Blockchain CEO Predicts Big Things Ahead for Bitcoin This Year 636

The CEO of Blockchain recently appeared in an interview to discuss the current state of the cryptocurrency industry, highlighting institutional interest as the primary talking point.

Peter Smith: We Will See Positive Consolidation Over Q3 Of 2018

In a Bloomberg interview conducted on July 20th, Peter Smith, the CEO of the popular crypto infrastructure firm Blockchain, commented on Bitcoin’s most recent run-up. When asked if the move past the $6,800 and $7,000 resistance levels was the “beginning of something longer term,” Smith said:

“I think over the past couple of years we’ve seen a lot of really rapid increases, and really rapid decreases, then a sort of a slow consolidation of the market. I think we are seeing another slow consolidation in the market now and we are likely to see a very sort of moderate or positive price consolidation over the next quarter.”

In other words, the CEO noted that Bitcoin may begin to see a gradual increase over the next few months, possibly indicating that he sees volatility decreasing in this industry.

Speaking more on this prediction, Smith cited reasons of higher levels of regulatory clarity, which was brought about by the countless developments made over the past year as Bitcoin hit the mainstream.

Blockchain’s CEO: Retail Market Is Slowing As Institutional Interest Picks Up

Additionally, the CEO of Blockchain also brought attention to the fact that the institutional “order flow” has begun to increase, while retail investment and interest is starting to die down. He later elaborated on the retail versus institutional comment, stating:

“I think right now you are seeing a pretty slow retail market and historically the market has been led by retail. You are seeing a pretty big uptick in the institutional market and that’s a lot of the reason why Bitcoin is outperforming.”

Smith expects the institutional space to grow further due to new services and platforms aimed at clients from legacy markets. His own firm launched Blockchain Principal Strategies just a few weeks prior to the interview, which aims to be a one-stop shop for institutional clients looking to get their feet metaphorically dipped in the cryptocurrency space.

However, despite holding a positive sentiment regarding institutional involvement overall, Smith expects for institutional impact to arrive over a longer timescale, pointing out the industry won’t see the full effect of these investors until mid-2019.

Bitcoin Market Dominance Rises to 47% As Altcoins Stumble

As Smith stated in the interview, institutions usually make Bitcoin their first cryptocurrency holding, resulting in an imbalance between capital invested in Bitcoin and in an altcoin like Ethereum. He noted:

“Institutions, when they are coming into the crypto market, usually buy Bitcoin first. And so I expect Bitcoin to outperform relative to other major cryptos in the next 6 months.”

As of the time of press, Bitcoin currently sits at the long-awaited $8,000 price level, while its market dominance figure at 46.9%, which is the highest it has been since mid-December of last year.

Brian Kelly, CNBC’s in-house crypto expert, pointed out Bitcoin’s dominance in a “Fast Money” segment on Monday, stating that Bitcoin has begun to bottom and subsequently move upwards due to the widespread speculation regarding the upcoming ETF verdict. Ran Neu Ner, the host of the CNBC Africa’s “Crypto Trader” show also expects for Bitcoin to continue to see a rising dominance figure as the market awaits the ruling, set to arrive sometime in mid-August.

 

Previous ArticleNext Article

VIMworld Announces Millions in Reward Tokens for Active Users 2055

VIMworld, the leading blockchain-based NFT utility platform, is thrilled to launch a major upgrade to its rewards program. With this latest platform update, users can look forward to an array of new rewards for their actions within the VIMworld ecosystem. With new Leaderboard categories, expanded Leaderboard rewards, monthly giveaways on Gleam, and enhanced transparency in rewards distribution, VIMworld aims to enhance user engagement and provide even greater value to the community.

New Leaderboards

The highlight of this upgrade is the addition of new Leaderboard categories, enriching the competitive spirit within VIMworld. The previous category of Top Trader has been separated into Top VIM Trader, Top EGGs Trader, and Top Companions Trader for the most active users on the Marketplace. Each of these new categories will have dedicated Leaderboards for both VEED and BNB cryptocurrencies. This exciting change means that instead of two trading-related rewards, users now have a total of six rewarding categories to compete in, effectively tripling the available rewards.

