Metal MTL

Market Cap $ 6.858 MM (#263)
24h Volume $ 256.211 K
Chg. 24h: -4.87%
Algo. score 3.3/5  (#371)
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Metal News

Metal Pay Is Giving Out Free Crypto All Day

The prospect of getting something for nothing is a powerful motivator. The American actress, Sandra Bullock, once (in)famously said that she would do “anything for free stuff” though whether this statement has been tested in the wild is unclear. Now the cryptocurrency equivalent of PayPal believes it can encourage greater adoption by offering tokens as gifts for new users - and they’re not talking bullocks. Metal Pay (MTL), a peer-to-peer payments application, is giving 200 MTL tokens - worth approximately $50 - to people who sign up to the service. The offer, which ends at midnight tonight PST and is available to US citizens in 34 states, comes as the app receives its 200th review on the IOS app store. At first we wrote this off as another crypto scam, but Metal Pay’s PR agency reassures us that this is the real deal, and you don’t even need to send ETH first. “From now through Dec. 14, we’re giving everyone who signs up for Metal Pay a bonus of 200 MTL”, the company said in an official blog post. MTL tokens Established in 2015, Metal Pay allows users to send payments - crypto or fiat - to one another using phone numbers. Currently available only to residents of (part of) the United States, it incentivizes people to act responsibly by rewarding eligible payments with MTL tokens. Speaking to Crypto Briefing in early October, Metal Pay founder, Marshall Hayner, explained that 40% of the total MTL supply had been allocated to be distributed as rewards. Through rewards, and by placing digital currencies in the hands of prospective users, Metal Pay hopes it can maintain an element of decentralization in the sector. Promotional giveaways are not new in cryptocurrency. Earlier this year some projects encouraged greater adoption through the use of airdrops. Certain holders would often be eligible for free tokens, which would be sent straight to their wallet addresses. Although an effective marketing strategy, the practice raised some concerns in the States over how the tokens would be taxed by the IRS. The Metal Pay promotion is a way to get people using the feature. At a time when some are going out of business, it’s a matter of survival. Joe Lubin told staff two weeks ago that ConsenSys would have to scale down its financial support, putting some of the less-profitable ‘spoke’ projects in the crosshairs. A good offer indeed, but if today’s market is anything to go by, those 200 MTL tokens may sell for a lot less than the $50 advertised. They were worth around $43, by press time. Disclaimer: The author is not invested in any cryptocurrency or token mentioned in this article, but holds investments in other digital assets. The post Metal Pay Is Giving Out Free Crypto All Day appeared first on Crypto Briefing.

17 hours ago

For the past week, we've been giving 200 MTL (~$50) to every...

For the past week, we've been giving 200 MTL (~$50) to everyone who signs up for Metal Pay, in celebration of 200…

18 hours ago

Yes, it's true. The next version of Metal Pay will feature ...

Yes, it's true. The next version of Metal Pay will feature the ability to buy/sell cryptos other than MTL. Direct…

2 days ago

📢 A new version of Metal Pay is here! 🤘 Included in V1.4.0:...

📢 A new version of Metal Pay is here! 🤘 Included in V1.4.0: Bank account linking with micro deposits 😎 Details on…

3 days ago

The #BlockCard leaderboard shows just a few of the lucky peo...

The #BlockCard leaderboard shows just a few of the lucky people that will be the first 100 to receive a metal card.…

3 days ago

@belgab2 Sorry, but this promotion is only open to U.S. resi...

@belgab2 Sorry, but this promotion is only open to U.S. residents in states and territories where Metal Pay is avai…

4 days ago

🎊 In celebration of reaching 200 reviews on the iOS App Stor...

🎊 In celebration of reaching 200 reviews on the iOS App Store, we're giving 200 MTL to everyone who signs up for Me…

7 days ago

Pop (v) - to earn a #cryptocurrency reward for making a tran...

Pop (v) - to earn a #cryptocurrency reward for making a transaction on Metal Pay. See: cc…

9 days ago

Welcome to all the new Metal Pay users that have signed up t...

Welcome to all the new Metal Pay users that have signed up through our referral program! Now it's time for you to s…

10 days ago

VeADIR native UI precious metal token redemption now publicl...

VeADIR native UI precious metal token redemption now publicly available. Now you can easily redeem your gold, silv…

11 days ago

Paris Protests See Support for Bitcoin Against Unchecked Money Printing

What do the ongoing Paris protests have to do with Bitcoin? Everything because the root cause is not tax hikes, but unchecked money printing that erodes citizens’ savings and purchasing power. (Fiat) Money is the Root of All Evil Paris is on fire, experiencing the worst riots since the 1960s. Video footage of yellow vest wearing crowds shows street brawls and police being pelted with rocks as shops, cars, and city infrastructure is set ablaze. The protests were reportedly sparked by a broad government tax hike on goods and services. France’s middle class is facing the brunt of rising prices on basic necessities such as fuel and transportation. Oh Socialism...France since MacronEmployees tax: +21%Gas: +36%Agri Fuel : +12%Bank fees: +12%Gas : +7%Car registration tax: +15%Insurance:+3%Hospital tax: +15%Health insurance: +15%Postal stamps: +5%Bus: +3%Road Fines (parking, etc): +130%MOT: +23% — Hartej Sawhney (@hartej_) December 3, 2018 The French government is known for its exorbitant taxes as President Emmanuel Macron’s government struggles to cover the cost of its social programs and other expenses. It has also introduced a tax on Bitcoin and currently considering a flat 30% tax on all cryptocurrency capital gains. Meanwhile, the purchasing power of the Euro (and every other fiat currency in the world) has decreased substantially over time as more fiat money is printed out of thin air and put into circulation devaluing the currency. Politician Charles Gustav Binderup paraphrasing Henry Ford said: It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. The US dollar, for example, has lost well over 95% of its purchasing power since 1913. In other words, the dollar has been losing 3.13% of its value on average per year since the Federal Reserve System was established. The value of the dollar against Bitcoin looks strikingly similar over the past decade. Therefore, the austerity imposed by the government appears to be nearing a tipping point as French citizens are realizing that their quality of life will only get worse with their money designed to lose value over time. The same goes for the government who must always print more money in order to cover its bloating budget. Simply put, it’s not that the cost of living is going up, but that the value of the Euro and all fiat money is always going down. For all intents and purposes, fiat money is a de facto (hidden) tax on the population that erodes savings and purchasing power. BTCChina co-founder Bobby Lee echoed this fact, linking the Paris protests to ‘unchecked money printing’ by governments. Massive protests in #Paris about higher living costs. Hmm, I wonder what’s causing higher costs & lower living standards? Maybe it’s b/c of unchecked #MoneyPrinting by gov’ts? There could be more #unrest coming worldwide. Abusing #fiat has consequences! — Bobby Lee (@bobbyclee) December 2, 2018 Paris Protests See Support for Bitcoin The amount of bitcoin that will ever exist is capped at 21 million. This not only makes it sound money but also a politically-neutral money. Its purchasing power i.e. BTC price 00 is solely determined by markets and is independent of government policies. Gold is one of the best examples of sound money whose intrinsic value was always determined by the free market rather than by a central government. Hence it’s no surprise that the precious metal has historically been a store of value and a safe haven (from government exuberance). Meanwhile, a few photos have surfaced of protestors in Paris showing yellow vests with the words ‘Buy Bitcoin.’ This proves that some people are starting to realize that Bitcoin was created to be an exit from the flawed fiat monetary system. The more people realize that the current financial system is a rigged game that benefits the money-printers at the expense of the citizens, the more likely the hyperbitcoinization scenario becomes. France, in particular, could become a hotbed for Bitcoin adoption in the near future. Bitcoinist recently reported that thousands of French tobacco shops across the country known as ‘Tabacs’ are expected to sell bitcoin starting next month. Can Bitcoin provide an exit from the flawed fiat monetary system? Share your thoughts below! Images courtesy of Shutterstock, Twitter, Bitcoinist archives The post Paris Protests See Support for Bitcoin Against Unchecked Money Printing appeared first on

11 days ago

KuCoin Blockchain Asset Exchange Lists Gram Gold Coin Collaboration’s GGC Token

KuCoin blockchain asset is proudly announcing the listing of Gram Gold Coin Collaboration’s GGC today. Deposits are now available with trading pairs including GGC/BTC and GGC/USDT. All transactions are accessed utilizing KuCoin’s official website or to their mobile app for iOS and Android. Schedules are as follows: GGC Buying order: 15:30 November 30, 2018 (UTC+8) GGC Selling order: 16:00 November 30, 2018 (UTC+8) GGC Withdrawal: 18:00 November 30, 2018 (UTC+8) About Gram Gold Coin Collaboration (GGC) Gram Gold Coin Collaboration maintains and distributes the GGC through the application of gold bullion with the blockchain as a transaction platform. GGCC intends to integrate product design, interest alignment, and market dynamics to develop GGC’s acknowledgment by all market members as a base digital token for financing, payment, trade, and value preservation that most fiat money and crypto assets cannot produce due to the constraints they face. What is GGC? A GGC is backed by 1 gram of Gold as the value and is transacted within the blockchain so that the gold price maintains its smallest value and secondary transactions can be sent out with a high level of efficiency, confidentiality, and safety. GGCC will distinctly issue different token called GramGold Eco (“GGE”). GramGold Eco will be taken by members of the founder team, advisors and exchanges, who help to continue to retain the overall GramGold Ecosystem (the “Ecosystem”) of GGC and GGE alive. Why do you need GGC? The following diagram illustrates how GGC can seamlessly meet various needs in different worlds through its unique characteristics inherited from Precious Metal, Currency, Crypto, and Blockchain. Defense of Inflation GGC uses the “gold standard”, meaning that each GGC is minted only when the correct corresponding amount of gold bullion is held in reserve. The scarcity of physical gold will effectively limit devaluation as compared to the devaluation issues that fiat money faces currently. Ultimate Haven Although gold is no longer the foundation of the international monetary system, its status as a bastion of stability has endured, a role which has become increasingly important in today’s unpredictable environment. Over the years, gold’s reputation for safety and durability has made it a mainstay for investors seeking to safeguard the long-term value of their capital. Portfolio Diversification Harry Markovitz is well known for his “Modern Portfolio Theory,” which is the formula that says that systematic risk cannot be varied away as it is a risk for the entire market. Still, purchasing gold as a hedge against crises can be viewed as a hedge against this type of threat. During extreme conditions, gold tends to soar while other assets make a downturn. Images courtesy of KuCoin The post KuCoin Blockchain Asset Exchange Lists Gram Gold Coin Collaboration’s GGC Token appeared first on Live Bitcoin News.

11 days ago

Pitching in $$ to get a big gift for someone this holiday se...

