China’s Digital Yuan is a Trojan Horse With Plenty of Potential Repercussions

China’s Digital Yuan is a Trojan Horse With Plenty of Potential Repercussions

The global focus continues to shift toward China’s digital currency plans. Despite a genuine lack of information, it certainly poses many different threats. 

Rumors regarding a digital yuan have persisted for years now.

China’s Digital Yuan is More Than Just a CBDC

Only a few months ago, it became apparent this was more truth than fiction after all. The Chinese government is banking big on blockchain. One of the potential use cases is to create a tokenized yuan. It will become the first central bank digital currency to make any impact. Under the hood, this digital yuan makes use of a private distributed ledger controlled by the PBoC. If successful, this currency can genuinely threaten traditional banking. Moreover, the digital yuan makes the floating exchange rate system rather obsolete. China is allegedly trying to get rid of the US Dollar as well. All of this makes the digital yuan a wrecking ball worth keeping a close eye on.

In this modern era, legacy systems need to evolve or crumble. China’s warning shot seems to hint at how the latter outcome may be more likely to occur. With other countries exploring CBDCs as well, the next few years may prove rather crucial. Dethroning the US as the financial powerhouse of the world is not impossible by any means.

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

https://themerkle.com/chinas-digital-yuan-is-a-trojan-horse-with-plenty-of-potential-repercussions/

Thomas ClaimCo.in

Latin American Countries Show an Increasing Appetite for Bitcoin

Latin American Countries Show an Increasing Appetite for Bitcoin

The appeal of bitcoin is greater in regions where financial hardship is commonplace. Both Venezuela and Argentina show an increasing demand for BTC as the year draws to a close. 

It is a well-known fact how Latin American countries struggle financially.

Bitcoin Remains Popular in Latin America

Those problems are more apparent in Venezuela and Argentina compared to other regions. After years of increasing inflation, local residents are looking for alternatives. While bitcoin is not the most popular option, its trading volume is on the rise. Especially where LocalBitcoins is concerned, current statistics look very impressive. A massive increase in P2P trading volume has been noted in both regions. Venezuela remains well ahead of Argentina in this department. Considering how these spikes took place near Christmas, one has to wonder why this happens now. Both regions have noted a steady increase in LocalBitcoins volume throughout 2019.

Keeping that in mind, these increases in trading volume were only a matter of time. In Argentina, things have gotten very dire from a financial perspective. The same goes for Venezuela, where the domestic Petro cryptocurrency is not gaining any traction whatsoever. It seems likely to assume that more and more users will flock to bitcoin as a result. In turn, that should lead to further increases in weekly P2P trading volume.

Article Produced By
JP buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

https://themerkle.com/latin-american-countries-show-an-increasing-appetite-for-bitcoin/

 

Thomas ClaimCo.in

How to Buy Bitcoin with PayPal Account Best Working Methods

How to Buy Bitcoin with PayPal Account [Best Working Methods]

One of the biggest problems today in Bitcoin is the fact that it can’t be bought very easily.

PayPal has been very unfavourable of Bitcoin in the past 2 years and it’s still a problem to find credible places to buy Bitcoins with your PayPal account. There is a simple reason why PayPal won’t allow this. There are many chargeback cases created by scammers who use PayPal to purchase Bitcoin from you and then they claim that they didn’t receive anything. This way they get to keep their Bitcoins and their money.But first thing first, there are no ways to buy Bitcoin with PayPal directly because Bitcoin transactions are irreversible. However, there are certain indirect ways to work around restrictions using services and marketplaces so that you are able to purchase Bitcoins using PayPal money.In this tutorial, I have highlighted some of the best ways by which you can buy Bitcoins using your PayPal account.

There are exchanges that allow you to buy Bitcoin with your PayPal account. However, you can buy it in a limited fashion because they too want to protect themselves from chargebacks. After you’ve proven your intent and investment, these exchanges eventually lift holds. Of course, they charge a small transaction fee. However, it’s better to pay a fee than having to take risks with wire transfers or cash exchanges.

Here are all the listed sites from where Bitcoins can be bought using PayPal:

  • Localbitcoins (Most popular way, has high fees)
  • Wirexapp (The best way and at the market rate, has medium fees)
  • PaxFul (Only for verified account and high exchange rate)
  • Virwox ( not working anymore)

Buy Bitcoins using PayPal and WirexApp

Wirexapp is one of the best ways for those who are looking to purchase Bitcoins with their PayPal account on a consistent basis. This method would take 1-2 days for the first time. After that it’s all instant. You will be able to use your PayPal funds to Buy Bitcoins if you follow the steps mentioned in this tutorial. Wirexapp  can be used for PayPal accounts within these countries: Botswana*, Bulgaria, Bahamas, Bahrain, Georgia, Gibraltar, Chile, Croatia, Estonia, Liechtenstein, Lithuania, Luxembourg, Latvia, Lesotho, Jordan, Kazakhstan, Indonesia, Italy, Honduras*, Iceland, Moldova, Morocco, Malta, Mauritius, Malaysia, Mozambique*, Slovakia, Slovenia, Senegal*, Serbia, San Marino, Saudi Arabia, Philippines, Romania, Oman, United Arab Emirates and Uruguay.

