John Gage

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Bitcoin is Nearing to Become Digital Gold: Former JPMorgan Executive

Bitcoin is Nearing to Become Digital Gold: Former JPMorgan Executive

Ex-JP Morgan executive and a famous Mathematics Professor Alex Gurevich told during an opinion editorial to Yahoo Finance that Bitcoin is not far from becoming digital gold. He said that rise and fall of different alternative cryptocurrencies and fork considerations is a common occurrence in the crypto market, but timely development of the crypto market proves to be beneficial for Bitcoin. He further added, “Bitcoin will not disappear everyday, it is not so far to get a permanent registration status of digital gold in the global market.”

Highlighting the value of a precious metal like gold and the incessant demand for it, Gurevich said that in earlier centuries gold had been a source of exchange and remains the same in an uncorrupted form in the market. Gold is neither the rarest metal nor the most common precious metal in the world. But it has been retained its value time to time.

He went on further by saying, “Over many centuries in the history, the middle ground that gold went held has ended up having lot of advantages in it, so as it is also quite common to be a cryptocurrency that has a huge user base all over the world. However, it is also not so common that mining might easily affect and disrupt its price.” Gifted with such distinctive advantages, metal gold has been able to overcome and stay ahead of its competitor metals. This has led to gold gaining enviable credibility and immense popularity worldwide.

Expressing his belief on a growth phenomenon, Gurevich said that while Ethereum is battling to be digital copper, Bitcoin is progressing quite well to become digital gold in the world market. This growth phenomenon will mean that while the value of Ethereum will be driven out, the demand for Bitcoin will be driven by the sole need of it being a store of liquidity value.

When questioned “Why Bitcoin is specifically the best performer, gaining the top rank in the crypto race?” Gurevich explained, “The advantage of incumbency that has favoured the bitcoin currency, and that was just similar to the gold concept did to its competitor precious metals (which may or may not have had a better possible advantages, rarity it had), similarly the king of cryptocurrencies Bitcoin is in the process of dominating the competition.”

He clarified that buying Bitcoin in 2015 was much easier as compared to the present situation. Today, it is very complicated, believes Gurevich.

“Bitcoin may or may not be a bubble,” but it is imperative to note that since its inception Bitcoin has undergone various ‘meaningful corrections.’ Noteworthy, are the ones Bitcoin survived in 2014 and 2018. The more Bitcoin ‘survives and stabilizes,’ the more it gains gold credibility.

Alex Gurevich, is however, not the only one believes that Bitcoin is on its way to become the digital gold. Even Steve Wozniak, co-founder of Apple once called Bitcoin as ‘the only pure digital gold.’ He expressed his views stating, “being totally decentralized and having no central control. That’s the first one they have to give up to try to have a business model.” Wozniak asserted that as he already owns a Bitcoin unit, his ownership is merely to make experiments on using Bitcoin as a better payment method rather than being an investor in the cryptocurrency.

Bitcoin crash: that hides a much darker secret

Bitcoin crash: that hides a much darker secret

Bitcoin has lost 30% of its value in the last week. Now, the digital currency has entered in an ugly new phase which is of underperformance, Its latest crash contains a pattern which could release a secret about the manipulation of the crypto exchanges.

Bitcoin’s price was volatile in the previous year. It rushed to a high peak before Christmas 2017. Now, Bitcoin’s price is scrolled down with a low hit by February.

In a brief doubtful period of September, Bitcoin’s performance fell upon cryptocurrency markets. And in September, October and November, bitcoin showed much volatility as a rock, when the crypto markets roared and wept. Every day Bitcoin traded in between US 6200 to US 6600 dollars, but now the stability made bitcoin boring.

Pegs were most popular in the last century. Some of the countries learned how to spend a lot of money to protect the currency. A nail is an Australian dollar that was pegged to the US dollar for a long time and is where the exchange rate is all set in the position of concrete.

