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Egypt Finance Attorney General Calls for International Governance of Bitcoin

December 1, 2017 |

Egypt Finance Attorney General Calls for International Governance of Bitcoin Over Terror Concerns

The First Attorney General of Financial Affairs for Egypt announced at a continental conference of prosecutors how international legislation is needed to address bitcoin in the light of evidence, he claims, it is being used to fund terror. The country was rocked just two years ago when the the Prosecutor General was assassinated. More recently the acting successor to the position was also targeted, but narrowly escaped an attempt on his life last year.   

Also read: First Bitcoin Exchange Launching in Egypt

Egypt Finance Attorney General Calls for International Governance of Bitcoin Over Terror Concerns

Egypt Finance AG Calls for International Governance of Bitcoin

On 30 November, Egypt’s First Attorney General for Financial Affairs, counselor Mohamed Fouda, “called for drafting an international legislation to combat dealing with the digital currency bitcoin, considering it a means to finance terror groups,” a report claims.

The 12th Annual Conference of Africa Prosecutors Association held its gathering in Cairo this year under the title, “Africa Defies Crime,” according to Mohamed Emad of Sada Elbalad. “The conference was attended by a group of African Attorney Generals,” he reports, “including the Attorney General of Angola and the Attorney General of Mauritania.”

Moreover, “the meeting comes out of the firm belief of the Egyptian Attorney General of the importance of judicial cooperation between public prosecution organs in other world countries in general and between neighboring African countries in particular,” Mr. Emad explained.

Egypt Finance Attorney General Calls for International Governance of Bitcoin Over Terror Concerns
Hisham Barakat

Egypt’s financial AG “shed light on the increase in the bitcoin trade via different websites without disclosing any information about its sources, or bodies that deal with it, making it difficult to track those transfers,” Egypt Today paraphrased.

Mr. Fouda made his remarks at day two of the gathering, under the theme “Combating [and] Prosecuting Cross-border Crimes: Difference in the Public Prosecution on Crimes of a Special Nature and Money-Laundering.”

The link to terror and bitcoin is fuzzy at best, but there is no denying Egypt’s law enforcement body has had a rough go of it in recent years. The present acting top prosecutor in the country, Zakaria Abdel Aziz, just last year was the target of an assassination attempt. Mr. Aziz himself gained the position after his predecessor, Hisham Muhammad Zaki Barakat, was assassinated via car bombing in the summer of 2015.

What do you think of Egypt’s terror claims in connection to bitcoin? Tell us in the comments below!


Images courtesy of: Pixabay, Ebay, Wiki Commons. 


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The post Egypt Finance Attorney General Calls for International Governance of Bitcoin appeared first on Bitcoin News.

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Turkey Religious Ministry: Bitcoin “Not Appropriate to Buy or Sell” for Islamic Believers

December 1, 2017 |

Turkey Religious Authority: Bitcoin "Not Appropriate to Buy or Sell" for Islamic Believers

Diyanet İşleri Başkanlığı (Ministry Presidency of Religious Affairs) of the Republic of Turkey has issued the guide “Bitcoin and Ethereum, such as Virtual Money for Investment: Is [it] Possible to Buy?” In it, the religious authority warned “it is not appropriate to buy or sell virtual moneys” for Islamic believers, reports a translation by En Son Haber. The Diyanet further explained believers are to avoid currencies not backed by the state or central authority. 

Also read: Turkey CB: “Cryptocurrencies May Contribute to Financial Stability”

Turkey Religious Authority: Bitcoin "Not Appropriate to Buy or Sell" for Islamic Believers

Islamic Religious Body of Turkey Forbids Crypto

Known as the Diyanet, Turkey’s religious authority weighed in on cryptocurrency use when it comes to being faithful to both Islam and the state. The Diyanet has jurisdiction “related to the beliefs, worship and morals of Islamic Religion, to enlighten the society about religion and to manage places of worship,” according to its website.

Cryptocurrencies such as bitcoin are “encrypted currency for each user, allowing direct commercial exchange between users without any central financial institution behind them,” the Diyanet began its rationale.

