How Will Traders and Investors Fare Going Forward as a Cryptocurrency Civil War Gets Underway

Source : How Will Traders and Investors Fare Going Forward as a Cryptocurrency Civil War Gets Underway Cryptocurrency is fundamentally a form of digital money designed to be secure, counterfeit-free, trackable, quasi-anonymous, and supported by the dynamics of supply and demand without the influence of any centralized authority. Cryptocurrency essentially seeks to take economic power from governments and the traditional financial institutions to create a global economic landscape that levels the playing […] The post How Will Traders and Investors Fare Going Forward as a Cryptocurrency Civil War Gets Underway appeared first on The Bitcoin News – Leading Bitcoin and Crypto News since 2012.

How Will Traders and Investors Fare Going Forward as a Cryptocurrency Civil War Gets Underway

Source : How Will Traders and Investors Fare Going Forward as a Cryptocurrency Civil War Gets Underway Cryptocurrency is fundamentally a form of digital money designed to be secure, counterfeit-free, trackable, quasi-anonymous, and supported by the dynamics of supply and demand without the influence of any centralized authority. Cryptocurrency essentially seeks to take economic power from governments and the traditional financial institutions to create a global economic landscape that levels the playing field for all actors. One of the major expressions of Bitcoin; it has displayed undeniable resilience as money despite the neverending stream of attacks, regulatory hurdles, and outright insults from the traditional financial institutions. In 2009, bitcoin was practically negligible – it cost about 10,000 bitcoin to buy $20 worth of pizza. Now, bitcoin’s market value has outperformed all known fiat currencies; you’ll need more than $7,000 to buy one bitcoin. A Civil War Rocks the Cryptocurrency Market The cryptocurrency market is currently at war as dissensions in the Bitcoin community threaten the ability of digital currencies to present a united front to displace fiat currencies. In August, a fork in the Bitcoin ecosystem birthed a different version of the cryptocurrency; Bitcoin Cash (BCH). Bitcoin is the core but evolved cryptocurrency while Bitcoin Cash is the alternate version that seeks to preserve the “original” idea of Satoshi’s Bitcoin. The August fork did not cause much disruption in the Bitcoin ecosystem other than the fact that people who owned Bitcoin had to navigate a maze of managing core Bitcoin and Bitcoin Cash. Quite a number of cryptocurrencies have also recorded forks in the past, Ethereum and Ethereum Classic are examples that readily come to mind. Another type of Bitcoin hard fork, SegWit2X was planned for mid-November; the hard fork was supposed to increase the block size for Bitcoin and solve some the scaling problems, among other things. Interestingly, the supporters of the new hard fork decided to suspend the move because “unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time.” The suspension of the hard fork, in turn, caused some investors to become more optimistic about the prospects of the cryptocurrency. The increase in bitcoin demand, in turn, pushed the price of bitcoin to an all-time high of $7,888. Mati Greenspan, Senior Analyst at eToro, noted “when BitGo first announced that they were calling off the 2x hard fork the initial reaction in Bitcoin was a sugar rush that propelled the price to new all-time highs. What ensued was a vicious thumb war between the ‘big blockers’ and the ‘purists.’ Those advocating a bigger block size decided quickly that Bitcoin Cash was their best bet and started to move funds out of Bitcoin Core, which was then showing elevated prices.” “The war lasted for about three days with the old bitcoin eventually regaining composure. However, the more interesting thing to watch now are the bystanders. The other established cryptocurrencies like Dash, Litecoin, and Ethereum have all gained significant ground over the …

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German Financial Authority Warns on ICOs…Again; Nothing Changed

Source : German Financial Authority Warns on ICOs…Again; Nothing Changed The German government has issued the same exact warning against ICOs, worded exactly the same, two times in one week. The post German Financial Authority Warns on ICOs…Again; Nothing Changed appeared first on The Bitcoin News – Leading Bitcoin and Crypto News since 2012.

PR: Game Machine – First Blockchain Ecosystem Connecting Game Industry and Cryptocurrency

