Bitcoin Price Hits New 2019-High, Moves Past $10,700 Levels

Bitcoin Price Hits New 2019-High, Moves Past $10,700 Levels
In a massive price rally, Bitcoin bulls pushed the cryptocurrency above $10,700 level making new highs for this year. Crypto experts think Facebook’s Libra launch has helped to drive this rally.
Bitcoin Price Hits New 2019-High, Moves Past $10,700 Levels

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Source: CoinSpeaker

Bitcoin Price Could Hit $62K This October, Says Analyst

Bitcoin Price Could Hit $62K This October, Says Analyst
Here’s how the analysts are predicting higher targets for Bitcoin price based on the strengthening technical charts, growing fundamentals, and higher institutional participation.
Bitcoin Price Could Hit $62K This October, Says Analyst

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Source: CoinSpeaker

Nothing will Stop Bitcoin from Disrupting Gold – Tyler Winklevoss

With the ongoing Bitcoin bull market, many have speculated that the cryptocurrency will soon replace gold as a store of value. Co-Founder of Gemini exchange, Tyler Winklevoss says there is no reason why Bitcoin will not disrupt the gold market.
Source: Twitter
The Bitcoin-gold struggle
Gold has been the top store of value for centuries now. Until now, it has not met any real competition but Bitcoin is about to replace it. This is what many important persons in the cryptocurrency space believe. Keiser Report Host Max Keiser earlier this month in an interview with Kitco News said although Bitcoin is relatively new, it is coming up to a level of maturity that will threaten gold.
Also in a more recent interview with Wells Fargo’s Head of Real Asset Strategy John Laforge cautioned investors against getting too comfortable investing in gold as the price is not performing as expected. According to Laforge, cryptocurrency should not affect the gold price because they are quite new and he expected gold to appreciate despite the surge in Bitcoin price.
Gold, however, has been complacent despite the volatility that has hit the market and that is not characteristic of a good store of value, he added. Although he did mention other metals such as Polonium, crypto enthusiasts still count this as a potential advantage for Bitcoin.
Also Read: Roger Ver Strikes Back at “Dropgold” Proponents, Says Bitcoin is Digital Fool’s Gold
The Dropgold Campaign
Digital Currency Group (DCG) Founder Barry Silbert has been working aggressively on his Dropgold campaign to further the adoption of Bitcoin while reducing patronage for gold. Silbert’s campaign has been quite successful, currently airing on National TV in the United States. With this in place and the skepticism coming from a major gold-friendly company like Wells Fargo, Bitcoin might really have a chance at disrupting the gold industry in the near future.
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Source: CoinGape

Winklevoss Twins Bought 200000 Bitcoins @ $7: Author of Bitcoin Billionaires

The Social Network movie was released in 2010, which told the untold story about the beginning of Facebook. Until that time, Mark Zuckerberg was already a billionaire and was successfully running the largest social media platform in the world.
Out of many others who contributed to Facebook apart from Mark showcased in the movie, the Winklevoss Twins, Cameron and Tyler, were one of them. They had accused Zuckerberg of actually stealing the idea from them and then making it his own.
Also Read: Not Facebook, Cryptocurrency Will be The Strongest Social Network: Cameron Winklevoss
Moreover, the story of the founding of Facebook on which the movie is based was written by Ben Mezrich: The Accidental Billionaires. He has released another book on the identical twins from that story, Bitcoin Billionaires. 
Bitcoin Billionaires is the story of these two brothers after their legal battle with Mark Zuckerberg over Facebook. The American Olympic rowers were apparently always ahead of the innovation curve; first with Facebook and now Bitcoin. 
Reportedly, the brothers received a settlement of about $500 million in stocks and signed a Non-disclosure agreement. Ben Mezrich said that the twins spent just $1.4 million when they bought about 200,000 Bitcoins at $7 each during its early days. He told CNBC in an interview,
“They bought about 1% all of Bitcoins. At $20000, they were worth $4 billion and at $8000 they are worth close to $2 billion.”
On Bitcoin and cryptocurrency, Mezrich has confidence in cryptocurrency due to its viability and innovation. Furthermore, since Bitcoin is the first most popular solution in the space and Winklevoss twins are pioneers of the space. He decided to write a second book on Winklevoss twins after The Accidental Billionaires.
Also Read: ‘Cryptocurrency is not Going Away’: Winklevoss Twins Talk About their Early Days in Bitcoin
According to Mezrich, the duo is absolute ‘believer’ in Bitcoin and they have worked towards building viable solutions for its trading with the Gemini Exchange.
Do you know about other early purchasers of Bitcoin? Please share your story with us. 
The post Winklevoss Twins Bought 200000 Bitcoins @ $7: Author of Bitcoin Billionaires appeared first on Coingape.
Source: CoinGape

