Bitcoin SV [BSV] block reorganisation: Network not reliable for payments, says BitMEX Research

Bitcoin SV [BSV] was in the limelight because of its touted large blocks, especially the 128MB blocks, highlighted by its spearheads. Just weeks after the feat, the coin’s blockchain was subjected to multiple block reorganizations as pointed out by a series of April 19 tweets by BitMEX Research.
The tweets indicated that on April 18, the exchange’s BSV node saw dual block reorganizations. BitMEX stated:
“First a 3 block re-organisation, followed by a 6 block re-organisation.”
Source: Twitter
BitMEX cited block 578639 as the location of the split, where the two competing chains were noticed. The tweet further stated that the exchange’s note kept track with the chain on the left until block 578642, following which it moved to the right. In the next hour, there was another jump to the left.
The research, however, contends that all the Transactions IDs [TXIDs] from the aforementioned fork migrated to the main chain, hence, double spending can be ruled out.
In light of this reorganization, BitMEX stated that the inference drawn can be that the BSV network cannot be relied on for payments, the block size touted to be too large to handle, and the network latency was too high.
With the BSV network incapable of handling a block of such a size, as the research indicates, their touted goals seem far-fetched. The cryptocurrency’s camp has maintained that their intention was to raise the default block cap to 512MB, with the same to be raised to 1-2GB in the future.
Jimmy Nguyen, one of the leads of the BSV project has even suggested blocks with no specified limits, with the same configured by the miners.
Block size apart, Bitcoin SV has been going through a tumultuous period off-late. The coin has been subject to a number of delisting announcements from top exchanges following the legal challenge mounted by its founders, which some have compared to “bullying”.
The post Bitcoin SV [BSV] block reorganisation: Network not reliable for payments, says BitMEX Research appeared first on AMBCrypto.
Source: AMB Crypto

Arthur Hayes talks about upcoming interest earning product for BitMEX, reveals other products in pipeline

The CEO and founder of BitMEX, Arthur Hayes, spoke on a Venture Coinist podcast and revealed future Bitcoin products that would allow users to earn interest by holding it, and the other plans of BitMEX.
Speaking about the product that will let users earn interest by lending their Bitcoin, Hayes stated that he was exploring, on a small-scale level, about making it work for Bitcoin. He stated:
“I want to create a future where the highest quality exchange and miners issue short term Bitcoin bonds to the ecosystem.”
He said that this would create a “credit curve” for Bitcoin and people could start natively borrowing it and create businesses using Bitcoin without having an outside currency exposure. He also added that this would create a “ubiquitousness of the use of Bitcoin and other cryptocurrencies” and that it would propel the crypto-space as a whole to a new level.
Hayes continued that he would work on it and hoped that he could come up with a test transaction to gauge the interest of the audience for the fixed income market. He said:
“And from a selfish perspective of BitMEX, the fixed income markets are much larger than the FX markets… so if we can start to trade interest rate derivatives on our native crypto credit curve, which is comprised of the best quality companies in the space and that’s really going to take our platform to the next level and help us achieve our goal of becoming the largest exchange”
Speaking about the next upcoming product, Hayes gave his insights into the ability to buy Nasdaq Indices with Bitcoin. Hayes added:
“We have funded a start-up in their seed around who I’m not gonna give out the name yet because I want to put undue pressure on them to deliver but hopefully, by summer of this year you will be able to use Bitcoin and purchase the S&P 500 and Nasdaq’s indices using Bitcoin.”
With the new feature, users can buy a swap for the available Nasdaq’s indices using Bitcoin and can sell their swaps to receive Bitcoin. Hayes said that he hopes to merge the crypto and the traditional markets. He also confirmed that this would be a side product and that it would be accessible through BitMEX.
The post Arthur Hayes talks about upcoming interest earning product for BitMEX, reveals other products in pipeline appeared first on AMBCrypto.
Source: AMB Crypto

