roadrunner

The Gibraltar Financial Services Commission (GFSC) has updated its guidance notes for distributed ledger technology (DLT) providers to include recommendations for risk management, as well as clarify aspects around the issuance of digital assets. In a statement released on September 17, the regulator said the new updates are part of an ongoing effort to adapt its regulatory framework to include the latest Financial Action Task Force (FATF) recommendations for virtual asset service providers. Gibraltar, which has been criticized by the European Union for not doing enough to curb money laundering in the past, particularly in its DLT rules, describes the update as a “natural evolution of the defined regulatory principles.” According to the GRSC, the guidance notes update the risk framework to “distinguish between virtual assets and virtual asset denominated instruments that are generally classified as higher risk and require additional factors or onboarding tests to be considered.” Amendments to new token issuances prevent DLT providers from utilizing internally generated token reserves as part of its regulatory capital requirements. In total, the regulator has updated seven out of the nine guiding principles supporting the existing framework, launched in 2018. Gibraltar’s Minister for Digital and Financial Services, Albert Isola, commented: Prospective licensees must demonstrate a clear appreciation of the nine core principles underpinning the regulatory framework, covering areas such as corporate governance, capital adequacy, risk management, customer care, and in due course, market manipulation. Other essential prerequisites include thorough internal risk management strategies, robust corporate governance structures, and well-defined protocols, with secure checks in place to ensure the protection of clients’ assets is prioritised. Currently, 13 DLT providers are licensed under the Gibraltar Financial Services Commission, including international platforms Etoro, Huobi, Xapo, and Bitso. What do you think about Gibraltar’s updated DLT framework? Let us know in the comments section below. The post Gibraltar Updates Distributed Ledger Framework to Align With FATF Crypto Regulations appeared first on Bitcoin News. View the full article

A cryptocurrency analyst, Timothy Peterson claims that 1,500 bitcoins are lost each day meaning only 14 million BTC will ever circulate. The figure is at odds with the estimate of many organizations including Markets.bitcoin.com which place the figure at 18.5 million coins. Still, Peterson, who is the CAIA Manager at Cane Island Alternative Advisors, argues the merits of his assertions by pointing to how this average daily loss dwarfs the 900 bitcoins that are mined every day. Furthermore, to support his contention, Peterson points to a research note published by his organization earlier in the year. In the five paged document, the term “irretrievably lost” is introduced to the bitcoin lexicon. Explaining the term, the research note says irretrievably lost bitcoins represent funds or “money (that) is gone, it is no longer part of any economy anywhere.” The document adds that such bitcoins “are unable to be transacted and the cost of recovery exceeds the value obtained from successful retrieval.” According to Bitcoin.com Support, “all bitcoin transactions are irreversible, so there is no way to reverse a transaction that has already been sent.” Indeed, there are numerous cases of individuals that have misplaced or lost private keys thus losing access to their funds permanently. Earlier in the week, News.Bitcoin.com published the story of how hackers have been trying for years to crack a bitcoin wallet that is believed to contain 69,370 coins, which cannot be accessed. Meanwhile, after arguing their case, the team at Cane Island Alternative Advisors goes to say that based on own methodology used in prior research, they were able to estimate that: Since 2010, about 4% of the Available Supply of bitcoin has been lost each year. This puts the current Available Supply at about 13.9 million coins, well below the 18.3 million Total Supply figure publicized. This means that about 28% of all bitcoins have been Irretrievably Lost. To buttress their claims, the team at Cane Island Alternative Advisors refers to earlier studies on the same subject, first by Ratliff in 2014 and Chainalysis in 2017. The Cane Island Alternative Advisors was released on April 16, 2020. Meanwhile, some bitcoiners challenged Peterson following his September 14 tweet about bitcoin’s diminishing supply. Others like the Bitcoin Rabbi felt the figure of 1,500 bitcoins getting lost every day is very high. However, in his response, Peterson says: “(The) Chainalysis report, if you do the math, says 1900 per day a/o Dec 2017. My numbers are more conservative than that.” Still, the research note does not provide links to the Chainalysis report in question. Another Twitter user questions the research findings arguing that they “imply that in 30 years all 21 million bitcoin are lost.” While some argue that Peterson’s claims are an exaggeration, there is an agreement that the actual figure of circulating supply could be lower than the often reported 18.5 million. What do you think is the correct figure of bitcoin in circulation? Share your thoughts in the comments section below. The post Analyst: 1,500 Bitcoins Lost Every Day, Less Than 14 Million Coins Will Ever Circulate appeared first on Bitcoin News. View the full article

OneSwap is a groundbreaking new DeFi project offering a decentralized exchange protocol on a smart contract, with permission-free token listing and automated market making. It offers multiple advantages over other swaps including the ability to preform limit orders and a user friendly interface that resembles familiar trading platforms. OneSwap now lists the ONES token first and launches an “Initial Trade Offering” on the popular CoinEx exchange that has made a strategic investment in the project. DeFi Your Expectations With OneSwap CoinEx, a global cryptocurrency exchange service provider, is the first to have listed OneSwap’s ONES token. The exchange also initiated an “Initial Trade Offering” (ITO) event for ONES, where users can get corresponding mining reward from conducting an effective transaction since September 19. Rules for the ITO are also now publicly available. OneSwap is an on-chain one-stop trading service platform which combines the automated market makers (AMM) model that attracted a lot of investors to DeFi projects recently with an on-chain order book. This allows it to offer the best of both worlds from decentralized exchanges and traditional trading platforms, such as supporting limit orders. The protocol requires no permission to create a market or charges any fees for token listing. Users can inject liquidity into OneSwap’s trading pair capital pool with their idle digital assets and earn transaction fees as liquidity providers. The platform also provides popular trading analysis tools including candlestick chart, order ticket, depth map, price trends and trading volumes. The ONES token will be used to facilitate on-chain governance and distribute rewards. Users with a minimum amount of ONES can initiate proposals and all holders can vote on the proposals in the community as a way of on-chain governance. According to the whitepaper, 5% of tokens are set for initial mining rewards and 45% are set for forward mining. The forward mining rewards are mainly meant to support liquidity mining, transaction mining, community construction and development, promotion and publicity events and project partnerships. What’s more, ONES is a deflationary token in that it is repurchased and burned automatically by the token repurchase contract. 40% transaction fees generated in the Pair contract will be used to repurchase and burn ONES. Founded in December 2017, CoinEx is a professional cryptocurrency exchange providing trading services in over 100 locations around the world. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool and is also the largest BCH mining pool in the world. In July 2020 CoinEx announced it has strategically invested in OneSwap as the first project for its $50 million Ecosystem Development Fund after researching dozens of DeFi projects worldwide. CoinEx Initial Trade Offering Event for ONES CoinEx has first launched ONES worldwide on September 18. On September 19 CoinEx also launches an “Initial Trade Offering” event that will run for 20 days. During this period users can get ONES as a reward by trading on CoinEx (no limit on tokens, trading pairs or markets). The total daily reward is 25,000 ONES, of which 20,000 ONES is for spot trading (including margin trading) and 5,000 ONES goes to perpetual contract trading. Participants can also use CET as fees and enjoy VIP fees discount at the same time. OneSwap also officially supports yield farming and order mining simultaneously from September 19. Compared with other swaps, OneSwap has introduced the lossless order mining on the basis of yield farming. It is common sense for DeFi investors that any deviation in the token price under the AMM model will cause losses to investors in yield farming. The order mining pioneered by OneSwap can provide DeFi investors with a more robust investment method. It does not sacrifice any liquidity, and users can cancel transactions at any time without causing losses due to market changes. To learn more about how OneSwap works see the whitepaper on the project’s website, and check out CoinEx’s announcement for further information about the ITO. See the rules for yield farming and order mining here. This is a sponsored post. Learn more on how to reach our audience here. Read disclaimer below. The post CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official Launch appeared first on Bitcoin News. View the full article

Matt Kane’s “Right Place & Right Time,” a non-fungible token (NFT) digital artwork that changes every day with the bitcoin price volatility, claims the artist, has been sold for a record 262 ether or $101,100 on blockchain platform Async Art. According to a description of the artwork on Async Art’s website, a new composition for the master is generated independently each day based on BTC’s volatility and price action from the previous 24 hours. The work is composed of what the platform calls “layers”. Kane’s piece has 24 of these. Each hour’s price programmatically controls rotation, scale, and position of a correlating layer, it says. Viewers can surmise the day’s price volatility by examining the artwork. However, it appears that the artist himself might have some influence on the variations. “It’s humbling. I’m most excited I’ve helped open price levels for other digital artists to have their work taken seriously and begin making a living from art sales,” said Chicago-born Kane, in a statement shared with news.Bitcoin.com. “Until we could prove provenance and scarcity on the blockchain, how we sold digital art was prehistoric by comparison,” added the artist, who wrote the code, which generates the daily image changes. Token Angels, a crypto-focussed angel investor, and art collector, bought Kane’s piece. Variations of the artwork will be minted over the next 10 years and the artist will periodically put an NFT digital art on market to represent an important day in the life of Bitcoin. This NFT will also grant its token holder the right to purchase a physical print. “As a nod to Bitcoin’s 21 million fixed supply, the collector receives 21% revenue share of the individual NFT and print sales and there will only be 210 NFTs minted,” said Matt Kane. The artistic experiment will run as a creative counterpart to Bitcoin, using visualized volatility to aid the artist in mining 210 NFTs, he explained, adding: I’ll be investigating what a decentralized artwork can evolve into, as proof-of-work necessitates increasing challenges over time. But just like Bitcoin, the passage of time will be required in order to observe the grander masterpiece that is at work. Async Art says more than $2.3 million has changed hands on the platform since launch in February 2020. Artist sales have totaled over $400,000, it says. Built on the Ethereum blockchain, the platform specializes in something called programmable art – “digital paintings split into ‘layers’, which you use to affect the overall image.” More than $109 million worth of NFTs has been sold throughout the world since such sales started a few years ago, according to data from nonfungible.com. That’s from 4.82 million pieces sold at an average price of $22.65. What do you think about Matt Kane’s bitcoin-based NFT? Let us know in the comments section below. The post NFT Digital Art That Changes With Bitcoin Price Volatility Sold for Record $101,000 appeared first on Bitcoin News. View the full article