Bitcoin Must ‘Decouple’ From Altcoins Before the Next Bull Run: Experts Opinion

Bitcoin and the cryptocurrency markets have been coupled together for almost a year now. That is to say that the Bitcoin markets have largely dominated the direction of the markets. Moreover, the dominance of Bitcoin over the cryptocurrency markets has also been consistent around 50% since 2018.
According to expert Bitcoin analyst and CEO of Civickey, Vinny Lingham,
It’s easy to argue that Bitcoin can be worth $10k or $20k, or even $100k, but the problem is that as the price has been rising towards those levels, we’re not seeing Bitcoin dominance increase disproportionately.
Declustering and Decoupling of Bitcoin and Cryptocurrency Markets
Even before the previous bull run of 2017, the dominance of Bitcoin experienced a roller-coaster ride in 2017. The percent dominance of Bitcoin fell from over 85 to as low as 32.5 during the peak. Therefore, the altcoins gained substantial value proportional to Bitcoin.
Bitcoin Dominance Over Crypto Markets since 2017 (Coinmarketcap)
Furthermore, even today the cryptocurrency projects including Bitcoin (BTC), Ethereum (ETH) and EOS (EOS) are in the development phase. Moreover, institutional support and custody improvements for Bitcoin or couple of industry does not favor the other Blockchain and cryptocurrency projects apart from market sentimental value.
“The key indicator for the start of a sustainable bull run is likely a decoupling of asset values from Bitcoin (i.e. Bitcoin’s strength weakens other networks or vice versa). Anything else is just speculation again (maybe we need another bubble to learn more lessons?)”
The most significant rift in the cryptocurrency is the existence of a plethora of altcoins which are mostly manipulated by the market or reportedly being ‘wash traded’ on Cryptocurrency Exchange. In 2017, there was more than 20 hard forks conducted on Bitcoin after the Bitcoin Cash (BCH) hard fork.
Recently, the Crypto-Twitter community went against one such unnecessary fork, Bitcoin SV, whose lead proponent also claimed himself to be ‘Satoshi Nakamoto.’ Finally, the majority of the Exchange like Binance, Shapeshift and Kraken have decided to discontinue BSV or Bitcoin Cash SV [BCHSV] on their portals.
Tyler Winklevoss, an early Bitcoin investor and the founder of Gemini Trust commented on the issue satirically in a recent tweet,
“JUST IN: @Gemini never listed $BSV in the first place.”
Furthermore, more than 2000 crypto-projects are listed on coinmarketcap which are more often than not traded on the Exchanges w.r.t to Bitcoin, i.e., through BTC trading pairs. Hence, it is imperative that the cryptocurrency markets are swept clean by regulation or market effects like delisting and community visions.
A leading Position’s Trader popularly known as Bitcoin Macro on Twitter noted on the issue,
Until all the garbage is gone and cleaned out, the bear market won’t be over.
Do you think that the dominance of Bitcoin will increase or the all-season with start like before? Please share your views with us. 
The post Bitcoin Must ‘Decouple’ From Altcoins Before the Next Bull Run: Experts Opinion appeared first on Coingape.
Source: CoinGape

Cameron Winklevoss elaborates why cryptocurrency revolution is in dire need of rules

