Nasdaq CEO Is Bullish About Bitcoin

Just before the World Economic Forum started at Davos this week, the President and CEO of Nasdaq, Adena Friedman called the invention of crypto “a tremendous demonstration of genius and creativity.”
The company [Nasdaq.inc] was founded in 1971 and owns the Nasdaq stock exchange, which is the second biggest stock exchange in the world by market capitalisation as well as the Nasdaq Nordic, Nasdaq Baltic and “several US stock and options exchanges.”
The CEO of Nasdaq discussed cryptocurrencies in a recent article she posted on LinkedIn with the title “New chapters in innovation and disruption will be written in 2019″.
To start off the article, Friedman said that she could “see several trends that will continue to shape our markets and the broader economic landscape in the year ahead.” With this in mind, we’re going to take a look at the CEOs article and some of the key references she makes to cryptocurrencies.

“With several thousand competing cryptocurrencies vying for investor attention, the world of ‘crypto’ has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.”

She continues to say that there will be two outcomes next:

Either “the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet).

or

The ” invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).”

Friedman admits it is difficult to ignore the mass of investors and global investors that have flooded in over the past few years. Continuing, she says “the invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.”
One could argue that there are two main parts to bringing in practical utility and more stable value of governance and clarity “both of which are antithetical to the original intent as a decentralized, ungovernable global currency.”

Freidman goes onto say that there is a level of fairness and transparency with exchanges “and without some level of oversight and regulation, it is not possible to demonstrate a level of transparency and fairness that will build trust.”
Adding on to this, Freidman says:

“At Nasdaq, we are working to help cryptocurrencies gain investors’ trust by offering our technology for trade matching, clearing, and trade integrity to start-up exchanges. We have also invested in ErisX, an institutional marketplace for cryptocurrency spot and futures.”

Even though there is a lot of hype surrounding 2019 to bring something positive to the persistence bear market in the cryptocurrency space, at Nasdaq, they believe Bitcoin and altcoins “will have a role in the future.” But it’s role will all rest “on the evolution of regulation and broader institutional adoption.”
You can read the full article here.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

Ripple Partners With Prestigious Chinese University

One of the biggest names in the crypto space is Ripple. The firm is well-known for making new connections and partnerships almost on a weekly basis and now they are going to be teaming up with the Institute for Fintech Research, Tsinghua University (THUIFR) in order to launch a new Blockchain Technology Research Scholarship Program (BRSP).
The Main Focus
The THUIFR was established by the Institute for Interdisciplinary Information Sciences, PBC School of Finance, School of Software and Law School at Tsinghua University in 2017.
THUIFR is committed to providing practical guidance and first-class research to the fintech industry in China.
As reported by blokt, the scholarship program on blockchain research will be focusing on the development of blockchain technology as well as global regulatory policies.

For those lucky students inducted into the program, they will be working on leading-edge research on worldwide policies and regulations in relation to blockchain technology. In addition to this, they will also get an opportunity to participate in multiple different events and corporate visits. The scholarship will only be available for top graduate students in China this year.
The Director of International Cooperation and Development, Ivy Gao spoke on the subject saying:

“BRSP aims to help students have a comprehensive view of the latest international regulations on blockchain technology, and most importantly, I believe, this program would greatly help with their future research or career in the field of blockchain technology.”

Ripple Supports
There are several prestigious universities that Ripple are working with from across the globe through its University Blockchain Research Initiative. With this in mind, the San Francisco crypto firm is looking to boost the support of innovation, technical developments and academic research in blockchain, cryptocurrency and digital payment sectors.
One Ripple employee, Emi Yoshikawa, shared the news about the THUIFR partnership through her Twitter profile. She said that Ripple will provide help for developing the next generation of blockchain talent in China. You can see the tweet below:

We @Ripple are excited to work with Tsinghua University Institute for Fintech Research (@THIFR3) and help develop the next generation talent for blockchain in China! #UBRI https://t.co/uamSSomaYa
— Emi Yoshikawa (@emy_wng) January 23, 2019
Eric van Miltenburg is the firms SVP of Global Operations. He says that Ripple is impressed with the Tsinghua Universities innovation approach to engage the youth leaders of the in the DLT space. Miltenburg continued saying, “The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative; we’re thrilled to support THUIFR in this endeavor and look forward to its launch.”
Source: Crypto Daily