Singapore, September 20, 2020 — For the first time in the industry, MCS (MyCoinStory), a global cryptocurrency derivatives exchange announced the listing of SUNUSDT futures contract on September 18, 2020. Just a day prior to this launch, KLAYUSDT futures contract was released on September 17, 2020, which also was the first futures contract listing in the industry. The SUN token used in SUNUSDT futures is the most distinguished experimental DeFi (Decentralized Finance) project token by the TRON Foundation in these days. The data published by TRON Foundation claims that 6.7 billion TRON were staked during the SUN’s Genesis Mining period which is approximately $191 million. The KLAY token in KLAYUSDT futures is the native currency of the Klaytn blockchain developed by Ground X, a subsidiary of Kakao Corporation. This series of futures contracts release is called the “Colorful Quanto”, a series of quanto products with ‘colorful’ characteristics and variations. A quanto contract refers to a derivative instrument that is settled as another asset instead of either the base currency or the counter currency in a trading pair. MCS’s first quanto product, KLAYUSDT futures, and the recently released SUNUSDT are both settled in BTC with a BTC margin, not in the base currency USDT or the counter currencies KLAY and SUN, respectively. MCS is focusing on introducing more unique quanto futures products before other exchanges do. The representative of MCS quoted that “there are many cryptocurrencies traders show great interests, and often these cryptos fluctuate a lot. By listing more quanto futures products on MCS, we can give a variety of trading options true traders can enjoy and benefit from.” Meanwhile, a bounty program and a trading competition with a prize pool of 10,000 KLAY are currently undergoing, and more events for SUNUSDT futures are expected in the near future. For more info, contact support@mycoinstory.com. ### * MCS (MyCoinStory) MCS (MyCoinStory.com) is the next-generation cryptocurrency perpetual contract trading platform created by experts from the financial and blockchain industries. Together with a team of experts, MCS is walking side by side with traders’ to access financial freedom in the best way possible by creating a reliable trading environment for traders which includes enterprise-level IT systems, multilingual online customer support, and a partnership with the industry-leading digital asset custodial company, ‘BitGo’. MCS is constantly improving its trading platform for traders so that traders can dream of a better future. As the slogan #Be_a_Trader shows, MCS is focused on giving every trader in the platform the authentic ‘trading’ experience through various features and training materials. This is a 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. The post MCS, First Exchange to list TRON’s SUN and Klaytn’s KLAY Futures Contracts appeared first on Bitcoin News. View the full article

An anonymous Bitcoin Cash (BCH) supporter says he deliberately started a spoof which successfully got the local media to report on the coin. The method, which involved the use of 100 Bitcoin Cash tip stickers, cost a total of $1,100 and managed to get BCH featured by media outlets in Bakersfield, California. Explaining the success of the campaign, the anonymous BCH supporter, who also goes by the name Bitcoin Man, says he printed “around 100 Bitcoin Cash tip stickers, stuck them all over downtown Bakersfield, took photos where he placed them, then went home.” He adds that each tip had, a part from a reward, a “clue to where a “Golden $500 Bitcoin Cash sticker was.” Next, the anonymous BCH supporter says he photoshopped social media accounts with faked comments about people winning tips for spotting and scanning the stickers. After taking screenshots of the faked social media comments, the Bitcoin Man then shared these in a few Bakersfield Facebook groups where he asks “have you guys heard about this? Everyone on Facebook is talking about it!” According to him, this strategy “eventually created real curiosity from some locals” and “ultimately a Reddit thread was posted about this.” After this, interest grew and soon real people began to look for the stickers and were winning tips. Many of the real winners would contact the Bitcoin Man who in turn encouraged them to spread the word to media outlets. As the strategy was going according to plan Bitcoin Man explains, he had a different plan of handling the media: “The media doesn’t care about your technical philosophical rant, they just want a soundbite.” Therefore, to get the media buying into his ultimate objective, the Bitcoin Man decided he would tell them that “I’m doing this to help people” if asked about the reasons for his efforts. He says this is better than making a rant because as he understands it, the media is “not going to want to interview someone if the message is too complicated. The news is fast food information – so give them that.” After seeing his elaborate plan working to perfection, the Bitcoin Man is now encouraging others that are passionate about BCH to do the same saying “you don’t need to give away $1,000 to accomplish this. Even a simple $100 would work.” Use gifts.Bitcoin.com to create your own Bitcoin Cash stickers. What do you think of the Bitcoin Man’s idea of promoting BCH? Tell us what you think in the comments section below. The post How 100 Pre-Loaded BCH Stickers and a Spoof Turned Into a Media Hype About Bitcoin Cash appeared first on Bitcoin News. View the full article

While Ethereum network fees have jumped to new highs this year, the popular cryptocurrency exchange, Coinbase Pro, announced that the trading platform would be passing network fees onto customers. The move followed the exchange listing Uniswap’s native token UNI, an airdrop that saw miners collect close to $1 million in gas in less than an hour. The decentralized finance (defi) ecosystem has seen significant demand in 2020, but it has also contributed to the Ethereum (ETH) network’s rising fees. Ethereum miners are collecting a massive amount of revenue from gas payments, as miners are capturing between $700k to $850k per hour or 700 gwei per transaction. ETH fees have touched an all-time high in 2020 and defi lending applications, yield farming, and decentralized exchange swaps (dex) have bolstered high fees. The centralized exchange (cex), Coinbase Pro announced on Thursday that network fees will now be passed down directly to their customers. “Starting today, Coinbase Pro will pass along network fees directly to our customers,” the exchange tweeted. “These fees (sometimes referred to as “gas fees” on the ETH blockchain) are paid directly to crypto miners that process transactions and secure the respective network,” the San Francisco-based exchange further added. Meanwhile, on social media, a number of people got upset about the announcement, while others said that alternative blockchain networks were more beneficial. “Once again, this showcases the use case for low fee transaction blockchains like Bitcoin Cash (BCH),” the BCH proponent David Shares tweeted to Coinbase Pro in response to the fee announcement. A few other individuals expected the move and said that any profitable company would do the same. “A lot of people seem upset at this but it just makes sense to me,” one individual wrote. Transactions are actually getting expensive now and they’re running a business so that’s why they have to up their prices.” Coinbase Pro detailed that in the past, the San Francisco firm absorbed the network fees for the customer. “Historically, Coinbase Pro has absorbed these fees on behalf of our customers. However, as crypto has begun to gain broader adoption in applications like defi, payments, and other projects, networks have gotten busier,” the company’s followup tweet said. Additionally, Coinbase detailed that the company does not charge people for transferring funds between two different Coinbase accounts. “To ensure a smooth experience for our customers and reasonable transaction processing times, Coinbase Pro will charge a fee based on our estimate of the network transaction fees that we anticipate paying for each transaction,” the company concluded. What do you think about Coinbase Pro passing on network fees to customers? Let us know what you think about this subject in the comments section below. The post Ethereum’s Gas Spike Forces Coinbase Pro to Pass Network Fees to Customers appeared first on Bitcoin News. View the full article

