There are so many benefits to using a cryptocurrency, that it would seem foolish to neglect such an invention. For example, it allows you to send money anywhere in the world in an instant, with basically no fees involved. Everyone can be included in the financial system, it will change the way we interact with money, it can prevent fraud, and much more.
Monday, April 30, 2018
Cryptocurrency Market Approaches Eight-Week High as Rally Continues
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Iran Develops Own Cryptocurrency After Central Bank Bans Bitcoin Trading
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Meet the Russians Behind Your Blockchain (And Cryptocurrency, Too)
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Revolut Adds Support for Both XRP and Bitcoin Cash
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Are Earnings from Cryptocurrency Mining Subject to Taxes?
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CMA roots for regulator of cryptocurrency
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Analyst Predicts Ethereum Price to Hit a Record $2500 in 2018
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Indian Exchange Launches 23 Crypto-to-Crypto Trading Pairs with Zero Fees
Another Indian cryptocurrency exchange has launched crypto-to-crypto trading. Koinex is offering 23 crypto-to-crypto trading pairs with zero fees. Earlier this week, leading Indian exchange Zebpay also launched crypto-to-crypto trading but with only one trading pair.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Koinex’s Crypto-to-Crypto Trading
Indian exchange Koinex announced last week, “We are delighted to announce the commencement of crypto-to-crypto trading on our platform,” elaborating:
We are going live with not just one or two crypto-crypto pairs; we are launching a total of 15 token pairs, all at the same time!…This is the largest crypto-crypto pair offering by any Indian exchange and to add to this, the trading fees will be zero.
The exchange then announced on Saturday the addition of 8 more crypto-to-crypto trading pairs, set to go live on Saturday night.
In addition, the “seller fee has been revised to 0.15% for the INR market. Buyer fee is now fixed at a flat rate of 0.15%,” Koinex detailed.
As for deposits, the exchange clarified, “INR deposits via UPI and Netbanking are now live with payment gateway 2. Deposit fee is 1.18% for UPI and 2% for Netbanking.” However, Koinex reiterated that “all other payment methods are discontinued…All INR withdrawals are temporarily halted.”
23 New Trading Pairs
Koinex currently has 19 coins listed for trading against the Indian rupee. Its 24-hour trading volume for all cryptocurrencies is approximately $5.5 million, according to Coinmarketcap.
For crypto-to-crypto trading, there are nine bitcoin trading pairs, six ether, and eight ripple –a total of 23. Bitcoin and ether trading pairs are already live and ripple pairs are set to go live on Saturday night, the exchange clarified. “For the first time in the crypto world, Koinex proudly presents XRP-based trading market with 8 XRP pairs going live tonight.”
“The tokens available in the bitcoin market will be ethereum (ETH/BTC), litecoin (LTC/BTC), TRON (TRX/BTC), ripple (XRP/BTC), omisego (OMG/BTC), bitcoin cash (BCH/BTC), EOS (EOS/BTC), nucleus vision (NCASH/BTC), and request (REQ/BTC),” Koinex wrote.
For the ether market, in addition to BTC, the exchange is offering trading pairs for BCH, TRX, XRP, OMG, EOS, and NCASH.
For the ripple market, customers can trade BTC as well as LTC, TRX, EOS, OMG, REQ, NCASH, AE (aeternity), and GNT (golem).
Bypassing RBI’s Order
One of India’s largest cryptocurrency exchanges, Zebpay, also launched crypto-to-crypto trading last week with one trading pair – ETH/BTC.
Both Zebpay and Koinex launched their crypto-to-crypto trading services after the Reserve Bank of India (RBI) issued an order banning banks and financial institutions under its control from dealing “in virtual currencies or provide services for facilitating any person or entity in dealing with or settling virtual currencies,” Koinex described, adding that:
Such services include maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase/ sale of virtual currencies.
The exchange warned that RBI’s order could cause “a disruption in [its] banking services” which “may affect our capacity to service withdrawals and deposits seamlessly.”
The RBI has since been taken to court by Kali Digital Eco-Systems. The Delhi High Court has accepted the company’s petition and issued a notice to the central bank. Other exchange operators are also planning to challenge the regulator as a consortium.