What Makes Blockchain A Bigger Investment Than Bitcoin

For those lucky few that bought Bitcoin early, it proved to be a very wise investment after the price of the cryptocurrency went through the roof at the end of 2017 to reach, and surpass $20,000. Nevertheless, despite the big gains from Bitcoin, last year saw the crypto sink near the bottom to a low of $3,500.
There is a general thought process amongst crypto experts that Bitcoin won’t ever reach it’s all-time high ever again. Even so, the underlying technology in Bitcoin is blockchain which still offers a lot of promise for investors.
If you happen to be thinking about investing in blockchain then you should look outside of the infinite Initial Coin Offerings and buy into those that are exploring blockchain as something else other than digital currency.
Startups
There are a lot of startups out there and if you are considering making an investment then it is probably a good idea to turn to the experts for advice.
A lot of people have been counting their losses over the past year when the price of cryptocurrency sank to the lowest of the lows. Even so, venture capitalists have been looking into new ways to get in early on blockchain technology.

In fact, venture capital investment in blockchain and cryptocurrency-focused startups nearly quadrupled last year, meaning it climbed from a total investment of $1 billion to $3.9 billion.
In a similar way, the number of deals completed jumped from 211 to 384. Sequoia Capital’s $400 million investment in the coin miner-manufacturer Bitmain is also included in this. The $163 million raised by blockchain-based cloud computer developer Dfinity and the banking world’s $122 million investment in blockchain for business provider R3.
Several industries seem to be quickly turning to blockchain for making their operations smoother and more streamlined. Not only this but it can ensure transparency and improve security with many other uses. The startups and their technologies will become increasingly more demanding in the coming years too.
There are more than 40 industries which could benefit from blockchain, but for now, we will have to wait and see.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

Paris Fintech Forum 2019 – Will SWIFT Walk Away From Ripple?

The upcoming European fintech forum event to take place in Pairs calls for all the participation of all key players in the international fintech industry. The forum is to take place on the 29th and 30th January with huge payment processing companies such as SWIFT and Ripple expected to be there.
There will also be some selected number of speakers at the event including the CEO of Ripple, Brad Garlinghouse and the SWIFT CEO, Gottfried Leibbrandt. The two were both selected as speakers to discuss the future in the fintech industry. Rumours surfaced regarding SWIFT executives who have been getting shaky in regards to the participation in the upcoming event but not due to stage fright. Executives were apparently getting cold feet because of the continuous competition between the two companies.
Don’t be mistaken, this isn’t a ‘David and Goliath’ situation, it’s more like, ‘Goliath and Goliath’.
SWIFT has been a big player in the payment processing game and controlled more than 70 percent of the division’s payments. This was until Ripple got involved. The operations Ripple undergo are basically through blockchain technology which offers faster and cheaper means of cross-border payment processing. As reported by ZyCrypto, this places them in competition with each other, with SWIFT fighting not to lose ground to Ripple. Speculation came out months ago that the two would shake hands and get on with their business, but this never happened.

Even though the two fintech firms are competitors, it wasn’t so stiff until the CEO of Ripple publicly declared during his interview with Bloomberg that Ripple isn’t partnering with SWIFT but instead taking over from them. “What we’re doing and executing on a day-by-day basis is, in fact, taking over SWIFT.”
Things might have turned out differently though if SWIFT had adopted blockchain technology in time. There are so many banks and payment processors on the SWIFT network which are signing on with Ripple. It is natural if SWIFT executives aren’t ready to confront their fears just yet, but the time will come. Maybe at the European fintech forum.
Everything seems to be pointing to SWIFT being ready to feature in the upcoming fintech conference without making much noise.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

How Much BTC Was Processed In 2018?