  • You need a WirexApp account to get started. Click  here to create an account.
  • You get a free virtual visa card when you create and verify your account. (You can also order Physical Visa card, but let’s focus on the fastest method for now).
  • You need to add a small amount ($3) to your virtual visa card from Wirexapp in order to use this method. It’s very important to add the card to your PayPal account.
  • Login to your PayPal account
  • Click on Money
  • Click on Add a card

You will be asked by PayPal to confirm the new card. Click ‘Confirm my card’ and PayPal will begin a series of transactions to verify your card, which is a standard practice by PayPal that they use to verify an account. This is where your balance of $3 will be used (I will talk about this later). You will then be asked to enter a PayPal Code. Now, login to your Wirexapp account. Under transaction you will find the confirmation code to verify your debit card.

Confirm the code. After that, you will see a success message like this.

Click on close. Now you are all set to start buying Bitcoins with your PayPal account. Now all you need to do to buy Bitcoins using your PayPal money is to withdraw money from your PayPal account to linked Wirexapp debit card, which usually takes between 1-7 days. Once your funds are withdrawn to your linked card, you can use Wirexapp interface to Purchase Bitcoins. This is one of the best ways for those who are looking to use their PayPal money for buying Bitcoins at market rate, and all other methods usually cost you extra for Bitcoin purchase. Use Wirexapp to get your first free virtual debit card (VISA powered) (if you are in the countries listed above), and use it to buy Bitcoins using PayPal money.

Use VirWox to Buy Bitcoins wit PayPal

UPDATE: unfortunately, since October 26th, VirWox no longer supports paypal. VirWox is the most popular way of buying Bitcoins using PayPal (at the time of writing this article). There are some things that you should know about VirWox before we get started:

  • VirWox is delaying new user transactions for up to 48 hours, which means that it can take you 2 days to complete this process. However, this is still way faster than using a wire transfer.
  • You can contact VirWox at support@virwox.com if you still don’t receive the Bitcoins after 48 hours (which is very unusual).
  • VirWox is limiting the amount you can deposit initially through PayPal or a credit card due to chargeback risk VirWox is taking on themselves.
  • This process hold within it more transaction fees than usual, which may still be a valid solution since the soaring numbers of BTC compensate for this. Be aware of the different transaction fees.

Just follow the steps mentioned in this tutorial and you will have your Bitcoins with you.

  • Create a free account on VirWox on this link.
  • Click on “Not registered yet?”

    Fill out the registration form on the next page. You don’t have to change the avatar section. (For reference, check screenshot below).Click on the confirmation link in your email to activate your account.

  • Login to VirWox site.
  • Click on Deposit to start adding money using PayPal.

    Scroll down to the PayPal express checkout section on the deposit page and select the amount that you wish to deposit. You can only see the maximum allowed for Euro and US Dollars there.I’m depositing certain amount into my VirWox account in this case. Complete the transaction by clicking on check out with PayPal.

  • You will get the confirmation of your deposit on the next page. Fees are around $4 on $100 you pay.

  • Purchase SLL with Deposited amount:

Under exchange, click on USD/SLL and buy SLL with your deposited amount. I’m purchasing 22,508.42 SLL using $91 in this case.

Purchase BTC with SLL:

So far, you have already bought SLL with your PayPal account. Now, click on BTC/SLL under exchange. Click on next. Confirm your order. It’s important to note that the exchange commission is 50 SLL + 3.90%. Click on place order! Your transaction will be confirmed within few seconds. Here is the success screenshot. Now you can withdraw your Bitcoins into a wallet address. I assume you already have one. However, if you don’t have a wallet address, click here to create a free account on Coinbase and get a Bitcoin wallet address.

How to Withdraw BTC from VirWox to Your Bitcoin Wallet

Click on withdraw under my account. Add your Bitcoin Wallet address on the next page. Note: You will be charged a handling fee of 0.004 BTC per withdrawal. Most Bitcoin withdrawals are processed instantly. However, new accounts are checked manually and they will be processed within 48 hours. When the withdrawal has been processed, you will receive an email confirmation. Considering the exchange rate and the fees, the overall BTC that you will get using PayPal money is minimal. But again, for those who are looking to purchase Bitcoins with their PayPal account, this is one of the most verified and authentic way. There are other ways too by which you can buy Bitcoins using PayPal. However, they are not as risk free as one offered by VirWox.

Other Ways to Purchase Bitcoins Using PayPal

LocalBitcoins

LocalBitcoins is another marketplace where you can buy Bitcoin using PayPal, but you need to be careful while picking the seller. Click on trader name to check his feedback and trade volume, which will give you a good idea of how credible the seller is. I have used LocalBitcoins in the past to buy Bitcoins using cash and it worked fine for me. Again, you need to be very careful and smart when using Localbitcoins to make a purchase.

Paxful

Paxful is another popular way for users who want to buy Bitcoins using PayPal, Gift cards, Skrill, Payoneer to name a few. Paxful is similar to LocalBitcoins, but with cleaner user interface.

The process of purchasing Bitcoins at Paxful is really simple:

  • Create an account
  • Choose a payment method for purchasing
  • Choose  a desired amount
  • Choose your seller – You can either let Paxful decide who is the best seller for you or choose a seller manually.

Once the trade initiates you will be sent in to an online chat with the seller to finalize the deal. The seller’s Bitcoins will be sent into Escrow and they will be released into your account once you mark that you’ve sent your payment. It’s important to note that if the deal isn’t finalized within a certain timeframe (usually 30 minutes), it will be auto-cancelled.

Conclusion

I will keep testing new methods that let us purchase BTC using PayPal, and I’m currently testing LakeBTC for BTC purchase with PayPal. For now, you should try one of these two methods to purchase Bitcoins instantly using your PayPal account.

