Dub 29

SEC Deals Another Blow, Temporarily Suspends Trading at Bitcoin Generation

The US Securities and Exchange Commission (SEC) took another step backward from Bitcoin this morning by suspending all trading in securities of Bitcoin Generation (BTGN), the first publically traded cryptocurrency exchange. 


The suspension will take place from 9:30 AM EDT to 11:59 PM May 10. The SEC announced that this will be a temporary suspension of trading in the securities of Bitcoin Generation, a publically traded cryptocurrency exchange from Bartlesville, Oklahoma.

Purportedly behind the suspension are key concerns about the accuracy and validity of information BTGN has put in the marketplace. Specifically, the regulator points to public statements over the viability of a bond BTGN allegedly acquired from a UK-based entity.

Moreover, the amount of BTGN’s outstanding common stock and promotional activity have been called into question. The Securities and Exchange Commission is also concerned over the impact that its promotional activity has on the market. There are even doubts over the lack of public information regarding BTGN’s financial state. 

us securities exchange commission

Trade and Face Consequences, Says SEC

The SEC has made it clear that any shareholder, prospective purchaser, or broker-dealer should take the above-mentioned concerns very seriously. They should be extremely cautious when reviewing the information available, as well as any subsequent information issued by the company.

Moreover, all brokers and dealers should understand that no quotation should be entered into even after the suspension is lifted unless it strictly complies with the provisions of Rule 15c2-11. Brokers and dealers who enter quotations that violate the rule in any way will face “prompt enforcement action.” 

Bitcoin ETF

More Anti-Bitcoin Attitude from Regulators

While the fate of Bitcoin ETFs still hangs in the balance and many cryptocurrency companies remain uncertain about their futures, the SEC marks yet another hostile action against Bitcoin.

In October of last year, the U.S. regulator also suspended securities trading at the American Retail Group, Inc. (ARGB) over false cryptocurrency-related claims. 

What do you think of the SEC’s suspension of Bitcoin Generation? Let us know your thoughts in the comments below! 


Images courtesy of Shutterstock.

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Dub 28

Binance Chain Launch Sees Developers and Entrepreneurs Reconsidering Ethereum

Last week, Binance announced the launch of Binance Chain, its native Blockchain platform that will facilitate the issuing, exchanging, and usage of digital assets. Apart from the fact that Binance Chain opens a new world of possibilities for cryptocurrency projects, the BEPs protocol on Binance Chain also shows some significant difference Ethereum’s ERC-20 protocol that currently dominates the crypto space. 


For instance, the BEP2 standard makes it possible to issue crypto tokens that can be pegged to any other altcoin as opposed to the current standards that only pegs tokens against ETH or BTC. The Binance chain also includes other features such as minting, burning, transferring or freezing tokens.

Below is a list of existing projects that have migrated to the Binance Chain since its launch:

  • BNB
  • NOW
  • MITH
  • PHX
  • AWC

Binance Coin (BNB)

It goes without saying or special expectation that Binance Coin (BNB) has been migrated from Ethereum to the Binance chain as the native cryptocurrency on the platform. Binance Coin on Binance Chain will serve the same purpose that Ethereum serves on Ethereum network to pay for network transactions among other things.

BNB tokens, originally an Ethereum-based ERC-20 token is now being migrated to become a BEP2 token powered by the Binance chain. People who currently own ERC20 BNB coins are expected to send the ERC20 tokens to a new Binance Chain deposit address. Binance with then convert their ERC20 tokens to the new BEP tokens automatically.

Last week, Binance announced that it has burned 5 million ERC20 tokens and allocated native BEP2 tokens to wallets on Binance Chain. The old BNB ERC20 tokens were burned to manage supply on both Ethereum and Binance networks. However, trading of BNB on Binance Chain won’t start until the first batch of BNB has been converted and there enough liquidity to support trades.

ChangeNow (NOW)

ChangeNow, a cryptocurrency exchange that facilitates the anonymous exchange of tokens has announced that its NOW token will now be issued on Binance Chain and that it will be listed on Binance DEX. ChangeNow choose Binance Chain because it offers a strategic advantage that complements how ChangeNow facilitates token swaps without charging transaction fees.

ChangeNow went for a hybrid arrangement, leaving half of their tokens on the Ethereum blockchain, while moving the other half onto the Binance Chain. ChangeNow will allow its holders to burn their ERC-20 tokens, and exchange them for a BEP2 compliant version for the foreseeable future.