Winklevoss twins are among the prominent players who have contributed to the crypto revolution with the stablecoin Gemini USD and the upcoming exchange, Gemini. The twins addressed a topic that is somewhat a pariah in the cryptocurrency ecosystem, rules.
The twins launched a campaign not so long ago regarding “the revolution needs rules”, which received mixed feelings from the community as some people pushed it back while others understood the need for rules. In a recent tweet, Cameron Winklevoss addressed the same topic. He stated:
“Some have wondered why @Gemini believes the Revolution Needs Rules. Answer: Crypto doesn’t need rules, but the companies built on top of it do. See excerpt from court-appointed monitor’s (Ernst & Young) third report filed in Nova Scotia Supreme Court re: QuadrigaCX matter”
He clarified this in a subsequent tweet with the example of QuadrigaCX. The exchange allowed the editing of its internal ledger to move customer funds into new accounts. Insiders were even allowed to move these funds and trade with them.
Cameron tweeted:
“Every incident in crypto to date has been/would have been PREVENTABLE w/ proper rules and thoughtful regulation… Regulatory oversight = making sure people do what they say they’re going to do.”
There have been a large number of exchanges that have used users’ funds for personal profit and insider trading. The recent death of the CEO of QuadrigaCX exchange proved that the crypto revolution needs rules to keep such corporations and entities on track.
@jStepahnop1, a Twitter user, commented:
“Insider manipulation definitely needs to be stopped on crypto exchanges for sure and commend you guys for your work in that department, as long as it does not filter down to inhibiting the inherent freedoms crypto provides for everyday people”
@cryptomanusa, another Twitter user, added:
“Why so against Craig Wright? He appears all about the rules. I have seen zero proof of scamming rather significant intelligence with possibly an annoying personality.”
The post Cameron Winklevoss elaborates why cryptocurrency revolution is in dire need of rules appeared first on AMBCrypto.
Source: AMB Crypto

Gemini Exchange’s Winklevoss brothers ask users to trust them with storage of private keys

Gemini Exchange’s famous twins, Cameron and Tyler Winklevoss have said that storing private keys can be a problem for some users, asking users to trust them with these keys. In a recent video uploaded on YouTube by Transhumanism Videos, one of the Winklevoss brothers claimed that most people failed to secure their e-mail accounts.
Terming that as a ”fact,” he went on to say that people shouldn’t try to store their private keys, considering they are “longs strings of digits”. Hence, the Winklevoss brothers said, storing private keys should be left to them.
The duo asserted that most people who owned private keys ”screw up” and lose the password to their private keys, or lose their laptop. They added that the exchange was designed to make storing keys and trading with the digital asset a seamless experience.
Citing the fact that while some people want to store their keys with an institution ‘that they trust’ and some want to keep it with themselves, one of the brothers said,
“..the coolest thing about cryptocurrency though is that you can have it both ways. If you want to store your private keys, you can do that, if you want to use Gemini, you can do that.”
Further, when asked if the exchange company posed as a threat to banking institutions, the duo said that they viewed the technology protocol powered Gemini as a crypto-native company, and not a bank.  Hence, they did not pose any threat to banks. They specified that the company was trying to extend the financial system by acting as a conduit between the existing world and the new world of cryptocurrency. He also said that the banking establishment and Gemini work together, despite having widely different business models.
The brothers said,
“We have taken US Dollars and put them in the Blockchain in the form of Gemini Dollar Token [GUSD] enabling users on the platform to send dollars to any part of the world.”
The post Gemini Exchange’s Winklevoss brothers ask users to trust them with storage of private keys appeared first on AMBCrypto.
Source: AMB Crypto

Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin

Gemini cryptocurrency exchange, led by American rowers and Internet entrepreneurs – Cameron and Tyler Winklevoss are on bulletins again. As per the latest report, a Brazilian bank ‘BTG Pactual’ intends to utilize ‘Gemini dollar’ by partnering with Gemini cryptocurrency exchange.
Bank Step Ahead with Digital Token
Per the reports and the statement by CEO Tyler Winklevoss, the Banco BTG Pactual (a Brazillian investment bank) aims at utilizing ‘U.S.dollar backed stabelecoin which is a Gemini dollar introduced by one of the largest trading platform – the Gemini exchange.

