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Bitcoin Cash Network Status: Transactions On the Rise

December 3, 2017 |

Bitcoin Cash Network Status: Transactions On the Rise

The Bitcoin Cash network is trucking along as the blockchain is currently finishing up its fourth month of existence. As more adoption and infrastructure support has been added to the BCH network over the past few months, many bitcoin cash supporters are optimistic about the cryptocurrency’s future.

Also read: How to Protect Your Bitcoin and Your Privacy When Passing Through Customs

The Bitcoin Cash Network Sees Improvement With the DAA Upgrade As BCH Transaction Percentages Rise

Bitcoin Cash Network Status: Transactions On the RiseThere have been over 28,000 blocks mined since the hard fork this past August that had produced the nascent network bitcoin cash. The blockchain has been doing quite well since the development community hard-forked the BCH network on November 13 which fixed the cryptocurrency’s Difficulty Algorithm Adjustment (DAA). Since then erratic block time intervals have ceased and mining profitability between the BCH and BTC chains has leveled out, remaining consistent over the past two weeks.

Bitcoin Cash Network Status: Transactions On the Rise
Bitcoin Cash profitability against the legacy chain leveled out since the November 13 hard fork.

At the moment the BCH chain is operating at 12.47 percent of the legacy chain’s difficulty, and at the moment it’s only 3.3 percent more profitable to mine BTC. Bitcoin cash transactions have also been steadily rising as the BCH network transaction rate is gradually increasing in number every week. Additionally, next year according to the Bitcoin ABC development team’s midterm roadmap, developers plan to fix the BCH address format and possibly even raise the protocol’s 8MB base block size again.

Markets Consolidate After Last Week’s Crypto-Market Dip

Bitcoin cash markets have been down since the currency’s recent highs, but are doing well today as the price per BCH is up 1 percent at roughly $ 1,440 per token. The digital asset took a hit when all cryptocurrency markets dove roughly 72-hours ago. Although, BCH markets still command the third position as far as market capitalization is concerned. Further BCH trade volume is averaging around $ 650-700M every 24-hours for the past few days. Right now the Korean won has stepped down as the number one currency by volume trading BCH, as traders are using far more BTC/BCH pairs at the moment. BTC represents 46 percent of the BCH global trade volume as the Korean won now captures only 28 percent. The top five exchanges trading bitcoin cash this week include Bithumb, Hitbtc, Bitfinex, Okex, and Binance.

Bitcoin Cash Network Status: Transactions On the Rise
At press time the price per BCH is US$ 1,445

New Infrastructure & Support

As far as bitcoin cash infrastructure is concerned the BCH ecosystem got more business support this week. For instance, the Indian-based cryptocurrency wallet provider and exchange Zebpay is launching BCH support shortly. Zebpay says they are actively working to add new digital assets and bitcoin cash will be integrated with ethereum, ripple, and litecoin. The organization released a bitcoin cash blockchain explorer this week, and the software developer Chris Pacia showed a screenshot of Openbazaar’s BCH integration as well. Moreover, last week reported on The Bitcoin Cash Fund reaching its funding goal. Now the nonprofit organization created to bolster BCH projects and adoption has launched its website this week.

Bitcoin Cash Network Status: Transactions On the Rise
A screenshot of the Openbazaar application with bitcoin cash integration.

Bitcoin cash supporters seem very optimistic about the future with its growth and support over the past four months. In addition to the latest developments, the BCH community got a surprise on the same day CME Group and Cboe announced their new bitcoin-based futures offerings. Cboe’s president this week also hinted that ethereum and bitcoin cash futures products may be produced during the initial announcement.

What do you think about the bitcoin cash ecosystem’s past four months? Let us know in the comments below.

Images via Shutterstock, Twitter, Crypto Compare, Bitinfocharts and Coin Dance. 

Need to calculate your bitcoin holdings? Check our tools section.

The post Bitcoin Cash Network Status: Transactions On the Rise appeared first on Bitcoin News.

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Record ICO Tezos Founders Seek Bail-Out From Foundation

December 3, 2017 |

Tezos Founders Seek Bail-Out From Foundation

Following mounting lawsuits, the founders of Tezos are seeking for their legal costs to be covered by the Swiss-based foundation tasked with managing the funds generated through the company’s ICO (initial coin offering). If successful, the Tezos founders will be using the funds of the very ICO participants that sued the company to pay for their legal expenses.

