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Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts
Latest reports on cryptocurrencies is here and one of these reports relate to ‘keep crypto enthusiasts posted about the developments of ICO’ connected to the Singapore Central Bank!

Well, for the starters, MAS or the Monetary Authority of Singapore has begun to update its guide associated with those businesses which wish to ‘raise capital through Initial Coin Offerings’. It indeed comes as a news most waited because now people would be in a position to understand the minute details in a better manner.


New Payments Framework: Monetary Authority of Singapore

Before making it known by all regarding the benefits of utilizing Initial Coin Offerings, Monetary Authority of Singapore had introduced ‘New Payments Framework’ a draft which now seems to be complete with new rules added to its pages. It is therefore advised to all the readers to go through this article and then make a note of the points listed here as they shall serve you in the longer run.

What does Singapore Central Bank have to say about ICOs?

A list of instructions has been put down in black and white so as to enable individuals to have a grip on what exactly does the Singapore Central Bank have to tell crypto enthusiasts. For the beginners, Anti Money Laundering or AML as well as Countering Financing of Terrorism or CFT policies are to be taken care of and this is the first and foremost aspect to be taken a note of.

Every individual who gets involved with an ICO, so as to enable raising of capital for a business will be hereby addressed as an ‘intermediary’. Hence, it becomes a necessity for all intermediaries to adhere to the laws laid down by the authorities.


Another of the important aspects here is that all people who are a part of ‘raising capital for business via Initial Coin Offerings’ must have a license else they would have to face dire consequences. As an example, it is better for an ICO issuer to get Capital Markets Services License while MAS or the Monetary Authority of Singapore has to approve besides acknowledging Digital Asset Exchange. Or for that matter, Financial Advisory License is to be given to the Financial Advisors.

Only when these rules are followed, will MAS approve transactions whilst permitting businesses to go ahead with their plan of raising capital through ICOs! Another of the rules to be noted is: it is not a problem if tokens are not ‘securities’, however, they have to be under the Anti Money Laundering and the Countering Financing of Terrorism Acts.

With above stated changes coming soon, it is now to see as to how would these impact on the way ICOs worked in a country like Singapore. Till then remember, the new Payment Services Bill or PSB in Singapore has allowed for bringing ‘digital currency’ under laws for both international as well as domestic money transfers.

Interestingly, the new Payment Services Bill of Singapore has made it possible for digital currency to be working under the Foreign Exchange Transactions! This news is certainly one of those that cannot be given a miss.
Coinbase, the Digital Currency Exchange has gone on record to state that it shall now add Zcash to its listings thereby enabling transfers of Zcash or ZEC on its platform Coinbase Pro. This transfer of Zcash on Coinbase is limited to the Coinbase Pro Users at present whilst there are plans to open its use to the other users in future.


As a result of this, Zcash, which is another of the cryptocurrencies in the market will be trading in Australia, Canada, the European Union, the United Kingdom, the United States apart from NY and Singapore.

Why Zcash on Coinbase Pro?

Zcash, as most of you might know is a cryptocurrency and it is one of those few currencies that focuses on providing improvised privacy to its users. To ensure that this turns out to be a reality, Zcash puts in to use cryptography! Another benefit that users get at Zcash is ‘efficient, safe and private digital transactions’ with Zcash by your side.


Moreover, there is an option of having differentiation of shielded as well as transparent transactions similar to that of encrypted HTTPS and unencrypted HTTP! And as the words describe, transparent or not crypted version will allow access to third party for seeing metadata. While for encrypted or the shielded version, this is not the case and data remains protected.

Deposits from Transparent and Shielded Addresses but Withdrawals for Few

Yes, at the beginning Coinbase is not going to go full fledged when it came to depositing or withdrawing at Coinbase Pro for Zcash. An individual would be able to deposit from either transparent or the shielded address however this case changes when it comes to withdrawals.
Withdrawals are going to be permitted only to transparent or unencrypted addressees only for time being. In future, situation may change as and when local laws of a state would allow. For this to turn a reality, it shall certainly take some more time.

ZEC Launch and its Stages under Trading Rules of Coinbase

Starting from 10 am PT, that is 29th November, customers can transfer ZEC to Coinbase Pro Accounts. Order books shall become in transfer only mode for a minimum of 12 hours.
In next stage, customers will be permitted to post ‘limit orders’ and have no match; with these order books being in ‘post only mode’ for about a minute.


It will be only at Stage 3 that limit orders will begin matching while customers would not be in a position to submit these market orders. Whole set up for stage 3 shall last for about 10 minutes.
In the final stage, also known as ‘full trading’, options such as limit, market or even stop orders will be available for use.