BitMEX CEO talks about millennials and future of Bitcoin, BitMEX

BitMEX is one among the largest cryptocurrency exchanges which provide perpetual contracts for Bitcoin and offer leverage trading of Bitcoin contracts up to 100x. Arthur Hayes, the CEO of BitMEX, spoke on the Venture Coinist podcast and discussed his vision for BitMEX and how he saw the Bitcoin ecosystem evolve.
Arthur Hayes addressed the ads that they put out on the tenth anniversary of Bitcoin and the BitMEX Research department. He said that the bedrock of BitMEX and other cryptocurrency platforms rested on a well-functioning Bitcoin ecosystem. He added that since they did not have any banks or other financial institutions which needed to provide permissions, they relied on Bitcoin. He further added that it underpins their business.
Hayes elucidated,
“We are dependent on Bitcoin to allow us to be financial creative in the products that we bring to the market, so it behooves us to be supportive of the ecosystem, whether its educating people through research platform that has nothing to do with products that we offer and more to do with Bitcoin blockchain and other technological things that are happening in the ecosystem.”
Speaking about his vision for BitMEX, Hayes explained that millennials were comfortable with the digital form of money and that the demand for analog money would eventually fall. Hayes also added that the “baby-booming generation” in the 70s and 80s were coming into “asset-earning ages”.
Addressing Bitcoin and the current generation, Hayes said that “they were baby-booming generation” and that millennials and the Gen-Z would be the generation that would ride the shift from analog money to digital money. He continued that this was the reason why stocks and bonds were traded from 9-to-5 for five days and cryptos were being traded 24×7.
Moreover, Hayes said that the next generation, millennials or Gen-Z would be comfortable with digital assets in the near future and that Bitcoin would gain more traction in the next 10-20 years.
The post BitMEX CEO talks about millennials and future of Bitcoin, BitMEX appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] miners have accumulated a gross loss of about $2.2 million, says BitMEX research

The disagreement between Roger Ver aka Bitcoin Jesus and Craig Wright led to the contentious hard fork of Bitcoin Cash, which further split into Bitcoin Cash ABC and Bitcoin SV. According to BitMEX research, Bitcoin SV miners have suffered a massive loss of $2.2 million due to its price.
BitMEX tweeted on April 13, 2019,
“Based on our estimates and current coin prices, since the November 2018 split, Bitcoin Cash SV miners have accumulated gross losses of US$2.2m (a negative gross profit margin of 12%). This is accounting for mining electricity costs only”
Source: Twitter
A total of 265,388 Bitcoin Cash ABC coins have been mined since the hard fork on November 14, 2018. According to BitMEX research, the minimal estimated cost for mining the coins of Bitcoin Cash ABC [now known as Bitcoin Cash] was $31.9 million. The total mining revenue earned by BCH miners was $74.3 million.
For Bitcoin Cash SV [now known as Bitcoin SV], a total of 263,550 coins have been mined and the minimal mining cost was $20.7 million. However, total revenue earned from mining was a mere $18.4 million, which put the miners at an approximate loss of $2.2 million.
This is not the first time Bitcoin SV has incurred massive losses. BitMEX research reported similar findings after the hard fork on November 19, 2018.

Hash war estimated costs live update
Combined totals:* Estimated leasing fees: $8.1m* Combined gross losses: $6.1m
Even assuming cheap energy costs, SV miners have a negative gross margin of 353% & $1.4m of gross losses. @CalvinAyre @ProfFaustus cant keep this up forever. pic.twitter.com/CdTQm0vVf4
— BitMEX Research (@BitMEXResearch) November 19, 2018

Since the fork, Bitcoin Cash has been performing well, when compared to Bitcoin SV. Craig Wright’s move of filing lawsuits against Twitter critics has garnered a lot of negative attention from the cryptoverse, with many coming out in support for those at the end of these lawsuits.
This even caught the attention of Binance’s CEO, CZ, who tweeted,
“Craig Wright is not Satoshi.
Anymore of this sh!t, we delist!”
Such a move would be detrimental to the Bitcoin SV camp, and would further pull down the prices of the struggling cryptocurrency.
The post Bitcoin SV [BSV] miners have accumulated a gross loss of about $2.2 million, says BitMEX research appeared first on AMBCrypto.
Source: AMB Crypto

Cryptocurrency Exchanges With Derivatives in 2019: Exclusive Comments From 4 Industry Executives

CoinSpeaker
Cryptocurrency Exchanges With Derivatives in 2019: Exclusive Comments From 4 Industry Executives
Michael Budkov, marketing specialist, financier, and writer, shares exclusive comments from the representatives of four cryptocurrency exchanges that support derivative contracts and reflects on the market trends likely to develop in 2019.
Cryptocurrency Exchanges With Derivatives in 2019: Exclusive Comments From 4 Industry Executives

Continue reading at Coinspeaker
Source: CoinSpeaker

UK Bitcoin Trading Volume Hits $65 Million Average – Is London Going Big?