Also Read: Half a Billion Dollar ICO Tezos Stung by Second Lawsuit in Under a Month

Tezos Founders Seek Investor Funded Bail-Out to Cover Legal Costs

Tezos Founders Seek Bail-Out From FoundationArthur and Kathleen Beitman, the founder of the Tezos project, now faces three class action lawsuits in the United States. Tezos raised approximately $ 232 million USD through its ICO in July, however, following a dispute between the project’s founders and the Swiss-based foundation established to manage the raised funds, has failed to develop the project and distribute tokens to investors. The company has since been dealt a series of class-action lawsuits alleging that Tezos has violated U.S. federal securities laws and ultimately defrauded participants. At the time of the ICO’s completion, Tezos had set the record for the largest sum of money raised through a single initial coin offering.

Reuters has reported that the Breitman couple wishes to access the foundation’s funds in order to cover their legal costs. Although the Breitmans have recently refused to answer questions on the topic, Georg von Schnurbein, co-author of a book on the topic of Swiss foundation governance, has weighed in on the issue.

“In My Opinion, There Is No Reason for That Because Their Activities Were Connected to Their Delaware Company, Not to the Foundation” – Georg Von Schnurbein

Tezos Founders Seek Bail-Out From FoundationMr. Schnurbein states that “because the lawsuits have nothing to do with with the foundation[‘s] purpose,” the foundation’s board members could run afoul of Swiss regulators – should the Tezos foundation foot the bill for legal costs. The contractual agreement between DLS the Tezos foundation dictates that the Swiss federal supervisory authority for foundations will be required to approve the Breitmans’ wishes – however, Reuters reports that a spokesman for the department tasked with overseeing the relevant authority has stated that “It is not the Foundation Authority’s task nor its responsibility to approve private law agreements.”

Kathleen Breitman has previously sought to depict investing in the Tezos ICO as being akin to making a donation to a fundraising drive and receiving a tote bag, suggesting that the couple may hope to evade securities regulations. According to Stephen Palley of the corporate law firm Anderson Kill, however, the contractual agreement indicates that Tezos’ ICO will likely be subject to securities law. “This weakens the argument that tokens were a discretionary gift, akin to a tote bag given to people who donate to a public radio fundraising drive,” Mr. Palley stated.

What are your thoughts on the Tezos founders’ desire to access the foundation’s funds in order to pay for legal costs? Share your response in the comments section below!

Images courtesy of Shutterstock, Tezos

At all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

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Trading Column `The Writing on the Wall´– Futures are Almost here, Is This the Right Time to Buy?

December 3, 2017 |

Trading Column `The Writing on the Wall´– Futures are Almost here, Is This the Right Time to Buy?

This post is the second in a trading tips series called ’The Writing On The Wall’, in which our game theory guide Eric Wall tries to anticipate market signals. This week’s focus is on timing your bitcoin investment and when it might be the best time to buy.

Also read`The Writing On The Wall´ says “Sell Bitcoin Gold”

Is it a Good Time to Buy Bitcoin?

The price of bitcoin has risen +938% this year so far. What’s new for 2017 are the signs of institutional capital finally finding its way into the cryptocurrency market through various means (1,2), but we’re nevertheless also seeing an unprecedented influx of retail investors, with Coinbase adding roughly 50,000 users per day as of late. Many new speculators have been watching bitcoin from the sidelines for some time and are now warming up to the idea of finally taking the leap. But, given the tenfold increase bitcoin has already enjoyed this year, it is of no shock that the most echoed concern from these users is whether or not it really is a good time to buy right now.

In this article, I will do an analysis of the current market situation in bitcoin in order to try to answer that question.

First, we need to establish some time-frames on which the question is supposed to be evaluated. Essentially, what the question “Is it a good time to buy?” really is asking is whether or not there’s a good chance that there will be an even better buying opportunity presenting itself in the future. As such, I will analyze the prospect of that happening on three time-frames of different lengths.

The Writing On The Wall #2 - Should You Buy Bitcoin Right Now?

1 month (December)

In December, the most crucial event taking place in terms of the bitcoin price is by all accounts the 18 Dec launch of cash-settled bitcoin futures on the Chicago Mercantile Exchange (CME). The CME is the world’s largest derivatives exchange, and is connected to hundreds of brokerage firms from all over the world. Its futures are traded by hedge funds, trading firms, portfolio managers, hedgers, individual traders and market makers, who collectively account for trading volumes of roughly 20 trillion USD on a daily basis. With the introduction of bitcoin futures on the CME, the global economy will gain access to exposure to bitcoin, and bitcoin will gain exposure to the global economy.

The introduction of bitcoin futures on the CME will doubtlessly impact the market in several ways. I contend that the largest impact that the futures will have on bitcoin is the impact on its legitimacy and its liquidity.