What do you think of Koinex launching crypto-to-crypto trading with 23 trading pairs? Let us know in the comments section below.
Images courtesy of Shutterstock and Koinex.
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New Store Sells Cryptocurrencies for Regular Old Cash in Croatia
A “Bitcoin store” has opened doors in Croatia. It sells bitcoin and other cryptocurrencies, and even issues receipts. The shop is a welcome addition to the steadily growing crypto sector in the Balkan country. The team behind the project plans to expand to all major Croatian cities and even other countries in the region.
Also read: Steps towards Self-Regulation in Croatia and Slovenia
OTC Point of Sale Now Operational in Split
The new walk-in point of sale is located in the Croatian city of Split, a famous tourist destination on the Adriatic coast. The store on Hrvatske Mornarice Street currently offers direct sales of bitcoin, ether and other altcoins, Bitfalls reports. The premium is around 5 percent on top of the average prices at Coinmarketcap. Customers are given a receipt and proof of purchase for tax reporting purposes.
Bitcoin Store is arguably the first of its kind in the country, and probably on the Balkans. Bitkonan, the Croatian crypto exchange behind the project, has plans to offer similar OTC (over the counter) solutions to residents and guests of other major cities, starting from Zagreb and Rijeka. Its team also hopes to expand in the region, depending on demand for this kind of service in neighboring countries.
The cryptocurrency sector in Croatia, including crypto trading, has seen a rapid development. Bitfalls’ own project, Coinvendor, is already processing direct purchases of digital coins through bank transfers and its services are available globally. The Bitcoin Store in Split now adds another dimension, offering cryptocurrencies for fiat cash.
Croatians Helping Their Government with Regulations
Interest towards cryptocurrencies like bitcoin and blockchain technologies has increased significantly in Croatia over the last several years. The local crypto community has grown with many new crypto companies and businesses accepting crypto payments. Bitcoin ATMs have been installed in major Croatian cities, including the capital Zagreb, the second-largest city Split, Rijeka, and Pula.
The Croatian government, however, has yet to respond adequately to the bitcoin boom and adopt a long-awaited comprehensive regulatory framework. The Croatian National Bank (HNB) has taken a conservative stance. It stated last year that cryptocurrencies are not legal means of payment under the current laws in the country. The central bank also noted that they should not be considered electronic money.
Earlier this year, blockchain businesses and crypto enthusiasts in Croatia announced intentions to “help authorities take informed decisions” about the cryptocurrency sector. The local crypto community established a new organization called Udruga za Blockchain i Kriptovalute (UBIK), or Blockchain and Cryptocurrency Association. Its main task is to channel their efforts towards adopting meaningful regulations. UBIK has already declared readiness to advise authorities on all crypto-related matters. It is also providing legal, financial, and technical support to its members.
Do you agree that over the counter bitcoin sales can bring more people into the crypto world? Tell us in the comments section below.
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Hong Kong Alcohol Company Buys 51% of Bitcoin Miner for $60 Million
Regardless of what the central Chinese government tries to do or say, bitcoin and cryptocurrency remain popular investments among everyday people in China. And a new way to get exposure to the ecosystem just materialized for those with access to the Hong Kong market, a publicly traded company entered the mining industry.
Also Read: This Week in Bitcoin: Amazon Wants to Track You and TD Ameritrade Plants a Flag
Wine and Mine
Diginex Limited, a multinational crypto-asset investment company headquartered in Hong Kong has announced it sold a 51% stake of its cryptocurrency mining and high performance computing (HPC) operation for $60 million USD to Madison Group Holdings (HKG: 8057), a distributor of alcoholic beverages. An MOU (memorandum of understanding) between the two companies detailed a number of synergies, including the leveraging of Diginex’s proprietary platform Digiassets that can be used by holders of cryptocurrencies to purchase high value wines and other assets.
Madison Holdings Group, formerly Madison Wine, is an investment holding company mainly focused on the retail and wholesale alcoholic beverages business. The company offers a wide spectrum of fine wines, wine related products and other spirits such as premium and rare whiskies, cognacs and Chinese baijiu in Hong Kong. Madison is listed on the Hong Kong Stock Exchange since 2015.