“The tokenization of real assets is a major step forward in the evolution of the #crypto economy. Working w/ BTG Pactual to leverage GUSD as the stablecoin for ReitBZ helps move the industry in the right direction” – our CEO @tylerwinklevoss via @coindesk
— Gemini (@Gemini) February 22, 2019

With this initiative, the bank steps ahead to raise millions of dollars via security tokens offering. Particularly, it targets $15 million and further plans to establish a ‘secondary market’ to serve better liquidity to the tokens. The essence of Bank offering tokens is that ‘it enables investors to contribute to the Brazilian real estate market’ wherein the international investors can purchase their native token called ‘ReitBZ (RBZ).
“The technology associated with this offering allows us to be a pioneer in providing access to asset classes that have historically been difficult for global retail investors to access. We are constantly exploring innovative ways to promote, democratize and encourage the development of financial and capital markets.” Said Bank CEO – Roberto Sallouti,
So inconsequent to the partnership, Gemini dollar will be the stablecoin for Bank’s ReitBZ. To note, Gemini is already a regulated platform and quite often encourage regulations via their promotional strategies. Furthermore, the bank with the collaboration would receive investment capital and ‘distribute dividends on ETH blockchain platform. It said that the Bank would work in compliance with possible AML and KNY requirements as well.
Addressing the similar context, Gemini CEO Tyler Winklevoss said;
“The tokenization of real assets is a major step forward in the evolution of the crypto economy. … Working with BTG Pactual to leverage the Gemini dollar as the stablecoin for ReitBZ helps move the industry in the right direction,”
What do you think about BTG Pactual Banks’ collaboration with Gemini exchange? share your opinion with us. 
The post Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin appeared first on Coingape.
Source: CoinGape

Professionalism in Crypto is Desperately Needed and Gemini is Setting Industry Standards

This week, prominent U.S.-based crypto exchange Gemini revealed it had become the first-ever cryptocurrency exchange and custodian to successfully complete a System and Organization Controls (SOC 2) for Service Organizations Type 1 examination.
The SOC 2 examination was conducted by “Big Four” auditor Deloitte & Touche LLP, and helps cement Gemini’s reputation for pushing the envelope for cryptocurrency compliance and regulation, and its status as an industry standard-setting leader in the crypto space.
Gemini Completes SOC 2 Exam, Proving Compliance and Security Prowess
SOC 2 reviews are a financial industry standard for determining if a service organization – such as an exchange – are up to speed on security compliance, and are equipped to keep customer’s funds safe. Currently, only Gemini has the bragging rights that their exchange demonstrates a high enough level of security to pass Deloitte’s review.
Gemini says that the exchange was built with a “security-first mentality from the start,” allowing the exchange to easily meet the benchmarks in Deloitte’s examination, which are set by the American Institute of Certified Public Accountants.
Related Reading | Gemini Launches Mobile App, Says Crypto Is Here to Stay
The SOC 2 explored Gemini’s infrastructure, exchange application, customer database, and the exchange’s “institutional-grade cryptocurrency storage system.”
Gemini’s goal with the review was to provide additional assurance for investors and regulators alike that any funds stored on the exchange are safe and secure – something that is desperately needed in an industry plagued with record-breaking levels of hacks and theft. The firm also plans to conduct the review annually, and is seeking a SOC 2 type 2 examination some time in 2019. 

Gemini Is Setting the Bar for the Crypto Industry
Gemini co-founders Cameron and Tyler Winklevoss are early Bitcoin supports and are among the few executives who are working tirelessly to elevate the crypto industry both in the eyes of investors, as well as in the face of key financial market regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission.
In addition to the recent SOC 2 completion, Gemini also offers digital asset insurance from London-based global professional services company Aon. According to a press release, Gemini was approved after “demonstrating to underwriters that the company is a leading, best-in-class exchange and custodian.”
Related Reading | Winklevoss Twins Believe Bitcoin Will Surpass Gold, Remain Leading Crypto
The insurance provides peace of mind for investors using the Gemini platform, as any assets stored on the exchange are covered by Aon. Gemini also insures USD deposits through the Federal Deposit Insurance Corporation that often insures the funds at traditional institutions such as banks and credit unions.
The Winklevoss twins are also in support of cooperating with regulators to improve the state of the crypto industry. Last year, the twins proposed the creation of a Self-Regulatory Organization that could help govern the crypto industry in the United States, and alleviate regulator’s concerns that the crypto industry is rife with risk for investors.
The duo were also said to have attended a closed-door meeting with executives from Nasdaq and more to discuss further legitimizing the industry.
Gemini’s work to improve the overall industry is desperately needed during a time when cryptocurrency exchanges are repeatedly hacked, and crypto-related theft climbs to new heights.
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Source: New