(Note: ZEC at the moment is not available on Coinbase.com or its Mobile Applications.)
In case you wish to start trading then you have to sign up for the Coinbase Pro account, as Coinbase is aiming to include trading of many assets over a period of time.
Jay Clayton, Chairman of U. S. Securities and Exchange Commission has indeed pointed out some of the key features that the Chairman thinks benefitting to the current situation of Cryptocurrency market and the world revolving around cryptos especially Bitcoins, a cryptocurrency that has been quite volatile in the past few weeks specifically.


Bitcoin ETF (Exchange Traded Fund) to Take Some More Time

Recently we had reported that the Chairman of Securities and Exchange Commission from the U. S. is pondering over having an exchange traded fund in some time. However, for this to become a reality, a lot of security features are to be looked at carefully before finalizing any aspect because it is without any doubt going to have effects at a later stage as well.



Initial Coin Offering Start-ups Must Check with SEC at the Earliest

All the ICOs or the Initial Coin Offerings if checked with the U. S. Securities and Exchange Commission quickly then there would not be any penalty put on these ICOs. Hence, it is advised that start-ups check with SEC beforehand rather than inviting trouble at their door step.


Already two start-ups have been fined or you may also say issued ‘civil penalties’ by SEC as they had not registered in a correct manner as it was required to.

Happy to Help: Yes, Jay Clayton, the Chairman, made it pretty clear that it did not actually have any kind of trouble to assist crypto startups. However, these start ups have to be in the United States only.
Another thing to be looked at carefully is the fact that these start-ups may indeed have to check for a method to ascertain a fact: ‘get in compliance with the law’. Some people think that doing so (‘get in compliance with the law’) might be a bit difficult as well. On the whole if all rules are followed then there is not going to be any kind of trouble whatsoever (only when rules are followed).

Regulated Exchanges are need of the Hour

When we look at the current picture, we can see that Cryptocurrency exchanges now a days are never in the regulated format. Hence, problems sprung up every now and then. Issues that these crypto exchanges face include ‘price manipulation’.

Therefore, as a result and as an answer to this, Jay Clayton felt that it would be a plus point to have ‘regulated exchanges’. With regulations of exchanges, price manipulation activity would also come down. Price manipulation is one of those culprits that is eating away at Cryptocurrency exchanges thereby leaving investors with confused questions.

The other side of the coin hints at: will Bitcoin be one of the leagues here? While some experts believe to a great extent that it would be next to impossible to have Bitcoin regulated with the way it has grown over the years.

It is now to see what would happen to the crypto world with the United States Securities and Exchange Commission taking center stage in all aspects.
Bitcoin Futures does not look like taking a downhill drive because NASDAQ, the American Stock Exchange, second largest in the world, has some plans for it. If reports are anything to go by then the American Stock Exchange is in no way going to leave Bitcoin Futures as it is still in full force to keep launch of Bitcoin Futures as per the plan.


Bitcoin goes down but not plan to launch Bitcoin Futures

Though Bitcoin in recent times has seen downfall on almost continuous basis still it did not leave an impression on NASDAQ. Reasons for this being, team at NASDAQ plans to launch Bitcoin Futures somewhere in early 2019.

Work is in full swing for the launch to be a timely one as team responsible for this at NASDAQ is working on nitty gritties of the launch and it has already come to terms as to what are the missing aspects. With this information in hand, team at the second largest stock exchange is constantly upgrading its launch in order to meet standards laid down by none other than the Commodity Futures Trading Commission aka CFTC.  For the beginners, CFTC is the main swaps regulator back in the United States.


Agreed that there many plans were there for Bitcoin Futures to be launched somewhere in the mid of 2018 however, all aspects could not be placed during this time and thus the delay was about to be caused. However, with passage of time, NASDAQ has worked out its plan and it is in full swing to release one of the best versions of Bitcoin Futures in present day.

It is now to see what would be its affects or how Bitcoin Futures is going to be affected by the volatile pricing of Bitcoins witnessed now a days in crypto world. Bitcoin pricing has indeed shaken the world to the core bringing about a series of changes in the way people in general and investors in particular looked at Bitcoins.

NASDAQ not affected with Bitcoin Pricing

There were also some reports in the market that stated that the American Stock Exchange is not perturbed with the way Bitcoin’s world changed almost overnight! (or should we say almost a few months?!)

Cryptocurrency Trading may go in for a Change

Yes, you have read it correctly, with NASDAQ’s decision becoming a reality, it is sure to make some changes, major ones to the world of Cryptocurrency. Although majority of these modifications would be seen in the Cryptocurrency Trading World!