Although many of the countries held until their currency dropped, pegs went out of fashion. When there is the peg in stability place, it can be deceptive in outward appearances. It can exist in local currencies because they have the government’s support. Those nation’s governments manipulate the value for some reasons. For this, a ‘collapsed peg’ pattern is seen. Bitcoin doesn’t have any government behind and nor they are supported.

Manipulation is well-established in crypto markets, where price manipulation bots run rampant, bitcoin is assumed of collective free will in a controlled system. It is by the anti-corrupted mathematics of cryptography. The currency collapse patterns request Bitcoin may not be so open.

Manipulation is being performed on you when you are not intended to commit manipulation. Many of the manipulators want to support the high price, but none of them know when the manipulation will stop.

Bitcoin Group SE acquires a 100% of the Tremmel investment bank for cryptos expansion and ATMs

Bitcoin Group SE acquires a 100% of the Tremmel investment bank for cryptos expansion and ATMs

Bitcoin Group SE has received a cent percent stake in Tremmel Wertpapierhandelsbank GmbH, an investment bank.

German is holding company Bitcoin Group SE. It is in Herford in Germany. It operates the country’s regulated crypto exchange. It is only regulated exchange Bitcoin Deutschland AG which is mainly referred to by its domain name called Bitcoin.de.

Bitcoin.de focuses on the trading of the securities. Upon purchasing of the banking sector, the crypto exchange is holding will in turn to get the use of the license of the Tremmel investment bank.

This banking license can allow the holding its crypto related offerings “significantly expand” and can even operate ATMs for the cryptocurrency exchanges in the country, Germany. And it can be able to issue its own currency company’s products to carry out the proprietary trading system.

Rainer Bergmann is the Tremmel’s managing director. He will be responsible for the bank and also the expansion it into the custodian bank with the company Bitcoin Group SE.

The purchase rate for the Tremmel investment bank is in the lower seven digit range in Euros. It is regarding the releasing of the press notes which is set to be finished in the half of next year (2019), only the regulatory approval is pending which is relevant to the crypto exchange.

Germany saw the foundation of the first Bitcoin currency exchange ATM at the end of October. It is set up in a Gambling hall in Munich.

GoverMedia Plus is the Canadian trading firm. It is to get EXMO which is the UK based cryptocurrency exchange. Almost both the parties agreed and had been legally signed an LOI, letter of Intent, which can publicly trade.

Crypto Bulls launches first UAE-registered crypto exchange

Crypto Bulls launches first UAE-registered crypto exchange

According to reports in local media, Dubai is now all ready for the presentation of a lately crypto exchange, the initial type of exchange in (UAE) has been greeted as a landmark growth in the growing city of Dubai cryptocurreny market, as industry, regulators, and administration endure to pursuit crypto commercial and asset.

As per a report published in The Gulf times, cryptocurrency company Crypto Bulls has collaborated with Gulf Coin Gold and Al Zarooni Group to start a new exchange, a would let it concentrate on the Dubai market.

Chairman of the Al Zarooni Foundation Suhail Al Zaroon stated that this new changes might assist UAE in gathering investors from many cryptocurrency trades and depositors. On this subject, he stated that this new landmark for getting worldwide investments chance from everywhere in the World in UAE, as all monetary technology and savers are looking forward in Cryptocurrency and Blockchain Business.

The novel cryptocurrency exchange has the support of the administration in UAE that harbors drives of converting Dubai into an anchorage for cryptocurrency and blockchain industries subsequent the paths of authorities like South Korea, Malta as well as Singapore.

The administration has before hurled its blockchain approach, which goals 50 percent of administration dealings by 2021 in regards to the blockchain.

Due to this Dubai has lately seen huge events recruited in the provision of the sector, that contains fresh regulation for the subdivision, as well as the pending launch of a government-backed cryptocurrency.

