EOS Releases Its Open Source iOS Wallet App and Chrome Extensions

EOS Releases Its Open Source iOS Wallet App and Chrome Extensions
The release of EOS open source iOS wallet app will allow developers to provide support for “inter-application transaction signing on native mobile devices”.
EOS Releases Its Open Source iOS Wallet App and Chrome Extensions

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Source: CoinSpeaker

EOS Gains Over 15% As Block.one Build Anticipation for #B1June Annoncement

EOS broke $8, gaining over 15% in the past 24 hours. The price of EOS at 4: 00 Hours UTC on 28th May 2019 is $7.9.
The market capitalization of the entire cryptocurrency market rose by around 10% on Monday 27th May 2019, but have retained the gains after that. However, EOS has gained higher than most coins. It also beats Litecoin [LTC] to attain 6th rank by total Mcap.
EOS/USD 1-Day Chart on Binance (TradingView)
The cryptocurrency reportedly retained its first rank in the Chinese cryptocurrency rankings released every month by the Center for Information and Industry Development (CCID) since May 2018. The Chinese Public Agency, CCID, assess the cryptocurrencies based on their application, underlying technology, and innovation. EOS was the leading platforms for Dapps according to their assessment.
‘Big Announcement’: #B1June; All Kept a Secret
The rise can also be attributed to the apprehensions of the ‘big announcement’ that Block.one is expected to deliver on 1st June. #B1June is a favorite caption among EOS proponents. While the details of the announcement are kept a complete secret, Mike Novogratz, cryptocurrency investor, and analyst had also mentioned it in his talk with CNBC Squawk box, he said,
“EOS has a big announcement in June. My guess on that announcement, people get excited, the coin goes higher.”
However, he also mentioned that the Dapps space could take about two to five years to develop. Nevertheless, some of these cryptocurrencies have a “real chance” of being recognized as currencies as well.
Block.One Has Purchased RAM Worth $25 Million on EOS
Reportedly, Block.one has purchased RAM space worth $25 million on the EOS blockchain. They spent their reserve balance of EOS to spend 3,300,000 EOS on it. Moreover, a cryptocurrency user, Rob Finch, also noted in a tweet that the RAM space is not bought to increase space for more users, it will surely be used to build something else. He tweeted,
“NOTE: once RAM is purchased, it cannot be used to create new accounts. The RAM for a new account is purchased at the time of account creation.”
In the recent episode of Everything EOS, where Zack talked about the use of the enormous RAM space that Block.one bought in EOS. It could include support for side chains or a new layer on EOS.
Moreover, he also said that,
“It could be used to provide some sort of scaling solution on Bitcoin..”
Another firm is also expected to co-announce things together with Block.one, which was confirmed by Dan as a “Yes” to the presence of other firms taking the stage. Dan Larimer, the founder of Block.one said in a discussion,
“We are spending on blockchain based social media outside of EOS VC… More code coming in May.”
What according to you will be the primary subject of the announcement? Please share your views with us. 
The post EOS Gains Over 15% As Block.one Build Anticipation for #B1June Annoncement appeared first on Coingape.
Source: CoinGape

Fund Manager Discusses Three Factors that Will Trigger Next Bitcoin Rally

The bitcoin price has slipped by almost 5.5 percent from its yearly high at $8,388 and could be in for a massive downside correction. But that has not deterred a prominent fund manager from projecting a bullish case for the world’s largest cryptocurrency.
Brian Kelly, the founder of BKCM, LLC, a New York-based digital currency investment firm, said in an interview that bitcoin is ready for another breakout action owing to three three core fundamentals: institutional adoption, retail anticipation, and supply cut. He explained that people were bullish because big financial firms are entering the bitcoin market, retail-level trading applications are looking to be rolled out, and the Bitcoin protocol was about a year away from cutting bitcoin supply in half.