The last three months in the United Kingdom’s bitcoin market has been no less than amazing, indicated Skew.
The London-based data analytics portal revealed that the region developed a strong bitcoin trading traffic in the last 120 days. It shared a graph across its social media channels, reflecting upon the growing presence of traders in the UK’s crypto climate.
Per the chart, traders on BitMex were contributing approximately $65 million worth of XBT/USD trading volume every day over the past three months. The trading rate was higher between 1000 GMT to 1600 GMT, reaching up to $100 million ahead of the mainstream market’s closing hours.

Apparently you can't build a crypto trading business in the UK because all the traders are in the US and Asia.
average volume – in mln$ – on Bitmex xbtusd per hour of the day – UK time (last 120d)
Hard to disrupt the geographical location of London! pic.twitter.com/ipyhUzcINC
— skew (@skew_markets) February 28, 2019

Trading volume indicates the number of trades taking place across an exchange. BitMex, which lists both spot and derivative bitcoin instruments, became a central point for Skew to understand a market-wide bitcoin trading sentiment.
London a Crucial Geographical Location
Skew noted that London was a crucial geographical location to learn about the bitcoin volume trend. The late Asian trading hours easily melts into the GMT early session, and the late GMT trading hours also touches upon the US market open. Skew sarcastically pointed out that the US and Asia had more traders than the UK. But, it did not entirely mean that the region was not an attractive place to build a crypto trading business.
It very much explains why average trading volume around 1600 GMT was always higher than the rest of the day. That’s 11 am in New York, the global financial hub sniffing its second round of coffee. That’s also 9:30 am in Mumbai, home to one of Asia’s leading stock markets.
“Hard to disrupt the geographical location of London,” Skew commented.
Big Crypto Firms Entering the UK
The location could be one of the many reasons why some of the world’s leading crypto service firms have entered the UK recently. In March 2018, US-based Coinbase opened an office in London to penetrate the local and European crypto market. Binance, the world’s largest crypto exchange by volume and revenue, also expanded into the UK by launching Binance Jersey. Binance CEO Changpeng Zhao later said that they were registering more customers than ever from a region.
“Binance.je is overwhelmed with registrations. There is a backlog of KYC (Know Your Customer) verifications already. More resources are allocated to reduce it. In the meantime, we appreciate your understanding and patience. Just crazy! One thing we do ‘well’ is underestimating ourselves, and the market.”

https://t.co/THxfdd3RD2 is overwhelmed with registrations. There is a backlog of KYC verifications already. More resources are allocated to reduce it. In the mean time, we appreciate your understanding and patience. The registration prize is FIFO based, no worries. Just crazy!
— CZ Binance (@cz_binance) January 17, 2019

2019 also brought news of more expansions. US crypto exchange Kraken acquired Crypto Facilities, a London-based crypto futures platform, for a “nine-figure” sum.
Overall, the UK, with its lighthouse view of the world’s emerging crypto markets, is giving entrepreneurs a strategical advantage.  Skew’s trading volume analysis reflects an opportunity for expansion, especially when the growth of crypto markets have been extinguished by the patchwork regulatory climate of the US market.
The post UK Bitcoin Trading Volume Hits $65 Million Average – Is London Going Big? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC] Futures by the Chicago Mercantile Exchange Group reaches an all-time high in Q1 of 2019

