider.

3 months ago

Civic hires former Apple executive to grow its identity verification platform

Civic, the decentralized identity startup, announced that it hired Apple veteran Phillip Shoemaker as executive director of Identity.com. Civic acquired Identity.com in July of this year to build out its decentralized identity verification ecosystem. Shoemaker will oversee the development and growth of the decentralized identity ecosystem, according to Civic. At Apple, Shoemaker worked as a senior director for App Store Review division, growing his team from 4 to over 300 employees. “Phillip’s knowledge of blockchain and expertise building internal infrastructure will guide Identity.com through a key time of deployment and growth. We’re happy to see him take on the task of building and leading the Identity.com team,” said Jonathan Smith, Civic Co-founder and CTO. The post Civic hires former Apple executive to grow its identity verification platform appeared first on The Block.

3 months ago

Dutch Central Bank Takes Closer Look at Exchanges

The Dutch Central Bank, De Nederlandsche Bank (DNB) has announced its plans to impose regulations on cryptocurrency exchanges in the country in order to counter money laundering and fundraising for terrorist activities. In future, registering exchanges will need to ensure that any “unusual transactions” are reported and that exchanges’ KYC rules are tightened. The new legislation was not completely unexpected by the Dutch cryptocurrency community. The central bank has long been unreceptive to the idea of digital currency, maintaining back in November of 2017 that Bitcoin had no real worth. According to DNB regional director Petra Hielksma at that time, “If something wants to be treated as money, you have to be able to spend, save and calculate with it.” The Netherlands has been quick to find numerous worthy use cases for DLT, particularly in projects that support local communities, health, and civic pride. The larger community has been mainly positive towards cryptocurrencies too, despite the country’s Finance Minister Wopke Hoekstra proposing a ban on cryptocurrency advertising and trying to douse enthusiasm. Arnhem, near the German border, has become the country’s crypto haven, where Bitcoin can be used to buy anything from bread to beer using Bitcoin and other major currencies. Despite the DNB’s concerns about cryptocurrency, approximately 60% of the households in the Netherlands have some cryptocurrency investment. However, the DNB points to the more than USD 88 million reportedly laundered over 46 cryptocurrency exchanges around the globe during the past two years, as enough evidence that the government needs to take firmer measures with exchanges with regard to money laundering and other illegal activities. In terms of expressing a social conscience though, the nation continues to demonstrate its progressive uses for blockchain by forming partnerships with the World Bank, the UN, and the EU Forum. Earlier this year, the Dutch government announced that the Ministry of Economic Affairs and Climate Policy had created a special unit devoted to researching the ways in which blockchain technology could be harnessed to provide reliability in the area of tech development while being energy sustainable. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Dutch Central Bank Takes Closer Look at Exchanges appeared first on BitcoinNews.com.

3 months ago

Vinny Lingham's Civic Appoints New Executive Director For Identity.com

Blockchain startup Civic, run by Vinny Lingham has appointed Phillip Shoemaker as executive director of Identity.com. Identity.com is Civic’s open-source, Ethereum-based decentralized identity platform. Shoemaker is an Apple veteran who served as senior director of the Apple App Store Review team for seven years. He built it from the ground up, taking his team from 4 to over 400 employees. The appointment comes at a key time as Identity.com is looking to add external organizations to its ecosystem. (VS)

3 months ago

AirdropAlert Giveaway

AirdropAlert Giveaway Airdrop is worth 1000 SNTR and 200 SNTR for every referral! AirdropAlert rewards everyone who created a Airdropalert dashboard account and completed the CIVIC KYC. If you already completed these steps, you will automatically be eligible to receive 1000 SNTR tokens! Make sure to add your ETH address to your profile. If you want to earn more tokens, complete the airdrop form to receive your unique referral link and earn 200 SNTR for every referral! Would you like to receive the latest free Airdrop Alerts? Join our Airdropalert Telegram. How to join AirdropAlert Giveaway? Create an acoount on AirdropAlert dashboard and add your ETH address to your profile. Complete the CIVIC KYC. Submit your details on Airdropalert Giveaway airdrop form. Airdrop reward is 1000 SNTR and it will be distributed in January 2019. You will receive a confirmation email with your unique referral link. Refer friends to earn 200 SNTR for every referral. For questions about the AirdropAlert Giveaway, please check our FAQ. If you use the ''CLAIM AIRDROP'' button below to claim the AirdropAlert Giveaway airdrop, it will automatically show on the main page with a purple check mark. So you can easily track which airdrops you joined and which ones you need to join. If you liked AirdropAlert Giveaway airdrop, also check out MenaPay Exclusive Airdrop, BitSafe Exclusive Airdrop and Betking Exclusive Airdrop.

3 months ago

CyberVein and Zhejiang University will build a blockchain re...

CyberVein and Zhejiang University will build a blockchain research and development system jointly #Blockchain #CVT… https://t.co/YVaWNPzvMD

3 months ago

VanEck’s Director Says Regulators Have Their Priorities Backward as the SEC Continues to Postpone Bitcoin’s ETF

VanEck director Gabor Gurbacs is enraged by the SEC’s decision last week to extend the review period for the VanEck/SolidX Bitcoin ETF to February 27. On top of this disappointment, Coinbase announced that that it had listed four small-cap ERC20 tokens including CVC, DNT, LOOM, and MANA on its platform. To this end, Gabor took to Twitter to call out the SEC’s double standards regarding assessing the risk between retail and institutional investors. According to Gabor, the SEC is not playing fair by allowing Coinbase to list s**tcoins while postponing the approval of their Bitcoin ETF. (KE)

3 months ago

Coinbase Pro Announces the Listing of ERC20 Tokens of Civic (CVC), LOOM, DNT, and Decentraland (MANA)

Coinbase Pro, the Pro version of crypto exchange Coinbase, has announced to the cryptocurrency community that it is listing the ERC20 tokens of Civic (CVC), Loom Network (LOOM), Decentraland (MANA), and district0x (DNT), a report said. The announcement comes just a few hours after Coinbase revealed that it was exploring adding 31 new virtual currencies. As per the report, Coinbase Pro is already accepting inbound transfers of MANA, LOOM, DNT, and CVC. (VK

3 months ago


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