“In order for a currency to have a monetary value,” the Turkish Islamic authority continued, “it must either take its value in the state authority or have a unique value like gold. Virtual money, although used by some sectors as a means of exchange, can not be regarded as money because it does not have the prestige and credibility that the state provides, and because there is no central financial institution behind it and it is not under government guarantee.”

Turkey Religious Authority: Bitcoin "Not Appropriate to Buy or Sell" for Islamic Believers

Turkish Street Still Bullish on Bitcoin

This is in contrast with the president of Turkey’s Central Bank, Murat Cetinkaya, who said that such digital currencies could “contribute to financial stability,” as noted in these very pages.

Recently, police in Turkey flouted their arrest of a gang extorting bitcoin from known wealthy businesspeople. Apparently a Turkish man drew the gang’s attention by plastering his bitcoin wealth online. Reports of over 3 million USD in bitcoin were stolen.

The Diyanet statement concludes: “Moreover, it is not appropriate to buy or sell virtual moneys in the following stages, such as being open to speculation about losing or losing, being easily used for unauthorized work and transactions such as money laundering purposes, and being away from state supervision and oversight.”

Evidently, Turkey remains bullish on the world’s most popular cryptocurrency. As Russia Today notes, “A Turkish Lira-Bitcoin exchange, BTC Turk, has been set up, and there is a Bitcoin ATM near the Ataturk Airport in Istanbul. In September, the Miavita Beytepe apartment complex in Ankara said it would be accepting Bitcoin for luxury homes.”

What do you think of religious prohibitions on bitcoin? Tell us in the comments below!


Images courtesy of: Pixabay, Diyanet. 


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The post Turkey Religious Ministry: Bitcoin “Not Appropriate to Buy or Sell” for Islamic Believers appeared first on Bitcoin News.

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Future of Bitcoin Futures: CME Gives Details, Regulator Pushes Back

December 1, 2017 |

Future of Bitcoin Futures: CME Gives Details, Regulator Pushes Back

Chicago Mercantile Exchange Group Inc (CME) left a cryptic note atop its more detailed explanation of how bitcoin futures would be rolled out. Red emblazoned, it stated: “Effective Q4 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin futures.” Q4, the last three months of the year, is upon us, and it turns out the key phrase in that highlighted sentence might be “pending all relevant regulatory review periods.”

Also read: Nasdaq to Debut Bitcoin Futures by Mid 2018

CME Gives Precious Bitcoin Futures Detail

Lily Katz reports CME’s head of equity products, Tim McCourt, detailing of coming bitcoin futures. Mr. McCourt “said the exchange has put safeguards such as higher margin levels and limits on positions and prices in place to curb risks on the bitcoin futures it plans to offer,” she noted.

Bitcoiners the world over anticipate the entrance of CME to the ecosystem. Chicago Merc was founded just prior to the turn of the 20th century, and rests comfortably now as the largest futures exchange in the world some one hundred and twenty years later.

Future of Bitcoin Futures: CME Gives Details, Regulator Pushes Back

CEO of Bit Go Mike Bleshe, however, is quoted as saying he’s “skeptical they’ll launch this year,” as legacy business might “not be comfortable with bitcoin futures yet,” Ms. Katz paraphrases him predicting.

CME plans normal daily settlement for bitcoin futures will be “based on trading activity on CME Globex between 15:59:00 and 16:00:00 London time.” In three tiers, the company outlined trades (1), market data (2), and the absence of two-sided markets (3).

In the first, “All contract months settle to the volume-weighted average price (VWAP) of outright trades… rounded to the nearest tradable tick. If the VWAP is equidistant between two ticks it will be rounded towards the prior day.”

Tier 2, “In the absence of trades during the settlement period, the contract month settles to the midpoint of the Bid/Ask between 15:59:00 and 16:00:00.” If no “two sided markets [are] available during the settlement period in a particular contract month, then the settlement price will be the net change of the CME Bitcoin Reference Rate added to the prior day futures contract settlement (provided that settlement is within the Bitcoin futures price limits), adjusted to the Bid/Ask if one side is present,” CME explained.

Push Back

While a great many bitcoiners might be excited about futures, the main regulator, the Commodity Futures Trading Commission (CFTC), seems less than enthusiastic. According to Benjamin Bain, “While the agency has limited power to halt CME’s plans… it is demanding changes.”

