Malta Entrepreneur has Installed the Country’s First Cryptocurrency ATM

Malta Entrepreneur has Installed the Country's First Cryptocurrency ATM

Malta Entrepreneur has Installed the Country’s First Cryptocurrency ATM

A Malta entrepreneur has installed the country’s first cryptocurrency ATM. The installation has occurred just days after local media reported that a start-up had launched a crowdfunding campaign to finance the country’s first bitcoin ATM.

The Cryptocurrency ATM Has Been Installed Days After a Crowdfunding Campaign Was Launched to Fund a Rival Terminal

A local Malta entrepreneur, Gabriel Cretu Torica, has installed the country’s first cryptocurrency ATM. The terminal has been installed outside a store in Sliema and facilitates bitcoin purchases and balances checks via QR codes.

 

Mr. Torica discussed the advantages of bitcoin and the speed of cryptocurrency ATMs, telling local media that “online exchanges often ask for ID verification, and that can waste up to 24 hours”. Mr. Torica also believes that the bitcoin ATM will inspire greater adoption of bitcoin in Malta. “Many people are still suspicious of bitcoin… I’m sure this will change over time as people realize the benefits”, he said.
 

Ivaj, a start-up and bitcoin cryptocurrency advocacy group championing bitcoin adoption throughout Malta, had already started a crowdfunding campaign seeking to raise finances for the purchase and installation of the island’s first cryptocurrency ATM. The crowdfunding campaign hopes to raise $6,000, with plans to install a second bitcoin ATM if more money than requested is received. If the campaign falls short Ivaj co-founder, Leon Siegmund, has pledged to provide the remaining required funds. Mr. Torica has stated that his bitcoin ATM had already been purchased but not installed when he heard about the crowdfunding campaign – which prompted him to contact local press.
 

The crowdfunding campaign is still active and has so far raised 6% of its total goal, currently having raised $368 from only 6 backers. The campaign will finish approximately one month from today. “We believe in Bitcoin’s potential and decided to invest time and effort in bringing the first Bitcoin ATM to Malta in order to unleash these opportunities to individuals, and society as a whole,” Leon Siegmund previously told The Times of Malta. “We’ve already identified a few potential locations, but it’s too early to discuss them now. What I can say is that it will either be in Valletta or in Sliema.”

 

Malta’s Government Has Previously Focused on Attracting Cryptocurrency Investment From Businesses

Malta’s central government has recently expressed great interest in embracing bitcoin, with the cabinet of malta approving the first draft for a national strategy designed to promote cryptocurrency and blockchain technology across the nation during April. Despite the bold rhetoric, the island still lacks basic infrastructure that will allow increased user adoption, as evidenced by the crowdfunding campaign for the nation’s first bitcoin ATM.

 

Malta’s government has predominantly focussed upon attracting cryptocurrency based businesses to register on their shores. Several government agencies participated in a conference hosted by PKF Malta this week that sought to “[bring] together a think tank of professionals representing a cross section of the market ranging from start-up success stories to crowdfunding, blockchain, [and] bitcoin.” The conference featured keynote speakers from Silicon Valley, and an audience predominantly comprised of representatives from Malta’s business and academic sectors.
 

David Ogden
Entrepreneur

 

Author: Samuel Haig

 

David – http://markethive.com/david-ogden

All Cryptocurrency Prices Today Have Volatile Swings

All Cryptocurrency Prices Today Have Volatile Swings

All Cryptocurrency Prices Today Have Volatile Swings
 

All Cryptocurrency prices were volatile today, and most were down as of 2:00 p.m., with the total value of the global marketplace falling from nearly $95 billion to roughly $86.8 billion over the last 24 hours.

The biggest story moving cryptocurrency prices today (Tuesday) was renewed fear over a potential August fork in Bitcoin that could split the currency. Bitcoin Cash has announced plans to proceed with a fork. BCC is generating support ahead of its planned first day of trading in August.

Two exchanges – Bithumb and Kraken – have confirmed plans to list BCC, despite offering a press release for confirmation.

Meanwhile, Japanese exchanges have resumed operations after a shutdown needed to prepare for a possible disruption in Bitcoin.
 

Below is a recap of cryptocurrency prices at 2 p.m. EDT…

Bitcoin: $2,566.24, -6.25%

Ethereum: $205.64, -8.39%

Ripple: $0.17, -9.09%

Litecoin: $42.00, -5.38%

Dash: $195.55, -6.01%

 

Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…

Bitcoin Prices Today: Bitcoin Slides Below $2,600

Bitcoin prices dropped again as concerns about a potential fork reemerged on Tuesday.

A hard split for the currency is still on track for Aug. 1. Bitcoin will be split into two new coins, Bitcoin Core (BTC) and Bitcoin Cash (BCC).

