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Showing posts with label crypto updates. Show all posts
Showing posts with label crypto updates. 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.
When AWS or the Amazon Web Services released, Amazon was far from behind to use Blockchain. For the starters, AWS is a platform that Amazon provides and it is an amalgamation of different things put together to make itself: an ‘evolving cloud computing’.


A Different Take with Amazon Quantum Ledger Database

However, Amazon could not be left in the league of Blockchain kind of technique as it has taken the world by storm while easing out many problems that organizations face. With Amazon Quantum Ledger Database aka QLDB launching today, Amazon has finally got itself a completely managed ledger database!


QLDB tends to execute many transactions at the same time thus making over all process an easier one. An individual shall witness transparent nature, easy to use and speed as its most important aspects whilst there is also going to be automatic ‘scale up and down feature’. Users will be able to make use of it at any time they wish to.

Another feature that has caught the attention of people is the simple fact that this new ledger database has been designed in order to have transactions verifiable in a cryptographic manner. To ensure that everything is managed appropriately there is a central trusted authority to look after all portions.

Managed Blockchain Service by Amazon

This turns out to be another service which Amazon has announced along with the quantum ledger database. QLDB is going to be in fast track mode apart from having modifications done in cryptographical chained manner.

On the other hand, Amazon Web Services Managed Blockchain product is the piece that is going to be the one which is permitted to operate Quantum Ledger Database.


With ‘Amazon Managed Blockchain’, you witness a service that is going to allow set up besides managing of ‘scalable Blockchain network’. All of this is done in a matter of seconds with a few clicks.

Due to such a set-up, most of the applications that run behind numerous transactions would vanish in a jiffy thereby creating an automatized system. An automatic system is also responsible for tracking operational metrics and these can be either storage of resources or usage of either memory or compute’.

There is also an option of handling of certificates that was not possible up until now. Most importantly, a characteristic most liked is viewing trends and at the same time having a deep analysis of how the network activity is outside a given network!

Amazon has indeed gone a step further to bring in blockchain in to the picture but in a little different manner and it is yet to see how would this effect on the whole system. Reasons being with quantum ledger database by your side, there is an option of checking (read managing certificates) apart from the ability provided to invite new users to this network!

And so, Amazon has announced two path breaking techniques that may turn tables for good for the giant!
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.
Ohio seems to be one of the first states to have agreed for business tax payments to be carried out in Bitcoins, a Cryptocurrency which has seen quite some unrest in recent times.


Pay Business Tax in Cryptos

As a matter of fact, a strong reason compelled Josh Mandel, State Treasurer and his department to look in to cryptocurrency payment. One of the reasons here is: crypto payments are not only transparent but also secure. Finally, the cost of these is also at the lower end.

With these and many similar characteristics of Cryptocurrency Payments, it was time for the officials to okay tax payment in bitcoins. Moreover, with cryptocurrencies, none can transfer the amount to third parties, thereby eliminating fraud altogether.

Blockchain network enables for a tracking system in a second to second basis thus making it transparent to the core. One may wonder as to when was it that Bitcoins in particular and cryptocurrencies in general became a favourite of Mandel; and so, for the record, Mandel has been keeping a track of the way cryptocurrencies work and he showed keen interest in bitcoins right from the time he was appointed way back in 2011.

Views of Jerry Brito on Bitcoin as Mode of Payment

As per the Director of Coin Center, Jerry Brito, bitcoin technology is advanced in every manner and this is why people from both sides, government and the bad guys look forward to use it for their means. However, there are only two common aspects here: one is Bitcoin and second is Blockchain.
When we look at the news, we understand that there has been quite a downfall in terms of Bitcoin’s graph in the past few days, however, the end has not arrived yet.

By adopting Bitcoin, a cryptocurrency as a mode of payment, Government is ensuring that payments are more secure, more efficient and of course are transparent. Thus, taking technology to the next level.

There have been other states as well who tried bringing in cryptocurrency payment and making it official still luck has not been on their side as at the higher levels, the legislative levels, things were stalled.

Ohio: First State in the US to Accept Bitcoin Payments

Yes, with other states backing off, Ohio became the first state as well as the first government in the United States to make an official announcement regarding acceptance of tax payments in cryptocurrencies and in Bitcoins at present! Thus, beginning from the 26th of November, Ohio shall accept Bitcoins for tax payments.



Currently there are about 23 kinds of business taxes which can be paid in Bitcoins. To pay taxes one can utilize BitPay, the payment service and end up paying taxes.

Note:

Currently only businesses are permitted to pay (business) taxes through BitPay (in bitcoins) there are plans to make it available for individuals as well. But for this to happen, a lot more thought process is to be done.

