Dub 26

GoldMint Opens Up Sale of Crypto Assets, Secured by Gold

· April 26, 2018 · 6:30 pm

GoldMint.io, a pioneering company which hedges a stable cryptocurrency with real gold, has opened up sales of GOLD coins.


What is GoldMint?

GoldMint is a blockchain-based platform powered by the digital asset GOLD, which is 100% backed by physical gold or delivery futures. Therefore, one digital GOLD asset costs the same as one ounce of gold on the Chicago Mercantile Exchange (CME).

GoldMint’s physical gold is stored in the US Federal Reserve System’s banks, as well as in Singapore’s SGPMX custodians. For the sake of assurance, GoldMint fully intends on always making sure that its gold reserves are constantly even to or exceed the number of GOLD assets currently in circulation at any given time.

The project runs on the GoldMint blockchain, is 100% backed by physical gold or delivery futures, can be used as a trust management investment tool for peer-to-peer loans and operations with gold, and is a transparent, fast and secure payment tool.

GoldMint PTE LTD itself is a Singapore blockchain company specializing in gold tokenization. The company successfully completed its initial coin offering (ICO) in 2017 and raised $7 million.

The company operates with two assets: gold-secured GOLD and MNTP tokens, which is used in the GoldMint locker to confirm transactions. Additionally, MNTP token holders get access to preferential commissions for operations with GOLD assets. The company’s tokens are currently traded on Bancor, Yobit, SIMEX, IDEX, Etherdelta.

The Sale is Open

As of April 12, GoldMint users may buy and sell GOLD coins on Bancor using one or more of the 50 supported cryptocurrencies. GOLD is also available on Simex (Singapore International Monetary Exchange and IDEX (Decentralized Ethereum Asset Exchange).

For the first time in history, users can take advantage of the opportunity to buy a stable coin, completely backed by the price of gold, in exchange for cryptocurrency. With the help of the GOLD stablecoin, crypto investors can hedge against the risk of cryptocurrencies falling in an extremely volatile market — which happens all too frequently.

GOLD will also bring a new class of investors into the cryptocurrency market, as precious metals investors previously uninterested in cryptocurrency now have a reason to get involved.

A Difference that Matters

Not all cryptocurrencies and digital assets are created equal.

The key difference between GOLD and other digital assets is that all GOLD coins are actually backed by a physical product — in this case, the most successful store of value in history, gold.

Said gold is purchased under delivery futures on the Chicago CME exchange and then placed in a bank of the U.S. Federal Reserve system. When extreme volatility arises in the cryptocurrency market, GOLD affords cryptocurrency investors the ability to mitigate their risk by investing in a stable coin, as opposed to converting to fiat currencies.

Additionally, GOLD smart contracts ensure that the amount of crypto assets sold is equal to the amount of gold held in GoldMint company.

GOLD coins may be purchased with cryptocurrency at the Bancor exchange and can be stored in your compatible Ethereum wallet. Because GoldMint works on the Ethereum network, it is also compatible with ethereal wallets.

The Goldmint team plans to launch a personal account with a multi-currency wallet, which will afford users the ability to purchase tokens via fiat money, bank transfer, or credit card, in 2018.

If you’d like to learn more about the gold-backed stablecoin, check out GoldMint’s official website, or follow the project on Twitter, GitHub, Facebook, and Reddit.

Are you interested in investing in a stable cryptocurrency backed 100% by real gold? Do you think GOLD is a safe way to protect yourself against the cryptocurrency market’s volatility? Let us know in the comments below!


Images courtesy of GoldMint, Pexels

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Dub 24

Can Buyouts Help Solve the Cryptocurrency Marketplace’s Clutter?

· April 24, 2018 · 5:00 pm

As is the case in traditional business, the cryptocurrency marketplace is a dog-eat-dog competition where only the strong survive. Unfortunately, this creates hundreds of failed projects and millions of dollars in lost value. Can buyouts help transfer that value back into Bitcoin and other major market players?


The Benefits of Buyouts

Not every start-up business can find the success it needs to stay afloat, and even well-established companies go bankrupt. When this happens, buyouts from other companies may help salvage remaining assets for future use and provide many benefits. The same applies to the cryptocurrency space, as well.