Crypto activity continues to flourish worldwide, according to a new cryptocurrency adoption index published by the blockchain intelligence firm Chainalysis. The researchers compile onchain digital currency retail value transferred, onchain crypto deposits, peer-to-peer exchange volume, and other types of methodology. Chainalysis recently published a new report called the “2020 Geography of Crypto,” a study that examines 154 countries and the flourishing cryptocurrency adoption in these areas. The company created a crypto adoption index from the large list of nation-states and only 12 countries had very little traction compared to the rest. Nation-states that ranked the lowest in the adoption index include Afghanistan, Algeria, Cape Verde, Chad, Fiji, Laos, Libya, and Mongolia. The top ten countries are ranked by four individual metrics that are combined to create the official ranking. The top country, as far as onchain value received, onchain retail value received, number of onchain deposits, and peer-to-peer trade volume is the Ukraine. This country is followed by Russia, Venezuela, China, Kenya, U.S., South Africa, Nigeria, Colombia, and Vietnam respectively. “Cryptocurrency is truly global,” the Chainalysis report notes. “Developing countries have high grassroots cryptocurrency activity,” the study adds. Chainalysis continues by adding: Venezuela is an excellent example of what drives cryptocurrency adoption in developing countries and how citizens use [crypto] to mitigate economic instability— Venezuelans use cryptocurrency more when the country’s native fiat currency loses value to inflation. The study emphasizes that the wealth preservation tactic is leveraged in Africa and East Asia as well. Moreover, peer-to-peer cryptocurrency exchanges are essential to digital currency adoption in developing nations, Chainalysis highlights. In the section that covers Africa, the blockchain intelligence firm says both remittances and currency devaluation is what’s driving crypto adoption throughout the large continent. The study notes that major cryptocurrency trading platforms now look at Africa as an “opportunity.” Chainalysis details that in Africa regions like Kenya, Nigeria, and South Africa have been seeing more adoption than other areas throughout the continent. Central & Southern Asia and Oceania (CSAO) is also covered in the Chainalysis study and researchers say growth is “already strong.” The CSAO area is seeing a number of cryptocurrency regulations adopted within a variety of countries. CSAO is the fifth-most active region worldwide when it comes to cryptocurrency activity and it’s seen over $41 billion sent and $40 billion received during the last 12 months. East Asia is the world’s largest crypto market, in terms of crypto activity, capturing 31% of all the digital currency transactions in the last year. Crypto addresses stemming from East Asia accounted for $107 billion received. East Asia’s cumulated data is 77% larger than the crypto activity in Northern and Western Europe. East Asia is dominated by “pro traders” and “stablecoins,” the Chainalysis report highlights. Stablecoin usage in East Asia is “off the charts” in comparison to other regions worldwide. Eastern Europe has the fourth-largest crypto activity rating globally, and it also contains the top two countries represented in the Chainalysis’ crypto adoption index: Ukraine and Russia. “Eastern Europe shows a strong grassroots-level of cryptocurrency adoption,” Chainalysis notes. One reason Russia and Ukraine take the cake, as far as cryptocurrency activity is concerned, is because adoption has come “amidst regulatory uncertainty.” For instance, Chainalysis says that Ukraine has zero crypto regulations, but the government just started monitoring crypto activity. Latin America is smaller in terms of onchain activity, and cryptocurrency adoption is low in contrast to the aforementioned regions. Latin America saw $25 billion in crypto assets sent and $24 billion received in the one-year timeframe. In any 30-day span, Latin America represents 5% to 9% of the crypto activity aggregate on any given month, Chainalysis emphasizes. Even though Chainalysis says the region is one of the “hottest markets,” it also holds the second-lowest growth rate from the regions the researchers studied. The crypto forensics firm says the Middle East is a smaller digital currency ecosystem, and the region is the second-smallest worldwide. According to the “2020 Geography of Crypto” study, Turkey captures the most crypto activity in the Middle East. Out of the 154 countries Chainalysis studied, Turkey ranks 29th in the crypto adoption index. Chainalysis mentions that Turkey is a strong crypto adopter due to the Turkish lira falling in value. The fiat currency crisis was sparked by President Recep Tayyip Erdoğan’s authoritarianism and Turkey’s mountains of private foreign-currency-denominated debt. Toward the end of the report, Chainalysis touches on North America (the United States & Canada), which captures “conservative buy-and-hold” investors, and institutional investors as well. North America accounted for $52 billion sent and the same value received during the course of the 12-month span. “North America is the third most active region by cryptocurrency volume moved onchain, just behind Nothern & Western Europe (NWE) and well behind East Asia,” Chainalysis says. Addresses stemming from North America accounted for 14% of all the crypto activity studied during the company’s research. Chainalysis further notes: North America also hosts a growing class of institutional investors conducting even larger transfers of cryptocurrency. Additionally, Chainalysis highlights that a number of the global regions have formed crypto alliances. “North America and Nothern & Western Europe (NWE) form a quasi-common market, plus heavy trade with East Asia,” the “2020 Geography of Crypto” findings detail. NWE has a “strong professional market” but also a “surprising” amount of illicit activity. As far as crypto activity is concerned, NWE is the second-largest territory behind East Asia. The NWE region accounts for 17% of all the crypto transactions worldwide. NWE exhibits similar characteristics to North America in terms of institutional and professional traders. However, NWE’s crypto activity is also “largely driven by ransomware and darknet markets.” The 130-page study shows that crypto adoption and activity has grown exponentially in certain regions. A number of other countries and the regional bureaucrats are just becoming aware of cryptocurrency technology, and are falling behind the eight-ball in comparison. Today in 2020, East Asia is the crowned king of crypto activity worldwide with NWE following behind the region. The report concludes with an interactive crypto index table that shows all 154 countries’ Chainalysis studied during the year. What do you think about East Asia’s crypto dominance and the “2020 Geography of Crypto” study? Let us know what you think in the comments section below. The post East Asia Dominates World’s Onchain Crypto Activity, Europe and North America Trail Behind appeared first on Bitcoin News. View the full article

The latest trends at the cryptocurrency market are largely characterized by DeFi gaining more momentum and the upcoming launch of ETH 2.0 staking algorithm. As both DeFi and staking markets keep growing swiftly, their synergy also strengthens, leading to an increased superposition and consequently more composability. However, those processes come with a number of complications like increased gas price, the need to constantly monitor the markets closely as well as having to pick between DeFi lending and staking. In order to fix the staking’s existing issues we have developed an approach that merges staking and liquidity mining, thus enabling our users to have the best of both worlds and solve their major problems, making complex simple. What is FirstDerivative? FirstDerivative is an intellectual mechanism allowing the user to control the indicator of risk/profitability and to receive a more balanced APY at the decentralized finance market. FDV protocol automatically distributes your assets to the most profitable pool on each platform. In addition, the protocol also takes into consideration the potential profitability boost and profit accounting in DAI, thus simplifying the yield mining process. A simple and intuitive interface automates yield mining in a few clicks so that complex things become easy. FirstDerivative is a liquidity aggregator for DeFi projects. Initially liquidity will be provided to the platforms like Curve and Swerve, and as DeFi grows further, new platforms will be added gradually. The users will be able to mine liquidity on the most profitable pools on these platforms, and in the meantime get extra value to their token from liquidity mining. FirstDerivative is equipped with an automated balancer that re-distributes the user’s assets to the most profitable pool on the Curve platform whenever some other pool’s APY becomes higher than the current pool’s. How does FirstDerivative work? All protocol users receive a native FDV token that will be distributed daily 100 FDV at a time between all liquidity suppliers in protocols and pools proportionally to their deposit of the total liquidity pool provided. During the first week remuneration would be x10, amounting to 1000 FDV per day. In the course of the following two weeks remuneration would reach x5 which equals 500 FDV per day. Maximum token emission is 60000 FDV, and no preliminary issue of tokens is provided for. More specifically, since the entire mechanism is regulated by smart contracts, the developers would have no way of issuing new tokens. In addition, the platform also enables the user to provide liquidity to the FDV token pools with additional first week x10 bonus. Initially the following pairings are going to be represented on the platform initially: ETH/FDV CRV/FDV DAI/FDV DAI/ETH USDC/ETH FirstDerivative is an easy to use tool with a clear interface allowing to benefit from both staking and liquidity mining. It’s the best time to join since during the first week all the APY you gain in FDV will be multiplied x10 for both staking on curve or swerve platforms and for providing liquidity so each yield is multiplied separately x10 each. Join the race on September 18th at noon New York time by clicking here. Stay in touch, follow us on Twitter and connect through Telegram chat. This is a 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. The post Firstderivative Yield Farming Project Is Now Live With x10 Bonus appeared first on Bitcoin News. View the full article

