David Marcus, head of the Calibra team, the portfolio for LibraCoin, said that the recent withdrawal of seven companies from the Libra Association has no impact on the project. In an interview with Yahoo Finance on Oct. 15, Calibra's David Marcus argued that Facebook's cryptocurrency project is "absolutely not" at risk after PayPal, Visa, MasterCard, Stripe, eBay, Mercado Pago and Booking left the Libra Association. The wicket is not closed Marcus stressed that companies outside the association will still be able to offer LibraCoin services: "One of the misunderstood things is that you don't have to be a member of the Libra Association to create services and products [related to Libra]. So if Visa and MasterCard want to issue Libra wallet cards at a later stage, they can still do it without being members of the association." The Calibra executive further expressed his respect for the seven companies' decision to abandon the project and also thanked them for having the courage to be associated with such a controversial project, even though they tried to cooperate. Marcus also said that he understands that the companies have a responsibility to their shareholders, who "were under a lot of pressure." "This has nothing to do with regulatory concerns," he added. According to Marcus, the departure of the seven companies has nothing to do with regulatory concerns, as the LibraCoin project "complies with all the regulatory and oversight requirements required to make it work." However, he also acknowledged that the Libra issuance process will continue to be difficult and will become even more so. He believes that members of the association should feel passion, energy and have the fortitude to move forward. The news comes after the official founding of the Libra Association in Geneva, Switzerland on October 14. The entity was eventually formed with a different composition than it originally had. However, companies such as Uber, Lyft, Coinbase, Spotify and Vodafone remained among the founding members. As we reported, Libra as an association hopes to attract a total of 100 members before the currency's public launch, which is scheduled for the first half of 2020. However, the exact date is not known. At one point there were even reports that the project in general will not be created.... Tags libra libracoin MasterCard PayPal libra association Visa
Monday, May 31, 2021
LibraCoin is not at risk, believes David Marcus
Polish fund Kvarko invests million PLN in artificial intelligence
Kvarko Fund, which aims to support innovative start-ups, has invested 1 million PLN in Deepstributed. This company, in turn, deals with the development of artificial intelligence, among others, creates a platform for conducting experiments related to machine learning. Kvarko bets on modernity Wroclaw-based fund Kvarko believes in success of Deepstributed. The company is currently building a platform for conducting experiments related to machine learning (ML), using distributed computing resources and users' graphics cards. The solution is expected to be revolutionary for the industry as it will make such activities cheaper. "In contrast to other cloud computing solutions, the Deepstributed platform is a true hybrid cloud, dedicated to projects using artificial intelligence, combining the advantages of using public and private clouds and their own local and distributed computing resources" - Kvarko's project was conveyed to Money.pl. - Efficient operation of IT systems in industries using AI and Big Data depends on efficient algorithms that analyze and process data, often in near real time. Existing solutions often require the use of computing centers and supercomputers of the latest generation, as well as the purchase or lease of expensive server farms, which makes them expensive and time-consuming - says Dr. Paweł Wielgus, President of the Kvarko Fund. - The Deepstributed platform, integrated with most clouds available on the market, changes certain paradigms in the field of machine learning, facilitating and popularizing access to this technology. This will enable the expansion of its application spectrum and ultimately accelerate development in many industries, he adds. Deepstributed Deepstributed is a startup founded by a group of experts in machine learning and cloud computing. The company is also a member of the Swiss gas pedal MassChallenge. Its offices are located in Wroclaw and near Lausanne. - The popularity of cloud computing is growing faster and faster. In a few years, the vast majority of companies using ML will move their operations to the cloud. The competition is fierce, so what matters is not only appearing on the market, but also gaining advantage through innovation of the solution - says Paweł Świątek, PhD, president and co-founder of Deepstributed. - Thanks to Kvarko's investment, we will be able to intensify our work on the development of the platform - mainly resource management methods, task queuing and implementation of advanced techniques ensuring security and confidentiality of transmitted and processed data - he adds. Tags polish startups artificial intelligence machine learning
Elon Musk joined the BTC discussion on J.K. Rowling's profile
On Friday, there was a high-profile discussion on Twitter. Writer J.K. Rowling asked what bitcoin is. Fans of digital currencies tried to explain to her what the genius of cryptocurrencies is. The author of the Harry Potter books unfortunately admitted that she still doesn't understand the subject. That's when he stepped into the arena: Elon Musk. All in white... Elon Musk and Bitcoin Musk revealed that he owns 0.25 BTC. He confirmed that he has been farming the funds. And this despite the fact that he recently announced that he was selling almost all of his physical assets (on the other hand, BTC isn't physical, so it's not hard to see why he kept it). The billionaire probably revealed how much Bitcoin (BTC) he has in order to encourage J.K. Rowling to buy even a token amount of cryptocurrencies. Besides, in response to Rowling's Twitter post, he pointed out that today "massive issuance of money by central banks makes online currencies [such as] Bitcoin look solid compared [to fiat currencies]." Whether he convinced the writer of BTC with this remains to be seen. After all, this one slowly seems to be highly annoyed with the attitude of BTC fans. In the meantime, CZ from Binance joined the discussion as if "next door". However, he thinks that the writer is probably "still a muggle". Musk with a quarter of BTC Musk's statement that he holds 0.25 BTC suggests that he has decided to keep the funds, despite allegedly "selling almost all the physical stuff" he owned. Musk is another billionaire who admits to owning BTC. We also know that Tim Draper, a living legend in the VC industry, or the Winklevoss twin brothers, whom the world has come to know thanks to the fact that they were, so to speak, the originators of Facebook, have long been investing in this market. They even have their own cryptocurrency exchange. You can always check the current exchange rate for Bitcoin and other cryptocurrencies at bitcoin.co.uk. Places where you can buy Bitcoin and other cryptocurrencies include BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags bitcoin Elon Musk jk rowling
Swiss lawmakers propose to treat bitcoin like a foreign currency
The Swiss parliament is considering passing a postulate requesting that bitcoin be treated like any other foreign currency. The goal of the postulate, authored by Representative Thomas Weibel, is to eliminate ambiguity and increase transparency in the law related to bitcoin. If the postulate is approved by parliament, it will be submitted to the Swiss Federal Council, the country's main executive institution. If the Council agrees that bitcoin should be treated like other foreign currencies, it will also assess the feasibility of implementing the postulate. In addition to this, the Council has been asked to explore potential bitcoin-related opportunities in the Swiss financial sector. The postulate asks the executive to answer four basic questions: whether bitcoin presents opportunities for the financial sector, whether it should be treated like a foreign currency, what regulatory measures should be in place to ensure clarity in the law related to bitcoin and similar currencies, and what kind of regulatory changes are necessary and when they can be implemented. The post was jointly signed by 45 members of parliament (out of a possible 200), after they concluded that bitcoin could create new opportunities for the Swiss financial sector and that action should be taken in terms of regulating VAT and enforcing money laundering controls. Over the next few weeks, members of parliament will vote on the demand. Later, if a majority of the parliament votes in favor, the demand will be officially submitted to the Swiss Federal Council. If the Council responds favorably, it will also have to make its position clear to regulators such as Finma, the Swiss Securities and Exchange Commission. If all goes according to plan, bitcoin could virtually be recognized as a full-fledged foreign currency in Switzerland. Such a move would drastically reduce the amount of legal uncertainty among bitcoin users, at least in Switzerland itself, namely the Swiss banking sector. It would