Pitching in $$ to get a big gift for someone this holiday season? Use Metal Pay and earn up to 5% cash back on each…

12 days ago

Crypto Week In Review: Bitcoin ETF Talk Mounts, Nasdaq To Launch “Crypto 2.0” Futures

The crypto market at large sustained its turbulent price action this week, with Bitcoin (BTC) jolting up and down between key levels of resistance and support. However, in spite of the dreary price action, this industry’s participants kept their pedal to the metal, announcing a series of developments that piqued the interest of investors worldwide. So, as recently put by Anthony “Pomp” Pompliano, Morgan Creek’s in-house cryptocurrency insider: “Bear markets get rid of tourists so entrepreneurs can focus on building.” SEC’s Clayton Isn’t Ready To Green Light A Crypto ETF Since Bitcoin faltered in early-2018, investors in this nascent asset class have sought to find a light at the end of the tunnel. This light, as it turns out, is a U.S.-based, fully-regulated Bitcoin exchange-traded fund (ETF). But, as recently divulged by a commissioner from the U.S. Securities and Exchange Commission (SEC), the advent of a crypto-backed ETF might be nothing more than a quixotic dream, or at least for now. Speaking at Consensus: Invest on Tuesday, SEC incumbent Jay Clayton, who assumed office in May 2017, exclaimed that he isn’t ready to greenlight a Bitcoin ETF. Backing his somewhat inflammatory statement with rationale, Clayton brought up the lack of market surveillance in crypto markets. Blockchains may be predicated on a semblance of transparency, but in juxtaposition to this nature, the SEC decision-maker noted that there’s an evident lack of bonafide surveillance implementations on crypto platforms at large. Clayton then explained that investors expect that a commodity-backed fund is free from manipulation, alluding to his sentiment that Bitcoin is susceptible to questionable fluctuations on a group’s whim, or through actions executed by bad actors. Along with his fears regarding proper surveillance measures, the lawyer by trade also noted that while strides have been taken towards impenetrable custody solutions, these services purportedly remain vulnerable to unauthorized access. VanEck, SolidX’s Bitcoin ETF Team Meet With SEC Despite Clayton’s concerns regarding crypto-backed ETFs, the SEC recently released a memorandum that outlined a paramount closed-door meeting attended by representatives from VanEck, SolidX, and CBOE, the three firms behind the foremost Bitcoin ETF application. This recent event, which is the second of its kind, saw VanEck outline its proposed vehicle through a 62-part slide deck, breaking down the ETF to its core. Aiming to calm the SEC’s qualms with the cryptocurrency market, including fears that it’s rife low-liquidity, the ETF hopefuls touted the fact that the value of Bitcoin is “tightly linked” on spot and futures markets, apparently evidence that cryptocurrency is a “well-functioning capital market.” VanEck representatives went on to draw attention to the “resilience of Bitcoin markets,” claiming that the fixed supply, distributed, and secure nature of Bitcoin would disallow manipulation. VanEck went on to laud CBOE’s trading system, which the ETF would be based upon, for its speed, security, and ability to stay compliant with financial law, something that the SEC is likely seeking. No comments from the SEC were issued on VanEck’s slide deck, but many investors are hopeful that the attendees of the forum were pleased with what was presented. Nasdaq, VanEck To Launch “Crypto 2.0” Futures, Aims For Q1 2019 Launch On Tuesday morning, the crypto industry at large was rattled, as insiders reportedly claimed that Nasdaq had plans to launch a Bitcoin futures contract. Although the rumor was somewhat cast aside, with some skeptics calling the news “baseless,” at Consensus: Invest, VanEck digital asset strategist Gabor Gurbacs did his best to clear the air. On-stage, in front of a crowd of hundreds, Gurbacs officially revealed that VanEck was, in fact, partnering with New York-based Nasdaq to “bring a regulated crypto 2.0 futures-type contract” to market. However, like the Bloomberg report that originally broke the news, Gurbacs seemingly didn’t follow up the comment regarding the proposed product’s exact details. So due to the apparent secrecy, many quickly resorted to speculation, with some questioning if Nasdaq’s instrument would make use of ‘physical’ Bitcoin in custody, unlike CBOE and CME’s futures, but like Bakkt’s vehicle slated to launch in late-January. Then again, it isn’t clear if Nasdaq has plans to implement such a complicated feature, but seeing that the exchange is relatively blockchain- and crypto-friendly, physical backing isn’t out of the realm of possibility. Bloomberg noted that Nasdaq is planning to launch the proposed instrument in Q1 2019, which lines up with the planned release of Bakkt, Fidelity Digital Asset Services, and ErisX. It is important to note that the launch day is dependent on a green light from the U.S. Commodities Futures Trading Commission. DJ Khaled, Floyd Mayweather Fined By SEC In ICO Case On Thursday morning, after a cloud of legal action loome

13 days ago

Sirin Labs’ Blockchain Smartphone ‘Finney’ Now Available for Pre-Order

CoinSpeaker Sirin Labs’ Blockchain Smartphone ‘Finney’ Now Available for Pre-Order Sirin Labs, an Israel-based company working in the sphere of secure open source consumer electronics, has been a subject of hot discussions due to its ambitious plans to make the smartphone market reel. In July of this year, the company announced its plans to launch a $1,000 blockchain phone with a view to satisfy all the demands of the crypto market and maintain the incredible level of security for the reasonable price. As the launch date set for November was coming nearer, the token issued by Sirin Labs surged nearly 40%. A long-awaited blockchain smartphone is finally available. The FINNEY phone came out today at a launch event in Barcelona. We're LIVE!!! — SIRIN LABS (Not giving away ETH) (@SIRINLABS) November 29, 2018 FINNEY is the ‘world’s first’ premier, ultra-secure blockchain smartphone that runs SIRIN OS, an infrastructure platform for secure mobile transactions to enable blockchain functionality within a mobile environment. The platform is designed to overcome the innate security challenges associated with the usage and storage of cryptocurrency on mobile devices Priced at $999, the blockchain smartphone is fitted with Safe Screen, a slide-up mini display at the top of the phone, which activates the cold wallet. Such a feature allows to verify transactions, confirm the recipient’s address and the currency type, all onboard the device. According to the press release, shipping of FINNEY is expected to start in late December, however, the phone can be pre-ordered now for holders of the Sirin (SRN) token. Later, Sirin Labs website will offer additional channels of payments, including credit card. Starting from January, FINNEY will also be available to purchase on Amazon Launchpad. “Pre-sale is now open for SRN token holders on SIRIN LABS website for those who want to have their FINNEY shipped first. Later on SIRIN LABS website will offer additional channels of payments, including credit card. FINNEY will also be available to purchase on Amazon Launchpad from January.” Furthermore, two flagship concept stores will be opened by the company. The first store will be opened in London in December of this year and will function as a blockchain academy for Sirin Labs’ community, the second one will be located in Tokyo and will start working in January 2019. The major focus of Sirin Labs has always been on security, and FINNEY is no exception. Moreover, the phone has two other features that draw attention. The first is dCENTER, a DApp marketplace, which differs by encouraging partners to offer incentivized educational schemes for owners to “learn and earn.” Another feature is the Token Conversion Service (TCS) for easy payments, which includes a market value-based currency exchange. Here’s a surprise: the #finney phone really does have the ability to make paying/using cryptocurrency securely, on a phone, possible for the masses. Really. Outstanding UX design by @SIRINLABS — Andy Boxall (@AndyBoxall) November 29, 2018 As for technical characteristics, the FINNEY smartphone is made from metal and Gorilla Glass, and is powered by a Snapdragon 845 processor and 6GB of RAM. The main screen measures 6 inches and has a 2160 x 1080 pixel resolution, while the cold-storage wallet has a 2-inch screen. The 12-megapixel camera on the back of the phone has an f/1.8 aperture, and the self-camera has 8 megapixels and an f/2.2 aperture. The phone connects to GSM and CDMA networks, has NFC and Bluetooth 5.0, a 3,280mAh battery, and a fingerprint sensor. Sirin Labs’ Blockchain Smartphone ‘Finney’ Now Available for Pre-Order

15 days ago

The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds Zcash

Digital asset exchange Kucoin has partnered with an Israeli startup to introduce credit card payments for cryptocurrency purchases and we’ve covered it in The Daily. Also, Coinbase has added privacy coin zcash to its professional trading platform, while Okex has delisted dozens of trading pairs with low liquidity. And in Ghana, over 100,000 investors have lost millions of dollars in a coin scam. Also read: Coinbase Launches OTC Desk, Huobi Opens Derivatives Market Kucoin Introduces Credit Card Payments Kucoin has teamed up with Simplex to allow its users to buy cryptocurrencies with credit and debit cards. The Singapore-based exchange’s new service is now available in over 100 countries. Its customers can use U.S. dollars and euros to purchase bitcoin core (BTC), ether (ETH) and litecoin (LTC). Simplex is a provider of payment processing solutions headquartered in Israel. The fintech startup operates globally and has subsidiaries in the U.S., U.K. and Lithuania. Merchants using its services receive their payments from Simplex, even in the case of fraudulent chargebacks. The company already cooperates with some of the leading platforms in the crypto space, including Shapeshift and Changelly. Kucoin recently raised a total of $20 million in a series A funding round. The exchange, which started trading digital assets in September of last year, now has more than 5 million registered users in over 100 different jurisdictions. Coinbase Pro Adds Privacy Coin Zcash Leading U.S. cryptocurrency exchange Coinbase has listed privacy-centric digital coin zcash (ZEC) on its professional digital asset trading platform, Coinbase Pro. According to an official announcement, Coinbase Pro started accepting ZEC deposits on Thursday, Nov. 29. “We will accept deposits for at least 12 hours prior to enabling trading,” the company explained in a blog post, which also detailed: “Once sufficient liquidity is established, trading on the ZEC/USDC order book will start.” The San Francisco-based exchange also revealed that initially ZEC trading will be available for residents of the Unites States, excluding New York, and Coinbase Pro users in the U.K., EU member states, Canada, Singapore and Australia. Support for other jurisdictions may be provided in the future, Coinbase noted. The company will also consider adding ZEC to its consumer platform and mobile apps if there are no technical issues with trading on Coinbase Pro. Following the announcement, the price of zcash jumped by about 15 percent. At the time of writing, the coin was trading at around $88. Okex Delists Trading Pairs With Low Liquidity Okex, currently the second-largest cryptocurrency exchange by daily trading volume, announced that it’s delisting 38 trading pairs and tokens with weak liquidity and low trading volume. The decision pertains to firstblood, district0x, iconomi, santiment network and singulardtv, among other coins. The full list is available on the platform’s website. The trading pairs will be delisted on Nov. 30. Okex advises users to cancel their orders with the affected coins or the exchange will cancel them automatically and credit the assets to the trading accounts. Okex customers holding a number of tokens — VEE, LEV, AVT, CBT, WRC, QVT, MTL, DNA, DNT, OAX, 1ST, CAG, UKG, BRD, SAN, ICN, ATL, SUB, REQ, NGC, AMM, LA, DENT, CIT, DAT and MAG — have been asked to withdraw them to other cryptocurrency platforms before Dec. 14. Investors in Ghana Lose $27M in Coin Scam More than 110,000 Ghanaians have been reportedly defrauded in a scheme involving cryptocurrency investments. According to local media, Kwaku Kumi and David Opatey — executives of an entity called Global Coin Community Help (GCCH) — have been arrested and interrogated by the country’s Economic and Organized Crime Office. Both have been released on bail, however. The swindled investors lost an estimated 135 million Ghanaian cedi, or roughly $27 million, the Ghanaian news outlet Daily Graphic reported. According to investigators, GCCH accepted deposits without a license from the Bank of Ghana. The company promised to pay customers a monthly interest rate of 27 percent for a period of one year. Unable to pay the high interest rate, the fraudsters later offered to compensate the investors with digital coins traded on an exchange called Mintcrtx. When their deposits were converted, the tokens were valued at 20 Ghanaian cedi per coin, but their price has since dropped to only 2 cedi. Police found that the trading platform is owned and operated by GCCH. 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 The Daily: Kuc