The Bank of England is now seriously considering implementing negative interest rates while the U.S. Federal Reserve has pledged to keep interest rates near zero for years. Some analysts say even the Fed will soon consider negative interest rates. Meanwhile, many expect a boost to the price of bitcoin. Central Banks Mull Over Negative Interest Rates The U.S. Federal Reserve and the Bank of England made major announcements this week. Following its two-day policy meeting which concluded Wednesday, the Fed pledged to keep its key interest rate near zero until the economy reaches full employment and inflation runs “moderately” above its 2% goal for “some time.” Projections from individual members of the Federal Open Market Committee also indicated that rates could stay anchored near zero through 2023. “This was the first time the committee forecast its outlook for 2023,” CNBC conveyed. In the U.K., the Bank of England voted unanimously on Thursday to leave the country’s main interest rate unchanged at 0.1%. Warning that the outlook for the economy remains “unusually uncertain,” the British central bank revealed its plans to explore how a negative interest rate could be effectively implemented. Commenting on the two central banks’ announcements, Devere Group CEO Nigel Green warned that personal financial strategies should be “negative interest rate ready.” He explained that “the shifts have been seismic this year,” something that “would have been unimaginable even a few months ago.” As central banks struggle to “ease the economic pain” of the covid-19 pandemic, they have “ushered us into an era of almost zero interest rates,” he opined, elaborating: Some experts [are] saying that the U.S. Federal Reserve and the UK’s Bank of England, amongst others, could be on the brink of implementing negative interest rates. Among those who believe that the Fed will soon implement negative interest rates is macro strategist and former hedge fund manager Raoul Pal. He tweeted Thursday: “Well, another one bites the dust and folds. BOE is exploring negative rates. ECB [European Central Bank], BOJ [Bank of Japan], BOE [Bank of England], RNZ [Reserve Bank of New Zealand], SNB [Swiss National Bank] … eventually it will be the Fed too.” The former Goldman Sachs manager has also said that bitcoin beats gold in every measure, as news.Bitcoin.com previously reported. Some people disagreed with Pal, insisting that the Federal Reserve will never implement negative interest rates. One Twitter user replied to the former hedge fund manager’s comment: “The Fed will never go negative – ever – they know if they do the rest of the CB’s will have to go more – the whole financial system will collapse.” Many people on social media see the Bank of England’s negative interest rate news as a great advertisement for bitcoin, expecting a significant boost to the price of the cryptocurrency. Moreover, the Federal Reserve announced a major policy shift at the end of last month to push up inflation, which some people in the crypto niche believe could significantly boost the price of bitcoin past $500K. Last week, Green emphasized that the bitcoin “break out” case was “stronger than ever,” reiterating his prediction made at the end of August. Citing “record-shattering stimulus initiatives,” he explained that “Governments and central banks around the world are continuing to prop-up their economies. Just last week France announced a new $100bn package.” The CEO asserted: The off-the-scale level of money printing drastically devalues traditional currencies, which serves to boost the price of bitcoin as investors look for viable alternatives. “The stimulus agendas are unsustainable in the longer-term and there’s a potential inflation issue looming. Investors know this and are revising their portfolios accordingly,” he continued. Morgan Stanley’s global strategist recently recommended bitcoin as central banks ramp up money printing. The uncertainty surrounding the November U.S. presidential election will also help boost the price of gold and bitcoin, several strategists have said. “Investors will pile into safe-haven assets, which are not tied to any specific country, such as bitcoin and gold,” Green noted, adding that “The fundamentals that make bitcoin an attractive investment are, in fact, gaining strength.” A Weiss Crypto Ratings analyst shares the sentiment, stating that long-term fundamentals signal a robust cryptocurrency bull market. Do you think the two central banks will soon implement negative interest rates? Let us know in the comments section below. The post UK Mulls Over Negative Interest Rates, US to Keep Near Zero Rates for Years appeared first on Bitcoin News. View the full article

Singapore, 18th September, 2020 – Smart advertising marketplace SaTT is proud to announce the listing of its namesake token SATT on leading digital assets trading platforms – KuCoin, a centralized exchange (CEX) and Uniswap, a decentralized exchange (DEX). Currently in the midst of its ICO, the SaTT project is making headlines across major news media for its remarkable feat in fundraising. Within 48 hours, the SaTT ICO closed over USD 1 million, hitting their soft cap of USD 3,360,000 in under a week. Acknowledging the massive support from their community, SaTT CEO Gauthier Bros expressed his appreciation: “To all who believe in SaTT and continue to express your amazing support for the SaTT token sale, as a show of our tremendous appreciation, we are going ahead of schedule with our token listing on the 24th of September. KuCoin is a world-class digital asset trading platform and we are proud to be listed on such a reputable exchange. For the DEX supporters, we have selected UniSwap, the leading decentralized permissionless exchange.” KuCoin Global CEO Johnny Lyu said, “KuCoin has always been the home of crypto hidden gems, and we are happy to support more promising blockchain projects with our various financial services like trading, staking and more. Digital advertising is a billion-dollar market and we have seen SaTT’s potential to develop a new advertising solution with lower costs and more transparency.” The SaTT Story – Quality Over Hype Birthed by the core team of Atayen, Inc., the iFrames app developer for business pages on Facebook, the SaTT project team have no shortage of advertising experience with a customer base that included international brands the likes of Coca Cola, McDonalds and Disney, amongst others. Keenly aware of the ills and challenges facing the advertising industry, the SaTT project was aptly armed with a viable use case from its years in advertising. Amid the hype of countless ICOs of projects without a product or even a use case in 2018, SaTT went against the grain and kept the focus on delivering a working product. The past two years has seen the SaTT team laboring over its blockchain advertising platform and conducting innumerable tests on blockchain oracles to obtain off-chain data from third party API of social media platforms such as Youtube, Facebook, Twitter, Instagram etc. Consistent hard work has paid off and the SaTT platform has been fully launched since Q3 this year, now ready and eager to take on the advertising mantle for the brands of the world. Having grown a strong following throughout its developing stages, last week, the SaTT project saw its ICO reach a level of fervour unheard of in today’s ICO narrative, as loyal supporters rallied behind the project’s token sale. SaTT’s ICO success serves as a testament to good old-fashioned persistence and hard work. As Henry Ford put it, “Quality means doing it right when no one is looking.” Keeping Community at the Forefront At the time of this writing, the SaTT ICO has raised over USD 4 million with the total number of SaTT token holders sitting at over 13,400 addresses. Starting September 24, SaTT token holders will be able to start making deposits in preparation for trading. Available trading pairs will be announced when deposits open on the exchanges. Stay tuned to SaTT social media channels for exact timing and other detailed announcements. In the meantime, SaTT remains committed to making listing partnerships with credible exchanges vetted to be safe for users, keeping the community always at the forefront of any listing decisions. SaTT token holders will welcome the news that besides KuCoin and UniSwap, SaTT has managed to secure an additional 5 exchanges, to be announced at a later date. Stay tuned! About SaTT SaTT, which stands for Smart Advertising Transaction Token, is a utility token that enables advertisers to buy smart advertising services on its ethereum-based dApp. All transactions between advertisers and influencers/publishers are governed by the SaTT smart contract which ensures speed, transparency and security, and is cost-efficient. The SaTT dApp helps to quantify ROI by using Oracles to retrieve data from 3rd-party API of social media platforms like Youtube, Facebook, Twitter, Instagram etc. Actions performed, such as LIKES, SHARES, VIEWS, TWEETS etc. can then be evaluated and if all criteria is successfully met, payments are triggered automatically from the advertiser’s preloaded budget to the wallet of the influencer/publisher. Fast, tamper-proof, secure and cost-efficient, the SaTT smart advertising system is a perfect use case of the ethereum smart contract. https://satt-token.com About KuCoin KuCoin is a world-class blockchain asset exchange, also known as “The People’s Exchange”. Offering 200+ cryptocurrencies, KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. https://www.kucoin.com About Uniswap Uniswap is a protocol on Ethereum for swapping ERC20 tokens. Uniswap is designed for the community to trade tokens without platform fees or middlemen. Uniswap provides liquidity using a simple math equation and a pool of tokens without the need to match buyers and sellers. https://uniswap.org SaTT Officials: Twitter: https://twitter.com/SaTT_Token Facebook Page: https://www.facebook.com/SaTT.Token LinkedIn: https://www.linkedin.com/showcase/satt-token Telegram: https://t.me/satttoken Bitcoin Talk: https://bitcointalk.org/index.php?topic=3407522 Medium: https://medium.com/@satt.atayen Github: https://github.com/Atayen/satt-js Media Contact Cecilia Wong, yourPRstrategist.com cecilia@yourPRstrategist.com +65-91826605 This is a 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. The post SaTT Smart Advertising Token Announces Listing on Leading Crypto Exchanges, KuCoin and Uniswap appeared first on Bitcoin News. View the full article