GPU Farms in Asia, Sweden and Switzerland
Diginex, which privately owned, has offices in Hong Kong, Switzerland, Germany and Japan. It has mining operations in Asia, Switzerland and Sweden. The $60 million investment by Madison is said to allow Diginex to fast track the expansion of their GPU mining operations in Western Europe in partnership with hardware suppliers, power and security providers in order to build a secure and efficient GPU-based cryptocurrency mining data center.
Miles Pelham, the CEO of Diginex, stated: “this cash injection allows us to expedite our steps towards becoming the global provider of Distributed Ledger Technologies. We will continue to build out our mining operations in Sweden and Switzerland, but also focus on helping corporates and governments across the world to implement transformative DLT applications.”
Are there any synergies between wine cellars and crypto mining farms that these companies can now exploit? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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ICBC's First Blockchain Patent Is Now Public
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Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further?
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Bitcoin [BTC] has been compared to regular cash – The Federal Reserve Bank of St. Louis
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Here We Go Again: Warren Buffett Says Bitcoin 'Not Investing'
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Dubai Police Catch 10-Man Gang Responsible for Bitcoin Robbery
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17000000th Bitcoin To Be Mined Soon – What's The Relevance?
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BitcoinTV by World Crypto Network on YouTube
The Bitcoin News Show for the week of Apr 23rd with your host @theonevortex and panelists @lopp @WeathermanIam @paullinator @udiWertheimer Quickbits: Thanks so much to everyone who came out and saw us at the Denver Meetup at the Grid co-working space! The bcash team built a transaction visualizer, but it backfired by showing that there are hardly any cars on the bcash freeway, and a constant stream of traffic on BTC https://txhighway.com/ Recent article on bloomberg states that The best performing ICOs are the ones without working products https://twitter.com/TheStalwart/status/940528777829998592 It's official, #bitcoin is now the 5th largest economy in the world. In 2017, the BTC on-chain economy had a nominal GDP of $3.6 trillion. https://twitter.com/chartingbitcoin/status/989637134482051073 It has been reported that Bitcoin was the ninth most read Wikipedia article last year, coming out ahead of cultural sensations like Wonder Woman, Elon Musk, and Star Wars. https://ift.tt/2I51fte The 17 Millionth Bitcoin Is About to Be Mined https://ift.tt/2JsnskE Rumor: Nasdaq May Launch Bitcoin Trading in October 2018 https://twitter.com/theonevortex/status/990211233818198016 Topics: 600+ Bitcoin Users Seek Lawsuit Against Bitcoin.com & CEO Roger Ver https://ift.tt/2vOvXEQ Both Wikileaks and CheapAir were left hanging by coinbase, but now WikiLeaks Store has since secured a new payment processor, coinpayments.net https://ift.tt/2JDg46a Lightning Network Debate with Paul Puey
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BitcoinTV: by BitcoinMeister on YouTube
Rhett had an original idea when he came up with Zclassic/Spork concept. He has quickly moved on to Bprime and now other parties are trying to copy Bprivate and Spork Zclassic again. Meanwhile we still do not know how succesful the original project (Bprivate) will end up being. BTC is not for victims, welfare coin, Bdiamond, Tai Zen, and more! MoneroV Photo of day- https://twitter.com/Michaelcrosson1/status/990714277324566528 Rhett- https://twitter.com/bitcoinprivate/status/989980333998247936 MOre Rhett- https://twitter.com/HeyRhett/status/990030535241224192 Rhett pumps bprime