15 days ago

Over 50K Revolut’s Users Can Celebrate as the Banking App Launches in Japan and Singapore

CoinSpeaker Over 50K Revolut’s Users Can Celebrate as the Banking App Launches in Japan and Singapore The faster technological revolution unfolds, the more vividly banks and financial institutions feel the threat posed by a crypto-replacement of fiat money and tangible assets. Today they have to embrace rapidly changing blockchain environment in order to survive and save their competitive edge in the industry. Seamless cross-border remittance corridors together with an immutable digital ledger made cryptocurrencies as well as the robust blockchain technology behind them a number one alternative for traditional banking services. Unlike payments made in dollars or euros that usually are executed for a couple of weeks, millions of cryptos can be transferred internationally in just a matter of seconds and for a much lower price tag. Nowadays it is profitable to pay with cryptos, therefore financial institutions are forced to expand their horizons otherwise, they are going to lose clientele. However, while the world’s most reputable banking giants still doubt to tip their toes in cryptos, newly born fintech startups firmly take over the initiative. Revolut’s Golden Ticket London-based financial service Revolut is a good example of a paying back initiative. As previously reported by Coinspeaker, the startup has managed to reach $1.7 billion valuations following the integration of cryptocurrency trading to its platform. In addition to Coinbase, Revolut is the only fintech company in entire Europe that allows its users to spend, store, send, and receive payments from both - cryptocurrency accounts and bank accounts. For Revolut an additional the support for cryptocurrencies became a golden ticket as the company has managed to raise over $250 million from notable investors including early Facebook investor DST Global and Dropbox backer Index Ventures. APAC Coverage Initially, the company was planning to spend collected money rolling out business in the U.S. Nevertheless, later Revolut has shifted its focus on the Asia-Pacific. In the official statement made on Thuesday, Revolut said that it intends to launch its platform in the region in the first quarter of 2019 Reportedly the fintech company has already received legal approvals from both Singaporean and Japanese financial authorities, operating under a licence similar to its UK business through partnerships with local banks. In Singapore, Revolut was granted a Remittance License by the Monetary Authority and a Stored Value Facility approval — these two things combined let the Revolut users hold money as well as send and spend money. In Japan, the company has been authorized to operate by Japan’s Finance Service Agency. Yet it became known that not every feature available for European customers will be allowed at Singaporean and Japanese versions of Revolut service. At launch, Revolut will focus on the electronic wallet and the payment card, but the users won’t be able to buy cryptocurrencies and create business accounts until all of the regulatory issues will be settled. Major in payment cards is quite evident, considering the recent launch of Revolut VIP Metal Card with cashback in cryptocurrency. So far more than 50,000 people in the APAC region have signed up to a waiting list to create an account with Revolut that is a promising start. Further Revolut is looking to eventually release its app in the U.S., Canada, Australia and New Zealand. Over 50K Revolut’s Users Can Celebrate as the Banking App Launches in Japan and Singapore

16 days ago

Tom Lee: Crypto Is Bent Not Broken, Plenty of Room to Grow

Whether you like him or not, Tom Lee, Fundstrat Global Advisors’ head of research, has been one of Bitcoin’s foremost advocates in recent memory. In a testament to this, the former JP Morgan managing partner has arguably become crypto’s de-facto figurehead, appearing on mainstream outlets to tout his over-ardent optimism on this budding asset class. And while his short-term outlook on Bitcoin has recently undergone a slight shift, presumably due to this year’s market pitfalls, Lee recently doubled-down on his sentiment that cryptocurrencies will boom in the long haul. Related Reading: Tom Lee’s Big Bitcoin Price Prediction Dropped to $15,000 Tom Lee On Recent Bitcoin Drawdown In the past 15 days, crypto investors across the globe have been perplexed by Bitcoin’s latest draw-down, which saw the asset move from $6,200 to a yearly low at $3,400. The short-term bearish, long-term bullish subset of analysts, which includes Tone Vays, noted that such a move was inevitable. But in the eyes of speculators and virgin traders, Bitcoin’s 40% collapse was a demeaning sight, one that seemingly came from the ether, if you will. However, Lee, who also acts as Fundstrat’s in-house crypto analyst, sought to make crypto’s latest leg lower palpable, taking to BlockShow Asia 2018’s main stage on Tuesday. Lee, often called one of Bitcoin’s biggest bulls, drew attention to three “temporary disruptions” in the cryptosphere: the U.S. Securities and Exchange Commission’s recent crackdown on ICOs and digital securities markets, the Bitcoin Cash network upgrade debacle, which he dubbed a “fork war,” and the “meltdown” of the macro traditional equities market, which has seen the S&P 500, for example, fall by 9% in two months alone. Interestingly, Fundstrat’s research head explained that many of his clients, who are experiencing the full brunt of the stormy stock market, have fallen victim to the sentiment that cryptocurrency markets are beyond repair. But, Lee, who evidently still has some crypto cards on the table, explained that he has to politely disagree with this bearishness, subsequently noting that the Bitcoin crash can actually be deemed “healthy.” Touching on this ludicrous claim, the Bitcoin advocate noted that crypto’s dismal performance has routed industry participants’ attention away from price into building “real, high-return, value-capture products” that better the underlying ecosystem. Crypto Is Bent, Not Broken, And It Has Room To Grow So, putting it short and sweet, Lee explained Bitcoin is “bent, not broken,” before adding that this nascent industry has staying power due to Bitcoin’s $1.3 trillion in on-chain transaction value, which is reportedly 2.5 times Paypal’s value throughput and “just a few years away” from that of Visa. More importantly, the Fundstrat representative added that there is still “enviable” profitability in the cryptosphere, estimating that BitMEX is poised to make $1.2 billion in fiscal 2018. This profit alone would make BitMEX, an infant crypto mercantile platform, more profitable than Hong Kong Exchanges & Clearing and Nasdaq, even while Bitcoin is just a decade-old creation. So, stating that the two aforementioned factors are the proof in the pudding, so to speak, Lee noted that crypto is here to stay, without a doubt. And, more notably, has a copious amount of leg room. Lee then drew attention to the “Silent Generation’s” unbridled enamorment with gold, which catalyzed a 15x bull run for the precious metal, adding that it is likely going to be the same for millennials and crypto assets. Still, he added that this isn’t going to happen overnight, as he brought up institutions and the importance they place on Bitcoin’s 200-day moving average (MA). He noted: “We have a price correction taking place, which has caused the price to fall even below its 200-day MA, but if you’ve got time, it will rise. It will not happen within three months, or one year, but in two to three years, but this is the golden time to be in crypto. As soon as Bitcoin crosses its 200-day, we know there will be a flood of money coming.” Featured Image from Shutterstock The post Tom Lee: Crypto Is Bent Not Broken, Plenty of Room to Grow appeared first on NewsBTC.

16 days ago

‘Buyers Will be Able to Verify the Origin of Gold’ -Innnovaminex CEO [Interview)

Bitcoinist spoke with Fernando García Sanz, CEO of InnovaMinex on their new platform that is applying blockchain technology in the physical mining of gold. Blockchain technology is the technology of the future, which allows us to expand the boundaries of business in its usual sense. It can be used in various fields, including the mining industry. - Fernando Garcia Sanz, InnovaMinex CEO Bitcoinist: Fernando, could you please tell us all a little more about InnovaMinex? Fernando García Sanz: InnovaMinex is a live project that uses blockchain technology to guarantee the traceability, processing, and transportation of precious metals. Why did you decide to use blockchain technology in your project? We decided to use it because it allows us to certify the entire process of mining - from gold’s origin in the mines to the end consumer. Basically, buyers will be able to verify the origin of the metal they purchased. What advantages will blockchain give to customers? Everyone will be able to make sure that the gold or jewelry they bought is completely legal and ethical! Why is your project in gold? Gold today is a stable investment with a long history that can be trusted. Investing in gold has never been accompanied by volatility. Even when investing in gold was not very attractive, its value continued to grow. The fact that it is a safe haven investment, not dependent on financial market events as many other products do, also speaks in its favor. What is the project’s main goal? First of all, we strive to make gold and other precious metals more accessible to a wider range of consumers, using our INX cryptocurrency, which will reduce their cost to end customers and ensure the security and transparency of all transactions. Our project will be able to provide a stable cryptocurrency, giving participants the opportunity to take advantage of its non-linear but strong relationship with gold - INX tokens could bring benefits to holders even if the price of gold decreases. Could you please tell us more about INX? What are the main benefits of it? INX is a multifunctional financial tool that has several uses. People who buy gold and other precious metals using INX tokens will receive very significant discounts - for those people, the price of our precious metal products will be up to 30% less than that of the market. Are you assuming that INX token will grow? Indeed, the demand for gold already exists and it does not need to be created in any artificial way. Today, gold is the most stable investment vehicle, which has a constantly growing demand. The growth in demand will stimulate the growth and development of InnovaMinex and, therefore, the growth of its crypto. Are there any more ways to earn money with INX tokens for holders? Yes! InnovaMinex distributes 25% of its quarterly benefits among the INX token holders who keep them in their wallet for 3 months, in the form of discount vouchers. These vouchers can be used to purchase gold and other precious metals with discounts up to 90%. Thus, we strive to make INX tokens as profitable as possible for their holders and reduce the number of investors who may want to sell them. How far ahead is the project and do you have a working product? Our project already has MVP and successful mining and processing companies under it. We are a shareholder of MinexCorp, which acquired 80% of a Colombian company owning several gold-mining leases. We have already launched our first project for the extraction and processing of precious metals, and more projects will start soon. These projects are GUAYAQUIL, VIZCAYA, BOLÍVAR 2, ANTIOQUIA 3, MINEX 7, MINEX 12, TOLIMA. Among other products, we will release gold and silver coins with special designs, creating a new market that will attract many people, so increasing the value of our project. What do you mean by gold and silver coins with special designs? We are planning to launch various collections of cryptocurrency coin molds, made with silver and gold, as well as to issue precious metal ingots and bars, branded with corresponding cryptocurrency logos. This means that very soon we will be able to hold one Bitcoin or one Ethereum in our hands, gift them to someone close to us, or create our own collection of precious metal coins (note that these coins won’t have the corresponding cryptocurrency values, but those of their weighted precious metal, as well as those of their design and of the limited edition collections in which they are going to be issued). To begin with, the precious metal coins we plan to release are Bitcoin, Ethereum, Litecoin, Dash, Neo, Iota, Dbix, and INX, and later add other coins. Our designers are already working on it. How do you see the future of InnovaMinex within 5 years? Our objective is that 5 years from now, all seven mining projects will be operational. We will not buy mines, we will only partner with local miners, which allow us to significantly reduce costs. MinexCorp is a very serious company with a s

