Venezuela Turns to Crypto and Rubles to Bypass US Sanctions

Venezuela Turns to Crypto and Rubles to Bypass US Sanctions
Venezuela and Russia are discussing an option to use the Ruble and the Petro in their mutual trade settlements.
Venezuela Turns to Crypto and Rubles to Bypass US Sanctions

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Source: CoinSpeaker

ABN AMRO backs out of crypto-race; ditches Bitcoin wallet project

Cryptocurrencies have gained tremendous traction and adoption in mainstream culture, with non-financial companies joining the digital race recently. While companies such as Nike and Microsoft have amped up their crypto-investments, some other major financial institutions are moving away from the underlying technology. In fact, an executive of the Bank of America recently stated that BoA did not see any immediate use-cases for the technology.
In a similar development, ABN AMRO, a multinational banking institution based in The Netherlands, has canceled its plans to launch its own crypto wallet. The information was brought to light by a Twitter user, @CoinNessCom. The tweet read,
“Dutch Bank ABN AMRO Ditches Its Bitcoin Wallet”
While ABN AMRO was previously reported to be testing a cryptocurrency wallet named  ‘Wallie,’ the latest news suggested that the bank was still apprehensive about offering its customers access to virtual currencies. This was confirmed by Jarco de Swart, ABN AMRO’s Senior Press Officer, in an email that stated that the bank had “decided not to follow up on the Wallie inquiry”.
Although several experts speculate that the bank might reintroduce cryptocurrency in the near future, ABN AMRO’s official website clearly mentioned that “at ABN AMRO you cannot invest in bitcoins or other cryptocurrencies” and “ABN AMRO does not support or approve cryptocurrencies”.
The post ABN AMRO backs out of crypto-race; ditches Bitcoin wallet project appeared first on AMBCrypto.
Source: AMB Crypto

Binance’s CZ asks people to embrace crypto; warns non-users against being left out in the future

Consensus 2019 and Blockchain Week NYC witnessed a flurry of developments in the crypto-sector. Many in the community speculated the rise in institutional adoption to be the cause of the massive surge in Bitcoin prices and the collective cryptocurrency market’s value. The long sought after market recovery propelled the digital coins to break several resistance points, despite cooling down shortly after.
The most recent development making headlines was the Gemini and Flexa partnership. In a bid to enable users to purchase from prominent retailers across the US, like Barnes & Noble, Baskin Robbins, Bed Bath & Beyond, Caribou Coffee, and Crate & Barrel, among others, the leading digital currency exchange collaborated with the payment solution provider channel.
While speaking at the 10th Asian Leadership Conference 2019 in South Korea, Binance CEO Changpeng Zhao aka CZ, commented,
“If you don’t want to be left out in the future, you will have to embrace it.”
CZ  added that cryptocurrencies “could not be ignored” and added that the ones who are doing so would end up making themselves “poorer”.
According to the CEO of one of the world’s leading crypto-exchange platforms, Bitcoin [BTC] or cryptocurrencies, do not fall under the category of traditional assets. He said that digital coins are neither securities nor commodities, adding that they are not even “currencies”, but something very different and unique.
In his presentation, CZ also mentioned that if someone was trying to “nib Bitcoin in the bud”, then it would imply that they simply “don’t understand” it. He added,
“If you want to ban Bitcoin, which many people have tried, then all you’re doing is just excluding yourself from the future of finance. “
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Source: AMB Crypto

Ripple: Cryptocurrencies can reduce friction in global commerce, claims CEO Brad Garlinghouse