Mr. Bain explains CFTC has been working to “address various issues, and to change some aspects of the contracts,” he quotes Erica Elliott Richardson, CFTC spokeswoman. “We expect that outstanding issues will be resolved in the near future,” she noted.

Future of Bitcoin Futures: CME Gives Details, Regulator Pushes Back

Ms. Richardson revealed “concerns about bitcoin futures expressed by some market participants” has played a role in closer examination. She might be referring to the full page ad taken by Interactive Brokers Group addressed to the CFTC Chairman from Thomas Peterffy. He argued nothing less the entire futures clearing market could be vulnerable with bitcoin in the mix.

Ms. Richardson of the CFTC continued: “Once the contracts are launched, commission staff will engage in a variety of risk-monitoring and oversight activities. These activities include monitoring and stress testing positions and observing and analyzing open interest, initial margin requirements, and variation margin payments.”

What do you think of CME’s details and CFTC’s push back? Tell us in the comments below!


Images courtesy of: Pixabay, CME, CFTC. 


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The post Future of Bitcoin Futures: CME Gives Details, Regulator Pushes Back appeared first on Bitcoin News.

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NYU Plans to Launch an Undergraduate Course in Cryptocurrencies

December 1, 2017 |

NYU Plans to Launch an Undergraduate Course in Cryptocurrencies

This year’s incredible bitcoin rally has raised a lot of interest in the cryptocurrency and created huge demand from people to learn everything they can about the phenomena. One academic institution which tries to answer this call is New York University (NYU).

Also Read: Paxful to Help Fund 100 Schools in Africa #BuiltWithBitcoin

Bitcoin 101 at NYU

NYU Plans to Launch an Undergraduate Course in CryptocurrenciesThe Stern School of Business at NYU was the first major US academic institution to offer a course in cryptocurrencies to its graduate students back in 2014. Now the school plans to offer a new option for undergraduates to learn about the field as well, NYU professor David Yermack told the Financial Times.

This new course is likely to be a highly sought one among NYU undergrads. Starting out with just a few dozen students, the graduate course accommodated 100 this year with many more applying to get in, and is expected to reach about 300 graduate students next year. “We are moving it to our largest auditorium, with capacity for 350 students,” the professor exclaimed.

Challenges

NYU Plans to Launch an Undergraduate Course in CryptocurrenciesUniversities that wish to offer classes about bitcoin, blockchain and other cryptocurrency related material face two problematic issues at the moment.

First, as anyone who follows the news can tell you, these subjects are changing at an incredible speed and if you were to write a textbook about the latest developments it will be out of date by the time it is printed. As Prof Yermack said: “Year over year we’ll change well over half the course material. It keeps you young to be reading half the night just to keep up with the latest innovations.”

Secondly and more importunately, the field is suffering from an acute talent shortage. With a teeming market full of new projects raising funds via ICOs, established companies exploring how to harness blockchain technology for their needs, and Wall Street heavyweights racing to start bitcoin trading, the competition for knowledgeable individuals is fierce. “Our biggest challenge is finding enough people to teach the courses,” explained Prof Yermack.

If you are looking to learn about bitcoin, but can’t make it to NYU, there is no reason to worry. All of the material needed can be found freely on the internet. And if you desire an Ivy League seal of approval, Princeton offers a ‘Bitcoin and Cryptocurrency Technologies’ course on Coursera.

Do you need a university to teach you about bitcoin? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


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The post NYU Plans to Launch an Undergraduate Course in Cryptocurrencies appeared first on Bitcoin News.

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New $100 Million Cryptocurrency Hedge Fund to Use XRP

December 1, 2017 |

New $  100 Million Cryptocurrency Hedge Fund to Use XRP

TechCrunch and CrunchFund founder Michael Arrington has announced he is going all in on cryptocurrency investments with a new hedge fund called Arrington XRP Capital. As the name suggests, the fund will be managed in Ripple’s XRP but it will invest in a wide variety of cryptocurrency assets and Initial Coin Offerings (ICOs) as well as private equity offerings.

