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  NYU Offers First Crypto Major in US, Sees Exponential Increase in Interest
Posted by: admin - 09-20-2018, 07:43 PM - Forum: News From Cryptocurrency Market - No Replies

New York University, a prestigious college found in 1831, has started to offer the first crypto major course in the US.
Adjunct professor Andrew Hinkes told CBS New York in an interview that the institution is helping students understand both the legal and the business implications of crypto and blockchain technology.
Hinkes said:

Quote:“We hope to establish a groundwork so that the students can understand what’s really happening under the hood, so that they can understand both the legal and the business implications, and prepare them to go out and tackle this new market.”
Crypto Boom at Universities
Throughout 2018, the demand for crypto-related courses at colleges has increased significantly, ever since prestigious institutions like Stanford and MIT started offering programs covering cryptocurrencies and blockchain technology.
As Mustafa Khan, a student at NYU who enrolled in the crypto major, it has become important for millennials to understand and study an emerging asset class that is rapidly integrating into the global finance sector.
“In the environment we live in today, it’s become especially relevant to get a hold of how new technologies work and how they interact with the legal system,” Khan said.
David Yermack, finance department chair at NYU, stated that students who previously graduated at the college have come back to take crypto courses to obtain a better understanding of the rapidly growing market and the industry surrounding blockchain technology.
“There’s a few people who graduated some years ago but have come back to sit in on this just because of the novelty and the edginess of the topic,” Yermack added.
Similar Movement in Institutional Market
[Image: bitcoin-education-student-school.jpg]
Influenced by the initial entrance of Goldman Sachs into the cryptocurrency sector through Bitcoin futures clearance, an increasing number of major banks have started to develop crypto custodian solutions to serve institutional investors.
Banks are required to adjust to the demands of its clients and consumers and as such, depending on the trend of the market and the needs of investors, banks tend to add more lucrative services onto their existing range of products to ensure that it can facilitate the interest towards new asset classes and markets from investors.
According to Coinbase vice president Adam White, the education industry has seen a similar trend, as students began to ask universities to offer education on a new industry that is seeing similar levels of interest and developer activity as the Internet in its early days
“This is a grassroots movement. These are students saying, ‘hey, university, I want to take a class on this.’ I think they see the development, the birth of a new industry. In many ways, we look at things like Bitcoin and Ethereum and blockchain as the internet 3.0,” White said.
The integration of crypto and blockchain technology into New York Unviersity’s major courses is expected to lead to other prestigious and well recognized institutions in the US offering similar programs.

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  Current Legal System Can’t Recognize Bitcoin, India’s Central Bank Tells Supreme Cour
Posted by: admin - 09-15-2018, 06:02 AM - Forum: News From Cryptocurrency Market - No Replies

The Reserve Bank on India (RBI) on Wednesday filed an affidavit in the Supreme Court to clarify its stand on cryptocurrencies like Bitcoin.
The central bank reserved its views on the legality of cryptocurrencies in India, telling the apex court that the constitution has not defined any legal system for virtual currencies. Citing the provisions of The Coinage Act and The RBI Act, the affidavit explained that the existing legal frameworks neither recognize Bitcoin as currency nor money. Hence, they are not a valid payment system.
The Supreme Court of India is currently hearing a case between the RBI and Bitcoin exchanges. The court’s busy schedule has pushed the hearing date twice already; the next hearing is now scheduled for September 17, 2018.
FEMA, PSSA Roadblocks to Recognition
RBI has been facing a backlash from the Indian crypto-community ever since it ordered banks to discontinue their services with cryptocurrency exchanges. An RTI response after the blanket ban further revealed that the Indian apex bank didn’t research Bitcoin enough before dismissing it.
However, RBI said they could not be the one to term Bitcoin as legal or illegal. They are bound by statutory provisions –  the acts mentioned in the Constitution of India – that makes them take the necessary measures against the booming virtual currency industry.
“RBI cannot unilaterally decide for the Government, on the legality of Bitcoins,” the central bank said.
The RBI affidavit mentioned The Foreign Exchange Management Act (FEMA) which allows them the authority to name instruments as valid currency. But the act itself is only valid for instruments with similar characteristics that of cheques, money orders, postal orders, etc.
“Thus, legally it may not be possible to notify Bitcoins as currency for FEMA…Since Bitcoins and other VCs are not in the physical form and neither expressed or drawn in Indian rupees, the definition of ‘Indian currency’ cannot be made applicable to Bitcoins,” the affidavit read.
RBI also noted that Bitcoin could not fall under the category of foreign money, as well, since they are not issued by any sovereign state. Also, the absence of any legal definition of virtual currencies puts it away from the purview of The Payment and Settlement System Act (PSSA).
What’s Next?
RBI in its one of its previous statements has supported cryptocurrency regulations in India. But there will be a need for a  concrete definition to begin the regulatory process. Currently, Bitcoin is undefinable due to its multifaceted characteristics. It can be used as money, a commodity and even stock. Some unconfirmed reports have hinted that Indian regulators would term Bitcoin as an asset of the commodity class.
Depending on the definition, the weight of making a regulatory framework will fall either upon the RBI, or the Securities & Exchange Board of India (SEBI). The latter has already organized cryptocurrency study tours to the Switzerland, the UK and Japan for its officials, hinting the security regulator might take on the burden of creating a new Bitcoin law.