Given the constant disregard for cryptocurrency and blockchain by financial institutions, prominent crypto-leaders have personally been preaching the technology for furthering global adoption. One such figure is Ripple’s CEO, Brad Garlinghouse.
Ripple’s Garlinghouse has always made an effort to minimize the common man’s speculation around tokens. Recently, he made headlines for sharing similar views on Recode Decode, where he said,
“You went from illicit activity to speculation, and today you’re going from speculation to utility.”
While exhibiting his support for cryptocurrency adoption, Garlinghouse made it clear to viewers that he did not expect banks and governments to “be obliterated by the new technology”. He also shared his vision for the future, stating that the system can be changed only by working with the system.
The Vox interview also touched upon Garlinghouse’s claim that crypto-adoption would result in the direct reduction of friction in global markets. He said,
“These are profound technologies that can really benefit society in lots of ways. We can reduce the friction of global commerce, we can allow people globally more access to the economies around the world to compete. I think that’s actually a really good thing.”
He further argued that different currencies, including fiat and crypto, could find specialized use-cases for different things. Along the same lines, he also supported Bitcoin [BTC] investments alongside developments in the XRP ecosystem, as he believed that both work best owing to their unique use-cases. The interview finally ended with Garlinghouse mentioning this on a cautious note:
“Focus on the substance, not the hype. It’s going to impact lots of parts of lots of industries in the same way the internet impacted lots of industries.”
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Source: AMB Crypto

Dash More Popular Than Bitcoin and Litecoin in Venezuela: CEO of Dash Core Group

Dash is a privacy-focused cryptocurrency, aimed towards providing low-cost remittances around the world. The Dash Core team under CEO Ryan Taylor, responsible for the development and adoption of Dash has made a lot of progress in Venezuela. They have made it their primary focus as they continue to offer other low-cost solutions to improve the technology infrastructure in Venezuela.
Recently, in an interview with Fred Schebesta of Crypto Finder, Ryan noted that,
“Dash is actually used more often at the point-of-sale in Venezuela than Bitcoin and Litecoin combined… We have two-three thousand merchants in Venezuala acception Dash.”
Dash has also been integrated by MasterCard earlier this year to provide feasible crypto-to-fiat payments. Taylor also talked about Dash integrated cell-phones which have dash wallets in-built in them. According to him, they have shipped a hundred thousand of those phones.
The Dash Core group is also establishing partnerships with existing remittance providers and financial institutions to reduce the overall cost of remittance and decrease the “monopolistic” effect of big firms in the remittance industry.
Price Surged by Almost 40% Over the Week
Dash recorded a price surge of 23% on 19th May 2019, as the price broke above resistance levels. The price of Dash at 5: 00 hours UTC on 20th May 2019 is 166.9. It is trading 10.92% higher on a daily scale.
DASH/USD Daily Chart on TradingView
Dash corrected slightly as it met resistance near $170. On a weekly scale, the price has surged over 38% as it began last week at around $125. The total market capitalization of Dash also touched $1.5 billion as it gained a couple of ranks to cement 13th position w.r.t. Mcap.
DASH/USD 1-Week Chart on TradingView
The All-Time High Price of Dash is above $1400. While it was achieved during the bubble of 2017, Dash has improved its reach and adoption tremendously.
Do you think the bull run on Dash will be back? Please share your fundamental and technical viewpoints with us. 
The post Dash More Popular Than Bitcoin and Litecoin in Venezuela: CEO of Dash Core Group appeared first on Coingape.
Source: CoinGape

