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Cryptopmedia News This Week

 
It has been a week if huge gains for crypto Investors this week and it is vital we access the top news for the week.

$2.2 Billion and Climbing: How Litecoin Surged 10% Overnight to Become the 4th Largest Cryptocurrency

 
Litecoin (LTC) has increased by more than 10 percent in value in the past 3 hours from $33 to $38, becoming the 4th largest currency in the global crypto market.
EOS, which secured its position as the 4th most valuable cryptocurrency behind Bitcoin, Ripple, and Ethereum since 2018, was surpassed by Litecoin.
Personal comment- This is a massive win for us at Cryptomedia because we forecasted that Litecoin would bounce back strongly. Last month, we examined an opinion that stated that many cryptocurrencies would drop by February and we showed that it would not. Now, the prediction is paying off and I believe the rise will continue.
Source: $2.2 Billion and Climbing: How Litecoin Surged 10% Overnight to Become the 4th Largest Cryptocurrency

Bitcoin Use Is Quietly Surging Back to Its Peak

 
Bitcoin is quietly gaining momentum again. The number of confirmed transactions per day has reached levels not seen since 2017, the year when the world’s largest cryptocurrency surged in value and made international headlines.
Personal comment- Along with Litecoin’s surge this week, Bitcoin has began to bounce back from the decline it has been experiencing. For a currency which was tagged as obsolete and walking on its grave, Bitcoin has surprised many people and given delight to many investors.
Source:Bitcoin Use Is Quietly Surging Back to Its Peak

Cryptocurrency fans are just loving the Wells Fargo banking outage

 
With Wells Fargo customers unable to access their accounts Thursday after a “power shutdown” at a bank facility, cryptocurrency advocates on social media quickly argued that their coins’ decentralized networks can better withstand such problems.
Personal comment- Every time I read this kind of news, I smile deeply because it is just one of the predictions coming to pass. Traditional banking institutions are gradually failing and more people will keep coming over to choose Cryptocurrency. If you are in need of any more proof, here is a news source to convince you.
Source:Cryptocurrency fans are just loving the Wells Fargo banking outage

Why Samsung & Opera’s Crypto Wallets Will Fuel Mass Bitcoin Adoption

 
This week, major browser operator Opera has integrated a feature to purchase crypto into its Android app less than three months since announcing its plans to further explore blockchain technology.
With a partnership with Safello, a European crypto exchange, users are now able to purchase cryptocurrencies directly from the Opera browser.
Personal comment- Last month, I brought a news source that concerned Samsung and its adoption of Crypto Wallets. Now, it seems as if Opera is towing the same line. This is an additional win because many people will now be easily able to purchase their crypto coins and engage in their transaction. This will also ultimately open a new furry of Crypto Investors.
Source: Why Samsung & Opera’s Crypto Wallets Will Fuel Mass Bitcoin Adoption
 

Is Cryptocurrency Powering the Explosive Economic Growth in Malta?

 
The blockchain and cryptocurrency-friendly nation of Malta has been forecast as the nation to experience the most economic growth during 2019. The European Commission projected that the small island country’s economy would grow by a huge 5.2% during the period.
Personal comment- It has been proven to boost the economy of South Korea and a handful of other countries, now cryptocurrency is helping Malta to experience exponential growth margins. There is no doubting the fact that this news would spell better credibility for Cryptocurrency and I am looking forward to the next World Economic Summit where this information would be discussed in more details.
Source: Is Cryptocurrency Powering the Explosive Economic Growth in Malta?

Cryptomedia News This Week

 
Another week has passed by in the cryptocurrency world and we are super excited to present some of the news that broke out this week.
 