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  LA Dodgers Baseball Team to Pioneer the ‘First Crypto Giveaway in Sports’
Posted by: admin - 09-11-2018, 02:13 PM - Forum: News From Cryptocurrency Market - No Replies

Nearly six decades after player specific ceramic figurines were introduced, the Dodgers will play a lead role in what is hyped as “the first Crypto giveaway in sports”. The digitized bobblehead giveaway will take place during the September 21st LA Dodgers vs San Diego Padres game.
The first 40,000 fans in attendance will have an opportunity to download a digital bobblehead of one of 3 players, pitchers Clayton Kershaw and Kenley Janson and third baseman Justin Turner.
Each of the participating fans will receive a card with an individual code and a set of instructions directing them to a webpage where a randomly selected digital bobblehead token is unlocked and added to the participant's Ether wallet. The number of related tokens for each player is approximately the same.
Lon Rosen, Dodgers Executive Vice President and Chief Marketing Officer said:

Quote:We’re excited for our first-ever Crypto giveaway, and to explore an entirely new marketplace with our fanbase,
Lon Rosen
He further added that:
Quote:We hope this piques the interest of Dodger fans, and will help launch a new age of collectables and promotions.
The giveaway by LA Dodgers is not the first crypto event in Baseball, in July, Bitcoinist reported on plans by the MLB and blockchain gaming company Lucid Sight develop MLB Crypto Baseball to sell digital baseball collectables. Though the actual game was launched on August 31, MLB Crypto Baseball initially started selling digital collectables in mid-August, with the first player batches fetching $20 a piece while some really popular players like Mookie Betts and Justin Turner were fetching up $25,000 apiece.
The purpose of the project is giving fans a platform that facilitates the buying and selling of virtual avatars and memorable moments in baseball's recent history. There are also incentives like potential rewards for participants who assemble a full team roster.

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  EU Lawmakers Weigh 'Standard' for ICOs Under Crowdfunding Rules
Posted by: admin - 09-06-2018, 05:05 AM - Forum: News From Cryptocurrency Market - No Replies

Members of the European Parliament held a meeting on Tuesday to discuss a proposal that, if approved, would create new regulations on initial coin offerings (ICOs) held within the economic bloc.
The All-Party Innovation Group within the EU Parliament met to examine the potential benefits and issues with rules for ICOs that would form part of a wider crowdfunding framework.
As CoinDesk previously reported, the proposal was written by Ashley Fox, a Member of the European Parliament (MEP). Fox called for an 8 million euro cap on token sale proceeds as well as know-your-customer/anti-money laundering requirements.
Perhaps more significantly, if the regulations are adopted by the European Parliament, it could create a standard for token sales, allowing projects to raise funds and conduct business in any of the 28 member-nations.
"Be assured, that as legislators we're trying to make ICOs more possible and more successful, that certainly is our objective," Fox remarked.
France Digitale managing director Nicolas Brien said during the meeting that "there is an emergency to act" to create such a standard, explaining that "the market wants legitimization … from every jurisdiction. In the UK it's particularly bad, none of the banks will bank you if you have crypto."
Brien went on to explain:

Quote:"Having the certainty, but also having that legitimization, I actually welcome having a European-wide proposal because it gives people the certainty to know. I think we need to be clear whether this is a utility token or a transferable security, or how the regulator regime looks at that, but I think this can be done because an ICO is another form of crowdfunding. It's different, but it is a form of crowdfunding."
That said, the meeting also saw many of the representatives and regulators highlight the need for stricter scrutiny of ICOs, given the prevalence of scams that employ the blockchain funding model.
Laura Royle of the Financial Conduct Authority (FCA) said that "we certainly do see a huge potential benefit in this space for firms to raise capital from a broad array of investors and without the cost of an intermediary, but there are risks associated [such as] the potential for fraud, with a lack of transparency and the volatility."
The FCA, in particular, has seen a "high proportion" of fraud, she continued, though exact figures are difficult to establish. The regulator estimates that anywhere from 25 to 81 percent of ICOs may result in fraud.
While no clear consensus on a path forward was reached during the meeting, European Parliament members can submit amendments to the proposal by September 11 – thus setting the stage for further debate.

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  CBOE Close to Launching Ethereum Futures: Report
Posted by: admin - 09-03-2018, 09:38 PM - Forum: News From Cryptocurrency Market - No Replies

CBOE, the Chicago exchange that pioneered the listing of bitcoin futures in the U.S., has quietly begun telling market makers that it is close to launching a new cryptocurrency product: ethereum futures.
Citing an unnamed source with knowledge of the situation, Business Insider reports that CBOE wants to become the first U.S. exchange to list an ethereum futures product, which would transform ether into more of a two-sided market by allowing professional traders to go both long and short on the second-largest cryptocurrency.
Those futures, the person said, could launch before the end of the year and would source their pricing data from Gemini, the New York-based cryptocurrency exchange founded by Cameron and Tyler Winklevoss. Gemini currently supplies pricing data for CBOE’s bitcoin futures, which first launched last December.
The report further states that CBOE wants to receive further regulatory clarity from the Commodity Futures Trading Commission (CFTC), which oversees the trading of futures and other derivatives products. The agency, run by J. Christopher “Cryptodad” Giancarlo, has garnered a reputation for being quite accommodating to the burgeoning cryptocurrency asset class, though it also vowed to ramp up its scrutiny of cryptocurrency derivatives products in response to criticism for its handling of bitcoin futures.
CBOE’s case will likely be bolstered by the announcement earlier this year that the Securities and Exchange Commission (SEC) does not believe ether is a security, despite the fact that the project was initially funded through an initial coin offering-style token sale. Bitcoin is the only other cryptocurrency that the SEC has explicitly said is not a security.
CBOE’s rush to list the first ethereum futures is not surprising. Executives including CBOE President Chris Concannon had, even in the days after listing bitcoin futures, expressed their desire to launch an entire suite of cryptocurrency products, and listing ethereum futures is the natural next step in accomplishing this goal.
The creation of ethereum futures will doubtless help legitimize ether as a financial instrument. However, particularly in the short-term, they could also be a double-edged sword since they will make it much easier to short the ethereum price. As CCN reported, many analysts including researchers at the U.S. Federal Reserve attributed the start of the cryptocurrency market decline to heavy shorting in bitcoin futures markets.

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  LUXEARN PROPRIETARY LTD - cryptocurrency trading and mining
Posted by: admin - 08-29-2018, 09:17 PM - Forum: Reviews - No Replies

Quote: David News Review

"" As I wrote earlier, most of the plans are not for the majority. The minimum investments are high and with long investment terms. Therefore, I will pay attention to the plan with a lower interest rate which usually has a larger potential. An investment calculator is available on the website if you want to make your own calculations. However, just to make it easier to understand what’s what here a quick calculation. An investment of $200 in Luxearn Proprietary LTD (investment plan ordinary 0.5% for 356 days) would generate a daily return of $1. With a 0.5% interest rate, it takes 200 business days (280 days with weekends) to reach the break-even point and 365 business days (511 days with weekends) to reach the end of it when $200 investment would have made a net profit of $356. When making a deposit pay attention to Gain profit section. As it is compounding, you have to choose to gain profit 0 to be able to withdrawal earnings every day!