Also Read: Bitfinex Faces Further Scrutiny Over Tether Liquidity Concerns

$ 100 Million in XRP Investments

New $  100 Million Cryptocurrency Hedge Fund to Use XRPAccording to Arrington, the $ 100 million cryptocurrency hedge fund has commitments from investors for over $ 50 million already, and they plan to begin trading in the next few weeks.

Other than the founder, two additional partners in the venture are former CEO of TechCrunch Heather Harde and veteran technology executive Geoffrey Arone.

This move is another strong indication of just how much cryptocurrency is recently becoming a mainstay in Silicon Valley as well as among established venture capitalists.

Why XRP?

New $  100 Million Cryptocurrency Hedge Fund to Use XRPBesides being denominated in XRP, the new fund will accept investment funds and make redemptions in the cryptocurrency as well pay fees and salaries out in XRP. This is despite the fact that it doesn’t have a commercial relationship with Ripple and they are not investors in the fund, Arrington said.

In his announcement, the CrunchFund founder only explains the choice of the cryptocurrency for its advantages over ‘ancient fiat methods’ for cross-border currency transfers, asserting that traditional means are too slow and laden with fees.

Asked specifically about the choice of the cryptocurrency at the Consensus conference he elaborated that: “We think XRP is a particularly useful currency because of the transaction times.” Arrington also added: “I think investors are maybe heavier in bitcoin and ether than they should be.”

At the bottom line, the TechCrunch founder seems very bullish on the cryptocurrency ecosystem, predicting that the overall market cap will rise from around $ 300 billion to trillions of dollars and signalling that he intends to spend the rest of his career in this field.

Are bitcoin transaction times are a critical factor for further adoption? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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The post New $ 100 Million Cryptocurrency Hedge Fund to Use XRP appeared first on Bitcoin News.

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This Week’s All-Time High Brings Massive Bitcoin Exchange Outages

November 30, 2017 |

This Weeks All-Time High Brings Massive Bitcoin Exchange Outages

November 29 was an exciting day if you were watching bitcoin prices swing back and forth with quite a bit of turbulence. The price of bitcoin touched an all-time high of $ 11,395 across global exchanges. Then, about an hour or so later, the price went down hard to a low of $ 9250 on some trading platforms. Although some exchanges had significant operational issues according to upset customers, the Down Detector, and the trading platform’s own website status pages.

See also: Circle Financial Plans to Launch a New Investment App Next Year

Multiple Cryptocurrency Exchanges Suffer From Website Outages and Service Issues

Cryptocurrency exchanges had some difficulties on November 29 as the price had wild and tumultuous price swings all day long. After the big spike and the start of the dip, customers started venting on forums and social media complaining about trading platforms and outages. The forum /r/bitcoin started a megathread dedicated to exchange outages. “Please discuss exchange outages here instead of everyone submitting screenshots of a broken website,” pleaded the subreddit moderator.

Many Bitfinex customers complain that their positions were liquidated on November 29. The Bittrex exchange says they had issues on Wednesday as well.

According to multiple reports, exchanges such as Coinbase, GDAX, Gemini, Bitstamp, Kraken, Bitfinex, and others had issues with their websites during the day. Traders complained of downtime during the dip, margin trading liquidations, and flash crashes. For instance, the trading platform Gemini has a whole page report on multiple issues of “degraded performance” during the day.

“We have received a few messages where customers see a ‘504 Gateway Time-out’ message,” explains the exchange status page.

We are implementing a mitigation fix due to an enormous influx of web traffic. We are monitoring and will let you all know once we are back up and running. Thank you for your ongoing patience.

This Weeks All-Time High Brings Massive Bitcoin Exchange Outages
These issues were posted to the Coinbase, GDAX, and Gemini status pages.

Coinbase and GDAX Experience Downtime

Another popular cryptocurrency platform that had issues during the day was Coinbase, and its sister company GDAX also had multiple problems with website operations.

“A portion of customers may be unable to access Coinbase — We are working to restore access to all users,” explained the company. Further, the company’s trading engine GDAX also suffered technical difficulties.

“We are currently investigating performance issues and downtime on the web app and REST API,” said the GDAX on November 29.