Legitimacy: One of the main reasons why the Winklevoss ETF was rejected was due to the fact that the majority of bitcoin trading volume occurred on unregulated exchanges which lacked surveillance and the controls necessary to prevent market manipulation in the eyes of the SEC. Moreover, Bitcoin still carries the taint from its Silk Road days, and is still seen by some as a tool for narcotics trafficking and money laundering. In fact, many large funds still consider bitcoin an un-investable asset solely based on these associations. The CME futures mark what I believe will turn out to be a historical turning point of colossal magnitude in terms of the acceptance for bitcoin and its legitimacy as an asset class.

The Writing On The Wall #2 - Should You Buy Bitcoin Right Now?

Liquidity: Liquidity is one of the most important strengths of any currency as it is rudimentary both to its medium-of-exchange and its store-of-value properties. For the average investor this is not often a noticeable issue, but for an institutional investor the property of being able to enter and exit an asset without moving the market is one of the determining factors in whether or not the asset is investable at all. Even though the CME futures are cash-settled and act more as bets on the price of bitcoin than trading of the actual asset (as with spot markets), futures and spot market prices are tethered to each other through arbitrageurs and professional market makers, and thus benefit from each other.

Combined, these two factors of increased legitimacy and liquidity contribute to the fact that the introduction of CME futures is–broadly speaking–a very big positive for bitcoin in the long term. Based off of that alone, we should be able to expect a continuation of the current positive trend throughout December.

But, while the CME futures are a net-positive for bitcoin, one needs to look at the broader picture in order to fully understand the short-term impact of this event. As outlined in my introduction post on market memeology, the price is currently being aggressively driven by the “Get in before Wall Street!”-meme from retail investors. On December 18th, that meme comes to an abrupt end. Although the CME is not technically Wall Street, the idea of getting in before institutional capital does vanish on that date. And while I have some insight that the interest from institutional investors is real, my assessment is that most are still warming up to the idea rather than sitting with their fingers on the trigger waiting to buy as soon as the futures launch. As such, unless a new bullish meme preemptively picks up the baton before this one fades, a better buying opportunity than the current one may indeed present itself around this date.

The Writing On The Wall #2 - Should You Buy Bitcoin Right Now?

6 months

Historically, bitcoin price rallies have been accompanied with large pullbacks. There has never been an extended period of time in which bitcoin was not subject to some scandal, controversy. Euphoria is well-known to oftentimes turn into desperation in this market. There is no way to be sure that this won’t happen again during the coming six months. At the same time, there is neither any guarantee that it will happen, nor any guarantees what the price may be when it does. Additionally, knowing when to enter during a falling market is equally difficult. When the price is falling tremendously, there is usually some horrifying news circulating which makes one hesitant of buying bitcoin at all. By the time those fears have dissipated and bitcoin looks like a good investment again, the buying opportunity may have vanished.

To be blunt, if you want to know whether bitcoin is a good short-term investment at $ 11,000 right now, the answer is no. Going in now and expecting the price to be $ 20,000 within six months following a YTD +938% price increase is nothing more than a gamble. Any investment into bitcoin needs to have a longer investment horizon than 6 months.

2-3 years

Simply put, bitcoin is on the path of becoming digital gold and the soundest form of money this world has ever seen. In an objective comparison between the properties that makes gold valuable and the properties of bitcoin, bitcoin is superior to gold in the same way that e-mail is superior to mail. The only thing that bitcoin needs to compete with gold is legitimacy, which it is gaining very rapidly. One year ago, the value of all the bitcoin in the world was 0.15% of the value of all the gold in the world. Today, that number is 2.3%. If you, like me, believe that that number will turn into 100% in 3-5 years, then bitcoin is a very good investment right now. What new investors need the most is not luck in timing the market, it is knowledge of bitcoin and how it is solving the problems it is solving.

Dollar-cost averaging

Dollar-cost averaging is an investment strategy for entering the market by buying with smaller amounts over a period of time. Instead of investing a lump sum right way, you can divide the sum in to three or five smaller sums and invest it over the course of a few weeks or a few months. This strategy is recommended for new investors who struggle with the idea of buying at the top of a perceived bubble, since it will limit the probability that they’re buying at the absolute worst moment. However, empirical evidence show no superiority of dollar-cost averaging compared to a lump sum investment (in fact, the data suggests the opposite). Still, this can be a good investment strategy for traders who are nervous about their timing.

The Writing On The Wall #2 - Should You Buy Bitcoin Right Now?

Final words

Buying bitcoin right now with a short-term investment horizon in mind is not a wise move, but as a long-term investment it can still be an extremely good bet if you turn out to be right. There may be some more advantageous buying opportunities in the short to mid-term than the current moment, but timing the market is difficult. Bitcoin is in a very bullish trend that comes accompanied with retail user growth and acceptance by the traditional world of finance. There are no particular signs of that stopping in the coming months, and no signs that bitcoin as an asset is currently overvalued.