allow Swiss authorities to apply already existing legislative procedures for foreign currencies to bitcoin and other digital currencies. Luzius Meisser, president of the Bitcoin Association Switzerland, told CoinDesk reporters: "This would be quite revolutionary as it would increase the legality of bitcoin and could set a precedent for other countries. It would also build ground for companies that want to use bitcoin in Switzerland without legal ambiguity." According to Meisser, it is likely that the demand will "pass" through parliament, given that about 25% of its members have acted as signatories. A partial English translation of the postulate was posted on the Bitcoin Talk forum. Back in September, Jean Christophe Schwaab of the Swiss Socialist Party said that the only people in Switzerland who know about bitcoin are "computer geeks, criminals and special police units" and that there is currently very little or no public discussion about the digital currency. It seems that Schwaab has changed his attitude towards bitcoin to a more positive one, since he also signed the post with his own signature. Meisser explained: "I spoke with him and he told me that he has changed his mind about taking bitcoin out of the law for the time being, but he remains skeptical overall. The very fact that he has co-signed this new, positive post is very nice." Schwaab stated that he is "very happy" that a sizable portion of MPs already know what bitcoin is and are concerned about possible regulation. "I hope that the government's response will provide us with basic information about bitcoin and its regulation in other countries, which would enable a fair, political discussion. I signed on to the proposal because it is my contribution to this important discussion," Schwaab concluded. Co-authors Emily Spaven and Nermin Hajdarbegovic. Source: http://www.coindesk.com/swiss-lawmakers-bitcoin-foreign-currency/ Translation: diabLEEca Tags bitcoin parliament Switzerland
Crypto.com: PayID, Pay Checkout, iphones to win and many other surprises
What happened this time in the world of the Crypto.com platform? Ahead of you is another summary of news about this company! PayID on Crypto.com PayID is a universal payment identifier that from now on allows more than 5 million Crypto.com users to send and receive cryptocurrencies within any network, thus connecting more than 100 million consumers worldwide. In practice, this means that users of the Crypto.com platform can consolidate their various wallet and account addresses into a simple identifier that works across any payment network and in all currencies. "Users who sign up for their unique PayID will receive an exclusive, easy-to-read Crypto.com branded ID - such as 'your_name $ payid.crypto.com - that allows users to send/receive cryptocurrency payments from other compatible wallets with just one ID, making it easy for them to connect with more than 100 million cryptocurrency users worldwide," - praises the company's new service. Crypto.com Pay Checkout The "Crypto.com Pay Checkout" service is available on Nop Commerce! This in turn is an open source eCommerce platform that works with more than 60,000 online stores that operate in over 40 countries worldwide. Their merchants can now accept BTC, ETH, LTC, XRP and CRO from over 30 million users. iPhone to be won Crypto.com also wants to give away as many as 20 iPhone 12 Pro's to its customers. To get the smartphone: buy cryptocurrencies on the Crypto.com app, use your Visa credit or debit card, do it by October 31! You can find more details here. Croeseid The Crypto.com Chain project has just released the first version of its new test chain called Croeseid, featuring a new code base based on the Cosmos SDK. Currently, as many as 50 validators have already joined the chain and have processed over 350,000 transactions in total. WBTC on Crypto.com There are also new pairs related to WBTC on Crypto.com. Since a few days you can trade WBTC in pairs with USDT and BTC. Crypto.com with EGLD Crypto.com Exchange also offers EGLD token from now on. You can trade EGLD in pairs with USDT and CRO. Tags Crypto.com iphone Visa
12 years ago the Bitcoin manifesto was published
Today marks exactly 12 years since the publication of the famous Bitcoin White Paper, written by Satoshi Nakamoto. The Manifesto: a precursor to the creation of BTC The so-called Nakamoto Manifesto was published exactly 12 years ago - on October 31, 2008. The BTC creator originally distributed it via the metzdowd.com mailing list. The document describes the principles of the Bitcoin network. "A full-fledged version of electronic money based on a peer-to-peer network communication model would allow online payments to be sent directly from one entity to another without the need for transactions to flow through financial institutions," - so reads the first sentence of the introduction. "E-commerce is forced to rely almost exclusively on financial institutions to serve as trusted processors of electronic payments... What is needed is an electronic payment system based on proof of cryptography instead of trust, allowing any two entities, willing to do so, to process transactions directly between themselves without the need for an additional trusted entity," - we read further. You can read the whole thing in Polish here. Celebrities wish BTC all the best! This year the anniversary was celebrated with a little humor. The social media video sharing platform Cameo published wishes for Bitcoin. Only that they are not submitted by members of the blockchain community or well-known persons from this market, but celebrities: well-known musicians, actors and comedians. The company behind the initiative is Halborn. And so all the best to the cryptocurrency are wished: David Hasselhoff, Charlie Sheen, Carole Baskin, Charlamagne Tha God, Gilbert Gottfried, Doug Benson, Hassan Johnson, Soulja Boy and RZA. Everything is given in a lighthearted manner. For example, Charlamagne Tha God doubts whether the pictures he found while typing "Satoshi Nakamoto" into Google really depict the creator of BTC. In turn, the famous star of "Sunshine Patrol", David Hasselhoff explains to us that he is the one who designed Bitcoin. Of course, conservative fans may be outraged by the form of such a celebration, but on the other hand it shows how far Bitcoin has come over this decade and two: from a geek toy to an asset that almost everyone is talking about today, and in which the biggest Wall Street firms are investing. Tags bitcoin adoption bitcoin Manifesto
Bitcoin gains a powerful ally
The Chamber of Digital Commerce is a non-profit organization, so like most such organizations, it depends on the support of the famous and powerful of this world. The team of Perianne Boring (chairwoman of CDC) was recently joined by a person who perfectly meets these conditions - Matthew Taylor Mellon II - a businessman, heir to a multi-billion dollar fortune. The Washington, D.C.-based lobby group for Bitcoin, the Chamber of Digital Commerce, has acted as an advocate for the technology since its inception, seeking to actively influence emerging regulations. The source of the wealth of one of its newest members, however, may be cause for serious reflection - for the vast majority of it comes from the banking sector. Matthew Taylor Mellon II is one of the heirs to the fabulous fortune of his ancestor, banker Andrew W. Mellon, one of the richest men in history, with a fortune on a par with the Rockefellers. Matthew Mellon II is also a direct descendant of Thomas Mellon - born in 1813, founder of Mellon Bank, now The Bank of New York Mellon - with total assets exceeding $375 billion. On his mother's side, Mellon II is related to Anthony Drexel - founder of Drexel-Burnham-Lambert - once one of the largest investment banks on Wall Street. However, CDC Chair Perianne Boring (former economic advisor to the U.S. Congress and current economics columnist for Forbes magazine) praises the newest member of the association, stressing that it is the perfect partner for tough times for the cryptocurrency technology sector: Our industry is facing serious regulatory issues in Washington. If anyone can help our cause, it is Matthew Mellon ... We have been blessed with the person of a powerful ally, and with that, we are ready to take the organization's operations to the next level." Mellon himself is showing his "conversion" with statements to Fortune Magazine, among others, in which he states: 'I feel like citizens are really fed up with bankers,' adding that he believes digital currencies could be the solution to this problem, having the potential to replace the dollar itself in the future. I think [because of cryptocurrencies] the banks are going to have quite a nut to crack." - Matthew Mellon II Among Mellon II's many investments for some time now is a New York-based incubator for startups related to the bitcoin sector, CoinApex. So far, the businessman has decided to put around $2 million into its development. Based on: thehill.com Photo: wikipedia.org Any reproduction, distribution, electronic processing or transmission of content from bitcoin.co.uk pages requires prior permission from the portal. Tags bitcoin Chamber of Digital Commerce investor Matthew Taylor Mellon II Perianne Boring
Bitcoin, cryptocurrencies and blockchain - March 11 news [video].
