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4 Bitcoin Trends Likely to Dominate 2019

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Now is the time when folks usually get started assessing what the yr forward is prone to convey for more than a few subjects and industries. Bitcoin isn’t any other. Investors and fans will most likely realize a number of developments changing into outstanding. Here are 4 of them.


1. Bitcoin-Compatible ATMs Become Widely Available

Reports point out 2019 would be the yr that Bitcoin ATMs take off in towns around the United States. Chicago not too long ago were given 30 new machines, bringing town’s total to nearly 100, with Philadelphia having roughly an identical quantity.

Those ATMs are only for allotting bitcoin, however there are conventional ATMs in New York that give this foreign money to customers. Interested individuals create accounts with LibertyX, a bitcoin fee supplier. After passing the approval procedure, they can purchase as much as $3,000 value of bitcoin in line with day the usage of their debit playing cards at ATMs.

bitcoin atm

These ATMs may just inspire folks to start out the usage of bitcoin for the primary time or get started coping with the cryptocurrency extra broadly than sooner than. Individuals are familiar with the usage of ATMs to serve their monetary wishes, so it’s now not a large step for them to get bitcoins from ATMs too.

2. More Involvement From Central Banks With Bitcoin and Other Cryptocurrencies

One of the issues folks usually love about bitcoin is that they may be able to use it with no need financial institution accounts. However, in 2019, probably the most bitcoin developments that can turn into obvious is that central banks get started supporting cryptocurrencies via supplementing their gold reserves with them.

During a presentation on the first bitcoin summit in Israel, bitcoin pioneer Nick Szabo defined the reasons why he predicts extra international locations will start the usage of cryptocurrencies, particularly in puts which might be topic to excessive warfare or monetary mismanagement. He additionally believes central banks will begin to complement their gold reserves with cryptocurrencies.

Szabo defined: “There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds, for example. One solution that’s been developed is to have the Swiss government hold it for you – that’s not a trust-minimized solution. The Swiss government itself is subject to political pressures, and so a more trust-minimized solution is cryptocurrency.”

In 2018, Christine Lagarde, the managing director of the International Monetary Fund (IMF), additionally expressed why central banks should issue cryptocurrencies. This pattern would possibly not achieve full-scale adoption in 2019, but it surely’ll turn into glaring that central banks shouldn’t shy clear of bitcoin or the crypto business at massive.

jpmorgan

Just this week, JPMorgan announced its personal ‘cryptocurrency’ dubbed JPM Coin to much criticism.

3. A Push Toward More Bitcoin-Centric Tourism

In May 2013, somebody spent 10,000 BTC on pizza, however a newer pattern is a rise in corporations and localities encouraging vacationers to spend Bitcoins after they commute. In March 2018, Germany’s tourism board started accepting Bitcoin for its services and products.

More not too long ago, an Australian seaside the city in Central Queensland become the first digital currency-friendly tourist town.

When folks commute to other international locations, probably the most first issues they usually must do is discuss with foreign money exchanges. If this pattern continues, folks may just get rid of that necessity and commute only with Bitcoin. Doing that calls for making plans, however it will finally end up being handy for vacationers who don’t need to take care of conventional cash after they’re clear of house.

4. An Increase in Smartphones That Store Bitcoin

A take a look at the plans for long run units made via tech manufacturers signifies there’s a push for smartphones with built-in wallets that retailer bitcoin and different cryptocurrencies. In past due 2018, HTC introduced the Exodus 1, which is a blockchain-focused telephone with a pockets. People may just best purchase the telephone with cryptocurrencies.

HTC exodus 1

Rumors also are swirling that the Samsung Galaxy S10 could have a crypto software wallet by way of a trademarked invention known as the Samsung Blockchain KeyStore.

It’s too early to mention how a hit such telephones could be, however those early adopters may just spark a extra vital pattern if customers choose this solution to {hardware} wallets, as an example. Tech manufacturers watch what competition do and don’t need to wait too lengthy to provide identical merchandise if they appear viable.

[Note: This guest article was submitted by Kayla Matthews]

Do you settle? And what different developments do you notice for Bitcoin this yr?


Images courtesy of Shutterstock

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Colorado Lawmakers Seek Exploration of Blockchain Use in Agriculture

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Lawmakers in the U.S. state of Colorado are eyeing a role for blockchain technology in the agricultural industry.

Four representatives and senators from the state jointly filed the bipartisan house bill 1247 on Friday, proposing that the commissioner of the Department of Agriculture assemble an advisory group to study the potential applications for blockchain technology in agricultural operations.