Article Produced By
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community – both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

https://captainaltcoin.com/buy-bitcoins-using-paypal/

 

Thomas ClaimCo.in

Bitcoin Price Prediction 2020 2025 2030 Future Forecast For BTC Price

Bitcoin Price Prediction 2020 | 2025 | 2030 – Future Forecast For BTC Price

Bitcoin Long-Term Overview

Bitcoin opened 2018 with a high of $13,290 and closed the year at about $3,800. This represents a 72% loss overall. By comparison, the Dow opened the year at $24,824 and close at about $23,300. This represents a 6.2% loss overall for traditional investors. However, 2019 is a different story as bitcoin opened it at $3,700 but climbed up by almost 60% (as of today) and is currently hovering around $5,900. If we are honest, bitcoin is still, for the most part, a favorite toy of experienced and less experienced speculators but number of builders is burgeoning as well. The surrounding ecosystem and infrastructure is being built at blinding pace while brand presence and recognition are hitting all time highs, especially among the younger generation.

The old establishment, comprised of mostly old white men, is still yelling at bitcoin, throwing jabs, insults and calling for a ban (best evidence of their glaring lack of understanding of how bitcoin works). Luckily, biology is on bitcoin’s side – the old ruling class and archaic technologies they cling on are dying off, making room for new ideas and technologies. Bitcoin already owns real estate in the heads of the upcoming decision makers and wealth holders and it is only question of when, not of will, bitcoin enter the mainstream financial world. Let’s take a look at the fundamental forces that will propel bitcoin upwards in 2019. We can divide the fundamentals into two categories: protocol enhancements and ecosystem/infrastructure construction.

Fundamentals

Protocol enhancements

Freelance journalist Ian Edwards wrote an excellent piece on bitcoin protocol improvements that you can read here. Here is the excerpt with most important developments. It is worth noting that prolific bitcoin developer Pieter Wuille unveiled two Bitcoin Improvement Proposals (BIP) on May 6th that offer plans that could prove foundational to a possible upgrade to the cryptocurrency. Wuille’s first BIP describes a “new SegWit version 1 output type, with spending rules based on Taproot, Schnorr signatures, and Merkle branches.” While the second describes “the semantics of the initial scripting system under bip-taproot.” Below are most important protocol developments which are being worked on right now, with no firm deadlines when will they get implemented.

MAST

MAST, short for Merkelized Abstract Syntax Trees, proposes to improve Bitcoin by changing how smart contracts are written to the blockchain. In effect, it allows smart contracts to be split into their individual parts. This has several benefits in terms of privacy, transaction size and allowing for larger smart contracts There is no set timeline for its implementation.

Schnorr signatures

Schnorr signatures, named after their inventor, Claus-Peter Schnorr, are a proposal to replace Bitcoin’s current digital signature algorithm (ECDSA) for a more efficient one. The first way they will improve the bitcoin protocol is that they will allow for the aggregation of multiple transaction signatures into a single signature. This would make transaction sizes smaller in these types of transactions, and could reduce transaction’s use of storage and bandwidth of the Bitcoin network by around 25%.  Second, Schnorr signatures would increase of the privacy of multisig transactions by aggregating signatures in these transactions, thereby masking the original signatures.

Bulletproofs

Bulletproofs promise to improve the privacy of Bitcoin by concealing quantities of transactions, while still leaving the sender’s and reciever’s wallet addresses public. They are already implemented on Monero while Bitcoin implementation is still pending and according to Wuille ” “far too premature to propose for inclusion into Bitcoin.” 

Confidential Transactions

Confidential Transactions (CT) would keep the amounts of Bitcoin transactions visible only to participants in the transaction. 

Sidechain Projects

 

Sidechains are intended to allow other blockchains to connect to the Bitcoin network using a separate coin that is tied to bitcoin. This means that each sidechain is a separate blockchain that can have different rules from the Bitcoin mainnet while still remaining connected to it. There are several different sidechain proposals under development currently: Liquid Network, RSK and Drivechain.

Liquid Network

Liquid is a private sidechain, so there is some control over who can access it. The benefits of Liquid are that it allows instant transactions, privacy (Confidential Transactions are built in) and the ability for users to hold Liquid funds outside of an exchange.

RSK

RSK is a sidechain that plans to bring smart contract functionality and near instant payments to the bitcoin network. Like Liquid, it uses a federated system, with custodians tracking the movement of bitcoin between RSK’s network and Bitcoin’s mainnet. It does this by using a token called SBTC (smart bitcoin), which is pegged to BTC at a 1:1 ratio.

Drivechain

Drivechain plans to allow for multiple blockchains to be linked up to Bitcoin’s mainnet. Like RSK, Drivechain sidechains built can be secured by Bitcoin miners using merged mining. Unlike RSK, Drivechain is flexible, and developers could create sidechains tailored to the specifications they want, such as larger block sizes or privacy features. 

Mimblewimble

Mimblewimble is a proposal for a bitcoin-like blockchain which claims to provide higher security than the current Bitcoin protocol, improved scalability, a different kind of cryptographic security and ASIC-resistant mining algorithm to encourage mining decentralization.

Lightning Network

Of course, there is the highly contentious Lightning Network project, the long awaited layer 2 scaling solution that bears a lot of bitcoiners’ hopes and attracts a lot of disputes and detraction from other camps, mostly from bitcoin forks like BCH and BSV. Lightning Network, has seen significant growth last year. The first Lightning implementation developed by Lightning Labs launched in beta in March 2018. 