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance

Bitcoin bulls have turned out to be more relentless than most traders would have predicted from its historic prices. Moreover, the fundamentals around Bitcoin [BTC] seem to be stronger than ever with the Bitcoin virus spreading to the east now. Mati Greenspan, the senior market analyst at eToro tweeted,
“BTC on the move again… Asian market certainly doing their bit today.”
This is coming after a huge pullback on 17th May 2019. A Bullish Marubuzo with was seen in the 0: 00-4: 00 Hours UTC on 19th May as the market broke above $8000 again. This the second time the market has attempted to break it after a huge correction.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
The other four performing coins
Opening Price: $6968
Closing Price: $8109
The weekly gains: 16.3%
Weekly High/Low: $8390/$6178
Binance [BNB] Coin
Binance [BNB] coin was trading in the red in the last week’s update trading around $20. Nevertheless, the token started picking up value again as normal operations began at Binance Exchange after the hack. This week Binance also initiated the process of burning token from the Ethereum blockchain to process them on the native Binance Blockchain.
BNB/USD 1-Day Chart on TradingView
Opening Price: $20
Closing Price: $29.5
The weekly gains: 47.6%
Weekly High/Low: $32.2/$19.9
Stellar [XLM]
Stellar’s rise was higher than most coins during the week as it held gained 35% on a weekly scale. The Stellar validators were reportedly shut down for two hours on 15th May 2019. As Bitcoin continued to correct and rise, Stellar held it gains above 0.00001750 BTC.
XLM/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $0.10
Closing Price: $0.14
The weekly gains: 40%
Weekly High/Low: $0.16/$0.117
Ethereum [ETH]
Ethereum has been the top performer in leading altcoin gains in terms of total market capitalization. The total market capitalization of Ethereum is above $25 billion. It still accounts for more than 10% of the total capitalization of cryptocurrency markets.
Also Read: Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run
ETH/USD 1-Day Chat on Coinbase (TradingView)
Opening Price: $188
Closing Price: $259
The weekly gains: 38%
Weekly High/Low: $281/$185
Tezos [XTZ]
Tezos [XTZ] has been one of the best performing coins of the year. It has gained more than 100% before the bull run on Bitcoin began. The gain was influenced by the Coinbase allowing Tezos [XTZ] as the first coin which could be staked/forged on the Coinbase Custody platform.
It was on the rise again this week as the market seems to have broken bullish since the beginning of the month. It broke above $1.75 as it set sights on to $2.
XTZ/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $1.24
Closing Price: $1.77
The weekly gains: 43.4%
Weekly High/Low: $1.833/$1.23
XRP, Dash, IOTA, and Cosmos [ATOM]
The almost all altcoins were in the green on a weekly scale. While the above-mentioned cryptocurrencies rose higher than the rest, XRP, Dash, IOTA, and Cosmo [ATOM] also registered more than 20% gains.
The gain in XRP was considerable as it broke above the $18 billion market capitalization. Moreover, the weekly rise is about 25%. The dominance of XRP over cryptocurrency market is about 7%. The rise of Dash, IOTA, and ATOM is 21%, 31% and 23$ respectively on a weekly scale.
XRP/USD 1-Day Chart on Bitstamp (TradingView)
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 19th May 2019. 
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Source: CoinGape

Facebook registers ‘Libra Networks’ in Geneva for developing blockchain technology

Facebook, on May 2, registered Libra Networks, a firm specializing in developing blockchain technology, in Geneva. This is their first foray into developing in-house blockchain technology and could have adverse effects on the crypto-market, if speculations are to be believed.
Recently, the United States Senate sent out an open letter to Mark Zuckerberg, asking details about their cryptocurrency project named “Libra”. This came out after they read about it in an article by the Wall Street Journal.
The project is likely to be released in the second quarter of 2019 and the development team was already set up last year. It is looking at introducing a coin which users can spend on its website or any other. According to the report by Wall Street, Facebook is also looking at backing its crypto-coin with the dollar reserve. This is done to make it less volatile from Bitcoin and other cryptocurrencies.
Libra will be looking at investing, payments, financing, blockchain and other technologies to work on via their newly established firm. The social media giant is in talks with all major payment networks like Visa, Master Card and more and is looking to raise around $1 billion for the crypto-project. The crypto research team is expected to be headed by David Marcus, the ex-PayPal president.
However, the crypto-ecosystem is skeptical of Facebook entering the crypto-verse. One of the reasons for this is their past controversies surrounding the sale of user data to third parties. Following the issue, people now allegedly maintain a notion that Facebook could repeat history and sell their private data to any third party and this could spell disaster for crypto-users.
India is one of the biggest markets for Facebook as India has the highest number of WhatsApp users across all markets. While looking at the crypto-market in India, Facebook may have to make large changes in its policies owing to the possibility of a blanket ban on cryptocurrencies in India.
The post Facebook registers ‘Libra Networks’ in Geneva for developing blockchain technology appeared first on AMBCrypto.
Source: AMB Crypto