Leaderboard Rewards

With these new Leaderboards, VIMworld unveiled updated monthly $POWA payouts for the new Leaderboard categories. Users will have the opportunity to earn significant rewards based on their performance and achievements in the Leaderboards. The new rewards structure aims to incentivize active participation and trading activities within the VIMworld platform. The table below outlines the monthly $POWA payouts for the all Leaderboard categories:

Monthly Giveaways

To reward additional actions on social media platforms, VIMworld launched a month-long giveaway with 1 million VEED in prizes spread across 20 winners. Anyone can enter by following official social media accounts, joining the VIMworld Discord, completing a survey and referring friends. Enter into the May giveaway until June 16 at Gleam.

Reward Visibility

To provide greater transparency and visibility, VIMworld has introduced a new feature within the Dashboard Rewards section. Users will now find a detailed, itemized list of all their VEED rewards. This comprehensive breakdown will showcase the specific sources of VEED rewards, including Companions, Blessings, and other means. This enhancement ensures that users can easily track and understand how they are earning VEED within the VIMworld ecosystem.

VIMworld 101

To get started, users can purchase a new SmartNFT in the Arcade or a pre-owned one from the Marketplace, with a variety of tiers and treasures. With a VIM in hand, users can expand their opportunities to play and earn further by purchasing Boxes in the Store, which contain unique and rare EGGs. Purchase an Incubator and a C-tier or higher VIM to match to start the hatching process which is now available for all users to enjoy.

VIMworld’s new upgrades add more ways to have fun and earn rewards, making it one of the most exciting platforms out there! Interested users can visit VIMworld, join the Discord or check out the Vision Video to learn more. VIMworld’s upcoming releases, which include games, decentralized finance (DeFi) features and greater multi-chain compatibility are just around the corner.

Access VIMworld now

VIMworld is a revolutionary non-fungible token (NFT) ecosystem that creates a space where entrepreneurship and play combine and thrive. At the heart of VIMworld are the VIMs, distinct and unchangeable digital assets that provide an unalterable system of verification. VIMs can incubate Companions from EGGS, which allow users to win instant jackpots, add unique abilities and stack gaming boosts, making VIMworld the ultimate NFT play-to-win-and-earn platform.

To connect to VIMworld and explore all features, download our purpose built crypto and NFT wallet, Nufinetes compatible with Apple and Android devices or desktop of choice. This comprehensive multi-chain wallet can be used across multiple popular blockchains, allowing users to interact with dApps, view NFT collections and store tokens in a secure, slick environment.

Aurpay Will Now Only Process Payments for Cryptocurrencies That Offer ‘True Value’ to Businesses & Consumers 2203

In a significant strategic shift, Aurpay, a leading non-custodial crypto payment processor, has announced it will discontinue support for certain altcoins on its platform. Aurpay is now focused solely on cryptocurrencies that the company perceives to offer “true value.” Altcoins that will no longer be supported include Dogecoin, Shiba Inu coin (SHIB), Bitcoin Cash (BCH), and TRON (TRX). While popular among speculators, these altcoins are seen by Aurpay as lacking the intrinsic value other cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC) offer.

The company states that Bitcoin holds true value due to its status as the first-ever cryptocurrency and its limited supply, likening it to “digital gold.” The decentralized network of Bitcoin, consisting of independent nodes responsible for approving transactions, ensures its scarcity and eliminates the possibility of counterfeiting.

Ethereum (ETH), another cryptocurrency that Aurpay continues to support, is valued for its technological infrastructure. Ethereum, the largest public blockchain at present, supports the development of smart contracts and decentralized applications (dApps). The platform fosters innovation and functionality in the crypto space, allowing for complex, programmable transactions.

Aurpay will also continue to support stablecoins like Tether (USDT-ERC20, USDT-TRC20) and USD Coin (USDC-ERC20, USDC-TRC20), which are pegged 1:1 with the USD. These stablecoins offer the advantage of stability, avoiding the volatility of other cryptocurrencies, and facilitate swift cross-border transactions. They have seen significant growth and adoption in the crypto world, with Ethereum establishing itself as the platform of choice for stablecoin issuance.

Aurpay aims to provide a robust and value-driven service to its users by focusing on these select cryptocurrencies. It reinforces the company’s commitment to harnessing the innovation of blockchain and crypto technology while ensuring decentralization and security for user assets.