A new Harry Potter–themed cryptocurrency is like a more private version of Bitcoin

 
In the Harry Potter books, the tongue-tying curse was a brilliant way to stump other wizards in a duel. Shut them up and they couldn’t cast another spell at you. The MimbleWimble curse, and its promise of silence, is part of the mysterious inspiration behind a new kind of blockchain technology that every fan of cryptocurrency is suddenly talking about. Besides its curiously compelling origins, it could hold a solution to something that many people see as one of the biggest limitations of Bitcoin and similar blockchains: the difficulty of keeping transactions truly private.
Personal comment- As a personal Harry Potter fan, this news caught me by surprise. Just like others, I am very interested in knowing how this cryptocurrency will pan out. Indeed, many cryptocurrencies promise total privacy but in order to be verified, they compromise this feature. If this cryptocurrency eventually does what it promised, it would be patronized by many
Source: https://www.technologyreview.com/s/612863/a-new-harry-potterthemed-cryptocurrency-is-like-a-more-private-version-of-bitcoin/

Final Testing’ Phase: Fidelity Nears Launch of Cryptocurrency Trading & Custody Platform

 
Much excitement has been building since the large American financial services firm Fidelity Investments first announced back in October that they were building a cryptocurrency trading and custody platform. They are now almost ready to launch their Fidelity Digital Assets Exchange.
Personal comment- Anyone who knows about Fidelity investment should be very excited about this project. I mean, with a dynamic team managing the cryptocurrency project, it would be very profitable and stable. Let’s keep our fingers crossed for more updates about the project.
Source: https://www.ccn.com/final-testing-phase-fidelity-nears-launch-of-cryptocurrency-trading-custody-platform

Who is Actually Going to Buy Iran’s New Cryptocurrency?

 
Iran is creating a state-backed cryptocurrency. The options for the digital token are currently open. Reportedly, it’s initially only for crypto companies to do business with the Central Bank of Iran. Later, it will be used as a means to facilitate payments between Iran and other countries for goods and services.
Personal comment- What a news! I mean, who could have imagined that a country like Iran could be making moves like this? However, if you read the news further, you would note that it is not like the traditional cryptocurrency because this will be controlled by the Iranian government. If you fear that the Government will use the funds to engage in terror acts, it is better to steer clear from investing here.
Source: https://www.ccn.com/who-is-actually-going-to-buy-irans-new-cryptocurrency

The $700 billion dollar “Death of Cryptocurrency” is just the beginning

 
The depression cycle is always [not just in cryptocurrency] the most important time to be vigilant for new investments. While a lot of old projects will succeed, a lot that came through in the ICO boom are dying, new ones will be there to take their place.
Personal comment- Whenever I see news just like this, I am immediately interested because I wish to identify the strength of the argument put forth by the analyst. For this particular one, I can say that his argument is very weak, as he seems to be a kind of doomsday analyst. Everyone who has an understanding of financial markets would understand that this is just a bear season and it would soon change. No need to fear folks. Just make sure you invest right
Source: https://ambcrypto.com/the-700-billion-dollar-death-of-cryptocurrency-is-just-the-beginning/

Bitcoin (BTC) is Money: Wyoming Passes Bill to Recognize Cryptocurrency

 
According to a new bill, which was first presented on Jan. 18, 2019 and passed Jan. 31, The Cowboy State will begin to recognize all forms of cryptocurrency under the same regulations and attributions as that of fiat money. While the bill was passed with relatively little fanfare, it may be looked back upon in the timeline of cryptocurrency evolution as a more landmark event.
Personal comment- Any analyst of cryptocurrency would simply have to admit that the past week has not been the perfect one for crypto enthusiasts. Despite this, this can categorically be termed the best news that the week brought. It’s official folks: no more standing on the sidelines of non-acceptance for cryptocurrency. I believe this is a news to celebrate to.
Source: https://ethereumworldnews.com/wyoming-cryptocurrency-bill-money-2019/

Cryptopmedia News This Week

It’s another week end and I am here to present to you the biggest news in the Crypto industry this week.
 