After a more than 50% rally in the last month, Bitcoin is stuck at $8,000. Here's what @BKBrianKelly says could drive it higher. pic.twitter.com/Smxy7v2Pgw
— CNBC's Fast Money (@CNBCFastMoney) May 21, 2019

Factor 1: Fidelity and Wall Street
Bitcoin’s jump above the psychological level of $6,000 took place on May 9, almost over a week after Fidelity Investments announced that it would offer a bitcoin trading service to its institutional clients. The Boston-based asset management firm, which had $2.6 trillion worth of assets under management as of March 2018, expects to pump bitcoin’s demand among the so-called Wall Street investors.
Incidentally, a similar anecdote helped bitcoin sustain its price above $6,000. Garry Tan, a prominent seed investor, said in October 2018 that big investors assumed $6,000-level as an opportunity to purchase bitcoin cheaper. He cited David Swensen and Yale’s Warren Buffet, who had invested an undisclosed sum into two crypto-funds.

Galaxy Digital’s billionaire CEO, Mike Novogratz, called $6,000 the bitcoin-bottom in September 2018, again citing institutions’ interest in purchasing the cryptocurrency around the level.
“I think institutions are moving towards investing. It’s shocking how much has happened,” said Mr. Novogratz.
But bitcoin broke below $6,000 in November 2018 and stayed there until May 9. Mr. Kelly believed that the move above the level is prompting people to revisit the 2018’s institutions-pumping-bitcoin narratives.
“You are starting to get that long-waited-for institutional adoption,” said Mr. Kelly. “Fidelity is rolling out institutional custody – they are getting customers from the mainstream and people are buying the institutional [narrative].”
Factor 2: TD Ameritrade and Retail Investors
TD Ameritrade, one of the significant US-based electronic trading platforms, invested an undisclosed sum in ErisX, an upcoming cryptocurrency spot and futures contracts exchange. The announcement followed a TD’s anticipation of launching a bitcoin trading service for retail-based investors, which, as Mr. Kelly noted, was also one of the significant factors behind the ongoing bitcoin price boom. He said:
“We softened TD Ameritrade and they invested. They will now start offering Bitcoin trading to their retail customers over the coming months – perhaps, three to four months.”
Factor 3: The Bitcoin Halving Event
The supply rate of bitcoin will reduce by half in May 2020, according to the cryptocurrency’s underlying protocol that reduces the bitcoin mining reward by 50 percent in every four years. Historical evidence shows that the bitcoin price has always surged following a “halving event.” The first supply cut, which took place in November 2012, pushed the BTC/USD rate from $11 to above $1,000. The next halving in 2016 saw the price later establishing an all-time high towards $20,000.
Bitcoin and Its History of Halving | Source: Reddit
Mr. Kelly called the next halving a “big picture” for bitcoin bulls. The analyst expected that the price would rally before the next bitcoin supply cut, and would continue its uptrend even after it.
“So you got this competition of a lot of demand coming in, and we’re heading into a period where the supply will cut,” he said. “That is generally very bullish.”
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Mike Novogratz: Facebook’s GlobalCoin Won’t Rival Bitcoin

Mike Novogratz: Facebook’s GlobalCoin Won’t Rival Bitcoin
Galaxy Digital CEO Mike Novogratz recently talked about the current state of the crypto industry. Novogratz explained why the crypto winter is finally thawing and why‘Facebook’s ‘GlobalCoin’ won’t rival Bitcoin.
Mike Novogratz: Facebook’s GlobalCoin Won’t Rival Bitcoin

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Source: CoinSpeaker

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. 
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Source: CoinGape

Bitcoin Price Hits 5-Month High, Next Target at $6,000?

Bitcoin Price Hits 5-Month High, Next Target at $6,000?
Bitcoin price has spiked and pulled the entire crypto market up with it prompting analysts and proponents to suggest that it will test the $6,000 level in the next few weeks.
Bitcoin Price Hits 5-Month High, Next Target at $6,000?

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Source: CoinSpeaker

Billionaire Mike Novogratz Slams Litecoin: ‘Buy Bitcoin Instead’

Billionaire Mike Novogratz Slams Litecoin: ‘Buy Bitcoin Instead’
Litecoin retreats from the high close to $100 and gets stuck in a range. Sell Litecoin and buy Bitcoin, says Galaxy digital founder and CEO Mike Novogratz.
Billionaire Mike Novogratz Slams Litecoin: ‘Buy Bitcoin Instead’

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Litecoin [LTC] is a glorified testnet for Bitcoin; sell LTC and buy BTC, says Mike Novogratz