Several blockchain use cases were identified by the lawmakers, including improving traceability of products “from farm to shelf,” controlling inventory and monitoring in-field conditions such as weather and soil quality.

Maintaining records for production and transportation equipment, verifying data and certification of organic products, tracking and ordering resources such as fertilizer and seed – all using blockchain – are also some of the other areas that could be studied by the group.

As proposed, the advisory group would eventually report back to the general assembly with its findings and recommendations for any legislation by Jan. 15, 2020.

The prospect of improving agricultural operations through blockchain technology is starting to see widespread interest across the globe.

The area of supply chains is seeing particular attention, with numerous projects having launched to investigate the tracking of products such as coffee, meatmilk, fish and more.

Last month, French President Emmanuel Macron made a strident call for increased use of data technologies such as blockchain across the EU to boost the agriculture industry and address concerns over food traceability following the Polish meat scandal.

And, back in October, the four biggest agricultural corporations, popularly known as the “ABCD” – Archer Daniels Midland Company, Bunge, Cargill, and Louis Dreyfus – were also looking to blockchain and AI to bring the global grain trade into the digital age.

Colorado agriculture image via Shutterstock

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Banking Startup Launching Visa Card That Lets You Spend 7 Cryptos

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Banking startup 2gether is launching a prepaid Visa debit card that allows users to spend cryptocurrencies.

In an announcement, 2gether said customers will be able to use the card to pay with either euros or any of the following seven cryptocurrencies: bitcoin (BTC), ether (ETH), XRP, bitcoin cash (BCH), EOS, Stellar (XLM) and litecoin (LTC). The card “instantly” converts the cryptos to fiat currency and, it said, and can be used fee-free by customers in any of the 19 eurozone nations.

The company said the card would address the hurdles that come with making payments directly with cryptocurrencies. “Currently, spending crypto is a long and difficult process involving exchanges, personal keys, and lots of waiting,” it said.


2gether customers passing know-your-customer (KYC) procedures can also manage their balances in an Android and iOS mobile app that also lets them buy, sell and and hold cryptocurrencies. The firm said purchases are offered at “no mark-ups to exchange prices.”

Following a beta launch in Spain, the firm is now expanding across the eurozone. While it did not provide an exact date for the arrival of the service, it said that users can now download the app in expectation of the launch.

From March 27, the firm also plans a pre-sale of its native token “2GT” via the app, aiming to raise €5 million (or $5.65 million). All EU citizens can participate, it said.

“To date, there has been no consumer-owned, tangible application that connects crypto and the mainstream market,” said 2gether CEO Ramón Ferraz. “We’re proud to be one of the first companies in the crypto space launching a token sale with an already finished product.”

Founded in 2016, Madrid-based 2gether says it is advised by KPMG and A.T. Kearney, and takes the mission to “dramatically improve the personal economies of customers” using technologies such as big data and blockchain.

CEO Ramon Ferraz and Visa card images courtesy of 2gether

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Crypto is Breaking Out, But Bitcoin (BTC) Still Needs To Surmount $4,400

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Crypto Breaks 1Yr+ Downtrend

Over recent weeks, the crypto market has embarked on a stellar rally. While some have described the price action as a “bull trap” or something of a similar nature, some evidence is pointing towards the fact that this market may be on the verge of a long-term rally, or at least a long bout of sideways movement underscored by a bullish trendline. The fact that Bitcoin (BTC) recently surpassed $4,000 has only somewhat cemented this theory.

Nik Patel, a popular content creator in this space, recently took to Twitter to lay out his thoughts on the market. Citing the recent movement seen in the value of all digital assets, he noted that this sum has finally broken out of a 15-month downtrend resistance line, and is holding well above a short-term uptrend.

Patel, much like many other crypto traders, then touched on the volume profile, explaining that the steadily rising increase has him slightly enthused. And with that, he concluded that more likely than not, bears are currently in a stage of disbelief, potentially setting a precedent for a further move to the upside. He adds that this ticker’s daily chart “does look bullish for the market.”

But, it isn’t exactly that cut and dried. Firstly, the cryptocurrency market capitalization (CMC) still remains under its 200-day moving average, which has acted as a pseudo-resistance in this bear market and a pseudo-support in 2017’s rally. To surmount this level, CMC would need to surpass ~$145 billion or so, currently 10% above current levels.

In a separate tweet, Patel touches on this, explaining that yes, we won’t be seeing all-time highs soon and that this budding market remains rangebound despite the casual trendline break.