For starters, sometimes a company has begun development on a very promising new product or piece of technology, only to have it languish away as the team dwindles and the well runs dry. If a larger business comes in and incorporates the new product or technology into its existing business model, both parties benefit — as does the consumer.

Likewise, some cryptocurrency projects have interesting ideas, but internal issues or a lack of funding prevents its dream from coming to fruition. If another blockchain company could buy out the failed project, the benefits would not be lost to the jungle that is the cryptocurrency marketplace.

Another advantage is the reduction of competition in a space which is supersaturated with the same ideas — and nowhere is this more prevalent than in the cryptocurrency space, where literally thousands of companies are vying for dominance in the same handful of categories. In this case, having a smaller company get bought out by a larger company provides the latter with advantages due to economies of scale, while nullifying the need for a price war and allowing more time and effort to go towards expansion.

Furthermore, successful buyouts do away with duplicate products and businesses offering essentially the same service — effectively cleaning up the clutter. Again, the cryptocurrency marketplace today is the very definition of clutter, especially once one ventures outside the 50 largest projects by market capitalization. Buyouts in cluttered environments, in turn, work to increase profits, as the dominant company is able to offer their products at better price points.

Can Buyouts Work in Crypto?

Buyouts aren’t really a thing in the cryptocurrency space — until now.

One company, in particular, is looking to clean up the clutter and revolutionize the way business is done in the blockchain marketplace. Called CoinJanitor, the project purportedly aims to reduce cryptocurrency market dilution and restore lost value to broader cryptocurrency economy by buying out dead coin holders, community members, and creators.

In essence, CoinJanitor offers everyone involved in a failed project the opportunity to join a successful project with a network effect that the projects they created or supported failed to achieve by implementing a subsequent systematic burn of the coins being bought out.

With a CoinJanitor buyout, everyone wins. Users receive the chance to get value back from the failed coins that can no longer be sold while joining a growing community. Project creators get the chance to help lead a newly created community and put their failed efforts to good use, while the cryptocurrency market as a whole benefits from both an effective culling and the transfer of otherwise-lost value into Bitcoin and other viable cryptocurrencies.

To learn more about CoinJanitor or participate in the upcoming ICO, check out the project’s official website here.

What do you think of buyouts in the cryptocurrency space? Do you think CoinJanitor can help clean up the mess that is the blockchain market? Let us know in the comments below!


Images courtesy of CoinJanitor, AdobeStock

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Dub 22

Home Run or Swing and a Miss? Cryptocurrency Winners and Losers for the Week Ending April 22, 2018

· April 22, 2018 · 5:15 pm

As John F. Kennedy was wont to say, “a rising tide lifts all boats.” Essentially, what benefits one, benefits all. When Kennedy first uttered those words, it was in 1963 and he was talking about the economy. Flash forward 55 years and – as the cryptocurrency market appears to be recovering from a depressing Q1 2018 bear run – the same sentiment is applicable once again.


This past week has been extremely gratifying for crypto community members who weathered Q1 2018’s bear market and made the choice to ‘hodl’ when others were panic-selling. At press time, the total cryptocurrency market cap was just over $394.9 billion – a more than 18% increase from the same time last week.

With the total crypto market cap on the rise, how have Bitcoin and its altcoin brethren fared over the past week? Well, Bitcoin is up roughly 8% – landing at a respectable $8957.95, up from its 7-day low of $8286.88. As to the altcoins? Let’s take a look…

Top 3 Cryptocurrency Winners…

Top 3 Cryptocurrency Winners…

These are the top three best performing cryptocurrencies based on 7-day market activity and with a 24-hour volume of at least $750,000.

Game.com (GTC)

24-Hour Volume: $252,617,000
Gain: 592.80%

Game.com is an ambitious project that combines several elements into a total blockchain-based gaming environment. A combination gaming platform, digital asset wallet, crowdfunding platform, and instant messenger, Game.com is riding high on a rising swell of popularity.