Are you investing right now for the short or long term in bitcoin? Are you not investing at all? Let us know in the comments section below.

Disclaimer: Bitcoin price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images courtesy of Pixabay.

Need to calculate your bitcoin holdings? Check our tools section.

The post Trading Column `The Writing on the Wall´– Futures are Almost here, Is This the Right Time to Buy? appeared first on Bitcoin News.

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Bitcoin-Related Job Postings Have Spiked on Linkedin and Upwork

December 3, 2017 |

Bitcoin-Related Job Postings Have Spiked on LinkedIn and Upwork

The number of jobs relating to bitcoin and cryptocurrency on Linkedin and Upwork has grown significantly in recent years. Both platforms report an increase in the listing of skills relating to cryptocurrency and blockchain technology by several hundred percent.

Also Read: Meme Chart Mania: Is This the Tip of the Iceberg or Have We Already Hit Peak Bitcoin?

Linkedin Reports a More Than 500% Increase in the Listing of Skills Pertinent to Cryptocurrency

Bitcoin-Related Job Postings Have Spiked on LinkedIn and UpworkThe majority of the job listings pertaining to the cryptocurrency industry on Linkedin are for the software industry – with Bloomberg reporting that such comprises approximately 70% of all crypto-related listings. Crypto-based positions in the software industry are continuing to proliferate, with the number of such listings in the software industry comprising a 460% larger share of total listings in the sector than three years ago.

The industry with the largest growth in crypto-related job listings in the financial services industry – with the share of total listings on LinkedIn pertaining to cryptocurrency in the financial services industry having grown by roughly 900% during the last three years.

In recent years, bitcoin has emerged from the throes of niche status to attaining increasing mainstream adoption. LinkedIn reflects this trend, with the social media network noting that there are 28 times the number profiles that cite skills pertaining to cryptocurrency than four years ago, with 550% more people boasting specifically bitcoin-related abilities.

Upwork Has Reported a More Than 2500% Increase in Billings Relating to the Blockchain Industry

Bitcoin-Related Job Postings Have Spiked on LinkedIn and UpworkCNBC recently reported on the increasing trend of students from elite business school transition towards exploring career opportunity in the cryptocurrency and blockchain industries. The article states that popular freelancing platform Upwork witnessed blockchain-related skills become the second most rapidly growing sector on the website during the third quarter of 2017. Upwork is also reported to have seen a 2,625% increase in the number of freelancer billings for work relating to the blockchain industry when compared with 2016. The article also states that Stanford University plans to launch a detailed course covering cryptocurrency and blockchain technology.

The data from LinkedIn and Upwork adds to a growing body of data evidencing bitcoin’s move towards the early majority stage of adoption. Forbes recently published an article title “It’s 1994 in Cryptocurrency” – a reference to analogous characteristics shared by the present cryptocurrency industry and the early stages of the internet boom of the 1990’s. Forbes’ article asserts that global adoption of cryptocurrency is currently estimated at 0.5% of the total population – double the 0.25% of consumers that had an internet connection in 1994.

Do you think that bitcoin is on the cusp of mainstream adoption, or is cryptocurrency still a nascent phenomenon? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, LinkedIn, and Upwork

At all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.  

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Proposed U.S. Legislation May Criminalize Those Who Conceal Bitcoin

December 3, 2017 |

Proposed U.S. Legislation May Criminalize Those Who Conceal Bitcoin

Last week on November 28 a revision was made to the U.S. bill S.1241 called “Modernizing AML Laws to Combat Money Laundering and Terrorist Financing.” During the U.S. Senate committee hearing, the bill’s words and the representatives bolstering the proposed law amended a critical definition of what a ‘financial institution’ is within the suggested statutes.

Also read: Two U.S. Senators Submit a Bill to Investigate Digital Currencies

Bill S.1241: Amending the Definition of a Financial Institution

Proposed U.S. Legislation May Criminalize Those Who Conceal Bitcoin
U.S. bill S.1241 is sponsored by Senator Chuck Grassley of Iowa and Senator Diane Feinstein of California. has reported on bill S.1241 multiple times since the proposed law was introduced by U.S. bureaucrats back in June. According to The Satoshi Revolution author, Wendy McElroy, the bill is a “pit bull assault on bitcoin freedom.” Now, this week without causing much attention, the U.S. Committee of the Judiciary members gathered to discuss digital currency implications towards AML/KYC regulatory guidelines. However, during the meeting, it is clear from the recorded video that the words “financial institution” will be amended to cover a much broader definition.   