Binance’s founder and CEO, Changpeng Zhao has also expressed his support for having the NOW token clinching the title of the first token to be listed on Binance DEX.

CZ also commented on ChangeNOW being the first to issue their token on their chain, the true decentralized way:

Mithril (MITH)

Mithril (MITH) is also migrating to Binance Chain. Mithril is a decentralized social media platform that rewards people for creating content though an ecosystem where content creators and curators are reward with MITH tokens. In a blog post published last week, Mithril revealed that it is migrating its project to the Binance chain to provide its users with an opportunity to experience the security, intuitive user interface, and speed of the Binance DEX platform.

Mithril notes that “Binance Chain’s focus on usability, security, along with the incredible speed of one-second block times, made migrating to the Binance Chain an important strategic initiative for us this quarter.”

Deposits and withdrawals of MITH tokens on Binance exchange will be suspended for the 12-hour during which the migration will be initiated. Afterwards, users can withdraw their MITH tokens to BEP2 compliant wallets as a precursor to trading the coins on Binance DEX.

Red Pulse Phoenix [PHX]

Red Pulse Phoenix [PHX] has also announced that it is migrating a major portion of its token ecosystem to the Binance Chain. Red Pulse Phoenix is both a platform that connects researchers with report-consumers as well as a token for managing IP protecting, Proof of creation, and Proof of Ownership among other things.

As part of the migration, Red Pulse Phoenix will launch a new BEP2 token with ticker PHB for the Binance Chain ecosystem. It also plans to eventually migrate its NEP-5 PHX tokens to BEP2 PHB tokens. The old PHX tokens will continue to be tradeable on Binance.com pending the migration and the new BEP-2 PHB tokens will be traded on both Binance.com and the Binance DEX.

Binance users who currently hold PHX on Binance.com can expect that their PHX tokens will be migrated to PHB and the total token circulating supply of PHX + PHB will remain the same in line with Red Pulse’s original tokenomics for market-driven trading price and market capitalization.

Atomic Wallet (AWC)

Atomic, a multi-asset non-custodial wallet that implements cross-chain Atomic Swaps across 20 Blockchains and tokens has been announced as now of the very first projects that will be migrated to the Binance Chain.

Atomic has revealed that its upcoming Atomic Wallet will provide full support for Binance Chain and BNB Coin while its AWC token will be listed on Binance DEX. However, Atomic will keep its current ERC-20 AWC tokens while maintaining the new AWC token powered by Binance’s BEP2 protocol. To manage the tokenomics, Atomic will burn 50 million AWC ERC-20 tokens representing 50% of its current total supply on Ethereum.

Interestingly, users will be able to swap between both the ERC-20 powered AWC tokens and the BEP2 AWC tokens.

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Dub 27

How Legit Are Bitcoin Lotteries, Really?

Some websites have begun offering Bitcoin lotteries. If you’re thinking about trying your luck with them, here are some things to know first.


The Legality Varies Based on Where You Live

Bitcoin is still largely unregulated. However, many countries started setting rules to regulate Bitcoin gambling, including lotteries. It’s smart to see what the laws in your country are before getting started.

Look for Bitcoin Lotteries Offered By Regulated Gambling Sites

Prior to entering a Bitcoin lottery, read the website’s fine print and determine whether you’re dealing with a regulated provider. If so, that means the site must follow the gambling regulations of the respective company, and it might give you some recourse if something goes wrong when attempting to collect winnings.

One of the questions most often on people’s minds is whether Bitcoin lotteries are legitimate. You’ll have better luck finding a regulated one if you look for regulated providers. Keep in mind, though, that many Bitcoin gambling sites get regulated in Curaçao, a place with looser regulations than many other nations.

A Bitcoin lottery site called Kibo Lotto took that approach in late 2018. Crypto-Games.net also operates a lottery site that appears to have ties to Curaçao based on a logo in the site’s footer, as does Bitplay Club. One potential advantage to Bitplay Club is that it promises “provably fair” games through algorithms that show transparency.

There are also sites, like Yet Another Bitcoin Lottery (YABTCL) with no indication of regulation. Playing there arguably raises the risks.

Most Bitcoin Lotto Games Have Familiar Instructions

In states that have traditional lottery programs, such as Virginia, it’s easy to find databases that give people the information they need to know to start playing.