Aurpay’s approach offers clarity and assurance to business owners who accept crypto for e-commerce transactions. This decision reflects a broader trend in the cryptocurrency sector. As the market matures, service providers are increasingly discerning in their support for cryptocurrencies, preferring those with genuine utility, stability, and growth potential over those largely driven by speculation.

About Aurpay

Aurpay is a global cryptocurrency payment processor that empowers businesses of all sizes to accept crypto payments. Aurpay’s platform offers short settlement times that maximize payment efficiency and bulletproof security powered by smart contracts, so business owners have little to fear when using its platform to accept crypto payments. Aurpay aims to be on the cutting edge of the crypto payment processing landscape and to help businesses of all sizes to embrace the digital currency revolution.

For more insights and updates, interested readers are encouraged to visit www.aurpay.net.

Globe Thrivers Taps Unlock Protocol to Enable Digital Passports 2073

Unlock Protocol is powering the NFT-based memberships used by Globe Thrivers, the members-only travel community saving travelers significant time and stress when planning trips. The integration makes it possible for members of the Globe Thrivers community to have membership NFTs land directly in their inbox, without the need for a crypto wallet. The memberships unlock discounted airline and hotel rates, verified reviews and recommendations, and exclusive travel experiences across the world. Additionally, members participate in a one-of-a-kind loyalty program that incentivizes travelers and locals to share their favorite hot spots which builds a sense of trust within the community of travelers. By providing valued recommendations and reviews, members earn points redeemable for discounted airfare, hotel stays and more.

“Communities like Globe Thrivers are the perfect use case for the membership technology we are building at Unlock. NFTs provide a way for brands to create connections with their customers that go beyond anything we’ve seen in the travel market before,” said Julien Genestoux, CEO and Founder of Unlock. “Instead of relying on email lists and databases of user information, NFTs allow brands across an entire industry to continuously provide value to their holders by automatically unlocking new experiences, perks, access and anything else brands can imagine.”

“We are excited to announce our partnership with Unlock Protocol. Their platform provides a seamless and user-friendly solution for managing memberships on-chain, which has been beneficial for both our team and members who are new to the Web 3 space, as well as our brand partners. With Unlock, we are able to efficiently manage all memberships, assign email addresses to NFTs, and provide QR codes for easy access,” said Shir Ibgui, Founder of Globe Thrivers. “Additionally, our members can make membership purchases without a wallet and receive their NFTs via email. We appreciate Unlock’s flexibility and exceptional support throughout the development cycle, and we highly recommend them as a valuable partner for any business seeking to create memberships in web3.”

Globe Thrivers was created by CEO & Founder Shir Ibgui and is a one-stop travel guide for wanderlusters, utilizing recommendations from members around the world, from travelers and locals. Members can benefit from sharing photos and lists of their personal experiences and earn points in the process. These authentic moments help build trust and encourage engagement within the Globe Thrivers travel club. By taking memberships on-chain, Globe Thrivers can unlock a much deeper connection with members.

By building on Unlock Protocol, Globe Thrivers makes it easy for members to save time when planning travel, gain access to this insider knowledge, earn discounted airfare and hotels and unlock exclusive travel experiences. In addition to those perks, Globe Thrivers members can become local ambassadors themselves and provide their insights on the best local experiences, restaurants and more in exchange for credits towards discounted airfare, lodging and more.

About Unlock

Unlock is building the web’s new business model by enabling new ways for creators to monetize their content through a decentralized, access control system. Unlock’s solution is an open source, Ethereum-based protocol that streamlines membership benefits for online communities by giving creators control over subscriptions and access to their content, without any middlemen. The Unlock Protocol can be applied to publishing (paywalls), newsletters, software licenses or even the physical world, such as with transportation systems. The web revolutionized all of these areas – Unlock will make them economically viable.

About Globe Thrivers

Globe Thrivers is a members-only travel community that uses blockchain technology to authenticate members and guarantee verified reviews which are incentivized with exclusive perks, saving travelers significant time and stress when planning trips. Their mission is to facilitate authentic experiences by uniting globe trotters with individuals who have visited before and can provide first-hand recommendations. By engaging community members to share, Globe Thrivers builds trust and certainty when travel can be quite unpredictable. Members can choose from their line of hotel partners, brands, and travel companies to ensure they are going to have a one-of-a-kind adventure.