Instead of utilizing the definition of a ‘financial institution’ which includes business models like banks and credit unions, S.1241’s amendment in Section 5312(a) of title 31, United States Code states that the definition now includes, “an issuer, redeemer, or cashier of prepaid access devices, digital currency, or any digital exchanger or tumbler of digital currency.”

Proposed U.S. Legislation May Criminalize Those Who Conceal Bitcoin
U.S. bill S.124, “Modernizing AML Laws to Combat Money Laundering and Terrorist Financing.”

‘Criminalizing’ the Concealment of Digital Currencies

Moreover, during the hearing Senator Feinstein explains the bill “criminalizes intentionally concealing ownership or control of a bank account.” This includes concealing digital currencies or other similar “prepaid instruments” as Section 5312 states;   

A ‘prepaid access device’ means an electronic device or vehicle, such as a card, plate, code, number, electronic serial number, mobile identification number, personal identification number, or other instrument, that provides a portal to funds or the value of funds that have been paid in advance and can be retrievable and transferable at some point in the future.

U.S. Law Enforcement Is at a Crossroads

The Senator from Minnesota, Amy Klobuchar, asked the former U.S. Treasury special agent, John Cassara, what he thinks about the current “transition from cash to digital cash.” Klobuchar is interested in his opinion on whether or not law enforcement can track money laundering cases tied to cryptocurrencies. Cassara who has spent most of his career investigating money laundering, trade fraud, and international smuggling cases says he’s pleased he didn’t have to deal with digital currencies during his tenure.  

“I’m just glad I had my career when I did because I don’t know what I’d do trying to follow the money when it comes to digital currencies, it’s extremely, extremely challenging,” Cassara explains.  

I think if you look at the metrics, the metrics suggest today that digital currencies are a small fraction of the threat that we face — That’s not to say it’s gonna be the case in 5-10 years from now — We’re right at a crossroads, and it’s going to be very, very interesting to see what goes forward.

It’s safe to say bitcoin proponents will be watching this bill very closely with its revised definitions. The way the proposed law is being discussed by bureaucrats may concern bitcoiners who believe in privacy. Especially when a U.S. Senator suggests “criminalizing the intent of concealed ownership” of digital currencies. Further, as the bill has progressed skeptics find it interesting definitions are being changed and snuck into the proposed legislation in a sneaky manner. However, U.S. Senators got a bill passed last night that also ‘quietly added $ 1 trillion’ to the country’s deficit in the same fashion. 

What do you think about the proposed bill S.1241 and Senator Feinstein’s statements? Let us know in the comments below.

Images via the Washington Examiner, Wiki Commons, and U.S. bill S.1241.

At all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

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CME Rival Cboe Suggests its Coming Futures Market Would Include Bitcoin Cash

December 2, 2017 |

CME Rival Cboe Suggests its Coming Futures Market Would Include Bitcoin Cash

Bitcoin Cash (BCH) only months old is being floated as a possible addition to a futures offering family by Cboe Global Markets (Cboe). Cboe is looking to differentiate itself from a growing chorus of rivals as it prepares to launch futures contracts by year’s end. 

Also readEgypt Finance Attorney General Calls for International Governance of Bitcoin

Bitcoin Cash Could be Family

December 2017 began with a giant announcement. Release pr7654-17 from the Commodity Futures Trading Commission (CFTC), titled CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange, began, “Today, the Chicago Mercantile Exchange Inc. (CME) and the CBOE Futures Exchange (CFE) self-certified new contracts for bitcoin futures products.”

In financial-speak that means legacy institutions are cleared to enter the cryptocurrency ecosystem.

Classic bureaucrat understatement reminded the public of the regulator’s burden: “Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past,” the Chairman said.  “As a result, we have had extensive discussions with the exchanges regarding the proposed contracts.”

It was presumably a welcome boon to Cboe, which seemed to be lost in media excitement over CME’s firm dating of a futures rollout along with Nasdaq’s mid-2018 bid.

Frank Chaparro reports Cboe looks like it might be willing to up the competition by appealing to more than just one cryptocurrency. Paraphrasing Cboe President Chris Concannon, “the exchange thinks a family of cryptocurrency products, including futures for ether and bitcoin cash, could come to fruition as the market continues to mature.”

CME Rival Cboe Suggests its Coming Futures Market Would Include Bitcoin Cash
BCH enthusiasts are excited about Cboe inclusion.

Cboe Once Bitten but Not Twice Shy

And if forward thinking when it comes to cryptocurrency futures is being scored, Mr. Concannon’s company has an inherited advantage over CME in that Cboe gobbled up Bats Global Markets. Bats was the first to attempt mainstreaming cryptocurrencies as an ETF, but was ultimately rebuffed by the SEC.