Throughout last year, there was more than $3.2 trillion worth of Bitcoin payments processed on the public blockchain network.
The high on-chain transaction volume of the dominant cryptocurrency has demonstrated the efficiency of the asset as the cross-border payment method and as another way to exist settlements systems for payments on a global scale.
The Bitcoin vs Gold Debate
Ah yes, that old chestnut. It has been a common debate about whether Bitcoin is a more efficient version of gold. As reported by CCN, the two are compared as Bitcoin is a store of value and a medium of exchange. Even though both assets are unaffected by the performance of the broader financial market and are generally not in relation to traditional investment vehicles.
Nevertheless, the argument can be made that the leading cryptocurrency is a more efficient version of gold due to its ability to both works as a medium of exchange as well as a cross-border payment system.
In November last year, one of the biggest exchanges in the world, Binance sent $600 million with a $7 fee. This was a process of 107,000 Bitcoin being sent within 60 minutes.
For this kind of amount to be processing using gold or traditional financial services, third party service providers and regulators need to get involved. This can result in a stretched out process of dealing with paperwork and compliance related activities.

Because of how effective large transactions and cross-border transactions are being dealt with, this has allowed the Bitcoin network to reach a volume of $3.2 trillion in 2018. Recording a year-on-year median increase of just under 3 percent.
Analysts at Satoshi Capital Research wrote:

“Comparing Bitcoin’s network performance in 2018 to prior years: – Total trading volume: $2.2 trillion – Total Layer 1 transaction volume: $3.2 tn – Total change in transaction volume 2017-2018: -8.23% ($0.3 tn) – Median change year-on-year 2017-2018 for every day in the year: +2.91%.”

It’s worth noting that the huge transaction volume of Bitcoin doesn’t include the over-the-counter volume. This is said to be bigger than the volume of the exchange market as a whole.
Now that is insane.
What are your thoughts? Let us know what you think down below in the comments
Source: Crypto Daily

Binance CEO Believes BTC Is Oversold

2018 saw a lot of anticipated events take place where some key figures were guest speakers and so on. One of the first events of 2019 is the Binance Blockchain Week which is taking place in one of the most crypto-friendly places in the world, Singapore. With the event being led by Binance, the upstart’s C-suiters and foremost executives have made appearances at the conference, along with a subsequent ‘hackathon’.
Even though the talks form Binance’s Chief Financial Officer, Wei Zhou and his peers were greatly appreciated, the CEO of the exchange, Changpeng Zhao, himself sat down on the conference to give a keynote. As you would expect, Zhao is one of the crypto space’s biggest names and he did his best to prove why the industry is still on the rise and still relevant.

According to Ethereum World News, Zhao discussed the time of 2017’s humongous bull run and the persistent downtrend that followed it which is still continuing to this day. The Binance CEO highlighted that at the end of 2017, we saw Bitcoin “overshoot” itself, with asset valuations quickly becoming well-overextended. He noted a lot of the bull sentiment could be put down to the massive amount of hype and the fear of missing out on a massive opportunity that consumers experienced along with the mass of questionable projects.
A graduate from Princeton University in the US, Murad Mahmudov has got big dreams to launch a crypto-focused hedge fund and recently touched on the topic. Speaking with a former institutional investor Tone Vays, is now a hardcore Bitcoin fanatic. Mahmudov added on to Zhao’s comments by noting that a majority of altcoins including Ethereum, EOS, XRP were overvalued in 2017’s parabolic surge.
Mahmudov’s comments aside, Zhao purportedly went on to say that digital currencies are currently are being massively oversold and could be in for an eventful recovery. 

“Speaking in a keynote, the industry insider explained that the current bear market has been “overshot,” indicating that he believes assets have fallen too far from their peaks. Backing his claim, CZ, a former Bloomberg employee, noted that there’s more talent in this industry than ever before, adding that the growing number of bonafide conferences and blockchain events is comforting.”

What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

TRON CEO Wants To Prove Crypto Isn’t A Scam

The founder of TRON, Justin Sun is determined to prove that cryptocurrency isn’t a scam despite vocal and passionate protestations by haters of the space.
With this in mind, Sun recently hired a former employee of the SEC to be the first compliance director for the blockchain platform supporting smart contracts and high throughput, TRON.
Sun is a believer that the tailored regulation will boost the mainstream adoption of cryptocurrencies by getting rid of the con artists.