Kraken and Bitstamp Outages

Outages also took place on Kraken, as the website Down Detector reveals: the exchange had issues from 8 am to 9 pm EDT. There are multiple comments on the portal of Kraken customers upset with the downtime. Additionally, at the same time Down Detector had recorded some outages that happened over at Bitstamp. The European exchange had over 140 reports of outages between 11 am to 8 pm according to the Down Detector. Bitstamp outages were reported in the U.S., the Czech Republic, Germany, Holland, and many other areas across Europe. The trading platforms Poloniex and Bittrex also had customers who complained about website performance on Wednesday. 

This Weeks All-Time High Brings Massive Bitcoin Exchange Outages
The Down Detector website recorded lots of outages on November 29 at Kraken and Bitstamp as well.

Exchange Downtime and Margin Losses Show the Industry Has Significant Challenges

Throughout the day while exchanges had severe technical difficulties and outages, bitcoin’s price rapidly went from $ 11,395 and dropped 17 percent following the spike. After that bitcoin crossed the $ 10-10.5K range multiple times, and again fell to the $ 9600 territory. Even worse margin traders who utilize the exchange Bitfinex lost a lot of money according to many reports. When visiting the Reddit forum /r/bitfinex many traders are very upset with the trading platform’s performance on November 29. According to the company’s support page, the trading engines margin call limits should stop serious losses. The support page states;

When a position is force liquidated, the system places a limit order at the zero-equity price (rather than simply executing a market order). We do this to prevent a liquidated position creating a negative account balance for the user due to slippage during highly volatile market periods. 

However, a lot of Bitfinex traders say the company’s margin call safety valve did not save their accounts and there are countless posts of people claiming they were forced liquidated.

One company who helps provide exchange infrastructure support to cryptocurrency trading platforms wants to prevent these types of market oddities. The firm Alphapoint and its co-founder, Igor Telyatnikov, believes digital asset infrastructure outages are a problem if the technology gains a more considerable influx of mass adoption.

“Today’s incident highlights the challenges in this space as it continues to mature and attract institutional money,” Telyatnikov explained. “We need a more robust infrastructure for institutional-grade needs.”

What do you think about the massive exchange outages that plagued customers on November 29? Let us know what you think in the comments below.


Images via Shutterstock, Twitter, GDAX, Coinbase, Gemini, and the Down Detector.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. A forum, and a casino, a pool and real-time price statistics.

The post This Week’s All-Time High Brings Massive Bitcoin Exchange Outages appeared first on Bitcoin News.

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China’s Financial Channel Reports Huobi Violates Spirit of PBOC’s Document

November 30, 2017 |

China's Financial Channel Reports that Huobi Violates the Spirit of the PBOC’s Document

China’s Financial Channel (CCTV-2) aired a special bitcoin documentary this week to analyze reasons behind the recent price rally. The program invited Li Cangyu, financial columnist and Wan Zhe, chief economist at China National Gold Group Corp. as commentators who believe that Huobi has undoubtedly violated regulations on cryptocurrency services. 

Also Read: South Korea Outlines Proposed Legislation for Cryptocurrency Exchanges

Does Huobi Violate the Spirit of the PBOC’s Document?

Earlier this November, CCTV journalist reported that many OTC platforms don’t have any KYC requests, which leaves room for illegal activities. The latest documentary exclusively mentioned that Huobi and Huobi.pro have no legal base to provide RMB-related OTC services.

China's Financial Channel Reports that Huobi Violates the Spirit of the PBOC’s Document

Log-in to Huobi and one can see that they still use RMB to measure bitcoin and altcoins. At the front page of Huobi.pro, there are a large banner reading “buy coins with RMB, three steps only” along with a detailed guidance teaching newbies how to register and trade with RMB.

China's Financial Channel Reports that Huobi Violates the Spirit of the PBOC’s Document
Li Cangyu

Commentator Li Cangyu believes that this is obviously a breach of the PBOC’s notice. “The PBOC had made it clear this September that crypto platforms must not provide services between RMB and tokens, including price bidding or middleman service for the exchange of tokens or cryptocurrency,” he said. “I really don’t understand why they put that on their websites.”

When the program aired, many users dashed to Huobi.pro to either withdraw coins or cash out, worrying that the platform will be shut down again.

Why People Buy Bitcoin?

