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The French economy will grow more slowly than originally projected in the last quarter of the year due to the violent protests, adding to pressure on President Emmanuel Macron to deliver a strong response in a highly anticipated address to the nation.
WSJ.com: What’s News Europe
Social media platform Honest Cash has activated 200 new users and added a few new features, according to its creator Adrian Barwicki. News.Bitcoin.com reported on its initial launch during the last week of November, when the blogging platform started with the first 100 registrants.
Honest Cash Sees 7-10% Daily Growth
Since the Bitcoin Cash (BCH) network hard fork a few weeks ago, a new social media platform called Honest Cash was launched for BCH proponents. Similar to blogging platforms like Medium or Steemit, the Honest Cash application gives registered users the ability to create a unique profile tethered to a BCH wallet and post written content in short or long form. Initially registered users could only post written text, but since then, Barwicki has added the ability to upload photos and videos as well. This means the Honest Cash community of users can reward good content by tipping not just writers, but vloggers, graphic artists, reporters, and more with bitcoin cash.
Barwicki has been registering users by invite-only after people sign up with a valid email address and had approved 100 users during the week news.Bitcoin.com tested the platform. On Friday, the developer announced that the team activated 200 more users and they have only 50 slots open for the rest of the trial period. Moreover, looking at the data, Honest Cash has grown 7-10 percent a day and that’s not including the waiting list Barwicki detailed on Twitter.
“Another 200 accounts have just been activated on Honest Cash,” the founder emphasized.
190 stories have been published, 150 are being written, 120 tips/upvotes were given since two days ago and we have an elite retention rate of over 50% — Is something growing like this on BSV?
New Native Wallet and the First Uncensorable Post
While scrolling through the Honest Cash front page, the feed consists of subjects like bitcoin, cryptocurrencies, trading, economics, and politics which shows the platform is growing. Users can now follow other users and unique content creators can grow a list of followers too. Additionally, the Honest Cash application allows individuals to tether their Twitter profile or Reddit account to the platform. When news.Bitcoin.com tested the platform in November, you could tether a third-party wallet to a profile. But now Honest Cash has its own native client which can generate a new wallet. Users can also import existing keys with custom HD derivation path support.
Recovery phrases never leave the browser, explains the Honest Cash website, and with all the transactions signed, the software never exposes keys over the internet. However Honest Cash recommends not attaching a wallet with a large amount of BCH, as only a small amount of funds is needed to tip and upvote. Furthermore, five days ago the first uncensorable post was recorded on the Honest Cash platform with a little help from the Bitcoin Files platform.
“It cannot be removed, censored or amended. It is saved in the history of mankind for all times — Be honest,” explains the post with the bitcoin file hash.
What do you think about the Honest Cash platform? Let us know what you think about this subject in the comments section below.
Images via Shutterstock, Honest Cash, and Pixabay.
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The post BCH App ‘Honest Cash’ Sees Significant Growth and Adds Native Wallet appeared first on Bitcoin News.
Investors’ retreat from U.S. stocks turned into a stampede Friday, with major indexes suffering declines of more than 4% for the week that made it the worst start to a December since 2008. The Dow fell more than 550 points amid trade-related tensions.
WSJ.com: What’s News Asia
Auditors KPMG have published a report stressing the need for institutional investors to join the cryptocurrency industry. The report outlines the importance of cryptoassets as an investment alternative and how institutional investors can take part in the process.
‘Digital Assets Have Potential, Institutionalization Needed to Scale’
In the report, released Nov. 18, the Netherlands-based firm said a new world of finance is emerging in which transacting in digital assets may become standard operation. “Cryptoassets have potential,” KPMG wrote, in the report titled ‘Institutionalization of Cryptoassets.”
“But for them to realize this potential, institutionalization is needed. Institutionalization is the at-scale participation in the crypto market of banks, broker dealers, exchanges, payment providers, fintechs, and other entities in the global financial services ecosystem,” it said.
The study comes at a time the use of digital currencies is gaining worldwide adoption, both as a unit in financial transactions and as a store of value.
Christine Lagarde, the managing director of the International Monetary Fund, last week said central banks throughout the world should consider issuing digital currency to make transactions more secure. Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention.
Although observers point to the risks of central banks’ involvement in cryptocurrency, such as the potential to slow down transactions and raise costs through over-regulation, KPMG views the coming on board of financial institutions as crucial to boosting public confidence in digital assets.