“I applaud Terry Duffy [of CME] in joining us in this endeavor,” Mr. Concannon told Business Insider with a wink. “This is the beginning of what will become a major asset class over the next 10 years. We started down this road in the form of an ETF. A healthy market is a healthy underlying market, derivatives markets, and an ETF. That will take time.”

CME Rival Cboe Suggests its Coming Futures Market Would Include Bitcoin Cash

Not to be outdone, Cboe made its own December announcement, stating “the Cboe Futures Exchange (CFE) has filed a product certification with the Commodity Futures Trading Commission (CFTC) to offer bitcoin futures trading,” adding the launch date would be shared soon publically.

Each contract “is equal to one bitcoin,” Cboe detailed. “The contract size is equal to a single bitcoin which allows for easy hedging of bitcoin positions.”

“The contract multiplier will be 1 so if a contract is trading at parity with bitcoin it will be worth about $ 9000 based on current pricing. The minimum tick for a directional, non-spread trade is 10 points or $ 10. A spread trade will have a much smaller tick of 0.01 bitcoin or $ 0.01,” Cboe continued.

“Standard, or monthly, contracts may be listed to expire for three continuous months and farther out for months on the March expiration cycle (Mar, Jun, Sep, Dec). There may also be up to four serial weekly expirations. Standard (think monthly) contracts will expire on the 2nd business day before the third Friday of the month which typically will be a Wednesday.”

Do you believe Cboe will add Bitcoin Cash? Tell us in the comments below!

Images courtesy of: Pixabay, Twitter, Bitcoin Cash. 

At there’s a bunch of free helpful services. For instance, check out our Tools page!

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This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions

December 2, 2017 |

This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions

A Ukrainian shipping company has become the first to accept payment in bitcoin. Its motivation for taking the digital currency? To evade economic sanctions. Shipping companies are obliged not to trade with sanction-hit countries such as Sudan, Yemen, and Qatar. Bitcoin provides a means of ensuring payment whilst enabling shippers to continue trading with these nations.

Also read: How to Protect Your Bitcoin and Your Privacy When Passing Through Customs

Shipped on the Blockchain

Bitcoin’s real-world use cases are often regarded from a consumer perspective. Increasingly, however, the digital currency is proving its worth not with P2P but B2B. Odessa-based Varamar Ltd, a Ukrainian shipping operator, has turned to bitcoin as a global payment solution. Unbothered by borders, bitcoin can be sent and received anywhere, regardless of geopolitics.

Varamar’s founder Alexander Varvarenko told Bloomberg:

Paperwork for transactions is a complicated issue with banks, and bitcoin payments will help solve that by being faster. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen, and Qatar, which have safe companies but are victims of sanctions being imposed against their governments.

Grey Areas and Murky Waters

High transaction fees and sporadic blockchain congestion are making bitcoin less suited for personal shopping. These issues are all but eliminated at enterprise level however, where bitcoin is a safer and faster alternative to traditional banking. One of the greatest risks shipping companies face is banks refusing to process payments from countries that have been blacklisted or from rogue states where the regulatory and financial environment is unclear.

This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions
Yemen: calm waters, but trouble lies beneath the surface.

If the Ukrainian company’s trial of bitcoin proves successful, it is likely that other firms will follow their example. Russian broker Interchart LLC are reportedly also looking at bitcoin as a means of circumventing banking restrictions. Ivan Vikoulov, managing partner at Quorum Capital who have been helping Interchart investigate bitcoin, said:

The industry has been under stress as majority of vessels are registered offshore and many vessel owners have banks in the Baltics, where there is a squeeze to send and receive payments in dollars.

Shipping companies often have little choice who they work with due to the global nature of the industry. Given the political pressure companies face not to conduct business with sanctioned states, it is likely that some firms will keep their bitcoin involvement discreet.

Fly With Bitcoin, Live With Bitcoin

This Ukrainian Shipping Firm is Using Bitcoin to Evade SanctionsIn the consumer sector, meanwhile, bitcoin can now be used to pay rent and charter flights. U.S. firm Rentalutions allows tenants to pay their rent in bitcoin, with the landlord receiving their dues in fiat currency through Coinbase.

Bitcoin whales whose cryptocurrency is burning a hole in their hot wallet may also be interested in Surf Air. “The future of travel meets the future of money” proclaims the charter flight company, which now accepts bitcoin and ethereum. For around 6.5 BTC a year, customers can enjoy unlimited global flights, or unlimited U.S. flights for approximately half that figure. From the high seas to the high skies, bitcoin is certainly proving its uses.

