" />

Tag Archives: marketing

Bitcoin passed $8,000 as institutional money inches closer to cryptocurrency markets

Bitcoin passed $8,000
as institutional money inches closer
to cryptocurrency markets

The future(s) is bright.

Bitcoin’s seemingly unstoppable bull run continued as it passed $8,000 for the first time around 6pm UTC yesterday (Nov. 19). The price has been flirting with $8,000 for days, probably because several signs point to the long promised arrival of institutional money in the cryptocurrency markets.

One indicator is the increasing popularity of bitcoin futures. Over the weekend, the first year-long contract for the price of bitcoin was agreed by traders on the LedgerX platform, an issuer of derivatives regulated in the US. The contract is an option to buy bitcoin at $10,000 by Dec. 28, 2018. According to LedgerX, this carries an implied probability that bitcoin will be above $10,000 on that date. LedgerX has conducted $16 million in bitcoin futures trades since it opened for business on Oct. 20, according to CoinDesk. Another major futures trading platform will also start testing bitcoin derivatives today. The Chicago Mercantile Exchange (CME) will begin letting customers test bitcoin futures today. The exchange plans to let customers trade bitcoin futures for real before the year is up.

Another sign that institutions are getting serious about trading bitcoin is a new service offered by the exchange and wallet provider Coinbase. It launched Coinbase Custody, a storage solution for institutions with at least $10 million in cryptocurrency holdings, last week (Nov. 16). Coinbase chief executive Brian Armstrong claimed in a blog post announcing the product that there’s over $10 billion in institutional money on the sidelines of the cryptocurrency market, awaiting custodial and other solutions, although he didn’t provide a source for this estimate. The eye-popping returns on bitcoin and other cryptocurrencies are difficult for any fund manager to ignore. Their entry to the still young cryptocurrency markets could drive the price of bitcoin and its ilk higher still. 

A Chinese tech giant just joined Facebook and Amazon in the $500 billion valuation club

WeChat mascots are displayed inside Tencent office at TIT Creativity Industry Zone in Guangzhou, China May 9, 2017. Picture taken May 9, 2017.

The latest company to cross the $500 billion valuation threshold

is virtually unheard of in the West. Shares of Shenzhen-based Tencent, a company that made its mark with its popular WeChat messaging service, rose 4.1% in trading Monday on the Hong Kong Stock Exchange to close at HK$420, bringing the company’s valuation to HK$3.99 trillion (about $510 billion).

That places Tencent alongside major US-based technology giants who have passed the $500 billion mark in recent months. Amazon, which went public in 1997, hit a $500 billion valuation in July. Facebook, which went public in May 2012, reached a $500 billion valuation that same month. (Both companies remain over the $500 billion mark.) Tencent went public in 2004 (paywall), with shares priced at HK$3.70 (then $0.47), raising nearly $200 million. Interest in the stock remained tepid for about five years, before its price began to rise—slowly in 2009, then steadily by 2013, and then meteorically in 2017. Its stock price is up over 120% since its first of day trading this year, according to Factset.

Tencent’s mobile chat app, ubiquitous across the country, originated in 2011 as the Chinese answer to WhatsApp, and now counts some 980 million active monthly users. It has evolved into a news reader, an online payment provider, a taxi hailer, and a search engine all rolled into one. While it makes very little money for Tencent directly, it’s a funnel for the mobile and PC games that have long remained Tencent’s cash cow, and it might eventually turn into something lucrative in its own right.

The company has delivered stellar earnings over the past year, driven largely by the success of the hit mobile game Honour of Kings. Last week it reported quarterly revenues of 65.2 billion yuan ($9.8 billion), up 61% from the year prior, and net income of

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Cryptocurrency is hot commodity as Bitcoin reaches record-high value

Cryptocurrency is hot commodity as Bitcoin reaches record-high value

Bitcoin now hovers around US$8,000 as investors pour into alternative currencies

The digital currency Bitcoin offers some benefits,

such as lower fees and global use. (David Gray/Reuters)  Cryptocurrency is a digital currency with no physical form or intrinsic value, but is an increasingly hot commodity as Bitcoin, its most well-known iteration, flirts with a record high. Bitcoin, the self-proclaimed original decentralized digital currency, is hovering around US$8,000 as investors pour into alternative currencies.

