Connect with us

Bitcoin News

Crypto Trader Cumberland Upgrades from Skype to Wall Street Interface

Published

on

Cryptocurrency marketplace maker Cumberland is modernizing how it handles over the counter (OTC) trades with shoppers.

Announced Tuesday, the unit of economic buying and selling large DRW has unveiled a so-called single-dealer platform referred to as Marea, permitting institutional traders to engage with Cumberland via a screen-based interface, slightly than negotiating trades by means of telephone or Skype

As such, the brand new portal brings Cumberland in step with the way in which OTC buying and selling has been performed on Wall Street for more than a decade in conventional asset categories like shares.

“This is a single-dealer platform and a way for our counterparties to interact with our markets, execute, trade and also view their trading history via a platform,” Bobby Cho, Cumberland’s international head of buying and selling, advised CoinDesk, including:

“We looked at what other asset classes have done in the past, and that was an evolution from voice to chat to kind of on screens.”

To get started, the brand new OTC platform will maintain buying and selling of 10 well-liked cryptocurrencies and in addition interacts with back-office reporting, ably treated by means of a tie-up with business reporting consultants MG Stover.

The preliminary 10 marketplace pairs come with zcash, Sterllar lumens and the U.S. dollar-linked stablecoin TrueUSD, after which the plan is to provide the opposite cash Cumberland trades, stated Cho.

“We are hoping to expand that into all the coins that we trade here, so upwards of about 40 coins, and then expand across the different settlement fiat currencies we also settle in – dollars, Swiss francs, euros, GBP and other currencies like that,” he stated.

“So it’s a little bit bit other from exchanges the place you’re set to what the change gives you from simply an order guide viewpoint. In the long run, we are hoping this opens up our counterparties to business any asset that we permit towards both any fiat forex or another crypto that we provide.”

Research and again workplace

Also to be added to the portal is the analysis Cumberland started generating in-house remaining 12 months, Cho stated.

Meanwhile, Marea integrates with back-office business reporting and reconciliation of positions on the finish of the day, stated Cho, “whether that’s through a spreadsheet that’s downloadable or through the user interface.”

His crew wasn’t going to try to construct a “full-stack solution for front and back office in a silo,” famous Cho.

To lend a hand with the method, 3rd birthday party fund directors had been introduced on board, akin to MG Stover, which lately products and services over 80 crypto-dedicated hedge price range.

Matt Stover, CEO of MG Stover, stated this comes to easy ideas like getting a business affirmation this is time-stamped with the best amount and ensuring price range have right kind books and document.

“We take best practices from the private fund administration space and apply these to digital assets,” he stated. “We are really trying to institutionalize the digital asset space.”

Bobby Cho symbol by means of CoinDesk Consensus archives

Like what you learn? Give us one like or proportion it in your pals
original post…

Bitcoin News

In Light of Flexa, Gemini and Spedn App News, Litecoin’s Charlie Lee Looks for Pay with LTC Addition

Published

on

In Light of Flexa, Gemini and Spedn App News, Litecoin's Charlie Lee Looks for Pay with LTC Addition

In Light of Flexa, Gemini and Spedn App News, Litecoin's Charlie Lee Looks for Pay with LTC Addition

Just a few years ago, cryptocurrency was a far-fetched idea regarding the replacement of the current monetary system.

However, the internet has boomed to the extent that most people are living their lives online. From online shopping to the sharing economy’s services such as requesting and paying for a cab or a hotel room to mention a few, online payments are a thing now. It’s no wonder big corporations are collaborating to embrace cryptocurrency.

A good example was the recent merger between Gemini and Flexa, which left many crypto enthusiasts elated. The two companies combined to enable the easy delivery of micro payments to merchants using digital currency.

As such, shopping at major stores such as Lowe’s and Nordstrom, and making your payment through cryptocurrency will be possible. However, all consumers will have to download the Spedn App first.

What cryptocurrency can you use?

With the app, you can make payments using Bitcoin Cash, Bitcoin, Gemini Dollar, or Ether. Litecoin missed out on the merger because the crypto giant is not among the coins the Spedn App supported. The merger between Flexa and Gemini has make online transactions using cryptocurrency easier, which contributes to the growth of digital currency and its absorption into society.

Litecoin founder Charlie Lee did not take being left out easy and reacted by tagging Flexa co-founder, Trevor Filter in a tweet. In the tweet, Lee rallied followers to unite in the push let the Spedn App allow users to make payments using Litecoin at GameStop, Whole Foods, and many other outlets.

Trevor retweeted the Litecoin founder’s message and included the message, ‘retweets don’t equal endorsements…or do they?’

Litecoin is Bitcoin’s younger brother

As the fifth biggest cryptocurrency at the moment, Litecoin might just be the next digital currency to be supported on Spedn.