In today's news: ✅ Shanghai invests in blockchain in its smart city program ✅ German authorities investigate topic of cryptocurrency regulation ✅ Niall Ferguson changes his mind on Bitcoin and blockchain ✅ Hodler.Tech - Polish multi-currency wallet. Interview with the project creator, Tobiasz Horodko Shanghai invests in blockchain in its smart city program The authorities of China's Shanghai Yangpu District have announced that they have entered into an agreement with the non-profit foundation MXC. The collaboration aims to implement MXProtocol, a blockchain-based protocol for use in smart city systems. The agreement is part of a broader Chinese State Council strategy to strengthen innovation-driven development and includes both the collection and analysis of data on smart city ideas and projects. source: https://cryptoprofit.pl/ German authorities investigate cryptocurrency regulation The German Finance Ministry has published documentation on the regulation of the blockchain-based securities market. In the document published on March 7, the regulator discusses the introduction of regulations for electronic securities and the issuance of tokens. The document stipulates that the regulation of these assets should be "technology neutral," meaning that they can be based on blockchain technology or distributed ledger technology (DLT). source: https://bitcoin.pl/ Niall Ferguson changes his mind on Bitcoin and blockchain A prominent British historian and author of books on the history of economy and civilization, Niall Ferguson, has changed his opinion on Bitcoin and blockchain. Last week, while delivering a speech on the first day of a major business conference - the Australian Financial Review - Ferguson said he was "very wrong" to doubt the potential uses of cryptocurrencies and blockchain technology. Source: https://bitcoin.pl/ Hodler.Tech - Polish multi-currency wallet. Interview with the project creator, Tobiasz Horodko We invite you to read the interview with the creator of the Polish project Hodler.Tech - a multi-currency wallet for digital assets - Tobiasz Horodko. Link to the article: https://bitcoin.pl/hodler-tech/ Tags bitcoin news Blockchain daily news daily news from the cryptocurrency market crypto news cryptocurrencies Cryptocurrencies news cryptocurrencies news news bitcoin news
Cryptocurrencies for 2020 - series recap
We recently presented you with the cryptocurrencies you should look at when restructuring your portfolio in 2020. We've compiled them in a short summary, along with links to the full articles where you'll find more comprehensive information on the projects. The most interesting cryptocurrencies for 2020 In our series, we did not describe such "coins" as Bitcoin, Litecoin or Ether, as these are already well-known projects. So there was no point in reminding about them once again. So which cryptocurrencies have captured our interest? Dash Dash should be well known to investors with longer experience in the market. It previously operated under the banner of Darkcoin. However, the company wanted to change the image to one that is more suitable for the mass market (from English, dash means speed, momentum). The project protocol is based on a hybrid of PoS and PoW algorithms. It is worth noting that the network is further strengthened by Masternodes (MNs), i.e. full nodes adding new functionalities to the system - there are currently over 4600 of them in the network. To create a MN in the Dash network we need to deposit 1000 DASH on a wallet with a permanent Internet connection. Dash has dibs on solid partnerships with companies like Western Union and Wells Fargo. Additionally, the Dash community is very active and there are numerous projects built around the infrastructure, such as Dash Taxi. You can read more about Dash here. Basic Attention Token (BAT) The Basic Attention Token (BAT) is an integral part of the Dash platform. [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...]
OpenDime - a physical bitcoin wallet as hardware cash
The creators of the well-known web wallet Coinkite have created their own hardware wallet in the form of a USB key. However, they presented a completely novel approach to the topic. The creators of the well-known Coinkite web wallet have created their own hardware wallet in the form of a USB key. However, they presented a completely innovative approach to the topic. What makes the OpenDime wallet different is that it is designed as a piggy bank or hardware cash. You can accumulate bitcoins on it but if you want to spend them the device must be damaged... just like a porcelain piggy bank. The device comes in the form of a small flash drive. Or actually a circuit board coated with transparent material. The principle of use is as follows: To activate the OpenDime piggy bank, connect it to a computer and upload any file(s) of at least 200kb to it. Producer recommends using for example private photos or data from random generator. This data will serve as a source of entropy needed to generate ONLY one address. After uploading the file, the device will disconnect for a moment to generate the keys and address. After reconnecting the device its content changes and you can see the files containing the address (in text form and QR code). At this point we can fund the device account. However, there is no access to the private key associated with the address. To be able to spend the money on the address you have to physically break the seal on the device (break a piece of the plate). After breaking the seal the content of the device changes - apart from the address you see the private key. The key must be imported into our favorite wallet and we can spend the funds accumulated on Opendime. Since a physical intervention is required to obtain the private key, its design makes it possible to tell at a glance whether the device is still secure or not (whether the private key has been read). This approach creates a whole new way of using bitcoin, where a powered OpenDime can be used like a physical coin of any denomination. The device completely secures access to the private key (even the owner doesn't know it) until it is physically "corrupted". Coinkite here proposes a completely new approach to using hardware wallets. Since you can see at a glance whether a given Opendime has been "opened", once it is loaded it can be passed on to the next person as payment in the form of hardware cash with no transactions visible in the blockchain. In a similar way behaved "physical bitcoins" Casascius - also you could see the damage to the hologram made when reading the private key. There, however, we had to trust the manufacturer that no one had access to the private key or the algorithm used to generate the keys. The device costs about $10 a piece, with a lead time of June/July this year for current orders. The manufacturer is so confident in the security of its device that it has launched a contest for hackers. All wallets have the private key to the account that holds the prize sewn into the software. This part of the software is of course unavailable to the user either before or after the seal is broken. To win the prize, all you have to do is break the wallet's security and spend funds from that address. Tags bitcoin btc OpenDime wallet offline wallet hardware wallet Hardware btcoin wallet
Aave will integrate Polygon sidechains to lower fees
DeFi Aave platform, has announced the implementation of Polygon. This will offer greater scalability and lower fees. The platform was originally launched on Ethereum L1. It quickly became one of the top projects in decentralized finance (DeFi). It gained its popularity during the "DeFi summer" of 2020 - a period in which DeFi took the cryptocurrency ecosystem by storm, becoming one of the most important trends in the market. Ethereum was the leading blockchain network at the time. However, it experienced limitations as time went on. Increased load and gas prices affected projects that were initially successful. Aave sees Polygon as a solution Now, Aave's integration with Polygon will allow users to enjoy greater scalability, faster transactions and lower gas prices. The move is the "first wave" in Aave's mission to explore " New Frontiers". It is intended to enable building synergies with other projects and changing to a multi-market approach to secure the future growth of the protocol. The first phase will implement a scalable sidechain on Ethereum using Polygon. This will increase network capacity and reduce fees. The introduction of Polygon will also enable collaboration with other protocols and DeFi projects by facilitating communication. Polygon's partnership with Chainlink will also allow the Aave protocol to provide better quality price feeds, which in turn will improve protocol standards. Indeed, Chainlink is one of the best oracle networks in the current cryptocurrency ecosystem. Aave users will also have access to MATIC, Polygon's native cryptocurrency. They will be able to use it as collateral alongside other assets such as USDC, USDT, DAI, WETH, AAVE and WBTC. Many new features All this will become possible after the implementation of Smart Contract Bridge. Users who take advantage of it will receive a portion of the transaction fees used in MATIC. These will be used to cover transaction fees on the Polygon blockchain. The bridge can also be used to transfer assets from Ethereum to Polygon. This is a useful feature for users looking to migrate their assets between chains. The recent rise in popularity of Polygon has also made the process of moving assets to Polygon easier than ever before. This is because it is supported by wallets such as Metamask Matic changed its name to Polygon earlier this year because it wanted to become a solution to the growing problem of Ethereum congestion. The project transforms Ethereum into a multi-chain network and offers its integration with other Layer-2 solutions. With the rebranding, Polygon expanded the scope of the Matic platform. The company has allowed Ethereum to integrate scaling solutions such as zkRollups, Optimistic Rollups and Validium. Moreover, in order to become the "internet of blockchain," the company introduced new protocols for communication between chains. Tags aave Chainlink DeFi LINK MATIC Polygonn decentralized finance
Dallas Mavericks accepts DogeCoin