Till then let us see how the world of cryptos would work about and what shall be the status of bitcoins in the future.
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.
If we go by the latest reports, then it says that there is a new crypto exchange, which is going to be 100% owned by the users. Transaction costs are mostly on the rise affecting both traders and investments in a certain way. Therefore, it was about time for a hybrid community to have sprung up and showcase a ‘digital asset exchange’ benefiting every person involved in it.


What is this Digital Asset Crypto Exchange?

The all new user owned crypto exchange is being built on a democratic exchange platform, this is what gives itself an edge over others. Users can by putting in to use ‘DAREX Hybrid Crypto Exchange Platform’ would be able to trade Securities as well as Utilities.

Trading like these lead to transactions thereby leading to revenue that is going to be shared by Token Holders. In other words, it shall be one of its kind especially because profit sharing from transactions was never a part of this game.


Darico Community plans to share revenue through DECS or the Darico Exchange Community Shares. Most importantly, a decentralized structure has been set up on the basis of a centralized exchange thereby establishing a great amalgamation of the two while still being a decentralized one!
Due to such a system that DARICO comes with, it ends up being all the more useful option for many investors as well as traders, reasons being till date there has not been a single platform wherein an individual could deposit, withdraw or even trade top cryptocurrencies from the world.

Another aspect that is to be made a note of is a simple fact: Token Holders to get Voting Rights, rights that give them a benefit through which they can check progress of user controlled crypto exchange platform.

Though it seems to be a far-fetched idea, however, when implemented in a proper manner then it is going to set new records that have not been seen ever before.

Launch of DARICO Ecosystem

As per the reports, DARICO tokens are going to begin its distribution from the 10th of January 2019, these tokens shall be distributed only to the community members though. There are also plans to permit users to transfer Fiat, this shall be another added advantage for users. Reasons being they can utilize this opportunity of cross trading with the assistance of bank accounts and cards.
Cross trading allowed in this system could be from any Fiat currency such as Euros, Dollars or Pounds to that of Cryptos. To ensure that things fall in to place and there should not be any hitch in its working, there is a coming together sorts of thing between Darico and Polymath.


When both of them come together then companies may also launch ‘securities tokens’ on a Blockchain based platform. Finally, what can work for the company is a simple fact: make a transparent business model’ through a monitoring system besides utilizing ‘failproof cold storage’ made solely for protection of funds present on the exchange.

Quick, transparent, reliable, fiat to crypto user owned crypto exchange is DARICO’s Hybrid Exchange!
Digital Currency slowly turns out to be a more viable option than other currencies in place. It was hence a natural step for companies to take forward this kind of currency.


A Japanese Shipping Line to Launch its (Own) Digital Currency

Yes, you have read it correctly, Nippon Yusen K. K. or NYK is one of the largest ‘shipping line’ when it comes to ‘Sales Department’. Some sources have also reported by saying that the digital currency to be introduced by this firm is going to be used only by the crew members.

There is a simple reason for providing a digital currency of its own, reasons being individuals or the crew members can manage money without any troubles in Nippon Yusen K. K. When calculated the revenue from 1 April to 30 September 2018, it stood at 915.6 billion yen. With a staggering $8.1 billion consolidated revenue, NYK Group went a step ahead to introduce its own currency.

This idea is however in its initial stages and therefore nothing much can be revealed about it presently. There is little information that these sources are aware of, some of this information include:


·         1)  New Digital Currency by Japanese Shipping Firm shall be pegged against dollar.
·         2) This would mean that irregularity in value is not going to be a problem.
·         3) Payment in one’s digital currency is a great method to cut down costs and trouble taken during            transferring amount to the maritime workers.

Work in Progress with Banks to Offer Such Services

Nippon Yusen K. K. is working with not only software developers but also is in talks with banks so that launch and use of their new currency would not have adverse effects. Conversion of the new currency while putting in to use ‘shipboard communication system’ are successful at the moment and so when a few more technological inputs are given, it is certain to have positive effects on the overall system.

There is one question though that has taken individuals by surprise as well as put their thoughts on a racing track: it is none other than the only question: ‘will this digital currency be of any help to a company as large as Nippon Yusen K. K.?’

Agreed that many other companies are slowly moving towards the new age trend of digital currencies still it has not been completely accepted by many, some experts feel that if every single thing is worked as per rules then there are chances for such currencies to rise steadily with time.

Blockchain or No Blockchain?

Some of you may be knowing that digital currencies these days have been associated with Blockchain because it is due to these blockchains that cryptocurrencies work. But it is not clear yet as to what technology shall this shipping line put in to use; will it be blockchain based or another technique on similar lines?

One aspect is clear though and it is that customization is key to establish Nippon Yusen K. K.’s Digital Currency in order to serve its purpose.

Time may have come now that people are switching to digital currencies but still, it is a long way to go.
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’.