Their influence in the crypto world does not go unnoticed. In a bid to make the most out of the issue, Litecoin Vice President of Nationwide Merchants Solutions sent a tweet as well. His tweet read:

‘The reason Litecoin should be added to Flexa is because #PayWithLitecoin is all about spending and supporting merchants that accept LTC!! It has nothing to do with tech, it’s about sound money, freedom, and supporting crypto adoption.’

Litecoin growing faster though

Litecoin might be under Bitcoin’s shadow but the former has tripled in price recently while the latter has only doubled. As such, being hosted by Flexa’s Spedn App means the millions of people who use Litecoin can enjoy the recent merger enabling merchants to make purchases using digital currency.

This will enable people to save money seeing credit cards slash a lot of cash during transactions. Last year alone, $90 million was spent on credit card processing fees.

Conclusion

People have already made purchases using the Spedn App and digital currencies such as GUSD, BCH, ETH, and BTC. Hopefully, LTC will join the party soon and bring along its millions of users. All crypto users with the app can make payments at selected outlets by displaying their specific code, which gets scanned to complete the transaction.

Flexa and Gemini have made it possible, now it’s up to digital currencies to educate and mobilize their users.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Arnold Schwarzenegger Falls for Snapchat but Should Investors Pile In?

Published

on

By

By CCN: Arnold Schwarzenegger, star of “The Terminator” (and nothing else lately), found himself the victim of an assault at an event in South Africa.

While attending “Arnold Classic Africa” in Johannesburg, which features a wide array of sporting events and physical activities, the 71-year-old “Last Action Hero” was filming participants when he received a flying kick to the back by an unknown assailant. The actor fell forward as the perpetrator was immediately tackled by security while yelling, “Help me!”

[embedded content] [embedded content]

“Oy, My Back!” Don’t Interrupt a Cyborg’s Snapchat with Physical Violence

Schwarzenegger was later escorted off the premises by a team of bodyguards. He thanked them for their efforts and posted to Twitter that he was okay and that he was glad the “idiot didn’t interrupt his Snapchat.” The assailant was later identified by security members as someone who has pulled similar stunts in the past. Schwarzenegger says he will not be pressing charges and that he plans to attend the rest of the event this coming Sunday. It’s probably safe to say that “he’ll be back…”

Snap’s Stock

Whether he meant to or not, Schwarzenegger gave a commercial for Snap, Inc, the company behind the messaging app. Not that Snap’s stock needed his help. SNAP shares have about doubled year-to-date and are up 7% over the last 12-month period. The company got a boost last week when Facebook reportedly decided to close its Direct messaging app on Instagram, which went head-to-head with Snapchat. Investors have been celebrating ever since.

Snap continues to operate at a loss but boasts a whopping 190 million daily active users.

Snap, Inc., Snapchat

| Source: Yahoo Finance

SnapChat’s Reputation Could Use Some Work

While the stock has been rising, SnapChat’s reputation could use some work. Schwarzenegger is all too familiar with how this feels.

Snapchat seems to create something of a hierarchy amongst friends through its use of “Snapchat Streaks,” which occur when two individuals speak or text with each other for a minimum of two straight days. Having more streaks allegedly makes younger account holders feel “more popular,” and mark a powerful kind of “social acceptance” amongst users.

It seems younger generations also do foolish things with their accounts. This includes sharing their login credentials on other social media pages and using what’s called Snap Map, which allows them to be tracked and located physically. Snap Map can dissolve one’s privacy and make users vulnerable to outside parties they’d otherwise think twice about being associated with. Snap might want to ask Facebook how privacy issues ended for them.

[embedded content] [embedded content]

Schwarzenegger lives in the public eye. He’s got an event to promote, so his use of Snapchat is understandable. For others, however, one can’t help but wonder if the social media platform presents more problems than it does power and “decent exposure.”

For investors, Snap’s stock appears to have some tailwinds for the foreseeable future now that Facebook is bowing out, which happened even before “The Terminator” star gave them a plug.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Bitcoin Bull Market Gets Everyone Hyped, Parabolic Trend Currently Present – Is It Too Soon Yet?

Published

on

Bitcoin Bull Market Gets Everyone Hyped, Parabolic Trend Currently Present - It It Too Soon Yet?

Bitcoin Bull Market Gets Everyone Hyped, Parabolic Trend Currently Present - It It Too Soon Yet?

Last weekend’s Magical Crypto Conference was and continues to be highly spoken of. One event that took place was Charlie Lee’s success in selling unique Litecoin collectibles, which has grabbed the attention of many, as reported by Bitcoin Exchange Guide (BEG).

Another interesting thing about the Magical Crypto Conference, which pokes fun at the current bull market, is the presence of an actual bull! As per Bloomberg, a real-life bovine named “Little Dude” supposedly greeted crypto fanatics. With faith in Bitcoin (BTC) either never lost or regained, many have been trying to understand what’s to come for BTC in the future.