Sun recently sat down with VentureBeat and said, “we’re ready to fully embrace regulation here. We’ve just hired our first head of compliance, who previously worked for the SEC for almost eight years.” The TRON CEO continued saying:

“We want to make sure we’re fully regulated in not only the United States, but also China, Korea, and Japan in the future. Blockchain is like a new operating system. We believe the world will need to embrace the blockchain. And we’re very optimistic about how it will be regulated.
The SEC, I think, also sees the blockchain as a good opportunity for innovation in the United States. I’m hoping that this year the SEC will license and regulate coin-based exchanges. This year will be the year of full regulation.”

Sun said this while attending the NiTRON Summit in San Francisco on 18th January. During the conference, TRON’s founder shared the stage with NBA Hall of Kobe Bryant, where they both talked about the challenges of entrepreneurship. You can see part of the footage of the two on stage here.
As reported by CCN, the day after the conference, Sun tweeted a photo of the two together backstage holding a TRON mascot wearing an LA Lakers jersey which you can see below:

It was amazing to talk about our shared values. Let’s continue to wake up every day doing the things we love! @kobebryant #TRON #MambaMentality pic.twitter.com/WI6m6OvkeK
— Justin Sun (@justinsuntron) January 19, 2019
Like most people in the crypto space, Sun wants to see the market take off and get fully adopted by the mainstream.
One of the ways that Sun aims to do this is by doing BitTorrent token on the Binance Launchpad. The peer-to-peer file sharing protocol says that there are more than 100 million users in just under 140 countries. It was back in July when Sun acquired BitTorrent for $126 million. The BTT token is a cryptocurrency linked to the BitTorrent platform
What are your thoughts? Do you agree with Sun’sviewpoint on mainstream adoption? Let us know what you think down below in the comments!
Source: Crypto Daily

Wyoming To See Bitcoin In The Same Class As USD

One thing that we are all looking forward to seeing is whenever Bitcoin and cryptocurrencies finally get adopted by the mainstream. Every day we seem to be getting that little bit closer to it and today is no exception. In what could a big step towards the widespread usage and adoption of cryptocurrency, the US State of Wyoming has brought in crypto legislation in the House which looks to bring legal clarity to the still relatively unknown space.
With this legislation, the US state aims to make itself a haven for such cryptocurrency and blockchain firm by solidifying itself as a ‘forward thinking’ place which is ‘responsive’ to the needs of a growing industry. If the bill gets passed, it would be synonymous with how nations such as Malta and Estonia have realised the full potential of the space to emerge pacesetters. Speaking on the matter, Senator Ogden Driskill of Wyoming 1st District said, “the legislation, all taken together make Wyoming the Silicon Valley of Blockchain and Cryptocurrency of the nation and arguably—the world.”

The Western US State has already expressed its keen interest in the crypto space by inviting blockchain firms to the state by passing two bills to regulate the crypto space on 12th January this year. One of the biggest cryptocurrency exchanges in the country continued its business in the state last year after a long hiatus away.
There are some key features in the new legislation which have excited many faces in the cryptocurrency business. For example, the bill offers legal status to digital currencies such as Bitcoin, recognising peer-to-peer transactions of cryptocurrencies and therefore it is being treated in the same as the fiat US dollar.
On top of all this, the bill further cements the recognition of digital assets by authorising banks to supervise such assets and even take them under custody if they need to be.
The passing of this bill offers a lot of new hope for many in the crypto and blockchain industry who have been left disappointed by the lack of clarity on the government’s parts. If the bill is passed, it will form the framework for any future legislation that might be passed on the topic.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

Is Milne Right? Is Bitcoin The Only Sure Thing?

Cryptocurrency investors and traders from around the world are eagerly awaiting the next bull run to occur. But the development of the next bull run will all depend on which public blockchains will become the defining names of the industry. Alistair Milne is an investor and entrepreneur based in the United Kingdom who shares the same sentiment.
Milne is well known on Twitter for his bullish statements about Bitcoin and other cryptocurrencies. He has even said that any new price highs for the leading cryptocurrency should perform better than that of 2017.
In a thread over the weekend, Milne said, “the probability that Bitcoin matches its ATH [all-time high] price again and doesn’t then continue past it seems very low. Each wave of adoption is an order of magnitude bigger than the last.”