Samsung’s New Galaxy S10 Could Give Surprise Boost To Bitcoin Adoption

leaked images of the upcoming new Samsung Galaxy S10 suggest the smartphone could aid bitcoin adoption with a built-in cryptocurrency wallet.
Personal comment: What an excellent news for Samsung users! For a long time people have been afraid in making a choice on the best cryptocurrency wallets that will not be hacked. Well, I present to you Samsung wallet which will definitely be one of the most impregnable wallets ever.
Source: https://www.forbes.com/sites/billybambrough/2019/01/25/samsungs-new-galaxy-s10-could-give-surprise-boost-to-bitcoin-adoption/#2f7a5d266010

Regulators snub SA cryptocurrency developers

Regulators have quietly barred cryptocurrency developers from having access to a tax incentive aimed at spurring innovation in SA. It is likely to hinder the country’s chances of being at the forefront of the fledgling digital money market.
Personal comment: Oh no! This is not an encouraging news coming from South Africa at all. I mean, about three weeks ago I posted a news source that showcased progress in the acceptance of cryptocurrency. However, this is just a temporary setback as Cryptocurrency is like a wave that cannot be stopped despite challenges. Better days will come for South African cryptocurrency industry
Source: https://www.businesslive.co.za/fm/fm-fox/digital/2019-01-25-regulators-snub-sa-cryptocurrency-developers/

Davos World Economic Forum: Insights from the Blockchain and Cryptocurrency Debate

Cryptocurrency, despite the massive drop in value from a year prior, was still a hot topic of discussion at the World Economic Forum in Davos, Switzerland. Experts on cryptocurrency and blockchain debated the technology in the panel “Building a Sustainable Crypto-Architecture” with insight into both sides of the discussion.
Personal comment: Every time I read this news source, I feel a glow within as it is a reminder that the industry has been recognized and analysts are teaming up to help the crypto industry take giant strides forward. Now the world has recognized the gift of Blockchain which Bitcoin gifted to it. Soon, Cryptos would replace every traditional currency.
Source: https://cryptoslate.com/davos-world-economic-forum-blockchain-cryptocurrency-debate/

This Trojan infects Chrome browser extensions, spoofs searches to steal cryptocurrency

The Razy Trojan is targeting legitimate browser extensions and is spoofing search results in the quest to raid cryptocurrency wallets and steal virtual coins from victims.
According to new research published by Kaspersky Lab, the malware, known as Razy, is a Trojan which uses some of the more unusual techniques on record when infecting systems.
Personal comment: I want you to really sit up and read through this news source because it contains helpful information on how to avoid being a victim. I believe this is another nasty type of cryptojacking which can be salient and deadly. Take necessary precautions very fast!
Source: https://www.zdnet.com/article/razy-infects-legitimate-browser-extensions-to-steal-cryptocurrency/

Will people ditch cash for cryptocurrency? Japan is about to find out

Prime Minister Shinzo Abe says he wants 40% of payments to be cashless by 2025. In August, the government announced plans to offer tax breaks and subsidies for companies that get on board. And while everything from credit card payments to transactions using QR codes would qualify, some of the country’s biggest financial players think the way to wean Japan off cash lies in the technology that runs Bitcoin.
Personal comment: Japan will be holding the next Olympics by 2020 and I believe this news is coming as a way to prepare for the millions of tourists that would be there. Just like I have always said, Japan, South Korea are leading the charge for crypto acceptance and this news just warms my heart. Currently there are plans by traditional financial institutions to phase out their currencies in favor of Crypto coins. Talk about forward thinking!
Source: https://www.technologyreview.com/s/611656/will-people-ditch-cash-for-cryptocurrency-japan-is-about-to-find-out/

Cryptomedia News This week

What a week! The world of Cryptocurrency keeps getting better despite the bear season. In this week’s edition, we will be witnessing the ‘wins’ which are being recorded in the industry and how these wins are going to positively affect investors. Stay tuned!