 

Ethereum Prices Slide Despite Airline Boost

Ethereum prices followed Bitcoin lower Tuesday on heavier than usual volume. Prices fell from highs of about $225 after several days of lackluster activity. Still, there has been plenty of bullish news in the industry. PJSC Siberia Airlines announced it has used the Ethereum blockchain to sell tickets. The company has also said it will consider the acceptance of Ethereum and other cryptocurrencies in the future.

 

Ripple Prices Follow Bitcoin Lower

Ripple prices dipped on the day, with the market capitalization falling beneath $6.7 billion. Ripple prices were down 9% on the day.
 

Litecoin Prices Drop on Cryptocurrency Sell-Off

Litecoin prices also slumped but have been a bit more muted due to news that the currency is becoming more mainstream in its trading.

 

Dash Prices Slide Despite Apple Store Optimism

Dash prices fell more than 6% due to a broader sell-off in the cryptocurrency sector. Dash still remained the fifth-largest cryptocurrency by market capitalization at $1.456 billion due to larger downturns in Ethereum Classic and NEM.

Dash prices had been rallying in recent days after Apple announced it had reviewed an appeal to allow the cryptocurrency to be used in the Apple Store.

 

David Ogden
Entrepreneur

Cryptocurrency Entrepreneur
 

Author: GARRETT BALDWIN,

David – http://markethive.com/david-ogden

Austrian Post Offices Sell Bitcoin, Ethereum and More For Cash

Austrian Post Offices Sell Bitcoin, Ethereum and More For Cash

Austrian Post Offices Sell Bitcoin, Ethereum and More For Cash

Post offices in Austria are offering bitcoin, Ethereum, Litecoin and Dash in exchange for cash through “bitpanda to go,” a startup that focuses on making the purchase of cryptocurrencies easy. Users can purchase 50 €, 100 € or 500€ worth of cryptocurrency from the Osterreichische Post branches.

Post offices in Austria are offering bitcoin, Ethereum, Litecoin and Dash in exchange for cash through “bitpanda to go,” a startup that focuses on making the purchase of cryptocurrencies easy. Users can purchase 50 €, 100 € or 500€ worth of cryptocurrency from the Osterreichische Post branches.

The 1,800 post branches provide cryptocurrency purchasers a receipt that can be entered on bitpanda.com/togo. The website also posts the current exchange rate for the respective currency. There are no additional fees.

Users need a valid email address to set up an account. They select which cryptocurrency they want to purchase and enter a code. The selected amount is then transferred to the user’s wallet.

 

Fair Prices For Offline Purchases

Bitpanda, formerly known as Coinimal, seeks to provide fair prices for offline purchases of cryptocurrencies. The Österreichische Post AG allows bitpanda to offer the digital assets at cost. Hence, the fee structure by offline purchases via cash matches “online” options. This provides cryptocurrencies a more acceptable image in the minds of those who view Internet commerce less favorably.

Bitpanda was founded as Coinimal in October 2014 by bitcoin enthusiasts who had experienced how hard it was to acquire bitcoin in the European Union. This deficiency in the market led to the idea of Coinimal.

 

A Versatile Platform

Last year, Coinimal introduced a “sell” feature to enable users to convert ETH back to fiat as an easy way to buy and sell Ethereum using a bank account. The process of buying and selling ETH can otherwise be time-consuming since most exchanges are either U.S.-based or primarily offer ETH-to-BTC trading. There are nine funding options and withdrawals using PayPal, NETELLER, Skrill or SEPA transfer.

Coinimal rebranded as bitpanda in 2016 and introduced its own bitcoin wallet. Last month, bitpanda built an Ethereum wallet into its platform. It has also added Litecoin and Dash.

 

David Ogden
Entrepreneur

David Ogden Cryptocurrency Entrepreneur

 

Author: Lester Coleman

 

David – http://markethive.com/david-ogden

Market Turns Green

Market turns green

Market Turns Green

The cryptocurrency market takes a turn to the green, led by Ethereum and Bitcoin.

After two days of the so-called ‘crypto correction’ in the final days of June, the wider cryptocurrency market is seemingly back on a comeback trial as all top ten cryptocurrencies by market cap make gains over a 24-hour period.

According to CoinMarketCap, all but two of the top 50 cryptocurrencies have taken a positive turn during Tuesday’s trading period. At press time, only Bytecoin, the original anonymous crypto which made a 250% jump in May and Ardor, a blockchain-as-a-service platform, see their respective tokens fail to make gains at the top half of the table.