For example, Virginian adults can play daily lotto games, as well as jackpot games. There are also instant-win games, such as scratcher cards. Most of the Bitcoin lottery sites provide similar offerings. So, you shouldn’t need to spend much time learning how to play.

Lottoland Launches World’s First Regulated Bitcoin Lottery

In 2017, a gambling site called Lottoland attracted attention for creating what it advertised as the first regulated Bitcoin jackpot. When playing the Pick 6 game offered at Lottoland, people have a 1-in-7 chance of winning a prize. The system set up there is a good example of a well-known lottery game structure. People mark their chosen numbers on an electronic ticket.

Play the World’s Biggest Lotteries with Bitcoin at LottoPark

Few Long Established Sites

While researching Bitcoin lottery sites, it becomes clear they often don’t have staying power. Three sites mentioned in media sources (BTCFreeLotto.com, 10XBTC and World Super Lotto) have since stopped operating. Similarly, Kibo Lotto, the site mentioned earlier, is still in the coming-soon stage according to its website.

There’s also a mobile lottery ticket app site called Jackpocket that reportedly started offering Bitcoin as a method of paying for lottery tickets in 2016. However, there are no newer mentions of that option in the media or within the Jackpocket homepage or help database. In that case, Jackpocket itself is more established but seems to have moved away from dealing with Bitcoin.

Play With Caution

The information here emphasizes why you should be exceptionally careful when playing Bitcoin lotteries. Plus, watch out for related social media posts. In one recent incident, hackers took over the official Twitter feed of the South African cricket board and used it to try and interest people in a Bitcoin lottery.

Lotteries require people to weigh the risks with the possible rewards, and doing that is especially necessary with the Bitcoin varieties.

Have you tried any of the Bitcoin lotteries or is simply holding BTC the best strategy? Let us know below!


Images via Shutterstock

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Dub 26

FedEx Calls To Mandate Blockchain For International Shipping

FedEx CIO, Rob Carter, believes that mandated blockchain standards for international shipping will lead to widespread adoption within the industry. This would also enable authorities to better track goods’ provenance, and help combat the trafficking of counterfeit or illegal goods.


Digitizing The Paper Trail

Carter was speaking during a panel discussion at the Blockchain Global Revolution Conference. Moving a package internationally requires an awful lot of documentation, he explained, some of which can be as important as the package itself.

While this was traditionally paper-based, even digitized documentation transfers occur via 60-year-old technology, with no real-time data. The industry-wide adoption of a standardized blockchain could provide a global solution, and a level playing field, away from proprietary systems. Said Carter:

We’re not an organization that pushes for more regulatory control, but there are times regulatory mandates and pushes can be incredibly helpful.

Working Together To Define Standards

FedEx has joined forces with competitors, UPS and DHL Express (all members of the Blockchain in Transport Alliance), to hammer out standards for such a system. Currently, though a company like UPS can manage single supply chain transactions, these break down when dealing with real-world scenarios with multiple shippers.

A company may use DHL to ship components to Germany. The assembled part may then ship to Latin America via UPS before the fitted part travels to Japan via FedEx. A standardized blockchain would enable all of the relevant information to be shared between all parties and different national authorities.

Stemming Flow Of Counterfeit, Dangerous, and Illegal Goods

Just this month, the White House highlighted the need to combat trade in counterfeit goods, estimated to have a value of half a trillion dollars annually. Using a permissioned blockchain would create a permanent ledger, and the additional use of IoT sensors and RFID tags could give real-time feedback on transit conditions.

Blockchain Technology is Shaping the Future of Shipping

All authorized entities, from shippers to government agencies, to customers, could track packages, potentially all the way back up the supply chain.

FedEx Logistics CEO, Richard Smith, explained that the government’s concern with this was that blockchain had not been widely adopted. His response to which was:

You’re the government. You can mandate that it’s widely adopted.

Gov’t To Mandate Industry-wide Blockchain Adoption?

FedEx believes that this is the quickest way to modernize and streamline the industry, meeting customers’ increasingly complex cross-border shipping, transportation, and brokerage needs. Additionally, it would provide a way to help customs and border agents to achieve their goals, regarding illicit goods flow.

Shipping has long been one of the industries with high hopes for the introduction of blockchain based solutions. A standardized and mandated system could see one of the first cases of mainstream adoption.