In a little over a year since being live on mainnet, there are now nearly 4,300 nodes with active channels and about 38,000 total channels. The steeper node growth in the last three months could potentially be connected to the release of the Casa Lightning Node, which made running a node significantly easier for a regular non-technical user. It’s also worth pointing out that the average number of channels per node has been steadily increasing throughout the last year. Also the capacity of nodes and overall network has been increasing over the last year to the current 1,079 BTC (more than $6m) locked up in nodes and channels.

Ecosystem and Infrastructure

The Big Bitmain Fall

Bitmain, on the other hand, has suffered tremendous losses under the leadership of Jihan Wu and Micree Zhan. They had followed Roger Ver’s technological direction to fork Bitcoin into Bitcoin Cash. In August, 2017 Bitcoin Cash successfully forked from Bitcoin and Bitmain had bet big on this fork and technology adding a huge amount of hash power behind the Bitcoin Cash fork. Bitmain had been planning an IPO as well in early 2018. Bitcoin Cash forked again, the IPO was turned down and together with $400 million in losses, Jihan Wu and Micree Zhan are exiting Bitmain.

Institutional Money Is Coming Into Bitcoin

  • Last year, reports emerged that George Soros and the Rockefeller family were beginning to take positions in the emergent crypto asset class, according to Bloomberg. The family’s $26 billion Soros Fund Management was supposedly considering trading digital assets. The Rockefeller family’s VC arm, Venrock, decided to take a different approach by partnering with Coinfund to assist entrepreneurs in launching blockchain businesses. 
  • In the tail end of April, Charlie Lee, the creator of Litecoin, revealed that he spotted Bitcoin and Litecoin trading pairs appear on his TD Ameritrade Think or Swim portal. While some cast this news aside as a joke or glitch, other users confirmed that they too saw “BTC/USD” appear on their accounts on TD Ameritrade. TD Ameritrade has more than 11 million client accounts with more than $1 trillion in assets. The U.S. broker already offers Bitcoin futures trading.
  • Circle, Coinbase, BitGo, Goldman Sachs, Citigroup, Morgan Stanley, and other major financial institutions have either already launched crypto-focused custodian solutions or plan to offer crypto custody in the short-term begin to serve an increasing number of institutional investors in the months to come.
  • In July, Blackrock — the world’s largest exchange-traded fund (ETF) — announced that it has launched a working group to assess the potential of investing in Bitcoin.
  • Goldman Sachs has been making inroads toward crypto adoption throughout the year. Thus, in April, cryptocurrency trader Justin Schmidt was hired by the firm in response to client interest in the space.
  • The following month, Goldman Sachs executive Rana Yared confirmed that the company intends to buy and sell Bitcoin — after concluding the preeminent cryptocurrency was “not a fraud.”

OTC Markets

According to cryptocurrency research group Diar, institutional cryptocurrency trading on traditional exchanges has been diminishing in volume due to BTC being welcomed into major outfit portfolios this year. There has instead been a shift to OTC trading. During OTC market hours, there has been an increase in BTC trading volume by 20 percent, while Grayscale’s Bitcoin Investment Trust (GBTC) volumes were down 35 percent in 2017 vs. 2018 for the same period. It seems institutional traders might be shifting towards higher liquidity OTC physical BTC markets. 

ETF Attempts

The approval of a Bitcoin exchange traded fund (ETF) has been chased by a number of industry players over the past few years. Several crypto companies, such as Gemini and Bitwise, have filed for crypto ETFs, but so far, regulators have not approved any. However, the U.S. Securities and Exchange Commission might be shifting its position. The agency is now more concerned about curbing fraud on platforms that propose ETFs rather than the ETFs themselves. We believe the SEC could soon approve a crypto ETF.

Universities Dipping Their Toes

In addition to big individual investors and backers, universities like Harvard, Yale and Stanford have all invested in cryptocurrency funds. An undisclosed source has revealed that endowments of the respective universities have invested tens of millions of USD into at least one crypto fund.

Regulations

It’s no secret that one of the impediments to institutional investors entering the crypto space is the need for a suitable regulatory framework; hedge funds can’t simply invest their clients’ funds in the same free-and-easy manner as a retail investor. Regulation is not a crypto killer. Regulation will provide much-needed clarity to investors big and small, as well as the entities issuing the coins themselves. People can start to focus on how these assets can best be leveraged to diversify portfolios, transfer money overseas, and improve business models, instead of looking over their shoulders in fear of running afoul of the SEC. With increased regulation, increased adoption will follow, particularly among those for whom due diligence is paramount. Financial institutions will be able to confidently bring these investment options to their clients, pension funds can incorporate cryptocurrencies into their long-term holdings — the applications are endless.

Famous Backers

Jack Dorsey is the CEO of Twitter and has been showing its support for Bitcoin (BTC) and the Lightning Network . Steve Wozniak is known for co-founding Apple, one of the largest companies in the world. Wozniak said that Bitcoin will become the world’s currency. There is another Bitcoin bull in the market, Peter Thiel. The venture capitalist has already bet on Bitcoin and the possibility for it to become a gold-like safe haven. During a conversation with CNBC, he said that he would be long Bitcoin and neutral of everything else.

