The world’s first decentralized cryptocurrency bank, AriseBank, announced that they have reached an agreement with a Federal Deposit Insurance Corporation (FDIC) insured bank that has been in operation in the US for over a century. The acquisition, in addition to a partnership with Bitshares, will occur before the end of the year. The FDIC is… View Article
Archives for December 15, 2017
Bitcoin has remained relatively stable this week, slowly heading up from $16,500 to around $17,500 where it currently trades. Action is likely to heat up over the weekend as two more US exchanges launch their BTC futures contracts. This week has also shown some clear winners in the altcoin race, and one of them has… View Article
Most of the action this week has been with the altcoins and Bitcoin has been relatively stable. Ethereum, Litecoin and Ripple all reached record highs and have hugely expanded their market capacities. Bitcoin has slowly inched up from $16,400 to around $17,600 where it currently trades, things could heat up again over the weekend though as more futures contracts will be launched.
The start of futures trading on the Chicago Board Options Exchange has been slow and steady. More significantly it has been hailed as a turning point for Bitcoin and crypto currency giving it more recognition with a little long overdue regulation and transparency. This elevated status will be given a further boost in the coming days as two more players enter the game.
The Chicago Mercantile Exchange, a much larger exchange than the CBOE, will launch its Bitcoin futures on Sunday. It is expected to attract higher volumes and a higher dollar value of trading so Bitcoin prices could well hit $20,000. The third exchange to offer Bitcoin trading is TD Ameritrade which controls the largest futures operation of any online brokerage firm. The company recently announced that it will allow Bitcoin futures contracts on its platform on Monday. This will result in a lot more liquidity and a lot more participation from retail traders.
Clients must have a minimum balance of $25,000, in order to participate in the futures according to the brokerage. The margin requirement will also be 1.5 times what the CBOE requires. JB Mackenzie, managing director for futures trading at TD Ameritrade, told Bloomberg:
“Right now we are taking the same approach we did with the Cboe product, to wait and see how it goes. We want to watch that market open and become an orderly marketplace and see who the participants are in that marketplace. This is the same process we use with any new product. We want to see how the market reacts.”
Volume on the CBOE contracts that have been trading over the past week has been a little on the low side according to a CNBC report. Around $60 million in notional value has traded each day on average. Compare that to the last 24 hours in the Bitcoin market which stands a volume of $12 billion according to Coinmarketcap.com.
The majority of crypto currency traders are based in Asia, outside the US where futures contracts are not available and the digital currency is traded directly. Only when the heavyweights such as JP Morgan Chase and Morgan Stanley allow their clients to trade crypto currency will things really heat up for institutional investors. Even so, there is still likely to be more action on the Bitcoin charts this weekend, get ready for the ride!
Photo courtesy of Reuters.
An initial coin offering (ICO) promoted by boxing champion Floyd Mayweather, Jr., is at the center of a newly filed class-action complaint.
Singapore, London, Hongkong, December 15, 2017 — After a successful completion of its global launch, Taurus Coin now announces its proprietary exchange TRC Exchange for the public. This marks another achievement for Taurus Coin.
The aim of launching its own TRC exchange platform is to become a one-stop shop for TRC users as it will satisfy the demand for people interested in Taurus Coin. TRC Exchange would offer low-cost, high turnover trading in an environment designed specifically for Taurus Coin traders.
Launching of our own exchange platform will also ensure that Taurus (TRC) will be listed on a world-class trading platform.
TRC exchange will be a huge success for Taurus Coin holders, as it will leverage on Taurus’s current infrastructure and client base. Additionally, once it is fully operational. Users can expect a new level of empowerment through an open source platform connecting users socially and financially to a secure, protected community of investors and lenders.
Taurus Coin will also provide peer-to-peer electronic monetary system based on cryptography that is like Bitcoin yet will function unlike Bitcoin. It exhibits properties similar to physical currencies, however what makes it distinct is that it allows for instantaneous transactions and borderless transfer-of-ownership.
How to earn profits with Taurus Coin?
Lending: Almost no price fluctuation. Profit is paid daily, and monthly profit is up to 45%
Trading: Make use of price fluctuation to earn profit
Mining: By using algorithm POW or POS
Staking Earning profit just by holding Taurus Coin on your Desktop Wallet
Who would need Taurus Coin?
- Online business and retailing stores
- Powerful API for Payout’s Automation
- Individuals who do not want to use cash
- Checkout for merchants
About Taurus Coin
A breakthrough digital solution related to money transaction. Taurus Coin is a kind of digital cash that you can use to make your payment or any money transaction whenever and wherever you travel. By using Taurus Coin, your e-commerce business, private payments, your online business, your retailing store can speed up its money transaction with both clients and suppliers, therefore, which allows you to save money and even boost your business growth. Trust Taurus Coin and start using our secure open-source platform hosted by thousands of users around the world right now.
For more information: visit: www.tauruscoin.com
With the myriad of ICOs being launched every few days, investors are now fed up with the run of the mill altcoins that are simply replicas of each other. They lack creativity. Investors are now looking for ICOs that offer a unique proposition that is not based on the same overused technology. Enter BitherCash coin.
Unlike most of the altcoins that rely on the Ethereum Virtual Machine, BitherCash coin is based on a proprietary blockchain that is an amalgamation of both the proof-of-work and the proof-of-stake algorithm. The blockchain has a lot in common with the Bitcoin Core but with several changes to adopt some features of proof-of-work. The blockchain has been written in Script language. As a result, many of the Bitcoin advantages are present in BitherCash.