Will FedEx be one of the first shipping giants to successfully use blockchain tech? Share your thoughts!


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Dub 25

Tether Supply Hits Record High – Here’s What Bitcoin Did Last Time This Happened

Bitcoin price has room for immediate 12 percent growth, according to the latest figures showing current availability of major stablecoin Tether (USDT).


USDT Printing Peaks

Bitcoin price after correcting from its 2019 high of $5620 earlier this week, currently trades just under $5500.

At the same time, USDT production stepped up in April to almost reach its highest-ever level of $2.83 billion April 25.

As Bitcoin entrepreneur Alistair Milne noted on social media Thursday, the last time more than $2.8 billion worth of USDT tokens was in circulation was October 2018, at which time BTC price held at around $6250.

Tether production and reduction have traditionally impacted on Bitcoin price performance. As Bitcoinist previously reported, sudden ‘printing’ of USDT induces volatility in Bitcoin markets.

Since April 8, the USDT supply has increased by more than one third from its previous level of $2.08 billion.

Overall this month, BTC/USD 00 has jumped by a broadly similar amount – at press time, 32 percent since April 1.

Sending Bitcoin Back Over $6k

Tether has frequently come in for criticism over its printing activities, pressure increasing in recent months after officials appeared to quietly remove promises that all tokens were backed by US dollars.

Having billed itself as the opposite of fractional reserve banking, the new descriptions of USDT being supported by unspecified “reserves” drew predictably undesirable comparisons.

Nonetheless, the potential room for growth compounds already strong sentiment among commentators that Bitcoin price can only go up, not down, from current levels.

As Bitcoinist reported earlier this week, some of the industry’s best-known names have attributed high probabilities to the concept that the price of bitcoin has definitively bottomed.

Specifically, that ‘bottom’ came in December last year, when upheaval among developers of altcoin Bitcoin Cash caused BTC/USD to drop by almost half to $3100.

Going that low again, analyst Willy Woo concluded this week, is just 5 percent likely.

Not Out of the Woods Yet, But…

Buoying the bulls are factors centered on technical and adoption signs. Bitcoin economic activity, Bitcoinist noted this week, is around 30 percent higher than during the cryptocurrency’s all-time highs of $20,000 in December 2017.

Despite its lengthy bear market the following year, Bitcoin is nonetheless recovering strongly within the context of those highs.

The behavior sets Bitcoin further and further apart from altcoins, which have overwhelmingly lost more versus their best-ever price and broadly failed to recoup the losses in the interim.

Ethereum (ETH) is currently down 88 percent against Bitcoin’s 72 percent, while third-largest asset by market cap Ripple (XRP) is still down 90 percent.

What do you think about Tether supply versus Bitcoin price? Let us know in the comments below!


Images via Shutterstock, charts.cointrader.pro

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Dub 25

New Poll Reveals Italy As The Most Bullish European Country For Bitcoin

A new bitFlyer poll that sampled the opinions of 10,000 respondents across ten countries in Europe revealed a high percentage of Europeans, particularly in Italy and Norway, who say cryptocurrencies aren’t a fad.


Europeans Are Bullish On Cryptocurrencies

According to the details of the Google Survey carried out by bitFlyer, 63 percent (more than two-thirds) of Europeans believe cryptocurrencies will still exist by 2029.

Of the ten countries covered in the poll, participants from Norway showed the highest level of confidence in cryptocurrencies as 73 percent believe virtual currencies will still be around in ten years’ time.

French responders had the least confidence of the lot with only 55 percent expressing the belief that cryptos will last the next decade.

But Many Don’t Think Bitcoin Will Last

While the survey suggests Europeans are generally bullish on cryptocurrency as a whole, that enthusiasm didn’t extend towards Bitcoin. According to bitFlyer, the survey involved seven possible responses to the question “do you think Bitcoin will still exist in 10 years’ time.”

Only 49 percent of participants said that believed Bitcoin would last the decade. Italy had the highest percentage of Bitcoin believers with 55 percent while France once again occupied the rear with 40 percent.

Furthermore, only seven percent of the participants said Bitcoin will exist as a security or investment tool. Commenting on the patterns observed in the result, Andy Bryant, the COO of bitFlyer said:

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility but is also a direct impact of the constant media attention that is associated to its volatility.