Shasha Gupta of Crypto Bulls said, on this subject, he stated that this new landmark for getting worldwide investments chance from everywhere in the World in UAE, as all monetary technology and savers are looking forward in Cryptocurrency and Blockchain Business.

Agrocorp launches blockchain platform for real-time updates on commodity trades

Agrocorp launches blockchain platform for real-time updates on commodity trades

A new blockchain method has been planned to aid farmers to accept payments for their goods more rapidly, allowing events on the supply chain to look into the foundations of their merchandises and making it cooler for them to learn more particulars of their trade as well. The platform is a teamwork among commodity trading firm Agrocorp International, Singapore’s DBS Bank, and blockchain provider Distributed Ledger Technologies. It is predictable to enlarge its presence beyond Australia by the end of 2019 to other derivation markets like Canada, Myanmar and Ukraine.

For a start, the microelectronic platform attaches about 4,500 farmers in Australia to worldwide end-customers such as superstores and cafeterias. Singapore being among the best importers of Australia’s farming products. A complete agricultural good distributed to Singapore in 2016 amounted to A$1.2 billion (S$988 million), including 3 per cent of the country’s exports.

Enterprise Singapore information displays on how the commodity trading contributed more than S$28 billion in indigenous business spending and borrowed about 15,300 professionals over the past five years. Benefits include being able to offer supply chain participants with real-time updates on commodity prices and delivery information, and trade financing approval for orders coming in from any part of the world.

It typically takes five to 10 days, he added, for such documents to be ready and presented to a counter-party to verify that the goods have indeed changed hands.

Recently, speaking to The Straits Times forward of the new plan launch, Agrocorp’s head of business expansion Vishal Vijay stated that the exercise has been for both the members to wait for documents to be created and approved from one party to another, before a handover of tenure of goods happens.

With this new plan, farmers will be able to access product prices and list sales and purchase contracts that will be stored digitally. Upon “activate events”, such as validation that goods have been transported, the system stimulates DBS to take movements such as discharging payments.

Seminal cryptocurrency may take years to prove successful, says Patient Zero Wences Casares

Seminal cryptocurrency may take years to prove successful, says Patient Zero Wences Casares

In an interview with Bloomberg, Xapo founder Wences Casares stated that “Bitcoin is an intelligent research that might take years to prove successful if it does at all and it could be several years before it proves successful. It might work, it may not work,” noting that Bitcoin is in its initial stages and that we are in the same of 1992 for the Internet. Though, Casares recommended that the prospect of achievement is still larger than its disappointment.

He believes that Bitcoin can be positive if it develops a worldwide customary system of value and payment. While it’s improbable to substitute national currencies, it could signify a worldwide standard of price, he said.

Casares raised up in Patagonia, Argentina, clarified at the time of the interview that he had seen his family lose the whole thing three times during his childhood due to investment failures and hyperinflation. He, like numerous technology experts, associated the creation of Blockchain technology to the formation of the Internet in terms of its state-of-the-art potential.

Casares stated:

“We need a nonpolitical standard of value and we don’t have one. So a world in which we [see it] is a world [in which] when you ask for the price of Turkish lira, you get a price in bits, when you ask for the price of a barrel of oil, you get a price in bits, when as for the price of the U.S. dollar you get a price in bits.”.

In the year 2017 Casares had forecasted that the value of Bitcoin would finally reach $1 mln. During the Jan. 12 interviews, Casares said the same thing about the similar prediction, but in an improved form, calling Bitcoin and crypto in over-all a “thought-provoking experiment” and predicting BTC’s $1 mln price if that experimentation must prosper. According to Casares, the future of crypto lies in the collaboration around an extraordinary, tough Blockchain, and in his opinion, Bitcoin’s is the most likely to be the Blockchain of high-quality.