According to the CEO of crypto exchange, eToro, Yoni Assia, “A lot of people say, “party like it’s 1999,”” which might be a reference to 2017’s ultimate and popular bull run. That year saw BTC experience a 1400% increase in prices alone, with many calling it “digital gold,” writes the news platform.

This month has treated BTC well, as its price has seen a relative spike in prices. Interestingly, the current shape of its trend is an upward trending parabola. This was noted in one of BEG’s recent posts, where crypto trader, DonAlt noted that if BTC’s prices don’t go below the 6,400 mark, then the bull market is here for stay.

bitcoin-bull-market-price-charts

bitcoin-bull-market-price-charts

News outlet U Today also reported on the presence of parabolic trends. In particular, it was noted that Chief Analyst at eToro, Mati Greenspan believes that it’s normal for BTC to experience such a move. He supposedly gave the example of BTC’s 85% drop in value as travelling down a parabola.

As per U Today, Greenspan trusts that:

“The market is at the moment about to begin a new rise, the start of which the community has witnessed recently.”

As for the recent drop in BTC, Greenspan does not seem to be concerned by it as he believes it is a natural part of growth.

Bitcoin’s Recent Value Goes Down: Crypto Bulls and Bear At Tug of War for Future BTC Prices

In a recent Bitcoin Exchange Guide (BEG) report, the reasons why Bitcoin’s (BTC) transaction fees increased were expounded upon. Of the three reasons, one that primarily stood out was that of the sell order took place on BitStamp, ultimately driving down BTC’s value to the lower end of the $6,000 ranges.

As it turns out both the crypto bulls and bears have been standing on opposite ends of the pole in terms of what’s to come for BTC’s prices reports CCN. In particular, it was noted that bulls trust BTC to reach 5-digit price levels (i.e. USD10,000), while bears trust that it will go down again before it can go back up.

CCN documented a number of tweets from known crypto fanatics and experts taking on their respective positions. Here’s an overview of what has been shared.

The first is crypto trader from Twitter, DonAlt who shared the following tweet:

To which, blockchain innovator, Vinny Lingham retweeted and shared, “I concur”. A conversation also seemed to have stirred up in the comments between Twitter user, Tom Gloor and DonAlt, where the former asked at which point or resistance level DonAlt thought the prices will go back up considering the downward trend.

In response, he said that said downward trend no longer exists and that it is “at worst sideways”.

In addition to his $10,000 claims, DonAlt also shared a graph of Bitcoin taking on an upward parabolic trend, noting that this is a sign that the bull is for here to stay given that it holds at the 6,400 mark and does not dip any further.

The next who has shared his sentiments is Tim Seymour from the CNBC Trading Desk, who has since shared that:

“You actually are above that trend line, which probably takes you up to around $6,800. You got to a 95 nine-day RSI. Even for bitcoin, that was extreme.”

Finally, we have derivatives trader and analyst, Tone Vays who has since described the event as resulting in a “beautiful short trade.” He also noted that, in his opinion, buying “along the way” isn’t the best strategy but waiting until its possible low before buying more.

As for what he predicts in terms of BTC’s value to come, here’s what he was quoted saying:

“I actually think we are going to go down and I think we are going to go sub-$6,000 on this one […] I even think we’re going to go below $5,000 as well.”

If the aforementioned is the case, this would be a great opportunity for those who’ve missed the BTC train when it was sitting at below $6,000 in most of 2018.

With all this being shared, where do you stand? Are you for crypto bulls or bears? Let us know why in the comments below.

<span data-sheets-value="{"1":2,"2":"

Bitcoin’s price is $7,284.49 BTC/USD exchange rate today. The real-time BTC market cap of $128.99 Billion currently ranks #1 with a chart dominance at 56.25%, daily trading volume of $6.05 Billion and live coin value change of BTC 2.78 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$7,284.4893 change ~ 2.78%

Coin Market Cap

$128.99 Billion

24 Hour Volume

$6.05 Billion

24 Hour VWAP

$7.33 K

24 Hour Change

$202.4735

var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD");

"}” data-sheets-userformat=”{"2":14849,"3":{"1":0},"12":0,"14":[null,2,0],"15":"Open Sans","16":11}”>Bitcoin’s price is $7,284.49 BTC/USD exchange rate today. The real-time BTC market cap of $128.99 Billion currently ranks #1 with a chart dominance at 56.25%, daily trading volume of $6.05 Billion and live coin value change of BTC 2.78 in the last 24 hours.

<span data-sheets-value="{"1":2,"2":"

"}” data-sheets-userformat=”{"2":513,"3":{"1":0},"12":0}”>Latest Bitcoin Price Updates and Real-Time News Analysis

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

John McAfee Emerges, Reportedly Says Americans Are ‘Hated Universally’

Published

on

By

By CCN: In a new interview with Newsweek, John McAfee surfaced to discuss living abroad and what he’s learned about the global perception of Americans. After recently going dark, he told Newsweek “we’re hated universally.” According to him, the reason most American tourists don’t pick up on this fact is that they’re a source of income for the people and places they visit.