https://twitter.com/HeyRhett/status/990049906219012102 Primecoin pump- https://ift.tt/2rMCiJA Bprivate--- https://ift.tt/2HBuUNR Zclassic warning? https://twitter.com/ZclassicCoin/status/989706154635857921 Not a BAnon fan- https://twitter.com/CryptoMoshing/status/990298942012313607 Link to Ran's show- https://twitter.com/cryptomanran/status/990405737326133248 MoneroV- https://ift.tt/2ra4FD9 Saturday's Beyond Bitcoin Show- https://www.youtube.com/watch?v=EeuoQClYYpE This week in Bitcoin- https://www.youtube.com/watch?v=uggPfmS_88s Thursday's show- https://www.youtube.com/watch?v=A7URVPDcwTY Wednesday's show- https://www.youtube.com/watch?v=_etlXBBP36A Wednesday's Denver Group show- https://www.youtube.com/watch?v=d-ndokA8PNM Tuesday's show- https://www.youtube.com/watch?v=32d3YBEC4kk Clip from my LA talk- https://www.youtube.com/watch?v=D8C9PDPYm5M Monday's show- https://www.youtube.com/watch?v=xQ4ViS4SmZw WCN Podcast- https://ift.tt/2nXTVHm Bitcoin people you need to know- https://www.youtube.com/watch?v=YuWlWnJqHn4 Email the Disrupt Meister intern- clark@disruptmeister.com & tell us why you want to be an intern! -------------------------------------------------------------------------------------- Get anonymous VPN and PROXY at Torguard! https://ift.tt/2GZTerr CryptoHWwallet affiliate link- https://ift.tt/2pynGy4 "MeisterFreeHW1Over200" This is the coupon that is for people who spends over $200 (exclude shipping) to get a free H.W1. Ledger hardware wallet. Limit 10 pcs only coupon use at first, first come first serve basis only. 1 per customer for up to 10 uses. UPVOTE THIS- https://ift.tt/2Jo1TSl Buy your Bitcoin Trezor storage device here: https://ift.tt/2l8wT08 Buy Bitcoin at Coinbase here: https://ift.tt/2frK5re CryptoHWwallet affiliate link- https://ift.tt/2pynGy4 Adam's Twitter- https://twitter.com/TechBalt Adam's Minds- https://ift.tt/2r6vSJk Support the cause if you like what I have to say: BTC: 3HZngc6ASzt3deDm582u8xJRFAwmz7YTwG ETC: 0xb28CD007E0495b34BA6030859030322b7bE8422B Monero: 49broKTMLfFBZtzFFWptyqbuTF4rm7Pp6HZj4ReRuKQf3Z6uFjCbWgs6n4ymX5aYTsczoELGd3vYSD4XUQrjvy3S5qTsN3s LTC: LQm55H4oUCoVPiBd25A4v2jHXLtC9oo9Jg ETH: 0x0feb7bCd89C4Ea0c14FC7D94b9afBDE993034AD5 DASH: Xjcpo8Lh6NKQoV3F12pGpXUiK4XRoQyudN Decred: Dsoq2ZPcqQDj5TSBLMAFX2SxCMHaYFnDty4 BGold: AN6p1tD2KwRKvhiinprN9wCqGe4KUqPsY5 My latest Steemit post: https://ift.tt/2GtwOzJ My Steemit page: https://ift.tt/2eAQkeJ https://www.youtube.com/c/BitcoinMeister https://ift.tt/2fIBPWR Value of every cryptocurrency- https://ift.tt/2k3W6aj Watch more of my Bitcoin videos here: https://www.youtube.com/playlist?list=PLLgyAakZPtCVQKl6naVHUfOiICFG8BYMp Adam Meister is available for an hour long Bitcoin/cryptocurrency consultation where he can walk you through the Trezor installation process and help you move your Bitcoins to the Trezor. He will answer all your questions in that hour. Trezor is just one Bitcoin topic that Adam can help you with, you can ask his advice on anything cryptocurrency related. From marketing and promotion to Altcoins to storage and the buy and hold philosophy. Adam's hourly rate is 0.11 Bitcoin. Feel free to email: Adam AT TrezorHelp DOT com to set up a Skype/phone consultation or to arrange an in person appearance or speaking engagement. Adam is available to speak at conferences around the world. Follow Adam on Twitter here: https://twitter.com/TechBalt Buy your Bitcoin Trezor storage device here: https://ift.tt/2l8wT08
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PR: LEEKICO helps Blockchain Network Connectivity Project NKN to Close Successful Crowdfunding
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Sydney, Australia – LEEKICO, a one-stop-service ICO platform, successfully supported NKN, a project aiming to rebuild the Internet that will be truly open, decentralized, dynamic, safe, shared and owned by the community, completed its highly anticipated token sale on April 19th, 2018. With LEEKICO’s support, NKN collected a total of ETH 24,100.