He further stated that “There is a huge incentive to have one very, very robust blockchain. At least for any process that, in the end, will be moving value of any kind […] There may be other use cases that do not entail value that may merit a different blockchain, but in terms of value, it’s most likely, in my opinion, that we’re going to have one. And right now, the most likely one seems to be the Bitcoin blockchain.”

Casares predicted that it will take at least seven years to regulate whether BTC is fruitful, and if it does, BTC will develop a non-political worldwide standard of worth and payment. Particularly, the Bitcoin supporter stated that it will not replace fiat currencies as “it does not make any meaning.” He added that the awareness that a blockchain can “alter the idea of an asset, that already originates its value from a dominant authority it’s really ridiculous and does not have sense.”

Casares has earlier announced his dream of BTC becoming an apolitical standard of value. Last year Casares predicted that the price of BTC “will hit $1 million in 5–10 years.”

Real-World Problems Getting Solved With Use Of Todays Crypto Exchanges And ICOs

Real-World Problems Getting Solved With Use Of Todays Crypto Exchanges And ICOs

The majority of ICOs are solving real-world problems with the use of blockchain technology. But not all of them require a coin or token to do this. That’s because the applications of blockchain technology and smart contracts can often achieve the same results without the coin/token.

Most ICOs have become a simple case of solving the right problem with the wrong business model. Their technology is needed in the market but a coin/token may not always be required. Today, the initial coin offering market is in turmoil with some ICOs closing down. Others are prolonging their capital raising with the hope that the market will pick up. However, this is unlikely to happen soon as new patterns are beginning to emerge from the rubble.

Most ICOs have become a simple case of solving the right problem with the wrong business model. Their technology is needed in the market but a coin/token may not always be required.
Whilst the challenges facing the ICO market sparked some controversy in the blockchain ecosystem, this has also led to new developments and trends with crypto exchanges and ICOs.
Here’s a fresh look at some of these new patterns that are transpiring.

Crypto exchanges will develop new business structures

ICOs may have to rethink their business structure and the same could occur with crypto exchanges. Ras Vasilisin, the CEO of Virtuse, a crypto exchange that pairs cryptocurrencies with real-world assets, believes that exchanges will evolve into entirely new business entities.

There will be more security tokens (STOs)

The crypto exchange Huobi has been developing interests in the STO market with its recent investments in the security token exchanges OpenFinance and SharesPost, hinting that there will likely be more STOs. Similarly, Coinbase expanded its scope into the STO segment by acquiring 3 companies.

Trading volumes will increase on decentralized exchanges (DEX)

Several top exchanges are working on transitioning to non-custodial trading, from Binance DEX to Coinbase acquiring Paradex, to Bitfinex’s Ethfinex Trustless. 0x, a DEX protocol that is not associated with any centralized exchanges has also been gaining momentum with their recent V2 launch.

Ivan Bogatyy, the General Partner at MetaStable Capital sheds some light. “Now that centralized exchanges are pouring significant resources into solving these problems, we will likely see a significant increase in DEX trading volume share in the next year or two.”

Craig McGregor, the CEO of DSTOQ, a regulated stock exchange echoes similar beliefs. “A trend that has largely taken the world of crypto exchanges by storm is ‘decentralization.’ As a result of numerous security issues plaguing centralized crypto exchanges, more and more users prefer decentralized crypto exchanges.”

M&A of coins and initial exchange offerings (IEOs)

In South Korea, a crypto ecosystem that is dense with over 90% of the crypto community residing in Seoul is growing their ecosystem together. This includes Korean exchanges, startup hubs and crypto coworking spaces like the Bitcoin Center Korea.

Jin Gil Lee and Sang Wook Kim, the co-CEOs of the Korea Crypto eXchange (KCX) believe that Korean crypto exchanges will become institutional investors, resulting in the M&A of crypto coins. Lee says, “Some coins may then receive liquidity after investment from exchanges, hence, receiving a lifeline that would ‘resurrect’ under-valued coins”.

