On Monday, the social media giant Twitter confirmed the rumours that it is going to follow Google and Facebook by banning cryptocurrency advertisements from the website.
According to the announcement, ICO ads, as well as advertisements related to exchanges, token sales, and wallet services (apart from public companies that are registered on the prime stock markets) will be removed from the site. A spokesperson said that the aim of this move is to make sure the safety of Twitter’s community.
New Twitter Policy
This Twitter ICO news went viral as the social media giant clarified:
“We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of ICOs (Initial Coin Offerings) and token sales will be prohibited globally.”
This latest twitter policy will be introduced within the next 30 days. But on the other hand, Twitter will be limiting advertisement for cryptocurrency exchanges in Japan to those, who are under the observation of the national financial regulator.
There were many rumours before that Twitter would ban advertisements related to cryptocurrency especially, when it was first reported by Sky News that such content would be banned from the Twitter’s platform within the next two weeks.
What Jack Dorsey has to say about it?
CEO of Twitter, Jack Dorsey, has conceded the proliferation of cryptocurrency scam accounts earlier, and pledged to crack down on bot accounts in search of cryptocurrencies from others.
Though, some of the site’s response exertions have led to account issues for standard users. According to Twitter, safety for users is the main motivator behind this ban. Few actions were also taken by Twitter in order to prevent accounts related to cryptocurrencies from engaging with others in an illusory manner, but then again it met calls to ratify more actions, subsequent to the bans from Google and Facebook.
Impact of Twitter’s Announcement on Crypto-Market
Cryptocurrency markets were already going through a slump, but after the announcement of Twitter banning cryptocurrency advertisements, the market fell even more.
While talking to Reuters, Kapronasia’s director of financial consultancy, Zennon Kapron mentioned the perils to Twitter itself and said:
“With the increasing number of ICOs coming to market, it is an impossible task for anyone, much fewer platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly, ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.”
In January 2018, Facebook restricted cryptocurrency advertising while the ban from Google was announced at the beginning of this month.
Digital currencies assert itself on the world’s platform. Somehow, few companies introduce some physical bitcoins. And, these physical coins have been used around for years. To appeal the consumer’s company, introduce the coins in attractive designs, precious metals with low price.
Physical coins have the limited market. In additions, coins are as conversation pieces with limited stock. Some of them don’t have the physical appearance but considered as physical because of its specifications.
Meanwhile, a limited market of the physical bitcoin is being a problem. However, supply is less than the demand, so be aware of scams while you are buying coin online.Here are some physical bitcoins.
Mike Caldwell, a couple of years ago Caldwell start minting his coin “Casascius” a couple of years ago. Unfortunately, his product was banned due to some security issues. Whereas, sales of Casascius resume again this year with 3 listing coins with gold plated bar. Whereas, a bag of 500 Casascius costs 0.39 BTC. In addition, Caldwell sells the silver, gold plated products, aluminum promo coins.
These coins were designed by the John B Andelin in tribute to pioneer Adam Smith and French patron saint John of Arc. Basically, Alitin mint is 2 premium coins and the third one is in process of designing.
Pure silver coins with the weight of two ounces. Whereas, each series contain the 600 coins. Adam smith’s coin shipping is with 2BTC and it priced at 2.92 BTC. While Joan of Arc coin’s cost is 1.45 BTC comes with one bitcoin.
A beautiful coin with limited stock designed in the USA. Titan Bitcoin is a type of unique coin ID and purely rooted with a security hologram. Meanwhile, a web page reports the current value of the coin. In addition, you are able to transfer the coin’s amount anywhere in the world with the permission of its one-time redemption code.
Titan’s one gold price is $2279 , while it carries 1 troy ounce of 24-Karat gold and bitcoin. However, the one bitcoin, the titan silver costs $729 with .999 pure silver, too much expensive.
Accordingly, a company has three more coins in a triple digital territory with less price from 0.5 to 1 BTC.