This time last week, GTC was trading at around $0.05 and has climbed to just under $0.35 per token. The sudden spike in value is no doubt due in large part to their partnership with Tron and this week’s announcement that Game.com would be running for a super delegate position in Tron’s upcoming Super Representative vote. A win in this election could not only push GTC prices even higher, but it would give Game.com a seat at the table and a voice in deciding Tron’s future.

Pundi X (NPXS)

Volume: $7,257,560
Gain: 234.72%

Pundi X is a project that aims to make every day crypto usage “as easy as getting bottled water.” It is a POS (point of sale) solution for retail businesses that will make it easy for brick-and-mortar businesses to accept cryptocurrencies in-store.

Earlier in the week, Pundi X’s token (NPXS) was trading at just over $0.0014. On Friday it peaked at an all-time high of $0.0054 before settling down to around $0.0048.

So why the sudden rise in price?

First, the token was recently added to Korea’s Coinrail exchange, which currently accounts for more than 25% of the token’s trade volume. Next was a favorable review of Pundi X’s new POS terminal in this month’s issue of The Nilson Report. Finally – and probably most significantly of all – Pundi X executed its first NPXS token buyback of roughly 200 ETH worth of tokens at a price more than triple that of the then-current market value.

Prices continued to climb in the wake of the buyback but are slowly starting to settle back down. Whether it settles in at a price higher than that of its 7-day low remains to be seen.

XinFin Network (XDCE)

Volume: $899.141
Gain: 201.51%

XinFin is a hybrid blockchain network that combines the power and transparency of public blockchains with the security and speed of private networks. Designed primarily to serve the global trade and finance industries, XinFin has been met with enthusiastic response and successfully concluded their ICO last month.

Since being listed on CoinMarketCap in mid-April, XDCE has been holding steady at around $0.003 per token. Last week, however, things started looking moonish for the cryptocurrency. Trading at $0.0034 this time last week, XDCE reached an all-time high of $0.0168 on Saturday before settling down to around $0.0115 at press time.

The sudden spike in price is most likely largely attributed to XDCE’s upcoming listing on Singapore’s largest crypto exchange – COSS – as well as a 12.5 million XDCE trading promotion. That, coupled with growing interest in XinFin as well as project team that is absolutely doing everything right, could spell continued gains in XDCE’s future.

…and the Top 3 Cryptocurrency Losers

…and the Top 3 Cryptocurrency Losers

Unfortunately, not all altcoins were watching the crypto market through green-tinted glasses this week. These are three worst performing cryptocurrencies based on 7-day market activity and with a 24-hour volume of at least $750,000.

Octoin Coin (OCC)

Volume: $878,826
Loss: -28.96%

Octoin combines crypto trading, mining, p2p exchange, and multi-cryptocurrency wallet functionality into one easy to use platform. The platform’s token, OCC, has been steadily declining ever since peaking at an all-time high of $19.02 in mid-March, however, this past week saw a bit sharper of a decline than in previous weeks. Trading at $3.21 just one week ago, the price has dropped by nearly a third to $2.26 at press time.

As far as what factors could be influencing the price drop, there isn’t much out there that is concrete. The Octoin team are hyping the hell out their platform through a series of mini-conferences and meetups, but there is also a lot of speculation as to the legitimacy of the project. A quick search on Google turns up numerous ‘Octoin: Legit or Scam?’ type articles and their BitcoinTalk thread is rife with investor complaints as well.

Mind you, none of this has been proven, but if I were a betting woman, I’d bet against a recovery for Octoin.

Ormeus Coin (ORME)

Volume: $8,212,730
Loss: -27.56%

Ormeus Coin is a digital money system that is backed by a $250 million crypto mining operation that – according to a February press release – is one of the largest industrial crypto mining operations in the world.

Prices for ORME have been all over the map, ranging from a low of $0.56 in September of 2017 to an all-time high of $3.62 in December that same year. Presently, however, things look quite different. Last Sunday saw ORME trading at $2.58, followed by a blink-and-you’ll-miss-it spike to $3.38 ahead of Ormeus’ global launch party and subsequent Ormeus Cash airdrop. Since then, however, ORME has resumed its downward slide and currently sits at $1.90.