Dallas Mavericks owner Mark Cuban has recently been involved in the cryptocurrency market. He has already spoken out about Ethereum, NFT tokens and the myriad possibilities of smart contracts. Now the basketball team he manages, which began accepting Bitcoin as a form of payment a few years ago, has partnered with BitPay. The goal? To accept DogeCoin (DOGE) in exchange for tickets and goodies. Dallas Mavericks accept DogeCoins Dogecoin is a cryptocurrency that originated from a meme - the popular "Doge". It recently gained value thanks to social media mentions that Elon Musk was behind. BitPay, a cryptocurrency payment company, has just added Dogecoin to its list of supported coins, and Cuban's team is the first entity to accept this new form of payment. Why? "Because we can," Cuban conveyed in a press release. "We decided to do this because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of [good] PR. So we're going to take DogeCoin - today, tomorrow and probably forever. If you want to learn more about DogeCoin, we strongly encourage you to talk to your teens using TikTok and ask them about it." Will anyone buy a ticket with DOGE? But do people actually buy tickets with cryptocurrencies? In an interview with Decrypt that surfaced online earlier this week, Cuban admitted that... no. - We actually opened up to Bitcoin five or six years ago, only nobody bought anything [with BTC]. The only reason I did it was to prove that nobody was going to buy anything [with cryptocurrencies]," he recalled. Then, he added, the team revisited the idea of accepting BTC. - Again, someone was just trying to prove that they would buy something, and I was trying to prove that not many people wanted to do that, he explained. He added that now the situation could theoretically be different, as digital currencies have become popular. - This could prove to be a fascinating contradiction, as companies like PayPal and Tesla plan to let customers pay in cryptocurrencies: will anyone want that? - he asked. He also noted that "as long as you're converting to fiat, you're not really spending on cryptocurrencies." Tags btc Dallas Mavericks doge ETH mark cuban
Ether has shot up - the price at the level of over 1000 USD
Bitcoin's price has already pierced the level as high as $33,000. It was followed by Ether in the end. Today, Ethereum cryptocurrency is already being paid over $1,100. Ether runs after BTC For the past few days, Ether has been growing on the chart, but more slowly than Bitcoin. Today, things look different. BTC is about 2 percent cheaper than yesterday and 22 percent more expensive compared to its price a week ago. For ETH, on the other hand, you now have to pay as much as 38 percent more than 24 hours ago and 56 percent more than 7 days ago. Where did the Ether price shoot up from? The market seems to have decided that the cryptocurrency is already cheap enough compared to Bitcoin. On top of that, ETH-based futures contracts will appear on the CME platform market as early as the beginning of February. This is an important step in the process of institutional adoption of digital currency. A new bull market for Bitcoin? In the background, however, we also see growing interest in Bitcoin among institutional investors. The year 2020 was a landmark year for the cryptocurrency. Not only did BTC strengthen during the coronavirus pandemic (and despite the March meltdown), but it also rose in price almost overnight and generated new ATHs. This shows the growing confidence it enjoys in the eyes of institutional investors. There has also been a boom in BTC among institutions this year. Many companies started investing their reserve funds in cryptocurrencies. It all started with MicroStrategy, but Michael Saylor's company was followed by such giants as Square, Guggenheim Partners, and Ruffer Investments. PayPal, which introduced cryptocurrency services for its customers in the U.S., also certainly made a contribution. You can always check the current exchange rate of bitcoin and other cryptocurrencies in the tabs: bitcoin exchange rate and cryptocurrencies exchange rate on the website bitcoin.pl. Places where you can buy BTC and other coins include BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags ETH Ethereum eth exchange rate
Greece wants to punish people who pay with cash
Greece wants to introduce cashless payments almost by force. The country's citizens will have to spend 30 percent of their income without cash or risk having to ... pay a fine. The Telegraph writes about the Greek government's controversial new idea to fight cash and the shadow economy. The desperation of the government may seem bizarre to us, but the problem in this country is bigger than you might think. Greece has been suffering from tax evasion for years. Hence, the public apparatus almost stands on its head just to remedy this pathology. The latest idea was presented by Alex Patelis, economic advisor to Prime Minister Kiriakos Mitsotakis. He calculated that its implementation will give the budget at least 0.5 billion euros a year. Greece: pay by card or you will get a fine As "The Telegraph" now reports, the plan will reportedly be implemented as early as next year. According to its assumptions, Greeks will be forced to spend at least 30 percent of their income non-cash - with payment cards or transfers (of course, cryptocurrencies are not included). This minimum requirement will include e-commerce transactions, but also electronic bill payments. But what if a taxpayer fails to meet the requirement? As a penalty, he will have to pay a 22 percent "tax surcharge" on the unused amount of the limit. Probably nothing will so encourage Greeks to shop online or abandon cash. An example Greek who earns 1,000 euros a month, if he spends electronically only 15 percent of his income, will have to pay an additional penalty of about 400 euros a year. The law is to be enforced by banks, which will inform the government and the tax authorities about their customers' spending. Fight against cash Sounds like a scenario from the world of Big Brother? Unfortunately, it does. The Greek system is taking the fight against cash to a new level that rulers around the globe have never even thought of. However, as The Telegraph adds, Greeks are often paid in cash and pay their bills in that form. So the new law will be quite a problem for such people. The percentage of internet users in this country is one of the lowest in the European Union. Tags cashless cash Greece mobile payments
China's inflation rate lowest in many years
We usually write about inflation in Poland. However, it is worth taking a look at what is happening in this field in China. In the Middle Kingdom a clear fall in prices can be seen. What's more, this phenomenon worries economists. Inflation in China is falling Why is inflation falling in China? One of the reasons is the falling price of pork. The result is the lowest inflation in 11 years, according to data from China's statistics bureau. Experts suggest that in a month's time behind the Great Wall deflation may even be registered. "It will be a nice change after the prices grew by more than 5 percent at the beginning of the year, and the Chinese people's favorite meat cost twice as much," - comments the bankier.pl portal. "The CPI inflation rate has been moving in a rhythm determined by pork prices for nearly 2 years. Soaring meat prices have pushed inflation above 5 percent in early 2020. For several months now, pork has been growing much more slowly - due to a higher base, but also to an improvement in the situation on the African swine fever front," - adds bankier.pl. For example, at the end of October the price of pork was already 2.8% lower than a year earlier. As a result, at that time consumer inflation was only 0.5 per cent and was the lowest in over a decade. It can be concluded that in November we will even be discussing deflation in China. Economists are worried about low inflation While in Poland economists and consumers may be saddened by rising prices of products and services (and not only of meat), experts note that low inflation in China may be a sign of crisis. "Some economists are worried about low core inflation (which does not take into account changes in food and energy prices). It has been hovering around 0.5 percent for the past four months, arguably a sign of some weakness in demand in the face of financial difficulties and future concerns over the coronavirus pandemic. On the other hand, Chinese factories are working hard, and competition on the market beyond the Wall is enormous, hence the pressure for low prices, beneficial for consumers," banker.pl notes. - notes bankier.pl. Tags China inflation inflation in china
The best altcoins to earn - Bitcoin Radio #39
The last week was extremely dynamic for the cryptocurrency industry. For the first time in a long time, we can say that the altcoin season has started in earnest. Many small projects, both new ones and those we know from the previous bull market perforated exceptionally well. This and much more highlights in the latest episode of Bitcoin Radio! Open in Spotify Today on Bitcoin Radio 11 years ago there was a poker tournament. The prize for the winner was 1500 BTC - the equivalent of $120 back then. As you can guess, in 2021 that sum would allow not only for a good dinner, but also for a prosperous retirement in a warmer climate. A story analogous to Laszlo Hanyecz's Bitcoin Pizza - yet entertaining every time. Cardano has been in the spotlight lately. The reason is not only the achievement of ATH by the coin ADA, but also the bold statements of Charles Hoskins, who heads the project. Cardano has been accused of lacking actual utility. This week, however, we learned that the project is preparing for a breakthrough. Smart contracts will be launched as early as next month. Microstrategy's Michael Saylor will be featured in a fortune-telling corner on the 39th episode of Bitcoin Radio. Saylor claims that Bitcoin will reach a price of $5 million. Seriously. For real. It's kind of funny, considering how "wrapped up" his company is in the cryptocurrency king. Theme of the week The topic of the week is the officially started altcoin season. Popular cryptocurrency analyst and youtuber Ben Armstrong shared his opinion on promising altcoins that cost less than $1 apiece. The list includes not only new items, but also those that we already know quite well. What's interesting is that every item Armstrong has proposed has recently seen its price skyrocket (by up to several hundred percent). However, Armstrong's proposals are not the most important thing in all of this. The main thing is that we can finally say that Bitcoin is no longer dominating in terms of growth rate. Many altcoins are growing much faster than Satoshi Nakamoto's creation - what does this suggest? Investors are probably looking to make a lot of money quickly on something that is not as expensive as BTC - this is understandable. However, this is very reminiscent of the market mania phase of 2017/18. Do you remember how it ended then? Well, that's right. Tags ben armstrong bitcoin bitcoin radio btc