Facebook Cryptocurrency Project ‘Libra Networks’ Opens Office in Switzerland

Facebook has been highly secretive about its recent endeavor with cryptocurrency and blockchain. A more transparent approach could raise speculations in the market. Moreover, the regulations around cryptocurrency and payments have been unclear as well. Recently, the U.S. Senate Banking Committee sent an open letter to Founder Mark Zuckerberg, demanding the details about its cryptocurrency project: Libra.
Furthermore, according to the press release by Reuters, the chief executives of Facebook’s subsidiaries WhatsApp, Instagram and Messengers have been under regulatory scrutiny over privacy issues.
Reportedly, Facebook has registered the of ‘Libra Networks’ in Geneva, Switzerland. Facebook is the stakeholder of the company which aims to provide financial and technology services and develop related hardware and software, according to Reuters findings. The registration was made on 2nd May 2019 in Geneva. According to the fillings,
“investing, payments, financing, identity management, analytics, big data, blockchain and other technologies.”
Facebook has acquired trademark rights to Libra reportedly and is recruiting dozens of financial firms and online merchants.
Facebook has also been on a hiring spree for its new blockchain team that has more than 40 members from the FinTech industry. It also took a lenient stance on the advertising of cryptocurrency and blockchain projects on its giant social media platform.
Do you think that the move from the US to Europe was due to regulatory pressures? Please share your views with us. 
The post Facebook Cryptocurrency Project ‘Libra Networks’ Opens Office in Switzerland appeared first on Coingape.
Source: CoinGape

Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki

With government bodies discarding cryptocurrencies and the private sector accelerating its foray into the cryptoverse, the general public is yet to take sides. In fact, several crypto-proponents have started to reach out to investors for their endorsement on the industry. A recent tweet shared by @Ta_Giggs has been gaining traction for all the right reasons.
The tweet highlighted the interest of a major American tycoon, in the world of cryptocurrencies. The tweet read,
“Even big investment tycoons like @theRealKiyosaki speaks of cryptocurrency, don’t be left out on crypto investment.”
What caught the attention of crypto-enthusiasts however, were the screenshots attached to the tweet. The screenshots highlighted Robert Kiyosaki’s personal opinion on the inevitable rise of cryptocurrency.
Source: @Ta_Giggs
Kiyosaki’s email specifically stated that ‘Crypto is the future,’ followed by a warning to the recipient. The warning read,
“You can either get left behind or prepare to become MEGA wealthy.”
He further wrote that the elimination of a middleman will help the world monetary system reduce dependence on the bond market. The email also expanded on the ‘freedom’ aspect of cryptos, while discounting reliance on traditional Wall Street or NASDAQ exchanges. The email also touched upon the rise of a “new way of raising capital through ICOs.”
Kiyosaki also asked the sender to note how “many international banks have stopped sending digital dollars and have started sending crypto transfers instead.” Contrary to Warren Buffet’s opinion on cryptocurrencies, he added that the US Dollar is already being replaced, without anyone noticing.
Source: @Ta_Giggs
And while it’s not clear as to who the recipient was or what the overarching intention behind the email was, screenshots of the same are quickly gaining attention on Twitter. It should be noted, however, that Kiyosaki hasn’t come out publicly in favor of cryptocurrencies yet, neither has he commented on the screenshots that have been shared on social media nor has he confirmed the authenticity of the same.
The post Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki appeared first on AMBCrypto.
Source: AMB Crypto

John McAfee Sends Last Tweet on Ethereum Cryptocurrency, Then ‘Goes Dark’