 

Ethereum leads the way among the big dogs, with a near 8% gain as Ether prices return to hitting above $275. Bitcoin, up over 2%, is trading just above $2,475. Ripple, Litecoin and Ethereum Classic are following the trend. Dash, at #7 on the crypto-ranks, is up nearly 13% at over $170 per DASH.

 

Today’s upward gains will come as respite during a dramatic few days for the cryptocurrency market. Rewund back to mid-June, the entire cryptocurrency market cap had struck $117 billion. At its lowest point on Tuesday, the combined market cap of all cryptocurrencies in circulation had fallen to $88 billion – a wipeout of $29 billion in two weeks. Monday, in particular, saw 92 of the top 100 cryptos hit red, with the IOTA’s IOT token and Ethereum taking the biggest falls.
 

Tuesday didn’t start off on sound footing either, as Ethereum fell nearly 20% to a low of $227.14 today, a near 4-week low. A mainstream rumor that Ethereum founder Vitalik Buterin died in a car crash didn’t help matters.

 

Ultimately, the downturn that began on Sunday evening could have ultimately proven to be the pause the market needed following significant gains in recent months. A breather helps. It never was, nor will ever be a sprint. It’s summer time, after all. Everyday investors, having helped boost entire cryptocurrency market leap from $28 billion in mid-April to a dizzying $117 billion in mid-June, could be closing their positions for profits during summertime.

 

“All that really happened today was some newcomers and bull traders got discount coins,” wrote CCN’s P.H. Madore amid Monday’s gloom. For others, these last few days have merely been an exercise of holding on.

David Ogden
Entrepreneur

 

Author: Samburaj Das

 

 

David – http://markethive.com/david-ogden

Why Just Holding Cryptocurrency Will Change the World

Why Just Holding Cryptocurrency Will Change the World

Why Just Holding Cryptocurrency Will Change the World

 

Cryptocurrency, digital assets run by blockchain distributed ledger technology, have some pretty revolutionary features and use cases. They can cheaply and permanently send wealth faster than anything else. They can cryptographically prove your identity. They can run self-executing smart contracts instead of relying on an enforcement mechanism when people don’t keep to their deals. But what if I told you that one of the most world-changing things about digital currencies is simply having some?

 

Crypto is new

 

The first, best, and most basic benefit of wealth generated by digital assets is that it’s new. Even if this new money was no different from anything currently out there, just by being new it provides a valuable fresh start to the current wealth distribution. When you hit the reset button, there’s a chance at a new bunch of people getting in at the bottom and making it big. Seeing a fresh set of faces on the rich list is better than having the same few families and groups maintaining an iron grip on the world’s resources generation after generation.

 

Anyone with basic technological access can get into crypto

 

The big barrier to entry when delving into the world of digital assets is internet access. However, this group of people currently stands at about half the global population and quickly rising. More importantly, the regions seeing the greatest growth in internet users are, in descending order: Africa, the Middle East, Latin America, and Asia. Anyone with a basic internet connection can download a wallet app or get a desktop wallet. At that point they can sign up to an exchange to buy cryptocurrency, or go the more grassroots route and buy in cash from someone they know (or a service like Wall of Coins or LocalBitcoins that connects such people) or work for it. Since the internet is global, so is the work that it can facilitate, and with it a borderless form of wealth transfer allows people in the poorest countries to be paid alongside those in the richest. Compared to other investments, the barrier to entry is very low, particularly for the unbanked.

 

Crypto attracts a certain kind of person

 

This is where we get into the uncomfortable territory of painting with a broad stroke, but it’s still important to consider. Generally speaking, cryptocurrency enthusiasts tend to be technophiles, innovators, nonconformists, activists, and liberty lovers. It makes sense, too: those seeking an alternative to the present financial system probably have a problem with the current regime to begin with, and even those who don’t will tend to display intellectual curiosity and a dash of courage to venture off the beaten path into uncharted territory, especially with something as risky as their money. Whichever kind of person we’re talking about, it’s probably a good idea to give them wealth rather than to some of the people who have it already, particularly in countries without a free economy where the entrepreneurial can’t get ahead.

 

Regulation, where existent and applicable, has minimal effect

 

There’s one big problem with the current financial system: control. The few at the top, whether in government, banking, or an industry powerful enough to influence the first two, effectively direct what happens to everyone else’s money. The average person is helpless when they can have their bank account frozen, their cash devalued or reissued (or discontinued altogether), and their investments taxed or seized. Even a physical asset such as gold can be confiscated and have its supply and exchange severely limited. Cryptocurrency, when run in a truly distributed fashion as Bitcoin’s mysterious creator intended, is highly censorship-resistant, requiring an area-wide internet shutdown to provide any meaningful chance of being stopped. Regulation can just make it harder to own and use crypto through legitimate channels. For some fun anecdotal evidence, remember that even Venezuela has a cryptocurrency exchange.