Litecoin [LTC], the Vegeta to Bitcoin’s Goku and the silver to Bitcoin’s gold, has been making headlines with news pertaining to its adoption, price, and upgrades. The fourth-largest cryptocurrency has been going north since the past two months, with the coin smashing some key resistances. Additionally, the silver coin gained momentum during the bull run that took place earlier this week, resulting in the coin breaching the $90 mark, while Bitcoin crossed the $5000 mark.
However, the coin’s surge was questioned by one of the well-known influencers in the space, Mike Novogratz. According to CoinMarketCap, at press time, the coin had taken the second position in terms of the biggest gainer in the past 24 hours, with a hike of over 6 percent. The cryptocurrency was trading at $86.87 with a market cap of $5.27 billion and a significant rise of over 40 percent in the past seven days.
The Founder of Galaxy Digital also prompted the community to sell their Litecoin holdings and buy Bitcoin. He tweeted,
“Gold has an $8.5 trillion dollar market cap. Silver is $15bn That is .17%. $BTC has a $90bn mkt cap. $ltc is $5.7bn which is 6.4% of $BTC. Silver is at least useful for industrial production. $ltc is a glorified test net for $btc. I don’t get this rally. Sell $ltc buy $btc”
Twitter user, Jon Moore, responded to Novogratz,
“Like most rich out of touch Billionaires you have No clue about the use case for payments. LTC is much cheaper to send, 4 times faster than BTC and is also compatible with Lightning Network. People actually use LTC dude!!”
Apart from this, some in the community have also pointed out upgrades such as MimbleWimble and the upcoming halving, whereas others stated that Litecoin’s transaction cost and speed were better than the digital gold, Bitcoin.

@naval, another Twitter user, said,
“Your general point stands. IMHO the gap exists because $LTC represents the scenario in which $BTC was the correct design, but a one-time flaw or external action takes down $BTC and leaves $LTC as the heir to the Shelling Point. Gold and Silver don’t really have that dynamic.”
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Source: AMB Crypto

Bitcoin Price Chart Shows How Surpassing Gold’s Market Cap Is “Easily” Feasible

Bitcoin, to many, is the digital equivalent of gold – one of the world’s first ever currencies, means of exchange, and stores of value. According to crypto bull Mike Novogratz, one day, Bitcoin’s market cap will surpass that of gold’s.
After the lofty prediction was made, crypto analysts took to Bitcoin price charts hoping to outline the trajectory that could take the first-ever crypto to a market cap of over $7.5 trillion. One crypto analyst, using Bitcoin’s long-term logarithmic growth chart, shows how BTC reaching such a feat is entirely “feasible.”
Mike Novogratz: Bitcoin Market Cap Will “Easily” Surpass Gold
This week, Galaxy Digital CEO and founder Mike Novogratz joined Morgan Creek’s Anthony “Pomp” Pompliano on the Off The Chain podcast he hosts. There, the outspoken crypto bull suggested that Bitcoin could “easily” reach a similar market cap as gold’s $7.5 trillion cap over the course of the next 20 years.
Related Reading | Precious Metals Firm Drops Crypto: Is the Bitcoin Digital Gold Narrative In Trouble?
Novogratz added that it would require BTC to “100x” from today’s prices of approximately $3,950, but clarified that crypto investors shouldn’t expect it get there “in the next year or two.” It’s a long-term goal for Bitcoin’s market cap, according to Novogratz.
Bitcoin Price Chart Shows Growth Trajectory to $7.5 Trillion Market Cap
Following Novogratz and his highly-publicized podcast remarks, crypto Twitter began digging into how Bitcoin price might eventually reach the heights discussed by the Galaxy Digital CEO.
Prominent crypto analyst Dave the Wave, known for his analysis of longer-term Bitcoin price charts and trend changes, shared a 50-year chart of BTC’s market cap using the logarithmic growth rate to highlight its path to $7.5 trillion.