Tim Draper, a recognized venture capital investor, has been participating in the crypto market for a very long time. He invested in Bitcoin when it was traded under $1,000 and it has also made very bullish predictions for the future of this digital asset. Ashton Kutcher has been an outspoken advocate for Bitcoin and he invested in a sports betting blockchain, UnikoinGold, along with billionaire, Mark Cuban. Joe Rogan said that he is fascinated by the idea, but haven’t given bitcoin his full attention, but he thinks it could really shake up the global economy.

Price Action and Market Shifts

Quick historic overview

Here is a brief history of highs and lows of bitcoin prices, as compiled by colleagues at U.today:

  1. At the beginning of its journey, Bitcoin was worth less than $1.
  2. The first peak was a mark of $30 in July 2011, followed by a fall to $4.
  3. In mid-2013, Bitcoin broke through the price of $200 but rolled back to $120.
  4. An important point was the end of 2013 when the price raised to $1,100. However, the next 2 years were a solid drop for Bitcoin. The bottom was a mark of $240.
  5. The turn happened at the end of 2015, then the stable growth of the coin began. It lasted until the end of 2017 when the price reached a historic high of $20,000.
  6. The entire 2018 was marked by a tremendous fall. Any analysis and forecast turned out to be wrong. Bitcoin reached the bottom of $3,200.
  7. In 2019, new cycle of growth began, and the price exceeded $5,000 again.

Since the start of 2019, bitcoin is clearly most profitable asset class, as indicated by Binance Research.

Market Prediction For Bitcoin Price:

Everybody and their mother made a bitcoin prediction for this and upcoming years. Not everyone’s opinion should concern us, but some forecasts are more valuable than others so we will pick out the most relevant ones below. Let’s take a look at some of these Bitcoin predictions.John McAfee Bitcoin Price Prediction – $1 million by 2020 John McAfee, the eccentric founder of the popular security software and a controversial Bitcoin follower predicted that Bitcoin will hit $1 million by 2020. He also added his own flair to the whole prediction betting to eat his male parts should he fail to be true. He subsequently relativized his bet and you can read more about it here.

Willy Woo

The founder of Woobull.com predicted a bearish momentum in Bitcoin’s price as we head into Q2 2019. Willy expected the price of Bitcoin to bottom in the months of the second part of the year (sort of happened) before entering an accumulation period for

the rest of the year.

“All our blockchain indicators remain bearish. NVT, NVTS, MVRV, BNM, NVM. They are experimental but have served to make very correct calls to date, even when traditional on-exchange indicators were reading to the contrary.” – Willy Woo

Mike Novogratz

The billionaire made his predictions on the price of Bitcoin late last year stating the coin could reach highs of $10,000 by the end of March (missed on this one) and cross its ATH price of $20,000 by the end of the year. The Galaxy Digital founder believes institutional investment from firms such as Fidelity and Bakkt will be key to the surge in BTC’s price.

Fundstrat’s Sam Doctor and Tom Lee Bitcoin Price Prediction

Tom Lee, co-founder and head of research of Fundstrat, believes that the break-even point of mining 1 BTC directly correlates with the price of the cryptocurrency. Tom Lee stated that the BTC fair value is much higher than the current price. The current fair value is somewhere between $13,800 and $14,800 which he believes might increase and reach $150,000 per coin as soon as bitcoin wallets account for seven percent of 4.5 billion Visa’s holders.

Zhao Dong Bitcoin Price Prediction

Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said that you might get a yield of 100 to 200% over 3 years if you invest now.

Anthony Pompliano Bitcoin Price Prediction

In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn’t going anywhere. He stated that BTC might go as low as $3000, after which it will continue being bullish starting from 2019. He enunciated that there is no reason to freak out on the declining price as Bitcoin’s fundamentals are becoming stronger.

Murad Mahmudov

Murad Mahmudov, host of ‘On The Record’, believes that Bitcoin will hit a new all time high sometime in late 2020. Prominent crypto personality and analyst Tone Vays generally agreed in an interview with this statement, adding that there is a 40% chance of seeing a new all time high in 2020. This percentage increases to 45% for 2021.

Wheatley model: $2,352.03

According to a Forbes article, the Wheatley model predicts Bitcoin will be trading at a rather bearish $2,352.03 in 2020. The article explains that the Wheatley model focuses solely on Bitcoin’s demand and also notes that Wheatly and researchers gave a far lower total market cap to bitcoin than the actual cap is ($20 billion is the figure used in their estimation model). Bitcoin’s slow demand growth is why its 2020 price prediction is so low.

Hayes model: $55,931.60

The Hayes model on the other hand predicts a much more bullish trading price for BTC in 2020. This is because that while the Wheatley model focuses on Bitcoin’s demand, the Hayes model focuses on its supply. Bitcoin’s supply is expected to slow as it approaches its supply cap, which should drive up prices.

Conclusion

The current sentiment in the Bitcoin community is positive and technical improvements along with overall ecosystem growth are foretelling a bright future going forward. The technical indicators are signaling an upcoming bullish run and with more people understanding the unique features and advantages of bitcoin over traditional system. While past performance is not a great indicator for future price, the fundamentals underlying Bitcoin may well see it soar in the near future to $20,000 USD crossing its all-time high price.