 

Dash in particular builds longer-term, harder to censor wealth

 

If you look at the cryptocurrency charts long-term, you’ll see that holding pretty much any digital token can make you rich at this point. However, Dash in particular has demonstrated, in addition to stable and consistent growth, a few extra benefits. To begin with, anyone with the foresight to run a masternode back when it was $5,000 (or less) to do so is now sitting on almost $200,000 that makes over $1,250 per month in recurring income as a reward for helping to run the Dash network. Those of us (almost all of us at this point) who can’t afford to buy into that level of recurring income can look into a masternode share with some trusted third party (not as good as running something yourself, but still better than a bank). In the future, Dash has savings accounts planned, which will allow anyone to make recurring income off of their investment. And, let’s not forget that you can move Dash around for a couple pennies per transaction, and can spend it at hundreds of places worldwide, lessening your need to hold other, lesser forms of money.

 

Now remember, this is just what cryptocurrency can do for the world if you do nothing but get some and hold on to it. Imagine what will happen when we start leveraging the technology for all it can really do. The future is exciting indeed.

 

David Ogden
Entrepreneur

 

Author: Joël Valenzuela

David – http://markethive.com/david-ogden

What Do UK Election Results And Brexit Mean For Cryptocurrency Value

What Do UK Election Results And Brexit Mean For Cryptocurrency Value

What Do UK Election Results And Brexit Mean For Cryptocurrency Value

The United Kingdom’s Conservative Party failed to secure a clear majority in the UK election on Thursday. The political upheaval surrounding Prime Minister Theresa May sent shockwaves throughout the economy. The New York Times reports London’s position as a “dominant global financial center” could be jeopardized. According to CNBC, by Friday morning the British pound dropped to the lowest value it has had in months: $1.2632.

"The financial markets had almost already priced-in a hard Brexit and will now have to quickly reassess their position,” Nigel Green, CEO of the financial consultancy deVere Group, said in a press release. "As this adjustment takes place we can expect the uncertainty in the financial markets not only to continue but to intensify.” Although the pound is expected to recover, recent developments in London raise questions about the future of global fintech markets. Will the U.K. elections increase growing demand for cryptocurrency like bitcoin?

The pound has long been considered a “safe haven” currency for international investors and people with long-term savings. The London-based founder of BitcoinAfrica.io, Alexander Lielacher, wrote in a blog post that he is optimistic the British government will invest in blockchain as it moves away from the European Union.

“Since the UK government will lose out of tax revenues from its traditional banking sector as banks are moving operations to the Eurozone,” he wrote on the cryptocurrency site BTCmanager. “It is not too far-fetched to think that the government may put more effort into supporting its tech and, more so, the fintech sector.”

The U.K. is one of the few places in the world with a regulatory fintech “sandbox,” a nimble legal structure that is particularly advantageous for blockchain businesses. “The party that can protect the fintech industry is one that can negotiate a Brexit that causes the least amount of damage to the UK financial services and technology industries,” British fintech expert Elizabeth Lumley told Forbes before the election.

Plus, even bad news for the pound could be good news for cryptocurrencies like bitcoin and ether. The Telegraph reported Hargreaves Lansdown, the U.K.’s largest online trading platform, will soon let customers invest in bitcoin. Meanwhile, Coinfirm, a blockchain compliance and analytics platform based in London, told International Business Times the British company is currently working on a partnership with the American company CSI Capital Management to support blockchain assets and cryptocurrency investments. An uptick in British customers with bitcoin pensions could set a precedent for international blockchain pensions.

The number one reason why cryptocurrencies and blockchain technology aren’t widely adopted yet is because of confusion over regulatory standards. Coinfirm aims to provide a standardized and blockchain agnostic platform, which means it is integrable and technically compatible with everything from bitcoin to Ethereum, Dash and Ripple. “Brexit smexit,” the startup’s CMO Grant Blaisdell told IBT over Skype. “It’s only going to add fuel to it. Any time there is instability it’s going to add more fuel and more reasons to back this [blockchain] ecosystem.”

It’s too soon to say how British politics will impact the global demand for cryptocurrencies. But people like Coinfirm’s CEO, Pawel Kuskowski, don’t appear concerned the shift in British politics will undermine their regulatory safe haven, at least not the fintech ecosystem. Kuskowski told IBT in an email that London will continue to reign as the global capital of the blockchain ecosystem. Brexit or moves towards isolation may drive traditional banking institutions away, but it could also increase the flexibility and strength of the U.K.'s regulatory independence.