John McAfee is the Founder of McAfee internet security firm, McAfee associates and has also authored a couple of books. He is popularly known for his unabashed honesty on Twitter.  The Crypto-Twitter community pays a lot of heed to McAfee because of his conviction towards Bitcoin and cryptocurrencies.
He is the person who has supported and speculated on Bitcoin and cryptocurrencies for a long time. In 2018, McAfee used to release his ‘coin of the week’; for a starting couple of weeks, those coins saw tremendous growth in price due to speculation.
Moreover, McAfee was highly active on Twitter, sharing things about anything and everything more often than not. However, he has decided to call it quits from the social media platform. 
John McAfee’s Famous Claims on Bitcoin Prices (Tweet)
Recently, he expressed about the distress that he has been facing from the US Government. According to him,
The IRS, using the NSA and the FBI, are harrassing my former employees (Two were given houses), my business contacts (In Mexico no less), my banks, and even my auto mechanics. I will be publishing the full audio of these harrassments soon. I invented the tech they use. I’m McAfee.
The reason for the surveillance has not been mentioned. Moreover, McAfee hasn’t been served any indictment for now that we know off. However, he unexpectedly and rather surprisingly went ‘dark’ without even sending a ‘goodbye tweet.’ The last tweet from his official account reads,
“Developing events have made it necessary for John McAfee to go dark. Please be advised that this account will be operated by staff until further notice. More details will be released in time.”
Nevertheless, his last tweet was on Ethereum, the second largest cryptocurrency by market capitalization. He chose sarcasm and satire for the tone of his tweet. It was rather disingenuous. He said,
“Folks asking my opinion of Ethereum: Well . . .. Frankly, I prefer one syllable coins and am not fond of Ethereum’s spelling. Additionally, many of my friends who hold Ethereum dress oddly. And, of course, Buterin looks underfed to me. But do not take this as investment advice.”
Also Read: John McAfee Offers to Resolve Binance Hack Incident- Will He Win With His Cybersecurity Skills?
Now that the account will be operated by staff, we can only expect official announcements and important updates from that once popular Twitter account. The crypto-twitter community has engaged a lot with him as he made some wild predictions for the crypto-market. Moreover, he also claimed that he knows and would reveal the identity of Satoshi Nakamoto. However, he backed off on that pretty soon.
Do you think McAfee’s ‘go dark’ tweet will create a negative or positive image for cryptocurrencies? Please share your views with us. 

The post John McAfee Sends Last Tweet on Ethereum Cryptocurrency, Then ‘Goes Dark’ appeared first on Coingape.
Source: CoinGape

Bitcoin Pizza Day – ’60 Minutes’ Magazine Interviews Man Who Spent 10000 Bitcoin for Pizza in 2010

Every year, the crypto community celebrates ‘Bitcoin Pizza Day’ on May 22. However, this time ‘the mechanism of Bitcoin and cryptocurrency’ was recently examined by the most reputed news magazine in TV history ’60 Minutes’.
Bitcoin Pizza Day – on May 22, 2010, at the early stage of Bitcoin’s inception, a person ‘Laszlo Hanyecz’ traded 10000 Bitcoin for some pizza. From that time on, Hanyecz is known as Bitcoin pizza guy – and it was reported that the soon after trading 10000 Bitcoin for pizza, BTC worth less than a penny.
An American famous journalist ‘Andreson Cooper’ had earlier interviewed to Marco Streng, the CEO of Genesis Mining, Bitcoin’s first millionaires Charlie Shrem, Federal Reserve Governor Lael Brainard, Neha Narula – director of the MIT Media Lab’s Digital Currency Initiative.
This time, Cooper interviewed Hanyecz for 60 minutes’ news media magazine – the full interview will be released on May 19 by official ’60 minutes’. However, a glimpse of it has already reported by CBS news. Cooper interviews Hanyecz when Bitcoin was trading at the value $8000.
Counting 10000 Bitcoins to today’s worth cooper asked;
Cooper – “That’s $800 million, “You spent about $800 million on pizza?”
Hanyecz – “Well if you look at today’s exchange rate.”
Cooper – “Are there nights you wake up, where you think, ‘I could have had $800 million… if I hadn’t bought those pizzas?’”
Hanyecz  – “I think thinking like that is… not really good for me,”
Also read – Bitcoin High Transaction Fees And Inflation Rate Revives the 2017 FUD Again 
In order to report the interview of Hanyecz for 60 Minutes, the source states that Cooper visited cryptocurrency ‘mine’ in Iceland. Besides that Cooper also made his visit to Federal Reserve in Washington D.C, where Federal reserve governor Lael Brainard strongly made a skeptical view on cryptocurrency. In her view, Cryptocurrency is riskier than U. Dollar. She says;
“The Federal Reserve and ultimately the U.S. Treasury stand behind [the dollar],” says Brainard. “And when you hold your dollars in a bank account, you have deposit insurance… None of those accountability mechanisms exist for Bitcoin.”
The news of Cooper interviewing Bitcoin pizza guy comes as excitement for the crypto community – famous crypto figures including Barry Silbert, Charlie shrem has shared their views on Bitcoin to be discussed at 60 minutes media.
Image Credit – Twitter
So readers, do you celebrate Bitcoin Pizza Day.? Let us know what do you think BTC price will be on May 22, 2019.? 
Image Credit – Shutterstock
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Source: CoinGape