Considering that Ormeus’ crypto operation is reported to be pulling in $6.7 million per month, what gives with the poor token performance?

The decline could be FUD-related. There were allegations on Reddit about market manipulation, but nothing was proven. The more likely scenario, however, is that we’re looking at a selloff in the wake of last week’s airdrop.

Will it recover? Given the team’s active participation within the community and that the mining operation does appear to be legit, I can see this one going back up.

Dragon Coins (DRG)

Volume: $8,404,190
Loss: -26.80%

Dragon Coin (DRG) is the native cryptocurrency of the Dragon Platform, which connects VIP gamer with “junkets”, casino VIP rooms across the globe that host private games and have a system of transferring funds via junket agents.

DRG has slowly been declining since it first started trading in late March of this year and that downward trend appears to be continuing. At this time last week, DRG was trading at $0.975 and it just kept meandering downward to a price of around $0.704.

I honestly can’t pinpoint any one single reason for the decline. The Dragon Coin team seems to be doing everything right, so perhaps it is just post-launch malaise and/or whales dumping.

One of Dragon’s milestones is to launch their own branded junket in Macau. If that happens, I can absolutely see prices going back up to previous highs – and higher.

Do you think that these tokens will continue their current price trends? Let us know in the comments below!


Images courtesy of AdobeStock, iStockPhoto

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect those of Bitcoinist.com. Claims made in this article do not constitute investment advice and should not be taken as such.

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Dub 21

Blockchain Meets Movie Industry as White Rabbit Teams Up with Production Company K5

· April 21, 2018 · 5:00 pm

Blockchain start-up White Rabbit, developers of a browser plugin that allows users to legally stream movies and television series from any open streaming service, has announced a strategic partnership with K5 International, a subdivision of K5 Media Group, a renowned media production company that has produced Oscar-nominated films.


Financial details of the partnership, which was announced in Variety and The Hollywood Reporter, where not disclosed, however, the deal conditions suggest that K5 will grant White Rabbit users access to its library of 50-plus movies while the company’s co-founder Daniel Baur will join White Rabbit’s advisory board. Further details of the details, however, remain undisclosed.

White Rabbit is developing a browser plugin that will recognize any type of streaming content and offer the viewer a chance to directly pay to the copyright holders of said content via secure blockchain infrastructure using the platform’s native WRT tokens. All purchased content will remain available to the user in the Rabbit Hole – the content library – regardless of the viewer’s geographic location.

The tokens themselves will be available for sale during a whitelisting event later this year.

Commenting on the deal, co-founder and CEO of White Rabbit Alan R. Milligan stated:

Such deals show that the conservative cinema industry is becoming interested in innovative technological solutions and that our WRT token will have a very decent real-life application.

Milligan is a renowned filmmaker whose filmography includes award-winning motion picture Letter to the King.

Baur also noted:

I have been actively searching the blockchain space for over a year, looking for companies that can have a massive impact on the film industry. With White Rabbit, I saw a product that properly integrates blockchain and embraces the existing entertainment industry and fans in a unique way.

K5’s portfolio includes films directed by such renowned filmmakers as Andrew Niccol and Tom McCarthy.

Aside from that, White Rabbit has also announced that three specialists from one of Europe’s biggest blockchain companies Blockchangers will join the team. Jonas Therkelson will step in as CTO, Jon Ramvi as lead blockchain developer, and Robin Pedersen as full stack developer.

Milligan remarked:

We are incredibly excited to have K5, Daniel Baur and the Blockchangers team support our mission to ensure a legal, innovative P2P streaming market, offering fans the choice and access they deserve and the industry a transparent and instant monetization model for rights holders, film investors and talent.

White Rabbit was first announced in October 2017. The project is currently being developed with the MVP (minimum viable product) expected to be released in the second quarter of 2018.

Currently, the project holds a $1 million budget partnership program which offers up to $100,000 to any video service that joins White Rabbit.

What do you think of White Rabbit’s new partnership with K5? Let us know in the comments below.