Kim adds, “Initial exchange offerings (IEOs) may in the near future, serve as a model that could soon replace ICOs by listing projects directly on exchanges — without them necessarily needing to go through an ICO.” Assuming that Kim is correct, IEOs could now be the new ICO.

New Study Reveals Bitcoin’s Help Towards Nuclear Energy

New Study Reveals Bitcoin’s Help Towards Nuclear Energy

The bitcoin network has been running by the miners, processers that uphold the shared transaction ledger known as blockchain. AS per the recent reports it has been evaluated that this procedure consumes at least 2.6GW of power which is responding to blockchain miners’ requests for power with about 500MWe of initial mining capacity. This number could increase to 7.7GW before the end of 2018—accounting for almost half a percent of the world’s electricity consumption. A vital point here is that the trouble of the removal task mechanically adjusts to preserve a 10-minute regular block creation rate. So if more figuring power joins the net, the result is not larger bitcoins that get prepared. Instead, it takes more computing power to make each bitcoin, making current mining hardware not money-making than before—and driving up the vigor consumed per bitcoin.

There are 2 kinds of novelties are the nuclear era that attaches the atom and the cryptocurrency procedure that unchecks financial freedom. They’ve extra subjects in not uncommon than just being disapproved and will if truth be told addition each and various to be able to develop reply to detractors. Nuclear fission, the physical process that issues power in a nuclear reactor, cannot be rested or remain motionless at any person’s will. It might perhaps most operative be temporarily controlled. A nuclear energy plant (NPP) makes use of this nuclear reply in an achieved approach to mainly boil a fluid, progressively water, which in flip runs via huge vapor generators to create electrical energy. Additionally, it does that, the extra atmosphere friendly it’s. This is the example where it does no longer save any gasoline, which is actually wasted.

The once a year international energy intake of the bitcoin core community is around 22 TWh. Crypto-currencies like Bitcoin do not rely on centralized computer servers. People who provide computer processing power to the crypto-currency system, to enable transactions to take place, can get rewards in Bitcoins. The four smaller gadgets, 1,760 MW general capability, are closed beneath power from the EU however if the Kozloduy NPP was once in operation with all of its half-dozen reactors it had been once generating over twenty,000,000 MWh or twenty TWh of power. That’s nearly up to the bitcoin community requirements, and it wasn’t even its complete capability. Therefore it appears to unwed atomic energy station, designed at intervals the 70s and 80s of the ultimate century, is in a position to gratifying the facility needs of bitcoin mining. By means that of the simplest method, government at intervals the Russian space of St. Petersburg have already introduced intentions to facilitate the development of large-scale mining farms in the associate degree business park they arrange to organize on the previous NPP in Sosnovy Bor. The St. Petersburg Atomic Electro-Station can most likely be wholly decommissioned by means that of 2021. Presumably, they want to invite miners to mint money at energetic atomic energy crops as neatly.

At some point, the high energy of bitcoin use is difficult that will give resolution itself over time. The bitcoin network is developed to lessen the block recompense in high percentage every 4 years, with the next splitting is forecasted to take place somewhere in mid-2020. When that happens (knowing that a continuous bitcoin price) the mining industry’s income will fall in half.

Venezuelan Uses online Retail giant for crypto profit

Venezuelan Uses online Retail giant for crypto profit

Amazon, a global conglomerate offered recently a discounted signups for it’s fantasy game RunScape through its new platform twitch. A source very close to game developers revealed that about one-third of the people who took advantage of this promotional offer were from Venezuela. The game was flooded with hundreds and thousands new entries who were using credit cards, which had seriously questionable legitimacy. These cards appeared to be fraudulent or stolen or the passwords if these credit cards would have been hacked added the source.

“Amazon failed to conduct proper measures and checks to verify the legitimacy of the cards and hence such fraudulent cards easily got registered.

As per the company it has approached Amazon for its comment on this issue of not conducting proper screening measures.