"The British pound will be always connected to the performance of the economy," Kuskowski's statement said. "Institutions may find solutions for international transfer of funds and commerce using blockchain and cryptocurrencies. This something that has to be seriously explored as blockchain could provide a serious benefit in a time like this for the U.K."

Article by Leigh Cuen

 

David Ogden
Entrepreneur

 

David – http://markethive.com/david-ogden

Billion Dollar Cryptocurrency Club Swells to Six Members

Billion Dollar Cryptocurrency Club Swells to Six Members

Billion Dollar Cryptocurrency Club Swells to Six Members

Bitcoin’s market cap surpassed $37 billion today when the price hit $2271.16, commanding more than a billion in trade volume in a 24-hour period, according to coinmarket.com. The total value of the coin market is now at $81.3 billion, as the last two days added more than $10 billion to the capitalization.

Bitcoin’s value has almost doubled in the last month, even while its market share has fallen below 50%, thanks to the gains of other cryptocurrencies. Bitcoin’s gains have been steadier than most of the altcoins, but collectively, altcoins are rising at a faster pace.

Asian Trading Remains Key

Rising demand for bitcoin by Chinese and Japanese investors combined with falling stocks and other factors to push bitcoin to new heights. Because the Japanese yen holds the largest share of bitcoin trading, Asian trading pushes the prices higher.

The Nikkei Asian Review today reported, “Bitcoin going mainstream as Japanese business signs on,” signaling bitcoin’s growing popularity in Japan, which recently recognized bitcoin as a method of payment.

Asian interest in bitcoin increasingly carries over to other currencies, as indicated by the gains for Ripple and NEM, the two most popular altcoins in Japan in terms of demand and trading volumes.

Japanese regulators also decided to abolish the 8% consumption tax on transactions of bitcoin bought from exchanges, which is set to go into effect in July this year.

Progress On Scaling Continues

Today’s announcement that a majority of bitcoin miners have reached a consensus to deploy the Segwit2Mb protocol upgrade for bitcoin also bodes well. Bitcoin’s rise has benefited from an alleviation of the fear that a “hard fork” will be needed – dividing bitcoin into two currencies – to improve bitcoin transaction times. A successful deployment of an alternative scaling solution indicates the hard fork that would have resulted in two separate currencies in order to speed up bitcoin transactions may not be required.

Wences Casares, CEO of bitcoin wallet Xapo and a member of PayPal’s board of directors one bitcoin would hit $1 million before the next ten years while speaking at the Consensus 2017 conference in New York.

Ethereum Continues To Amaze

Ethereum, the largest altcoin, hit more than $16 billion market capitalization with a $179.68 price, followed by Ripple at more than $13 billion. The top three cryptocurrencies — bitcoin, Ethereum and Ripple — are the only players to boast more than $10 billion market cap.

Ethereum has witnessed the fastest growth of any digital currency ever. Not even two years old, the platform is now worth more than $16 billion with its trading spaces consistently attracting more online active users than even bitcoin’s.

Ripple, designed for enterprise use and can be used by institutions for on-demand liquidity for cross-border payments, also continues to post rapid gains. Banks and payment providers that use XRP will secure better access to emerging markets at lower settlement costs.

Ripple recently committed to placing 55 billion XRP in a cryptographically secure escrow account at the end of the year, addressing concerns that it will eventually sell its 61.68 XRP as it seeks to strengthen XRP’s exchange rate against other currencies.

NEM, number four commands a $2.299 billion cap, followed by Litecoin at $1.575 billion and Ethereum Classic at $1.02 billion.

There are now six cryptocurrencies with more than $1 billion market caps.

Altcoins Keep Shifting Position

Aside from bitcoin, the rotation shifts fairly frequently among the billion dollar players. A day ago, Litecoin, Monero, and Dash displaced Ethereum and NEM, with gains of 15%, 20%, 25%, respectively.

NEM, number four, commands a $2.299 billion cap, followed by Litecoin at $1.575 billion and Ethereum Classic at $1.02 billion. There are now six cryptocurrencies with more than $1 billion market caps.

NEM has also made significant gains over the past few months. A major factor that has allowed NEM to transform into one of the most popular altcoins in Japan is its development team and company composed of Japanese founders and talents. NEM was initially developed and introduced in Japan by Makoto Takemiya, the co-founder and CEO of Soramitsu, the company that has also introduced the Iroha blockchain project to the Linux foundation’s Hyperledger Project.

Litecoin, one of the oldest altcoins, gained visibility this month because of its successful activation of SegWit, a scaling solution that circumvents the need for a hard fork.

 

David Ogden
Entrepreneur

 

Author Lester Coleman

David – http://markethive.com/david-ogden

Cryptocurrency Bubble?

Cryptocurrency bubble ?

Cryptocurrency Bubble ?
 