Yes, according to the curve…. pic.twitter.com/TxyzgMQ4tt
— dave the wave (@davthewave) March 25, 2019

Considering the chart’s growth trajectory, Bitcoin can be expected to peak some time around the year 2045, and from there it will begin to stabilize. At that point, it will become a more realistic store of value and currency due to volatility  essentially disappearing from the asset.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
At such an astronomical market cap, the price per BTC would be near $360,000 each assuming all BTC is mined by the time the target is reached in 2045. Despite such a seemingly unrealistic number, the $7.5 trillion market cap of BTC would only represent a mere under 2.5% of the entire global wealth, which is currently at $317 trillion according to The Credit Suisse Research Institute’s Global Wealth Report.
If Bitcoin were to absorb much of the world’s transactional value by becoming the global currency for the internet as many believe it may, BTC may eventually reach the potentially “millions” in value that most cryptocurrency investors expect it to. It just won’t happen for another 25 or more years.
Featured image from Shutterstock
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Bitcoin [BTC]: Mike Novogratz says people should bow down to Satoshi Nakamoto and thank him

Bitcoin advocate and billionaire Mike Novogratz was in the news again after he said that people should bow down to Bitcoin’s creator, Satoshi Nakamoto, and thank him for the world’s largest cryptocurrency. A leading voice in the crypto ecosystem, Novogratz appeared in an exclusive video with the founder of Morgan Creek Digital, Anthony Pompliano.
Novogratz is of the opinion that all kinds of funds, be it crypto or hedge, should own some amount of Bitcoin. He also called the digital asset “sovereign money”. Talking about BTC’s fundamental technology, the blockchain, he added that Bitcoin, originally a social experiment, had become “sovereign money” and held a market cap of $71.80 billion.
Novogratz also drew parallels with gold, a store of value. Novogratz claimed,
“Bitcoin provides a really interesting alternative to gold.”
He was previously in the news when he claimed Bitcoin will eventually become the digital gold, at the MENA summit 2019.
Bitcoin’s prices rose to breach the $4,000 mark recently, following the recent market surge led by the market’s altcoins. There is architecture in place to facilitate adoption and accessibility, the billionaire said, predicting that over a period of twenty years, Bitcoin was going to be “in the game.”
Novogratz also serves as a member of the Investment Advisory Committee on Financial Markets, at the Federal Reserve Bank of New York. While talking about his first tryst with Bitcoin as a member of the committee, Novogratz said that the committee viewed cryptocurrency more as a payment system than a currency. However, many in the Federal Reserve did love the idea of blockchain technology as a store of value, he said.
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Source: AMB Crypto

Mike Novogratz: Another BTC Value Surge is About to Happen

Mike Novogratz: Another BTC Value Surge is About to Happen
As Bitcoin (BTC) is clinging on to its $4,000 price tag, major crypto figures are betting big on a potential bull run. However, it doesn’t necessarily mean that cryptocurrency investors should get too carried away by the recent price uptick.
Mike Novogratz: Another BTC Value Surge is About to Happen

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Source: CoinSpeaker

Bitcoin [BTC]: Architecture for rich institutions to safely store Bitcoin is being built, says Mike Novogratz

Bitcoin proponent Mike Novogratz, spoke at the MENA Summit 2019, where he discussed the volatility of Bitcoin and cryptocurrency markets and its transition into a store of value and a competitor for gold.
The world had witnessed a “once in a generational bubble in cryptocurrency” which was oozing with volatility, he said. He further added that volatility would eventually come back, some of it owing to U.S government politics.
Mike Novogratz also said that politics would create a period of volatility, affecting a rally where people would “buy the dip market and not stay long market.” Speaking about the drawbacks of the traditional markets, Novogratz stated,
“One of the real reasons everybody should have one percent of their portfolio in Bitcoin are these reasons. Bitcoin is becoming a digital gold and really the only crypto that has value just because it does. It is the hedge against these Minsky Moments…”
He continued,
“If we start having a real financial crisis, the breakdown in trust in government securities, then it’s going to skyrocket ’cause it really is hard money… it’s going to replace gold.”
Novogratz also said that Bitcoin’s store of value was one of the reasons why financial institutions were getting into the crypto-space.
Fidelity and NYSE are some of these institutions that have shown a liking towards Bitcoin. To this, Novogratz said that these institutions would become, “the architecture for the rich guy and rich institutions to safely store money in Bitcoin” in the upcoming future. He said that these two institutions would start by June and pension funds would also start accumulating Bitcoin in small amounts.
@JT_XRP, a Twitter user commented,
“Mike @novogratz is the biggest bag holder of $XRP; he promotes Bitcoin because he needs to unload his bags on naive new investors. After all, he has invested in the company @Ripple”
@DutchXRP, another Twitter user commented,
“I think he is saying: Regulation is US is coming by June. From that moment, these pension company’s can hold thes assets not their balance sheets.”
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Source: AMB Crypto