ViaBTC Celebrates Its 7th Anniversary: Tracing the Development of Crypto Mining 1804

Back in the early days of Bitcoin, mining could be achieved using CPUs installed on personal computers. However, as the network grew, so did its processing demands, leading to the need for more powerful mining hardware. In 2010, Laszlo Hanyecz introduced GPU mining code, and subsequently, in 2011, the code for FPGA mining machines was shared on GitHub. By 2012, the mainstream BTC mining machine had evolved to ASIC models, which replaced CPUs, GPUs, and FPGA devices, leading to a significant increase in Bitcoin hashrate, which grew by 360,000,000 times from 2010 to 2012.

As Bitcoin’s hashrate continued to increase, solo mining became increasingly challenging, leading to the creation of the first mining pool in 2010. Today, ViaBTC stands as a top player in the crypto mining industry, marking its 7th anniversary with a celebration of its success and continued evolution.

Mining pools require strong technical capacity, and many pools have struggled to meet the technical requirements of the industry, leading to attacks and eventual shutdowns. Having recognized the immaturity of the technologies and products within the industry, Haipo Yang, an early Bitcoin developer, set out to create a more stable and efficient pool. He independently developed the coding for the ViaBTC Pool, which officially went live on June 5, 2016.

“By creating a stable and efficient mining pool, we aim to provide our users with the tools and functions they need to mine cryptocurrencies with ease and confidence,” said Haipo Yang, Founder of ViaBTC.

Shortly after, ViaBTC introduced the PPS+ payment method, which guarantees stable mining revenue while sharing miner fees, allowing ViaBTC miners to earn more coins than their counterparts in other pools. Mainstream pools soon adopted the PPS+ payment method.

At ViaBTC, technology remains a top priority. The pool has optimized the broadcasting and transmitting process of the BTC network through its independently developed BTC clients, resulting in a lower orphan rate and ensuring stable mining revenue. To date, ViaBTC remains the mining pool with the lowest orphan rate.

Over the years, ViaBTC has continually introduced new functions and tools to enhance its mining services and provide users with faster and more stable computing power. These include the Transaction Accelerator, Auto Conversion, Smart Mining, Hedging Service, Crypto Loans, and Hashrate Fluctuation Notification.

Today, ViaBTC provides mining services to over one million users in over 130 countries and regions, covering 10+ cryptocurrencies, including BTC and LTC. With industry-leading hashrates and a multi-billion dollar mining output value, ViaBTC is one of the top players in the crypto industry and one of the few companies to celebrate its seventh anniversary.

The DCMA Explains Why an International CBDC is the Best Innovation for Store of Value and Medium of Exchange 1767

At the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced the official launch of Unicoin, an international central bank digital currency (CBDC), that can transact SWIFT-like cross-border payments over digital currency rails completely bypassing the correspondent banking system at guaranteed best-priced FX rates and with instantaneous real-time settlement.

Universal Monetary Unit (UMU), Unicoin, symbolized by ANSI Character, Ü, is legally a store of value money commodity regulated by the U.S. Commodities Futures and Trade Commission (CFTC) and can transact in any legal tender settlement currency.

A national CBDC and an international CBDC are vastly different. A national CBDC is merely a digital form of legal tender and carries the same economic reality of its legal tender. If a national legal tender is systemically depreciating in value, so will its CBDC.

An International CBDC is not an unbacked cryptocurrency like Bitcoin and is not a national CBDC issued by central banks. So, what is it and how does it work?

It is challenging for many central banks to maintain monetary sovereignty of its legal tender because global forex markets value a legal tender in relative value to its advanced economic trading pair, such as USDMXN, regardless of the fiscal and monetary policies a government and central bank may adopt.

This trading pair encumbrance in the international monetary system is the reason why most national currencies are not a great store of value and the reason why many emerging market economies are seeking cryptocurrency alternatives.

The problem with cryptocurrencies is that they are too volatile and do not perform like money. Crypto volatility is vastly caused by its limited circulating supply controlled by a few large coin holders, or whales, and an organized number of ‘pump and dump’ traders and market makers who trade up the price of a cryptocurrency with the intent to dump it in large volume once it hits a price target.

The high volatility of crypto is ideal for short-term speculative traders but comes at the expense of the coin not being widely adopted as a resilient store of value and as a medium of exchange.