Article Produced By
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community – both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

https://captainaltcoin.com/bitcoin-btc-price-prediction/

 

Thomas ClaimCo.in

UEFA AlphaWallet to Power Up EURO 2020 Tickets with Ethereum Blockchain

UEFA, AlphaWallet to Power Up EURO 2020 Tickets with Ethereum Blockchain

 

Football fans will have the ability to buy tickets to Euro 2020 using Ethereum. All is possible thanks to UEFA, FIFA and AlphaWallet’s efforts to enact

AlphaWallet is a tokenization firm providing companies with exclusive services of launching their coins. Boosted by the Ethereum network, AW allows users to take advantage of DeFi, DAOs, stable coins and ERC-20 smart contracts. Together with the UEFA, AW plans to bring the crypto fans together with football fans. This will happen through an Ethereum integration, with over 20,000 tokens put on the custom blockchain to back up the tickets.

Victor Zhang, AlphaWallet CEO, noted:

“If we can convert 50% of the digital event tickets into blockchain tokenized tickets, the new adoption number is already greater than the current total blockchain users worldwide (42,290,000 ).”

Victor claims that the tokenization of the world has just started, and the most interesting stuff should start happening later.

Smart Contracts Will Solve Ticket Fraud Problem

The authenticity of the EURO 2020 tickets was somewhat difficult to check in the past. The secondary market’s effective ways of regulation became possible thanks to the Internet. Robust smart contracts functionality enriches users with the ticket buying, tracking, storing and selling system. Since it is automated, it can beat those cheaters who sell fake tickets on the streets. Now, tickets are easily checked via the special Ethereum address. This means that, if the person who bought the tickets wish to re-sell them, they can do it on-chain. The right to own the virtual ticket can be transferred just like the crypto coins.

Mass Adoption Won’t Come in One Moment

According to Victor Zhang, his group will handle only the tech, and the UEFA Executive Sales Agent is going to give the money, the tickets and the approval for everything. They already have the experience, as UEFA was using blockchain to sell tickets since summer 2018. Victor thinks that ticketing may appear to be a good start point for the mass adoption of cryptocurrencies. The AlphaWallet stats show that 28 test customers already used virtual tickets to enter the stadium. Particularly, those were the people who never used blockchain technology before.

Tickets Available via the Ethereum Blockchain

If you want to set up some blockchain-related enterprise, use Ethereum or Ethereum Classic. Both platforms are good for deploying smart contracts, both Turing-complete (ERC-721) and not (ERC-20). As for the AlphaWallet’s pitch, they are working with some secretive agency tied with FIFA. That agency has a goal to create the non-fungible type of coins under the ERC-875 standard. The system will facilitate TokenScript technology. It will allow the ticket holders to send tickets to each other or exchange them for some goods. The system will offer an attendance tracking tool and stability of usually fluctuating prices. The TokenScript protocol written especially for Ethereum is a tool that allows the tickets to function. The tokenization trend is moving forward in 2019: in this year alone, people bought more than 941,400,000 sports tickets using online service.

Article Produced By
Jeff Fawkes

Jeff Fawkes is a seasoned investment professional and a crypto analyst covering the blockchain space. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.

https://www.coinspeaker.com/uefa-alphawallet-ethereum/

Thomas ClaimCo.in

Swiss President Says No’ to Libra Project

Swiss President Says ‘No’ to Libra Project

In theory, Libra was presupposed to be managed by a Geneva-based independent association linking several companies and non-profit group

s.

Swiss outgoing President and Finance Minister Ueli Maurer said on Friday that Facebook’s Libra project “failed in its current form and needs reworking to be approved.”

He said:

“I don’t think Libra has a chance in its current form, because central banks will not accept the basket of currencies underpinning it. The project, in this form, has thus failed.”

Regulators all over the world have been worried that Libra would possibly increment the risk of money laundering and criminal actions through its global cryptocurrency available to billions of Facebook users. In September this year, United States Treasury official Sigal Mandelker stated Facebook’s Libra has to meet the highest standards of regulatory compliance prior to any launch. In the same month, Libra cryptocurrency went on to apply for licensing as a payment system in Switzerland.

Libra Will Need Extra Oversight

Swiss financial regulator FINMA then confirmed that it had received a request for an assessment of how it would classify the Libra project as currently planned. They also said back then that range of services projected by the Libra Association would need extra oversight.

FINMA said:

“Due to the issuance of Libra payment tokens, the services planned by the Libra project would clearly go beyond those of a pure payment system, FINMA said, noting this mean it would be subject to such additional requirements.

FINMA then also added that a project would undergo financial market infrastructure regulation and “would require a payment system license from FINMA.” Let’s not forget that a Swiss payment system is “automatically subject” to the Anti-Money Laundering Act. That means that “under the FMIA, all additional services that increase the risks of a payment system must be subject to corresponding additional requirements. All the potential risks of a Swiss payment system, including bank-like risks, can be addressed by imposing appropriate requirements in line with the “same risks, same rules”.

The extra conditions “would relate in particular to capital allocation, risk concentration and liquidity as well as the management of the Libra reserve”, FINMA said. One requirement for being given a Swiss payment system license would be that the “returns and risks” related to management of the reserve “were borne entirely by the Libra Association and not, as in the case of a fund provider, by the ‘stablecoin’ holders.”

Libra Plans to Maintain AML Guidelines

Libra will definitely need an international strategy from regulators especially regarding the exact qualifications for administering the reserve and its governance. It will also need to discuss the money laundering risks. From Libra they previously said they plan to maintain AML guidelines, which its members will be expected to comply with if they choose to provide financial services on the Libra network.