Bitcoin [BTC]: Any reorg can potentially undo the foundational features of Bitcoin, claims Adam Back

Binance CEO Changpeng Zhao’s consideration of an ‘urgent reorg’ as a measure for damage control divided the Twitter community. With most supporters despising CZ’s decision, Peter McCormack discussed the probable outcome on the crypto-ecosystem with Adam Back (Blockstream) and Bryan Bishop (Bitcoin Core Developer), if such a block reorg were to happen in the future.
The interview questioned CZ’s intent behind the block re-org for returning the stolen funds, with Back explaining the technical complications that can compromise exchanges. He further clarified that any type of “reorg can potentially undo the foundational features of Bitcoin like censorship resistance and unfreezability.”
Back added,
“It’s a mockery to electronic cash systems. It loses interesting properties that are baked into the way people use it [BTC] in exchanges.”
Supporting Back’s statement, Bishop shared that few exchanges cannot undergo a reorg as it will require a wholesale replacement of expensive mining equipment. He also explained how this ‘limitation’ helps business leaders like CZ to avoid such decisions during ‘panic mode.’ He backed his explanation by saying,
“If you want to reassemble 51% of the network, you have to coordinate with more people and all these power users are far less likely to follow the expediency of the day.”
Back also highlighted Greg Maxwell’s idea of introducing smart contracts and immutable hardware configurations as a way to prevent GPU-based miners to change/bend the rules. When McCormack stressed on miner’s capability to perform a reorg, Bishop stated that “it will kill the network.” He clarified,
“The existence of alternative blockchains that use the same proof of work function is actually a bad thing because that actually splits up the hash rate onto multiple networks and it lowers the cost of forging an alternate history.”
While CZ was quick to put out the reorg fire with a followup tweet, the crypto ecosystem is yet to find closure after the 7000 BTC hack.
The post Bitcoin [BTC]: Any reorg can potentially undo the foundational features of Bitcoin, claims Adam Back appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin is ‘Digital Gold’, A Fact Now Echoing Across the Financial Investment Industry