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17.
Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its single-currency products to trusts.
Personal comment: This news of acquisition may just seem like another news but it is vital to those who have invested in Stellar coin. If you have been paying close attention to the coin, you would notice that it has been steadily experiencing a rise. Also, the forward thinking plans of the team behind the coin made it possible for this addition to happen. Investors should definitely experience bigger moves from Stellar coin in the future
Source: https://cointelegraph.com/news/grayscale-adds-stellar-as-latest-cryptocurrency-investment-trust

Ethereum’s Split Pushed Back Until After Valentine’s Day

The developer group that helps manage the Ethereum cryptocurrency network said a delayed software update will now take place on Feb. 27.
The so-called fork will reduce rewards paid to miners to two coins from three per block, and it should reduce inflation and bring more stability to the Ether digital coin. The upgrade is designed to stave off the so-called difficulty bomb, which would make the network unusable unless regular software upgrades are made.
Personal comment: Many would have noticed that the Ethereum network in terms of transactions is being slower due to the cumbersome workload. In order to lessen the load of transactions, the team decided to split it. It is important that investors should not regard this as negative move. Rather, it is a positive move for the coin as there would be increase of trust in its capabilities. In other news, the Ethereum coin has been fluctuating for a while now.
Source: https://www.bloomberg.com/news/articles/2019-01-18/cryptocurrency-ethereum-s-network-update-pushed-back-to-february

The hottest cryptocurrency, Tron, rekindles memories of the bitcoin bubble for worldwide traders

Memories die hard in the cryptocurrency market, where a digital token known as Tron has almost doubled in value over the past month.
Like many of the start-ups that surged in value before crashing during the digital-asset market bubble, the company features a young entrepreneur, questions about usage of its main product and a lot of hype
Personal comment: Now this is news that I know many investors of Tron would be intrigued by. If you have taken notice, in the year 2018, it seemed as if Tron would never pick up at all. The coin would steadily make progress, only to regress again. However, this seems to be the year that it would encounter exponential growth. However, I will always bid caution for short term investors because a rise like this may be followed by a little fall
https://m.scmp.com/business/banking-finance/article/2182632/hottest-cryptocurrency-tron-rekindles-memories-bitcoin

Russia’s cryptocurrency adoption: Russian Prime Minister urges people to not ‘bury’ cryptocurrencies

Russia is moving a step closer towards cryptocurrency and its Prime Minister, Dmitry Medvedev made it clear as he claimed that the ongoing crypto bear market should not be a reason to “bury” cryptocurrencies. The Prime Minister said this on January 15 in a speech at the 10th Gaidar Forum, informed TASS.
Personal comment- Another big massive win for Cryptocurrency, and a big blow for traditional financial institutions. Do you know how much of a positive impact this means for crypto Investors and potential startups in Russia? I guess you know that the answer is BIG. Now, since one of the G5 countries has shown massive support for Cryptocurrency, the others will have to stop showing a blind eye and focus on acceptance. I can say that a major hurdle has been passed folks and you can be rest assured that the industry is here to stay.
Source: https://ambcrypto.com/russias-cryptocurrency-adoption-russian-prime-minister-urges-people-to-not-bury-cryptocurrencies/

MIT and Stanford Professors Are Designing a Cryptocurrency to Top Bitcoin: Unit-e

Some of the brightest minds in America are pooling their brain power to create a cryptocurrency that’s designed to do what Bitcoin has proved incapable of: processing thousands of transactions a second.
Professors from seven U.S. colleges including the Massachusetts Institute of Technology, Stanford University and University of California, Berkeley have teamed up to create a digital currency that they hope can achieve speeds Bitcoin users can only dream of without compromising on its core tenant of decentralization. The Unit-e, as the virtual currency is called, is the first initiative of Distributed Technology Research, a non-profit foundation formed by the academics with backing from hedge fund Pantera Capital Management LP to develop decentralized technologies.
Personal comment: Didn’t see this news coming at all. I mean, these reputable Professors coming out to research on their own crypto? Now that is new. However, I like the fresh initiative especially going with fact that they are doing it for a just cause. This is a currency I will definitely be looking into and bringing you premium updates on its progress
Source: http://fortune.com/2019/01/17/unit-e-cryptocurrency-news-bitcoin/

Cryptomedia News this week

 
What has been happening in the world of Cryptocurrency of late? Well, there have been the usual speculations and other news. Again, we have compiled five of the best cryptocurrency news that made their rounds on the Internet this past week.
 