Images courtesy of White Rabbit

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Dub 19

GIFcoin Moon-Bound as Stage Three of Their Token Sale Sells Out

· April 19, 2018 · 5:30 pm

GIFcoin continues to sell out at each stage of their ICO, proving that the public is more than ready to be a part of their profit-sharing revolution.


There’s no denying that online gambling has a strong allure. Having the chance to earn some money from the comfort of your couch? Who would say no to that? It’s also a great way to relax, which is part of the reason that it’s a billion-dollar industry.  In fact, it made over $500 billion in revenue last year, making it one of the top three digital businesses out there.

Finding a platform that wants you to be an active part of this wealth may sound too good to be true, but this is exactly what GIFcoin is hoping to achieve with their innovative profit-sharing business model. Haven’t heard of GIFcoin yet? Well, read on and find out why you should be a part of the platform described by investors as having “the most transparent ICO for 2018”.

Now is the Time to Invest

If you know anything about the crypto industry, you are aware that the markets have been looking a bit red lately. Even so, GIFcoin is performing exceptionally well. They sold out at their private sale, as well as at all three previous stages of their public sale.  There are still some tokens available in the fourth stage, which is currently underway. In addition, investors can look forward to a 20% bonus during this phase.

The bearish market is a great time to invest in GIF tokens as you can use your fiat to buy ETH at a lower price. Just one ETH will get you 10,000 GIF tokens and, if you invest now, that attractive 20% bonus as well!

How Can GIFcoin Make you Money?

ICOs are a booming business, and most platforms are claiming to be revolutionary and trailblazing. However, most of them are not backed by a working and already profitable business like GIFcoin is.

The Gambling Investment Fund (GIF) is backed by VitalBet, a well-established platform boasting over 20,000 active members in 20 countries. They also made more than $3 million in profits during last year. The goal of the GIFcoin ICO is to raise capital to further develop and upgrade this already lucrative platform.

GIF token holders will be able to profit from their potentially value-growing tokens. In addition, as token holders, they will be able to enjoy profit-sharing benefits. They will be liable to receive their share of 80% of VitalBet’s annual net profits. This generosity stems from the platform’s desire to foster long-term mutual growth between themselves and their valued members.

Be a Part of the GIFcoin Revolution

Be a Part of the GIFcoin Revolution

All of the ICO’s previous stages have been phenomenal successes. With a total token distribution of 300,000,000, the platform is well on its way to selling completely out:

  • Private Sale – 10,000,000 GIF – SOLD OUT
  • Stage 1 – 6,400,000 GIF – SOLD OUT
  • Stage 2 – 7,000,000 GIF – SOLD OUT
  • Stage 3 – 7,800,000 GIF – SOLD OUT
  • Stage 4 – 8,400,000 GIF with a 20% Bonus
  • Stage 5 – 92,400,000 GIF with a 15% Bonus
  • Stage 6 – 77,000,000 GIF with a 10% Bonus
  • Stage 7 – 61,000,000 GIF with NO Bonus

Even though interested investors may have missed out on some juicy bonuses, there’s still hope! Contributors can purchase tokens in BTC, ETH, and LTC. Stages one to five also have a minimum purchase requirement which is 0.5 ETH, 0.05 BTC, and 2 LTC.

Transparency is Key

The GIFcoin team knows that being transparent goes a long way in securing investor trust. This is why they run regular live streams and constantly ask their investors for feedback. In addition, they are already working on the next steps of the roadmap even before the ICO has come to an end.

If you’d like to find out a bit more about GIFcoin and their plans for the future, have a look at their whitepaper or litepaper. You can also register to invest, and follow GIFcoin on Telegram.

Do you think that GIFcoin will continue this sold-out trend in all of the remaining ICO stages? Let us know in the comments below!


Images courtesy of Shutterstock, GIFcoin

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Dub 18

What is NAGA Coin (NGC)?

· April 18, 2018 · 5:00 pm

NAGA takes the stress and pain out of managing multiple investment accounts across a multitude of trading platforms by offering a base to meet every cryptocurrency investor’s needs – and it’s all powered by the NAGA COIN.