Citing an internal e-mail, The Block reported that the Chicago Mercantile Exchange Group [CME Group] opened the doors for cryptocurrency investments and institutional investors in 2019 via its Bitcoin Futures.
Bitcoin Futures is a contract that will let customers bet on the future price of Bitcoin. CME Group first launched BTC futures in 2017 and according to the internal letter, the futures contract is taking off without a hitch. The internal e-mail read,
“Yesterday (Feb 19th) set a new record with 18,338 contracts traded, this is equivalent to 91,690 bitcoin or $360MN… Q1 2019 is off to a strong start, ADV has improved to 4,630 contracts (23,150 equivalent bitcoin), up ~13% from Q4 2018 while [open interest] rose to 4,076 contracts, an improvement of 21.5% over Q4 2018.”
In addition to the above, the CME Group has about 2,100 accounts and about 30 unique firms that have traded the contract. The e-mail stated,
“Institutional interest has gradually risen and the number of LOIHs (Large Open Interest Holders) has been holding steady around 43 holders since November. A LOIH is an entity that holds at least 25 BTC contracts.”
Further, CryptoCompare’s research for January 2019 shows a significant increase in the number of Bitcoin Futures contracts traded on CME when compared to its counterparts. The daily volumes increased by 20%, from $66.5M to $79.9M in January.
With the anticipation around the launch of Bakkt building up, it is expected that the prices of cryptocurrencies would shoot up. 2019 started with a rally, contrary to the general bearish trend that overtook the cryptocurrency market in 2018. In fact, the rally pushed the price of BTC to touch major resistance at $4000.
Another Bitcoin-related news that could affect the cryptoverse is the possible approval of the Bitcoin ETF proposal by the Securities and Exchange Commission [SEC].
The post Bitcoin [BTC] Futures by the Chicago Mercantile Exchange Group reaches an all-time high in Q1 of 2019 appeared first on AMBCrypto.
Source: AMB Crypto

BitMEX Research On Next Global Crisis: Retail Banking & Payment System Unlikely to be Under Threat

In its latest report, BitMEX research tries to answer the question of “When is the next global financial crisis going to happen?” In this report, BitMEX argues that the epicenter of financial risk has shifted from banks to asset management industry; and a “repeat of 2008” that is retail banking deposits and payment systems being under threat is unlikely. The fragility is rather most significant in corporate debt investment funds and unconventional debt investment vehicles.
It attempts to address the issue of Bitcoin and crypto enthusiasts and investors asking about the next crisis that is driven with the assumption that it will occur every decade or so, will have a positive impact on Bitcoin price and will result in questioning the integrity of banking and electronic payment systems. For Bitcoin price, it argues, if Bitcoin “does respond well in the next crisis (when liquidity is constrained), that will be a huge positive for Bitcoin and the store of the value investment thesis.”
Bank Balance Sheets in Developed Markets are Relatively Healthy
Over the last decade, bank management and regulators have operated in the shadows of 2008 and as a result, bank balance sheets and capital ratios have significantly strengthened. It further points out that main western banks have not expanded their balance sheets at all since the global financial crisis.
Growth in Leverage in the Asset Management Industry
The data show that, unlike the banking sector, the asset management industry has expanded considerably since 2008 and at the same time, leverage also appears to have increased.

New Corporate Debt Market Vehicles
The replacement of the role of the banks in the corporate debt markets has resulted in the rapid growth of interrelated, non-mutually exclusive investment structures. The non-bank mechanisms for providing corporates with financing viz. Collateralized Loan Obligations (CLOs), Leveraged Loans, Private debt deals, and Bond fund ETFs and mutual funds have grown considerably since the last global financial crisis.
Corporate Debt Markets Conditions
Corporate debt levels have increased considerably since 2008, with gross debt of Russell 3000 companies now totaling US$11 trillion, compared to just over US$8 trillion at the time of the last crisis. Corporations have taken advantage of the new investment products and low-interest rates to borrow money at record levels.

A Portfolio with a “Lesser Extent” of Bitcoin
Banks are more crucial to the financial system and society than asset managers, mentions the report and if asset managers come under pressure, retail and corporate deposits should be safe. This means the coming crisis could be less intense than in 2008. However, the “potential for government intervention to mitigate the impacts of the crisis may be more limited than in 2008.”
The data do not seem to suggest that we are necessarily right on the precipice of a major crisis, states BitMEX Research, “it could be several years away.” It concludes with the advice to adjust a portfolio with long-dated corporate bond ETF, hedge funds specializing in volatility, VIX calls, gold, and “maybe to a lesser extent, even Bitcoin.”
The post BitMEX Research On Next Global Crisis: Retail Banking & Payment System Unlikely to be Under Threat appeared first on Coingape.
Source: CoinGape