Hackers are stealing computer power to make millions in cryptocurrency

Guillermo Suarez-Tangil at King’s College London and Sergio Pastrana at Madrid’s Carlos III University analysed more than 4.4 million malware samples that were used for cryptojacking between 2007 and 2018.
The pair found cryptojacking had generated an estimated $57 million worldwide since 2007, with the top-earning gang minting $18 million worth of cryptocurrency
 
Personal comment– it is quite pathetic that this trend of cryptojacking is one that is still making waves. For every reader and investor of cryptocurrency, there is the need to be very vigilant because these hackers are vicious. On a personal level, we would be looking forward to the measures being taken by cryptocurrency teams in order to battle this trend
Source- https://www.newscientist.com/article/2190435-hackers-are-stealing-computer-power-to-make-millions-in-cryptocurrency/

Cryptocurrency Markets Plunge 11% in a Single Day

Just when things were looking positive for 2019, and cryptocurrency markets were making a slow recovery from their December lows, the bears came out in force and smashed them to bits over the past 24 hours.
Over $15 billion has been lost from crypto assets since the same time yesterday resulting in a daily crash of over 11%. There were two separate dumps each occurring over about an hour as the tsunami of bears beat the hell out of Bitcoin and its brethren.
 
Personal comment– This is certainly not a good news for any cryptocurrency investor. I personally witnessed the downward trend and felt it does not spell well for the industry. However, I believe that many long term investors will still regain their profits as opposed to short term investors. I believe there are better days ahead
Source- https://ethereumworldnews.com/cryptocurrency-markets-plunge-11-in-a-single-day/
 

Cryptocurrency adoption prohibited by Indian banks

The Reserve Bank of India, India’s central banking institution had prohibited the banks of the country from providing any assistance or services to cryptocurrency business. Following this, the banks in India are taking things one step ahead by asking customers to sign contracts stating that they will not use cryptocurrencies of any kind as a part of their new terms and conditions of service agreements.
 
Personal comment: The battle for the acceptance of cryptocurrencies within every nation will always be very difficult. Within India, though the Federal Government is slowly accepting the currency, the traditional banking industry is fighting against it. However, Cryptocurrency is the currency of the future and this means that it won’t be long before victory comes.
Source- https://ambcrypto.com/cryptocurrency-adoption-prohibited-by-indian-banks-force-customers-to-sign-contract/

South Korea Government Approves Seven out of 21 Cryptocurrency Exchanges’ Security Policy

Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10.
Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018.
 
Personal comment– How odd is this news, in the previous news source we saw a resistance to Cryptocurrency, however, we can see that another country is accepting the coin. The significance of this act by the South Korean government is great as it gives more credence to the industry. Ultimately, the remaining 14 cryptocurrencies would need to go back to the drawing board in order to convince the South Korean government. We should also give thumbs up to the government.
Source: https://cointelegraph.com/news/south-korea-government-approves-seven-out-of-21-cryptocurrency-exchanges-security-policy
 

Cryptocurrency Ransom Demanded for Wife of Norwegian Tycoon

The wife of a wealthy Norwegian businessman has been kidnapped, and demands have been made for a hefty ransom paid in cryptocurrency, the police revealed this week, as a drama that had been playing out secretly for months burst into public view.
A scarcely decipherable ransom note was left for Mr. Hagen, containing death threats and requests for large quantities of Monero, an unregulated cryptocurrency that is known for anonymous transactions.
 