“Institutionalization is the necessary next step for crypto and is required to build trust, facilitate scale, increase accessibility, and drive growth,” the auditors asserted, adding that it would be prudent for countries in hyperinflation, like Argentina, to adopt cryptocurrencies to preserve value.
KPMG said: “A globally accessible, decentralized store of value could have a significantly stabilizing impact on the country’s economy. Bitcoin could potentially represent such a store of value in the future.
“Interestingly, even though there are large price fluctuations with Bitcoin, it is not inherently volatile. The supply is in fact fixed and algorithmically secured. It is the demand that is fluctuating and this could eventually stabilize as the market matures,” it added.
Truly Open Global Financial System
Writing in the same report, Coinbase chief compliance officer, Jeff Horowitz, said cryptoassets are an opportunity to transform the financial industry into a truly open global financial system.
“Regulatory agencies are also beginning to seriously discuss cryptoassets, which could help drive institutional participation, encouraging the marketplace to think about how engagement with these assets fits into both existing rules and regulations and new frameworks that may be needed for crypto,” he said.
However, Horowitz noted that the focus on cryptocurrency innovation must not come at the expense of security, compliance, and consumer protection.
“Leaders in the crypto space, including crypto entities and industry partners, have a responsibility to help influence and educate key legislators and regulators to advance the overall governance and enforcement framework,” Horowitz detailed.
“In many ways, leading crypto companies should aspire to meet the standards and leading practices established by traditional financial services companies. We believe this will help promote trust and accelerate the adoption of crypto by investors and institutional clients,” he added.
Do you think corporate investors will help grow the cryptocurrency industry? Let us know in the comments section below.
Images courtesy of Shutterstock.
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The post KPMG: Institutional Investment Key to Cryptoassets Growth appeared first on Bitcoin News.
Macy’s Inc. on Wednesday posted third-quarter same-store sales that beat Wall Street’s expectations, but it apparently has yet to prove to all investors that its rebound isn’t just a fleeting moment.
Same-store sales, a closely watched measure, rose 3.3% for owned and licensed stores, topping analyst…
Macy’s delivered healthy sales growth in its latest quarter and raised its guidance for the year, positioning the retailer for a strong holiday shopping season.
WSJ.com: US Business
Uber’s sales growth is dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food-delivery business.
Revenue growth reached only 38% in the third quarter, not even half of what it was six months earlier, when the company was negotiating…
2018 was meant to be the year of security tokens. The number of projects seeking to launch security token offerings (STOs) would mushroom, we were told, and a string of accredited trading venues would emerge where these instruments could be exchanged. The release of two new reports into the STO market provides an opportunity to reflect on whether security tokens have lived up to the hype.
The Quest to Securitize the World
When the utility token craze took off in 2017, raising billions of dollars through initial coin offerings (ICOs), skeptics predicted that the mania couldn’t last. Many of these so-called utility tokens, it was claimed, were actually securities, and it was only a matter of time until a lettered agency such as the U.S. Securities and Exchange Commission stepped in to call a halt to proceedings. In the event, the demise of the utility token has had less to do with enforcement, and more to do with market conditions that have made it virtually impossible for ICOs to raise funds. A string of underperforming ICOs, including several that were outright scams and others that simply failed to deliver, have blunted public appetite for this fundraising mechanism.
STOs have the potential to overcome several of the drawbacks to ICOs, including the regulatory uncertainty. Because security tokens represent a claim to an asset, such as equity, investors have a degree of reassurance that, in the event of the project faltering, they will have legal redress. This contrasts with utility tokens, which are sold on the understanding that they may be worth nothing and that holders have zero claim to any sort of assets. Two new reports from Hashgard and ICOrating.com provide an insight into the health of the nascent security token market.
STOs See Modest Growth in Q3
ICOrating.com reports that STOs saw a steady increase in interest during Q2 and Q3 of 2018. The share of projects offering a security token increased by a slender 1.66 percent in Q3 over the previous quarter, while the number of projects offering utility tokens decreased by 10 percent. One impediment to projects seeking to launch an STO is a shortage of platforms that are capable of listing their token. Until traditional cryptocurrency exchanges, including a number of Malta-based entities, receive approval to sell securities to accredited investors, a handful of platforms will hold sway.