The Argentine peso plunged by more than 10% shortly after the country’s central bank announced measures to tighten controls on the movement of foreign currency. The peso, which is officially pegged at 72 for every USD, touched new lows of 145 to the greenback on the black market. The latest plunge is seen as a further boost to bitcoin and other cryptocurrencies in a country that has been plagued by currency challenges for over a century. Still, in a statement released on its Spanish language website, the Board of the Central Bank of the Argentine Republic (BCRA) justifies the new measures saying they are an attempt “to promote a more efficient allocation of foreign currency.” Loosely translated, the statement goes on to say: Federal Administration of Public Revenues (AFIP) has established a “mechanism for the collection of taxes on income and on personal assets at a rate 35% for external asset formation operations (FAE) by individuals as well as on purchases with cards (debit and credit) in foreign currency. The objectives of the new measures are to “maintain the current quota of $200 per month whilst discouraging the hoarding foreign currency and card expenses.” Crisis laden Argentina is in its third year of an economic recession partly blamed on the country’s unsustainable external debt levels. BCRA admits that the servicing of these obligations is having an undesired effect on the country’s exchange rate. Consequently, the new measures also seek to “establish guidelines for a renegotiation of the private external debt compatible with the normal operation of the exchange market.” However, as previously reported by news.Bitcoin.com, Argentina alongside Venezuela, are two Latin American countries that are seeing their fiat currencies lose value due to excessive printing of money which causes inflation. Quoting a Chainalysis study, the same report notes that Argentina’s imposition of limits on the amount of U.S. dollars that citizens can buy per month further restricts available options of shielding savings from inflation. According to analysts from the region like Sebastian Villanueva of Chilean crypto exchange, Satoshitango, it is such limits that are helping to spur on the use of cryptocurrencies in the country. The Chainalysis study already ranks Argentina as the country with the third-highest value of cryptocurrency received between July 2019 and June 2020, just under $3 billion. Meanwhile, some Argentine citizens reacting to the announcement by BCRA concur with the notion that the latest policy changes will push more towards cryptocurrencies. One citizen who shares this perspective is journalist, Emiliano G. Arnáez. The journalist has previously tweeted how successive Argentinian governments have failed the economy and how bitcoin can be an alternative that his countrymen can use. In his remarks, Arnáez touts how the main attributes of bitcoin make the digital currency a better alternative to the country’s fiat currency: “Remember: if you have Bitcoin, they have their own Central Bank. With cryptocurrencies, there are no stocks, with stablecoins, there are no exchange restrictions. They (cryptocurrencies) have a high risk, of course, they do, but the Argentine economy sometimes seems to be riskier and is (repeatedly) hacked by the governments themselves.” Another Twitter user, Ramiro Marra confirms the immediate impact BCRA’s announcement after tweeting that the “crypto dollar is already at 160. It is going to be a very difficult day.” The comments by Argentine citizens reaffirm Villanueva’s earlier assertions that “people just want a safe way to store money, and there are no gatekeepers in crypto.” What do you think about Argentina’s latest currency woes? Tell us your thoughts in the comments section below. The post Argentina’s Peso Plunges After Central Bank Tightens Foreign Exchange Controls: Citizens Discuss Bitcoin Adoption appeared first on Bitcoin News. View the full article

Presently, the crypto market is witnessing an incredible growth and massive adoption worldwide. Digital transformation and tokenization give freedom to deployment of cryptocurrencies in everyday life. However, one thing worth careful considering is how to choose a trustworthy online crypto exchange without fearing to lose money because of fraud or poor service provision? The following article describes major cornerstones while opting for buying or selling coins with reference to licensed crypto exchange Switchere.com. High Demand for Reliable and Solid Online Crypto Exchange Services If the core goal is to buy crypto with credit card or convert USD to BTC to diversify the current financial portfolio, then the best option is to go for online crypto exchange services (approx. 5min. to buy cryptocurrency). The same concerns if the person is willing to sell BTC at a competitive rate and with perfect timing — choose a licensed and reputable crypto exchange that offers both of these options (buy and sell) because by doing so, the financial risks are minimized. Alternatively, if one is set to market speculations on crypto price swings, then cryptocurrency trading platforms are the best variants. Buy Cryptocurrency at Licensed and Regulated Crypto Exchange For any crypto exchange, obtaining a license of a virtual currency exchange provider is a must. If you knew success was a certainty, what would you attempt to do? Correct — choose a licensed and reputable crypto exchange because it is perfect both for professionals and newbies alike. The main idea behind Switchere is to make the process of buying, selling and swapping cryptocurrencies for all platform users as easy as an online shopping tour. Buy Bitcoin and Altcoins at AML/KYC Compliant Crypto Exchange All AML/KYC complaint crypto exchanges uphold the lowest fraud rates. All licensed exchange service providers are perfectly compliant with all regulatory requirements (GDPR, CFT, AML/KYC, etc). Nowadays, it is a golden rule for crypto adepts to buy Bitcoin and altcoins at fully licensed and AML compliant crypto exchanges. Use Easy USD to Bitcoin Converter with No Hidden Fees Today, people can buy BTC with any credit, debit or prepaidcard (VISA, Mastercard, Maestro, American Express, etc.) — it is the fastest and most convenient way to purchase crypto. Nonetheless, it is really important to pay close attention to service pricing and make sure there are no hidden commissions charged on the checkout form. Seek for transparent and straightforward service providers and make sure that all bank card payments are 3DS (PCI SSC standard). As an alternative to USD to Bitcoin converter, there is a good opportunity to swap one cryptocurrency into another. As such, always look for multicurrency capabilities (BTC, ETH, USDT, LTC, XRP, DASH, etc.) and versatile payment methods (region-specific online banking, e-wallets, SWIFT, SEPA, wire transfer, etc.) that suit you the most. Life is full of choices, so choose wisely. Easy Workflow, Seamless Order Processing and Speedy Delivery When it comes to choosing a perfect spot for exchanging crypto, the key factors that come into play are ease-of-use and on-timedelivery. The onboarding process should not take long and the verification procedure has to be automated to the fullest extent— 15 min. on average. These are the determining factors for establishing excellent customer loyalty and seamless user experience. In addition, fast order processing (approx. 2-30 minutes) adds credibility and trust to the service provider. Global Coverage, Accessibility and Interoperability For a licensed crypto exchange service provider, the operational areas should cover Europe, Asia, Africa, Australia, North America and South America. The list of restricted locations can be limited only to the high-risk countries defined by the FATF. Going global means being more local. The process of buying, selling or swapping crypto has to be a pleasant online shopping tour that goes hand in hand with fast transaction processing, simple and intuitive user interface and proven reliability. Top Security Standards and Data Encryption The biggest concern for any person using the services of an online cryptocurrency exchange is the likelihood of fraud or hacks due to poor security standards. It is of great importance to look for the following features enabled on any solid and reliable crypto exchange: 1) Two-factor authentication (2FA), such as Google Authenticator, Authy, Yubikey or SMS; 2) Email and SMS informing; 3) SSL/TLS advanced encryption standards; 4) Automatic inactivity logouts. 5) Complex captchas. 6) Whitelisting of wallet addresses. Ongoing Loyalty Program, Regular Discounts and Special Offers In layman’s terms, customer loyalty is a customer’s willingness to interact with or buy from a specific company on a regular basis. Consumers who are already enthusiastic about a particular brand or trademark are more likely to continue using the crypto exchange services. Reward programs may include affiliate/referral/partner programs (passive income for participant may reach up to 70%), special offers, discounts, use of promotional codes for reduced service commission, free welcome and deposit bonuses, among others. Demonstratively, Switchere offers its customers its unique cashback program (up to 1%) for each successful order payment. Besides, the crypto exchange runs 2-level Affiliate program, where platform users can earn affiliate rewards (55% and 5%) for primary and secondary referrals, respectively. On top of that, every newly registered user can make the first order payment with no service fee whatsoever. As a result, great loyalty programs helpestablishing brand loyalty and customer recognition. Do Your Own Research (DYOR) Doing your own research (DYOR) is one of the most important aspects of engagement in the crypto market — and not only regarding online crypto exchanges. Search for genuine customer reviews, rating and user feedback, monitor media appearance for a particular crypto exchange. A scrupulous research may prove exceptionally valuable for anyone interested in crypto, DeFi, dApps, bitcoin mining and alike. Conclusion In summary, keep in mind all the above mentioned points and always weigh all pros and cons when the deal concerns your finances. Seamless user experience, auto verification, fast order processing, license and accreditation, reputation, top security standards, loyalty programs are one of the most important things to consider while choosing a reliable crypto exchange. Dream big, act quickly and create your own path to success in the fast-evolving digital world. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. The post Switchere: Buy Crypto with CC, Pay with Local Banks, Swap and Sell Coins Online appeared first on Bitcoin News. View the full article

South Korean police have seized shares in Bithumb, the country’s biggest crypto exchange. The shares belong to Bithumb Korea director and major shareholder Kim Byung-Geon. According to a local media report, the police raid – the third on the exchange this month – follows a September 14 ruling from the Seoul Central District Court. The seizure was executed on September 16 at Bithumb’s Gangnam office by accounting firm Samjong KPMG, which will also shortlist additional shareholdings to be sold in Bithumb Holdings. The accountants are overseeing the sale of the exchange. It is not clear how much of Kim Byung-Geon’s stake was confiscated. However, the director has been trying to acquire Bithumb without success. He has reportedly been sued in the process, while also filing an application for the confiscation of Lee Jung-Hoon’s stake, Bithumb chairman and majority shareholder. Bithumb is currently under investigation for financial fraud involving $25 million. The exchange was raided twice this September in connection with the fraud case, which relates to the private sale of Bithumb’s native token, Blockchain Exchange Alliance (BXA), in 2018. The tokens were never listed on the Bithumb platform as promised by the company, resulting in investors reportedly suffering losses to the tune of $25 million. What do you think about the successive police raids at Bithumb? Let us know in the comments section below. The post South Korean Police Seize Shares From Major Bithumb Shareholder appeared first on Bitcoin News. View the full article