They said:

“The association will set standards for its members to maintain AML and anti-fraud programs, and to cooperate with legitimate law enforcement investigations. It will be the responsibility of developers building on the Libra Blockchain to comply with the laws and regulations in the jurisdictions in which they operate.”

The association also commented that financial involvement, legal consent and user protection are not competing goals, but more of a work in line with Libra’s focus on offering a simple global currency and financial infrastructure that helps billions of people.

Article Produced By
Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

https://www.coinspeaker.com/swiss-libra-project/

Thomas ClaimCo.in

Bitcoin Price Ragebound Around 7000: Last Crypto Weekly Update of 2019

Bitcoin Price Ragebound Around $7,000: Last Crypto Weekly Update of 2019

The last week of 2019 didn’t really bring a lot of excitement within the cryptocurrency market.

Bitcoin’s price remained trapped within a fairly narrow range between $7,100 and $7,700, while altcoins struggled to claim any new grounds. As a matter of fact, Bitcoin’s dominance stabilized well above 68%, which showed that BTC kept its market share intact, despite the lack of any price increases. Despite the fact that Christmas is over, it’s important to monitor the price going forward. It’s likely that Bitcoin will retest the $7,000 once again and it’s crucial to see what happens there. 

On another note, the week was very intense in terms of news regarding state-backed cryptocurrencies. A few countries, amid which Russia and Korea, said that they are testing their own iterations and have expressed positivity towards the notion. With the new year coming ahead, one of the most anticipated events remains the Bitcoin halving. It will slash the block reward in half and a lot of people believe that this will be a cause for a surge in the price. Meltem Demirors, however, thinks that this won’t be the case, mostly because the market is mainly driven by derivatives trading. If history is any indicator, so far, the price has surged after each halving in the year that followed. 

The week was also full of controversy, as the world’s largest content-sharing platform, YouTube, appeared to have flagged cryptocurrency-related videos and even deleting them. Numerous prominent analysts saw their channels getting flagged, which was a cause for very serious concern. Shortly after, YouTube said that this was a mistake, but a lot of the videos remain deleted. This also showcases the importance of decentralization and one of the most critical benefits that it brings – censorship resistance. In any case, there are a few more days left until the end of 2019 and it’s interesting to see if Bitcoin and the entire market will bring a pleasant surprise or if we will kick off the new year in the red. 

Market Data

Bank of Russia Tests Own STablecoin In A Regulatory Sandbox.

As the trend of state-backed cryptocurrencies continues to steam, Russia is another country that considers the opportunity. Its’ central bank has reportedly started testing digital currencies that are backed by real assets in a regulatory sandbox. 

New YouTube Crypto Ban? The Giant Started Removing Cryptocurrency-Related Videos With No Warning.
The world’s largest content-sharing platform, YouTube, appeared to have restricted and deleted cryptocurrency-related videos and channels. Even though the issue seemed to have been a mistake, a lot of influencers were affected and it showed the censorship that centralized platforms are capable of inflicting at will. 

Unpopular Opinion: Bitcoin Halving Might Not Affect Bitcoin Price, According To Meltem Demirors.
While a lot of people are excited about the upcoming Bitcoin halving and the potential impact on BTC’s price, Meltem Demirors has a different view. She thinks that it won’t affect it as much because the market is mainly driven by derivatives, which suggests that the actual transfer of bitcoins and the demand for them isn’t as much. 

$480K Stolen As Hackers Compromise NULS Blockchain Platform.
The NULS Blockchain platform was compromised this week. Hackers managed to breach their security, stealing upwards of $480,000 worth of NULS tokens. They managed to get away with more than 2% of the total amount of tokens in circulation. 

Happy Birthday HODL: The Bitcoin Long-Term HODLing Strategy Celebrates 6 Years.
One of the most widely used words, funnily, a typo, HODL, turned six years old this week. Interestingly enough, it has become one of the most widely used words in the community and also one of the most profitable long-term investment strategies.    

Ripple Seals $200M Investment To Push XRP’s Utility.
Ripple has managed to cap off the year by raising an additional $200M in a Series C investment round. The money will be used for improving the protocol, as well as to push further the utility of XRP. 

Article Produced By
George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.

https://cryptopotato.com/bitcoin-price-ragebound-around-7000-last-crypto-weekly-update-of-2019/

Thomas ClaimCo.in

Ripple Expands South American Presence With Brazillian Partnership

Ripple Expands South American Presence With Brazillian Partnership

Ripple, the company behind the third-largest cryptocurrency XRP, will be reportedly expanding its presence in Brazil. Just months after it launched new operations in the country, Ripple is expected to announce new partnerships with other major institutions, such as digital banks.

Ripple Expands Brazilian Influence

Ripple is planning to expand its presence in Brazil with new significant partnerships next year, according to a recent report. It states that after signing previous deals with large banks in the country such as Santander, Bradesco, and Rendimento, Ripple wants to start utilizing XRP for remittance payments. Luiz Antonio Sacco, the company’s managing director in Brazil, spoke about the country’s potential for substantial growth in the next few years:“With successive advances in Brazilian banking regulation to facilitate financial transactions, including international, opportunities here will grow greatly in the coming years.”

Earlier this year, Ripple launched operations in Brazil intending to expand further not only in the country but in the whole South American region. At that point, Sacco noted that Brazil is among the leads in fin-tech innovations, and RippleNet’s introduction would allow for “excellent, efficient cross-border payment experiences for their customers.”