Source : PR: Game Machine – First Blockchain Ecosystem Connecting Game Industry and Cryptocurrency This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Game Machine is a global open ecosystem for game-industry, based on blockchain. Game Machine unites all the participants of the market: gamers, game developers, advertisers for industry development and upgrades the game products quality. Since September, 2017 Game Machine has been creating a loyal gaming audience which generates cryptocurrency by means of the principle of Proof-of-Work. The company will hold a crowdsale from 14 December, 2017 till 31 January, 2018. Mining platform is ready and ad platform is almost ready. They allow to communicate directly with an audience of gamers, developers and advertisers. For maintaining the infrastructure and its popularization after Game Machine blockchain start we launch: -Game Machine Client- miner, shop of in-game items, tasks from partners and advertisers of Ads Machine; -Game Machine Wallet- purse for carrying out transactions of cryptocurrency GMIT and later- Gamefuel; -Rise Machine- ICO- crowdfunding platform for fund raising for game projects and releasing own tokens; -Exchange Machine – crypto-exchange for gamers, game developers and advertisers; -Ads Machine- ad network for a game-industry.It will allows to target on characteristics, games, desktop and mobile connection. Gamer gets awarded immediately after completing the tasks from advertisers, so this is a fair exchange between an advertiser and a gamer. Our advantage is also knowing the connection between gamers’ desktop and mobile app.It is performed with the help of the miner remote control. They also know which games users prefer and can offer a beneficial and stable partnership. Key benefits: 2 products already work Proof-of-Work, Proof-of-Authority principles combined Profile industry advisors Ecosystem for game industry with 5 products 19 full-time employees More than 1,000 users in our decentralised network Team is established in 2013 (ex. Development agency hakk.ru) Strong legal partners, compliant with EU and US Growing market of game industry with $108.9B in 2017 How to earn Gamefuel GMIT will be exchanged in proportion 1:1 on Gamefuel. It is being released for developing our own blockchain. There are a few ways to earn these currency: Mining. All of the gamers who have PCs are able to download the application and mine the currency. Then they can exchange currency on the in-game items. Completing the advertisers’ tasks. Our advertising partners will be able to give our gamers tasks like watching videos or downloading apps for awarding them with additional coins. Advertisers can pick the exact target audience for offering them their tasks. Joining the token sale. To get the Gamefuel currency anyone can join the token sale of Game Machine by going on Game Machine official site and signing in for the sale.   Token Sale Game Machine will be offering 140 million GMIT tokens in total. The ICO …

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Russia Unveils Details of Cryptocurrency Bill Expected in February

Source : Russia Unveils Details of Cryptocurrency Bill Expected in February Russia’s Deputy Finance Minister announced that the cryptocurrency bill is expected to be ready by February 1. He then unveiled some details of the bill, including taxation and registration of crypto miners, trading restrictions for bitcoin, and initial coin offering (ICOs) regulations. Also read: Bitcoin-Based Ethereum Rival RSK Set to Launch Next Month Crypto Bill Expected in February The Russian finance ministry and the central bank are actively working together on a regulatory framework for cryptocurrencies and ICOs. This follows a mandate by president Vladimir Putin for their regulations to be implemented by July of next year. Deputy finance minister, Alexei Moiseev, said on Wednesday in an interview on Russia 24 TV Channel: If I’m not mistaken, the proposals should be formulated by February 1 in the framework of the president’s mandate. This bill is expected to be adopted in the Spring and lots of discussions are anticipated, he expressed. In addition, he “believes that changes to the Civil Code of the Russian Federation in connection with the adoption of the draft law on the regulation of cryptocurrencies will not be required,” Tass conveyed. Miner Licensing Unlikely But Taxes a Certainty Olga Skorobogatova.The finance ministry agrees with the central bank’s first deputy chairman, Olga Skorobogatova, who said earlier this week that “cryptocurrency mining is a kind of activity of legal entities and private entrepreneurs [which] should be taxed.” In October, the finance ministry also proposed that crypto miners need to register with the government and any exchanges dealing with them needs to be licensed. However, the Tass reported Moiseev saying on Wednesday that: The Ministry of Finance does not intend to introduce licensing for the mining of ccryptocurrency but the mining will be taxed. Crypto-Trading Restrictions & ICOs As for cryptocurrency trading, Moiseev was quoted by Vestifinance on Wednesday stating: We have not yet allowed cryptocurrency trading in the Russian Federation, that is, only ICO is offered. He then reiterated his previous position, “We said that people can be allowed to buy and sell on licensed sites if they are qualified investors.” As for bitcoin trading in the Russian market, the authorities intend to register all entities involved as soon as possible, the publication conveyed, adding that “however, it is possible that the restrictive measures will be temporary.” While emphasizing that bitcoin trading is “not directly legalized,” Moiseev also said, “there is no direct prohibition.” The bill will also address ICO regulations. Moiseev explained that “there may be a limit on the amount,” the news outlet reported and quoted him saying “there should be some prospectuses and legal obligations.” In addition, there should be some secondary markets for ICOs, he elaborated, adding that “the issuer should be able to buy out.” Furthermore, ICO investors should be able to trade the tokens on secondary markets and all information must be accurately portrayed, he concluded. What do you think the Russian cryptocurrency bill so far? Let us know in the comments section below. Images courtesy …

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FCA Issues Warning Regarding Cryptocurrency CFDs

Source : FCA Issues Warning Regarding Cryptocurrency CFDs The United Kingdom’s Financial Conduct Authority (FCA) has published a warning aimed at retail investors who may be considering or soliciting cryptocurrency CFDs (contracts for difference). The U.K. regulator emphasized the risks associated with the price volatility, charges and funding costs, leveraged trading products, and price transparency, asserting that such may manifest in the cryptocurrency […] The post FCA Issues Warning Regarding Cryptocurrency CFDs appeared first on The Bitcoin News – Leading Bitcoin and Crypto News since 2012.