Due to this and similar other reasons, Bitcoin Futures is being planned to be launched in early of 2019 and most probably in Q1 of 2019! Another of the key points here is that there are a lot more chances of having NASDAQ’s own Bitcoin Futures Contracts in Q1 so that nothing goes wrong at the last moment with inclusions of having the latest techniques in place so as to be enable to cater to the upcoming market.
Bitcoin ETF or the Bitcoin Exchange Traded Fund came very close to the approval of United States Securities and Exchange Commission! However, this can be possible only when there is better ‘market surveillance as well as custody for the Cryptocurrency’ and for this to happen it might take some more time.


Well, it comes to a little surprise after Chairman of U. S. SEC, Jay Clayton announced about giving a nod to Bitcoin ETF (exchange traded fund). Till date SEC has denied access to numerous ETF applications, because the committee understands that they are still not up to date when it comes to ‘investor protection’.

First Bitcoin Exchange Traded Fund

If everything falls in place then Bitcoin Exchange Traded Fund is going to be first of its kind in this league! It was at the Consensus Invest Conference in Manhattan that Jay Clayton specifically announced about its plan to release first Bitcoin ETF however, this can be done only after careful consideration of how things work out post complete quality check.


‘Manipulation’ is one of the major concerns that Clayton stressed on and he said that most of the Cryptocurrency exchanges are not equipped with similar monitoring tools which usually is there with stock exchanges. This would further lead to not getting to know exact price of Bitcoin, it may also harm interests of the investors.

On the other hand, if we take a note of exchange traded funds then they end up keeping a track of index or a group of assets. Earlier as well, SEC did not approve Exchange Traded Funds brought up by Winklevoss Brothers. Reasons behind this was a simple fact that there were many risks involved overall and US SEC could not take up such ETFs to a larger interface.

Custody or Storage Matters in case of ETF

Of course, storage or the custody is another of the major concerns that we are facing nowadays and hence even U. S. Securities and Exchange Commission Chairman, Jay Clayton mentioned this about safe storage of assets.

When we look at the price of Bitcoin, then we know that its price is already not stable therefore, this stands to be one of the hurdles that has to be addressed at the earliest before taking things to the next level.


Out there, a number of ‘custody solutions’ related to cryptocurrencies are there or are in the pipeline. It is now to see how these set of solutions come forth to assist Cryptocurrency custody apart from handling trade execution for ‘institutional investors’. To ensure that end results are perfect, Clayton went on to add that a lot more improvement in custody solutions shall be helpful!

Would US SEC decision affect Bitcoin Pricing?

This is one of the major questions arising in crypto discussions. As most of us are aware of how volatile Bitcoin has turned itself in to. However, experts would not be able to say currently as to what would this decision of SEC bring in for Bitcoins!
Crypto exchanges in Taiwan are going to have some more new strict rules targeted to prevent illegal transactions under the garb of digital currency. This news comes forth post new policies being added to ‘AML or the anti-money laundering policies’ that Taiwan has
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It was not until this year that the Government of Taiwan okayed for digital currencies because it was still perplexed with the way regulation of Cryptocurrency market happened in Taiwan along with the Blockchain sector. However, things have changed quite a bit with the latest Money Laundering Control Act and Terrorism Financing Prevention Act coming in to action.

Legislative Yuan approved this recently drafted act and it also has been given the authority to ban transactions in case they are fraud. All of this is possible due to the fact that Legislative Yuan comes under one of the financial branches of the Government of Taiwan known as FSC aka Financial Supervisory Committee.

Regulations of Cryptocurrencies in place

With passing time, it looks like the Taiwanese Government is moving towards an arena wherein they can regulate and have proper control with the way local Cryptocurrency market works. The new system is also inclusive of the Blockchain space because their sole motto is only to prevent frauds related to or having involvement of cryptocurrencies.

Ministry of Justice, Taiwan releases statement

Even the Ministry of Justice, Taiwan has released a statement specifying these recent amendments to the anti-money laundering bill so it does not come as a surprise that the Taiwanese Government is working its way to make a good foothold with the way cryptocurrencies worked.


Related departments from the Government of Taiwan are putting their efforts to work for the better while meeting the standards laid down by International Anti-Money Laundering.

Centre for Blockchain based Businesses

Taiwan has slowly been building itself in to a center for Blockchain based businesses, so, when these things are in line then it is necessary that Taiwan and its government makes itself up to date with all aspects of cryptocurrencies. On the other hand, there were also reports for Taiwan to become one of the centers for Initial Coin Offerings also known as the ICOs!