BitMEX Released ‘Notice of API Timeouts 8 February 2019′

BitMEX Crypto derivative trading platform has released a report on ‘recent inconvenience caused’ due to slow API responses. According to the report, the trading platform has experienced ‘API Timeouts’ on Feb 08 between 05:40 and 07: 11 UTC.
Consequent to the blog published, it has been quickly mitigated within a few minutes after the issue detected. Moreover, the slow API responses are quickly identified using BitMEX’s internal alerting mechanism’. The announcement reads that the issue of ‘API timeouts’ occurred due to the resource contention at the API layer. It says;
Between 05:40 and 07:11 UTC today, a subset of the requests to the BitMEX REST API experienced slow API responses and eventual API timeouts due to resource contention at the API layer. Upon detection via our internal alerting mechanisms we identified the cause and mitigated the immediate impact within a few minutes. There is currently no ongoing issue and there was no impact to the trading engine or user data during this time.
Additionally, it assures that these issues are being taken on ‘priority’ and eventually the team is undertaking a high-level internal monitoring system to detect further issues and resolve quickly.
We have also increased the sensitivity of our system monitoring to detect and resolve potential similar issues much sooner. We apologize for any inconvenience this may have caused.
Stay tuned with Coingape to follow up the further announcement from BitMEX.
The post BitMEX Released ‘Notice of API Timeouts 8 February 2019′ appeared first on Coingape.
Source: CoinGape

BitMEX: Several Altcoins could be subject to a 51 percent attack from BitMEX’s insurance fund

BitMEX, the Hong-Kong based cryptocurrency trading platform holds so many Bitcoins in their Insurance Fund, that they can potentially initiate several 51 percent attacks against many top coins in the market at present.
At press time, BitMEX’s insurance fund holds 21,366.4 Bitcoins which will equal to $76.3 million. Some Twitter users compared the presence of the fund and the attack it could set-off to the Majoras’ Mask in the game The Legend of Zelda as, “knowing the moon is going to destroy you but it’s a long time away so, “eh”.”
Several sharp-eyed users picked up this development in mid-December when the apex of the bearish market had subsided but the market was still in decline.
BitMEX earlier stated, as 2018 began, that the trading platform holds only 2720 BTC [$75.9 million], since then the amount of BTC held in the fund has shot up by almost 8 times since the January 1st, 2018 numbers were released.
Zack Voell, a producer at the popular cryptocurrency podcast “The Coin Pod” explained the BTC holding of BitMEX on January 22, 2019, Twitter thread. Voell kept a track of BitMEX’s BTC held since early 2016.
Within a period of one year, from January 2016 to January 2017, BitMEX added 162 Bitcoins to their fund, the following year, the amount held would rise up by over 1,500 percent to reach 2,720 BTC. Furthermore, in one year, the coin’s Bitcoins held increased to 20,776 as the cryptocurrency prices kept falling through the year.
Source: @zackvoell
Source: @zackvoell
Voell further portrayed that the amount of Bitcoin’s held in the trading platform’s insurance fund increased as more and more of the top cryptocurrency was supplied into the collective currency market.
He further went on to compare the insurance fund, with its 21,366 BTC held to:
“• 1% of Coinbase valuation
• 2x Laszlo’s pizzas
• 580 2018 GranTurismos
• 3,800 hours of an $LTC 51% attack”
Some Twitter users called this out as a “conspiracy,” but Vowell reaffirmed that this information was based on publicly available data which can be easily availed.
Eric Wall, another Twitter user stated:
“So, by 2022, all bitcoin in the world except a fraction will be locked up in BitMEX’s insurance fund. With that much BTC off the market, the price per BTC won’t be limited to $1m, but rather $1tn. This is actually good for bitcoin.”
An analysis conducted by Crypto51, on the cost of Proof-of-Work 51 percent attack revealed that most virtual currency blockchains could be attacked by relatively small holdings. A 1-hour attack on Litecoin [LTC], for example, would come at a cost of about $20,000, attacks on smaller coins like Bytecoin [BCN] would cost $139 and Ethereum Classic [ETC] would be under $4,000.
Given its current holdings, BitMEX could run a 51 percent attack on top coins like Bitcoin Cash [BCH], Monero [XMR], Dash [DASH] among others for more than a year.
There’s no doubt that BitMEX has fared better than most cryptocurrency companies despite the ‘Crypto-Winter,’ moving into their new office in August 2018, which is also the most expensive office building in all of Hong-Kong.
The post BitMEX: Several Altcoins could be subject to a 51 percent attack from BitMEX’s insurance fund appeared first on AMBCrypto.
Source: AMB Crypto