America: Hated Universally

“I have traveled around the world. Everybody hates America. Do they show it? No. If you’re a tourist, you’re never going to see it. Why? If you’re a tourist you are a source of income for that country. You’re never going to see the truth. Well, I’ve lived in these countries, and I’ve seen the f***ing truth. We’re hated universally. We interfere in affairs that we do not understand for our own benefit….”

McAfee, who is wanted by the U.S. government for tax fraud, is currently running for president. The software mogul invited this attention from federal authorities when he openly flaunted his tax evasion just after the new year. Later that month, federal authorities issued an indictment. While felons are legally allowed to run for president, it’s unclear if McAfee would be able to assume the office with a standing warrant hanging over his head.

Can a Fugitive Even Run for President?

Since 2000, the Justice Department has abided by the opinion that it cannot prosecute someone in the highest office.

This past week, rumors spread on Twitter that authorities captured McAfee.

The @officialmcafee account has since dispelled these rumors:

McAfee isn’t losing sleep over his situation with U.S. authorities and has no idea what it will take for him to return home.

“I don’t have a clue. I haven’t thought about it yet. I don’t address problems until I’m ready to actually do something. First of all, get a bunch of lawyers. Secondly, come back, I don’t know.”

McAfee’s Brashness as an Asset

McAfee wants you to know that he doesn’t care what you think of him. This is unusual for someone with political aspirations but certainly not new. McAfee draws the line at what is written about him, saying:

“I’m just being me. I’m not going to change me to be untrue or rather false or restricted while I’m trying to make you be unrestricted. That makes no sense. No, we should all be unrestricted. We should all give a shit nothing about what people think or say about us. We should give a shit about what’s written about us. We give a shit about our impact on the world, if we do something, which is absolutely us. No. I could care less about that, sir. I’m not creating a brand, I’m not creating an image.”

The security mogul says he has untold numbers of people working on his campaign in the U.S. and hundreds of people working in foreign countries for him. The multi-millionaire, for all his “not giving a sh*t,” is a Twitter celebrity. He likely wields little impact beyond that for the majority of the voting public.

[embedded content] [embedded content]

Might as Well Vote for Satoshi Nakamoto

A serious proponent of Bitcoin and blockchain technologies, McAfee throws off very little actual expertise on the subject. Here is his recent assessment of Ethereum, the second-most valuable cryptocurrency and the most-used platform for smart contracts:

McAfee also seems to believe he knows the identities of Satoshi Nakamoto. He previously said he would reveal Satoshi’s true identity to prove that Craig S. Wright is lying. However, on apparent legal advice, he chose not to disclose the identity, believing that it would further complicate his problems with the U.S. government.

Raw, gifted, and eccentric, John McAfee could be the type of leader who’d sufficiently “drain the swamp” because he holds no allegiance to any part of it. Unfortunately for him, his prospects are even less likely than those of virtually all Democrats currently running campaigns.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Amazon

Amazon Patent Casts Light on Plans to Create Proof-of-Work Blockchain Analog

Published

on

Retail behemoth Amazon has received a patent for generating Merkle trees as a solution to the proof-of-work (PoW) algorithm, a document confirmed on May 14.

Amazon, which has taken an increasing interest in blockchain technology in recent times, now appears to be targeting development of a specific variation of the instrument.

Specifically, the patent targets Merkle trees — a data verification tool — to constitute the work required in a PoW setup.

PoW is the algorithm used in bitcoin (BTC) and some other major cryptocurrencies such as litecoin (LTC), dogecoin (DOGE) and monero (XMR).

“This document describes techniques for using the generation of Merkle Trees as a solution to a proof-of-work challenge,” the patent reads.

The exact nature of Amazon’s plans remains unclear. The patent document does not reference specific uses within a cryptocurrency or blockchain, continuing uncertainty over the company’s stance on the wider cryptocurrency phenomenon.

As Cointelegraph reported, rumors Amazon was preparing to take a direct interest in bitcoin, for example, have repeatedly sparked a frenzy within the crypto community, each time culminating in nothing.

At the same time, others consider it only a matter of time before an integration occurs. In February, Changpeng Zhao, CEO of exchange Binance, claimed Amazon would ultimately have no choice but to issue some form of cryptocurrency.

“For any internet (non-physical) based business, I don’t understand why anyone would not accept crypto for payments,” he said.

Late last month, Amazon Web Services publicly launched its enterprise blockchain setup network, based on Ethereum (ETH) and Hyperledger technology.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement

Recent Posts

Copyright © 2019 The Crypto Report