A Unified Platform

The way things stand today, banks and financial institutions around the world are in almost complete control of financial access – setting the rules and keeping things far from transparent. Because of this, the amount of liquidity present in the virtual marketplace is stymied, and there’s no unified interface providing access to cryptocurrency marketplaces.

However, NAGA – a German fintech company developed by the Naga Group – aims to establish a singular trading platform which will single-handedly facilitate the simple exchange of both stocks and digital assets in a secure and effective manner.

Powered by NGC

NAGA’s trading platform, as well as its overarching ecosystem, will be driven by the NAGA COIN (NGC).

The NAGA COIN is a decentralized cryptocurrency used for both trading and investing in financial markets, virtual goods, and other cryptocurrencies. Because it is used as a unit of account within the ecosystem, NGC is classified as a utility token. Read more about the utility structure of the token in the Medium article published in The NAGA COIN account.

NAGA Coin Ecosystem

All existing NGC tokens were created on the Ethereum blockchain and thus abide by the standard ERC20 protocol through smart contracts. The distribution phase of NGC has already completed, and 77,910,266.15769 NGC tokens were put into circulation. All unsold tokens were burned.

It is the creation of this decentralized cryptocurrency that helps solve issues related to high processing fees and transaction charges caused by unnecessary intermediary interference.

Everything that happens in NAGA’s ecosystem revolves around NGC. The token may be used to pay fees, act as collateral, and serve as the primary currency for all transactions – making it the main driver of the company’s sustainable economy in which demand is ever-increasing as more users, game publishers, and big-money financial institutions flock to the ecosystem.

As noted by the company, additional benefits of holding the NGC token include:

  • Reduced trading fees on NAGA TRADER, as well as on every asset using an NGC account. For example, NGC users will pay 50% less on trading commissions for each trade they perform on NAGA TRADER.
  • Cashback on a per-trade basis performed by NAGA TRADER using an NGC account.
  • Double crediting of copy bonuses on NAGA TRADER using an NGC account.
  • Lower trading fees for every asset listed on Switex.
  • Membership in the Switex Cashback Program.
  • Discounted purchase of ad credits for the Switex and NAGA TRADER AdManager.
  • Community status and free access to paid and premium content.
  • Users also benefit from the digital transformation of the largest industries in the world.

Of course, NGC is also seamlessly integrated into the NAGA WALLET, which affords users the ability to send and receive cryptocurrencies by just using a registered email address – thus eliminating the stress that comes with copying and pasting lengthy cryptographic addresses. NAGA WALLET also offers zero fees on internal transactions, an ICO hub, real-time updates on token prices, instant transactions, multi-currency support, and a built-in exchange.

If you would like to start investing in NAGA COIN, NGC trading pairs are currently being offered on HitBTC, OKEx, CobinHood, and Cryptology. You can also find out more about the cryptocurrency and its ecosystem on NAGA’s official website.

What do you think about NAGA and the NAGA COIN (NGC)? Are you interested in the project’s unified platform and singular cryptocurrency? Let us know in the comments below!


Images courtesy of NAGA

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Dub 17

Verge (XVG) ‘Penetrates’ Market with Pornhub Partnership

· April 17, 2018 · 5:00 pm

Pornhub, a pornographic video sharing website and one of the largest pornography sites on the internet, has officially announced a partnership with privacy-focused cryptocurrency Verge (XVG).


‘Penetrating the Market’

According to an official announcement from the Montreal-founded pornography hub, users are now able to pay for Pornhub’s premium subscription with XVG. The cryptocurrency will also be accepted by popular sister sites Brazzers and Nutaku. Reads the announcement:

The future has come. In our efforts to keep current with our community’s privacy and payment preferences, Pornhub will now be accepting Verge as a means of payment for services like Pornhub Premium and more, on our platforms. Building on Verge’s core values of security, anonymity and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.

Pornhub’s vice president, Corey Price, also told The Verge (no relation):

We’ve been looking at crypto for quite some time […] overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.

Verge - 'Penetrating the Market'

Greasy Palms

Pornhub’s foray into digital currency has been well-received by the Verge community, who have been expecting a revolutionary announcement from the project following the team’s promise “to announce efforts to establish the largest cryptocurrency collaboration to hit the market” and subsequent soliciting of donations.