16 days ago

Stablecoin: O conto de fadas

Por: Livecoins Era uma vez uma raça de gigantes que controlava quase tudo em um reino não muito distante. Eles fizeram isso por meio de algo chamado dinheiro, que era apenas um pedaço de papel com fotos impressas, mas os gigantes - que se chamavam Bankos - convenceram a todos os elfos de que o dinheiro era real. Eles provaram que o pedaço de papel valia o mesmo que vastos estoques de um metal brilhante escondidos em seus castelos, e eles prometeram que se o papel parasse de funcionar, os Elfos do reino não muito distante poderiam usar o metal brilhante. Como os Elfos são bem pequenos, eles preferiam carregar o papel ao invés de grandes pedaços de metal, então eles concordaram com a ideia. Isso continuou por centenas de anos e, embora os elfos não gostassem muito, ninguém conseguia pensar em uma maneira melhor de fazer as coisas, porque o dinheiro permitia que coisas de Elfos fossem compradas e vendidas. Enquanto isso, os Bankeiros controlavam cada vez mais a vida de todos os Elfos, mas quase ninguém notou. Um Mágico Então, um dia, um mágico muito inteligente inventou um tipo completamente novo de dinheiro, que era feito de eletricidade e não precisava dos bankeiros. Alguns dos elfos ficaram muito entusiasmados com isso e em pouco tempo foram quase tão ricos e poderosos quanto os bankeiros. O único problema era que o novo dinheiro feito de eletricidade era muito forte um dia, e muito fraco no dia seguinte. Enquanto isso, os bankeiros viram que alguns elfos estavam se saindo muito bem com o novo dinheiro elétrico, então começaram a gritar para os vários reis e rainhas que deveriam ser os verdadeiros governantes do Reino não muito distante. Eles disseram que o dinheiro elétrico tinha que ser parado de alguma forma, e que o dinheiro elétrico era um truque mágico projetado para roubar coisas que legitimamente pertenciam aos reinos. Na verdade, os bankeiros disseram tudo isso para assustar os reis e rainhas. A essa altura, no entanto, haviam elfos bem inteligentes, e logo eles inventaram todo tipo de dinheiro elétrico, alguns até pensaram em apoiar isso com o papel-moeda que poderia ser mantido nos castelos dos Bankos, ou talvez até mesmo o metal brilhante mantido pelos bankeiros para apoiar o papel. Eles raciocinaram que isso impediria o dinheiro elétrico de ter o valor subindo e descendo o tempo todo. A raça de gigantes chamada Bankos gostou bastante dessa ideia porque significaria que eles poderiam usar e controlar o dinheiro elétrico enquanto fingiam odiá-lo. E todo o seu metal brilhante permaneceria em segurança em seus castelos e, por alguma razão inexplicável, os inteligentes Elfos estavam felizes com isso. Felizes para sempre? Então, agora, os bankeiros que realmente odiavam os elfos inteligentes e os inteligentes elfos que realmente odiavam os bankeiros estavam trabalhando juntos no mesmo projeto - que era fazer o novo dinheiro elétrico exatamente como o antigo papel moeda, que era exatamente como o dinheiro de metal brilhante. Alguns dos bankeiros chegaram a pensar em outras coisas que o dinheiro elétrico poderia ser equivalente, como jóias ou feijões mágicos. E assim, depois de todos os altos e baixos rápidos do novo dinheiro elétrico, o controle passou a voltar para os bankos no reino não tão distante e ninguém notou que a situação era exatamente como sempre foi, exceto com nomes diferentes para as coisas. Texto adaptado. Originalmente publicado na O artigo Stablecoin: O conto de fadas apareceu primeiro em Livecoins.

17 days ago

Exchanges’ Mass-Delisting of Tokens: A Precursor To The Next Bull Market?

With the price of Bitcoin hitting yearly lows, and many Altcoins now dipping far below their ICO price, it’s becoming clear that many cryptocurrencies will not survive this bear market. Because the ecosystem is so new, most of us are uncertain about what signs to look for to determine whether a crypto project is on its last legs. Price is an obvious indicator, but that can sometimes be deceiving. After all, if all the projects that lost 70-90% of their value in the past year were on their way out, then that would only leave about 3-5 projects in the entire space. A much clearer sign of a project’s demise is its delisting from major exchanges. Just today, OKEX announced that they would be delisting a third batch of trading pairs. The exchange stated that; “To create a robust trading environment and offer the best trading experience to our users, we will delist several TRADING PAIRS with weak liquidity and trading volume according to the OKEx Token Delisting / Hiding Guideline.” The affected tokens include Request Network (REQ), Raiden Network (RDN), Metal, (MTL), Iconomi (ICN) and around 30 more. Most of the tokens are paired with either ETH or BTC, while some are paired with USDT. The rising number of tokens being delisted should not surprise anyone. However, some of the names included in the list are still quite shocking, especially considering how highly tokens like REQ or RDN were held in regard just 6-8 months ago. What this reveals is that many promising projects are failing to not only meet the standards of investors but even the standards of the exchanges. Exchanges are businesses that literally profit from featuring as many tokens as possible (more token trading pairs equals more revenue earned from trading fees). Yet, the listed 30 or so tokens have performed so poorly, in matters of trading volume, that their presence on an exchange like OKEX is a net negative. According to OKEXs delisting guidelines, decisions to delist a token are based on the following criteria: Project and Team - making major changes in the team, product or business model without notifying OKEx in advance for auditing; or transferring or selling the project Token Trading - Increasing the total available supply of the token or splitting the token without notifying users and the exchange 15 days in advance Operations - Major deviations in information disclosure, deceiving users and the exchange Project Technology - The project development is not carried out in accordance with the timeline of the roadmap planned in the White Paper. Progress delays without explanation or announcement Security & Safety - Serious technical or safety issues found during Mainnet swap and refusing to pay a security deposit These criteria lead us to believe that the current batch of tokens being delisted had not only failed to meet expectations in terms of development, but may have also made big decisions without informing their community or the exchange, which would be a big breach of trust in the crypto space. Furthermore, regulatory issues may have created added pressure for exchanges to delist certain tokens that were clearly offering unregistered securities. Exchanges who have an interest in penetrating the US market would have to be especially cautious about the type of tokens they allow to be traded to avoid clashing with the SEC. OKEX is Not Alone In recent months, other exchanges, like Bittrex and Kucoin have also delisted tokens. In October, Bittrex delisted Bitshares, Bitcoin Gold and Bitcoin private. Kucoin announced that they were delisting 6 coins just 2 days ago (Raiden Network being amongst them). Lastly, Poloniex announced back in July that they would delist 9 coins. The reasons for delisting ranged from security issues (Bitcoin Gold experienced one of the largest 51% attacks in cryptocurrency history), difficulties runnings nodes (BTS), or simply limited trading volume. Predictably, all coins experienced a 20-80% decline when their delisting was announced. The Positive Aspect: Is this cleansing a precursor to the bull market? The bright side of OKEX removing these trading pairs from their exchange is that it increases the quality of tokens available for trading. OKEX is one of the largest exchanges in the world, and by setting strict quality standards, it displays a level of integrity on behalf of the exchange, and it also reduces the risk of retail investors being exposed to fraudulent projects. This is a great example of the crypto space maturing and taking responsibility for filtering out its weakest links and bad actors so that the SEC doesn’t have to. Ultimately, if more exchanges focus less on short-term revenue, and more on raising the quality standards of the tokens listed, we will establish a natural filtering process that allows only the strongest and most transparent projects to flourish during the next crypto bull run. The post Exchanges’ Mass-Delisting of Tokens: A Precursor To The Next Bull Market? appeared first on C

17 days ago

Gold-Backed Stablecoin Makes List of Best Investment Advice

Cryptocurrency, Stablecoins-The last two weeks have been a tumultuous time for cryptocurrency investors and advocates, who have watched the market capitalization of the industry fall by $90 billion, or nearly half of its valuation since the start of the month. However, some optimism is growing in the space as the committed developers and future-seekers for the technology shun the daily obsession over price changes and focus on new adoption. Stablecoins, made popular by Tether’s USDT currency, have been a growing subfield within cryptocurrency as a natural outlet for investors and developers frustrated with the extreme price volatility of BTC and the likes of altcoins. While Tether, which has minted $1.83 billion worth of USDT, appeared to have the market cornered only just a year ago, the company has given way to competition over scandals related to its bank holding and dealings with exchange Bitfinex. Instead of being the go to currency for those looking to transact in a more stable digital asset, a new crop of stablecoins with a variety of valuation-pegging have drawn the interest of investors and project developers. On Nov. 27th, Bloomberg published an article titled Where to Invest $1 Million Right Now. Amongst the experts surveyed, one suggested the profit to be found in a gold-backed stablecoin, giving some much needed exposure to cryptocurrency in a time of otherwise dire price movement. Speaking with the publication, Darrin Woo-the director of Woo Hon Fai Group-explained his belief in the physicality of gold, and how digital assets such as crypto-based stablecoins provide new innovation for transacting in the precious metal, “Because of my family background—my grandfather founded Lee Cheong Gold Dealers in Hong Kong in 1950—I believe in the physicality of gold. I would buy a million dollars’ worth of bullion bars and stuff them under my mattress. Gold has underperformed the S&P 500 index for the past five years...In the next 10 years gold is one of the best contrarian plays. I say buy when no one else does.” Woo goes on to include the rise of digital tokens entering the space of gold, highlighting a project he has recently invested in called G-Coin. As opposed to Tether, which is supposed to be backed 1:1 with U.S. dollars-and therefore at the mercy of inflation/volatility associated with the currency-G-Coin is a stablecoin backed by the price of gold. While investors are exposed to some volatility in the form of the precious metal marketplace, they also have the ability to benefit from price appreciation in the sector, a feature that tends to be lacking as a digital investment for most stablecoins. Woo continues, “If you talk to millennials, they aren’t interested in buying stocks and don’t even have brokerage accounts, and they can’t afford real estate. So they are looking for a store of value that’s also convenient. They are interested in new technology and blockchain and using a digital wallet.” Woo highlights the volatility of Bitcoin and most altcoins as being a barrier to entry for most investors, with gold-backing in the form of a stablecoin providing more protection against the recent price crash experience this month, “Unlike Bitcoin and Ether, whose prices trade wildly, gold-backed tokens have an intrinsic value and should be a lot less volatile...G-Coin [is] backed by gold produced in accordance with World Gold Council and Responsible Jewellery Council standards. The resulting gold can be tracked from mine to vault using blockchain.” Given the strain put on both investor portfolios and the general perception of the crypto industry, it is little surprise that stablecoins are becoming a more attractive feature for new ventures into the world of digital assets. Until Bitcoin can prove long-term viability and stability to holders, cryptocurrency might continue to give more market share to currencies which can tie their value to an external, and theoretically more stable source. The post Gold-Backed Stablecoin Makes List of Best Investment Advice appeared first on Ethereum World News.