Personal comment– Sadly, this is one of the worst news of the week. This is the kind of news that makes governments to recede in their acceptance of Cryptocurrencies. Because of the fact that it is difficult in tracing the coin, many security analysts would jump on the bandwagon of condemning cryptocurrencies now. However, we hope that she is recovered in good shape and the kidnappers are caught.
Source: https://www.nytimes.com/2019/01/10/world/europe/norway-kidnapping-monero.html

Cryptopmedia News This Week

A lot has been happening in the world of cryptocurrency of late and as a flag off, we will be bringing you five juicy news stories from the industry this week. Stay tuned as we delve into news.
 

Analyst Predicts Boom for Bitcoin

Clem Chambers, an author on Trading Cryptocurrencies, told the Standard that he invested between $1,000 and $2,500 on most of his initial Bitcoins and sold them at $18,000.
He predicts another boom for the cryptocurrency in the future.
“Bitcoin will boom again in a year and blockchain/cryptocurrencies and other applications will define the next 25 years in the same way as online/dotcom has defined the last 25,” he said.
Personal comment: I believe that it is quite a bit early for anyone to predict the kind of year which Bitcoin will have, especially going with the fact that it has not been performing so well. If you are thinking of investing, I want you to take a little time to look at the trends before you make the choice to invest.
 

Top Indian Companies Bank On Cryptocurrency For Internal Use

Several top corporates and banks are experimenting with virtual currency as a more transparent treasury management tool for optimal utilisation of working capital, settlement among subsidiaries and paying vendors and suppliers while being cautious about regulatory compliance.
Even as bitcoin loses sheen, some companies and banks are looking to use digital currency for their internal operations based on blockchain technology, said people with direct knowledge of the matter. They said Hindustan Unilever Ltd (HUL), Reliance Industries Ltd (RIL), HDFC Bank and ABG Shipyard are among those running such pilots for internal treasury management, record keeping and trade finance functions. ET spoke to some of the people working directly on blockchain pilots.
 
Personal comment: On a regular basis, I have noticed that the news coming from India’s cryptocurrency sector has been positive. The government has been showing positive stand towards the industry and this particular news is very good. It helps to reinstate the validity of cryptocurrency and show that it will take over traditional currencies.
 

Bittorrent Launches Cryptocurrency

Peer-to-peer file sharing platform BitTorrent will launch its own cryptocurrency with the aim of creating an economy around networking, bandwidth and storage.
Crypto tokens, dubbed BitTorrent (BTT), will be added to the company’s widely-used Windows client uTorrent.
Personal comment: I believe this is a positive move for the industry as BitTorrent is one of the world’s largest sharing sites. More than a billion people use torrent and I think it would be a nice investment for any aspiring investor since the popularity of BitTorrent is undisputed.
 

South Africa Constitutes Working Group To Explore Cryptocurrency Potential

According to a recent report on local news media Business live, the South African government has constituted a regulatory working group to evaluate the prospects of cryptocurrency and blockchain in the country. The crypto industry is exponentially growing in South Africa, and the growth has mandated the government to come up with some kind of regulatory framework to bring the digital coins under its purview.
Personal comment: Some time ago, some experts stated that the craze of cryptocurrencies would die down and countries would not consider them. I wish those experts are here to see this news. Slowly, Africa is warming up to the embrace of Cryptocurrencies and it will not be long before other heavyweight countries like Nigeria, Egypt, Ghana and others choose to embrace cryptocurrencies. Hopefully, there would be a burst of ICO launch from that part of the globe
 

Paying Taxes In Bitcoin: Retailer Overstock Says It Will Pay Ohio Using Digital Money

Online retailer, Overstock, announced it would pay a part of its Ohio state business tax using the famous digital currency. The move comes after the state last fall unveiled a first-of-its-kind payment portal called OhioCrypto, which lets companies remit taxes using cryptocurrency.
In an interview with Fortune, Ohio Treasurer Josh Mandel said the Bitcoin tax collection program is aimed at providing convenience to businesses, and branding the state as a leader in the adoption of blockchain technology.
 