Top Trending Cryptocurrency News of The Week; Constantinople, Cryptopia, Bitmex and Tron Among Major Newsmakers

Ethereum delays its Constantinople upgrade
Problems for Ethereum continued as the much anticipated Hard Fork Constantinople upgrade was further delayed as a code audit by ChainSecuirty-  a smart contract security audit firm found some serious security vulnerabilities to Ethereum smart contracts. The Core Development team took notice of the flaw, and on the following conference, they announced that the hard fork is now scheduled to occur on, or around, February 27th on block number 7,280,000.
NZ’s popular exchange Cryptopia gets hacked
Earlier this week, 2019 saw its first hack of a cryptocurrency exchange. New Zealand-based cryptocurrency exchange Cryptopia was reported to have suffered a security breach and went under unscheduled maintenance to assess the losses incurred. The team informed the community using its official Twitter handle which said that once the hack was identified by staff, the exchange informed and involved the appropriate government agencies including the NZ police and High Tech Crime Units who were actively investigating.
Bitmex ends services for US and Quebec customers
In face of a current crackdown on unlicensed crypto exchanges, Bitmex announced that it is in the process of closing down trading accounts of those in Quebec and United States. The mouthpiece, South China Post reported BitMEX was not registered with the Canadian regulatory body Autorité des marchés financiers (AMF) and is therefore not authorized to have activities in the province of Quebec making the company’s activities were illegal.
Exchange giant OKCOin lists Tron
Among major listings this week, Tron found itself on a new exchange, this time it was OKCoin. OKCoin customers would now be able to acquire Tron tokens by using USD, BTC, and ETH. OKCoin stated in their announcement that, Tron is one of the leading coins and has 1,423,377 holders and that it is one of the top 10 cryptocurrencies in the world by market capitalization.
Russia denies buying cryptocurrencies
Last week a newsflow from Russia stated that the country was moving towards adding bitcoin to its national reserves. But it seems it was all fake. Following the last week’s news, an official with the Russian State Duma. Elina Sidorenko who chairs the Duma’s cryptocurrency group said that the news was only a rumor and the nation currently has no such plans. According to her, the nation would need at least 30 years to implement this idea.
Indian Apex Court delays Crypto hearing again
The Indian apex court has again delayed the hearing of the cryptocurrency case. The case is being delayed for the past 6 months now as the largest democracy of the world still awaits a decision on the newest form of “money”. While things still look meek, according to sources close to the case a decision may come on February 26, 2019, as the crypto case is now listed as the first case to be heard on February 26, 2019
The post Top Trending Cryptocurrency News of The Week; Constantinople, Cryptopia, Bitmex and Tron Among Major Newsmakers appeared first on Coingape.
Source: CoinGape

Breaking News: BitMEX Fears Regulator’s Crack Down, Ditches North American Markets

One of the active crypto exchange and the Bitcoin futures trading platform, BitMEX is shutting client’s trading accounts in US and Quebec. Per SCMP, this move is a result of the Quebec regulator’s action on curbing unauthorized exchanges.
Image Source: Bitmex
BitMEX Under Regulatory Pressure
Back in early 2018, Autorite des marches financiers (AMF), Quebec’s financial regulators urged to close all accounts linked with BitMEX exchange. This is because AMF identified that the exchange is not registered with AMF and thus not authorized to provide trading services. Nevertheless, an official announcement calls ‘the trading activities of BitMEX is illegal’ henceforth all linked accounts must be immediately closed.
tradi“BitMEX is not registered with the AMF and is therefore not authorized to have activities in the province of Quebec,”
According to the various sources, BitMEX’s major user base, specifically, a one-seventh portion comes from US-based traders. Nevertheless, the specific matter behind exchange’s US account closure is still out of sight and whether or not BitMEX is already registered with SEC is also not known. SEC (Securities and Exchange Commission) is continuously eyeing on unregulated and illicit crypto activities but it has declined to comment on BitMEX’s decision, IMF said. Nonetheless, the US-traders closure on BitMEX was also reported back in November 2018 by users on social media.