Though some naysayers may claim that the announcement isn’t a particularly big deal, it is hard to deny that the privacy coin’s acceptance on some of the biggest pornographic websites in the world is a use case worth bragging about — especially for those unwilling to fork over their credit card information for a premium subscription.

Immediately after the announcement was made, however, the price of XVG plummeted from just under $0.12 to under $0.07 — though, admittedly, buying the rumors and selling the news is commonplace in the cryptocurrency space, as speculators look to profit from the FOMO (fear of missing out) of others.

At the time of this writing, XVG is currently trading at $0.08.

What do you think about Verge’s partnership with Pornhub? Do you think it’s an announcement worthy of the hype, or do you find it a bit flaccid? Let us know in the comments below!


Images courtesy of Verge, DepositPhotos

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Dub 16

Samsung Delves Deeper into Crypto Exploring Blockchain for Its Logistics

· April 16, 2018 · 5:00 pm

Samsung Electronics Co. is the latest big name to show a keen interest in the powers of blockchain technology, specifically, how it can be incorporated into their supply chain management processes.


Even though cryptocurrencies may still be getting critiqued, it’s supporting technology is being more readily adopted. The advantages of blockchain such as security and immutability, are major drawcards for companies that rely heavily on record keeping, such as healthcare, finance, and even art.

Blockchain to aid in shipping

However, it is also a viable option for supply chain management, an option that massive electronics corporation, Samsung, is ready to explore. According to Bloomberg Quint, the company’s logistical and information and technology branch, Samsung SDS CO., could use a blockchain ledger to monitor their billion-dollar global shipments sector.

Song Kwang-woo, the blockchain chief at SDS, touched on how the technology could revolutionize other businesses:

It will have an enormous impact on the supply chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation.

A cost-effective way of working

A part of this digital transformation is working towards a paperless way of doing business. Not only are physical documents annoying, they’re expensive too. In fact, according to International Business Machines Corp., the documentation costs for container shipments is more than double that of other modes of transportation.

When it comes to Samsung shipments, this equals a substantial amount of money. For this year alone, SDS projects that the company will transport 488,000 tons of air cargo and one million 20-foot-equivalent (TEU) shipping units. The SDS has said that by implementing blockchain technology, the company could save as much as 20% in shipping fees.

It’s not just about saving money though. Blockchain technology could actually impact on overall customer satisfaction. This is because efficiency associated with this technology could mean a shorter time span between product launches and product shipment. Not only will that keep Samsung customers smiling, it will also give the company a competitive edge over their industry rivals.

Cheong Tae-su, who is a professor of industrial engineering at Korea University, explained a bit further:

“It cuts overhead and eliminates bottlenecks. It’s about maximizing supply efficiency and visibility, which translates into greater consumer confidence.”

What’s more, Samsung appears to be going all-in into cryptocurrencies in general as it recently announced manufacturing mining chips. This move that puts them in direct competition with the Taiwan-based company, TSMC, a preferred ASIC chip supplier to Bitmain.

Samsung joins an ever-growing list

Samsung isn’t the only global company big on blockchain. Mastercard recently announced that they will soon be hiring blockchain experts to help drive innovation with regard to payment solutions.

Governments are also realizing its benefits, with China financially contributing towards blockchain-based startups. In addition, the European Union has launched the EU Blockchain Observatory and Forum, which aims to foster blockchain promotion.

The blockchain business is definitely booming. The US-based research company, Gartner, has predicted that the technology will add $176 billion USD worth of value to businesses by 2025. This number is set to increase to over $3 trillion by 2030.

What do you think of yet another big corporation using blockchain technology? Let us know in the comments below!


Images courtesy of Shutterstock, Bttcoinist archives

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Dub 15

Hong-Kong Based Exchange OKEx Plans to Move to Malta

· April 15, 2018 · 4:00 pm

OKEx, one of the largest exchanges in the world, has announced plans to move to the European island, Malta. This announcement came quickly after a similar announcement made by Binance, one of OKEx’s main competitors.