NKN’s early bird sale, which was only opened to participants who were previously whitelisted for the project, started on April 2nd and was completed on April 8th. The main ICO took place on April 19th and collected 70% of the hard cap in the first 3 minutes, with the cap reached shortly after.
LEEKICO supported NKN in both stages of the ICO, managing the KYC (Know Your Customer) whitelisting during the first stage and the crowdfunding during the second. Thanks to LEEKICO’s service and marketing support, the project managed to reach 2,000 participants, and generate over 9,000 new sign ups to LEEKICO’s platform and deliver over 15,000 visitors per second to the project’s website at its peak.
NKN (New Kind of Network) is a new generation of highly scalable, self-evolving and self-incentivized blockchain network infrastructure. NKN addresses the network decentralization and self-evolution by introducing Cellular Automata (CA) methodology for both dynamism and efficiency. NKN tokenizes network connectivity and data transmission capacity by a novel and useful Proof of Work.
NKN focuses on decentralizing network resources, similar to how Bitcoin and Ethereum decentralize computing power as well as how IPFS and Filecoin decentralize storage. Together, they form the three pillars of the Internet infrastructure for next generation blockchain systems. NKN ultimately makes the network more decentralized, efficient, equalized, robust and secure, thus enabling healthier, safer, and more open Internet.
“NKN intends to revolutionize the entire network technology and business. We want to be the Uber or Airbnb of the trillion-dollar communication service business, but without a central entity” Said Yanbo Li, founder and core developer of NKN. “We aspire to free the bits, and build the Internet we always wanted, and we could not have found a better partner than LEEKICO to help us run the token sale while we focus on developing our vision.”
NKN is an open source community-driven blockchain project, where the team members join on a voluntary basis. The project is spearheaded by experienced blockchain, network and computing specialists including Yanbo Li, previously co-founder of Onchain, and eminent advisors such as Whitfield Diffie, winner of the 2015 Turing Award.
The LEEKICO platform allows project teams to focus on developing their solution and technology by taking care of the ICO process. LEEKICO applies strict KYC (Know-Your-Customer) and region restriction policies and works with compliance agencies on top of its rigorous due diligence process to ensure a successful token sale. The LEEKICO team thoroughly reviews each project team, solution and plans, before giving them access to its friendly customer support team, marketing and promotional resources, as well as its network of over 30,000 users in 40 countries.
LEEKICO is extremely experienced in managing both private sales and crowdfunding and has successfully supported a number of projects including IPFS, Singularitynet, Qash, INS, Cybermiles before NKN.
LEEKICO is currently supporting the upcoming ICO of Shivom, a new blockchain project aiming to provide a platform where individuals can ‘donate’ their genomic data for use by researchers, securely store and control who accesses the information, and earn rewards as a result.
About LEEKICO
LEEKICO shares the belief of asset decentralization and commits to promoting the wave of global cryptocurrency start-up companies. LEEKICO aims to build an initial coin offering platform with ensured security, integrity, fairness and transparency for both start-up companies and investors. LEEKICO provides cryptocurrency and blockchain start-up companies with crowdfunding services, and provides investors with comprehensive cryptocurrency consulting services, pre-ICO, and post-ICO management service. Both start-up companies who are planning to go through an ICO process and investors who are involved in ICO projects will enjoy the best experience with LEEKICO’s one-stop service provided by the LEEKICO platform.
http://leekico.com/
About NKN
NKN (New Kind of Network) is a new generation of highly scalable, self-evolving and self incentivized blockchain network infrastructure. NKN addresses the network decentralization and self-evolution by introducing Cellular Automata (CA) methodology for both dynamism and efficiency. NKN tokenizes network connectivity and data transmission capacity by a novel and useful Proof of Work. The NKN Foundation is registered in Singapore.