New Crypto Laws in Taiwan

To ensure that everything is in place, Taiwan, like you read above, has modified the existing AML or the anti-money laundering law apart from CFT or the counter-terrorism financing law. Due to the recent alterations made, it would now become all the more necessary for crypto exchanges to give more information to the Government of Taiwan.

Another aspect to be carefully looked at is the way: compliance rules are to be changed by the crypto exchanges. With the Financial Supervisory Commission coming in to action (as they are responsible for creating laws in Taiwan), it is to see how would these laws impact overall Cryptocurrency Exchanges in Taiwan.

While at present, the only aim for Taiwan is to make itself more aligned with the way cryptocurrencies work besides changing crypto exchange markets for the better.
Bitcoin’s price went below $4,000 sending shock waves across the crypto world. Earlier, some reports stated that bitcoin would not fall below $4,000 however last weekend saw something else with cryptocurrency collapse worsening and still coming back a little.


No Stability in Digital Currency Prices

Some experts believe in the saying that nothing is constant and hence whatever is happening to digital currency cannot be said for sure, as in what shall be the exact price of cryptocurrencies and Bitcoins in particular.
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Bitcoin Pricing Analysis

Till the previous weekend, bitcoin prices were plunging down to as low as $3,456 and thus constantly being a reminder that bitcoin has fallen and there are bleak chances of it to gain back whatever it lost.
While on the other hand, Cryptocurrency due to its Blockchain Technology seems to be a viable option for many departments. One of them being, the Ohio State Government, first of its kind which has allowed for bitcoin payments for business tax payments!

This announcement was though welcomed by some sections of the society still many felt that with cryptocurrencies over-all value taking a dip what will happen to bitcoins? However, the State Treasurer from Ohio Government, United States put across one point: cryptocurrencies have been built on a platform wherein they end up being transparent and more secure thus eliminating any risks related to hacking or frauds!

With Bitcoins being allowed to be used as a payment method in the State of Ohio, 23 businesses are under its radar now. Next thing one shall be interested in is the fact that how and when would Bitcoins and other cryptocurrencies rise?

As for Ripple Price Analysis, it has remained steady above 35 cents and it is to see if it touches 60 cents!

Rise in Bitcoin Price (Analysis)

Till midnight of Sunday, Bitcoin had slid by 4.5%, a number none of the crypto enthusiasts expected but a few were aware that this might happen. However, by 7:50 am, things started to change as Bitcoin had regained most of its losses but still it is in the red!

In Stephen Innes words, Head of Trading for Asia Pacific at Oanda Corp, it is true that bitcoin has seen a lot of instability in the past few weeks and this was not the case last year. In case bitcoin goes further down then there might be a case for people looking for exits.

Still Unsure of Bitcoin Prices

With two think tanks setting up their own camps: Bitcoin Cash and Bitcoin Cash SV, this has impacted the price of bitcoins to a great extent. Experts from some sections of the crypto think tanks feel that we have to wait while many others are still unsure of what would happen to cryptocurrencies, an advanced version of currencies in today’s world.


With a great technology in place called Blockchain, cryptocurrencies are indeed a secure form of mode of payment still will they stay for longer or will they break down mid-way is the question that does not get answers for.
Uncertainty over the prices of cryptocurrencies in general and Bitcoins in particular seem to loom large thereby giving away the reasons for people to be confused as in whether cryptocurrencies are rising or tumbling further down!


Why only Bitcoins even other Alt Coins seem to have taken the hit of this uncertain decline of cryptocurrencies. There, however, does not seem to be any one reason that can be pointed out as to: yes, this is why cryptocurrencies bowed their heads.

Bitcoin Hard Fork Split

As observed by many, the moment Bitcoin Hard Fork split was announced, everything seemed to tumble down and it was something that shook the whole of crypto world. Reasons being Bitcoin was riding high and had never fallen below $6,000!


Tom Lee, Wall Street Investor analysed that ‘hash rate war’ turned the scenario to a lot of uncertainty and panic across different rungs of the society. In addition to this, to stay away from risks or unknown waters, many investors backed off stated CoinShares CEO Meltem Demirors.

Right from November of 15th, Bitcoin ABC as well as Bitcoin SV having emerged, they have two think tanks fighting a war, should I say a cold war?! With clashes between these two groups, it was evident for BCH to be diving down the market as it was seen later by us.

Rules Came into Action

Along with division of Bitcoin Cash, SEC decided to take charge of the situation and like earlier informed in one of the articles, stopped operations of many firms who did not obey rules. Brexit along with Central Banks Policies turned out to be other reasons for downfall of the highly anticipated cryptos.