Bitcoin Needs $4,400

In his most recent blog post, he touched on Bitcoin specifically, explaining what levels traders of the flagship cryptocurrency should watch in the near future. He notes that while there was a “bullish continuation” of last week’s positive-leaning momentum, and that BTC is holding above some key short-term supports, traders would be remiss to call for the moon.

Patel explains that Bitcoin needs to close above $4,400 on solid volume to confirm that it is not rangebound, setting the stage for a further move to the upside. But, considering that BTC topped out its last rally at around $4,200 or $4,300, there may be some key resistance levels in the region to move past.

Filb Filb, a preeminent trader, made a comment of a similar nature just recently. He explained that above $4,400 has a huge void in volume, and Bitcoin could thus move drastically higher from there if that auspicious level is reached.

Title Image Courtesy of Descryptive.com Via Unsplash

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Coinbase Pro Has Good and Bad News Regarding Fees for Traders

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Coinbase Pro is changing its fee structure later this week, with bottom tier traders seeing a hike and higher value clients paying less.

The San Francisco-based cryptocurrency exchange announced the news in a blog post on Friday, saying that, starting March 22, market makers and takers who fall under the pricing tier of up to $100,000 will be subject to total fees of 0.40 percent, as compared to up to 0.30 percent (taker only) currently.

The $100,000 to $1 million tier will stay with the current total fee of 0.30 percent, but that will be shared between makers and takers, while currently takers pay the full fee. The $10 million to $50 million bracket also sees the 0.20 percent total fee unchanged, but split between makers and takers.

For other tiers, though, there are fee reductions in store. Above $100 million and above $1 billion, total fees are being reduced by 50 percent, while tiers in between are benefiting from cuts of 20-30 percent (see image below). All tiers now see makers taking some of the fee burden.

The new fee structure is designed to “increase liquidity by reducing the delta between maker and taker fees,” Coinbase said.

Economist and trader Alex Kruger set out the changes in a tweet with the following comprehensive table:


Coinbase further announced that its Pro service, and the institution-focused Prime platform, will no longer support stop orders.

“All stop orders must now be submitted as limit orders and include a limit price. All currently open stop market orders will be canceled on Friday, March 22 @ 6:00 pm PDT,” the exchange added.

Both limit and stop orders are orders to buy or sell an asset when its price moves past a specified level. However, stop orders cannot be seen by the market until the trade has occurred.

Both Pro and Prime will also introduce a 10 percent market “protection point” for all market orders, according to the blog post, meaning that market orders that move the price in excess of 10 percent will “stop executing and return a partial fill.”

“Protection points help prevent large orders from causing more than 10% slippage,” the exchange said.

Coins image via Shutterstock; table courtesy of Alex Kruger

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Israeli Bank Policy Should Not Have Shut Down Bitcoin Mining Firm’s Account, Court Rules

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An Israeli court has ruled in favor of a Bitcoin (BTC) mining company after a local bank closed its account over money laundering concerns. Israeli daily business news outlet Calcalist reported the development on March 17.

Israminers, which sued Bank Igud (the Union Bank of Israel Ltd.) in May 2018, had faced problems with cash flow due to the bank blocking deposits which it said was against its terms.

Following a lengthy appeals process, a Tel Aviv district court judge argued that the bank’s policy on cryptocurrency clients was too broad, and should not include automatic rejections.

“I believe that the sweeping policy, which does not distinguish between different types of activity, scope of activity and different types of customers — in the field of digital currencies — is unreasonable,” Calcalist quoted judge Limor Bibi as saying.

At the same time, however, Bibi said banks were within their rights to refuse deposits which originated from cryptocurrency trades.

The episode continues the patchwork regulatory attitude to cryptocurrency trading as it impacts the legacy banking system. As Cointelegraph has reported, various banks have taken issue with servicing businesses and private investors who trade cryptocurrency.

Often, the hostile stance contradicts other activities at the same bank: United Kingdom-based Barclays, for example, also shut down accounts prior to developing a relationship with major cryptocurrency exchange Coinbase to conversely speed up deposits and withdrawals.

In the case of Union Bank, it would appear senior executives had benefited from education in the emerging sector, with local startup Bit2C conducting a seminar on its workings last November.

Earlier this month, a dedicated committee from Israel’s securities regulator issued final recommendations for governing the cryptocurrency economy, something which could see banks’ treatment become more uniform in future.

“The committee recommends considering adjustment of the existing regulation to create more suitable regulatory infrastructure for this trading activity in order to better cope with the risks incurred in this activity,” an accompanying report explained.

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