California-based Nvidia is buying British computer chip designer Arm Holdings from Softbank Group Corp. in a deal worth $40 billion. Chip giant Nvidia, which specializes in making hardware for video game consoles, GPUs for graphics cards, processors for the AI industry, and whose chips are utilized by the crypto mining sector among others, said in a press release that it would pay Softbank a combination of cash and shares in the transaction. The Japanese conglomerate bought Arm for $32 billion in 2016. The latest deal is expected to create “the premier computing company for the age of artificial intelligence” (AI), according to Jensen Huang, chief executive officer of Nvidia. He added that Arm would remain headquartered in Cambridge, England and retain its brand. “We will expand on this great site and build a world-class AI research facility, supporting developments in healthcare, life sciences, robotics, self-driving cars and other fields,” said Huang. The graphics processing units (GPUs) produced by Nvidia are mainly used in video game consoles and graphics cards but they have also been deployed to mine digital assets such as ethereum (ETH), monero (XMR) and zcash (ZEC). GPUs are now useless for mining bitcoin (BTC), which has moved on to more efficient application-specific integrated circuit (ASIC) miners. Arm’s technology is the backbone of most of the existing smartphone technology. The company creates designs that other companies such as Apple, Samsung Electronics and Huawei develop into customised chips. Its technology is also starting to gain ground in cloud data centers. To date, Arm says 180 billion chips have been made based on its designs. Simon Segars, CEO of Arm, detailed: “By bringing together the technical strengths of our two companies we can accelerate our progress and create new solutions that will enable a global ecosystem of innovators.” Under the terms of the transaction — approved by the boards of Nvidia, Softbank and Arm — Nvidia will pay Softbank $21.5 billion in stock and $12 billion in cash. At least $2 billion is payable at signing. Softbank may also receive up to $5 billion in cash or stock if certain targets are met. Nvidia will issue $1.5 billion in equity to Arm employees. The deal gives Nvidia a way into mobile chips, but it is likely to face close scrutiny from regulators who might be concerned about issues around monopoly and conflict of interest. In the UK, several business executives have alreadh signed an open letter calling on Prime Minister Boris Johnson to stop the takeover. Shares of Nvidia fell about 4% to $500.58 in Nasdaq stock market trading Wednesday before slipping further to $498.92 on Thursday. Over the past 52 weeks, the stock has swung between a high of $589.07 and a low of $169.32. Nvidia boasts a market capitalization of over $340 billion. Nvidia was established in 1993 and initially started off selling computer cards designed to improve the video game experience. It later expanded into other markets, including at least one foray into the cryptocurrency mining hardware business. What do you think about the acquisition of Arm by Nvidia? Let us know in the comments section below. The post GPU Manufacturer Nvidia Buys Chip Maker ARM for $40 Billion appeared first on Bitcoin News. View the full article

For the first time in history, a human’s intrinsic ‘time value’ is being used as a currency for trading, as IPM is the energy and very essence of all value creation. Participants will benefit from up to 60% discount until 28th September 2020 18th September, 2020, Nicosia, CY / Weimar, DE – Many of today’s jobs will no longer exist in the near future, and people will not be able to keep up with new requirements in this rapidly changing economy. A disruption is taking place altering life plans all over the world through the mass adoption of new technologies, e.g. automation, machine learning, artificial intelligence, bio-tech and blockchain. “Concepts like a basic income and new forms of digital money are on the agenda everywhere, making room for new ecosystems helping to make up for the lack of old, conventional labor.” A segregation of low-skill/low-pay and high-skill/high-pay is already happening and social cracks appear in society. However, it is also a brave new world for those who are able to foresee what is coming. Industries will eventually use all these new technologies to raise global income levels and improve the quality of life for populations around the world. Now imagine there is a place and an ecosystem that uses your ‘time’ and brings it into the emerging world of the blockchain, hence driving the economic growth of its users. Time is common to all people and TIMERS IPM [short for Income/Per/Minute] is its tokenized, digital variant. “We at TIMERS believe that every person has an intrinsic value and a set of skills that will be needed in this day and age. We also think that an enormous amount of freed-up ‘quality time’ in combination with the right technology will open up new markets and streams of income.” The Team behind TIMERS is going to create a forum, this magical place, where all goods and services can be offered or used according to your needs and your very own skills. A central place to meet and communicate allowing for not only on- but also offline trade through geo-based- and near field communication. The Forum will be application driven and accompanied by a simple and easy to use interface, inspired by flow-like design. All of this is powered by the idea that only blockchain truly offers the most efficient transactions and secure protection through intelligent contracts directly from home, within your local community and around the world. Lastly, a so-called ‘Proof Of Value’ Creation in a timed verification process [TVM] ensures an incentive operating system similar to staking in blockchain but designed as a basic income for optimal sustainability. — We would like to invite you on a journey that is rooted in a belief that the answer of tackling the issues of tomorrow might literally be found within us. TIMERS provides a potentially amazing return to all stakeholders through its IPM token pre-sale, which is currently ongoing (leftover tokens will be burned). — Name of Press Contact: Ralf Wipper Email: TIMERSnetwork@protonmail.com Pre Sale: https://tokensale.timers.network Web: https://timers.network/ Twitter: https://twitter.com/TIMERSnetwork Medium: https://medium.com/timers LinkedIn: ralf-wipper-b7a7001a0 This is a 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. The post Timers’ Ongoing IPM Presale Will Help Tackle Challenges of the Next Industrial Revolution appeared first on Bitcoin News. View the full article

On September 16, the Bitcoin Unlimited development team launched a new application called Votepeer. The software is powered by the Bitcoin Cash network and allows anyone to set up a transparent two-option voting process. This week a couple of Bitcoin Unlimited (BU) developers released a new voting protocol called Votepeer. BU software engineers, Dagur and Jørgen Svennevik Notland, revealed the initial version of Votepeer, which can be located at the website voter.cash. “Votepeer is powered by Bitcoin Cash and allows anyone to easily set up a two-option vote using the simple and transparent voting protocol,” the project announcement details. “Participating, verifying, and tallying can be done through the SPV (Simple Payment Verification) technology in use in most bitcoin cash wallets and therefore does not require a full node.” The announcement published on the bitcoin cash (BCH) powered blogging platform read.cash, explains that the new release concludes the initial phase of BUIP129. During the second phase, BU developers will study more in order to “make anonymous voting possible.” “The third phase of the project is to build the technology into an easy-to-use app and release it publicly for general use,” the announcement notes. “Hopefully, we can make online elections safer,” Jørgen Svennevik Notland said. “We are currently in research and development mode, open-sourcing our tools and apps as they mature, and a paper. Our current research item is to figure out how to make the election process in the two-option Voterpeer smart-contract anonymous.” The developer also detailed that individuals who are interested in contributing to Votepeer can reach out via Keybase.io. The engineers also said that the team released voter.cash now so the project can locate partners who will benefit from this type of voting technology. “We look forward to all the interesting ways the cryptocurrency community can use this technology to supercharge their governance processes,” the BU devs concluded. On social media and crypto oriented forums, BCH proponents seemed to like the Voterpeer project and the blockchain voting concept. The release comes 47 days prior to the U.S. Presidential election between Donald Trump and Joe Biden on November 3. Already, thanks to the vast number of mail-in ballots this year due to Covid-19, many Americans think the vote will be an utter calamity. A few members of the BCH community discussed governments leveraging a platform that utilizes blockchain technology. Meanwhile, a few other crypto supporters recommended ideas to the BU team that could allow the protocol to execute building out a multi-choice voting process. What do you think about the Votepeer project released by BU software developers? Let us know what you think about this subject in the comments below. The post Bitcoin Unlimited Launches Two-Option Voting App Powered by Bitcoin Cash appeared first on Bitcoin News. View the full article