Now many would be shell shocked and worried to know as to what shall be the condition of Bitcoins post the split of the decade?! Are they stable or have they begun to rise in the world of cryptocurrency?

As a matter of fact, sell off due to low trade volumes led to a panic which is a bit difficult to be summoned in words. In Greenspan’s words, nothing can be said for sure as to what would happen next. He believes things could turn around at any moment and nothing can be sure. Either Bitcoin stays there put while some people sell it away and a few others gather them.

Anthony Pompliano, host of Crypto Podcast as well as Newsletter has perfectly put across a point: ‘Bitcoin lives and dies on its own’ while only ‘a few synthetic protections are in store for the investors’.

While on the other hand, Tom Lee is certain of one fact though, it is: regulatory clarity is going to be the key to giving us a clear picture of where Bitcoins and other cryptocurrencies stand. And to quote Lingham, blockchain projects must specify as to what will be the other usable solutions apart from the one, we are aware of.

Cryptocurrencies have not held a stable position since some time, however, as of now experts have pointed out that only a few losses can be seen, so yes, drastically falling prices of cryptos have kind of stopped.

Lesson: Never to conclude before the final outcome is right before you.
ICO seems to have started moving towards various departments as well and the recent one to join this list is none other than the Portuguese Football: ‘Sporting Ponders’. Though still it is in the initial stages, there are talks about putting ICO or the Initial Coin Offering concept for good use for the Portuguese Football Club to raise funds.


So far, there has been only traditional methods of raising funds but with passing time, it turned out to be somewhat difficult to raise funds specifically through bond issue. The same bond issue is going to mature on the 26th of November and thus it was time to look carefully at different prospects before coming to a final decision.

Gross Annual Interest Rate

Generally, the bond issue that Sporting Clube de Portugal has, gives a 5.25% gross annual interest rate to the investors. Due to this interest rate, it raises about €30 million or $34.2 million.
Sporting Clube de Portugal requires funds because it is on the verge of repaying investors for the bond issue that is due to mature on 26 November. To meet the set target, the Football Club has already raised about €26 million or $29.6 million.

This amount was brought together after an increase in subscription orders that the team at Sporting Clube de Portugal had put up with. However, amount collected so far falls short of the actual amount hence it was decided to look in to other options that could help in raising funds.

Vice President of the Football Club, Francisco Salgado Zenha stated that the board is meeting often to discuss the possibility of bringing in Initial Coin Offering as an alternative option. There is nothing concrete in these discussions yet because all corners are to be checked properly before coming to a conclusion.

One conclusion that seems to have been made so far is that ICOs definitely have great potential in the sporting arena.

Other Clubs who are part of ICO

Portuguese Football is not the first of its kind to join the league of ICO in sports as there have been other clubs who entered this field a while ago as well. Some of the names inclusive of this list are ‘Brazilian Football Club Avai’ who launched not only its own ICO but had also raised about $20 million!


Similarly, Paris Saint Germain, French Soccer made it clear that it is also having its own cryptocurrency; apart from Newcastle United and the Cardiff City are in talks with SportyCo for assisting sporting brands to launch their decentralized sports investment plus funding platform. SportyCo was also responsible for Avai when Avai set to launch its tokens!

An Easy Walk for Sporting Clube de Portugal?!

It does not seem to be a cakewalk for the club to get initial coin offering start however, Securities Market Commission or the CMVM of the country has informed all organizations to clarify ‘judicial nature of tokens which are going to be issued’.

With ICO coming in to picture, it is to see if cash crunched sporting clubs get some relief.
Koi Trading is going to witness some of the best investments in recent times that too from ‘Binance’! Well, it has been officially announced today that Binance Labs would be investing a significant amount in a Crypto Trading Desk and it is none other than Koi Trading.

What is Koi Trading and Why is Binance interested in Investing in It?

‘Koi Trading’ targets itself to become the best ‘compliant global option’; basically, it will be made only for ‘Private Cryptocurrency Liquidity’. In addition to this, Koi Trading has made itself helpful in domains such as Data Science, Compliance Consulting Work and Quantitative Research among other similar stuff!


‘Compliant’ is a word that is close to Koi Trading because it aims to have not only Cryptocurrencies but also Fiat come together in a ‘compliant way’. With its network originating in San Francisco, CA, Koi has its OTC Trading Operation located (read headquartered) there itself.

Team at Koi Trading

CEO and Founder of Koi Trading, Hao Chen went on to state that there is an experienced team from Sales, Trading and similar backgrounds who would be putting their brains together to ensure that the Mission that Koi has set itself to would become a reality. And to assist one in this path is Binance’s Funding!