A two in one metal, which is a wallet as well as a physical coin. Cryptmint coin pushed, inspected by the hand to make sure the flawless finish.
This .999 silver is 39 mm in diameter and one troy ounce. Whereas, the price of this silver coin is $99. While company sells copper coin at $42 also. There is an option to choose a coin with different QR design on its back. In addition, these coins are the ship without any bitcoin preloaded.
With 300 unique coins per batch, Antana bitcoin’s difficulty increases within 10 days of a new batch. Antana offers the coins with less price and has mint with the well sense of humor. Each batch of Antana follows a particular theme with statistic data network for a time period.
Whereas, batches of the Antana coins has different names like Goodbye Mt Gox batch, transaction malleability batch, bump and dump batch, race and ROI batch etc.
Meanwhile, these coins are sold at 0.02 to 0.04 BTC. And, full set of 20 Antana coin’s cost is 0.41 BTC. Although, they are infrequent bitcoin motif product, which means they are not physical coins with QR core and hologram.
Ravenbit Satoshi coin
These Satoshi coins are composed of 85% copper with 39mm diameter and 3mm thick. Whereas, the front of these coins is consisting on the outline of a person filled with the binary code that converts to Satoshi Nakamoto. In addition, the kit of Satoshi coin with two security holograms, few goodies, and pouch, cost at $25.
like Antana coins, CoinedBits are not physical coins but relatively novelty new items. One ounce weighted coins are 38mm in diameter and 3mm thick. In addition, CoinedBits are the purely gold plating of 18-Karat. Whereas, these coins cost at $14.99 in northern America. And, for overseas its cost is $19. 99.
A number of unfunded coins with prices from 0.042 to 0.325BTC. whereas a set of Lealana coin is cost at 0.891 BTC.
Coin that never materialized
Most of the physical bitcoin projects are on delay or defunct. Although, they are not asserting themselves and gets out from the race. In the same way, a Chinese bitcoiner introduce a coin of 24-Karat with one ounce. Unfortunately, the current status of the coin is unclear. The coin is,
There is a number of 3d printed designs and they are available at Google search, mostly on 3d marketplaces. Whereas, the issue is, some of the designs are costly. Meanwhile, by making a proper coin you can do a few plastic or semi-professional attached filament printers.
In any case, 3d printing is an alternative process to creating physical coins. Apart from the actual cost, a 3d model cost is € 8.50. whereas services are the different opportunity, but in few belongings cost of printing is less than the price of shipping.
Tags: buy physical bitcoin, physical bitcoin for sale
Due to extreme volatility and back and forth fluctuations of Bitcoin noticed previously, the most talked about the argument is that if Bitcoins and its peers are overruled or still intact. Financial institutions and similar authorities have managed to maintain a safe distance from this digital currency market during the whole stretch. Embracing all the risks and jeopardies, Goldman Sachs has risen with the plan of establishing the first Bitcoin trading desk in the Wall Street.
But what resulted in the giant wall street titan like Goldman to dip toes in the crypto world? According to a Goldman executive, this step was taken keeping in regard a lot of queries and requests by the clients and also crypto investors. A good number of people showed their interest and curiosity in holding Goldman Sachs Bitcoin as their alternative asset.
The First desk
Goldman has hired Justin Schmidt as their first digital asset trader to grip the daily operation. Having a former experience with a hedge fund, Schmidt is determined to navigate the client’s interest in exchange and transaction of the Bitcoin. With an extensive past experience and knowledge, Justin Schmidt has joined one of the most vaunted banks as a vice president and head of Digital Asset Market in the institution’s Securities division.
Being the first major U.S bank to take such initiative, holding the reputation for always staying ahead of its peers, the institution is dedicated to measuring possibilities and options to entertain their clients play with digital crypto if they wish to.