Do you think companies should be using bitcoin to evade sanctions? Let us know in the comments section below.

Images courtesy of Shutterstock, and Surf Air.

Need to calculate your bitcoin holdings? Check our tools section.

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PR: Exmo Cryptocurrency Platform to Launch Margin Loans with the Power of Crowdsale

December 2, 2017 |

Exmo Cryptocurrency Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

EXMO, the established cryptocurrency exchange player with over four years of successful trading experience, has announced the launch of the EXMO Coin crowdsale to support the ambitious goal of adding a Margin Loan service to its platform.

EXMO has made an official release statement of their plan to introduce margin loans as the key feature of their platform, which will allow traders to earn more on currency fluctuations by borrowing extra funds. This will bring a whole new way of trading to over 700,000 loyal traders around the globe and numerous new ones, enabling them to trade cryptocurrencies on a bigger scale than they would be able to afford with their existing money.

If unaccustomed to the traditional stock exchange term, under a margin loan one borrows funds from a broker to buy or sell stock. EXMO will be currently offering 1:2 leverages for a margin loan on the most popular BTC, ETH, and USD order books. More options will come in the future as the demand for the service will increase.

In order to cover the traders’ demand for margin loans, as well as to enable the overall platform development, EXMO will attract additional investment capital by issuing its very own token called EXMO Coin (EXO).

At the core of the upcoming crowdsale is the principle of giving the already profitable platform an additional boost for rapid development. EXMO representatives claim that half of the investment raised through the crowdsale will be used to cover the increasing demand for margin loans, and another quarter will be put into the overall cryptocurrency exchange development. The rest will go into establishing the margin loan insurance fund, acquiring the necessary licensing for simplifying the fiat money transactions, and covering marketing expenses.

Ivan Petukhovsky, EXMO co-founder, explains:

«We at EXMO believe that cryptocurrency trading must offer the same variety of investment tools as ordinary trading. We look to the future and would like to foster this development through bringing the virtual and real economies closer, and giving more people opportunities to invest and earn with just a click. Issuing the EXMO Coin will enable us to satisfy the demand of hundreds of thousands of traders, and develop an even more resilient, reliable, and truly global exсhange platform.»

Token holders will receive 50% of the revenue derived from margin loans distributed among them in the form of dividends on a monthly basis.

Following the sale, the EXMO Coin will be traded on the EXMO Exchange in pairs such as EXO/BTC and EXO/ETH, and later on with other currencies and altcoins, thus constituting another lucrative asset for its holder. On top of that, EXMO announced the guaranteed token buyout, outlining the corresponding conditions and dates in their White Paper.

The EXMO Exchange was founded in 2013, and has showcased steady performance ever since. In fact, it saw a trading volume of $ 192 mln back in 2014, growing to $ 1.8 bln in 2017, and 591,000 deals in 2014 reaching 24 mln in 2017. Thus, the trading volume and the number of deals made through the platform grew by 9 and 40 times respectively in the course of 3.5 years. The client base swelled by 188% in 2017. This tends to be an essential dynamic to consider, as the value of EXMO Coin will correlate with EXMO’s overall performance, as well as exchange rates of other currencies on the platform.

EXMO will launch their token currency on February 26, 2018, and all the interested users will immediately be able to purchase EXMO Coin tokens. The crowdsale will last until March 26, 2018.

Learn more about the EXMO crowdsale and EXMO on its official website, Facebook, Twitter, Telegram chat, and the company’s blog.

Press Contact:
Sofiia Neduzhko
EXMO Cryptocurrency Platform

Supporting Link

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Exmo Cryptocurrency Platform to Launch Margin Loans with the Power of Crowdsale appeared first on Bitcoin News.

Bitcoin News

New Podcast With Crypto-Economist Jon Matonis

December 2, 2017 |

New Podcast With Crypto-Economist Jon Matonis

This week’s podcast with our host ‘Bitcoin Brian’ features the e-money researcher and crypto-economist, Jon Matonis. The well-known economist is also the vice president of corporate strategy at the blockchain firm Nchain and served as the executive director of the Bitcoin Foundation until December 2014.

Also read: Circle Financial Plans to Launch a New Investment App Next Year

The Podcast With Jon Matonis

Jon Matonis joins the podcast this week and discusses decentralized global trade. Matonis is launching a global bitcoin exchange called Globitex, and is currently utilizing an initial coin offering (ICO) to fund the project. A short explainer video of what Globitex is can be found here. During the course of the show, Matonis and Bitcoin Brian discuss many subjects that revolve around the growing cryptocurrency landscape.

Matonis also talks about the meteoric rise of bitcoin and explains how certain bitcoin businesses produce revenue.