17 days ago

OKEx Delists Another 49 Trading Pairs, Withdrawal of 26 Affected Tokens To Close by December 14th

Earlier today, the popular cryptocurrency exchange of OKEx announced that it was delisting another batch of trading pairs. This is after it just delisted over 50 trading pairs this past October. The delisting is to create a robust trading environment and offer the best trading experience for users. The affected trading pairs have been found by the exchange as having weak liquidity and low trad volume. The list of affected pairs can be found below. Ticker Name of project Affected trading pair(s) 1ST FirstBlood USDT AMM Micromoney USDT ATL ATLANT ETH AVT Aventus BTC BRD Bread ETH CAG Change USDT CBT CommerceBlock BTC CIT Carinet BTC, ETH, OKB DAT Datum BTC, ETH, USDT DENT DENT BTC, ETH, USDT DNA EncrypGen USDT DNT district0x USDT EVX Everex ETH GNX Genaro Network USDT ICN Iconomi USDT KEY Selfkey USDT LA LAToken ETH LEV Leverj BTC, ETH, USDT MAG Maggie USDT MTL Metal BTC, ETH MVP Merculet BTC NGC NAGA BTC OAX OAX USDT OST Simple Token BTC QVT Qvolta USDT RDN Raiden Network Token BTC REN Republic Protocol ETH, USDT REQ Request Network ETH RNT OneRoot Network BTC SAN Santiment Network Token USDT SHOW Show BTC SNGLS SingularDTV BTC, ETH SPF Sportyco USDT SUB SubStratum BTC TRA Travel USDT UKG Unikoin Gold ETH VEE BLOCKv ETH WRC Worldcore USDT Delisting to Be On November 31st, 2018 OKEx stated that the above pairs will be delisted at 5:00am (UTC + 1) on the 31st of November this year. Users are advised to cancel their orders before the set time. All orders that will be active and related to the affected pairs at the time of the delisting, will be automatically canceled and the system will credit them to the trading accounts of the users. Withdrawals of 26 Affected Tokens Supported Till December 14th, 2018 OKEx goes on to state that withdrawals of 26 of the affected tokens will only be supported till 5am (UTC + 1) on the 14th of December, 2018. The exact statement listing the affected tokens is as follows: For users who are holding VEE, LEV, AVT, CBT, WRC, QVT, MTL, DNA, DNT, OAX, 1ST, CAG, UKG, BRD, SAN, ICN, ATL, SUB, REQ, NGC, AMM, LA, DENT, CIT, DAT, or MAG, please withdraw your tokens immediately to other platforms or to your wallet. The withdrawals of the above token will be closed from 05:00 Dec 14, 2018 (CET). The delisting of the trading pairs is in line with the exchange’s guidelines. What are your thoughts on OKEx delisting the trading pairs and the subsequent announcement of only supporting withdrawal of 26 tokens affected tokens till mid December? Please let us know in the comment section below. The post OKEx Delists Another 49 Trading Pairs, Withdrawal of 26 Affected Tokens To Close by December 14th appeared first on Ethereum World News.

17 days ago

Snowden: “Large Population” Believes in Bitcoin as Means of Exchange

In a recent interview, former Central Intelligence Agency (CIA) employee and National Security Agency (NSA) subcontractor turned whistleblower, Edward Snowden, argued that the price and value of bitcoin is an expression of the “large population” that believes in its “usefulness” as a means of exchange. Also Read: UK Regulators Plan “Comprehensive Response” to Illicit Crypto Use Edward Snowden Discusses Intrinsic Value of Bitcoin Famed whistleblower, Edward Snowden, recently spoke in favor of bitcoin’s capacity to function as a money during an interview with McSweeney’s. Snowden describes distributed ledger technology as comprising a “new kind of database” on which “history ... can’t be manipulated,” which Snowden also argues comprises the fundamental intrinsic value underpinning bitcoin. Snowden stated: “Imagine that instead of today’s world, where publicly important data is often held exclusively at GenericCorp LLC, which can and does play God with it at the public’s expense, it’s in a thousand places with a hundred jurisdictions. There is no takedown mechanism or other “let’s be evil” button, and creating one requires a global consensus of, generally, at least 51 percent of the network in support of changing the rule.” Snowden Argues “Large Population” Believes in Bitcoin as Monetary Commodity Snowden gave a critical appraisal of the value ascribed to fiat currencies, stating: “What makes a little piece of green paper worth anything? If you’re not cynical enough to say ‘men with guns’, which are the reason legal tender is treated different from Monopoly money, you’re talking about scarcity and shared belief in the usefulness of the currency as a store of value or a means of exchange.” On the subject of gold, the former CIA employee asserts that the precious metal is “worth so much more than its limited but real practical uses in industry” because “people generally agree it’s worth more than its practical value.” Like gold, Snowden asserts that cryptocurrencies have “very limited fundamental value,” adding: “at most, it’s a token that lets you save data into the blocks of their respective blockchains, forcing everybody participating in that blockchain to keep a copy of it for you.” Ultimately, Snowden argues that “the only thing that gives cryptocurrencies value is the belief of a large population in their usefulness as a means of exchange,” adding: “As long as there are people out there who want to be able to move money without banks, cryptocurrencies are likely to be valued.” “Town-Sized Godzillas of Computation” Being Devoted to Crypto Mining On the topic of mining, Snowden asserted that the “flaw” in the “brilliance” of cryptocurrency was “the failure to account for Bitcoin becoming too successful,” and the resulting effects of increased prices and adoption on the mining process. Snowden continued: “The reward for winning a round, once worth mere pennies, is now around one hundred thousand dollars, making it economically reasonable for people to divert enormous amounts of energy, and data centers full of computer equipment, toward the math — or ‘mining’ — contest. Town-sized Godzillas of computation are being poured into this competition, ratcheting the difficulty of the problems beyond comprehension.” Do you agree with Snowden’s arguments regarding the intrinsic value of bitcoin and cryptocurrency? Share your thoughts in the comments section below! Images courtesy of Shutterstock The Bitcoin universe is vast. So is Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page. The post Snowden: “Large Population” Believes in Bitcoin as Means of Exchange appeared first on Bitcoin News.

20 days ago

Crypto Week In Review: Binance Makes OTC Desk Investment, Bakkt Delays Bitcoin Futures

As 2018 bids its last farewells, the crypto market has stuttered, with a majority of crypto assets establishing new year-to-date lows, leading many analysts to express their sentiment that capitulation is officially occurring. However, the peculiar performance of the market hasn’t fazed this industry’s leading constituents. Binance, for one, continued its investment spree, siphoning millions into a budding upstart. Binance Throws $3 Million At OTC Crypto Desk, Foray Into China Expected Binance, the crypto industry’s leading retail exchange, hasn’t seemingly remained unfazed amid the cryptocurrency market downturn, recently diverting $3 million of its venture arm’s war chest into Koi Trading, a U.S.-based over-the-counter (OTC) trading desk that specializes in non-retail crypto exchange. Per previous reports from NewsBTC, Koi Trading also has hands in the jars of other industries, which include data science and analytics, quantitative research, and compliance. The San Francisco-based startup’s expansive portfolio presumably made it a logical investment for Binance itself, which has been ramping up its ventures throughout 2018’s dismal market. Still, it was divulged by Ella Zhang, chief of Binance Labs, that her firm’s investment in the OTC desk was triggered by the alignment of Koi Trading’s and that of Binance. Zhang explained: “Koi’s Trading mission is to bridge fiat and cryptocurrencies in a compliant manner. This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of exchange globally.” Although Binance’s investment in Koi seems cut and dried, some believe that the $3 million investment was made in a bid to capitalize on China’s tumultuous crypto scene, which has been beaten and battered by local regulators in recent months. Per Hao Chen, CEO and founder of the startup, Koi has been bolstering its business relationships in “Greater China,” alluding to speculation that it may foray into that market in due time. It isn’t clear how the desk will skirt Beijing’s regulations, which have included a crackdown on OTC platforms and online discussion regarding cryptocurrencies, but many are hopeful that Koi’s entrance into China will catalyze another round of investment “FOMO” from the local clientele. Bitcoin Commerce Payments Down 80% Since January, Scalability Blamed Per data from Chainalysis, a leading crypto analytics startup, the U.S. dollar value of on-chain Bitcoin payment processor-based transactions has fallen drastically since early-2018’s all-time high. More specifically, the aforementioned statistic has taken an 80% hit since January, comparable to BTC’s 75% decline in the same time frame. To attribute figures to this collapse, Reuters expressed that in late-December/early-January, over $427 million in BTC was transacted for retail payments. Now, just shy of a year later, this figure has fallen to a mere $96 million. While the latter figure isn’t something to sneeze at, the fact that such a collapse occurred, even though BTC found a semblance of stability in recent months, isn’t a promising sign for the short-term prospects of crypto. Speaking on these statistics, London-based UBS strategist Joni Teves explained that scalability should catalyze the global adoption of Bitcoin in commerce. This sentiment echoes comments issued by Joey Krug, an Augur co-founder turned Pantera Capital executive, who told Bloomberg that the lack of efficiency on decentralized blockchain networks is directly hampering adoption. Although the cryptosphere only recently began to walk on its own two legs, Krug explained that scaling blockchain networks, while difficult, is something that innovators within this industry can accomplish with a dab of elbow grease, grit, and determination. And when that happens, the Pantera executive added the crypto industry will undergo its next round of a Cambrian-level bout of growth, which Krug says will boost digital assets values by tenfold. Bakkt Delays Bitcoin Futures Launch After a multi-month hype cycle, Bakkt, an Intercontinental Exchange (ICE)-sponsored crypto-centric initiative, has divulged that it has fallen victim to an unfortunate road bump, a byproduct of the corporate world today. Through a Medium post on the matter, Bakkt CEO Kelly Loeffler, formerly of the Intercontinental Exchange (ICE), revealed that her startup is now “targeting” January 24th, 2019 for the launch of its physically-backed Bitcoin futures contract, instead of December 12th. Loeffler, evidently aiming to calm players’ qualms regarding Bakkt, noted that “given the volume of interest in Bakkt and work required to get all our pieces in place,” a delay would be duly in order to ensure the program’s clients and business partners are poised for launch. The 40-day delay aside, Bakkt has maintained that it is hell-bent on putting the pedal to the metal, as it were. Loeffler, wed to ICE CEO Jeff Sprecher, explained that the “level of collaboration at the exchange, customer,

