Crypto News: INDIA FUD, Litepay, Acorn- Crowdfunding, Money Laundering, China Crypto Ads ban, Ethos, Wabi, Litecoin
First off, I'm sorry for my leave of absence,. I was busy selling my belongings that i don't really use to buy BTC at 8000USD price range . I also had to convince many of my friends as to how good of the price range this is to get into cryptocurrency, so I was out a lot. This will not happen again and the daily updates will be coming :))
@altcoinbuzz daily update(4/2/18) covered by Shailen - This is an article version of the video made with the links to all the information mentioned in the video + I do add a few points which i feel could help out(IMO- In my opinion)
BTC Price :
https://www.tradingview.com/chart/BTCUSD/BLwISPQA-BTC-USD/
Currently doing a double bottom for a break to the upside , with BTC futures trading at 8500 its currently undervalued at 7828 so its a good buy at this range. ( based on my TA not financial advice)
1)Interview With India's Three Largest Exchanges: Cryptocurrency Ban Rumors are FUD:
In an exclusive interview, executives at Coinsecure, Unocoin and Zebpay, the most widely utilized cryptocurrency trading platforms in the country with millions of users, unanimously stated that the document released by the Ministry of Finance was misinterpreted. The India Ministry of Finance reaffirmed that it intends to ban the usage of cryptocurrencies in financial crimes and illicit activities, but not ban cryptocurrencies in general. It is important to acknowledge that the use of cash or any currency in financial crimes is banned.
IMO : There seems to be a magical regulatory body (not SEBI ) trying to set regulations from the past year and still haven't implimented anything. I think some sort of regulation is needed as all the crypto exchanges here are manipulating markets; with the current drop in prices of BTC , On the ZEBPAY platform the prices are still trading at 9500USD with hardly any liquidity and extremely high fees. Limit orders are being manipulated so as to not achieve the price, overall there is a lot of shady stuff going on, hopefully this gets rectified soon.
2)HUGE Litecoin announcement – ‘gamechanger’ LitePay to launch in days:
LitePay takes Litecoin out of the cyber realm and places it squarely in real life by allowing businesses to accept payment in Litecoin from anywhere on earth.
Transactions will be super-fast and allow UK-based customers to pay for products and services in dollars with no transaction charges.
A Litecoin wallet will also be available for all major mobile and desktop browsers and instant withdrawals from VISA compatible ATMs and spend with any VISA merchant will be possible.
IMO : Litecoin @ 100USD was a steal, I hope you guys loaded up :))
3)Goodbye Kickstarter? The Blockchain-based Project Aims to Challenge the Crowdfunding Sector:
A new Ethereum Blockchain based platform called Acorn seeks to create an open, global community and marketplace for crowdfunding- opening it up to new participants such as those living in developing countries.
By incorporating P2P smart contract based governance, Acorn plans to supersede the current roster of crowdfunding platforms, and offer a service which will overcome geographic, political and economic borders. It also intends to mitigate any issues that may otherwise arise from cross-national jurisdiction and litigation.
According to the project’s team, use of the decentralized Blockchain for transaction verification/storage and a proprietary token currency (Acorn, ‘OAK’) means that “Acorn can bypass local taxation that would otherwise apply.”
“By funding through an ICO, and utilizing the Ethereum Blockchain, the Acorn Collective will eradicate the traditional three to five percent transaction fees and five percent platforms fees normally associated with other crowdfunding platforms, such as Kickstarter and Indiegogo,” the Acorn white paper states.
IMO: They say they want to bypass jurisdiction and local taxation , although this is a brilliant Idea in theory with govt will not allow such a thing or do anything in their power to penalize them. I hope they can overcome this issue as it seems to be the only major obstacle .
4)Cryptocurrency Is Harder to Launder Than Fiat Currency:
Cryptocurrency is not the money launderer’s paradise it’s portrayed to be. Last week it was the turn of British Prime Minister Theresa May to break her silence on cryptocurrencies, predictably venturing that closer scrutiny was required “precisely because of the way they are used, particularly by criminals”. When Donald Trump’s Treasury Secretary gave his first comments on bitcoin back in November, it was to echo similar sentiments, saying:
The first issue is to make sure people can’t use bitcoin for illicit activities. So we want to make sure that you don’t have the dark web funded in bitcoins and that’s something that is a concern of ours today. So, if you’re a bitcoin dealer in the United States, you have the same know-your-customer requirements and BSA requirements.
Source : https://news.bitcoin.com/cryptocurrency-harder-launder-fiat-currency/
IMO : If you read the full article, many of the exchanges that accept NEM's have been notified and are refusing these specific coins. Contrary to popular belief, Crypto's ARE traceable (except maybe monero) and can be found. Laundering FIAT cash is done by the Bank of America and Chase daily. Primarily unnoticed.
5)Super Bowl fan uses Bitcoin to snap up tickets for $19,000 in first for NFL showpiece event:
A New England Patriots fan is believed to have made Super Bowl history after snapping up a pair of tickets for Sunday's NFL showdown using Bitcoin.
The buyer, who wishes to remain anonymous, contacted a secondary ticket vendor on Thursday after being unable to use the cryptocurrency with official ticket outlets.
TickPick decided to take up the offer and locked in the sale when the price of the volatile currency was worth $9,360, taking the cost to almost $19,000 (£13,400).
While that might seem steep, the seats were located on the first row on the 50-yard line. TickPick was recently selling row 2 seats for $15,255 each.
IMO : Either this guy got into BTC when the price was at 100 bucks or he's just a die-hart fan and dosent mind the loss.
6)Cryptocurrency ads disappear from Chinese social media:
The South Morning China Post is reporting that searches for crypto subjects on Weibo, a social media site akin to Twitter, and Baidu, China’s largest search engine, do not return any results. When contacted, Weibo told SMCP that they no longer allow cryptocurrency ads at all. Baidu did not respond to inquiries, but the message is coming through loud and clear.
Source : http://bitcoinist.com/cryptocurrency-ads-disappear-chinese-social-media/
TWITTER UPDATES:
Ethos : New team members:
Wabi : Scam Awareness:
Litecoin: Scam Awareness:
Thankyou
Finally I would like to thank Matt of Altcoinbuzz for the continued support, I cannot begin to express how grateful I am to you
Please Like, Comment (your critical feedback would be much appreciated) and resteem
Cheers :)
Coins mentioned in post:
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