Venezuela is facing one of the most disastrous economic crisis in the history of the world. The crisis is worse than the great depression. The rising hyperinflation and shrinking economy of Venezuela have made even the most ordinary food items priceless and people are forced to live hungrily.

Venezuelans have found a unique way to tackle this economy crisis, they are using video games to tackle this economic turmoil even though the profit earned is very less they are adopting this unconventional method.

In fantasy games like RunScape Venezuelans are doing an outlandish concept called “gold farming”. They are cultivating virtual hold in a video game and they trade this virtual asset with other users for foreign currency, Bitcoin or other cryptocurrencies since the hyperinflation has made the Venezuelan currency Bolivar worthless. Many of these virtual gamers are able to make only a few pounds for the entire day.

Still, these gamers fare these gold assets better than salaried workers of Venezuela as their earnings are indexed to Venezuelan black market dollar exchange age.

Trading virtual asset for real money goes against the spirit of the game and it is forbidden in the game. Venezuelans compelled to use this unconventional method of earning have now started to contribute to the inflation in the virtual world.

Efrain Pena, 29, sad he had never made this much money before and no other job can match what money he is making now. He plays games to support himself and his family another young unemployed computer engineer said that it was shameful and he never thought that virtual currency would have a worth more than the currency of his country
Venezuelan government earlier this year tried to control the crisis by taking certain measures. The government slashed five zero’s from the Venezuelan Bolivar but this could not do much to help the problem. Unemployment young and starving people are abandoning their country in search of better opportunities and the better life.

Venezuela’s yearly inflation hit 488,865 percent indicating the conditions are not recovering and the hyperinflation is increasing amidst the economic collapse

South Korean Police: $99 Million Gets Hacked From The Cryptocurrency Exchanges and Wallets

South Korean Police: $99 Million Gets Hacked From The Cryptocurrency Exchanges and Wallets

Hackers have illegally withdrawn approximately $99 million from crypto exchanges and wallets in South Korea, a new study unveiled.

The report was titled Measures and the status of Hacking Damage of Virtual currency in the last three years. The South Korean National Police Agency issues it. They are observing cryptocurrency related hacks which have attacked South Korean users since 2016. It finds that hackers have damaged a total of seven local crypto exchanges and 158 wallets till now. Police managed to capture six cyber criminals.

The numbers of attacks are also growing as the days went by. The crypto hacking incidents were lesser compared to the cases that are reported in the following years from 2016.

A piece of the report is: the amount of money which was stolen by the hacking of cryptocurrency exchanges has continuously been increasing every year. When the cryptocurrency exchanges activity was low in South Korea, a local cryptocurrency exchange firm Ripple4y confirmed an attack. Then the next year saw a notable jump with the hacking attacks at Coins, Bithumb, Apizon, and Youbit. These are the other cryptocurrency exchange platforms.

In 2018, police received complaints of only two hacking attacks. They are Coinrail and Bithumb. Bithumb is the South Korean crypto exchange platform. It got attacked by hacker twice.

The number of attacks grew when the cryptocurrency exchange world was undergoing a bull run. It was fascinating. The police reported that almost 50 percent of the total attacks which were reported took place in 2017. It happened when bitcoin and the other cryptos were climbing towards their heights.

The South Korean Government had inspected local cryptocurrency exchange platforms to their privacy and the other facilities like security, quality to their customers. All the results went through inspection were negative. Some of the exchanges which were got attacked pointed their security and privacy faults to the public after the Government. Many of the people believed that the hackers got their signal from the Government.

YouBit got hacked after the Government inspection in December. And the inspection was done in October. Hackers attacked Conrail and the Bithumb likewise after the Government inspected and pointed out their faults to the public.

South Korean Lawmaker Min Kyung Wook said that ‘the nature of cryptocurrency exchanges are always exposed to the hackers attacks. The hacking incidents occurred even in the places where the Government inspected some security checks’.