YouHodler.com review: loans, deposits and crypto exchange in one
Zenit St. Petersburg creates collectible cards of its players
Zenit St. Petersburg - the top football club in the Russian Premier League - has signed a deal with blockchain gaming platform Sorare. Collectible football cards on blockchain Starting October 15, the blockchain-based game will release collectible cards featuring the team's players. In this way, Zenit will join 100 other international football clubs such as Juventus, PSG, Atletico Madrid and Paris Saint-Germain, among others. Blockchain player cards can be exchanged with other holders, and players can start playing if they have a minimum of 5 digital cards. The score of each player's card is linked to their actual performances in the soccer league table. Sorare CEO Nicolas Julia said the platform wants to create a global soccer game set in a fantasys climate that includes the top 10 leagues in the world. Since its launch in March 2019, Sorare has seen an average growth of 52% each month and now has 40,000 users worldwide. Interestingly, Russia has become the third largest Sorare marker in the world, seeing a 70% month-on-month user growth. The country also ranks first in terms of average daily time spent on the platform, at 1 hour 15 minutes per day. Zenit CEO Alexander Medvedev said he hopes the partnership with Sorare will give the brand better reach and allow it to reach younger fans abroad, especially in Asia and America. Nonfungible - a ranking service for blockchain games and creators of digital collectibles, or non-fungible NFT tokens - currently ranks Sorare at No. 4. The platform's seven-day volume is $181,353 compared to $445,545 for the first-place game, Superrare. Sports and cryptocurrencies This is not the first time that football clubs have come into contact with cryptocurrencies and Blockchain. Not so long ago, an article appeared on our portal about FC Barcelona's cooperation with the Socios platform. Socios is a platform that uses Chiliz (CHZ) cryptocurrency and enables tokenization of clubs. Clubs such as Juventus, West Ham and PSG have already joined the platform. Which Polish club will be the first to benefit from the blockchain technology? What do you think? Tags Football Sorare sport zenit st. petersburg
BTC dominance drops to 51% - lowest since April 2019
Yesterday, was a tough day in the cryptocurrency markets. Bitcoin's price fell below $50,000 and almost every other cryptocurrency is also in deep red. Most coins have lost between 10 and 30%. But beyond the current price collapse, Bitcoin's share of the cryptocurrency market has also fallen. This is part of a trend that has continued throughout the year. Bitcoin's dominance has fallen from 69% at the beginning of the year to its current value of 51% - its lowest value since April 2019. Bitcoin's dominance While Bitcoin's dominance has spent most of its history above 60% - and many early years above 80% - it has seen some significant declines. The deepest of these occurred in January 2018, when Bitcoin began to retreat after touching the $20,000 level, and ICO mania caused many altcoin prices to surge. Similar factors are taking place today. The rise of decentralized finance (DeFi) has spurred competition between the largest blockchain platforms. Ethereum and Binance Smart Chain are competing to be the best smart contract platform. DeFi has also led to a price boom for many DeFi tokens that have appeared on these platforms. About half of the market share that Bitcoin lost went to other coins in the top 10, most notably Ethereum, Binance Coin and XRP. Until yesterday, the Ethereum price was on a roll. ETH hit a record high of $2,630, up 258% in 2021. Altcoins take share away from BTC Altcoins have claimed the other half of Bitcoin's lost market share. PancakeSwap's CAKE token, the native token of PancakeSwap's decentralized exchange on the Binance Smart Chain, is up 4000% year-to-date. Dogecoin, which has been frequently commented on by Tesla CEO Elon Musk on Twitter and has die-hard fans on TikTok has achieved similar growth. Citi analyst Ronit Ghose said yesterday that other cryptocurrencies that are more programmable than Bitcoin could take market share away from Bitcoin over the next decade. "The value of Bitcoin," he said, "will be affected by the utility of other cryptocurrencies." Bitcoin will also face competition from central banks' digital currencies. China has come to the forefront and is already piloting the technology. Countries such as the UK and US are also planning their own CBDCs. But since such currencies will not be decentralized, they will not be integrated into the cryptocurrency market and will not directly devour Bitcoin's remaining dominance. However, central bank digital currencies could undermine BTC's ambition to disrupt the global financial system. Tags altcoins bitcoin btc cbdc domination
The digital yuan and its risks
China is working hard on its digital currency. Against this backdrop, Western central banks such as the Federal Reserve, the Bank of England and, to a lesser extent, the European Central Bank pale in comparison. However, the e-juan provokes questions about global financial stability. Digital yuan The digital yuan already has legal tender status. Payments using it are essentially no different from those made on payment platforms such as Alipay or WeChat. At least looking at it from the consumer's perspective. This is because E-juan bypasses commercial banks. The central bank stands behind it. In contrast, unlike cryptocurrencies such as Bitcoin, central bank digital currency (CBDC) is backed by the government. Admittedly, questions about surveillance of citizens are most often raised in this context. However, it is worth considering whether CBDCs will change the global monetary system and order. The digital yuan and the dangers There are several dangers in this field. The first concerns international payments. Most cross-border transactions now rely on the US dollar as a kind of intermediary. This in turn entails the need to use the SWIFT banking protocol. This means (again!) a significant demand for the US dollar, which benefits the US. Transactions using the digital yuan will not require SWIFT or dollars, which has implications for the use of dollars in international trade. This could also strengthen China's position. The second danger is that if central banks don't meet the demand for digital money, market forces will. Especially when you add in the ideas that digital yuan should have an expiration date. That's a threat from the perspective of those in power. For cryptocurrencies - a great opportunity. Third, countries that don't adopt digital currencies may fear that their central banks will lose control of monetary policy to cryptocurrencies - whether decentralized initiatives like Bitcoin or centralized ones like Facebook's planned Diem currency. Economic warfare The digital yuan will likely be another element of tension between China and the United States and Europe. The reason? It's not just about dealing a blow to the dollar. The e-juan will also allow it to bypass sanctions, such as those recently imposed on Chinese officials over human rights concerns. The U.S. will become helpless on this front. Given what's at stake, however, it's likely that the U.S., EU and U.K. will accelerate the creation and testing of their own digital currencies. Blockchain is changing the way we make payments, and the risks of being left behind are too great to ignore. Tags cbdc China digital yuan economy payments US
The first million turnover thanks to cryptocurrencies - about the instant success of two Poles
The cryptocurrency industry is booming and growing rapidly. Among the many startups on this market, there are also Polish ones gaining popularity around the world. The cryptocurrency industry is booming and is developing rapidly. Among many startups on this market, there are also Polish ones gaining popularity in the world. Despite the fact that Verified Solutions, founded by two Wrocław residents - Adam Bicz and Kajetan Maćkowiak - started its activity only 3 months ago, it can already boast its first significant success - only a month after starting its operations the company achieved a turnover of over one million PLN. The idea for Verified Solutions was simple. We decided to join forces with Kajetan and create one of the first companies in Poland dealing with cryptocurrencies. We used my programming education and his business experience for this purpose - explains Bicz. We hired first programmers, testers and project managers. With time, we started to expand our team with the marketing department as well. The administrative rest was on our head - laughs Maćkowiak. In this way a software studio was created, which deals with blockchain technologies in the broadest sense. One of their products is the BuyCoinNow.com website, which allows the purchase of Bitcoin using credit cards and money transfers, and BitcoinAPI.co - their own payment system. As the founders explain, the rising Bitcoin exchange rate is driving the prosperity and interest around the company. We have customers from all parts of the world - even as exotic as Honduras and South Korea. We are happy to see now that our idea "caught on" and proved itself not only on the Polish market but also abroad. The people from Wrocław are also in the process of creating a cryptocurrency wallet as well as an information portal on bitcoin. Why cryptocurrencies? Well, for a long time we have been fascinated by the potential that they bring. For a long time we were interested in them as private investors. One day we decided to take a risk and deal with it "seriously" by starting our own business. We hope that this is just the beginning - convinces Bicz. Kajetan Maćkowiak and Adam Bicz Founders and founders of MFIT-group, of which Verified Solutions is a part. Specializing in IT services and cryptocurrencies. From Wroclaw. Experienced and in love with new technologies entrepreneurs. Privately - good friends. Press release Author: Aleksandra Borodziuk If you want to present your startup to the readers (for free) write to portal(a)bitcoin.pl. Tags bitcoin btc Poland startup
TOP 10 most influential people in the cryptocurrency world
Will a digital currency be created for any of the G20 countries?