Another interesting factor here, if you have noticed is that, Binance also comes along to be possessing a ‘broader vision’ thereby turning in to an ally one could not forget. When these two bigwigs cross paths, there are many possibilities that an individual shall be witnessing networks in EU, Asia as well as North America to acknowledge what OTC has to offer.

What is OTC? Why is it Important?

In China, you are going to witness that OTC Trading is known by one and all (mostly). There are also numerous reasons for OTC Trading to go strong in China specifically after Crypto World witnessed crypto exchange bans or other kinds of regulations including complications.

However, like nothing can be perfect but close to perfect only, OTC is also facing some obstacles that if resolved might turn this form in one of the best things ever made. To help you understand this concept in a better manner, you can keep reading this article:
·         OTC Cryptocurrency Trading in China is coordinated in a manner wherein ‘WeChat’, another Chinese application is used for communication.

·         This technique may have an impact that would not let growth of a system as large as OTC Cryptocurrency Trading. Especially when there is growth from all corridors of the Cryptocurrency Markets.

·         It was therefore time for something more robust to take challenges head on because OTC Market has seen itself rising in crypto world outside China so the solution had to be brought in to existence.

Answers

AML Program from the house of Koi, Binance Labs Investments, Banking Relations from the United States moved things in a fast track mode so that whatever improvisations are being made, they can be implemented without any glitch or delay and trying to be not affected by any third-party instability. It is now to see how would Binance take this venture forward with passing time.
Watch this space for more news on Cryptocurrencies.
Bitcoin has dropped to an all-time low for the first time in 13 months and this is what has got every one sit up and take a note of. It indeed came as a surprise because some sections of the society still believed that there would be a rise as there had been a continuous fall of Bitcoins along with a few other cryptocurrencies.


12% drop of Bitcoins

Bitcoin has held the title of being ‘the Largest Cryptocurrency in the World’ since its inception, however, it has over time been stumbling down with the passing days. Though a little while ago, there had been a time when the price of Bitcoin remained steady but it was not long before Bitcoin prices started to decrease.

Why did Bitcoin Prices Go Down?

This has been one of the questions that some of us ask and the reason what we get is that: ‘a civil war lead to the downfall of Bitcoins, the biggest Cryptocurrency ever in the market’!

Rise in Bitcoin Prices: Bitcoin has generally maintained its position at $5,000 and usually it even touched and crossed $6,000 for the most part of 2018. While many of the crypto enthusiasts felt that Bitcoins would never fall below $5,000 ever again. But things did not work in this way as there has been a strong reason for this set back which many believe in.

Split in Bitcoin: Reasons for Bitcoin Price Drop: Many believe that this split in Bitcoins termed to be ‘hard fork’ which we had reported earlier as well, is one the major reasons for Bitcoins to take a dip in its pricing. There has been a case of enthusiasts stating that this division of Bitcoins could certainly affect pricing of Bitcoin in a negative way; this prophesy seems to hold ground here.

Roger Ver versus Craig Wright: Thoughts would Clash

A clash between Roger Ver, (strong supporter and an early investor to the Bitcoin family) apart from taking lead to Bitcoin Cash ABC and Craig Wright (an Australian Computer Scientist) who also claims to be Satoshi Nakamoto, mysterious inventor of Bitcoins led to the downfall of Bitcoins.
Hard fork, as this split was referred is stated to be the reason because many believed that such a division might in all probability ‘destabilize the market’. And this has what has happened today!




Other Reasons for Downfall of Bitcoin Pricing

Some experts think that there would be other reasons as well because only one reason could not lead to such drastic change in Bitcoin pricing.

If you remember, SEC made an announcement that a few operators from Initial Coin Offerings have broken the law and must pay for it.

Regulatory Space does not spare anyone so how could some one run away by breaking rules and not be booked for them? Upon reading this news, crypto investors had to take a decision.
While it is time that would say what would happen next, there is nothing permanent and there have been many incidents to say so due to the fact that a few experts think it is time for a change to come about pretty soon.
Electricity is crucial for ‘Crypto Mining’ and this is one of the major reasons that Chelan County Public Utility District or PUD from Washington has proposed a new plan. As per this plan, there shall be a completely new structure of electricity pricing for all Cryptocurrency Miners.


Rise in Electricity Bill for Cryptocurrency Miners

Cost of increase in electricity demand has to be borne by none other than the miners; so that others are not affected by it.

While Cryptocurrency Miners would not have to deviate a lot because the base structure for electricity pricing remains similar to which these Miners are used to paying. Reasons for such a drastic but a well thought out process is that ‘New Electricity Rate Structure (according to Schedule 36)’ has been done keeping in view ‘variable load that associates with Cryptocurrency Mining’.