Today we are looking at another cryptocurrency inspired HYIP. The admins claim that it has been for 1054 days in total.  But does it even matter? The program itself looks fine now. Especially for those who prefer long-term investments. I mean, it’s much easier to pay 0,5% daily to investors. However, there are also plans with much higher rates and shorter investment terms. Indeed, 0.5% is the realistic rate, but even break-even point takes almost a year for a plan with 0.5%. Today it looks fine but again it’s impossible to predict the potential lifetime of this program. Therefore, if you ever decide to make any investments, don’t invest more than you can afford to lose! ""

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  Moscow's Government to Use Ethereum to Promote Transparency In Commerce
Posted by: admin - 08-29-2018, 02:17 PM - Forum: News From Cryptocurrency Market - No Replies

Moscow's government is planning to use ethereum as part of a system for allotting trading spots during weekend farmers markets.
The system will record applications submitted by farmers, who compete for a limited number of commercial plots. Some 15,000 trading spots are up for grabs, with the market season stretching between April 20 and November 25 and farmers coming in from Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.
As might be expected, there's a push to get a spot, with some 20,000 applicants submitting their bids each year. The idea is to use ethereum as a way to create an immutable record of applications, with updates made for those who are either approved or denied access, according to Andrey Borodyonkov, who serves as the blockchain product manager for Moscow City Hall.
"Blockchain is an additional guarantee that the incoming applications remain immutable as well as makes the audit of the application history possible," he explained to CoinDesk.
Moscow's government detailed in a statement:

Quote:"The entire dataset is publicly viewable, transparent and available for download. In that case, submission time can be confirmed, while the application cannot be deleted or altered by someone once it is submitted."
Part of the problem is that many of the farmers are unhappy with the current system for reviewing applications.
Andrey Belozerov, the strategy and innovations advisor to Moscow City Hall's CIO, expressed hope that the new system will help alleviate some of the concerns by making that information more publicly accessible.
"We believe that farmers should have a transparent system to see why their application is declined or approved," he said in the press release. "Blockchain is to make sure that the process is fully transparent and no one can alter an application. We hope that blockchain will provide full transparency for everyone."
The Moscow City Hall started hiring developers capable of working with blockchain back in 2016, Andrei Borodyonkov told CoinDesk, and in 2018 that staff officially formed a new division named "Product Blockchain."

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  North Korea to Hold International Blockchain Conference in October, Report Claims
Posted by: admin - 08-28-2018, 10:44 AM - Forum: News From Cryptocurrency Market - No Replies

A recently published report suggests North Korea is set to hold a blockchain-related conference in the beginning of October, in a move that experts believe is being made to “show off” technological capabilities.
According to the Stratis Times, citing a report from US-based media outlet Radio Free Asia, the hermit country is set to invite experts in blockchain technology and cryptocurrencies from all over the world to attend the event, which will reportedly last two days and begin on October 1.
The conference’s attendees, per the report, will meet North Korean business officials on October 3. Notably, this would require changes in international policies as Kim Jong-un’s regime has an underdeveloped tourism industry, as visiting the country is somewhat restricted.
Countries like the US have banned their citizens from visiting the country over security issues and international sanctions that’ve recently hit the recluse nation. According to security experts the news outlet cited, the conference is being organized to “show off its capabilities regarding such technologies.”
North Korea, as CryptoGlobe covered, is often seen as a bad actor in the cryptocurrency space, as some analysts believe Kim Jong-un employs hackers to steal bitcoin from other nations to fund the regime.
Earlier this year South Korea accused the country of stealing over $530 million from its cryptocurrency exchanges in a series of attacks. At the time, North Korea was blamed for hacking the popular Bithumb exchange, a little-known local exchange called Coinus, and more.
Kim Byung-kee, a South Korean parliament member, noted the regime’s hackers were hitting South Korea cryptocurrency exchanges with phishing campaigns to gain access. He said:

Quote:North Korea sent emails that could hack into cryptocurrency exchanges and their customers’ private information and stole (cryptocurrency) worth billions of won.
In March, former NSA officer Priscilla Moriuchi claimed North Korean hackers could’ve netted the regime over $200 million worth of cryptocurrency last year, in an effort to dilute the impact of international sanctions imposed on the country over its nuclear and missiles program.
Per Moriuchi, the hackers could have been able to steal an estimated 11,000 BTC at press time worth about $74.2 million, through a “cyber army.”