Singapore's Central Bank Outlines When ICOs Are and Aren't Securities

Source : Singapore’s Central Bank Outlines When ICOs Are and Aren’t Securities Singapore’s de facto central bank has published new guidelines on initial coin offerings (ICOs), outlining how token sales would be viewed under its securities laws. According to a Nov. 14 statement  from the Monetary Authority of Singapore (MAS), tokens sold through the blockchain funding model may be considered securities under certain circumstances, citing Singapore’s Securities and Futures […] The post Singapore’s Central Bank Outlines When ICOs Are and Aren’t Securities appeared first on Bitcoin Wiki.

FCA Issues Warning Regarding Cryptocurrency CFDs

Source : FCA Issues Warning Regarding Cryptocurrency CFDs The United Kingdom’s Financial Conduct Authority (FCA) has published a warning aimed at retail investors who may be considering or soliciting cryptocurrency CFDs (contracts for difference). The U.K. regulator emphasized the risks associated with the price volatility, charges and funding costs, leveraged trading products, and price transparency, asserting that such may manifest in the cryptocurrency CFD markets. Also Read: FCA Accuses Banks of Anti-Competitive Practices Towards DLT Start-Ups The U.K.’s Financial Regulator Has Warned That Cryptocurrency CFDs Are “Increasingly Being Marketed to Consumers” The FCA has issued a warning targeted at potential retail investors regarding cryptocurrency CFDs. The Financial Conduct Authority states that “these products are extremely high-risk, speculative products,” adding that the “warning is to inform consumers about the risks of buying them.” The FCA describes contracts for difference as “complex financial instruments which allow you to speculate on the price of an asset [that] are often offered through online platforms.” The U.K. regulator defines cryptocurrencies as “a virtual currency that is not issued or backed by a central bank or government.” The FCA Identifies Four Key Areas of Concern: Price Volatility, Leverage, Charges and Funding, and Price Transparency The United Kingdom’s FCA states that “CFDs are typically offered with leverage which… multiplies the impact of price changes on both profits and losses.” The U.K. regulator warns that when trading with margin, investors “can lose money very rapidly.” The Financial Conduct Authority warns that cryptocurrencies “have experienced significant price volatility in the past year.” The FCA states that “cryptocurrency CFDs are an extremely high-risk, speculative investment… [that] are vulnerable to sharp changes in price due to unexpected events or changes in market sentiment. The FCA warns that “the value of some cryptocurrencies recently fell by more than 30% in a single day,” adding that leverage trading during such volatile market conditions ”places [investors] at risk of suffering significant losses.” The FCA Warns That The “Charges and Funding Costs” Associated With Cryptocurrency CFDs “Tend to Be Significantly Higher Than for Other CFD Products” The financial regulator asserts that “fees can include the spread, funding charges, and commissions” incurred while trading, stressing that investors “should consider the impact of these fees, which may vary significantly between firms.” The UK regulator also warns that the forces driving price fluctuations in the price of cryptocurrency CFDs may not be as transparent as those that guide the markets of traditional currencies. The FCA notes that “there can be more significant variations in the pricing of cryptocurrencies” and “there is a greater risk [investors] will not receive a fair and accurate price for the underlying cryptocurrency when trading.” CFDs Fall Under the Regulatory Jurisdiction of the FCA The FCA states that investors trading cryptocurrency CFDs are afforded the protections “offered by the UK’s financial services regulatory framework.” Said protections means that firms providing CFDs “must be authorized and supervised by [the FCA],” and “individuals complaints can be referred to The Financial Ombudsman Service.” The FCA adds that some …

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UK Finance Regulator Warns Against Cryptocurrency Derivatives

Source : UK Finance Regulator Warns Against Cryptocurrency Derivatives A U.K. finance regulator has warned consumers about a particular kind of derivative contract based on cryptocurrencies. In a release on its website , the U.K. Financial Conduct Authority (FCA) cautioned would-be investors in cryptocurrency contracts-for-differences, or CFDs. Under a CFD, the two parties involved agree to pay either side in the event that the […] The post UK Finance Regulator Warns Against Cryptocurrency Derivatives appeared first on Bitcoin Wiki.

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