Apart from a solid architecture, BitherCash Coin has attractive features. The blockchain is completely decentralized to allow the platform users to have access to the transaction blocks. This prevents any case of internal fraud that plague most centralized platforms. Additionally, the ledger is encrypted and synchronized across all devices on the platform. As a result, everyone has a record of the transaction. It provides the first true notion of a personal bank for users.
Bithercash is a Pure Lending Platform
Security is also an important consideration for the platform. BitherCash Coin provides unparalleled security to users on the platform by using pseudonyms to mask the identities of the users and encrypting information to prevent hackers from accessing sensitive information. Additional features like KYC and AML will be added in line with the regulatory measures being added in European and North American countries.
The blockchain has been designed to provide the world a platform where payment processing has been streamlined, and peer-to-peer remittance has been made as easy as possible. This has been achieved by using API clusters that allow low latency transfer. This means that the platform supports high speed and high-volume transfer of coins. These features are expected to endear it to the cryptocurrency community.
Investors will also be able to make money in a variety of ways on the platform. They can make money by trading BitherCash Coin with other cryptocurrencies on major exchanges. This offers decent margins for cryptocurrency traders. The robustness of the platform means that there is little likelihood of collapse. Another avenue investors can make money is by holding BitherCash Coin until it appreciates. Most proof-of-work platforms tend to appreciate in value. As a result, investors can simply buy BitherCash coins and wait until it appreciates. Finally, they can make money by staking the coin. Since it has elements of the Proof-of-Stake architecture, investors can lend the coin and wait while it appreciates.
BitherCash Coin is a truly unique proposition in a market where most altcoins are relatively the same. As a result, it is expected to attract the attention of many serious investors. The Pre-ICO is expected to start on November 28th, 2017. Investors can make a decent profit by buying coins at discounted prices during the ICO. There will also be a 45-day ICO starting December 5th, 2017. If you are an interested party, you can create a wallet and take part in the Pre-ICO and ICO by visiting the website. bithercash.com
The Financial Oversight Stability Council acknowledged that virtual currencies are becoming more common, but have a limited impact on the economy.
After critical feedback from the ethereum community, Parity Technologies will not follow-up on any of its proposals for restoring frozen ether funds.
Yesterday, one post set the Bitcoin subreddit on fire: An anonymous Bitcoiner who goes by the name of “Pine” announced that they are establishing the Pineapple Fund to donate 5,057 BTC, worth about $86 million at today’s exchange rate, to charitable causes.
“I’m very happy that I have held on to most of my bitcoins until today,” Pine told Bitcoin Magazine. “Most early adopters of bitcoin actually don’t have much. They’ve sold to pay bills and expenses.”
Indeed, last week it was revealed that Bitcoin evangelist Andreas Antonopoulos was one of those who had not been in a position to hold his early coins long enough to reap the rewards. In a subsequent outpouring of appreciation, Bitcoin enthusiasts sent him donations of more than 100 BTC, equivalent to more than $1.7 million.
In this same spirit of giving back, Pine is sharing their own newfound wealth.
“Sometime around the early days of bitcoin, I saw the promise of decentralized money and decided to mine/buy/trade some magical internet tokens,” states the Pineapple Fund website. “The expectation shattering returns of bitcoin over many years has [led] to an amount far more than I can spend. What do you do when you have more money than you can ever possibly spend? Donating most of it to charity is what I’m doing.”
Some charities that are already receiving donations from the Pineapple Fund include Watsi, The Water Project, EFF, MAPS, SENS Research Foundation, charity: water ($1 million each), BitGive ($500,000) and OpenBSD ($50,000).
Have you heard?! Yes, it’s TRUE! We received an extremely generous donation of $500K from the Pineapple Fund!! HUGE THANKS!! Pineapple Fund has announced the most significant #philanthropic gesture EVER in #bitcoin to donate over 5,000 BTC! 🎉🌟🌍🚀 pic.twitter.com/fRL8NL3YzI
— BitGive® (@BitGiveOrg) December 14, 2017
Pine has a long history in the cryptocurrency world and started out mining on an old home PC. “I discovered bitcoin back when it was a small community of people trying to turn a toy project into a new decentralized monetary paradigm,” they told Bitcoin Magazine.
“It’s shorter to list the things I haven’t done in the cryptocurrency space. I’ve even created my own cryptocurrency; however, I can’t name it.”
The Pineapple Fund is planning to work with a nonprofit to help administer the fund. In spite of recent trends toward various forms of decentralized, crowdsourced decision-making, that’s not in the plans.
“We’re not huge fans of the crowdsourcing approach,” explained Pine. “It does not solve a problem we’re facing now, and there would be many challenges we’d have to solve with crowdsourcing decision making.”
Pine is convinced that what the world needs is peace, love, unity and respect. They listed medical research, mental health, wildlife and environmental conservation, fighting domestic violence and sexual abuse, sustaining basic necessities, and technology-related causes (advocacy and open-source projects) as main areas of focus.
“Why these? Well, it’s not that I think they are the most important or have the highest impact, because I think everyone has a different set of values,” explained Pine. “They align with my values, and I think any contribution to those causes will bring some good to this world we all share.”
Pine said they won’t become actively involved in the charities and projects they support: “As much as I would like to, I have other ventures that I’m busy with,” they said.
Will Pine ever share their real identity? That’s unlikely. “I prefer keeping my identity a mystery. The Pineapple Project isn’t about publicity. In fact, zero people in my life know that I’m behind it. It’s better for people to think you are well off than super rich.
“But I can share my love for pineapple,” they added. “I once ate so much pineapple that I suffered an allergic reaction and had to go to urgent care! Don’t do that.”
The post Meet “Pine,” the Bitcoin Philanthropist Who Set Up the $85 Million Pineapple Fund appeared first on Bitcoin Magazine.
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