Abra To Build On LTC - JoyStream Uses BCH - Coinbase Gets UK Licence - First REAL BTC Futures Coming
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1:07 Story - Some Good News For LiteCoin
https://www.abra.com/blog/decentralized-investment-platform/
Abra started out life as an international remittance app and has now expanded well beyond that.
Here’s a quote from their official release:
“Today, Abra announced a new version of our smartphone app and exchange service, which enables investing in 20 cryptocurrencies and 50 fiat currencies as well as the real-time exchange across all 70 currencies. This is the first time a platform is offering 20 cryptocurrencies plus 50 fiat currencies in a single wallet with real-time exchange across all 70 and no third party custodian.”
One of the most popular questions I get asked is, which wallet can I use that supports all my cryptocurrencies?
The answer to that is often none of them, which is why people have a big incentive to keep all their money on an exchange, because that effectively acts like one big, multi currency wallet.
Anyway the good news for LiteCoin is that it has been chosen as the primary asset class for this new investing platform.
Basically Abra are going to create digital representations of fiat currencies like USD, EUR, JPY, KRW etc. and base it all on multi-sig LiteCoin transactions.
This ultimately means a new wave of demand for LiteCoin which should result in upward price pressure, all things being equal.
For as one reddit user put it
“LiteCoin is no longer on exchanges, the exchanges are now on LiteCoin.”
If you take a look at https://btc.com/ for example, you’ll see the demand for Bitcoin transactions is the lowest I’ve seen it in a while with….
3:14 Story - A New Way To Earn Bitcoin Cash
https://medium.com/@JoyStream/joystream-is-going-live-on-bitcoin-cash-c005551ba0df
JoyStream is something I haven’t talked about in about a year.
Their idea is to take file sharing via bitTorrent and incentivise more people to host the files and speed up the whole network.
I think it is a genius idea but the last time I tried the software was like a year ago and it was very early.
Today’s announcement is that they have a new version to try that makes use of Bitcoin Cash. They give their reasons for this in their announcement post.
So if you have an internet connection with some idle bandwidth, why not host some torrent files and get paid for hosting them.
4:42 Story - Big News For Bits, Great News For Crypto
https://blog.coinbase.com/major-strides-in-europe-coinbase-is-the-first-crypto-exchange-to-obtain-a-uk-bank-account-144f0e8ed7ce
Coinbase has been granted an e-money licence by the Financial Conduct Authority in the UK.
And if that wasn’t enough they have also established a UK bank account meaning they can make use of the UK’s instant bank transfer technology called Faster Payments.
THAT means I can now transfer fiat currency to Coinbase instantly for free, rather than using a debit card to do an instant buy and incurring the 3% fee!
So buying crypto from Coinbase just got 3% cheaper for me. How does it get any better than that!
One thing Coinbase has to do in the UK is keep client funds separate to their operational funds.
This is so that in the event Coinbase became insolvent, they can’t pay their bills or debts with clients money.
Then if Coinbase were to fail, there’s still all the client money set aside to be safely returned.
I hate to say it but this is the benefit of regulation. It’s the kind of rule that prevent the kind of customer losses we saw at MtGox.
And if that wasn’t enough, from this UK base, Coinbase can extend its services to 23 countries within the EU.
That means when the next crypto boom happens, the bridge from the fiat currency world to the crypto world is now much wider.
That means another piece is in place for the next boom to eclipse the previous one by a large margin.
7:41 Story - Another big news story for Bitcoin and the UK
https://coinjournal.net/coinfloor-to-launch-physically-settled-bitcoin-futures/
UK Bitcoin exchange Coinfloor has announced CoinfloorEX, a physically settled Bitcoin futures exchange.
This is the kind of news we had hoped when the CBOE and the CME futures launched but they ended up being purely paper instruments settled in cash and never touching the real Bitcoin.
[red] One big application for the physically settled Bitcoin futures is for miners to create more predictability in their cash-flow, meaning they want to secure a definite price for the Bitcoin they mine in the future.
That way if the Bitcoin price drops in the meantime, the futures contract protects them against this.
https://www.coinfloorex.com/
This is due to launch next month in April and you can find out more at the official CoinFloorEx website.
9:12 Story - Market Roundup
https://coinmarketcap.com/
https://onchainfx.com/
https://www.coinigy.com/?r=16171fe8
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Happen to may times.
Continued development of BTC futures will help the full ecosystem as risk management strategies could be executed effectively and additional products can be built. ETFs essentially need futures to stabilize prices when investors move in/out of the fund. Internal factors continue to move forward which should create good momentum for progress for adoption.
Very helpful video <3
Subscribed sir🙂
Abra might become the first bitcoin wallet to get a mainstream userbase owing to its unique design as it manages to avoid various regulatory issues of transferring money cross-borders by being a simple and straightforward technology to use. Why should we go to the banks, fill a number of forms, provide ID proof and a ton of other details to send money to a relative overseas? An app like this needs to go mainstream to solve various challenges in crypto adoption rate and mainstream use🙂