Accelerated Costs

Costs have shot up, however, Kimberlee Craig, Public Information Officer noted the reasons for this difference stating: it is important that rate structure captures cost apart from protecting investments for customers. These customers are none other than the ones who have gone on to invest huge amounts in the system.


Upsetting Situation Hangs Over Cryptocurrency Miners

Hearing this latest trend of modifications from the officials at Chelan County Public Utility District, Washington, it was as a matter of fact: disheartening to agree with price change for miners. Though it becomes a necessity to recover money for the investments still it came as a surprise to the Miners of Cryptocurrencies!

What are these Investments? As for the investments that we are speaking here, Kimberlee Craig, Public Information Officer of Chelan (PUD - Public Utility District) clearly said that these investments are some of the fixed expenses of PUD. These also inclusive of ‘accelerated cost of infrastructure investment in the system’. This reference has cleared the air to a great extent. There is however, an air of disagreement from a few sections of the society.


Curbing illegal or unauthorized Cryptocurrency Miners had to be done and thus Chelan PUD enforced ‘Moratorium on Cryptocurrency Mining’. This suspension or ban on Cryptocurrency Mining has been witnessed in many states. Some of these said states have put up a ban on even Cryptocurrency Operations leading to complete ban.

If we look at the city of Ephrata, Pennsylvania, ban on Cryptocurrency Operations had been in place for close to a year now in this place. And same is the case with the Government of Quebec wherein it imposed a ban on sale of electricity to the Cryptocurrency Miners. This ban turned out to be a temporary one imposed somewhere in the month of May, or to be exact in the end of May.

Catch and Found

It was in April where PUD officials found unauthorized Cryptocurrency Miners and post the usual official proceedings, on 7th of November, Chelan PUD announced an absolutely new system of pricing as far as the Cryptocurrency Community is in question.

It is now to see what would this price change lead to with the residents of Chelan and Cryptocurrency Miners (community) in particular!
It seems to be snowing Cryptos and Fortnight V Bucks this Christmas! Yes, you read it correctly, as per statistics and surveys having been conducted recently, people, especially today’s generation slowly has begun to shift towards the new age of Christmas gifting ideas. Agreed that is not a bad part as such but hey have you ever wondered as to why people of an era earlier or at the least, a few generations before never happened to look up to cryptocurrencies as a gifting possibility?


Savings

Though people from the 1960’s had enough sources to invest still they preferred other gifts over cryptocurrencies. However, things have changed with the passage of time as now most of the Americans feel that it is in greater interest to gift Fortnite or Cryptocurrency! Both of them are virtual currencies while one of them is from Fortnite, a popular video game.

Fiat versus Cryptocurrencies

Fiat was and still is a great medium of exchange; reasons being it is approved by the Governments directly yet there has been a slight shift with the way there has been an advancement in currencies.
The generation today, does not have an issue when they use cryptos rather than traditional fiat even during ‘the gifting for Christmas’!



Digital Assets

These days, digital assets are given more importance and hence people tend to invest a lot in them. While on the other hand, if one notices a bit more carefully then one can find that Cryptocurrencies have to a large extent become another of the best sources of ‘medium of exchange’.
This gives rise to the idea that cryptos are the next form of digital asset that has crept into the lives of people.

Fortnite’s Story of How to Keep People Glued to Fortnite V Bucks!

It is quite unlikely that a firm shall make use of forcible techniques to keep people locked down to using only its currency. Fortnite has, however, made this switch without creating any sort of errors so far.

As we speak, Fortnite has ensured that its participants utilize only V buck to pay not only for outfits but also for in-game upgrades. Outfits that they will be buying shall be worn by characters in Fortnite. And when refunds are in question then they shall be made only in Fortnite V bucks thereby giving leverage to V bucks over Fiat.

Some of you may have very well heard that slow and steady wins the race; same is the case here!

Final Word

As per the survey recently conducted or even a study that Piper Jaffray conducted, many teenagers have felt that it is high time this switch has been made, strongly supporting a trend wherein teenagers from America have Cryptocurrencies and/or Fortnite V Bucks in their ‘Christmas Wish Lists’ rather than the same old Fiat.

Question that has risen due to this shift indicates: how would organizations react to this situation or would they allow for ‘Christmas gifting ideas change its base’?

Watch out for this space for the latest updates on ‘changing trends in crypto world’.
Currencies have over the centuries changed handed and denominations while retaining its true colors that is: used purely for transactions or money given in exchange of goods. Keeping same thoughts in mind, cryptocurrencies had come into the picture but still, somewhere they lacked to create interest among people.