Leading security trading platforms and frameworks include Tzero, Polymath, Swarm, Harbor, Securitize and Securrency. Different exchanges often use different token standards to facilitate the trading of security tokens. In the case of Polymath, for instance, it’s the ST20 protocol for Ethereum-based tokens. Startengine, meanwhile, has introduced its own ERC1450 standard for digital stock certificates. “To date, we have issued ERC1450 tokens to all 3,500 Startengine shareholders, and there are 165 more eligible companies that use Startengine Secure and are expected to be listed on the ERC1450 smart contract,” explained CEO Howard Marks.
2019 — the Real Year of Security Tokens?
Significant progress has been made over the last 10 months in developing security token standards, trading platforms, and obtaining regulatory approval. In terms of capital raised, however, STOs have yet to make any major headway. Singapore’s Blockchain Capital raised $ 10 million via STO, while other security token projects include high-tech investment fund Spice VC and incubator fund Science Blockchain. Many other aspiring STO projects are still waiting patiently for the SEC to approve their Reg A+ application that will enable them to sell security tokens to the public.
As demand for utility tokens continues to decrease, expect to see security tokens outstrip them and become the preferred fundraising method for tokenized projects. From a building perspective, this year has recorded plenty of headway in the security token market. Predictions of 2018 being the year of the security token look to have been overstated however. It seems likelier that accolade will go to 2019 instead.
Do you think security tokens will eventually replace utility tokens as the leading fundraising mechanism? Let us know in the comments section below.
Images courtesy of Shutterstock, ICOrating.com and Hashgard.
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According to global statistics provided by Coinatmradar.com, there are now close to 4,000 cryptocurrency automated teller machines (ATMs). Moreover, there’s been a huge influx of bitcoin cash ATMs over the past year as there are now 1,200 BCH dispensing devices located around the world.
The Rise of Digital Asset ATMs
There are various ways people can purchase bitcoin cash and a slew of other cryptocurrencies around the world and one of them is through the use of ATMs. Digital asset dispensing ATMs have been popular since they were first introduced, and over the past two years, their worldwide growth has been exponential.
In November, data from Coinatmradar.com shows the metric will likely reach 4,000 ATMs very soon as the current number of ATMs is 3,993 machines worldwide. Additionally, there are 141,000 ATM-like services that sell cryptocurrencies through mobile payment terminals, vouchers, and even traditional bank ATMs. 1,200 machines out of the world’s 4,000 units allow users to purchase and sell the decentralized currency bitcoin cash.
The analytical website also details some interesting data concerning cryptocurrency ATM growth worldwide such as the fact that there are 6.7 crypto ATMs installed a day. This metric is based on the speed of installations over the last seven days and gauged by the calculations of the last two months. Over 71% of the world’s cryptocurrency ATMs reside in North America while the second largest number of machines (23.5%) are located in Europe. This is followed by Asia (2.5%), Oceania (1.3%), South America (0.98%), and Africa (0.20%). The most bitcoin cash ATMs stem from North America, with 993 of them located on the continent.
Recent Study Suggests Cryptocurrency ATM Ecosystem May Grow Over 50% per Year
The biggest digital asset ATM manufacturer today is Genesis Coin which captures 32% of the market share of all machines. General Bytes comes in a close second with 29.2% and then Lamassu (10.9%), Bitaccess (5.4%), Coinsource (4.8%), and Covault (2.7%). Out of all the crypto ATMs worldwide, 61.7% of the machines are one-way devices, which means they only sell cryptocurrencies. Only 38.2% of all virtual currency ATMs are two-way machines, meaning that they not only sell cryptocurrencies but also buy them.
Cryptocurrency ATMs have spread like wildfire and operators and manufacturers do not appear to be slowing down anytime soon. For instance, Lamassu recently introduced a new line of machines. The company launched the “Sintra” series, which includes four models that support BCH, LTC, DASH, ETH, ZEC, and BTC. Furthermore, on Nov. 2, news.Bitcoin.com reported on Coinsource being the first crypto ATM provider to be awarded the Bitlicense to operate in the state of New York. Lastly, according to a recent study by research firm Marketsandmarkets, crypto ATMs will see a compounded annual growth rate of over 54%.
What do you think about the growth of cryptocurrency ATMs worldwide? Let us know what you think in the comments section below.
Images via Pixabay, Shutterstock, and Coinatmradar.com
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The post Cryptocurrency ATM Growth Spikes Exponentially to 4,000 Machines Worldwide appeared first on Bitcoin News.
U.S. stocks fell as crude prices continued to lose ground a day after the U.S. oil benchmark entered a bear market. The Dow declined more than 100 points, while nine of the 11 S&P 500 sectors also fell, led by energy and technology.
WSJ.com: What’s News Asia