The new anti-money laundering and counter-terrorist financing bill will also affect the cryptocurrency industry
On May 5, a draft of a new law on anti-money laundering and counter-terrorist financing by the Ministry of Development and Finance was published. The act will also apply to the cryptocurrency industry. On May 5, a draft of a new Act on Counteracting Money Laundering and Terrorist Financing by the Ministry of Development and Finance was published. The act will also apply to the cryptocurrency industry. The new law is a result of the guidelines of the European Union, namely the Directive of the European Parliament and the Council (EU) 2015/849 of 20 May 2015. The new project is the next stage of financial surveillance of citizens. A Central Accounts Database will be created, which we wrote about already in December 2016. Importantly, the list of institutions required to assess risk and identify their customers will be expanded. The new list will include entities engaged in: exchange between cryptocurrencies and official means of payment, exchange between cryptocurrencies, storing identification data providing customers with access to virtual currency units In practice, this means that the obligation to identify their customers will be incumbent on typical bitcoin exchanges where it is possible to exchange BTC and other cryptocurrencies for fiat currencies (which is already used), as well as, more controversially, on cryptocurrency exchanges where there are no fiat currencies, and the exchange takes place only within the cryptocurrencies (e.g. exchange of BTC for LTC). Another controversial issue is the obligation of customer identification by services offering.... online cryptocurrency wallet services.... Users are thus left with software and hardware wallets, which fortunately cannot be covered by any law. The draft also provides for new rules of stopping transactions and blocking bank accounts, as well as new rules of cooperation between the General Inspectorate of Financial Information (GIIF) and foreign financial intelligence units and Europol. In practice, this means that "suspicious" transactions may be blocked more frequently, e.g. transactions of persons involved in cryptocurrency trading or arbitrage on exchanges, as well as persons withdrawing "suspicious" sums from foreign exchanges. It will be incumbent upon the obligated institutions in the Act, including cryptocurrency companies, to analyze suspicious transactions that may indicate a connection to crime, money laundering or terrorist financing. Very severe penalties are foreseen for companies that fail to comply with the new obligations. According to the draft, the maximum penalty may amount up to EUR 5 million, and for an institution with legal personality - up to 10% of total annual turnover. The financial penalties are not the only whipping boy, the package also includes the threat of imprisonment of up to 3 years for those who fail to comply with the obligations to provide information, conceal it or provide false information. According to the guidelines, AML4 directives are to be introduced by June 26, 2017. Photo: pixabay.com Tags aml bitcoin btc Ministry of Finance Poland law regulations
Bitcoin, cryptocurrencies and blockchain - December 7 news
The most popular cryptocurrencies outside of Bitcoin and Ether
Bitcoin and Ether are the two most popular cryptocurrencies in the world today. The digital currency, which was designed by Satoshi Nakamoto, is famous for being the first of its kind in history. Additionally, it is with its help that you can buy other cryptocurrencies. Ether? That's easy, behind it is Ethereum, which is today's most popular smart-contract platform. But what about other blockchain coins? Which ones are investors betting on? We already know the answer to that question! Bitcoin, Ether and... other most popular cryptocurrencies Forbes wrote about the issue. Specifically, about a year-long survey behind the popular cryptocurrency exchange Luno. The results offer us a unique look at the most popular cryptocurrencies after Bitcoin (BTC) and Ether (ETH). This is because the company asked as many as three million of its users which coins they want to buy this year, in addition to the two largest cryptocurrencies by market capitalization. Forbes reports that it arrived at the survey data, which somehow got leaked. So what are the world's most popular cryptocurrencies besides BTC and ETH? Actually, there was no surprise. "First" place here goes to XRP, which is the Ripple token. "Second" is unspecified "other". Litecoin (LTC) and Stellar (XLM) are ranked next. This is followed by Bitcoin Cash (BCH), Binance Coin (BNB), the most famous private coin, namely Monero (XMR), and finally stablecoin USD Coin (USDC). The market seems to believe in the success of cryptocurrencies that guarantee more privacy, because Zcash was also ranked. ERC-20 Maker token (MKR) is also popular, closing the list. Interpretation of the survey To some extent, the results are a reflection of the market capitalization of cryptocurrencies. However, the absence of Bitcoin's fork, Bitcoin SV, which is doing quite well in the market, is surprising, as well as the Chinese pet - EOS. As you can see, some part of the market still believes that it is worth investing in the original idea of BTC concerning privacy of funds transfer. Hence the popularity of private coins: ZCash and Monero. However, the unquestionable market leaders remain Bitcoin, Ether and XRP. Will a possible next speculative bubble on digital assets change this state of affairs? Write what you think about it in the comments! Tags bitcoin ether litecoin ltc Monero most popular cryptocurrencies XRP Zcash
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Nifty Gateway co-founder warns of NFT market hype
Duncan Cock Foster, co-founder of Nifty Gateway, told Decrypt that he is tired of what is happening in the NFT market. - If you're doing this purely to make money, you're probably not going to have a lot of fun and you're probably not going to make a lot of money either, which is kind of the ultimate irony, he said. Nifty Gateway co-founder abhors money? The boom for NFT in February and March was "destabilizing," Foster said. Since then, however, interest has begun to wane. So has Foster's patience. In fact, he admitted that he's tired of artists and musicians emailing to ask" 'Hey, guys, you know, we need to get together. I need to get my NFT up and running within the next week before the hype stops!" - If that's your approach, you're probably not going to have long-term success in the NFT space, Foster said. Recall that NFTs were criticized in 2018 when CryptoKitties was the new fad. As Foster recalled, people said at the time that non-exchangeable tokens would never catch on. - It's kind of like Peter Schiff,'' he said, referring to the famous Bitcoin critic. - He just makes [the same criticism] every year and just gets more and more wrong every year, he explained. As he added, time has proven the NFT marketplace's hecklers wrong, too. The NFT market It is fair to say that NFTs are today mentioned in one breath alongside DeFi, smart contracts and other phenomena offered by the Ethereum platform. This year, by the way, turned out to be a breakthrough year for the NFT market. Suddenly it turned out that top artists want to own their tokens that are linked to graphics, visuals or music. Behemoth is the first Polish band with NFT. For example, Grimes, the singer and private partner of Elon Musk, issued her NFT. She was also joined by rockers Kings of Leon, and shortly afterwards by heavy music legend Megadeth. Recently, the band Behemoth joined this elite group. The Polish formation aired its NFT, which is associated with the work of renowned graphic artist Rowan E. Cassidy. But why Nergal, why? Becoz we fuckin' CAN. Behemoth airs its NFT Published by Adam Nergal Darski Friday, May 7, 2021 Tags behemoth Blockchain digital tokens Nifty Gateway tokens
How money was corrupted in the world in the past. Part 1: Why spoil money at all?