“There are three guaranteed ways to have a revenue-producing bitcoin company mining, exchanges, and online bitcoin gambling,” explains Matonis.

Bitcoin Brian and Jon Matonis also discuss other types of decentralization happening across the globe with business models that have emerged like Uber. Matonis further delves into his current project Globitex which aims to be a digital asset exchange that enables commodity trading and money market instruments for Bitcoin. The crypto-economist says the exchange will be an institutional grade trading platform with an API that can progress into a multi-functional spot and derivatives cryptocurrency trading arena.          

To hear more from Jon Matonis and his new project Globitex check out our podcast here. Or feel free to stream the Soundcloud player below.

What do you think about the interview with Jon Matonis and his new venture Globitex? Let us know your thoughts in the comments below. 

Images via and Jon Matonis. 

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“Only After Regulation Will Banks Work With You” – Japanese Exchange Operator Kayamori on Singapore Expansion

December 2, 2017 |

Non Regulated Crypto Environment

Can a legal, licensed crypto exchange be unregulated at the same time? While that might sound counter-intuitive, cryptocurrency exchanges that expand to overseas markets are finding themselves in this strange situation. They have legal, licensed status in their native home country, but are in legal purgatory in the new markets they expand into. Mike Kayamori, CEO of Quoinex, the first Japanese licensed crypto exchange with a global presence, sits down with Marcel from to talk more on being a licensed exchange from Japan in uncharted legal waters in Singapore.

Also read: PNC Bank Threatens to Close Customer’s Account for Buying Bitcoin

Mike Kayamori, CEO at Quoine

Marcel: Tell me more about the differences in Bitcoin’s regulatory framework in terms of Japan v Singapore. Quoinex has a license to operate an exchange according to the Japanese Financial Services Agency, but recently ran into issues with the CIMB bank in Singapore.

Japan has a regulation framework, Singapore has a zero tolerance policy.

Mike: We are a global exchange. We started in Singapore. Relocated to Japan last March due to advice from the Japanese FSA. This was because 80% of our trading volume was in Japanese Yen.

It took us 18 months to get licenced and registered in Japan. There, we have 6 or 7 banks that provide banking services for us. Regulation is clear. If you are a regulated exchange you offer your services to Japanese residents. It’s not clear in Singapore. There’s no bill, even though something will be announced by the end of the year. Then, that needs to pass and legislation will take 3 more months.

Until these details are out there, banks will not take you seriously. The most difficult thing for exchanges is when the regulation is grey. Then it’s up to the banks to decide if the banks want to extend banking services or not. In Singapore it’s zero tolerance. People might do fiat transfers to your exchange through a payments aggregator, payments partner, or subsidiary. However, once an exchange builds a noticeable trading volume, banks will shut the exchange down. They even shut down our individual customers’ DBS bank accounts. If banks know you are involved in crypto, they will shut you down.

A Forbidden Love Affair- If banks know you are involved in crypto, they will shut you down

Only after regulation will banks work with you. That’s the curse of a non regulated environment.

Marcel: Are Singaporean users still able to buy and sell crypto using SGD? Or do you have to route customers payments to Japan?

Mike: They have to wire to Japan.

Marcel: Banks will flag you if it’s over 50k SGD right?

Mike: That depends on the bank and also the intermediary bank handling the funds. For the receiving bank in Japan, there is no limit. You can wire a million dollars, 2 million dollars, 5 million. But your own bank in Singapore might say no. They’ll ask, ‘What are you going to buy with this? What’s the purpose? What is the source of funds?’ The intermediary bank might ask you as well. Fiat is always a challenge.

When everything can be bought or sold in cryptocurrency then we won’t need fiat anymore, but that’s a long way off.

Marcel: Do you think that Japan will regulate the second generation cryptos as well as ICOs?

Mike: They have already regulated all of it. They regulate exchanges, and these exchanges tell the FSA which tokens they offer. When you want to offer a new ERC20 token or any other coin, you need to submit an application to the FSA saying what you want to list. Only if they accept it can the exchange offer it.

Marcel: What do you think are the differences in attitude between crypto investors around the world? Are the Singaporeans more conservative when it comes to embracing crypto?

Mike: It’s more Japan and non Japan. Japan has a fascination with Bitcoin. In Korea, Ethereum and other altcoins have bigger volume than Bitcoin. In Japan it’s 9 to 1, Bitcoin, Bitcoin, Bitcoin then maybe Ethereum or Monacoin. Singaporeans and overseas Chinese guys are more aggressive when it comes to investing.


What do you think of the legal challenges crypto exchanges face? Should they wait for clear regulation before entering a new market?

Images courtesy of: Shutterstock and LinkedIn.

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