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  Bank of Thailand (BoT) Is Developing Its Own Cryptocurrency To "Enhance Operational E
Posted by: admin - 08-25-2018, 11:03 AM - Forum: News From Cryptocurrency Market - No Replies

Thailand’s central financial institution, the Bank of Thailand (BoT), had announced in June that it was exploring a “new way of conducting interbank settlement” by issuing its own cryptocurrency. The BoT appears to have followed up on this plan as its now reportedly working on creating a Central Bank Digital Currency (CBDC).
According to an August 21st press release, the BoT will partner with R3, a New York-based blockchain startup, and 8 other local banks to “collaboratively design and develop a proof-of-concept prototype” for its CBDC.
R3’s open-source distributed ledger (DLT) platform will be used to implement the CBDC prototype and the new payment system will aim to facilitate “wholesale funds transfer.”
Improving Future Financial Infrastructure
Thailand’s digital currency initiative is called Project Inthanon and its “outcome and insights...will contribute to the design of [the nation’s] future financial infrastructure”, the press release stated.
Notably, the Inthanon project will be similar to other state-backed digital currency projects currently being developed by the Hong Kong Monetary Authority, the Monetary Authority of Singapore, and the Central Bank of Canada.
The press release also noted that the BoT is working on a DLT-based proof-of-concept for securities trading that does not require issuing or exchanging physical certificates. These types of transactions will reportedly be conducted through the sale of “scripless government savings bonds.”
Moreover, phase 1 of the Inthanon project will involve developing and testing a CBDC prototype for “domestic wholesale funds transfer.” During this initial phase, the project’s participants will also be working on improving “key payment functionalities such as [the] liquidity saving mechanism and risk management.”
Faster Cross-Border, Third-Party Funds Transfer
Phase 1 of Thailand’s CBDC project is scheduled to be completed by Q1 2019 and its “findings and outcomes” will be used further enhance the capability of the digital currency prototype to allow for more efficient cross-border payments and third-party funds transfer.
The 8 other banks working with BoT and R3 on Thailand’s digital currency project include the Hongkong and Shanghai Banking Corporation, Siam Commercial Bank, Standard Chartered Bank (Thai), Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, Kasikornbank, and the Thanachart Bank.
Legalizing Cryptocurrencies
Looking at these developments suggests that Thailand’s government believes digital currencies have to the potential to “enhance the operational efficiencies” of its traditional financial system. As CryptoGlobe reported on August 5th, Thailand’s banks were given permission to launch subsidiaries in order to offer brokerage services to crypto-related firms and also invest in blockchain startups.
Earlier in June, Thailand’s Securities and Exchange Commission (SEC) legalized the buying and selling of seven cryptocurrencies using the Thai baht. These cryptos include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Stellar (XLM), and Ripple (XRP).

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  Buying Players With Bitcoin? Seven English Premier League Clubs Trial Cryptocurrency
Posted by: admin - 08-22-2018, 11:23 PM - Forum: News From Cryptocurrency Market - No Replies

Buying football players with bitcoin could soon be on the horizon as seven English Premier League clubs began participating in cryptocurrency trials on Monday.
Facilitated by eToro, the popular online trading platform, the trial involves the creation of digital wallets for English Premier League clubs Tottenham Hotspur, Leicester City, Southampton, Cardiff City, Brighton, Newcastle United and Crystal Palace. - with the goal of replacing the pound sterling as the currency for player transfers in the Premier League.
As part of a sponsorship deal, the clubs were paid by eToro to incentivize their participation in the trials.
In an interview with the Daily Telegraph, Iqbal Gandham, managing director of eToro UK, revealed that the payment was made in bitcoin and not pounds:

Quote:We've done a sponsorship deal, but rather than pay them in traditional pound notes we've paid them in bitcoin.
He added that the clubs were free to do whatever they wished with the bitcoins.
Etoro also believe the adoption of Bitcoin by sports clubs would help fight ticket scalping and the sale of fake merchandise.
Comments from representatives of Tottenham Hotspur and Brighton indicate that the clubs were happy with the partnership. Paul Barber, the CEO of Brighton FC, said that the trial was a good opportunity for his club to understand the “true potential offered by the blockchain.” Similarly, Fran Jones, Tottenham Hotspur’s head of partnerships, mentioned that his club was keen on being involved with technological innovations.
This is not the first time Premier League clubs have partnered with cryptocurrency businesses.
Arsenal F.C. for example, became official partners of Cashbet, a U.S cryptocurrency business, in January 2018 - in one of several partnerships between crypto businesses and sports organizations.
A frequent refrain of industry experts, these developments add credibility to the claim that cryptocurrency technology is here to stay and will continue to penetrate different fields of endeavor.

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