Just got my @BitMEXdotcom account terminated on suspicion of being a US Citizen. Anyone else find the timing of this odd?The 900+ affiliates that accounted for half my income r gone going forward.After #Unconfiscatable Conf expect prices on all services offered by me to rise. https://t.co/6bShmcdBEF
— Tone Vays [@Bitcoin] (@ToneVays) November 12, 2018

Beside SEC, Arthur Hayes who is the co-founder and chief executive at BitMEX also declined to respond to the decision. Moreover, the graph of BitMEX trading over the past year has also declined with the falling graph of Bitcoin.
Conclusively, the regulatory frameworks and market break down are typically the key reason behind BitMEX’s closure. At press time, BitMEX counts the trading volume $928,723,978 where the leading cryptocurrency, Bitcoin is trading at $3662.50. Additionally, it is noted that few BitMEX users switched to trade Bitcoin futures when Bitcoin suddenly dumped in 2017 from its peak of almost $20000. According to the data from coinmarketcap, Bitcoin is valuing $3679.79 with positive growth of 2.99 percent during 24hrs.
image source – https://coinmarketcap.com/currencies/bitcoin/
What do you think of BitMEX’s decision? Share your thoughts.
The post Breaking News: BitMEX Fears Regulator’s Crack Down, Ditches North American Markets appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] aims to replicate some properties of physical cash but in electronic form: BitMEX Research

Yesterday, January 3, 2019, the crypto space celebrated the 10-year anniversary of Bitcoin [BTC], the largest cryptocurrency by market cap. On that day, the creator of the cryptocurrency, Satoshi Nakamoto mined the first block on the chain aka the genesis block.
The message on the genesis block continues to serve as a reminder why the institutions need to be stripped out of their power. The content on the first block read, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, the front-page headline of The Time on January 3, 2009.
In order to commemorate this event, BitMEX – a Bitcoin Mercantile Exchange, published a segment of an article titled, ‘Would the mass adoption of Bitcoin upturn the whole financial system?’. Along with this, BitMEX also conveyed their gratitude to Satoshi Nakamoto by publicizing it on ‘The Times’. The message read:
BitMEX’s message to Satoshi Nakamoto on The Times | Source: BitMEX
The research claims that Bitcoin and physical cash share more advantages in comparison to Bitcoin and electronic cash deposits. It also states that Bitcoin’s unique feature is that it can be used electronically, an add-on to the advantages it shares with physical cash.
The key advantages of physical cash include zero transaction fees, 24*7 payments, instant payments, can effectively be hidden by the authorities and is difficult to confiscate, and highly anonymous. It states:
“Bitcoin aims to replicate some of the properties of physical cash, but in an electronic form, an “electronic cash system”. Before Bitcoin, people had to make a binary choice, between physical cash or using a bank deposit. For the first time ever, in 2009, Bitcoin provided the ability to use a bearer type asset, electronically.”
Because of this, Bitcoin can be considered as the new hybrid form of money, sharing advantages of both physical cash and bank deposits. Additionally, the report states that the currency provides a “middle ground option” because it is positioned in a way that it can have “a subset of the features of each”, as the downside of the coin is that it does not have all the advantages of neither electronic money nor physical cash. It stated:
“For example, Bitcoin may never have the throughput of traditional electronic payment systems or the ability to use without electricity such as with physical cash. Although as technology improves, Bitcoin may slowly develop more strengths and gradually improve its capabilities, to narrow the gap.”
The post Bitcoin [BTC] aims to replicate some properties of physical cash but in electronic form: BitMEX Research appeared first on AMBCrypto.
Source: AMB Crypto

Bitmex Celebrates 10th Anniversary of Bitcoin on the Front Page of The Times Newspaper

CoinSpeaker

Bitmex Celebrates 10th Anniversary of Bitcoin on the Front Page of The Times Newspaper

Ten years ago on a day like today, the Bitcoin Genesis lock was mined. Bitmex has taken to the front page of Times Newspaper to thank Satoshi Nakamoto for the creation of Bitcoin.

Bitmex Celebrates 10th Anniversary of Bitcoin on the Front Page of The Times Newspaper

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Source: CoinSpeaker

Constantinople Fork Will be Very Bullish for Ethereum, Believes Crypto Analyst Alex Krüger

CoinSpeaker

Constantinople Fork Will be Very Bullish for Ethereum, Believes Crypto Analyst Alex Krüger

Though this year hasn’t been the best one for Ethereum, everything may change in 2019 after a long-awaited Constantinople upgrade.

Constantinople Fork Will be Very Bullish for Ethereum, Believes Crypto Analyst Alex Krüger

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Source: CoinSpeaker