20 days ago

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25 days ago

Daily Cryptocurrency News - 16th November 2018

Here are the most important news of 16th November 2018: - Greenlight From Authorities To Launch Pre-paid Metal VISA Cards In USA Earlier this day, receive approval from authorities to create & release their pre-paid metal VISA cards. The approval came earlier as expected, giving the opportunity to accelerate their main goal of “Cryptocurrency in Every WalletTM”. is not accepted yet in Europe and most of the Asian countries, but they plan to do it in the short future. The announcement was made via Twitter: Coming to America! @cryptocom is excited to announce that our MCO Visa Card has received the green light for launch in the United States. Another step towards our mission of accelerating the world’s transition to #cryptocurrency. Find out more: — (@cryptocom) November 16, 2018 This news lead to a 10%+ surge in MCO prices, followed by a decline under the $3.80 region. Even if the price decline, its still up compare to the $3.60 region where it was before the news. And most importantly, MCO grew despite the current bear market. The news came to life thanks to Metropolitan Commercial Bank and ( affiliated through Foris Inc.).There isn’t a current date for the U.S. card release date, this will be announced later. More details can be found here. Ripple (XRP) Takes #2 From Ethereum (ETH) Even though the cryptocurrency market lost about $25 billion in value over the past 48 hours, Ripple was the least affected one. On this bear market , Ripple decreased from $0.50 to a minimum of $0.43 for a few minutes but bounced back over the $0.45 value soon. At the moment of writing, XRP have a value of $0.47 in USD and a 8417 Satoshi in BTC - a significant increase from the 7127 Satoshi value which Ripple started the month with. This might by an effect of the recent Coinbase announcement that Ripple was now a part of Coinbase Custody - which probably led investors into thinking there’s a short time until Ripple (XRP) will also be accepted on Coinbase Pro. Moreover, as Zerocrypted reported, Ripple established a new partnership with CIMB Group - the fifth largest bank in the Southeast Asian Nations (ASEAN). CIMB is active in 15 countries, it have over 850 branches and more than 13.5 million customers. Right now, Ripple’s price is above the 50 EMA and might see a resistance level at the $0.49 value. Its nice to see that some cryptocurrencies are already decoupling themselves from Bitcoin - and have their own evolution despite Bitcoin’s up and downs. More details about Ripple can be found on Ripple Insights The Biggest Department Store In Venezuela Is Now Accepting Cryptocurrencies In tough times, people need to make tough decisions. As crypto was becoming more and more popular in Venezuela, TRAKI had to do something about it so they won’t lose their clients and improve the business. Therefore, the chain has decided to accept cryptocurrencies. Right now, TRAKI accepts: Bitcoin (BTC) Dash (DASH) Ethereum (ETH) Litecoin (LTC) Bitcoin Cash (BCH) The news were verified by a Reddit user called ImVito - which purchased 884 school supplies and clothing items for $260 - paid in BTC. The money were donated by the Reddit community and all the items will be helping the country’s kids in need. Venezuela is the countries that recently understood the power of cryptocurrencies, as the country is going through an inflation that will probably hit 1 million percent by the end of 2018. More details about this and how you can help Venezuelean people can be found on the ImVito’s Reddit post. Brave Announce the Launch of SpeedReader : A Fast & Private Reader Mode for the Web In a recent blog post, Brave launched SpeedReader - a Brave innovative approach to reader mode. Their new technology is useful on 22% of the web pages that are active right now. Moreover, its even better to use for forums and other used-shared content types of websites - such as Twitter or Reddit. SpeedReader improve the reader more both aesthetically and by its improved performances : Speedups ranging between 20x to 27 Bandwidth savings on the order of 84x Memory reduction of 2.4x Improve privacy related benefits You can check a preview of SpeedReader and how it works on a web page below: To check if a page can be displayed in a SpeedReader mode, Brave use a machine learning classifier. In Brave’s test, the machine learning classifier detects whether a page can or cannot be displayed in a reader mode with a 91% accuracy. More details about this can be found on Brave’s SpeedReader page. Bitcoin Mining Profitability - It’s currently 2.34x More Profitable to Mine BTC than BCH Apparently, the latest Bitcoin Cash Hard Fork didn’t helped the community at all. A few months ago, we could hear Roger Ver explaining how its more profitable to mine BCH instead of BTC. And he was probably right. But right now, the situation is a bit different. As Bitcoin Cash f

a month ago

Bitcoin e Altcoins começam a semana em queda: Por que e o que esperar?

Por: Livecoins Na semana passada vimos fortes quedas no bitcoin que chegou a ser negociado abaixo de US $ 5.500. Nesta segunda (19) o preço da moeda digital continua em baixa e começou com tendência negativa. O preço quebrou recentemente o suporte de US $ 5.500 e passou a ser negociado pelo menor valor de 2018. Da mesma forma, XRP e Ethereum estão sob muita pressão de venda, acumulando perdas de 4% e 10% respectivamente. O atual sentimento do mercado é claramente pessimista e parece que o bitcoin poderia continuar caindo para US $ 5.000 nos próximos dias: Sentimento de mercado: Imagem: Preço do Bitcoin Houve forte movimento de baixa ​​abaixo do suporte de US $ 5.600 chegando a ser negociado agora a US $ 5.284. O próximo nível de suporte é de US $ 5.000, abaixo dele existe um espaço vago até US $ 4.400. Olhando pelo lado positivo, existe resistência em US $ 5.500, acima da qual o preço poderia se recuperar em direção ao nível de US $ 5.750. A maior resistência é de US $ 6.000. Parece que o preço pode continuar a cair no curto prazo. Preço do Ethereum O preço do Ethereum caiu durante as últimas horas abaixo dos níveis de suporte de US $ 170 e US $ 160. O Ethereum está em queda de cerca de 13% sendo negociado por US $ 155. Existe um suporte de US $ 150, abaixo do qual o preço poderia cair para o nível de US $ 130. Pelo lado positivo, existe resistência de US $ 170, acima da qual o preço poderia subir para US $ 180. Bitcoin Cash ABC vs Bitcoin Cash SV Ambas as duas moedas derivadas do Bitcoin Cash perderam valor significativamente. O BCHABC (apoiada por Roger Ver) caiu cerca de 15% e passou a ser negociada abaixo de US $ 250. O BCHSV (apoiada por FakeToshi) entrou em colapso e caiu cerca de 30% para US $ 90. Outras altcoins XRP, a segunda maior criptomoeda do mercado em capitalização seguiu o caminho do bitcoin e perdeu 5% de valor. Atualmente está sendo negociada por US $ 0,475. Muitas altcoins perderam bastante valor e registraram perdas entre -15% -20%, incluindo LRC, ICX, WAN, AION, ELF, SRN, VET, IOST e MKR. Destas, o LRC caiu 18% e o ICX caiu 17%. Resumindo, o bitcoin e outras altcoins avançaram em direção ao núcleo da terra. O bitcoin talvez continue a cair para US $ 5.000 e, se os traders não conseguirem defender mais perdas, o preço poderá cair. Da mesma forma, o Ethereum deve ficar acima do nível de US $ 150 para evitar uma queda em direção a níveis de US $ 130 um futuro próximo. O que está acontecendo com o preço do Bitcoin? O preço do bitcoin caiu drasticamente na quarta-feira (14) à noite e na manhã de quinta-feira (15), quebrando o padrão de baixa volatilidade visto nas últimas semanas e meses. Dados do Coinmarketcap revelam que a capitalização de mercado do bitcoin caiu abaixo de US $ 100 bilhões pela primeira vez desde outubro de 2017, enquanto o valor de todo o mercado de criptomoedas caiu de quase US $ 210 bilhões, para US $ 167 bilhões. Ainda é cedo para dizer com certeza absoluta a razão por trás da recente queda, mas alguns especulam que a principal razão da volatilidade é o controverso hardfork do Bitcoin Cash. O que os especialistas do setor estão dizendo Mati Greenspan, Analista de Mercado Sênior da eToro, uma das maiores plataformas de negociação: “Três fatores estão contribuindo para a queda no preço do Bitcoin. Primeiro, o hard fork do Bitcoin Cash está se transformando em uma corrida armamentista entre os mineradores de bitcoin. Pode não ter impacto direto no preço, mas é algo que as pessoas estão preocupadas - há um temor de que os mineradores possam estar desviando o poder de mineração do bitcoin para o Bitcoin Cash. No entanto, o bitcoin tem uma taxa de hash mais que suficiente para manter sua taxa de transação. Outro fator que contribui é o selloff em ações de tecnologia, que pode estar tendo um efeito em cascata no mercado de criptomoedas. Finalmente, do ponto de vista da análise técnica, como o preço do bitcoin caiu abaixo de US $ 6.000, estamos vendo uma liquidação: as ordens de stop loss sendo executadas automaticamente e / ou pessoas tentando evitar mais perdas.” Marshall Hayner, fundador da Metal Pay, uma empresa de pagamentos e recompensas baseada em blockchain: “Para deixar claro, a queda provavelmente indica o fato de que os mais recentes especuladores de criptomoedas estão pulando fora das expectativas de curto prazo que dizem que haveria uma corrida de touros até o final do ano, muitos estão tirando suas fichas da mesa. Uma das principais conclusões desse declínio mais recente é a necessidade contínua de liquidez, que provavelmente será encontrada no futuro amadurecimento da indústria, esperançosamente na forma de adoção pelos consumidores de varejo em suas atividades cotidianas.” Donald Bullers, representante norte-americano da Elastos, desenvolvedora de um sistema operacional: “É seguro dizer que a divisão do Bitcoin Cash está provocando incerteza entre os investidores cripto, e os preversores dos mercados tradicionais e cripto previram um prolongado

a month ago

Deposit Cash is here! Tap on your Cash card and select Depos...

Deposit Cash is here! Tap on your Cash card and select Deposit to get started. Keeping a Cash balance on Metal Pay…

a month ago

Blockstream Launches Cryptocurrency Private Key Storage Metal

In a tweet, Blockstream has announced the release of Metal, a digital asset private keys storage. The device is said to be tamper proof and can protect private keys and seeds from floods and fire. Startup Billfodl manufactured the device which is based on the design by CryptoSteel. The news follows the launching of a block explorer by the company which helps users in monitoring Liquid Network and Bitcoin blockchain's real-time data. (KE)

a month ago

@kerooke @coinmetrics @onchainfx Metal Pay has been live for...

@kerooke @coinmetrics @onchainfx Metal Pay has been live for two months. We have thousands of users and have proc…

a month ago

Reason number #47 to use Metal Pay: #NationalFastFoodDay! ...

Reason number #47 to use Metal Pay: #NationalFastFoodDay! Pitch in for that fast food run w/ Metal Pay and you'll…

a month ago

New Free Metal Card With Crypto Perks to Be Launched in the US

New metal card with no annual fee and crypto perks to be released in the US, connecting fiat and crypto worlds #SPONSORED

a month ago

The US Will Receive MCO Visa Cards, the New Crypto.Com Cards Will Be Issued by Metropolitan Bank has decided to enter the US market and juggle with the patchwork of regulations in the US states. The company will be offering its MCO Visa cards to American customers soon. The cards will be issued by the Metropolitan Bank, a New York City-based entity which has a publicly traded parent company - Metropolitan Bank Holding Corp. Crypto.Com’s Huge Step in the US The Twitter handle of announced the news of its entry into the US markets. The company tweeted: Coming to America! @cryptocom is excited to announce that our MCO Visa Card has received the green light for launch in the United States. Another step towards our mission of accelerating the world’s transition to #cryptocurrency. Find out more: — (@cryptocom) November 16, 2018 Co-founder and CEO of, Kris Marszalek thanked Metropolitan Commercial Bank for sharing their vision and said that the market demand for the MCO Visa Card is high. He also said that the company is working to bring the cards to their customers as soon as they can. Marszalek also called the partnership with Metropolitan another step towards their mission of increasing crypto acceptance around the world. Metropolitan Commercial Bank’s president and CEO Mark DeFazio noted that the bank was pleased to work with and their subsidiary Foris Inc. to bring the innovative product to the US market. He also said: “This program speaks directly to The Entrepreneurial Bank spirit that we have and seek to promote. The MCO Visa Card is quite unique and provides a bridge between traditional banking and cryptocurrencies in a safe and compliant way.” What Is the MCO Visa Card All About? The MCO Visa card has already been launched in Singapore. It is a prepaid card made from high-end metal, free from any monthly or annual fees. It also provides airport lounge access, no-fee ATM withdrawals, tap-and-pay functionality, and it also comes without foreign transaction fees. Interested people can make reservations on the Wallet & Card app, where there is a simple three-minute process for onboarding customers, including ID verification. Customers can also use the wallet to manage the use of their cards, keep track of transactions and freeze or unfreeze cards as needed. Over 100,000 of these cards have already been reserved from around the world, and’s entry in the US means that several more reservations could be on the way. The Wallet app also adds more value to the cards as it allows users to buy, sell and store their cryptocurrencies easily. All the transactions are done in fiat currency denomination, which helps users to convert their crypto holdings into a dollar-amount quickly, without incurring any exchange fees. The US Will Receive MCO Visa Cards, the New Crypto.Com Cards Will Be Issued by Metropolitan Bank was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a month ago

Shout-out to everyone who has tried Metal Pay and left us a ...