On average, the biggest digital currency is still trading eighty percent lower than it was at its peak in December 2017 when the token reached massive heights of $20,000 prior to a less than kind year to the cryptocurrency.
With a very consistent downtrend, there have been numerous accusation from some big players in the economics space that Bitcoin is well on its way to zero. A good example is Nouriel Roubini who argues this, but Milne protests this school of thought saying, “It takes time for sentiment to change. 30-50million [sic] people owning crypto is not the industry’s peak.” Milne goes on to say, “the next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the *only* sure thing”.
In addition to this, the UK based investor noted institutional investor interest and Bitcoin’s profile as gold version two in aiding the next round of adoption.
Back in December, the CEO of the Japanese fintech company and cryptocurrency exchange operator Quoine predicted that Bitcoin will hit all-time highs this year. As reported by CoinTelegraph, before this, the infamous investor, Michael Novogratz claimed the leading cryptocurrency could pass the one time $20,000 high by the turn of the decade.
In terms of price, Bitcoin has had a rough weekend dropping below $3,600 key resistance level. The leading crypto is currently trading at $3,578 after losing 3.29 percent over the past 24 hours.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

Bitcoin Sidechain Goes Under Trial After Japanese Approval

Crypto Garage is a blockchain development firm based in Japan and they have recently announced that they have gained regulatory permission to test out its settlement system using Blockstream’s Liquid Sidechain.
The blockchain development company originally claimed to be the first such finance project to receive a green light under the Japanese government regulatory sandbox scheme which will now conduct a 12-month pilot trial with a group of participating cryptocurrency exchanges.
The project is called Settlenet and uses Liquid as part of an arrangement allowing exchanges to issue stablecoins tethered to yen as well as trading against Liquid Bitcoin, Blockstream’s sidechain.
In addition to this, the feature also makes use of what are known as ‘atomic swaps’, which are the ability to make cross-blockchain transactions without manually having to convert the assets.
The blockchain development firm released a press release which wrote, “this will enable rapid, secure and confidential transfer of the crypto assets while eradicating counterparty risk. In addition, Settlenet will provide the regulatory authorities with the functionality to monitor any unlawful trade, including money laundering.”
Back in October, Blockstream released Liquid as the first public Bitcoin sidechain which was ready for production.

The integration came at quite an important time for Japan which has forged a permissive but strict regulatory environment for exchanges in particular, after there were several high profile hacks over the past year.
One of the biggest hacks in crypto history is that of Coincheck last January after the exchange lost a half a billion dollars to hackers. As reported by CoinTelegraph, the exchange has now recently announced that it has gained full regulatory licensing from the nations finance regulator, the Financial Services Agency.
Coincheck lost $530 million in altcoin tokens at the time and now the exchange joins the slowly increasing volume of officially sanctioned exchange serving the Japanese market.
In terms of price, Bitcoin once again suffered a loss over the weekend, dropping below the $3,600 key resistance level. The leading cryptocurrency is now worth $3,570 after a 4.31 percent drop over the past 24 hours leaving it with a market cap of $62,462,941,314.
What are your thoughts on this? Let us know what you think down below in the comments!
Source: Crypto Daily

Bitcoin and Oil: Not As Different As You Think

With everything going on in the crypto space over the past few months, the fate of Bitcoin could very much likely be that of oil. The leading cryptocurrency brings in a lot of attention on a daily basis and with it, demand. This isn’t just a digital currency, it is something that offers freedom and financial catches too.
The process that oil goes through is that same thing that Bitcoin goes through, mining. And right now it is a huge threat to the environment. There is a big percent of the world’s wealth which is held in the digital currency – with Bitcoin being in the front seat – and it has become a domineering product. According to the community led by Ethereum co-founder Vitalik Buterin, there is a chance for the crypto markets to achieve a thousand return in value in terms of long-term means.