Poll results aside, Bitcoin continues to outperform the rest of the cryptocurrency market combined. Recent upward gains in April have dampened most of the ground accumulated by altcoins during so-called ‘altseason.’

On the technical side, Bitcoin continues to process greater value transactions that all altcoins combined and even those with lower transaction fees. Security and network effect reign supreme.

From Hype to Legitimate Asset Class

On the whole, the results of bitFlyer’s Euro Poll are in line with the emerging sentiment of cryptocurrencies moving from hype to legitimate asset class. Earlier in April, an IMF Twitter poll showed more than half of responders saying that cryptos will become mainstream within the next five years.

Since 2018, there has been a considerable uptick in institutional involvement in the cryptocurrency market. From endowment funds taking investment positions to multinational conglomerates looking to establish vital crypto-based services.

The growing consensus among analysts is that the next crypto bull run will emerge on the back of a strengthened asset class as against the hype-driven speculative play that characterized the 2017 bull market.

These analysts point to the emergence of a robust Bitcoin market and technical fundamentals, as well as the decline of the ICO market.

Do you think Bitcoin will continue to be king of crypto? Let us know your thoughts in the comments below.


Images via bitFlyer, Shutterstock

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Dub 23

Why Moving to Texas Could Give Bitcoin Miners Maximum Profit

Flaring, a common practice of burning off natural gas that can’t be efficiently captured and stored has reportedly reached record levels in the state of Texas. Let’s look at why Bitcoin mining would be the perfect solution to capture this energy ‘waste’ and transform it into sound money. 


Texas ‘Energy Waste’ Rises 85%

According to a recent Bloomberg report, America’s Permian Basin, a large sedimentary basin located in the southwestern part of the country, is producing so much natural gas that at some point producers had to burn some of it off.

This process is referred to as “flaring” and it’s carried out when it makes more sense to burn the gas than to efficiently capture and store it. As oil production in the region surge, so does flaring.

The report also outlines that at the end of 2018, producers were burning off more than enough fuel to meet the entire residential demand of the whole state of Texas. Compared to last year, the amount of gas flared in the Permian has increased by about 85 percent.

A Problem in Need of a Solution…

Speaking on the matter was Scott Sheffield, Chief Executive Officer at Pioneer Natural Resources, who said:

It’s a black eye for the Permian Basin. […] The state, the pipeline companies and the producers — we all need to come together to figure out a way to stop the flaring.

The main challenge in front of the industry is that there are not enough pipelines to get the gas to the consumers. This is also why, at some point, producers were actually paying their customers to take the gas.

Besides pure financial issues, however, flaring is also undoubtedly causing a lot of environmental damage. The process is also producing serious amounts of carbon dioxide, which has reportedly contributed more than any other driver to climate change between 1750 and 2011.

texas oil gas bitcoin mining

…Which Already Exists

As Bitcoinist reported earlier in March, the solution that the state of Texas is desperately looking for might already be here: mining bitcoin.

A project, headed by oilman and bitcoin entrepreneur Stephen Barbour, has embarked on tackling the issues of excessive oil and gas production and the consequential flaring.

Barbour has installed a generator to a shipping container full of mining rigs and placed it at a remote oil field in Canada. Its sole purpose is to convert natural gas into electricity and to power the rigs. In order for the machines to operate 24/7, the unit is using about 400 cubic meters of natural gas per day.

Of course, the investment needed to buy and convert a regular shipping container into a facility of the kind can round up at $130,000 before factoring in the price of mining rigs.

Cryptocurrency Mining

However, apart from tackling the excessive waste of natural gas (which will save money), it would also result in highly profitable mining of bitcoin since the energy would not only be free, but producers may even pay miners to utilize it.

Barbour says bitcoin mining enables transforming energy that would otherwise go to waste into “financial freedom.”

What’s more, the mined bitcoin can then be used toward environmental conservation efforts, improve local infrastructure, or just about anything else.

Given that there are no other foreseeable solutions apart from the constant structuring of additional pipelines, this does sound like the perfect idea for Texas and bitcoin mining investors to look into.

Can Bitcoin mining help Texas capitalize on its ‘energy waste’? Let us know in the comments below!


Images courtesy of Shutterstock, Bloomberg

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Dub 22

Think Your Altcoin Will Beat Bitcoin ROI? Then Don’t Look at This Chart

Bitcoin dwarfs every other altcoin when it comes to return on investment (ROI) since initial exchange listing, data shows. Had you threw in just $100 bucks into BTC in 2010, you would be a millionaire today.