Bitcoin’s massive gain this year has again brought the innovative asset in the purview of mainstream media. The news of Bitcoin’s price breaking $8000 with more than 100% gains has had many financial experts weighing in on it.
Moreover, Bitcoin is not an entirely unregulated asset as it was in 2017, Bitcoin Futures contracts are being actively traded on CME and other Exchanges all around the world. Reportedly, the daily volume of trading on Bitcoin Futures on CME is above $1 billion.
Mike Novogratz, a Bitcoin perma-bull reiterated the ‘digital gold’ case for Bitcoin in a recent CNBC interview. He said,
“Bitcoin has really won store of value ‘digital gold.’ Gold has an $8.5 trillion market cap. Bitcoin has about $130 billion… got a long room to go.”
Bitcoin’s Total Market Capitalization This Year (Coin360)
Bitcoin’s correlation with other cryptocurrencies might be the only thing that adds burden to its price, currently. The total dominance of Bitcoin over the cryptocurrency markets is around 60%. Mike also emphasized on the growing credibility of Bitcoin in the FinTech industry. Microsoft recently announced an identity tool on the Bitcoin blockchain which established the authority of Bitcoin over other cryptocurrencies.  He said,
“Microsoft and Facebook are One of the biggest companies in the world ‘credentializing’ Bitcoin.” He added, “I think when you look back at 2017. One of the problems was everything was else was trying to bitcoin… Instead of 21 million bitcoins, we had a zillion of them. And that’s how the price collapsed… Bitcoin has become a social construct.”
Furthermore, currently, Bitcoin is at around 40% of its all-time high, and it’s market dominance it approximately 60%. If the momentum continues, Bitcoin could soon be looking at a healthy dominance which will open space for successful projects to grow and prosper.
Meltem Demirors, Founder at Coinshares and an analyst, also reiterated the same fact in a separate interview with CNBC fast money. According to her, Microsoft building a product on it and other institutional platforms entering the space are all positive signals for Bitcoin. She pointed out that,
“This years’ narrative is Bitcoin, Bitcoin, and Bitcoin. Its the largest crypto by market cap. Its the asset people know best, and most importantly, Bitcoin has the most secure network.”
She also listed all her reasons which build a strong positive case for Bitcoin in this Twitter thread. Tom Lee, the Co-Founder at Funstrat Global, also emphasized on the same facts in another update from the CNBC futures market. He said,
“Bitcoin’s been rising pretty steadily that that recently looked parabolic. We’ve got the largest crypto-conference in NewYork this week. This year we’re seeing it bringing quality because we don’t have much scams and ICOs… Bitcoin is the epic digital gold.”
Also Read: Bitcoin Intrinsic Value Debate: Anthony ‘Pomp’ Vs Shark Tank’s Kevin O’Leary
Tom Lee also suggested that Bitcoin could soon retest its all-time high near $20,000. Apart from these more popularly known crypto-traders, Oz Pearlman also bet big on Bitcoin saying it could reach $12000 by January next year.
Do you think as well that Bitcoin is a better replacement for gold or it is just hype? Please share your views with us. 
The post Bitcoin is ‘Digital Gold’, A Fact Now Echoing Across the Financial Investment Industry appeared first on Coingape.
Source: CoinGape

Crypto-Market Update: MCap Nears $250 Billion; Alts XRP, ETH, BNB, XTZ Join Bitcoin’s [BTC] Bull Run