,The total-value locked (TVL) in decentralized finance (defi) economy has recaptured much of the value lost during the Sushiswap fiasco last week. At the time, the defi TVL tumbled down to $6.8 billion from the $9.6 billion high on September 8, suffering a loss of close to -29%. Since then, however, the rise northbound has been parabolic, as the defi TVL has climbed 28% so far, with locked value rising to $8.75 billion on Thursday morning (ET). Last week, the anonymous creator of Sushiswap caused an uproar within the decentralized finance (defi) community after cashing out some tokens meant for the project’s future development. At that time, the total-value-locked (TVL) in defi was inching toward the $10 billion realm, when it crossed $9.6 billion on September 8. Although, the TVL shed a decent amount of value after the Sushiswap incident and the price of ethereum (ETH) tumbled by 30%. Defipulse.com stats show the total-value locked (TVL) hovering around $8.75 billion on Thursday, September 17, 2020. Today, according to defipulse statistics the current TVL on Thursday, September 17 is $8.75 billion with the defi lending platform Aave capturing 15.3% of the TVL dominance. This is followed by the defi platforms Maker, Curve Finance, Uniswap, and Sushiswap. On Thursday morning (ET), the crypto community has been discussing Uniswap’s UNI token, which saw 60% of UNI’s genesis supply allocated to Uniswap community members. Since the launch, Coinbase Pro announced UNI support on the exchange and the crypto platform Binance also listed the token a few hours after the release. The top six projects in the decentralized finance (defi) space include Aave, Maker, Curve.fi, Uniswap, Sushiswap, and Balancer. The Uniswap team says 21.51% will be reserved for future employees and developers with a four-year vesting period. 17.80% of the UNI supply will be distributed to investors with a four-year vesting timeframe as well. The UNI launch announcement notes that the token will be leveraged for a governance treasury and governance will have access to the allocation on October 18. Uniswap’s governance token airdrop contributed to ethereum (ETH) miners capturing a lot of money in transaction fees. “Following Uniswap Protocol’s announcement of the UNI token today, Ethereum saw a massive surge in miner fees,” the data analytics firm Glassnode tweeted. “Almost $1M USD in fees were spent in a single hour. This is a new record high (anomalous tx fees earlier this year excluded).” Last Saturday, the Yearn Finance (YFI) token touched an all-time high reaching $43,678 after Coinbase Pro announced listing the defi crypto asset. Defi users since news.Bitcoin.com’s defi report at the end of August shows the number of unique addresses over time grew by 17.78% from 388,011 users to 457,012 users on September 13. The token has been very popular among the yield farming community and notoriety for YFI’s price per token surpassing bitcoin (BTC) in value. Although YFI has lost -27.34% since the Coinbase listing announcement and the token is currently swapping for $31,736 per coin. Decentralized exchange (dex) platforms saw $5.2 billion in global swaps during the last seven days. Since news.Bitcoin.com’s recent study on the defi economy on August 29, the total defi users over time jumped 17.78% from 388,011 users to 457,012 users on September 13. Defi-based decentralized exchange (dex) action has seen $5.2 billion in global swaps during the last seven days. Dune Analytics data shows dex volumes during the last 24 hours was around $645 million. Uniswap is still the top dex in terms of volume exchanged capturing over 60% of the week’s trade volume. With this week’s defi TVL rebound closing in on the highs it saw last week, it goes to show that the defi economy isnt letting up any time soon. Meanwhile, ethereum (ETH) has regained much of the coin’s losses at the crypto asset trades for $383 per ether at the time of publication. Since last week’s report concerning 68 new whales joining the ETH network, the large concentration of ETH holders added another 1% to the aggregate tally. What do you think about the defi ecosystem regaining momentum this week? Let us know what you think about this subject in the comments section below. The post Defi Economy Rebounds: Total-Value Locked Jumps 28% Capturing Close to $9B appeared first on Bitcoin News. View the full article

The Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy. In a statement released via Twitter on September 14, the country’s Prime Minister, Abiy Ahmed Ali announced the unveiling of the “new Birr notes for 10, 50 & 100 denominations, with the introduction of a new Birr 200 note.” Meanwhile, a report says the government plans to spend about $97 million (3.6 billion Ethiopian Birr) printing the new notes. On the other hand, Ethiopian citizens are expected to replace their old notes within three months. The Ethiopian government’s decision to demonetize follows persistent calls for such a move by Ethiopia’s Bankers Association. The bankers contend that the $3.05 billion circulating outside the banking system has “exacerbated the liquidity problems commercial banks have faced this year.” The report also quotes Wasihun Belay, a development economist based in Addis Ababa who acknowledges that while “changing currency is costly and expensive” he still argues that “it is very important to the economy.” The development economist adds that “introducing new denominations is a step in the right direction” and says “500 and 1000 notes” must be introduced as well. The Ethiopian economy, which been hit by the global pandemic Covid-19, faces increased inflationary pressures after the figure topped 20% in August. This follows increased printing of currency to finance the country’s budget deficit. Both the World Bank and IMF have now downgraded the country’s forecasted annual growth to 3.2% from 7.2%. Still, Yinager Dessie, governor of the National Bank, is optimistic that the “introduction of the new notes is going to be instrumental in reduce cash-based transactions.” In August, the National Bank introduced cash withdrawal and limits on withdrawals as it moved to influence activity in the informal economy which “has a substantial share in the economy.” Ethiopia last demonetized its currency at the end of the Ethiopian-Eritrean deadly civil war two decades ago. What do you think about this move by the Ethiopian government? Share your thoughts in the comments section below. The post Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding appeared first on Bitcoin News. View the full article

Rock band Kiss’ lead singer Gene Simmons has tweeted a cryptic message about bitcoin in response to a discussion on making cryptocurrency accessible to the masses. Simmons previously said he was interested in bitcoin, noting that its price goes up every time people think it’s dead. Gene Simmons’ Bitcoin Tweet Gene Simmons is an Israeli-born American musician, singer, songwriter, actor, and producer. He was the frontman, bassist and co-lead singer of Kiss, the rock band he co-founded with lead singer and guitarist Paul Stanley. According to IMDB, Simmons has appeared in films and TV 116 times. He caught the attention of the crypto community on Tuesday when he tweeted a cryptic message in response to a thread about making bitcoin and ether accessible to the masses. Gemini cryptocurrency exchange founder Cameron Winklevoss started the thread by tweeting: “Technology won’t end racism. But it can remove bias from some interactions.” He added: “This is why I love Bitcoin and crypto. It’s permissionless. It’s unbiased. Math doesn’t care about the color of your skin, gender, orientation, etc.” After multiple tweets on the subject, the exchange founder admitted that “getting people into this new system is the biggest challenge we face as an industry … It’s easier to buy bitcoin and ether if you are already in the old system. If you don’t have a bank account, it’s hard to get funds into crypto. We need to change this.” Simmons, who has 896.4K followers on Twitter, responded with a short tweet that reads: “I will. I am.” At the time of writing, his tweet has been liked 1.4K times. While many people saw Simmons’ tweet as bullish, expecting mass adoption to follow, several asked him for an explanation of what he plans to do. Some tweeted asking when the Kiss coin would come out, while others speculate that he has a plan to boost bitcoin adoption. However, Simmons did not clarify further on the subject. Other comments flooded the thread with suggestions of how the mass adoption of bitcoin can be achieved, such as installing more bitcoin ATMs. Some mentioned existing services that try to make it easier for everyone to get into bitcoin, such as Cash App. Tuesday was not the first time the famous rock singer talked about bitcoin. In September 2017, he told The Street in an interview that he was interested in bitcoin. While emphasizing that he preferred to be diversified with his investments, the former Kiss lead singer told the publication: I am interested in bitcoin, but only as a piece of the (investment) puzzle. When asked whether he would follow in the footsteps of other celebrities — such as Paris Hilton and Floyd Mayweather — and attach his name to bitcoin, he “left the door open,” the news outlet conveyed. He also responded to a question about the possibility of launching his own coin, which was the hype at the time of the interview. “Kiss coins? Sure, you can talk me into it,” Simmons said. In April last year, he bumped into Morgan Creek Digital partner Anthony Pompliano at a crypto event. Pompliano, who tweeted their encounter, said that “This guy gets it,” quoting Simmons as saying: Bitcoin is volatile, but every time people think it’s dead, it goes up a little. Do you think Gene Simmons has plans to supercharge bitcoin adoption? Let us know in the comments section below. The post Kiss’ Gene Simmons Tweets Cryptic Message About His Bitcoin Plans appeared first on Bitcoin News. View the full article

New York, September 17, 2020 — Binance, the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, announced today the agreement to support BUSD stablecoin on Flow, the blockchain developed by Dapper Labs, the company behind CryptoKitties and NBA Top Shot. This is an important step for all Flow ecosystem builders, who are propelling the next wave of digital revolution. Backed by industry leaders including Binance and Paxos, the introduction of BUSD on Flow will unlock entirely new ways of building secure DeFi primitives, untapped NFT use-cases, and global marketplaces. Flow is uniquely geared to become the building block for the next generation of decentralized consumer applications, enabling developers to deliver rich digital experiences powered by blockchain technology. With BUSD on Flow, the breadth of these experiences expands significantly. The details of the partnership include: BUSD stablecoin will soon be available on the Flow blockchain Any third party or ecosystem builder on Flow will be able to integrate the stablecoin in their dapps in a permissionless way “We believe decentralized entertainment and games will play a leading role in accelerating crypto adoption. Our partnership with Flow and Dapper’s track record will bring BUSD into the hands of millions of consumers. We will not stop innovating as we look to build the fintech infrastructure for tomorrow,” said Binance Chief Compliance Officer Samuel Lim. Flow is the only layer one blockchain built by a team that both understands the importance of reducing complexity for ecosystem developers and possesses proven expertise in eliminating on-boarding friction for mainstream users. Because of this, leading global companies like Ubisoft, Warner Music Group, and Animoca, along with brands like Dr.Seuss, the UFC and the NBA have partnered with Dapper Labs and Flow to deliver blockchain-enabled applications to billions of people. “At Dapper, we believe that having a stable, trusted currency that users can easily access, understand, and trust, is paramount to adoption.” said Mik Naayem, Chief Business Officer at Dapper Labs. ”By partnering with Binance and the BUSD team we are one important step closer to create the infrastructure needed to power decentralized applications with mainstream aspirations.” BUSD stablecoin is: Regulated: for customer protection, BUSD is fully regulated by the New York State Department of Financial Services Backed: every BUSD token is backed 1:1 with US Dollars Audited: monthly audits make sure the BUSD and USD supplies match The highly-regulated and secure nature of BUSD bolsters Flow’s consumer-friendly attribute by enabling a richer ecosystem while unlocking new opportunities in DeFi that would otherwise be out of reach for mainstream users. New DeFi applications covering derivatives, collateralized loans, P2P credit systems, insurance products, and more will start to flourish on Flow. About Dapper Labs Dapper Labs is the company behind CryptoKitties and the Flow blockchain as well as upcoming titles like NBA Top Shot. Founded in 2018, Dapper Labs uses blockchain technology to bring new forms of digital engagement to fans around the world. Blockchain-enabled applications can bring fans closer with the brands they love, give people a real stake in the communities they contribute to, and create new ways for consumers to become creators themselves. Publicly-announced Dapper Labs partners include the NBA and NBPA, Warner Music Group, Ubisoft, and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others. BUSD BUSD (Binance USD) is a stablecoin pegged to the United States Dollar (USD). Approved by the New York State Financial Services (NYDFS) and issued in partnership with Paxos, BUSD is available for purchase and redemption at a rate of 1 BUSD to 1 USD. Press Contact Email Address weilei@dapperlabs.com Supporting Link https://www.onflow.org/ This is a 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. The post Binance Supporting Flow Blockchain with BUSD Stablecoin appeared first on Bitcoin News. View the full article