China's Financial Channel Reports that Huobi Violates the Spirit of the PBOC’s Document
Wan Zhe

Mainstream media tend to be negative about bitcoin. They often report bitcoin as a tool for money laundering and speculation. But as bitcoin price keeps rising, more people are showing interest in it. Wan Zhe thinks there are three main factors at play.

First, as the stock market is losing traction, people are looking for alternative investments to store their assets and thus switch to bitcoin. Second, though China is tough on the crypto industry, other governments like Japan, Korea and some small countries are friendlier. This makes investors optimistic about bitcoin’s future. Third, as more merchants accept bitcoin and big enterprises support the blockchain technology, users hold the belief that bitcoin will become a mainstream currency.

Uncertainties Hanging Over Bitcoin

The documentary ended with some big question marks regarding bitcoin.

Will bitcoin remain decentralized? Wan Zhe explained that mining has become centralized as top mining pools and miners are all based in China. And as individual mining is not so profitable, bitcoin mining might be monopolized by some giant companies in the future.  Will users still support it if decentralization were weakened?

Will bitcoin evolve into a global currency? Though bitcoin itself is not a bubble, but it contains many bubbles, which makes it far less competitive to fiat money. Li Cangyu noted that the issuance of a national currency is a symbol of sovereignty and economic decision-making freedom. He believes that no governments will give up these to use bitcoin.

When will the bitcoin price crash? In the 1720s, Isaac Newton lost 20,000 pounds due to his speculation in the South Sea Company stock. He initially invested around £3,500 and sold out when he doubled his money. But he was induced to get back into the market at the height of the bubble. Later Newton said: “I can calculate the motions of heavenly bodies, but not the madness of people.”

Li Cangyu cited Isaac Newton’s story to warn bitcoin investors that nobody knows who will be the last participnats. “They think they are on a sure thing only to have it blow up.”

Do you think Li Cangyu have a point? Tell us in the comments below!


Images courtesy of: Shutterstock, CCTV-2


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PR: Spectiv VR Featured on Fox Business’ Innovations Aired to over 100mm Viewers: Pre-Ico Dec. 8th

November 30, 2017 |

Spectiv VR Featured on Fox

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

Showcasing Advances in Virtual Reality

DMG Productions uncovers the latest technological breakthroughs in virtual reality.

Jupiter, FL — In an upcoming episode of Innovations w/Ed Begley Jr., the award-winning producers will explore the revolutionary world of virtual reality. This is slated to air first quarter 2018 on FOX Business. Check your local listings for more information.

With the growing development of virtual reality, previously unreal possibilities have become realities. As such, many speculate virtual reality will become the next revolutionary tech boom. This segment of Innovations will focus on the technology behind Spectiv, a platform that enables users and organizations to stream their unique virtual reality experiences to the world.

The Signal Token (SIG) Protocol is designed to decentralize the buying, selling, and rewarding of attention across media platforms by removing centralized intermediaries from advertising transactions.

“Spectiv’s mission is to make the virtual reality experience for everyone through community-driven VR streaming. We feel VR is one of the most exciting technological innovations ever, but the industry is experiencing some short-term friction in adoption. Spectiv is directly addressing this challenge by integrating a decentralized advertising system that will accelerate mainstream VR adoption,” said Dylan Senter, CEO and Founder of Spectiv. “He continued to say, “we are achieving this through our Signal Token Protocol, a blockchain solution that directly connects advertisers with content publishers, viewers, and curators, and are very excited to present our vision for the future of VR on the Innovations Series.”

Spectiv will act as the first adopter for this protocol, generating real-world application data to support future adoption by other media platforms.

“The cutting-edge technology behind the SIG Protocol will change the space of virtual reality as we know it,” said Michael Devine, Senior Producer for the Innovations series. “We look forward to enlightening the public about this technology.”

Signal Token Protocol

Spectiv is the creator and first adopter of the Signal Token Protocol. This protocol decentralizes the interaction between advertisers, content publishers, viewers, and curators. Using the Signal Token Protocol, advertisers can initiate Ad Campaign Smart Contracts that autonomously reward users for driving attention to advertisements. Every ad view and click that occurs is communicated to the Ad Campaign Smart Contract, triggering a token reward disbursement. This is an open-source protocol built for any media platform to implement. Spectiv will pioneer this protocol through its own media platform, Spectiv VR. This will provide a crucial real-world foundation for other platforms to learn from and build upon.