Bitcoin [BTC] rose from $6000 to $8000 in less than a week. The gain on Bitcoin since the beginning of the month is 52.2%. Moreover, the sudden unprecedented rise made the altcoin traders wary of their investments as it continued to lose value to BTC. Altcoins traders which seemed to be losing value to Bitcoin maximalists are finally seeing green in their ledger.
Bitcoin’s rise cooled of near $8000 for the moment, the low and high from yesterday was $7621 and $8350 respectively. The price of BTC at 4: 00 hours UTC on 15th May 2019 is $8031.
XRP and XLM Continue Gaining on Consecutive Days
XRP seemed to begin the altcoin run as it gained more than 30% on Tuesday. It has continued to gain on the following day as well, as the price of XRP is trading 20.66% higher on a daily scale. The price of XRP at hours UTC on 15th May is $0.432.
XRP/USD 4-Hour Chart on Kraken (TradingView)
Stellar (XLM) which is closely related to ripple in terms of audience and vision rose with the ride as well. The price of Stellar is $0.119. It is trading 13.5% higher on a daily scale.
Ethereum, Bitcoin Cash [BCH], Litecoin [LTC]
Ethereum, the second largest cryptocurrency according to total market capitalization; it added another $2 billion to it in the past day. Moreover, Ethereum also rose w.r.t. Bitcoin [BTC] as it climbed back above 0.027 BTC.
ETH/BTC 1-Day Chart on Coinbase (TradingView)
Bitcoin Cash [BCH] and Litecoin [LTC] trading were trading at par on a daily scale. However, the rise in Bitcoin Cash [BCH] has been impressive almost equivalent to Bitcoin [BTC] as it gained almost 50% since the beginning of the month.
BCH/USD 1-Day Chart on Coinbase (TradingView)
The gain on Litecoin [LTC] has been in double digits as well. It broke above the $78 support and resistance, to trade in the $90 range.
Binance [BNB] Coin Breaks $25
Binance [BNB] coin broke above its previous all-time high as it traded above $25. The price which was looking towards the downside last week due to the hack at Binance Exchange has recovered to cement its 7th position w.r.t total market capitalization.
BNB/USD 1-Day Chart on TradingView
BNB seems to be getting resistance from the all-time high levels as it tries to break it for the third time in a month.
Tezos [XTZ], Cardano’s ADA and Tron [TRX] and IOTA Record Double-Digit Gains
Many altcoins traded in the green with double-digit gains on a daily scale. While all ‘good’ alt projects have been in the development phase in the past year, there was no specific reason for the rise of these altcoins except the bull run from Bitcoin [BTC].
Amongst the $1 billion MCap cryptocurrencies, Tezos [XTZ], Cardano’s ADA, Tron [TRX] and IOTA gained above or around 10%. ADA and TRX gained 11.6% and 10.7% on a daily scale. The price of ADA and TRX at 4: 00 hours UTC on 15th May 2019 is $0.085 and $0.0284 respectively. Furthermore, the gains on XTZ were more stupendous as its price broke above $1.6. It gained 17.4% on a daily scale.
The total market capitalization of the cryptocurrency market is closing in on $250 billion as it added about $4 billion in the past day. The dominance of Bitcoin [BTC] corrected from its yearly high of 60%, currently at 58.2%.
With the bull run in progression do you think we’ll reach 2017 highs soon or more accumulation is required? Please share your views with us.
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Source: CoinGape

Cardano intends to be a financial operating system for people who don’t have one, says Charles Hoskinson

While most crypto enthusiasts are focused on Bitcoin’s [BTC] epic comeback, the other half of the cryptoverse has shifted its interests to the technology side of it. The recent Cardano-Polymath partnership announced at the “Consensus 2019,” created a mix of buzz and commotion, in terms of the duo’s roadmap. In order to clear out the resultant confusion, Charles Hoskinson, Co-founder of Ethereum and Founder of Cardano, conducted a livestream on YouTube, explaining the intent behind the collaboration.
The video started with Hoskinson explaining Polymath’s involvement in conducting “over 120 security token offerings on Ethereum network,” and how its growth has been crippled due to existing compliance issues. He also supported the Cardano-Polymath partnership by saying,
“I firmly believe we’re going to need different standards and ecosystems. Cardano intends to be a financial operating system for people who don’t have one.”
Additionally, Hoskinson explained his belief in changing existing standards, including decentralized identifiers, and standards for metadata and interoperability. While the crypto-veteran explained his version of changes that are to be implemented by the world, he added,
“(As a result,) Certain marketplaces will probably be either black listed or less popular with, but it’s the moral and right thing to do. It’s just important for the consumer to be informed that when they hold an asset and have total control over it.”
The livestream also focused on Cardano’s partnership with Atala, which is currently running a pilot program with the pre-discussed framework. With respect to this particular partnership, Cardano’s primary role is to act as an auditor/issuer and maintain transparency and control for users. Finally, Hoskinson concluded the video by announcing his excitement at being part of a group that is “making new standards for the blockchain space and for the next generation of finance.”
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Source: AMB Crypto