Contact Email Address
simon@inmatt.com
Supporting Link
http://leekico.com/
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Bitcoin.org Reverts Back to ‘Fast’ and ‘Low Fee’ Descriptions on Front Page
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This Week in Bitcoin: Amazon Wants to Track You and TD Ameritrade Plants a Flag
Over the past few days we learned about how Amazon wants to track your bitcoin transactions, why TD Ameritrade planted its flag in the blockchain, and even how close to reality are flying cars. These stories and many more were covered in this week’s daily editions of Bitcoin in Brief.
Also Read: Cryptocurrency Mining Accounted for 10% of AMD’s Overall Revenue in Q1 2018
Snatching Blockchain, Tracking Bitcoin
On Monday we reported that online retail giant, Amazon, has obtained a bitcoin tracking patent. The company thinks that by collecting data from multiple sources and finding a correlation with transactions it can link a specific bitcoin address with a shipping address, an IP, an email, a bank account, or a social media profile. And the patent specifically notes that police forces may be interested in receiving such data.
Meanwhile, Amazon’s main brick-and-mortar competitor, Walmart, has gotten its own blockchain patents. The company plans a vendor payment sharing system that will automatically process payments for products and services, and encrypt the transactions on a blockchain.
Wary Giants, Eager Dwarfs
When highly centralized political entities try to limit the spread of a popular product or technology it is no surprise that nearby locations will try to capitalize on such an opportunity. On Tuesday we reported about how this is seen now with bitcoin, with places like Malta, Hong Kong, Singapore and even Crimea jumping in while China, Russia, and the European Union get left behind. The next day we reported that the tiny nation of San Marino also wants to take a part of the blockchain action.
Crypto Leakers, Hackers and Rappers
On Wednesday it was revealed that Wikileaks has switched its store to Canada’s Coinpayments and that its publishing arm has expanded its own bitcoin and privacy system. The organization also attacked its former service provider: “Coinbase has become an unreliable and even dangerous service, subject to arbitrary, non-transparent actions as it merged with the US banking sector and started to provide information on its customers to the US government. It has become everything that Bitcoin was designed to stop.” Additionally covered were Snoop Dogg to perform at an upcoming Ripple event, hackers blackmailing governments, a new crypto VC from by Andreessen Horowitz, and the vote against restoring Parity’s lost ethers.
Big Money Wears Big Horns
The main focus on Thursday was on comments by John Pfeffer, an hedge fund manager that predicts the price bitcoin could rise to no less than $90,000 in the next couple of years, and potentially as high as $700,000. “When I think about the displacement argument, I start with gold. It’s kind of silly – we are a space-faring, digital society and we’re still using a yellow metal as our non-sovereign store of value. At some point we’re going to come up with a better technology for that and bitcoin is the first candidate. We’ll see if it works,” Pfeffer said. We also reported that the Chicago Board Options Exchange wants to lower the minimum increment on its bitcoin futures contracts.
First Ad in the Blockchain
On Friday we reported about an alleged pump and dump scheme by a group of crypto influencers. A whistleblower says he was invited to join the group’s Telegram channel where he saw their supposedly incriminating messages. According to the screenshots, members of the group discussed how much cryptocurrency would be needed to control 25% of the trading volume, how long it should be held, and when it should be dumped. Additionally covered is how TD Ameritrade claimed to have become the first company to embed an advertisement in the bitcoin blockchain. According to Denise Karkos, Chief Marketing Officer at TD Ameritrade, there is “no expectation beyond creating a little buzz for the brand” and enjoying the process.
Fork-o-Mania and Flying Cars
Finally, flying cars were featured on Saturday’s weekend edition of Bitcoin in Brief. The retro-futurist transports are promised to debut at an upcoming blockchain conference in Dubai. We also reported why Binance boss CZ has decided to take a stand against mainstream media journalists that write about bitcoin without ever owning a coin or completing a transaction.
This Week in Bitcoin Podcast
To make sure you didn’t miss any big bitcoin news this week, listen to the following podcast:
What other stories everyone in the bitcoin world must have read this week? Share your thoughts in the comments section below.
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The post This Week in Bitcoin: Amazon Wants to Track You and TD Ameritrade Plants a Flag appeared first on Bitcoin News.
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