Personal comment: it is comforting to see that many organizations are slowly getting to make use of the Blockchain Technology in their business practice. Also, the fact that a big company has decided to pay its taxes in Bitcoin speaks a lot of positive volumes for the industry. With Overstock making this bold move, we will be seeing a glut of more companies paying their taxes with Bitcoin and other coins.
 

【Reference】
Expert predicts cryptocurrency boom ‘within a year’ as Bitcoin marks its 10th anniversary
BitTorrent launches cryptocurrency that users can trade for faster downloads via uTorrent
OUTH AFRICA CONSTITUTES WORKING GROUP TO EXPLORE CRYPTOCURRENCY POTENTIAL
top companies bank on cryptocurrency for internal use
Overstock.com to Pay Ohio State Business Taxes in Bitcoin Using OhioCrypto.com

Cryptopmedia News Today

TURKEY SET TO SHIFT TO CRYPTOCURRENCY DESPITE LIRA RECOVERY

Reports from Turkey suggests that investors are looking to embrace crypto and turning their backs on Lira despite its recovery. Turkish investors will spend more on cryptocurrencies in coming years.
According to report by Turkish researcher Twentify, they found that at least one in five respondents say they had started trading in cryptocurrencies since August this year. That was the period when the Lira massively plummeted in price. However, since that time onwards it has gone up by about 26% against the USD. Although, inflation in the Islamic nation remains high at 21.62% year-on-year as of November.
This is another reason that has made investors look for alternative ways to adequately protect their savings. Reuters reported that the growth of the Turkish economy has “crumbled to 1.6% year-on-year as of the third quarter of the year which is down from the 7% it dropped to in 2017.
Writing in a column for the Hürriyet Daily News, Erus Ablak a Turkish journalist and business expert declared that:
“It makes me very happy that the latest digital currency investments involve our country Turkey. This is partly because the Turkish people are adaptable to new technological advances and new methods.” Hence, it is easy to establish an eager crypto market.

CRYPTO IS AN ATTRACTIVE YET RISKY ALTERNATIVE FOR TURKISH

The Directorate of Religious Affairs the country’s chief religious body has previously ruled that digital asset use is not permitted under Islamic law. However, State author Sara Nasser goes on to conclude that, nevertheless, “digital currency can be seen as an attractive, yet risky dream” for most Turks. Vitalik Buterin, Ethereum’s co-founder, recently interacted with several Turkish crypto-enthusiasts via Twitter, expressing his shock at the growing size of the Islamic nation’s crypto-community.
Additionally, the fact that Istanbul will host the Blockchain Economy Summit, next February is an indication that the country is becoming more flexible regarding digital assets. The Blockchain Economy Summit is the AME region’s largest Blockchain and cryptocurrency-based forums.

BITCOIN COLLAPSE STILL CONTINUES

Bitcoin has experienced a modest price recovery following weeks of heavy losses, though market analysts warn the collapse may not yet be over. The cryptocurrency briefly dropped below $3,300 (£2,600) on Friday – taking it to its lowest value since August 2017 – but returned above $3,500 over the weekend. Less than a year ago, bitcoin was trading at close to $20,000.
It is not the first time in bitcoin’s 10-year history that it has seen such losses, leading experts to speculate how much further it might fall.
“In the past nine years, the crypto asset market experienced five major corrections with an 85 per cent drop in value on average,” Mati Greenspan, a senior market analyst at the online trading platform eToro, told The Independent.
“On this occasion, for bitcoin to record the same 85 per cent drop, its price would have to fall to $2,950.”
The latest prediction comes amid widespread speculation concerning the future of bitcoin and other leading cryptocurrencies like ethereum and ripple.
Noted investor Bobby Lee, who co-founded the Hong Kong-based bitcoin exchange BTCC, also pointed to previous market patterns to indicate what direction the price may go. Mr Lee suggested in a series of tweets that bitcoin could fall by another £1,000 before seeing a strong recovery.
“If history repeats itself perfectly, then the current bear market for Bitcoin would bottom out at $2,500 next month, in Jan 2019,” he tweeted.
“And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.”
It is not the only optimistic price forecast from a prominent figure in the cryptocurrency space, with Blockstream founder Adam Back recently suggesting that future gains will take bitcoin to more than 100-times today’s value.Responding to Mr Lee on Twitter, he said: “Personally I consider $250k-$500k/BTC plausible in the years ahead.”