Some credible sources are citing a possible "cryptocurrency bubble", as the prices of coins and tokens rocket and the fever for initial coin offerings (ICOs) continues unabated. All this stuff involves the technology known as blockchain, so it's all broadly related, but there are also certain distinct phenomena to consider.

On the one hand, we are seeing a massive increase in the price of Bitcoin, ether, Dash, Z-Cash, Monero, what have you.

Also surging is the ICO trend, which involves many new startups issuing and selling their own tokens (often oversubscribed with speculative buyers) as a way to crowdfund the building of yet another use-case focused blockchain system.

One theory behind the dramatic increase in the value of existing "altcoins", as in alternatives to Bitcoin, such as Dash or Litecoin, is that Bitcoin is approaching its limit and as a result users are now forced to pay increasingly high fees to use the Bitcoin network. Indeed, users are paying transaction processors additional Bitcoins to prioritise their transactions among the many thousands that are queued in a backlog, termed the 'mempool'.

Preston Byrne, COO of Monax and a fellow of the Adam Smith Institute, recently wrote about this: "The cryptocurrency market as a whole is interesting from an economic perspective in that it provides a perfectly transparent sandbox to see what happens when perfectly substitutable goods (Bitcoin clones) that accomplish the exact same thing (unregulated value transfer) in a fully automatic way (distributed state machines which require no human oversight) are placed in a position to compete.

"As far as an end-user of cryptocurrency software is concerned, whether a c-currency is $3000 in Dogecoin or $3000 in Bitcoin is immaterial; the shop round the corner prices its goods in USD/GBP/EUR, so as long as one coin or the other has sufficient liquidity to cash out, this means competition can occur on the basis of speed and transaction fees."

According to trading experts, the crypto ecosystem has been fleshed out lately with more cross pairs and on-ramps from the fiat world. There is a roll in roll out trade from Bitcoin to crypto and back as the markets inflate on both sides of the trade.

Charles Hayter, CEO, CryptoCompare, said: "Last year it was fairly easy to predict buying of Bitcoin through fiat and then into crypto. The cross pairs and markets have matured to offer direct Ethereum and Litecoin buying in a number of fiat pairs and this is increasing the options for traders to enter and exit positions. That said, Bitcoin is still the direct port in a storm for the entire industry.

"You are also seeing the arrival of new nations to the crypto sphere with their own bespoke approach to local regulatory issues et al – South Korea is a perfect case in point as they have taken the number three spot in terms on direct fiat to Ethereum trading.

Hayter said another interesting trend has been the dislocation of markets premia / discounts across pairs have widened. "This has been exacerbated by the Chinese regulatory issues as well as Wells Fargos hiatus on international transfers connected to Bitfinex and USDT. New markets tend to sit at premiums, as direct fiat flow spikes prices with exit routes from dead pools of money trading at a premium for exiting the exchange," he said, adding, "bubble – to an extent."

However, as far as ICOs are concerned, many prominent people in the industry believe this is fast becoming pure bubble territory and will end in tears (and probably some actions by the SEC). Someone who would go the record about token sales is angel investor and author William Mougayar, who is organising the Token Summit in New York on May 25.

He said: "In the history of technological cycles, if you follow economist Carlota Perez's thinking, nothing great happens without overshooting during the installation phase of a given technology, before moving into the adoption phase.

"We are clearly in the installation phase of cryptotech, and there is nothing we can do to prevent this overshooting from happening. It's just human nature at play.

"Of course there are ideas, protocols, start-ups and applications currently being launched that will not make it long term, but out of all this activity, some great ones will emerge."

Byrne of Monax has been as staunch a critic of ICOs as anyone ("the equivalent of selling people rows in a database"). But he concluded by saying that, amid all the froth, the way blockchains perform is truly impressive.

"Even relatively obscure systems with a fairly low level of developer input, such as Dogecoin, continue to survive and thrive under the circumstances. This is a ringing endorsement of blockchain technology as a very capable way of automating financial process flows with maximal security and minimal supervision.

"In the enterprise blockchain space we benefit directly from observing the failings and successes of public blockchain systems, which allows us to deliver more value to our clients in the permissioned/regulated applications they ask us to build. All in all, it's great," he said.

 

David Ogden
Entrepreneur

 


 

By Ian Allison

 

David – http://markethive.com/david-ogden

Hefty Trading Boost Cryptocurrency Market Cap Soars Above $40 Billion

Hefty Trading Boost Cryptocurrency Market Cap Soars Above $40 Billion

Hefty Trading Boost Cryptocurrency Market Cap Soars Above $40 Billion

 

Bitcoin may be getting most of the headlines, but cryptocurrency as a whole is on a roll. Statistics from Coinmarketcap.com reveal that 82 out of the top 100 cryptocurrencies posted gains in a recent 24-hour period. Whether all cryptocurrencies are riding bitcoin’s coattails or investors are suddenly discovering altcoins is anybody’s guess.