Token Purchasing Opportunities

Signal Tokens can be purchased in our Pre-ICO December 8th 2017, with early bird bonus opportunities for qualifying participants. The sale will have a maximum expected receipt of $ 40 million in Signal Tokens, priced at 650 Sigs/Eth. This open sale will be hosted at www.spectivvr.com. Email subscribers will receive early access to the token sale and exclusive 60% token bonus, so make sure to sign up to our email list.

About Innovations and DMG Productions:

Innovations, hosted by award winning actor Ed Begley, Jr., is an information-based series geared toward educating the public on the latest breakthroughs in all areas of society. Featuring practical solutions and important issues facing consumers and professionals alike, Innovations focuses on cutting-edge advancements in everything from health and wellness to global business, renewable energy, and more.

DMG Productions (responsible for creating the Innovations show) includes personnel specialized in various fields from agriculture to medicine, independent films to regional news and more. Field producers work closely with experts in the field to develop stories. This powerful force enables DMG to consistently produce commercial-free, educational programming that both viewers and networks depend on.

Contact Email Address
Dylan@spectivvr.com
Supporting Link
www.spectivvr.com

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. Bitcoin.com 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: Spectiv VR Featured on Fox Business’ Innovations Aired to over 100mm Viewers: Pre-Ico Dec. 8th appeared first on Bitcoin News.

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PR: Bcshop.Io Implements Bancor Protocol to Provide Bcs Tokens with Decentralized Liquidity

November 30, 2017 |

Bcshop.Io Bancor Protocol Partnership

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

BCShop.io is happy to announce that it will integrate the Bancor Protocol into its project to enable all users to convert BCS tokens directly on-chain. This means that no centralized exchanges need be involved, liquidity is available at any given time and very low fees are applied if at all.

According to BCShop.io Founder Vladlen Manshin, “The Bancor protocol integration enables great versatility for BCS token holders in their choice to buy, sell, or exchange tokens for ETH, BNT, or any other token in the newborn ecosystem. The BCShop.io team is proud to be among the first to implement a truly decentralized liquidity.”

Bancor gathers different project tokens into a single network where each project maintains a balance in its smart contract in order to use the BTN (Bancor Network Token) as a “Connector.” Tokens can be bought or sold with the use of BNT, ETH, or any other token in the network at a continuously calculated price based on the Bancor formula, which balances the buy and sell volumes.

Users can discover new projects which have already joined the network by browsing the Web App’s discovery page: https://goo.gl/AdZ335. The Bancor-compliant BCS Token Relay will be launched in the week following the successful completion of the Token Sale.

The integration of the Bancor Protocol into the BCShop.io project provides BCS token holders the following advantages when converting their tokens:

• No Spread – With Bancor’s non-profit automated market maker, BCS token holders can buy and sell their tokens at the exact same price.
• No Registration Required – Users can convert an Ethereum token to another type of token directly on-chain with the use of their Web3 compatible wallet.
• Continuous Liquidity – Users can convert any token (including ETH) in the network at any time regardless of the buyers and sellers and trade volume.
• Predictable Price Slippage – The Bancor Formula ensures price transparency by incorporating the transaction size and needs into the order book.
• No Counterparty Risk – The conversion of tokens comes with no risk, as they can be converted directly with a smart contract.
• Backward Compatible – Any existing ERC20 token can integrate into the Bancor Network with no code changes or fees.

After the BCShop.io token sale’s completion on January 31, 2018, 2% of all issued BCS tokens will be allocated to the BNT connector in order to enable conversions at any time via the Bancor network.

About BCShop.io: The BCShop.io project aims to reinvent the way digital commerce works today. It aims to enhance e-commerce with the fast-growing opportunities in blockchain technologies and cryptocurrencies.

The BCS Token Presale is currently ongoing, and applications are accepted at https://bcshop.io/. Early contributors receive a 50% bonus.

About Bancor: Bancor Protocol™ is a standard for the creation of Smart Tokens™, cryptocurrencies with direct built-in convertibility through smart contracts. It utilizes an innovative token “Connector” method to enable formulaic price calculation and continuous liquidity for all compliant tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. For more information, visit their website at https://www.bancor.network/.