US Lawyer Compares Crypto Lending Firm BlockFi With 2017 ICOs

Cryptocurrency is on the upfront bulletins of almost every industry – as such a lending platform, BlockFi hit a new announcement introducing the compound interest rate to be paid in cryptocurrency – Bitcoin and Ethereum.
Crypto Interest Account
Accordingly, New-York based BlockFi published a blog post on March 04, 2019, announcing the launch of a new cryptocurrency account that supports two largest cryptocurrencies – Bitcoin (BTC) and Ethereum (ETH). Per the announcement, the account bears 6 percent annual interest that would be further paid in mentioned cryptocurrencies. In addition to this, monthly interest earned on an amount deposited will be then turned into compound interest, resulting in 6.2 percent annually. Nevertheless, it’s worth to add that its custodial solution is taken care of by Winklevoss’s Gemini Trust Company.

BlockFi offering 6.2% on both BTC and ETH deposits changes the game. Will be interesting to see if/how centralized crypto deposit takers and lenders impact #DeFi volumes overtime. A thread:
— Ryan Todd (@_RJTodd) March 5, 2019

Indirect War
While crypto enthusiasts perceive it as a potential way to increase the wealth, on the other hand, lawyers like Jake Chervinsky compares it with the ICO ecosystem. In his latest tweet, an indirect message that would direct you think on BlockFi’s part states;
If you think crypto lending platforms enable you to become a risk-free creditor & collect interest on any size loan at several hundred basis points above the target federal funds rate in perpetuity, then I have a bridge to sell you.
On top of all, in his continuous response to the conversation, he also claimed that the concept is capturing the crowd as ICO does in the year 2017. To note, there were many ICOs introduced and disappeared shortly when Bitcoin peaked to almost $20k in 2017.

In his words;

One would hope, but I’ve seen more than one marketing effort trying to push this idea on the same crowd that threw money at ICOs in 2017.
— Jake Chervinsky (@jchervinsky) March 5, 2019

It’s worth to add that many crypto enthusiasts didn’t support his view, in a similar context, one such user, Fontaine (@Fonta1n3) explains;
I think BlockFi provides a great service that allows anyone to obtain USD denominated loans at reasonable rates and earn interest denominated in BTC. Everything has a risk but if we are going to democratize finance this is a step forward. Financialization network effect starting.
Pomp and Mike Novogratz are BlockFi’s Investors
To note, the industry’s most influential figures are already the investor in BlockFi – this was revealed when a user doubt it as a pyramid scheme. To clarify user’s doubt, Morgan Creek’s Anthony Pompliano reveals that he himself and Mike Novogratz are the investors in BlockFi. However, the amount invested in the platform is out of sight but Pomp claimed that this is a custodial service. He says;

This is a custodial service that pays interest. Definitely possible to pay 6% and in fact, there are plenty of retail and institutional investors who have been using the product and getting paid already 🙂
— Pomp 🌪 (@APompliano) March 5, 2019

What’s your view on BlockFi? Do you agree with Jake or are you optimistic as Pomp? Share your thoughts with us.
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Source: CoinGape

Institutions Bet on Bitcoin Despite Year-Long Bear Market, Grayscale’s Report Reveals


Institutions Bet on Bitcoin Despite Year-Long Bear Market, Grayscale’s Report Reveals

Grayscale revealed that Bitcoin products were invested in most, with 66 percent of inflows received from institutional investors.

Institutions Bet on Bitcoin Despite Year-Long Bear Market, Grayscale’s Report Reveals

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Source: CoinSpeaker

Mike Novogratz Argues that Bitcoin Will Eventually Become Digital Gold


Mike Novogratz Argues that Bitcoin Will Eventually Become Digital Gold

Mike Novogratz has announced once more that he is confident bitcoin will become a store of value in future even overtaking gold for that purpose to become the ultimate digital gold.

Mike Novogratz Argues that Bitcoin Will Eventually Become Digital Gold

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Source: CoinSpeaker