BitBay best Polish cryptocurrency exchange according to new CoinMarketCap ranking
Out of more than 300 cryptocurrency exchanges listed on CoinMaketCap, BitBay took 24th place in the global ranking of digital currency trading platforms. This means first place among Polish digital currency exchanges and being among the top in Europe and the world. Recently, CoinMarketCap, a service that tracks capitalizations of digital assets and trading on cryptocurrency exchanges, introduced a new classification of cryptocurrency trading platforms. Recognizing the problems associated with ranking exchanges according to their reported volume, which is often many times inflated, CMC (short for CoinMarketCap), decided to introduce a new classification called Web Traffic Factor. How does the new Web Traffic Factor rating system work? As CMC notes, asking exchanges about the number of active users using their platforms could be misleading, as entities that have previously inflated their volume could do the same with customer data. Instead, CMC decided to consider the number of visits to an exchange's website as one factor in the new ranking. In addition to that, the final score is made up of other factors based on data provided by various website traffic tracking services, viz: SimilarWeb, Alexa or Ahrefs. Below we list all the factors (along with their percentage importance for the overall score) taken into consideration when evaluating a platform: 20% of the evaluation are page views, i.e. the number of total page views by new and returning site visitors; 15% of the grade are unique visitors to the site; 10% of the rating is the rejection rate, which is what percentage of visitors leave the site after viewing just one page; 5% of the rating is time spent on the site; 25% is the relative ranking of the site based on Alexa estimates, which take into account the relative strength of the site relative to other sites on the World Wide Web; the last 25% of the rating are the keywords by which the stock exchange is positioned in search engines. The positions are evaluated for selected key phrases such as "cryptocurrency exchange", "bitcoin exchange", "cryptocurrency trading" etc. Based on the above criteria the system rates the exchanges from 0 to 1000 points. The first exchange will always get 1000, while the other platforms will be rated based on relative comparison to the top one. BitBay the best Polish exchange according to the new CMC ranking At the very top of the list came international players, providing their services mainly to the US and Asian markets. In the top three we find Binance, just behind it Coinbase Pro, while in third place is BitMex. Looking from the top of the list, the first Polish cryptocurrency exchange we come across is BitBay, currently ranked 24th among all the digital asset exchanges listed on CMC. Congratulations to the entire BitBay team for achieving such a spectacular result among Polish, European and global cryptocurrency trading platforms! Tags bitbay CoinMarketCap Web Traffic Factor
Bitcoin a salt in the eye of the banks. Termination of a Polish exchange and an individual
Dutch exchange Bitonic complains to the central bank
The Dutch cryptocurrency exchange, Bitonic, has just taken legal action against its country's central bank. This is all due to a controversial cryptocurrency wallet verification law. Bitonic vs. the central bank Dutch bitcoin exchange platform, Bitonic, is demanding the suspension of a cryptocurrency wallet verification rule that was passed by the Dutch central bank. In November 2019, De Nederlandsche Bank (DNB) began requiring cryptocurrency exchanges in the country to verify their users using strict KYC protocols. The new rules also included verification steps for wallets to withdraw digital currencies, which Bitonic describes as very onerous. At the time, Bitonic was only one of three companies in the market with a license from DNB. The company says that GNI reportedly failed to address the issues it noticed with the controversial KYC rule. The exchange also revealed that an independent auditing firm even concluded that the central bank's actions had no legal value. For Bitonic, the introduction of an extensive portfolio verification protocol violates existing customer privacy laws. - We believe it is critical that the judge consider the DNB's position to clarify whether the [ bank's] requirements are reasonable," the company added in its release. Commenting on the purpose of the lawsuit, Bitonic's announcement reads: "Our goal is to be able to quickly stop the complex processing of personal data imposed on us. We want to return to a situation where we determine ourselves on the basis of [risk analysis] whether we will ask the customer to verify the portfolio." Alliance of exchanges A company spokesperson also told Cointelegraph that the company regrets being forced to seek redress in court. The action was reportedly necessary given GNI's reticence to dialogue about the issues. A Bitonic representative also revealed that other exchanges have expressed support for such legal action. - We don't know if similar proceedings are being prepared by other parties, but we believe the court will see the broader significance [of the case] not only for the cryptocurrency industry but also for its customers, the spokesperson said. Tags Bitonic exchange cryptocurrencies
How money was corrupted in Poland in the past. Part 10: A run on the banks and the return of inflation
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Silver price rises as a result of the bream revolution
Reedita investors have now targeted short speculative positions on the precious metal market. As a result, on Monday morning, the price of silver rose by 10 percent. At the same time, it reached its highest level in 7 years. The price of silver on the target of "foxes" The above was already talked about on Thursday. The movement of small investors, which is already referred to as the "flea" revolution, attacked the silver market. Experts suggest that it wants to "squeeze" the short positions of large banks. Earlier, thousands of posts on Reddit encouraged people to buy silver coins. Currently, on the chart we see a price of about $ 30 per troy ounce. The last time the $30/oz. value was seen was in February 2013. This means that people who bought the precious metal seven years ago are now almost at zero (which, by the way, may now provoke a price drop). After that, silver prices have been falling for nearly five years since the speculative bubble burst in the spring of 2011. - The Reddit crowd turned their focus to the larger whale, attempting to trigger a squeeze on short positions in the silver market. This is their equivalent of a Moby Dick moment, said Kyle Rodda, an analyst at IG Markets quoted by Reuters. The bream revolution What is the purpose of the "revolution of the lemmings". As banker.pl explains, "Reddit traders are aiming to drive up silver prices through increased demand and force holders of short positions to close them - i.e. force repurchases of issued contracts. If this were to happen, a wave of forced buy orders could push silver prices to unprecedented levels. Just as has happened in recent days with GameStop stock." - Most physical silver stocks have sold off. We're now seeing premiums - that is, the excess over the spot price you have to pay to get into physical metal ownership - glide skyward. Most of the stuff on our site costs at least 30% above spot, and we can't get anything cheaper from our wholesalers, Tyler Wall, head of SD Bullion, said in an interview with Bloomberg TV. Will gold be next in line? Tags silver Wall Street gold
Is bitcoin entering the realm of accumulation?
The upcoming halving of the Bitcoin cryptocurrency network has long been considered an immediate boost that will give us a new bull market. However, will this actually be the case? If history repeats itself, this event will be the catalyst for another huge price increase that will see BTC reach the $20,000 level again, followed by a new ATH. Bitcoin in accumulation phase Some analysts are of the opinion that BTC is now entering an accumulation phase that will precede the halving and could help accumulate fuel for a new bull market. The above sounds soothing especially after yesterday. Overall over the past month, Bitcoin has fallen yen into a downtrend. Eventually, the price of the cryptocurrency even chafed against $6800 on some exchanges. The current downtrend (it is difficult to clearly answer the question whether it is still continuing) may also prove to be an ideal opportunity for long-term investors to accumulate as many cryptocurrencies as possible in anticipation of the increases that will occur in some time as a result of the aforementioned distribution of the reward for digging a new block in the BTC network. Alistair Milne, a well-known cryptocurrency investor in the market, explained in a recent tweet what he thinks about the current situation: "Things I expect to happen in the next 4-5 months due to the impending halving [of the reward on the network] of Bitcoin: BTC shorts are closing; people are hoarding BTC again; miners are starting to raise funds; insufficient performance of altcoins [that are] trading for BTC; bulls are driving the price up." What's next for the price? It looks like bitcoin will end 2019 in more of a downtrend. However, in a few weeks we will probably find out if the cryptocurrency market will regain its former momentum and we will see intense green again on exchanges. You can always check the current rate of bitcoin and other cryptocurrencies in the tabs: bitcoin rate and cryptocurrency rate at bitcoin.pl. Places where you can buy Bitcoin and other cryptocurrencies include BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags bitcoin price btc price bitcoin exchange rate bitcoin exchange rate btc exchange rate
Russian bank explores trade finance process using blockchain