Bitcoin ROI Shows Why They’re Called ‘Altcoins’

A new visual graph from DataLight perfectly illustrates just how impressive Bitcoin ROI (return on investment) has been over the past decade.

Buying just $100 USD worth of Bitcoin in mid-2010 would have netted you a cool $1.3 million today. That is, if you managed to ‘hodl’ instead of ‘sodl’ your precious bits until today.

By comparison, every other cryptocurrency has been dwarfed by BTC when it comes to ROI since being first listed on an exchange.

Granted, when it comes to trading on exchanges, Bitcoin has an almost 3 year head start even on Litecoin, one of the oldest ‘altcoins’ and the first to use the Scrypt hashing algorithm. But for those banking on the ‘silver to Bitcoin’s gold’ to beat Bitcoin’s returns anytime soon may be out of luck.

Certainly, Litcoin has seen some impressive rips in recent years. However, the price of Litecoin has had a much different trajectory while being at the mercy of BTC market cycles.

For example LTC/USD peaked at around $35 in November 2013. These same price levels then repeated in July 2017….and again in January 2019. This is more reflective of speculative, pump-n-dump behavior than a (secondary) store of value.

Bitcoin, on the other hand, stands out  as it continues to post higher highs after every bubble making it the perennial leader of cryptocurrencies today.

Ethereum (ETH) 00 has been the best performing altcoin since its exchange debut in 2015. One hundred bucks into Ethereum would have netted you roughly $68,000 today at around $170 per ETH. Though, undoubtedly, this figure would be much higher at Ethereum’s all-time high of nearly $1,400 in January 2018.

Bitcoin-branded forks like Bitcoin Cash, meanwhile, have fared even worse, actually depreciating in value since their inception.

Bitcoin Apples to Altcoin Oranges

More recently, Bitcoinist highlighted the stellar performance of Binance Coin (BNB) 00, which has skyrocketed in value since launching in mid-2017. In fact, it has become the first cryptocurrency to surpass the January 2018 all-time high.

At the same time, comparing in-house digital tokens like BNB (and pretty much every other ‘alt’ with a foundation or a company behind it) to Bitcoin is like comparing apples to oranges.

In fact, every single altcoin is paired against bitcoin by default for a reason. Admittedly, some altcoins have performaned marvelously against BTC since their inception, particularly on shorter timeframes.

But as the saying goes: the faster they rise, the faster they fall.

That’s because their low market caps on exchanges are both a weakess and a strength. In bull-markets, for example, a lower cap means a coin can be pumped much easier allowing it to outpace the gains of high cap cryptocurrencies like Bitcoin.

On longer timeframes, however, the story repeats over and over again as Bitcoin demonstrates who’s king.

#REKT? Not With Bitcoin! Yearly ROI On Largest Cryptocurrency Still Tops 150%

Think Your Favorite Altcoin Can Beat BTC? Good Luck.

Therefore, it is no surprise that Bitcoin, being a truly leaderless, decentralized and open-source cryptocurrency, has attracted the most network effect and hashing power to be the most secure blockchain today.

Subsequently, this give investor confidence more confidence in Bitcoin above all. It also means that it’s the de facto choice for trustlessly transferring value over any other cryptocurrency regardless of fees.

It’s also no coincidence that the SEC is considering approving a Bitcoin ETF only. It’s why Bitcoin trading instruments have been the first to hit traditional markets; and why investors are increasingly calling it ‘irresponsible’ not to have exposure to BTC in 2019.

In fact, data has shown that allocating only 1 percent of one’s portfolio to bitcoin historically outperforms the S&P 500, gold and US Treasury bonds.

But, more importantly, it also highlights the possibility of a Lindy effect, suggesting that the ‘internet of money’ could be a zero sum game. If so, then betting on ‘the next bitcoin’ looks more like gambling. Whereas bitcoin is increasingly becoming the safer play and one of the best investment opportunities in generations.

As InterchangeHQ cofounder, Dan Hedl says:

You think the altcoin you’re holding will beat Bitcoin’s return? Good luck.

Is investing in altcoins a good strategy compared to only bitcoin? Share your thoughts below!