Shout-out to everyone who has tried Metal Pay and left us a review on the App Store! ❤️😍 #crypto #blockchain…

a month ago

Canadian Bank Announces Digital Safety Deposit Box for Crypto Exchanges and Investment Funds

VersaBank, formerly Pacific & Western Bank of Canada, announced one of its subsidiaries has completed beta testing for its digital safety deposit box and is now entering the commercialization phase, which will include the offering of digital safe keeping as well as multi signature services for cryptocurrency exchanges and crypto-based investment funds. Canadian VersaBank Announces Digital Safety Deposit Box for Cryptocurrency Holdings The testing phase of the company’s digital safety deposit box was conducted to ensure the product’s design would meet the specific requirements of cryptocurrency exchanges and crypto funds. Target clients tried VersaVault’s capabilities, including its technologically advanced digital, cyber-security solutions, and privacy settings. David Taylor, President and CEO of VersaBank and its subsidiary, VersaVault, claims the product cannot ‘drill’ into a client’s digital safety deposit box nor can look inside, giving full privacy to the customer. “I am just delighted with the successful results of our strenuous beta testing. While many are considering ideas and plans for a digital safety deposit box, we have designed and built it, and are now commercializing a first of its kind service that provides our clients with the most sophisticated security and authentication technology available globally, in which our clients enjoy absolute privacy. The VersaVault will now begin rolling out services to cryptocurrency exchanges and crypto investment funds.” VersaBank, which is Canada’s smallest bank by assets, planned to have the digital vault operational by June in order to offer the service to customers across the globe. The bank first reached out to cybersecurity expert Gurpreet Sahota from BlackBerry. Sahota led software engineers in designing the vault, which is stores cryptocurrencies on computer servers around the world. Calling physical safety boxes obsolete, chief executive David Taylor says VersaVault fulfills the same goal, which is safety and security, but for today’s needs. “Most people’s really valuable assets are contained in some sort of digital format, whether it be a deed or a contract or a cryptocurrency.” The bank has no back door to open up the vault, Taylor claimed. The bank first went digital when it adopted an electronic branchless model in 1993 and became the world’s first branchless financial institution in 1993. The safety deposit box announcement puts the Canadian bank again in the lead, but other players will be competing for customers. Goldmoney Group, a Canadian-based precious metal custodian, has expanded its business to include secure storage of Bitcoin in early 2014. Its new firm, Netagio, will be responsible to hold custody of clients’ digital assets. Image from Shutterstock The post Canadian Bank Announces Digital Safety Deposit Box for Crypto Exchanges and Investment Funds appeared first on NewsBTC.

a month ago

@philipcpb There is no mechanism to circulate MTL back into ...

@philipcpb There is no mechanism to circulate MTL back into the PoPP pool. After the 26.3 million MTL is distribute…

a month ago

Digital Bank Revolut Surpasses 3 Million Customers

U.K. startup Revolut has announced that its customer base has surpassed three million users. The fintech platform, which has quickly become a viable online alternative to traditional banking, was established in 2015. It currently offers payment and exchange services for a growing number of fiat currencies and cryptocurrencies. Also read: Huobi Opens in Russia, Plans Startup Accelerator and Mining Hotels Fintech Startup Defies Skepticism The company marked the milestone on Twitter: “Three years ago, banks and investors laughed at us. Today, we have signed up three million customers and no one is laughing now. Thank you!” The announcement came about three months after Revolut launched a new debit card that offers support for some of the leading digital coins. Revolut Metal is the platform’s premium service. For a monthly fee of €13.99 (less than $16), users can get a free U.K. current account and an Iban account for euros, with unlimited exchange in 24 fiat currencies. The new card also offers access to five cryptocurrencies — bitcoin cash (BCH), bitcoin core (BTC), ethereum (ETH), litecoin (LTC), and ripple (XRP) — as well as the ability to spend over 150 currencies at the interbank exchange rate. The contactless Revolut Metal card comes with fee-free ATM withdrawals of up to €600 per month (over $670). According to the product page, the online banking startup also offers cardholders cash back on all their payments and purchases — up to 0.1 percent within Europe and up to 1 percent elsewhere. The launch of the exclusive card, which supports digital assets and can be used anywhere that Mastercard is accepted, has likely played a role in the expansion of Revolut’s customer base. There are very few other options on the market in the European Economic Area matching the services offered by the U.K. company. Plans for Expansion to Other Continents Revolut’s platform is currently available to residents of the following European countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the U.K. The company plans to enter markets outside Europe as well, including North America (U.S. and Canada) and Australia. The British startup with Russian roots also plans to operate in the Russian Federation. In June, Revolut announced a partnership agreement with Qiwi, the country’s leading payments provider. Russian users will be granted access to Revolut’s services via Qiwi’s online banking infrastructure. It has been reported that in Russia, Revolut will initially only provide financial services to private individuals. At launch, they’ll be able to install the company’s online banking app and order a free Visa card with support for multiple currencies. Revolut is likely to face some competition. Oleg Tinkov, the founder of a Russian project offering similar services, said at a recent fintech forum that there’s no reason for the U.K. startup to go to Russia. The holders of the Tinkoff Black card can already open accounts in 30 currencies and take advantage of favorable exchange rates. What Tinkov didn’t mention, as noted by news outlet Bitnovosti, was that his platform does not support cryptocurrencies. Revolut’s Russian-born founder and CEO, Nikolay Storonsky, responded: We are not going to abandon our plans ... Large players see us as a serious competitor. They try to copy our products and break down into emotions in our presence. Storonsky, whose company raised $250 million at a valuation of $1.7 billion this past spring, also recently commented on the possible influx of institutional investors into the cryptocurrency space. The entrepreneur voiced skepticism over these expectations, as such players have not expressed much interest thus far. “I just don’t think banks will catch up,” he said. One thing Storonsky’s unicorn startup has been criticized for is that its platform does not support transfers of cryptocurrencies to other wallets. Responding to another suggestion to introduce the feature in the comments below the “three million customers” tweet, Revolut admitted that it does not have any immediate plans to do so. However, it promised to pass the feedback over to its development team. Do you think Revolut will expand its set of services related to cryptocurrencies? Tell us in the comments section. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Digital Bank Revolut Surpasses 3 Million Customers appeared first on Bitcoin News.

a month ago

Bitcoin Mining Company cuts costs by Using a Former Metal Mine in Norway

Northern Bitcoin claims to have significantly cut mining costs by using a former metal mine in Norway. Bitcoin mining produces a lot of excess heat and the mining rigs require a temperature regulated environment to prevent the equipment from overheating. The company claims that it has brought mining costs as low as $2,700 per Bitcoin which is amazing when compared to Norway’s average mining cost of $7,700 per Bitcoin. This rate also competes against Saudi Arabian and Chinese averages of $3,100 per Bitcoin. In the near future, Northern Bitcoin hopes to mine 100 Bitcoin per day and the company is also planning to launch its own mining pool. (RS)

a month ago

How To Mine Bitcoin More Efficiently...Use An Actual Mine in Norway

Bitcoin mining is unquestionably a costly business, but Northern Bitcoin claims to have cut expenses by using a former metal mine in Norway. Innovation Station Bitcoin mining is unquestionably a costly business, both in financial and ecological terms. But Northern Bitcoin claims to have cut their price and energy costs by utilizing a former metal mine in Norway. Depending on what you read, bitcoin mining is either inexorably advancing our planet towards its inevitable doom [N.B. this link has been given as a tip today, so perhaps change to Bitcoinist link if somebody writes it up?] , or pretty good value compared to gold and the banking industry. Whatever your personal viewpoint, it would be hard not to agree that greater efficiency would be a definite improvement. Mining companies are constantly scouring the world for the cheapest electricity and favorable climate conditions. Clearly, the motivation for this is to maximize profits, but some of the solutions have positive ecological ramifications too. Icelandic innovators are repurposing surplus energy from other industries, then passing along the excess heat generated by the mining rigs. Hey Boss, I’ve Got An Idea It almost seems like a no-brainer. If you are looking for a chilled location to mine bitcoin, then a large underground network (let’s say, a mine), might seem like an ideal place. The Lefdal Mine in Norway, adds icy fjord water as a cheap cooling system, and renewable hydroelectric and wind power for cheap electricity. Russia is another country where cryptocurrency mining could become a viable industry due to its cold climate and cheap electricity in some regions. Such favorable conditions led to its launch as a data center last year, following almost 10 years dormant after mineral mining ceased. Aside from the activities of Northern Bitcoin, the site’s data storage facilities have also attracted big names such as IBM. The Bottom Line Northern Bitcoin claims that its mining costs can be as low as $2,700 per bitcoin. This compares well to Norway’s average mining cost of $7,700 each, which is above the current bitcoin value 00. It is also competing against the Chinese and Saudi Arabian averages, of $3100 per bitcoin. Australia comes top of the mining cost chart, at almost $10,000 per coin. Northern Bitcoin hopes to eventually mine 100 bitcoin per day at the facility and is in the process of launching its own mining pool. Will bitcoin mining competition boost demand for renewable energy? Share your thoughts below! Images courtesy of Shutterstock The post How To Mine Bitcoin More Efficiently...Use An Actual Mine in Norway appeared first on

a month ago

What's coming next for Metal Pay? All is revealed in the las...

What's coming next for Metal Pay? All is revealed in the last few minutes of our CEO @MarshallHayner's interview wi…

a month ago

@davecraige Dave, we use @Plaid as a proxy between your bank...