Cryptocurrency trading platform Kraken has received a banking license recognized under federal law to operate as a bank in the U.S. The company has outlined its plans to offer a number of cryptocurrency-focused financial services locally and globally. Kraken Now a US Bank Kraken announced Wednesday that it has received a U.S. bank charter. “The state of Wyoming has approved Kraken’s application to form the world’s first Special Purpose Depository Institution (SPDI), tentatively called Kraken Financial,” the company detailed, elaborating: Kraken Financial is the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law. The announcement further states that Kraken Financial “will be the first regulated, U.S. bank to provide comprehensive deposit-taking, custody and fiduciary services for digital assets.” The Wyoming Legislature enacted HB 74 last year, which authorized the chartering of Special Purpose Depository Institutions, which Kraken described as custody banks for digital assets. As a bank, Wyoming law requires Kraken Financial to maintain 100% reserves of its deposits of fiat currency at all times. “If every client were to demand withdrawals of their fiat at the same moment, Kraken Financial would be able to fulfill each withdrawal immediately without regard to how many loans we had outstanding,” the company emphasized. Kraken Financial will be regulated by the Wyoming Division of Banking. It will have a permanent physical presence in Cheyenne with back-office teams and functions. Kraken clarified that it “will operate an online and mobile-first banking model.” The company explained that its banking operations “will start locally, but will soon operate globally,” noting that the SPDI charter will help expand its reach across the United States, “and will also help the broader Kraken organization to service companies around the world.” Initially, accounts are only available to U.S. residents, but the company says, “We hope to expand globally soon.” Kraken also outlined the services it plans to offer. In the first year of operations, digital asset custody, demand deposit accounts, wire transfers, and funding services will be available. Within the next few years, more services will be added, such as staking, trust accounts, a complete suite of online and mobile banking services, and debit cards. Will you open an account at the Kraken bank? Let us know in the comments section below. The post Kraken Cryptocurrency Exchange Gets US Banking License, Plans to Be Global Bank appeared first on Bitcoin News. View the full article

A Spain based crypto Ponzi scheme, Arbicorp abruptly froze accounts of more 120,000 investors on September 12, after the discovery of an error that causes one of its cryptocurrency trading bots to overpay. Arbicorp claims that the error, which went unnoticed for almost a year, led to its trading bot called Community Bot, to pay 28% more in profits than were due. Interestingly, despite incurring severe financial losses, Arbicorp management said they still went ahead with the overpayments for more than a month. However, Arbicorp assures investors in a statement that “no one will lose” and management even suggests that aggrieved investors that want to take legal action “can proceed.” Yet in the same statement, the organisation reminds such investors of the terms and conditions of the investment agreement they signed. Part of the terms state: “The client accepts that the use of our website or service is at own risk and responsibility. The client agrees that the said service is provided as explained depending on availability. The company does not guarantee that the service will be uninterrupted, safe or error-free; nor does it guarantee the results.” Consequently, Arbicorp warns investors that choose the legal route that “we will hold your payments until the judicial resolution” has been made. Meanwhile, despite suffering this setback, Arbicorp management appears keen on getting some of the affected clients to continue investing with the company. The management reminds investors: We remind everyone that Arbistar 2.0 still has 4 bots of Forex, 1 commodities bot, shortly one of crypto trading and the Personal Bot Pro of Cryptocurrency Arbitrage THAT ONLY KNOWS TO WIN and that in a few weeks it will enter phase 2 to 5,000 euros per year. Immediately after the announcement, some Arbicorp investors took their complaints to Twitter. Replying to the announcement, an investor Diana Ruiz asks: “Good afternoon, I want you to explain to me and I think we have that right to know what will happen with our investment, we are a family of brothers who invest all our capital in your company and we fully trust you, please we want the truth.” Another investor, Jamerson Andres said: “As for me, I have an account for a year from which I have not withdrawn much and at this moment when I look at it I see a lower investment than the initial one.” Meanwhile, Arbicorp asks investors seeking any information on the closing and liquidation of community bot accounts to reach out. Do you think Arbicorp will reimburse all investors? Tell us what you think in the comments section below. The post A Spain Based Crypto Ponzi Scheme Abruptly Freezes Accounts of 120,000 Investors appeared first on Bitcoin News. View the full article

The rapid growth of decentralized finance (defi) protocols is contributing to the increasing proportion of ETH supply that is now locked in smart contracts. More than 15% of the total ETH supply is now locked, compared to 11.5% from a year ago. This growth led to the inevitable decline of BTC dominance. According to a report, over 5% of ETH is locked up in the WETH (wrapped ether) smart contracts, enabling it to interact with other tokens more easily. Most of this WETH has then been locked up in defi contracts, including Maker, Uniswap, and Balancer. The report also notes that aside from “defi use cases via WETH, the largest ETH balances in smart contracts are for exchange multisigs.” Data from Dune Analytics showing the current WETH supply on September 16, 2020. While exchange multisigs simply “represent custodial passive holding, the other contracts (WETH, Compound, etc.) are all examples of how ETH is moving beyond the simple ‘store of value’ use case.” Meanwhile, despite seeing its dominance diminish, BTC still showed “bullish fundamentals, both in terms of on-chain activity and price trends.” Also, taking note of the interesting similarities between what happened during the 2017 ICO boom and the current defi craze, the report states: A similar trend played out in the bull run of early 2017, when money flowed into high-yield ICOs at a much faster rate than BTC. However, later in 2017, BTC started to regain dominance as ICO investors took profits and de-risked into a more reputable asset. While it might seem logical to conclude that investors will move profits from high-yield defi tokens into BTC, the report presents a different possibility: “Many investors now talk of ‘stacking wei’ as opposed to ‘stacking sats,’ signifying a potential shift in BTC’s status as the default store of value within crypto markets.” This suggests that BTC’s waning market dominance might be permanent this time around, as far as retail crypto investors are concerned. However, given the growing interest in BTC by institutional investors, the digital currency stands a “better chance of attracting investment from traditional hedge funds than the defi community.” What do you think of BTC’s declining dominance? Tell us what you think in the comments section below. The post Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining appeared first on Bitcoin News. View the full article

The UAE cryptocurrency giant, Global Digital Industry Group (GDIG), has established its mining subsidiary Bitworld and will invest $50 million in the company by 2021 as it works to build the company’s presence in the Middle East bitcoin and Ethereum mining industry. GDIG has appointed its mining head, Planck Danny as the CEO of Bitworld. Pictured above: Planck Danny at the Dubai Burj Khalifa office with his team. GDIG said the traditional digital currency mining industry is restricted by power requirements, hardware production, purchase channels and other resource constraints, making it hard for traditional financial businesses to invest in stable and profitable digital currency mining projects. In the Middle East, the cost of oil and electricity resources is low, but the production capacity of mining machines is subject to greater constraints, and the most cutting-edge high-performance mining machines are mainly produced in the Asia-Pacific region. By establishing Bitworld the Middle Eastern region will no longer be subject to the influence of mining machine production capacity in other regions, and mean Bitworld is able to give priority to supply their own miners to businesses in the region. CEO Planck Danny, co-founder of GDIG, said: “Bitworld will leverage its research and development strengths to supply not only itself, but also the entire Middle East, with the latest high-performance professional mining machines. “Bitworld will also play an important role in providing equivalent computing power in the mining business of digital currency rights pledges and mining machines, and is already interested in future cooperation with a number of energy companies in the Middle East and Asia Pacific.” Bitworld will also explore new directions, while opening BTC, ETH and other cloud computing services to help balance the cost of energy consumption in global mines. Global Digital Industry Group Headquartered in Dubai, UAE, on the 132nd floor of Burj Khalifa, with over 70 employees, it operates in two main businesses, digital currency mining business, and the Global Digital Industry Group Foundation. Global Digital Industry Group Foundation Involved in several blockchain projects such as IPFS, BTW, CDS, etc. is a global firm that builds and invests in blockchain companies around the world. One of the most active investment firms in the blockchain space in the Middle East. Website: https://bvw.im/ Twitter: https://twitter.com/BTWChain This is a 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. The post Global Digital Industry Group Launches Mining Business Bitworld appeared first on Bitcoin News. View the full article