Many other types of cryptocurrencies exist, including Monero and Litecoin. These digital currencies are decentralized, meaning there is no third-party authority like a bank that oversees activity, and transactions happen directly between two individuals. This offers some benefits, such as lower fees and global use. Cryptocurrencies rely on blockchain technology. The blockchain is a public ledger of the currency's transactions.

Mining digital currency

Generally speaking, there are two ways to obtain cryptocurrencies: A person can purchase units on an exchange, or they can participate in cryptocurrency mining. Miners secure cryptocurrency networks. They receive new issues of the currency for verifying transactions, which are then recorded on the blockchain. Miners run software that can require special hardware, like asic chips — designed for Bitcoin mining. Their computers solve complicated math problems in exchange for new issues of the currency. A mathematical proof of work, created by trying billions of calculations per second, is required to confirm a Bitcoin transaction. The more puzzles a miner solves, the more cryptocurrency they earn — incentivizing miners to participate and strengthening the overall system.

Money math

On Bitcoin's network, the problems become more complex if they are being solved too quickly. As more miners joined the system and the problems grew very difficult, miners started to pool together to do this work. Once purchased or mined, cryptocurrency lives in the individual's digital wallet and can be used to purchase items online or at local stores that accept the currency. The digital currency's value is derived from demand. At the time of writing, one Bitcoin was worth roughly $9,800 (it is highly volatile), while Monero has yet to hit four-digit worth.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Gox ICO? CEO Karpeles Floats Token Sale to Revive Bitcoin Exchange

Gox ICO?
CEO Karpeles Floats Token Sale to Revive Bitcoin Exchange

A Mt Gox initial coin offering (ICO)? It's not unthinkable,

according to the defunct bitcoin exchange's controversial CEO. In a blog post published yesterday, Mark Karpeles detailed possible avenues for reviving Mt Gox, the once-dominant Japanese bitcoin exchange that collapsed amid allegations of fraud and mismanagement in early 2014. Hundreds of millions of dollars worth of bitcoin – at then-current prices – were feared lost, though ultimately 202,000 BTC were retained as assets, under the custody of a trustee.

In the aftermath, Mt Gox entered bankruptcy, and has since been at the center of an acrimonious, years-long claims process, including a $75 million claim from CoinLab. Prosecutors in Japan later charged Karpeles with embezzlement, with that trial beginning earlier this summer. The blog post also addressed a recent bone of contention: while the value of the remaining Gox BTC has swelled as bitcoin's price has climbed to close to $8,000 per coin, those seeking to recoup their losses may ultimately collect much less, if anything.

And while some are clamoring for that increase in value to be factored into the payouts, Karpeles pushed back on the idea in the blog post, stating that those gains haven't actually been realized yet, among other complications (the bitcoins remain in the custody of the Mt Gox trustee). One possible avenue around the issue: reviving Mt Gox, with a price tag of $245 million. This could be accomplished either through a recapitalization by way of an equity sale or an ICO, according to Karpeles.

He wrote:

"Launch an ICO to raise money to hypothetically revive MtGox. This sounds more challenging, both legally and because there is no guarantee of raising enough to revive MtGox. In case there is not enough raised it could still be locked to be distributed to creditors, which would be better than nothing."

And in a seeming acknowledgement that the idea is rather far-fetched at present, Karpeles suggested that anyone interested in recapitalizing the exchange should get in touch. "Should anyone have 245 million USD sitting around and want to purchase MtGox, just drop me an email," he wrote.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Will The Real Bitcoin Please Stand Up

Will The Real Bitcoin Please Stand Up

Too Many Cryptocurrencies?

For the past several months I have been positive on Bitcoin.  I have liked the fact that it rebounded from the China Crackdown that coincided with the Jamie Dimon – Bitcoin is a Fraud comment. Since then, I have argued that the launch of Bitcoin futures and even more importantly, Bitcoin ETFs, would drive further gains in the price of Bitcoin (and all major cryptocurrencies). Here we are with Bitcoin closing the week at over $7,700 (according to Bloomberg), which is just below its all-time high. The market has reacted well to all the news and it is clear that there are new adopters on a daily basis.  Not only will futures and ETFs help attract new interest, but it is clear that many firms have done a good job of making Bitcoin (and other cryptocurrencies) more accessible.