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Dub 21

Bitcoin Price Volatility Soars 200% in April

Bitcoin price volatility has tripled over the past 30 days as BTC/USD has made an impressive push above the $5,000 mark. At the same time, overall volatility is actually in decline as Bitcoin adoption spreads. 


Bitcoin Price Volatility Triples in April

The volatility of bitcoin price has surged nearly 200 percent from a monthly low of 1.26 percent to 3.31 between April 1 and April 2, according to Bitvol.info. Currently, the volatility stands at 3.54 percent.

bitcoin price volatility

This occurred as BTC/USD skyrocketed by 22 percent in just the span of one hour propelling the cryptocurrency above $5,000 for the first time in 5 months.

Since the early April surge, the price has remained in a relatively tight range between $4,900 and $5400 amid bullish forecasts and other indicators possibly signaling a market bottom.

Bitcoin Volatility Decreasing With Time

The given volatility index gauges the price movement of BTC price over the past 30 days. Currently, the volatility stands at 3.54 percent, the highest in 3 months.

Overall, bitcoin price volatility has actually been declining over the years. In fact, 2018 was one of the least volatile periods in Bitcoin’s history despite an 80 percent drop in USD value.

Last year, the volatility index remained under 4 percent for most of the year. The only exceptions being the tail-end of the January 2018 crypto market price peak and the November-December period when BTC/USD saw a steep plunge below the $6,000 mark.

bitcoin price volatility

Data from the past 8 years shows a clear downtrend in overall spot price volatility. Despite the 80+ percent changes in bitcoin price in 2018, today’s fluctuations are nothing compared to Bitcoin’s early years when the price could easily move +/- 100 percent in a single day.

No One Wants a Stable Bitcoin

One of the most common criticisms of Bitcoin is that it is too volatile. Its wild fluctuations in price, the argument goes, means it cannot be money. Because its USD equivalent value transferred can diminish (or rise) in seconds.

This concern falls flat though because this problem is solved by BTC payment processors, stablecoins and other solutions.

At the same time, fluctuations in spot price shouldn’t be too surprising as bitcoin emission doesn’t follow typical supply and demand. This is why many traders and investors actually love the chaos of bitcoin price 00 volatility. When price moves, everyone pays attention.

It is these volatile days, in particular, that have given traders the biggest returns, compared to the rest of the year. This is the time of maximum opportunity and likely why having a low time preference and ‘hodling‘ — instead of trying to time the market — has proven to be a successful strategy for many Bitcoin investors.

Volatility Boosts Bitcoin Awareness

As Bitcoinist previous reported, overall interest in bitcoin also lags behind price moves. Google search trends over the past month reveal that the phrase “buy Bitcoin” spiked a day after the price surge caught everyone off guard.

As price moves (in either direction), people want to know why. What is Bitcoin? Should they buy now? Should they sell? Why is it rising so fast?

Moreover, virtually everything in the cryptocurrency space mirrors the bitcoin price chart. From website traffic to trading volume, to the number of headlines seen in the press.

Admittedly, the majority of the public is all about ‘when moon?’ and not ‘in it for the technology.’

Unsurprisingly, greed and fear drive the market. Luckily, humans have the ability to learn from experiences.

Educating yourself about what bitcoin is, why it was created, and historic market cycles could spare you the FOMO (fear of missing out) next time around. It could also help prepare for the next spout of bitcoin price volatility and avoid buying high and selling low.

In the meantime, all eyes will be glued to the price of bitcoin as traders wait to catch the next wave.

Is the return of Bitcoin volatility another bullish sign for BTC price? Share your thoughts below!


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Dub 20

Binance CFO Talks About His ‘Exciting’ Journey in Exclusive Interview

It was the last hour of the final day at Paris Blockchain Week Summit. The charismatic Binance CFO Wei Zhao had been speaking back to back. Yet, despite the time and the fact that he must have repeated himself over and over for two solid days, he seemed undeterred. Wearing jeans and a Binance hoodie, he bounded up to meet me, vigorously shaking my hand, clearly enjoying being the man of the moment.


If this were a celebrity party, Binance would be the VIP guest. Changpeng Zhao (CZ)’s creation seems unstoppable. Every project wants to be on Binance, from regular token listings to holding IEOs on the Binance LaunchPad. The Binance Chain has just launched, its native BNB token is climbing in price, and the company has the power to influence the entire community and delist tokens at will.