2017 was a time when cryptocurrency almost became a household name since it was worth $20,000 a pop. As a result of this, the crypto value shot up from $200 million to $200 billion which is around 70 percent of the global wealth including gold, reserve currencies and other traditional assets.

“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

When the price of oil surges, this can have a serious impact on the world’s wealth volume and trade. As reported by ZyCrypto, from 2014 to 2016, there was a serious decline in the oil price and there was about a 70 percent drop in its price and when oil rocked the global wealth so does Bitcoin, a fluctuation in price affect the global financial state.
This year we have seen signs that suggest the price of Bitcoin will rise and continuously grow higher in the future. A lot of development is going on in the crypto space which will trigger off institutional adoption of blockchain technology. Thanks to the blockchain, we have Bitcoin and if we can get a mainstream audience to blockchain this will have a huge impact on the leading cryptocurrency in a good way.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

South Africa Introduce New Rules For Crypto Companies

Wallet providers and cryptocurrency exchanges alike will have to register with regulators under rules proposed by South Africa’s Central Bank.
In a consultation paper published earlier in the week, the South African Reserve Bank said that regulatory action on crypto assets need to be prioritised to protect consumers and investors by saying that consumers are left at risk due to the fact that “sellers of crypto assets are not regulated.”
Discussing the possible regulatory approaches which could be taken, and by noting the “reputational risk” which is in the headlights if mistakes are made, the central bank proposes walking a middle line between doing nothing and stringent regulation or a ban.
The Central Bank has said:

“At this proposed level, an official body places specific requirements on providers of certain services in respect of crypto assets, without setting predefined conditions for formal authorisation to provide crypto assets-related products or services.”

With this, the bank suggests that a “useful starting point” for regulating the space would be the start of a registration scheme for crypto asset service providers such as crypto wallets and cryptocurrency exchanges.

This follows on with a review of the current regulations and how they can be put in the context of crypto assets with possible changes and new rules to added in the future. And finally a review of the regulatory actions implemented at that points.
The Central Bank went on to say, “the phased approach, starting with the registration requirement, could lead to formal authorization and designation as a registered/licensed provider for crypto asset services operating in South Africa at a later stage.”
On top of all this, the bank also made a recommendation that the crypto assets should remain without legal tender status and shouldn’t be recognised as electronic money in its proposal. In the first quarter of this year, there will be a detailed process for registration which is expected to be published. As reported by CoinDesk, crypto entities that are registered will need to report any unusual cash transfers of $1,820 and above according to the rules.
Back in April last year, the South African Revenue Service said that normal tax rules are applicable to crypto earning. They can be treated under standard income tax rules but they might be liable for capital gains tax in some cases.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

Is Bitthumb A Prime Example Of The End Of Bitcoin?

As I write this, Bitcoin is losing the ground beneath its feet and there is growing pessimism about the future of cryptocurrencies.
There are some enthusiasts that believe that the Bitcoin bubble has already burst and they seem to expect the price of the leading cryptocurrency to go one of two ways. Either it could surge up to its all-time highs or it could drop further below its current predicament.
The price of Bitcoin was once at $20,000 but since then the leading cryptocurrency plummeted to lows of less than $3,500.
Once one of the biggest cryptocurrency exchanges in the world, Bithumb used to symbolise the Bitcoin craze of late 2017 but now it has recently shut down its branch in central Seoul.
An official from Bithumb said last week that the cryptocurrency exchange implemented the Gwanghwamun branch with its base branch in Gangnam Seoul to cope with the huge customer demand in a more efficient way.

With the decision, it spotted working at the Gwanghawamun branch on 11th January and relocated its two workers to the Gangnam branch. This leaves the crypto exchange operating in three locations, Seoul, Daejeon and Busan.
The official from Bithumb said that “the daily trading volume has now diminished to nearly one 30th compared to its heyday in December 2017. Now, there are not many new investors entering the crypto market. We have decided to integrate the two branches into one to improve efficiency.”
Bitcoin isn’t the only one to suffer such losses as the other two top three cryptocurrencies, XRP and Ethereum also suffered 90 percent declines in coin prices in comparison to their one time highs.
The US Federal Reserve Bank of St. Louis has said in a recent research note that too many more cryptocurrencies came about when Bitcoin was starting to take off. In fact, right now there are more than 3,000 digital currencies in the market.
One investor has said that many like him have lost their confidence in the coin prices for cryptocurrencies adding, “there is no doubt cryptocurrencies won’t enjoy a 2017 December rally. Not many investors in Korea now consider them as an investment source. Prices will remain at current levels.”
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

Is Bitthumb A Prime Example Of The End Of Bitcoin?