Unicoin solves the shortcomings of both CBDCs and cryptocurrencies and brings together the best of both worlds into one cryptographic innovation.

Unicoin is a money commodity that can coexist alongside any national legal tender. Unicoin adopts a monetary policy framework with decentralized governance, establishing a digital economic union amongst its participating countries and qualifying Unicoin as a reserve currency for central banks.

Its monetary policies are designed to minimize volatility and to sustain its value better than any fiat legal tender mitigating against and potentially reversing seasonal and systemic local currency depreciation.

For example, if a commodity purchase contract or a foreign direct investment (FDI) is negotiated in U.S. Dollars, and the payor’s national currency depreciates on average ten percent a year, that contract would increasing cost approximately ten percent more each year, $1.1M, $1.2M, etc.

Whereas, if the payor held their money in Unicoin over a one-year period and then paid the equivalent UMU value at the time of payment, that same purchase or FDI contract could cost $500,000 USD instead of $1.1M USD.

The actual USD cost depends on the improved store of value of UMU over the same period.

Unicoin adopts monetary policies, liquidation controls, asset pricing targets, and its own network of in-house market makers to minimize downside volatility and to achieve its asset pricing targets.

Unicoin can withstand buying and selling shocks to its monetary system while maintaining price stability. Unicoin is not sold at the best market price like most asset classes. Best market pricing is another practice that leads to continual price volatility.

Unicoin is always sold at a significant discount to its network market value. This monetary policy enables establishing and controlling the asset pricing of Unicoin over time.

In summary, Unicoin is a low-volatility money commodity with cash reserves, performs like money, and is governed as a sustainable store of value and a medium of exchange. In addition, it functions like a CBDC and complies with all the banking sector regulations for KYC, AML, sanctions, and other requirements.

Unicoin deploys a global localization digital currency public monetary system enabling each central bank to configure their own compliance and money transfer rules. Then, at the time of payment, only the payor and payee jurisdiction rules are applied to enforce compliance.

Unicoin is politically agnostic with no centralized enforcement rules and no centralized surveillance features. Each government and central bank decide on their national and monetary sovereignty rules and configure those rules within the Unicoin Network.

For more information on the DCMA, visit https://dcma.io.

EXBI to Announce New Launchpad Platform 1755

EXBI, a leading cryptocurrency exchange platform, has announced the launch of its new launchpad platform aimed at providing users with access to promising early-stage Web3 projects.

EXBI is taking a strategic shift to offer its users an accessible and transparent investment platform. The launchpad will operate on a centralized model that is well-known within the crypto community, similar to platforms like CoinList. It will provide a simple entry point for investing in promising Web3 projects, even for those who are new to the ICO and IDO scene. The platform will feature educational materials, a low financial barrier to entry, responsive support, transparency, and easy-to-understand projects designed to attract tens of millions of new users to the world of cryptocurrency.

“Based on our 8 years track record of venture investing in the crypto industry, we believe that the market is in great need of quality Web3 projects that offer clear utility and tangible benefits to everyday people. Our launchpad infrastructure will provide the perfect support system for launching new projects that anyone can invest in, regardless of their experience in сrypto.” says Arut Nazaryan, founder of EXBI.

EXBI has already started accepting applications from teams interested in launching their projects on the launchpad. The first token sale is scheduled to be announced in June 2023. In addition to fundraising, EXBI will also provide legal, financial, and marketing support to launchpad projects. Users will still be able to enjoy spot trading and staking on the exchange, with the added benefit of potentially gaining allocations in launchpad projects for the most active traders.

This new venture from EXBI marks an exciting milestone for the company and the broader cryptocurrency industry as a whole. With a focus on transparency, accessibility, and quality projects, the launchpad is poised to attract a new generation of investors to the world of crypto.

To celebrate the launch, the EXBI team has organized a promotional campaign on the Gleam platform. Through this campaign, users will have the opportunity to undertake straightforward quests, earning them XP (experience points) as rewards. A leaderboard will be formed, and the most active participants will be granted the special “Early Bird” status, which may grant access to allocations, exclusive NFTs, project tokens on the EXBI Launchpad, and other rewards in the future!

Join EXBI Community:
https://t.me/exbi_trade

Website:
https://exbi.trade/en?utm_source=telegram&utm_medium=article&utm_campaign=8