Binance Won’t Be Leaving Malta Any Time Soon

Minister for Digital Affairs Cedric O later said in a press conference that one of their goals was attracting Binance to France. Yet Zhao confessed to me that he had no idea the French had pushed forward new regulation until now.

With a rather high taxation rate for crypto companies at 30 percent, regulations around ICOs (that no one’s doing anymore) and a lot less flexibility than Malta, it looks unlikely that Binance will move to France anytime soon. Although I wasn’t privy to any backroom chats.

binance cfo wei zhao

My interview was with Wei Zhao, the man partially responsible for Binance’s epic growth. “I help companies to scale and to grow,” he tells me. Binance now has over 400 people in 30 countries. That’s “a decent sized organization.”

One thing that I have helped to launch is our fiat to crypto offering. In January, we launched our fiat to crypto, pound to BTC. We’re also doing Singapore. Last year, we launched in Uganda… My approach has been basically to build up our presence in the regulated world and build up more fiat.

Bridging the Traditional Financial World with Crypto

With a background of working in traditional finance, and grooming companies to go public, it’s unsurprising that another major focus of Zhao is institutional investors.

“I worked in Hong Kong, so I’ve been CFO for about four different companies, two of which went public. So, I am quite adept in dealing with bankers, and working with bankers, I am a banker myself. I helped to launch our OTC trading services, Binance off-exchange services. I help bring people from traditional bond traders and that type of trader to cryptocurrency.”

Indeed, the surge in Binance’s OTC trading drove the company’s near $80 million first-quarter profits.

What It’s Like Working at Binance

I ask why he made the leap from traditional finance to crypto. He says he would not have done it for any other company than Binance.

I think we are really different from other companies. Most are just exchanges, but we really fiercely want to make an impact in the world… The journey has been awesome so far and I’m in it for the long haul.

One of the best things about his job? Traveling to different places. “I flew around the world four or five times already,” he laughs.

It does speak to the borderless nature of cryptocurrencies. Yes, it’s a digital business but at the end of the day, it’s still a human business, it’s a very human business. The reason this industry is growing so much is that people in this industry travel so much. Like 10 times more than in any other industry.

There’s nothing like human interaction, face to face human talking about things, that’s how you can really impact change.

Does the Recent Leap in Bitcoin Mean the Bear Market Is Over?

It’s not a decisive “yes” when I ask if the bear market is over. Zhao pauses and leans back in his chair. There’s a short silence before he forms his answer, leading me to believe the opposite may be true. But with the most profitable exchange in crypto, bear market or no, nothing’s stopping Binance. He says:

I think there’s generally a lot more interest across the board despite adverse regulation and other adversities. You see general interest in bitcoin from traditional industries, and the rest of the world is showing interest in projects and I think all of it will contribute to the continued growth of the market. The fact that people are thinking “how is this going to impact my business?” Facebook JPMorgan… it lends credibility to the space.

I ask if companies like JPMorgan and Facebook lending “credibility” is rather ironic, considering how Bitcoin was born. He replies:

You need a push which is driven by guys like Facebook and JPMorgan, that gets people thinking about how that’s going to impact institutions and the market. It lends credibility, mindshare, and shows that our actions are getting noticed, that’s what it takes.

What It’s Like Working with CZ

So, what’s it like working with one of crypto’s biggest personalities? “Awesome, it really is awesome!” he enthuses, “he’s extremely transparent, diligent and extremely honest, he’s also extremely intelligent, and very patient.”

changpeng zhao cz binance

I ask if he was in complete agreement about the recent delisting of Bitcoin SV, to which he nods his head. Presumably, he’s been fielding questions on the subject all day long and his answer is extremely diplomatic.

“We have a very rigorous delisting process, and we also have a regular quarterly review. This quarter a lot of the comments we’ve written out our rationality… I don’t have any other comments on that.”

Finally then, who does Zhao believe that Satoshi Nakamoto is? Clearly, not Craig Wright.

“I think its a community,” he replies. “It’s like ‘I am Bitcoin’, you know that movie? ‘I am bah, blah blah’? It’s like that with Bitcoin. It’s a community. And we’re surviving… I believe that every day that you survive extends your survival… There is a reason why he or she wants to remain anonymous, because it’s not important, it’s a community.”

What do you think of Zhao’s comments? Let us know your thoughts below!


Images via Shutterstock

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