Ripple’s Recent Evolvement

The South American expansion is just a part of Ripple’s improvements and news from this year. Back in June, the company made a major announcement for a strategic partnership with money transfer giant – MoneyGram. When it comes down to foreign exchange settlement using digital assets and cross-border payments, Ripple will be a key partner for MoneyGram according to the initial two-year agreement. Furthermore, the blockchain-based company will provide a $50 million capital commitment in exchange for equity within this period.

More recently, Ripple managed to secure a $200 million Serious C funding investment in a round led by large investment companies, such as Tetragon, SBI Holdings, and Route 66 Ventures. The company said that the money will be used to broaden further the utility of its cryptocurrency, XRP, and for improving the blockchain technology – the XRP ledger. Speaking of XRP, despite the positive news from the company behind it, its price appears to be on a declining trend. After reaching the yearly high of over $0.50 back in June, XRP is mostly on the downturn and is currently trading at $0.193, which is a 65% drop in several months.

Article Produced By
Jordan Lyanchev

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain.

https://cryptopotato.com/ripple-expands-south-american-presence-with-brazillian-partnership/

Thomas ClaimCo.in

Bulls Ignition: Ripple’s XRP On The Verge Of Topping Back 02

Bulls Ignition: Ripple’s XRP On The Verge Of Topping Back $0.2

XRP has been weaker than the rest of the major cryptocurrencies,

however, the digital asset might be looking for an explosive move upwards. According to Coinmetrics, the correlation between XRP and BTC has been increasing significantly lately. Bitcoin has been able to break from its recent daily downtrend and has formed a bull flag that was confirmed a few days ago. If the correlation between both assets keeps increasing, XRP could very easily just follow Bitcoin’s steps and break above $0.2 which would mean a break out of the current downtrend. XRP is really facing no major resistance levels until $0.233 aside from the 12 and 26-period EMAs. The RSI continues to be overheated for XRP but it’s not in the oversold area right now, trading volume has been dropping significantly again.

XRP Long Term Still Bearish

It’s important to remember that even if XRP can turn bullish in the short-term, its long-term outlook is still quite bad. The digital currency has crashed over 60% in the last 6 months and has continued its monthly downtrend since December 2017. The weekly chart has also been in a downtrend for the majority of the time. XRP attempted a trend change back in September 2018 with a huge pumping week of +103% that unfortunately led nowhere. The digital asset lost most of the gains in the next 2 months and created another weekly downtrend. The next attempt at a trend change happened in May 2019 with a good amount of followthrough but was still not enough and XRP crashed back down again within 2 months.

Conclusion

XRP’s total market dominance has been decreasing significantly from a high of 11% back in January 2019 to its current low of 4.3%. Although XRP’s future looks quite dull, the digital asset can still see decent gains in the short term. If the correlation with Bitcoin increases further, XRP bulls could look for a weekly trend change as long as Bitcoin continues to post gains.

Article Produced By
Lorenzo Stroe

Skilled Journalist and Financial Technology Writer successful at Creating Unique pieces that tell Intriguing stories. Contact: Lorenzo.Stroe [at] zycrypto.com

https://zycrypto.com/bulls-ignition-ripples-xrp-on-the-verge-of-topping-back-0-2/

Thomas ClaimCo.in

Price Not Going Up After Halving: Roger Ver Throws Jab At BTC Gets Floored By A Bitcoin Proponent

Price Not Going Up After Halving: Roger Ver Throws Jab At BTC, Gets Floored By A Bitcoin Proponent

The crypto world is becoming increasingly a free space where anyone can engage anyone else.

The space is ever busy with interactions and debates, whether hot or moderated. That said, it’s not uncommon when a crypto big shot gets to spar and lose to an opposing fan on the crypto streets. Ask Craig Wright what he got from the hodlonaut. A recent tweet by Roger Ver is now making him look a bit dejected after he got a “no-comeback” response from a Bitcoin supporter named “Bitcoin Cobra.” 

“BTC Won’t Go Up”

Apparently, Roger Ver decided to get on twitter and send out a rather hot tweet regarding the future of Bitcoin (BTC). Unabated, he went ahead to suggest that the upcoming Bitcoin halving event is likely to have no positive impact on the crypto price, an opinion that brought out his bearish sentiments towards Bitcoin. He went on to opine that unlike Bitcoin (BTC), Bitcoin Cash (BCH) is set for a great future.For one, Roger Ver is known as a strong supporter of Bitcoin Cash (BCH), a crypto that retained its name after the BCH hard fork of November 2018 that brought about the Bitcoin Satoshi Vision (BSV) crypto supported by the self-declared Satoshi, Craig Wright. Roger Ver’s tweet didn’t go unanswered. 

Repeat After Me,” Usage!” 

From the look of it, one Bitcoin (BTC) supporter didn’t like the fact that Roger chooses to talk more about price rather than Bitcoin’s impact in the business world. In other words, @CobraBitcoin wasn’t impressed that Roger was pegging Bitcoin’s future on price, so the user decided to post a response to volunteer a little information to Roger. 

Article Produced By
Nick James

Nick is a cool guy with lots of love for technology especially cryptocurrencies and blockchain. He likes to share the juicy nitty-gritty about the latest developments in the crypto world. When he's not immersed in his crypto world and creative mindset, you can find him having fun with friends and family. Contact: Nickjames [at] zycrypto.com

https://zycrypto.com/price-not-going-up-after-halving-roger-ver-throws-jab-at-btc-gets-floored-by-a-bitcoin-proponent/

Thomas ClaimCo.in