With time and continuous efforts from the brains behind this currency type, things have changed as many folks have tried shifting their focus from using traditional ‘set’ currencies to the cryptos.



A Shift Slowly Picking Up Speed

Cryptocurrencies have finally begun to make themselves useful in the way they were intended to. Here we are talking about one of the many incidents wherein the residents of Moscow employ cryptocurrencies to conduct transactions. It might come as a bit of surprise for some folks as till now there has been a wave of uncertainty as to how would Bitcoin rise with passing time.

Remember readers, Bitcoins are one of the cryptocurrencies and yet there are many more cryptos out there. Bitcoin is one of the cryptos that many people use for transactions apart from ethereum, ripple, litecoin etc.

Report on What Cryptocurrency Usage Survey Has to Say

A survey had been recently conducted according to which close to 5% residents of Moscow preferred non-cash methods of payments inclusive of the cryptocurrencies! To be precise, about 1,000 people carried out transactions in such non-cash modes of payment. And to ascertain this survey further, regarding age group of people using these new modes of transactions, the surveyors got to know on questioning that there was no age bracket in particular and instead, all of them belonged to different age groups.



It does make sense here: cryptocurrencies were never meant to be put into service by only one age group but rather it has to be utilized by one and all!

Forms of Payment Used

On the other hand, there are still about 96% of residents who opt for bank cards while 16% of them used e-money. This survey also threw light on other payment services that people used namely: internet banking is utilized by about 32% of residents whereas some of them constituting about 40% of the population had switched to numerous mobile bank applications.
Hence, as you notice, people switch from one to another application (currency) in some time only. Therefore, it was about time for Cryptocurrency to make a mark for itself clearing the air that yes, it was time ripe for it to make a real entry in the real world out there.

Are People Ready to use Cryptocurrencies?

Curiosity arises whenever this question is asked - are people actually ready to use cryptocurrencies? Well, if looked at the above results from a survey conducted on residents of Moscow then we can very well say, about 5% of residents shall definitely give a try to Cryptocurrency as yet another ground-breaking payment method!

Revolution and change have been the most power packed words we adore and fear at the same time. With time, change becomes inevitable; thus, industrialization was a turning point of a whole new era for many of us. But have we ever wondered as to where would this stop? Or is there any way to throw together traditional and new techniques?

Of course, there are many ways to do this but everything boils down to one thing which is: is it worth the trouble?

The Emergence of Bitcoins and Blockchain

Post industrialization, one aspect that caught imagination of folks was this: Blockchain built to establish Bitcoins. Interesting though it may sound but somewhere down the line things got a bit tricky leaving a trail of thoughts.



Here, we speak about the initial idea of building a Blockchain, meant solely for Bitcoins. Time, however, took it to different places and now we find Blockchain being used in departments one could never think of. This leaves us with a question… has Blockchain worked for the best or not?

Money vs Cryptocurrency

Money, in simple definition, is a tool through which goods are exchanged, it is also recognized by the Governments across the globe. On the other hand, Cryptocurrency is based on Blockchain and still has not been recognized by any Country’s Government. Here comes the major difference!



Any reasons?

Reasons are abundant for not providing Cryptocurrency the platform it expected, one of them being Cryptocurrency (it may be Bitcoin or Ethereum or any other crypto) is decentralized to a great extent. This causes a clash thereby giving rise to good vs evil (in some cases). If you look around then you understand that most of the time, wrong doers try to find an escape route to finance their deeds.

Here it is, that most of them opt for Cryptocurrency as they do not leave a trail. Transactions turn easier than expected.

It was never this straightforward before though.

With Governments not identifying cryptos as a legal currency, it was bound to take a step back and hence one might very well observe that there has been quite a downfall of working of cryptocurrencies; some of them clicking whilst others struggling to stay at top of the game. From the very beginning, somewhere in 2017, there was a surge of investment from different corners of society, leading to a boom in cryptos; one, which had not been seen before.

Like a bubble bursts, Blockchain also burst only to reveal its true self wherein people could use it in numerous fashions * (in fields, making their work trouble free).

Never Ending Art Form

Aha! You may say this, Blockchain has led a revolution of its kind turning tables for what ‘money’ stood for. It did make banks in Japan to utilize it for making ‘Money Tap’, a domestic payment app. This got approved only after financial regulations were followed.

And so there might never be a dearth of Blockchain’s use, it is best if we use a wait and watch policy, for now, to decide future of Blockchain with its link to the biggest turnaround of the century ‘the Cryptocurrencies’.