What is starting to concern me is the proliferation of cryptocurrencies.

Within Bitcoin you have the 'forks' that are creating potentially new paths. Then you have not only the existing 'major' cryptocurrencies like Ethereum, but it seems like there are new cryptocurrency launches on a daily basis, ranging from WhopperCoin to stories about Banks attempting to create their own cryptocurrencies.

Right now, the launches and the 'buzz' they are generating seems to have helped propel Bitcoin higher.

Can that continue, or will buyers get nervous that the market is too fragmented, which might limit the commercial value of any particular cryptocurrency, or worse, will the market get concerned that it is too easy to create ICO's and that is a sign of a bubble building?

For now, I think the growing adoption rate will outweigh those concerns,

but for those calling it a bubble – the list of bubble-like behavior is increasing. Right now, the launches and the 'buzz' they are generating seems to have helped propel Bitcoin higher. Can that continue, or will buyers get nervous that the market is too fragmented, which might limit the commercial value of any particular cryptocurrency, or worse, will the market get concerned that it is too easy to create ICO's and that is a sign of a bubble building?

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

The Next Frontier in Blockchain Technology: Scaling and Commercial Optimization

The Next Frontier in Blockchain Technology:
Scaling and Commercial Optimization

Every successful startup at one point or another faces a turning point

in its history. This turning point, whether a challenge, conflict, or opportunity, oftentimes becomes the defining moment for the startup’s leadership team. How will they respond? What steps need to be taken? What is the game plan to get from point A to point B? These questions are vital, and investors and board members demand answers. Blockchain technology, though not a startup in the traditional sense, is at its turning point. Prices are at or near all time highs, trading volumes are soaring, and the number of cryptocurrency users is growing at a tremendous rate. But these statistics don’t tell the full story.

With cryptocurrency prices rising and transaction volumes hitting peaks, the Achilles’ heel of Blockchains, scalability, is back with a vengeance. The problem essentially boils down to block size–blocks that are too big are automatically rejected by the network. As a result, transactions per second are limited to single digit numbers, or double digit numbers if the Blockchain is really fast. The problem is that this pales in comparison with traditional payment methods like Visa cards. If cryptocurrencies want to compete in the transaction world in a substantive way, something needs to be done.

Sensing this need, some companies are working on customizable operating systems that will establish commercial-scale platforms. The goal is to meet growing business demand through Blockchain technology, as well as provide a central hub for all Blockchains. The hope is that platform operating systems will lay groundwork for the development of new, scalable applications, and organizations like EOS, Grid, DASH, and Waves are aiming to do just that.

How Blockchain operating systems can address the scalability problem

By creating a multi-chain parallel processing infrastructure that fulfills certain requirements, companies could pave the way for greater Blockchain commercialization. The operating systems they are working on are comprised of a main chain and an indefinite number of side chains, allowing a platform to fulfil multiple goals while reducing data redundancy.

The architecture of the operating systems establishes a well organized “Central Business District.” In this business district each industry has its own dedicated side chain–a one to one scenario where specific issues and problems receive direct attention via the corresponding chain. The highly customizable platforms consist of one main chain, or kernel, that forms the minimum viable Blockchain. As the backbone of the operating system this main chain is used as the core from which custom operating systems can be developed. Developers can use the operating system to create specific configurations, providing adaptability that has so far eluded certain Blockchain projects.

So how does this all impact scalability? In essence, a Blockchain-based operating system creates different streams (side chains) which handle very specific tasks. As a result, the main chain isn’t bogged down by having to process transactions it isn’t built to handle. The abundance of chains means that the platform can process independent transactions at one time.

The operating system creates a scenario similar to adding four additional lanes on a one way highway. Drivers can accomplish the same end goal, arriving at their destination, but take a variety of lanes to get there. Traffic bottlenecks are less likely on a five lane highway than a one line highway In the same way, a Blockchain can accomplish its goal but take a variety of chains to do so. Side chains enable the main chain to operate as intended while also getting specialized tasks done.

Blockchain solutions for everyday life

The end goal for Blockchain-powered operating systems is to provide real world commercial solutions. In order to cope with increased transaction volumes, Blockchain companies are building infrastructures that allow companies to create scalable platforms. By allowing a Blockchain to have connected yet independent side chains, companies will find that they can create customizable solutions to meet their business demands.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Major ATM Manufacturer Integrates Bitcoin, Exposure to Millions of Users

Major ATM Manufacturer Integrates Bitcoin, Exposure to Millions of Users

South Korea’s Hyosung, one of the largest ATM manufacturers in
Asia, which also has its headquarters in Texas, has officially integrated Bitcoin into

its international ATM models.

South Korea's Hyosung, one of the worlds largest ATM manufacturers, which implemented #bitcoin support domestically years ago, has finally integrated #bitcoin into its international ATM model for retailers.

Importance of Hyosung’s Bitcoin integration

Since 2014 Hyosung has collaborated with leading Bitcoin service providers within the South Korean cryptocurrency industry such as the Tim Draper-backed Coinplug. For over three years Hyosung has enabled South Korean ATM users to buy and sell Bitcoin through tens of thousands of Hyosung ATMs, located at nearly every convenience store and subway station.

Through the Coinplug mobile app, Hyosung has allowed South Korean users to easily withdraw and deposit cash to sell or obtain Bitcoin, increasing the liquidity of Bitcoin for general consumers in the region. As seen in the photograph below, the efforts of Coinplug and Hyosung to transform many of the existing bank ATMs in South Korea to Bitcoin-supporting ATMs have led to an increase in mainstream adoption of Bitcoin. In the upcoming weeks Hyosung intends to roll out its full integration of Bitcoin into its international ATM models that will be shipped to supporting countries, such as the US and most European countries.

Benefits of Bitcoin supporting ATMs

Since 2016, most leading Bitcoin markets and their authorities have pressured Bitcoin exchanges and trading platforms to enforce strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to crackdown on illicit use cases of Bitcoin and other cryptocurrencies such as Ethereum and Litecoin.

Consequently, the process of account verification and updating daily or monthly limits of Bitcoin trading accounts has become significantly challenging. On most exchanges users are required to spend at least a few weeks to submit necessary documents including personal verification (IDs or passports), bank documents, and even conduct a face-to-face interview for maximum monthly limit upgrades. For large-scale traders and investors it is worthwhile to go through such a rigorous verification process to create trading accounts. For beginner users and casual investors however, Bitcoin ATMs are significantly simpler to use to buy and sell small amounts of Bitcoin.

Currently, major Bitcoin brokerages and exchanges such as Coinbase and Gemini are focusing on providing support for institutional and retail investors. Cointelegraph recently reported that Coinbase launched Coinbase Custody, a Bitcoin custodian platform for institutional investors planning to invest a minimum amount of $10 bln in Bitcoin. A handful of companies including Coins.ph of the Philippines, the largest Bitcoin brokerage in Asia with nearly 3 million active users, are working to provide services for general consumers and small-scale Bitcoin investors. In the long-term, the integration of Bitcoin into hundreds of thousands of bank ATMs globally would further increase the mainstream adoption of Bitcoin.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Bitcoin Price Achieves New All-Time High at $8,040; Bigger Surge in December?

Bitcoin Price Achieves New All-Time High at $8,040; Bigger Surge in December?

The bitcoin price has achieved a new all-time high at $8,040, within a week since it dipped below $5,600 on Sunday. Analysts expect the price of bitcoin to surge even further by the end of 2017, upon the entrance of institutional investors and retail traders through Coinbase, CBOE, Gemini, and CME.


Bitcoin Price Will Likely Surge Again in December

Earlier this week, CME Group announced that it will launch its bitcoin futures exchange approved by the Commodities and Futures Trading Commission (CFTC), to address the increasing demand from institutional investors and retail traders for bitcoin. Today, on November 17, Coinbase, the largest bitcoin brokerage and wallet platform in the world, introduced Coinbase Custody, another bitcoin trading platform for institutional and retail traders. On Coinbase Custody, large-scale investors can invest a minimum value of $10 million in bitcoin.

Brian Armstrong, the CEO at the $1.6 billion bitcoin startup Coinbase, stated:

“We already store billions of dollars worth of digital assets on behalf of our customers. We serve thousands of institutions via our GDAX product, the leading digital currency exchange in the U.S. We’ve raised $216M from venture capital firms and financial institutions like the NYSE/ICE, USAA, BBVA, Westpac, and MUFG. And we have approximately 200 employees working across our three offices in New York, London, and San Francisco with deep industry knowledge.”

Specifically, Armstrong noted that there exists approximately $10 billion in institutional money on the sidelines “waiting to be invested in digital currency.” If tens of billions of dollars flow into the bitcoin market throughout December and by mid-2018, the market valuation of bitcoin will surge substantially, likely to $200 billion in the short-term. Many institutional investors and high profile traders have invested in bitcoin over the past 12 months through a handful of investment vehicles including DCG’s GBTC and XBT Provider’s bitcoin exchange-traded note (ETN). Upon the launch of CME and CBOE bitcoin futures exchanges, along with Coinbase Custody, institutional investors will be able to invest in bitcoin with ease, by the end of this year.

Increasing Liquidity of Bitcoin

Already, bitcoin is far more liquid than the most liquid stock on earth in Apple. Bitcoin has a daily trading volume of around $5.8 billion, while Apple’s trading volume remains below $4 billion. Bitcoin’s daily trading volume is close to $6 billion without institutional and retail investors in the space. By December, the daily trading volume of bitcoin will be drastically higher.

In addition to the entrance of investors in the traditional finance sector, the adoption rate of major financial platforms is rapidly increasing. Most recently, $15 billion payments app Square integrated bitcoin into its mobile platform. Analysts expect more financial platforms to integrate bitcoin in the near future, as the market valuation of companies that have integrated bitcoin soared in a relatively short period. Square for instance, experienced a $1 billion increase in its market cap within a five day period, after integrating bitcoin.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Tezos, a cryptocurrency that raised $232 million in July, is in crisis

Tezos, a cryptocurrency that raised $232 million in July, is in crisis

One of the biggest cryptocurrency crowdsales
hasn’t lived up to the hype.

Tezos, a blockchain technology project that made headlines

in July by raising $232 million, has been hit with its second class-action lawsuit in less than a month. It's the latest blow for the project's founders, husband-and-wife team Arthur and Kathleen Breitman. The Breitmans promised to build a blockchain with a revolutionary new governance model that would avoid the kind of strife that has plagued the Bitcoin world over the last few years. Instead, Tezos itself has been engulfed in controversy since its fundraiser ended. The couple is locked in a bitter conflict with Johann Gevers, the man they picked to lead the Tezos Foundation.

The big question hanging over the Tezos project is whether its so-called initial coin offering violated US securities laws. Those laws require companies to register with the Securities and Exchange Commission (SEC) before they can offer securities to the public. The lawsuits argue that, legally speaking, the Tezos crowdfunding campaign was a sale of securities, and so the Breitmans broke the law by ignoring SEC rules. Of course, there would have been little reason to file lawsuits if the Tezos project were a smashing success. But the launch of the Tezos network is now months overdue. Anxious investors are starting to wonder if anything will come of their investment.

Tezos sold tokens on a network that didn’t exist

The Tezos project has lofty goals. In a 2014 white paper, Tezos founder Arthur Breitman argued that Bitcoin had a poor governance model. The network depends on everyone following the same set of rules, and those rules aren't easy to change—a problem that has become increasingly obvious over the last three years. Breitman wanted to solve this problem by developing a blockchain protocol capable of modifying its own rules. The Tezos protocol has multiple layers, with a low-level "network shell" providing generic blockchain functionality but leaving most of the important decisions to higher levels of the stack.

Tezos is supposed to have built-in mechanisms for modifying the rules of these higher-level functions. A Tezos user can propose a modification to the rules, which can be accepted or rejected by other users. In theory, this should make the network much more flexible than conventional blockchain networks. The big problem is that the Tezos network doesn't exist yet. People who bought into the July presale were buying the right to receive units of the Tezos currency once the network became operational.

And the lawsuits charge that the Breitmans misled investors about how long that would be. In a May blog post, Arthur Breitman wrote that "all of the functionality described in the whitepaper has been implemented to this date, except for gas metering." The big remaining tasks, he said, were "finishing a security addition," "optimizing smart-contract storage," and "testing our network on a large scale and performing external security audits."

In his May post, Breitman predicted the Tezos network would be up and running "in a three- to four-month period." He said it might take as long as six months to finish, though he added that "Based on my assessment of the remaining development that does not seem likely, but it's not impossible."

That was written almost six months ago. The Breitmans now say that they expect to launch the network next February, and they acknowledge that it could take even longer. The Tezos organization itself has been plagued with infighting. The Breitmans chose to conduct their fundraising through the Tezos Foundation, a non-profit entity that they helped to set up in Switzerland. (As Kathleen Breitman put it, Switzerland has "a regulatory authority that had a sufficient amount of oversight but not like anything too crazy.")

Legally speaking, a Swiss non-profit organization is supposed to be independent from commercial interests, so the Breitmans tapped Gevers, a Swiss engineer, to run the Tezos Foundation. Meanwhile, the Breitmans have no formal role in the foundation's management, but they've been able to exert plenty of informal pressure. Gevers says the couple hasn't relinquished control over the group's tezos.ch domain name. The Breitmans have accused Gevers of self-dealing and have attempted to oust him in a boardroom coup. They've encouraged other board members to re-organize the foundation and delegate key functions to a subsidiary that would be under the Breitmans' control.

But Gevers is having none of it. He insists that he has an obligation to maintain the foundation's independence and safeguard the hundreds of millions of dollars in cryptocurrency entrusted to him by Tezos users. (We've asked both Breitmans and the Tezos Foundation for comment and will update if we hear back.) For now, investors' money—which has swelled in value as the value of bitcoin and ether has continued to rise—is managed by the foundation. The plan is for the foundation to acquire the Breitmans' for-profit company after the company develops and launches the Tezos network. Only then will users get their allocations of Tezos cryptocurrency—something that might not happen for months, even after the network is officially launched.

Tezos claimed investments were really donations

People who bought into the Tezos presale were buying the right to acquire Tezos currency in the future, once the network became operational. Plaintiffs say this is evidence that the pre-sale was really a stock offering, little different from a corporate IPO. US law requires anyone who offers stock to the public to register with the Securities and Exchange Commission. The Breitmans didn't do that.

Instead, they tried to skirt those requirements by describing investors' purchases as donations to the Tezos Foundation. But the lawsuit argues that this was a sham. Even the Breitmans themselves didn't really seem to believe it. "What we're going to do is allow as many people who want to buy into the crowdsale over a two-week period," Kathleen Breitman told Reuters in May. When Reuters asked Tim Draper, one of the biggest early investors in Tezos, how much he "donated" in the fundraiser, he responded, "You mean how much I bought? A lot."

The US Securities and Exchange Commission is charged with enforcing securities laws. So far, the agency has enforced the rules with a light hand. In July, days after the Tezos fundraiser had ended, the SEC ruled that a 2015 fundraising effort called the DAO had violated securities laws. But the SEC decided not to press charges in that case, merely warning that future crowdsales could get their organizers in legal hot water. But disgruntled Tezos investors aren't waiting for the SEC to crack down on Tezos. They're filing their own lawsuits based on the project's alleged violation of securities laws. Both lawsuits against Tezos point to SEC statements warning that unregistered ICOs could run afoul of securities laws.

"If it walks like a duck, and it quacks like a duck, it's a duck," this week's lawsuit argues.

The stakes are high for the Breitmans. If they lose the lawsuit, they could be forced to return the money they raised in the crowdsale, and they could face further action from the Securities and Exchange Commission. But the case could also have broader significance for the cryptocurrency world. Tezos was one of the most successful coin offerings conducted in 2017, but there have been many others like it. Most of them have not registered with the SEC, and others have offered the public tokens on networks that haven't been created yet.

If the courts decide that Tezos violated securities laws, it could put many of this year's other ICOs in legal jeopardy. The SEC hasn't begun prosecuting anyone in the cryptocurrency world for violating securities laws, but it could start doing that at any time. And a court ruling against Tezos could put pressure on the SEC to act.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

‘Is It Real?’: Square CFO Speaks Out on Cash App Bitcoin Trial

'Is It Real?': Square CFO Speaks Out on Cash App Bitcoin Trial

Sarah Friar, CFO of payments firm Square,

has filled in some of the detail on why the company has launched a bitcoin pilot scheme. Revealed yesterday, Square's mobile payments product, Cash App, is now allowing a limited number of users to buy or sell bitcoin within their accounts.

Talking to CNBC, Friar explained:

"You're talking about it, it's out there, and so we want to do an experiment and say, OK, is this real? Do customers actually want to be able to do this?"

Friar noted that customers often feed back desired features in Square's products, and that some using Cash App to make payments have requested an "easy way to buy and sell bitcoin." Arguing that the fastest way to get moving with new trends is to build innovations around them, Friar said, ultimately, risks have to be taken – citing the example of early days of internet or the cloud as examples. While future developments with bitcoin are uncertain, she added, "as an innovator" Square has to give customers what they want.

Overstock finds cryptocurrency
is most popular in Alaska, with Delaware close behind

  • Overstock accepts about 50 different types of cryptocurrencies.
  • Overstock's top states by percentage of purchases in cryptocurrency are: Alaska, Delaware, Oregon, Wyoming and Hawaii
  • Because cryptocurrencies don't rely on banks it may make them more popular among libertarian-minded people, Overstock board member Jonathan Johnson
     

     

     

     

     

     

The states driving most of Overstock's purchases via cryptocurrency

aren't your typical tech havens. The top five states for cryptocurrency purchases are Alaska, Delaware, Oregon, Wyoming and Hawaii have , the company told CNBC. Overstock got this statistic by looking at the percentage of overall revenue from each state that came from cryptocurrency purchases. (Absolute cryptocurrency revenue is highest in the most populous states — California, New York, Texas, and Florida.)

Overstock began accepting its first cryptocurrency, bitcoin, in 2014. Today it allows payment from about 50 different cryptocurrencies. The company does about $300,000 worth of sales through cryptocurrency each month, said Overstock board member Jonathan Johnson. "We saw from the 2013 banking crisis is Cyprus that bitcoin was a good store of value and could act as a currency," said Johnson. "We like the pro-freedom aspect of Bitcoin." (Johnson is also the president of Overstock's Medici Ventures division which invests in blockchain technology companies.)

People paying with cryptocurrency don't buy anything drastically different from other customers. However they do tend to be male and buy twice as much as those paying with regular currency, Johnson said. Because cryptocurrency does not rely on banks or government-issued currency, it's popular among libertarians and others who distrust government intrusion and big institutions, Johnson said. It also may allow Overstock to expand in areas where many people don't have bank accounts, like Africa.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

How High Bitcoin Could Reach Before The Average Investor Sells It?

How High Bitcoin Could Reach Before The Average Investor Sells It?

How high Bitcoin prices could reach

before the average Bitcoin investor sells it? Very high, $196,165 per coin – roughly 30x the digital currency’s current value. That’s according to a just published LendEDU Bitcoin investor survey. “Believe it or not, that number and statement is true according to our polling data,” says Michael Brown Research Analyst with LendEDU. The survey included 564 Americans that invested in Bitcoin. That's a tiny sample, and therefore, the survey findings should be interpreted with extreme caution.

What will it take to reach that price? A world where Bitcoin, the “people’s currency,” will gradually replace national currencies in everyday transactions, with the help of the tech savvy younger consumers. “These investors could envision Bitcoin reaching that price with the help of time and younger consumers developing more of an affinity with virtual currencies, specifically Bitcoin,” adds Brown.

This digital world, in turn, will draw in older investors, who have yet to be sold on the idea of the Bitcoin’s potential. “As it stands today, the price of cryptocurrencies is rising rapidly yet many of the most influential, older investors are still not sold on Bitcoin and believe it will collapse,” continues Brown. “Just imagine when younger Americans develop more spending power and attempt to bring Bitcoin into the forefront of the U.S. economy? At that point, the price of Bitcoin will skyrocket.”

How long that will it take? Perhaps, a generation. “Jumping from the current price of $7,237.06 to something even remotely close to $196,165 would have to involve a generational transfer of economic power, meaning young consumers would need time to build their wealth and establish their presence in the U.S. economy to bring Bitcoin into the mainstream, much more so than it already is.”All that sounds like a day-dream that it is extremely unlikely to come true. The technology that made Bitcoin will crush it, provided that big banks and big governments don’t crush it ahead of technology, as was previously discussed here.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.
Interested or have Questions. Call me 559-474-4614

Ecosystem for all Entrepreneurs