The total cryptocurrency market capitalization (price per coin times amount of coins in circulation) stands at $42.6 trillion. That marks more than a $10 billion gain in 10 days.

Ripple Leads In Growth Rate

Among the currencies with a market capitalization in excess of $1 billion, Ripple has posted the top growth rate of 33.6% in a 24-hour period, yielding a $2.831 billion market cap. Litecoin comes in second with a 22.34% growth rate and $1.132 billion market cap.

Ripple’s gain has been credited to a strategic partnership initiative, teaming with Asian and Australian banks in conjunction with its stated goal of acting as PayPal-like mechanism for large interbank transfers.

Litecoin, for its part, has benefited from Coinbase’s decision to support it, allowing users to buy, sell and store Litecoin using its platform and wallet. It became the third cryptocurrency, after bitcoin and Ethereum, to gain Coinbase’s full support.

What Drives Bitcoin?

Bitcoin, far and away the largest market cap in excess of $25 billion, posted a 5.81% 24-hour jump. Bitcoin’s price reached a new all-time high once again, at $1,567.

Brian Kelly, a financial analyst at CNBC, has attributed the recent surge in bitcoin’s price to the rise in institutional investors within the bitcoin market. Other factors include the bitcoin community’s consensus not to support Bitcoin Unlimited, and an overall increase in global trading.

Some analysts have attributed some of bitcoin’s growth to that of the altcoins; altcoins are usually bought and sold with bitcoin, requiring traders to buy bitcoin.

Ethereum Has Its Own Story

Ethereum, which has the second highest market cap at just over $8 billion, has jumped 12.12% in the 24-hour period. Its price rise is due to a number of factors.

Google searches for Ethereum have spiked to an all-time high, nearly doubling in just one week.

Some countries appear to be using ETH a hedge against national currencies. Switzerland, where the Ethereum Foundation is based, showed the strongest interest, followed by Venezuela, which is suffering triple-digit inflation.

South Korea seems to have fallen in love with the currency. Its three largest exchanges handle twice the ETH/fiat volume of Coinbase’s GDAX and Kraken combined.

South Korea is also big into fantasy sports, an area where ETH’s smart contracts can be used to make the game more transparent and reduce cheating.

Don’t Forget Dash

Dash, number 5 with a $683.3 million market cap, jumped 6.77% in the 24-hour period. Featuring exceptional transaction speed, Dash continues to become more accessible to investors and consumers.

The cryptocurrency exchange Kraken recently announced the integration of Dash to its trading platform. BitCart, an Ireland-based discount gift card platform, recently allowed users up to a 20% discount for using Dash on Amazon purchases. Crypto-Woo, a payments plug-in, has integrated Dash, allowing users to pay for online purchases with Dash. CryptoBuyer, a Venezuela-based crypto exchange, has begun selling Dash, allowing consumers in the economically ravaged country to have another alternative to its imploding national currency.

Ethereum Classic, number six at $664.4 million, rose 8.97%.

NEM, at %521.7 million, jumped 9.5%.

Monero, number 8 at $371 million, rose 8.76%.

The top 14 cryptocurrencies all posted gains in the 24-hour period. PIVX, which at $84.1 million has the 15th highest market, cap posted a 3.16% drop.

David Ogden
Entrepreneur

David – http://markethive.com/david-ogden

Top 10 Alternatives to Bitcoin

top 10 alteratives to Bitcoin

Top 10 Altenatives to Bitcoin

Blockchain currency is revolutionizing money. Since Satoshi Nakamoto unveiled his cryptocurrency in 2008, we’ve witnessed a proliferation of digital cash companies and codebases. Utilizing his public, distributed ledger, dozens of promising currencies have emerged. Only a select few have proven themselves as true contenders to Bitcoin, however.

Here are the top 10 altcoins on CoinMarketCap (note that the list is changing constantly, especially in the tail part, with other altcoins like MaidSafeCoin, Golem and Augur playing musical chairs with others):

ETHEREUM

J.P Morgan Chase, Microsoft and Intel allied in order to create the fiercest rival to Bitcoin in circulation today: Ethereum. The main purpose of the endeavor was to program binding agreements into the Blockchain itself. This incarnated into the now-popular smart contract feature.

Interestingly, Ethereum is not just a currency. It’s a Blockchain platform powered by the Ether cryptocurrency. The New York Times describes the technology as “a single shared computer that is run by the network of users and on which resources are parceled out and paid for by Ether.”