As I write this, Bitcoin is losing the ground beneath its feet and there is growing pessimism about the future of cryptocurrencies.
There are some enthusiasts that believe that the Bitcoin bubble has already burst and they seem to expect the price of the leading cryptocurrency to go one of two ways. Either it could surge up to its all-time highs or it could drop further below its current predicament.
The price of Bitcoin was once at $20,000 but since then the leading cryptocurrency plummeted to lows of less than $3,500.
Once one of the biggest cryptocurrency exchanges in the world, Bithumb used to symbolise the Bitcoin craze of late 2017 but now it has recently shut down its branch in central Seoul.
An official from Bithumb said last week that the cryptocurrency exchange implemented the Gwanghwamun branch with its base branch in Gangnam Seoul to cope with the huge customer demand in a more efficient way.

With the decision, it spotted working at the Gwanghawamun branch on 11th January and relocated its two workers to the Gangnam branch. This leaves the crypto exchange operating in three locations, Seoul, Daejeon and Busan.
The official from Bithumb said that “the daily trading volume has now diminished to nearly one 30th compared to its heyday in December 2017. Now, there are not many new investors entering the crypto market. We have decided to integrate the two branches into one to improve efficiency.”
Bitcoin isn’t the only one to suffer such losses as the other two top three cryptocurrencies, XRP and Ethereum also suffered 90 percent declines in coin prices in comparison to their one time highs.
The US Federal Reserve Bank of St. Louis has said in a recent research note that too many more cryptocurrencies came about when Bitcoin was starting to take off. In fact, right now there are more than 3,000 digital currencies in the market.
One investor has said that many like him have lost their confidence in the coin prices for cryptocurrencies adding, “there is no doubt cryptocurrencies won’t enjoy a 2017 December rally. Not many investors in Korea now consider them as an investment source. Prices will remain at current levels.”
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

What Investing In XRP Really Means

XRP is one of the most popular cryptocurrencies out there. Even though, a lot of investors know the difference between Ripple and XRP, there are still some people out there who think they are the same thing (which they definitely are NOT). So with this, today we’re going to go through the what you are investing in when you decide to go with Ripple.
Native currency
To start with, we’re going to go through the native currency of Ripple which is XRP which is sometimes referred to as Ripple due to its association with its parent company.
Currently, Ripple Labs is fighting against a number of class action lawsuits which claim the sale of the XRP token was promoted as security. The firm has denied the allegations and requested late last year that the David Oconer against Ripple Labs to be heard in Federal Court.
As a response to the common mistake and confusion, “XRP is the digital asset native to XRP Ledger. The XRP Ledger is an open-source, distributed ledger. Ripple is a privately held company.”

The XRP ledger is primarily used to record the ownership and transfer of the XRP digital token.
The token has fast settlement times in which Ripple claims that it achieves finality in around four seconds and can handle “1,500 TPS – a throughput on par with Visa and other card networks. This is because XRP was created specifically for enterprise use to provide liquidity for international transactions.”
Ripple as a company
The privately held company holds the minds behind the creation, deployment and development of assets and services such as XRP and RippleNet.
Two of the minds behind Ripple and its products is Jed McCaleb and Ryan Fugger. Eight years ago, McCaleb began working on a cryptocurrency which could get to consensus without the need for mining. As reported by Brave New Coin, since 2004, Fugger had been working on a monetary system which would be decentralised in nature and would facilitate the creation of a value system specific to a community. In 2012, McCaleb was working with the well-known financial technology investor and disrupter Chris Larsen which engaged Fugger with the idea of putting their ideas together to fill a hole in the market.
McCaleb and Larsen were later given full leadership by Fugger in the end with the private firm, OpenCoin being their next venture.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily