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Speaking about Facebook Libra, the twins, who co-founded cryptocurrency trading platform Gemini, said it was only a matter of time before other tech giants followed suit.
FANG refers to the unofficial “Big Four” of the internet: Facebook, Amazon, Netflix and Google. “Our prediction is every FANG company will have some sort of cryptocurrency project within the next two years,” Tyler told the network.
Libra as a payment protocol has not yet launched, but regulators have voiced alarm, particularly in the United States, where several sources have demanded developers halt the project.
Concerns stem from Libra’s potential to bypass the banking system, something cryptocurrency proponents conversely argue makes the banking establishment overly nervous about losing revenue.
On Thursday, Bitcoin (BTC) itself shed over 10% of its value after a senior U.S. lawmaker delivered fresh concerns about Libra.
For the Winklevosses, however, front-door approaches to regulators is key in getting any disruptive finance offering to market.
Though many say it is not a cryptocurrency at all, the twins even suggested they would facilitate trading of Libra on Gemini, should it be open and not subject to prohibitive restrictions. “We’ll evaluate Libra in earnest, and it might actually be an asset that is one day listed if it’s an open protocol; that’s possible,” Tyler continued.
Earlier this week, Tom Lee, a serial Bitcoin advocate, delivered a similar forecast regarding tech giants’ future involvement in the digital currency industry. “The fact that Facebook and likely other FANG companies are going to create their own digital currencies is validating the idea that digital money is here to stay,” he told CNBC.
Still think Bitcoin is a passing fad? Here’s a news flash for you. At $8,940, it’s bigger than Russia’s monetary base. That makes Bitcoin the eighth largest currency in the world. And the price keeps on climbing…
If you don’t count gold and silver, Bitcoin is now the eighth largest currency in the world. It comes in at 10th place after the two precious metals.
How significant is this? Well, with a market cap currently at $162 billion and with some analysts predicting a BTC value of over $40k by the end of 2019, after just 10 years of being created, it’s a pretty big deal indeed.
Bitcoin is already bigger than the base money of Russia, South Korea, Brazil, Canada, and Norway. With cryptocurrency adoption on the rise around the world, it won’t be long before it catches up with–and overtakes–the monetary base of India, Switzerland, the UK, and, yes, the United States as well.
When it comes to a country’s monetary base, however, that is measured in terms of the total amount of currency in circulation or held in commercial deposits in the central bank, not in its gold reserves.
With its $25 billion dollar debt, it’s no surprise that despite being the world’s largest economy, the U.S. lags in fourth place behind Japan, China, and the Euro Zone when it comes to base money.
Do you treat your stash of Bitcoins as currency or as an investment?
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#EURJPY Over 89 client's on this trade today......Must be doing something right?
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Netflix is hosting a show which will discuss not the king of the market, Bitcoin, but all of the other knights of the round table.
Not to anyone’s surprise, but most people still do not know very much about cryptocurrency. In general, the average person can recognize the name Bitcoin and quickly associate it with drug trafficking, money laundering, and a scams. The general population needs to be more educated on the subject matter, so they are not taken advantage of.
On the documentary there are plenty of very popular developers, founders and industry celebrates that will be shown. Each person getting interviewed will get to share their opinion on the market and different perspective as well. This will be great to have so many voices all representing the same movement. Some of the more noticeable individuals featured will be:
Vitalik Buterin (Ethereum Founder)
Jihan Wu (Bitmain Founder)
Justin Sun (Tron Founder)
Yi He (Binance Founder)
Charles Hoskinson (Cardano Founder)
Sunny Lu (VeChain Founder)
Jun Hasegawa (OmiseGo Founder)
Da Hongfei (Neo Founder)
Roger Ver (Bitcoin Cash Founder)” Do you own any altcoins or know what an altcoin is?
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The Gemini cryptocurrency exchange has just announced that it will open new offices in Chicago, Illinois. The trading venue’s co-founder claims that institutional interest in the crypto asset class is driving the expansion move.
According to a Medium post penned by Gemini co-founder Tyler Winklevoss, the company will be expanding to the financial hub that is Chicago. The move is in line with the Winklevoss twins’ ongoing mission to help “build the future of money.” The new offices in the financially significant city will provide an engineering hub, as well as support to the firm’s offices in Portland, Oregon and its headquarters in the heart of New York City. In the post, Tyler details why Chicago was chosen. Citing the city’s long financial legacy, intertwined with the history of commodities markets, the exchange co-founder calls the metropolis “a financial powerhouse.” With such a deep tradition of trading in the city, Gemini will have no shortage of talent from which to hire professionals to help craft their vision of the future of money.
Despite not being mentioned explicitly, Chicago is also home to both the CME Group and the Chicago Board Options Exchange – two significant names in the ongoing Bitcoin saga. The two exchanges were some of the first to offer Bitcoin futures.
Do you think institutional interest will turn crypto into a trillion dollar market?
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A billionaire is willing to buy as high as 25 percent of Bitcoin’s current circulating supply and has tasked a broker company, Dadiani Syndicate to make the purchase possible. Eleesa Dadiani of Dadiani Syndicate also revealed that a number of people are interested in buying Bitcoin in large amounts through the company, according to Forbes report on May 30, 2019.
Per the report, someone out there believes that they can afford 25 percent of Bitcoin’s circulating supply and as such, they are willing to make it their very own. At 25 percent, that would mean 4.4 million Bitcoins out of about 17 million that are currently in circulation. The potential buyer has, therefore, instructed Dadiani Syndicate to scour the market in order to lay hold of coins.
Dadiani Syndicate, the broker company in question, was created to help people to liquidate their crypto assets to real wealth through the use of art dealership methods. However, people are more interested in amassing Bitcoin in a bid to control a larger share of the market.
According to Eleesa Dadiani, a number of clients wish to dominate the market and they usually ask for their assistance in buying enormous amounts of Bitcoin. She also hinted that they are majorly interested in Bitcoin instead of other cryptocurrencies.
Wealthy individuals, institutional investors, etc. are gradually dipping their feet into the crypto space. The likes of Bakkt and Fidelity Investments are trying to create products that will attract wealthy individuals into the crypto space.
Do you think billionaires are interested in crypto as an investment vehicle?
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Close to $7 billion worth of bitcoin has moved on-chain in the past 24 hours, with 1.3 million bitcoin exchanging hands or changing addresses.
More than a quarter of a billion dollars has been on the move every hour, with the average transaction value standing at $22,000, while the median is at $100.
Meaning about as many transactions were worth less than $100 as more.
The 100 largest transactions moved about $850 million, or 165,000 bitcoin, just over 10% of the entire transfers.
This might suggest the majority of transactions are not exchanges or other large entities, but ordinary individuals using bitcoin in commerce, for international transfers, or to exchange value.
Why, is not very clear, but bypassing sanctions could be one use case here just transferring value internationally without going through the banking system.
Speculation obviously is another aspect and some of this $7 billion of on-chain transfers is probably just trading Over the Counter or otherwise, but there’s also a significant amount of economic activity.
Do you think this is the case of some Bitcoin whales moving their wealth?
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TRON CEO Justin Sun is on a mission to bring social change. "It all stems from TRON’s Vision. Our network isn’t a means for individuals or institutions to gain short-term profit; it was built to make the internet decentralized again. This mission itself is not profit-seeking, but rather aims to give rights like data privacy and transparency back to the user—rights that inherently belong to and benefit the people." Justin Sun recently made headlines with a $3 million donation to the Binance Charity Foundation (BCF) —— Do you think Tron will be successful at forming a decentralized internet?
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In a press release issued on June 13, 2019, crypto payments firm CLIC Technology Inc. announced a partnership with B2B blockchain infrastructure company Opporty to jointly develop an in-browser extension that would enable customers to make purchases from Amazon with the ether (ETH) cryptocurrency.
Amazon customers will soon be able to pay for items using ether, thanks to a strategic partnership between two distributed ledger technology (DLT) startups.
Based on the Plasma Cash design pattern for off-chain processing of on-chain assets, the proposed in-browser app will help foster a crypto-powered economy among the masses.
For the uninitiated, the concept of Plasma Cash was unveiled last year by Ethereum co-founder Vitalik Buterin. In a way, it could be considered Ethereum’s answer to Bitcoin’s Lightning Network.
At present, payment platforms built on the Ethereum network can handle, on average, about 20 transactions per second, which is far less than what one would expect from an enterprise-grade financial systems solution. To put things in perspective, Amazon processes more than 300 transactions per second.
However, with Opporty’s Plasma Cash, CLIC Technology is confident that not only will it be able to process a larger number of transactions per second but also dramatically reduce the processing weight on the network. The throughput of the Plasma Cash-enabled extension could rival that of Mastercard and Visa, the release notes.
Roman Bond, the CEO of CLIC Technology, commented on the development saying: “Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries. We’re excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well.“ Would you shop on Amazon using crypto?
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