The Swiss arm of Russia's largest bank is exploring a trade finance process based on blockchain technology. Blockchain and trade finance Sberbank Switzerland AG, a subsidiary of Russia's largest bank, Sberbank, has just signed an agreement with Swiss trade finance platform Komgo. The cooperation between the two entities is to be about using a trade finance service based on blockchain technology. Representatives from Sberbank Switzerland AG told Cointelegraph that the collaboration with Komgo is about the "growing digitization of trade finance." Evgeny Kravchenko, head of trade finance at Sberbank, stressed that trade finance for commodities is a strategic activity of Sberbank Switzerland AG. According to the director, Russia and CIS countries are the company's key markets. He added that Sberbank Switzerland AG also handles trade flows around the world. "The digitalization of trade finance has accelerated rapidly in recent years, in line with the needs of market players," - Kravchenko said, adding that Komgo's trade financing will further enhance the efficiency of Sberbank's operations. Komgo It is worth recalling that Komgo is an innovative trade finance startup that is developing a commodity trade finance platform based on the Ethereum blockchain. One of its goals is to speed up trade finance transactions, as well as allow interested parties to track transactions. Sberbank has been using blockchain technology heavily recently. According to media reports, the bank is working with Russia's major airline, S7 Airlines, to introduce a blockchain-based ticketing system. The institution is also reportedly considering introducing its own stablecoin tied one-to-one to the Russian ruble. Switzerland continues to bet on blockchain In Switzerland, on the other hand, a new group has been formed to promote research and support blockchain companies. It is the Ticino Blockchain Technologies Association, which was formed in collaboration with the University of Southern Switzerland (Università della Svizzera Italiana - USI), and the University of Applied Sciences and Arts of Southern Switzerland (SUPSI). The purpose of the group is to support blockchain research and companies, and to promote academic research in this particular technology. Other members included in the group are: Bitcoin.com, Copernicus Holdings, Eligma, Euronovate, Eventboost, Pangea Blockchain Fund, Poseidon Group, Quadrans Foundation, StrongBlock.io, Superflat and the Swiss Blockchain Consortium. Tags Blockchain trade finance Russia
BTCPoint - cash for bitcoins in more than 10,000 Spanish ATMs
Thanks to the partnership between BTCPoint, Sabadell Bank and the Hal-Cash system, Spaniards are given the ability to exchange bitcoin for cash without the need for an ATM card or bank account at more than 10,000 ATMs. In addition to Sabadell bank, other Spanish banks have also joined the partnership, including: Popular, Abanca and EVO. BTCPoint, the main entertainer of the service, is also the manufacturer of the two-sided bitomats. However, as the company's COO, Alex Lopera, admits, creating an infrastructure of this type from scratch is not the right approach, especially if you have ambitions for wider growth: If we wanted to expand our reach and become a global company, it makes more sense to go after the banks themselves. They are the ones that have all the infrastructure needed." From a user perspective, the process of withdrawing fiat money from an ATM should not cause any difficulties. To do so, you use the special BTCPoint mobile app, enter the amount of bitcoin you wish to exchange and deposit it to the address provided. Once you have sent the appropriate amount of bitcoin to our address, you will receive a text message with your PIN attached and with that code you can go to any ATM to withdraw cash instantly." - says Lopez Bit2Me has also been offering a similar service in the country since the beginning of this year, this one, like BTCPoint, works with the Hal-Cash system. What sets BTCPoint's newest service apart for the moment, however, is the complete lack of commissions, through which the company will likely try to attract new customers. The Bit2Me service is charged with a commission of 1% of the transaction value. As we further learn from the COO of BTCPoint, the company's plans also include further expansion of its service offerings: "We are focusing on exchanging bitcoin for cash, but we are also in talks with various credit card payment processors who could enable a bitcoin purchase service [through their deposit machines] at very low commissions." As Lopera adds, BTCPoint also plans to expand the geographic reach of its offering. The company is currently negotiating with both North and South American banks to bring this kind of service to those continents as well. Earlier this month, a similar type of service, in this case available at over 7,000 standard ATMs in South Korea, was made available by Coinplug. In our country, an exchange of this kind is available through the Cryptoins exchange office and the SkyCash system. Again, cash can be withdrawn without the need for an ATM card or even a bank account from any Euronet ATM. Any copying, distribution, electronic processing and transmission of content from bitcoin.pl website requires prior consent of the portal. Tags bank ATM bitcoin BTCPoint Cryptoins Cryptoins.com cash Hal-Cash Spain cantor
TVN accuses Poland's BITCOIN KING. Who wants to destroy BitBay?
We invite you at 20:00 to a special episode dedicated to the Superwizjera material aired on TVN24 about BitBay exchange and the Polish cryptocurrency industry. Is it really the case that most cryptocurrency businesses today are only trying to create the appearance of total legality and underneath is a bundle of vipers and snakes? Who is responsible for the million-dollar bribe Sylwester Suszek wanted to give, according to Superwizjer journalists? The main character of the investigative report - Sylwester Suszek CEO of BitBay - will be a special guest of the episode on YouTube channel Krypto Raport. Tags bitbay bitcoin cryptocurrency exchanges cryptocurrencies bribe Poland law superwizjer Sylwester Suszek
The U.S. election is coming up on Tuesday. What do they mean for bitcoin?
The U.S. election will already be held on Tuesday, November 3. Will the Americans give Donald Trump a second chance? Or will they bet on Joe Biden? And what does all this mean for Bitcoin and other cryptocurrencies? Elections in the US The current elections in the USA may decide the future not only of the country, but also of the world. Trump turned out to be quite a good manager, but mainly when it comes to economic issues. He did worse on the level of fighting the coronavirus pandemic. The best evidence of this is surveys, according to which the citizens of the USA admit that they live better today than 4 years ago, but they will not vote for the current head of state. In their opinion, Trump failed the test during the pandemic, and this one in the eyes of many was and probably is something along the lines of a war. So the authority had to meet the basic task - to ensure the safety of everyone. On top of that, there were riots related to the Black Lives Matter movement, which brought additional uncertainty and anxiety to the country. On the other hand, the current president continued Barack Obama's policy towards China (not many people remember that the policy of "pivot to the Pacific" was the work of Hillary Clinton and took place under the previous president). Only that he tightened up his actions. Today experts suggest that there might even be an armed conflict between the superpowers. But will Biden's win change the above? It is doubtful. The elites in Washington may quarrel about certain directions of American policy, but in the international sphere they rather go hand in hand. China-US war So regardless of who wins the election - Biden or Trump - the US conflict with China will continue. If it takes the form of a cold war (in fact, it's already at this stage), we can count on it to positively affect cryptocurrency rates. Sanctions and any restrictions on trade rather drive valuations from this market. The question, however, is what will happen to BTC and other blockchain-based currencies when war breaks out. We don't know and anyone who tries to answer this question is already treading on very shaky ground. Bitcoin was created as a response to the economic crisis of 2008. Thus, one could expect that when the next one comes, the BTC exchange rate will rise (although there were skeptics who thought that a recession would plunge the cryptocurrency market). This is what is currently happening. Admittedly, on March 13 of this year. Bitcoin cost only a little over $3,000 for a while, but today it is paying close to $14,000 on exchanges. Now let's consider what will happen to cryptocurrencies when an armed conflict breaks out. No government can seize them, and a private key on a piece of paper or in the form of a file on a flash drive is easier to smuggle when crossing borders than, say, gold in the form of coins or bars. So maybe Bitcoin will also benefit from a possible global war? In any case it would be better not to find out... Current status So far in the US as many as 90 million eligible voters have already cast their ballots. That's as much as 65 percent of the total turnout in the 2016 presidential election, when Trump fought Clinton for the White House. Americans took advantage of special early polling stations or voted by mail. Who's winning. We don't know the results for these 90 million, but as Asia One reports, for example, the polls clearly point to Biden's success. This one - despite many slip-ups - leads nationwide. However, states such as Florida will be crucial, so a lot can still change. Voters also believe that the most important issue for them now is the fight against the COVID-19 pandemic. And in this field Trump - as other polls suggest - has failed. At least in the public perception. The two politicians and their camps, however, are unlikely to differ much on how to fight the coroner-crisis itself. Both are, in practice, in favor of "printing" it. The markets have even been flooded with fresh dollars this year. Americans have received $1,200 each and $500 for each child in checks. Over the past few weeks, there has been an ongoing tug-of-war in Congress over how much the next aid program should be, but - that's right! - It only concerned the scale of the spending, not whether the Fed should continue to pump the economy with empty bills. That's right, the Fed! The central bank is already openly saying that it is playing for a lower USD and does not mind higher inflation. Again: it is doubtful that Biden will stop this policy. Quite, we can consider that he will advocate it! CBDC and cryptocurrencies Trump reportedly wanted to ban cryptocurrencies. This was suggested by John Bolton, a former associate of the US president, who described it in his book titled "The Room Where It Happened". It is from it that we learn that the occupant of the White House in May 2018 was thinking about some kind of restriction or destruction of this market. Trump, however, is famous for his volatility. It is possible that someone efficiently persuaded him of this idea. Today, he is reportedly already worried about something else: the fact that China will be the first to issue CBDCs. This was reported by Breitbart, which suggests that the Trump administration is reportedly worried that the vague and stringent regulations of the Securities