Contact Email Address
bcshop@bcshop.io
Supporting Link
https://bcshop.io/

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. Bitcoin.com 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.

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Trump’s Federal Reserve Nominee: Cryptos “Don’t Really Matter Today”

November 30, 2017 |

Trump's Federal Reserve Nominee Under Oath: Cryptos "Don't Really Matter Today," "Not Big Enough"

President Donald Trump’s nominee for Chair of the Federal Reserve, current Board Governor Jerome “Jay” Hayden Powell, participated in the constitutionally mandated US Senate confirmation process by way of a hearing on 28 November 2017. Bitcoin and “cryptocurrencies are something we monitor very carefully,” Mr. Powell answered in direct questioning about current and future Fed policy toward decentralized currencies.   

Also read: After Mugabe, Zimbabwe Pushes Bitcoin to $ 17,875

Trump's Federal Reserve Nominee Under Oath: Cryptos "Don't Really Matter Today," "Not Big Enough"

Federal Reserve Under Oath about Bitcoin

Incredible valuations. Historic price rise. Mass adoption numbers. The Year of Bitcoin has achieved yet another official milestone: it is now a formal policy consideration by regulators of the world’s largest economy.

Tuesday afternoon in Washington, DC, Jay Powell sat before a sparsely attended, mostly pro-forma senate hearing. A current Fed governor nominated by President Obama to serve a 14 year term, Mr. Powell is widely considered to ease through to confirmation in the Republican-controlled upper body.

Georgia Senator, Republican David Alfred Perdue, Jr took asked the nominee a series of questions. Completely switching topics, he ended his line of thought with queries at the 1 hour and 35 minute mark about a subject sweeping professional finance circles: bitcoin.

Senator Perdue began, “We have another bubble that is some 4 to 5 times the size of the dot com bubble in the late 1990s, and that has to do with the cryptocurrencies like bitcoin,” he said.

Trump's Federal Reserve Nominee Under Oath: Cryptos "Don't Really Matter Today," "Not Big Enough"

Junior Georgia Senator Asks about Bitcoin

Mr. Perdue is junior senator from the Peach state, having been elected in 2014 to a six year office. His background include heading many businesses.

“Bitcoin’s market value now is bigger than all but 29 of the S&P 500 corporations in America,” he continued. “Assuming that this continues, and talking about that bubble, and the size and the growth of these cryptocurrencies, if that continues to grow … to what extent does that effect your ability to effect results from your typical monetary policy options that you typically have as a central bank?”

Nominee Powell answered, “You know, in the long, long run things cryptocurrencies of that nature could matter,” he said. When confirmed, Mr. Powell will be the 16th person to assume chairmanship of the Fed in its 103 year history.

“They don’t really matter today,” Mr. Powell said dismissively. “They’re just not big enough. They’re just not anywhere near close to enough in volume for it to matter for us.”

Senator Perdue then again made parallels between the 1990s dot com boom and bitcoin, implying Mr. Powell should see the same.

Bubble Fear

“There’s no question the valuations have gone up quite a lot in the last year or so. I don’t have a view on the appropriate level of the valuation, of course,” Mr. Powell explained.

Trump's Federal Reserve Nominee Under Oath: Cryptos "Don't Really Matter Today," "Not Big Enough"
Jay Powell

The price of bitcoin, as of this writing, has reached 10,000 USD on global exchanges, skyrocketing hundreds of percent in eleven months.

“From our standpoint, cryptocurrencies are something we monitor very carefully. We actually look at blockchain as something that may have significant applications in the wholesale payments part of the economy,” Mr. Powell expanded in his answer.

“It’s something we pay close attention to,” the Board Governor noted.

The Senator from Georgia then asked if the Fed were watching technologies used around the world and in companies such as Alibaba with regard to blockchain and cryptocurrencies.

“We are watching all of those technologies. It’s something we have to do, I think. It’s actually something that is kind of enjoyable and interesting,” Mr. Powell smiled.

What do you think of incoming Fed Chair’s comments? Tell us in the comments below!


Images courtesy of: Pixabay, imagur, Wiki Commons.  


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