ONLY TWO ASIC BITCOIN MINING RINGS REMAIN PROFITABLE

According to real-time data published by mining profitability data site ASICMinerValue.com (AMV), even the newest crypto mining machines are struggling to seal profits for their operators amid the cryptocurrency market crash.
AMV is a site that calculates real-time profitability rates for “ASIC” miners, hardware that uses Application-Specific Integrated Circuit (ASIC) chips, tailored to efficiently mine cryptocurrency based on a specific hashing algorithm. Updated every minute, the site calculates profit yields for specific miners based on current power costs, network difficulty, block rewards, and cryptocurrency prices.
As of press time, the site indicates that among ASIC mining machines geared to mine coins that are based on cryptographic hash function “SHA-256” –– such as Bitcoin (BTC) and Bitcoin Cash (BCH) –– only two are currently making any profit. Both models were released in October 2018, and show $0.58 and $0.21 in daily profits.
The currently most profitable machine, the Ebit 11++, was released by Chinese mining hardware manufacturer Ebang Communication and is currently priced at $2,024.
Just this week, mining manufacturing giant Bitmain has announced it will be closing its development center in Israel and firing local employees, with local reports attributing the decision to “the current situation” and “shake-up” of the global crypto market.
【Reference】
Coin Telegraph
The Independent
Smartereum
 

Unocoin Exchange Opens up the First XRP ATM as Mass Adoption Efforts Pick Up

In this article, we made discussion on Unocoin exchange which opens up first XRP ATM as Mass Adoption.

What Is Unocoin exchange?

The cryptocurrency of Bengaluru Unocoin is going to exchange and support more than 50 digital assets and also going to use first cryptocurrency ATM which further supports five more cryptocurrencies that are named as XRP and Bitcoin. Supreme Court of India specifically not yet well known about the implication and regulation of first ATM cryptocurrency. This statement and decision by them are bold and very well important for which the majority of traders of money investment and cryptocurrency wants to understand this statement. Indian crypto traders took the personal interest in understanding the statement of regulating first ATM cryptocurrency.

Unocoin offers ATM for cryptocurrency?!

As per interesting fact that Unocoin costumers will only avail the offer of ATM cryptocurrency. KYC(Know Your Customer) directive took part for the single dispense that is usually used for the scanning process of users passport. Because it is the most useful and effective way to do a centralized exchange by using master ledger that is having the account and profile details of their costumes.

How to use the ATM

When the user has to buy something or make transaction so an OTP code is provided through which withdrawal is executed. However, the user has to aware of the use and code of their debit and credit cards that are not acceptable for the withdrawal procedure. Unocoin defines itself as a major kind of Indian cryptocurrency but according to RBI’s directive, Unocoin and digital cryptocurrencies didn’t support the Indian rupees deposit and withdrawal. In 2013, the exchanges began in Bengaluru and new official new headquarters receive the first investment from the venture capitalists and also donated these investments into digital currency group.

What it affects XRP

From this incident, it becomes an initiative part and large motive for adapting the XRP and other cryptocurrencies on large scale. This news is meaningful for XRP users and also helps in their businesses as well.
Thanks to these machines now one can easily transfer or receive funds from anywhere and these transactions are transferred within no time. Unocoin decided to make these machines larger in number and put on different malls of India in order to ease the users of Unocoin.
 

【Reference】
ripplecoinnews.com