In an attempt to gain an understanding of the political climate around cryptocurrencies in Malta, OKEx’s executives met with the Maltese government. While many EU countries are taking a standoff-ish, if not downright hostile, approach to cryptocurrency, Malta – which aims to become a ‘global pioneer’ for cryptocurrency – has proven to be extremely welcoming to crypto and blockchain businesses.

Currently, OKEx only offers crypto to crypto trading along with a futures market. OKEx is currently based in Hong Kong, which has probably made it difficult for the exchange to obtain the required licenses to allow for a fiat gateway to be opened in collaboration with banking systems.  However, some suspect that with the move to Malta, that the exchange will open fiat to crypto trading, which will become an essential part of any successful exchange in the near future. 

OKEx CEO Chris Lee stated:

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.

Malta – a Global Pioneer for All Things Crypto

Since the rise of the cryptocurrency industry, Malta has been continually open to accepting companies who are looking for a bit more wiggle room with regard to regulations. As a result of this, Malta has established itself as the crypto and blockchain ‘go to’ locale as more startups and exchanges flock to the country.

Malta - a Global Pioneer for All Things Crypto

Earlier in 2018, Malta’s government announced their plans for a new segment of the government called the Digital Innovation Authority which aims to provide full legitimacy for blockchain and cryptocurrency companies alike.

It is unlikely that Malta will be averse to any legitimate cryptocurrency or blockchain company in the future as their policy plans indicate that they are willing to keep cryptocurrency rules minimal.

OKEx Chief Risk Officer and Head of Government Relations noted:

Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem.

Do you think that the cryptocurrency and related technology industry will flourish in Malta? If not, where else? Let us know in the comments!


Images Courtesy of  AdobeStock, iStockPhoto

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Venezuela Decrees Petro ‘Cryptocurrency’ as Legal Tender

· April 14, 2018 · 5:00 pm

All transactions involving government institutions in Venezuela must now accept Petro — the first ever state-issued cryptocurrency — as legal tender, according to an official proclamation in the country’s Official Gazette on April 9. From that date, every such institution has 120 days to comply.


All Petro Everything

Venezuelan President Nicolás Maduro has ordered all institutions under the government’s umbrella to accept Petro as legal tender.

As reported by Bloomberg, the government of Venezuela has created a National Cryptocurrency Treasury which will be the sole regulator of all digital assets in the oil-rich country. Abrahan Landaeta has been appointed to lead the Cryptocurrency Treasury, while Anthoni Camilo Torres has likewise been appointed as the head of virtual exchanges.

Maduro Dancing to His Own Tune

The decree isn’t particularly surprising, given Venezuelan President Nicolás Maduro’s ultra-bullish stance on his government’s pet project, which he claims has already raked in $5 billion from Chinese, Russian and Mexican investors. However, these numbers come directly from Maduro’s administration, and many are skeptical as to their accuracy.

Venezuela is currently in the throes of severe economic issues, including hyperinflation. As noted by Bloomberg, “The International Monetary Fund forecasts inflation will hit 13,000 percent by year-end, while the economy is set to contract 15 percent.” Meanwhile, extreme food shortages have led to malnourishment and hunger, while unemployment continues to skyrocket. No matter how bullish one might be on cryptocurrency, it’s difficult to see how Petro could effectively solve these problems.

The Role of the Petro

From an objective viewpoint, it’s also difficult to understand why any foreign investor would purchase Petro tokens, other than as a means of circumventing U.S.-imposed economic sanctions against Maduro’s government.

Petro is supposedly backed by the oil-rich country’s natural resource, but some experts claim that oil has yet to be drilled — and the government itself isn’t even in complete control of the nation’s oil-drilling operations. Furthermore, the token’s only use case has thus far been to pay Venezuelan taxes, though it appears that it will soon be used to pay for anything and everything government related.

Cryptocurrency research sites that actually took the time to examine the state-issued cryptocurrency have unanimously labeled it a scam.

What do you think about Petro’s increased importance in Venezuela’s plan to save itself from complete and utter economic collapse? Let us know in the comments below!


Images courtesy of Wikipedia Commons, Bitcoinist archives, Bloomberg.

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