@davecraige Dave, we use @Plaid as a proxy between your bank login details and Metal Pay. This information never go…

a month ago

Bitcoin Beating Stock Market, Continuing the Victory from Last Month

Currently, around $6,400, Bitcoin is maintaining stability while beating the stock market in continuation of last month. Though Gold surged as global markets got hit in October, this month is seeing a drop in its prices, for now, Bitcoin is yet again going steady with a few oscillations. What chance does it have now? Bitcoin Outperforming Stock Market Bitcoin might be down about 68 percent at the moment at $6,414 registering 24-hours gains of 0.04 percent. Ethereum (ETH) and XRP are also in the green by a small margin. The world’s leading cryptocurrency is managing the daily trading volume of $4 billion with a market cap of $111 billion. If we take a look at the past 2 months, Bitcoin has oscillated between $6,200 and $6,900. What has been characterized as a highly volatile market has been recording the lowest volatility for the past 18 months now. A number of positive news have made it to the market such as Nasdaq’s parent company ICE announcing the launch of Bakkt, Fidelity investment coming up with its own digital asset company, Universities like Yale investing in crypto market along with a number of other bullish news that failed to make an impact on the price of cryptocurrencies. However, despite little movement in Bitcoin prices, it has outperformed the stock market. Today, from Europe to Asia, stocks are yet again on the decline. And with US central bank suggests plans to increase the interest rates, global stocks are taking a hit. Last month has been a pretty bad one for the global stock market. October saw Bitcoin sliding about 3.67 percent. The price, however, moved around $6,500 only. As Bitcoin dropped down, altcoins fall harder, hence the crypto market as a whole saw a bigger rout of about 8.39 percent. Meanwhile, the S&P 500 Index lost 7.28 percent of its value. Oil prices are also pushing into bear territory as with a negative growth, crude oil WTI saw red by 13.27 percent. But the US 10 year bond market surged by 2.24 percent. The US and China trade war has been one of the reasons that fueled the stock market drop. But the primary reason has been attributed to the long-running success of the stock market that is imminent to stop and crash as the economy and the market can’t handle it anymore. If we take a look at Gold, the hedge against these adversaries, it has been predicted to rise as the traditional market registers rough times and it did. The price of the yellow metal went from $1,189 to about $1220 by the end of last month. What are the chances? However, unlike the first time when the stock market crashed and bitcoin prices also slumped, the next time Bitcoin did manage to hold its greens. Though Bitcoin didn’t manage to rise during the onslaught on the traditional market as gold did, Bitcoin maintaining stability is a positive sign. After ending the October on a surge, Gold has been somewhat on a constant decline during November, till now at $1,209. The stronger dollar is affecting gold prices as well. Bitcoin, however, is trying to maintain a straight line. Moreover, experts like Morgan Stanley and Goldman Sachs have warned off a coming market collapse triggered by rising interest rates and slowed growth. Even International Monetary Fund (IMF) has issued a warning that this collapse will be far worse than 2008’s financial crisis. With only a decade to its name, Bitcoin is relatively new to the market. And its low liquidity along with interest from institutional investors while the traditional stock market collapse predicted to be impending, it can’t be told if Bitcoin will be able to emerge as a winner but it can surely make its presence known. The post Bitcoin Beating Stock Market, Continuing the Victory from Last Month appeared first on Coingape.

a month ago

You can do this with Metal Pay! ...

You can do this with Metal Pay!

a month ago

VanEck’s Chief Strategist Eyes Multi-Billion Dollar Investment in Bitcoin ETF

The launch of the first Bitcoin exchange-traded fund (ETF) could witness the space attracting as little as a few billion dollars, predicted Gabor Gurbacs. The director of Digital Assets Strategy at VanEck made the bullish prediction during an interview with CNBC Crypto Trader hosted by Ran Neuner, while explaining the possible outcomes from a successful Bitcoin ETF launch. He acknowledged that there would be a likelihood of institutional dollars coming into the Bitcoin industry via securities, mainly because ETFs will be better prepared to maximize investor protection and minimize counterparty risks. “Right now, 90 to 95 percent of the digital assets space is retail. So people invest via trading platforms that offer low securities and safeties. Investors are not used to it,” Gurbacs explained. VanEck Has the Best Chance The US Securities and Exchange Commission (SEC) has rejected a total of 9 Bitcoin ETF applications till date citing investor protection. Only the ETF application filed by VanEck-SolidX duo has been allowed for a review, the response to which is likely to arrive by December 29 this year or February 1 the next. Observers believe that VanEck, an experienced investment management firm with a longstanding professional relationship with the US regulators, has taken care of all the concerns presented by the SEC. It has led speculators to believe that investors will jump at the opportunities to invest in full-insured physical Bitcoin contracts, driving the market cap to its all-time high. Gurbacs said that the new safety around the bitcoin financial instruments would bring it more in line with conventional ETFs. A Gold ETF, for instance, has the same security covers that would be coated on the upcoming Bitcoin ETF at VanEck. Given that the SEC has approved the former already, the same can be true for the latter as well. “Our Gold ETFs are already in a few billion dollars range,” he added. “There are Gold ETFs in $10 billion range as well. I wouldn’t be surprised if a Bitcoin ETF gets in a few billion dollars range.” Market Manipulation The market manipulation of the underlying Bitcoin spot market has been one of the major catalysts behind the SEC’S ETF rejections. Gurbacs cleared that every other market in present is seeing some level of manipulation, citing a JP Morgan trader who was manipulating the commodity and precious metal markets for seven years. Moreover, the Vaneck strategist cleared that the SEC had no jurisdiction to regulate spot markets; it lies with the Commodity Futures Trading Commission (CFTC). Adding further, Gurbacs explained that they have introduced institutional-grade security measures, starting with immutable pricing sources coupled with market standard tools that would reduce manipulation. “If there is market manipulation, there’s a concern. We’ve done everything we can,” he said. Observers believe that VanEck, an experienced investment management firm with a longstanding professional relationship with the SEC, has taken care of all the concerns presented by the US securities regulator. The ETF review is now expected to go through the regulatory process without a dent, eventually leading to a launch on March 1 next year. The post VanEck’s Chief Strategist Eyes Multi-Billion Dollar Investment in Bitcoin ETF appeared first on NewsBTC.

a month ago

Are Bitcoin Exchanges ‘Immature’?

An old-school technology company which was founded ten years before the Bitcoin white paper was released it now looking to help today’s cryptocurrency trading platforms mature. Based in the capital of Sweden, Cinnober mainly provides tech solutions to traditional stock and commodity exchanges around the world. However, this year it has seen a few deals with crypto startup. The most recent one is the Bitstamp exchange which announced this week that it will be the first in the space to use the vendors TRADExpress platform, alongside the likes of the London Metal Exchange. It’s likely that this won’t be the last crypto exchange to do so. Cinnober says that it’s looking for other potential partners in the market and sees about twelve that would be perfect fits. The leader of Cinnobers cryptocurrency and blockchain division, Eric Wall stated in a recent interview that: “The most suitable ones are those who are looking to participate in the transformation that the industry is going through. We can serve retail-only focused cryptocurrency exchanges, but the ideal customer for us is the one that is looking to cater more heavily to institutional investors.” Getting institutional traders as clients will be a vital part for cryptocurrency exchanges to carry on. Wall thinks that this will require significant adjustments saying: “Cryptocurrency exchanges currently are extremely immature from the traditional financial markets perspective. Many of them lack basic knowledge of how to operate robust and reliable financial markets.” Especially looking at attracting more investors, crypto exchanges should provide the same functionality as traditional stock and commodity exchanges do. As Wall says, adding in trade compression, netting and clearing mean that cryptocurrencies can be traded like a typical financial asset. With crypto exchanges, they are typically operated on a pre-funded basis, only allowing users to trade as much as they have on their accounts, while traditional financial exchanges use cleared trades when customers maintain collateral deposited with a clearinghouse. Wall continued to say: “Right now the cryptocurrency exchange market is very inefficient as there are no clearing technologies and clearing houses in place. We can help a cryptocurrency exchange become a real exchange that has a clearing module, so trading is more efficient for institutional investors.” What are your thoughts? Let us know what you think down below in the comments! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Are Bitcoin Exchanges ‘Immature’? appeared first on Crypto Daily™.

a month ago

New Study Finds Bitcoin Mining Consumes 3 Times More Energy Than Gold

According to researchers from the Ohio-based Oak Ridge Institute, the energy consumed to mine Bitcoin is three times more than the energy consumed to mine gold. 17 megajoules of energy is required to mine $1 worth of Bitcoin, while only 5 megajoules is needed to mine $1 worth of gold. The only metal which consumes more energy than Bitcoin is aluminum. Other major cryptocurrencies also need more electricity than gold. Monero requires 14 megajoules, while Ethereum and Litecoin require 7 megajoules. Bitcoin (BTC) is priced at $6,479.44, losing 0.86% in the last 24 hours. (VS)

a month ago

Colorado Now Has a Crypto-Friendly Governor

The Midterms are over, and the Blue wave wasn’t quite as deep as Democrats hoped. But, while political squabbling has no end in sight, cryptocurrency came out several steps ahead. Blockchain-friendly candidates scored major victories in both parties. On the right, Arizona’s David Schweikert will return to his Congressional seat, and Greg Abbott—whose campaign accepted Bitcoin donations—was re-elected Governor of Texas. But, perhaps most impressive of all was the election of a progressive Democrat, with a promise to turn Colorado into a center of blockchain innovation. The word ‘politician’ originates from the Greek root polis, but supporters of the new Colorado governor say that Jared Polis is nothing like a typical politician. Prior to public service, Polis founded not one, but three tech startups, two of which reached valuations in the hundreds of millions. While in Congress, Polis was a co-chair of the Congressional Blockchain Caucus, and pushed back against anti-Bitcoin hysteria with a satirical proposal to abolish the US Dollar. And Polis’ actions have shown that his words aren’t just lip service. As a candidate, his gubernatorial platform outlined five measures “to establish Colorado as a national hub for blockchain innovation in business and government,” including measures to develop the legal and financial frameworks to foster blockchain development. Blockchain Is “A Winning Issue.” The results were hailed as a success by leading figures in the crypto industry, many of whom are still stifled under the pressure of twentieth-century regulations.“I joined the cryptosphere in 2009, when enthusiasts were attempting to use bitcoin to buy pizzas,” said Metal Pay CEO Marshal Hayner, from San Francisco. “Since then, the conversations surrounding cryptocurrencies have migrated from internet message boards to Capitol Hill. “ That enthusiasm was reprised throughout the cryptosphere. “It is refreshing to see blockchain and cryptocurrencies as one of the real winners in American politics,” said Zach Warsavage, Elastos’ representative in North America. “With Jared Polis becoming the next governor of Colorado, it is clear that bringing crypto to the mainstream can be a winning issue, and I expect to see it as a topic of discussion in the upcoming weeks.” It’s also a win for the progressives in the cryptocurrency movement, who until now have been overshadowed by free-market spokesmen like Bob Goodlatte, David Schweikert, or Ron Paul. The election of a kombucha-drinking, pot-legalizing, anti-war, openly gay governor on a crypto-friendly platform shows that decentralized money and technological innovation can be liberal positions, as well. Polis won’t be the only cryptonaut on the Left - California’s New Democratic executive, Gavin Newsom, has been hodling since 2014: Hey @jaredpolis, thanks for leading the way. My mission? To raise more #bitcoin than you. Game on? — Gavin Newsom (@GavinNewsom) May 20, 2014 As for Brad Sherman—well, he got re-elected, too, proving that nobody got everything they wanted last night. The author has investments in Bitcoin and other digital assets. The post Colorado Now Has a Crypto-Friendly Governor appeared first on Crypto Briefing.

a month ago

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