RIPPLE

Ripple attracted a great deal of venture capital during its inception. The Google-backed altcoin startup managed to pull in upwards of $50 mln from banking institutions, gathering an impressive $90 mln in total funding. Ripple is unique in that it allows for transacting with any unit of value, from fiat currency to frequent flier miles.

“Ripple provides global financial settlement solutions to enable the world to exchange value like it already exchanges information giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, instantly and with certainty of settlement,” reads the company’s copy on their official website.

Initially a middling contender, Ripple has gained momentum in the cryptocurrency market, seeing a marked surge earlier this year. In fact, Ripple experienced a 100 percent increase in value within a 24-hour period in late March.

LITECOIN

Former Google engineer Charles Lee created this altcoin in an effort to improve upon Bitcoin. Namely, the speed to generate a new block is improved dramatically. Transactions are much faster. By the same token, however, this speed makes Litecoin’s Blockchain larger and more prone to producing orphaned blocks.

DASH

Dash, a combination of the words “digital” and “cash,” is the Internet’s cash-in-hand. Dash is quick. Its transactions are instant. “Your time is valuable. InstantSend payments confirm in less than a second,” Dash claims. By comparison, Bitcoin’s transactions can take up to an hour to process.

GPU/CPU mining is no longer cost effective. In order to mine, you’ll need specific hardware, computers known as ASICs to complete Dash’s proof-of-work puzzles.

NEM

NEM is written in Java; built on an entirely new codebase separate and apart from Bitcoin’s open-source code. There are a few other intriguing differences from Bitcoin as well. In NEM, you harvest rather than mine. It’s essentially the same as mining in Bitcoin, only that multiple people profit – albeit in much smaller quantities – from a generated block.

NEM introduced the proof-of-importance algorithm to the digital ledger. A user’s wealth and number of transactions are used to timestamp transactions.

NEM has seen rapid growth in its valuation since the beginning of 2017 as the altcoin is currently being embraced in Japan.

ETHEREUM CLASSIC

A parallel Ethereum platform exists and sustains a sizeable usership with a market cap hovering just below $430 mln.

Why do two versions of the same platform exist?

The Ethereum community fractured when a disagreement over how a technically legal theft of funds should be handled. The majority of users wished to change Ethereum’s code in order to get the lost funds back. A minority believed that Ethereum should not be tampered with or altered by third parties. Even in cases of users exploiting the smart contract feature to trick others, the Blockchain must remain “immutable.” Thus, the minority created the Classic version of Ethereum, which still survives and thrives.

MONERO

Monero is geared toward those who desire greater anonymity. The cryptocurrency allows you to “send and receive funds without your transactions being publically visible on the Blockchain.” Transactions are completely untraceable due to Monero’s leveraging of ring signatures. Unfortunately, because of Monero’s emphasis on privacy, it has seen adoption by the darknet and other criminal organizations.

ZCASH

Zcash, like Monero, offers greater privacy to users. Unlike Monero, transactions are shielded rather than made completely private. Meaning, the details of the transaction itself, such as the users involved and the amount traded, are hidden. Zcash does this by using a “zero-knowledge” proof that allows for parties to exchange funds without revealing each other’s identity.

DECRED

Decred’s primary aim is to focus on “community input, open governance and sustainable funding and development.” The currency melds proof-of-work and proof-of-stake mining algorithms to ensure a minority of users do not own the majority of the funds and that decisions are led by the community rather than a handful of developers or early investors.

PIVX

PIVX stands for Private Instant Verified Transactions. Another open-source decentralized Blockchain currency, it is built upon Bitcoin Core. Like Zcash and Monero, PIVX boasts its heightened privacy and security.

“We believe that you have the right to exchange privately and securely, without interference from corporatocracy pressures, governmental influences, prying eyes, and nefarious individuals and movements,” PIVX contends.

PIVX is highly volatile, experiencing massive spikes in trading volume and valuation as of March of this year. Again, because of the currency’s emphasis on privacy, PIVX is susceptible to criminal activities.

Cryptocurrencies, Bitcoin and the altcoins it has spawned, may bring about a new global economy. They allow us to transact in a peer-to-peer fashion, without third-party bodies governing us. Bitcoin introduced the Blockchain, but other developers are quickly improving upon Nakamoto’s idea. Some currencies have focused on speed, as is the case with both Ripple and Litecoin. Others have honed in on privacy, currencies like Zcash going so far as making all transactions private and untraceable. Each altcoin comes with its own strengths and weakness. Surely, we’ll discover more as time goes on. For now, these 10 currencies are at the top. Their fate could turn, however, at a flip of a coin.

 

David Ogden
Entrepreneur

 

Source: cointelegraph.com

David – http://markethive.com/david-ogden