The Breakdown of The Protocol
The facilitation and assistant Goldman is giving to the crypto world will definitely raise institutional transaction and trading of Bitcoin. Raising these legitimacy bars, the cryptocurrencies are beginning to rise up to the ‘seen’ surface levels.
Though following by many significant absurd comments, Goldman is very hopeful and certain about its position. Goldman concludes that they don’t think Bitcoin is a fraud and they honor their client’s interest to hold Bitcoin as a valuable commodity. After receiving inquiries from hedge funds and clients who received the donations in the form of these digital currencies and weren’t aware how to deal with it.
Being extremely volatile and unpredictable, a great deal of uncertainty comes readily with this currency. After a massive hit seen by the start of the year, the prices of Bitcoin have recovered certainly. being fully aware of the risks and certainties of the nature of the initiative, Goldman claims to be knowing what they are getting into.
Goldman Sachs Bitcoin trading will not be initiated right away. To entertain and engage crypto investors, they have planned on trading Bitcoin Futures using their own money on the clients’ behalf at start. Running the trade via its New York desk, they are expected to launch its own version of futures too. So, it will not be an actual trading of the crypto, just the trade of non-deliverable forward futures. These trades will further be settled in regulated fiat currency it was quoted in.
Following the footsteps of Goldman Sachs Bitcoin as the first regulated financial institution to propose such a service, it is expected other banks in line to follow the same lead. But the biggest name ruling out the scenario is the British multinational investment bank, Barclays. According to the presenters, they think this crypto world to be fraud, infectious and delusional. But the key point is a market grown as big as this one, for how long you can ignore it. This initiative by Goldman Sachs shows how far this crypto market has traveled and come under limelight to be considered worthy in the eyes of these wall street titans.
But it is highly hoped, this initiative is not just stopping right here. After reaching its peak by the end of last year and its recession by the start of this year, the hopes with this digital currency has risen. Despite a downfall by 48%, the volatility of this currency is expected to be increased during time due to the more people entering down the pool of this crypto world. It is expected to cross by $50,000 by this year. There are more and more acceptance and support expected in the following next five years in regard to this cryptocurrency.
Despite the firm faced criticism, Goldman Sachs has proven itself as the utmost technologically sophisticated institution on wall street.
As we know, PayPal was never ready to bet on bitcoin due to several reasons. PayPal chief executive, Dan Schulman announced last month that PayPal is not focused on the digital currency market. One of the main reasons for this “untrust” was the volatility of cryptocurrency because which made the retailers are not willing to accept it in most parts of the world.
Is Dan Schulman right or wrong?
And that statement was not false at all, we have noted in the past few months that because of the bitcoin fluctuating up and down, even 20 percent over a couple of weeks, very low margin is left behind for the retailers. Thus, they have to lose a good deal of money on every sale and purchase.
While Schulman also stated that though the blockchain technology is something we can trust and count upon, still PayPal has a lot of options to bring some serious innovations in this technology too.
No doubt it is crystal clear that due to certain irregularities, there are a lot of hidden risks associated with the crypto investment. That’s why South Korea has banned bitcoin exchanges. Meanwhile, JPMorgan Chase chief executive Jamie Dimon called bitcoin a “fraud” last year and said he would fire any trader who traded in it.
Peter Thiel’s Point of View
Aside from the above-mentioned point of view shown by Schulman, PayPal co-founder Peter Thiel recently described Bitcoin as
“a hedge against the whole world falling apart”.
He further exclaimed that while he did not foresee Bitcoin replacing traditional currency, yet there is a strong chance that it may replace gold at some stage.
How can Bitcoin Replace Gold?
When asked to explain in detail his point of view, Peter Thiel explained his thoughts that he was not talking about a new payments system, rather it is like bars of solid gold secured in a vault that has no chance to move anywhere, and it is what he called as a sort of hedge against the whole world going falling apart.
When he was told that Bitcoin has traded around $8000 last week as continuous downward pressure from brokers, he replied that there was a probability of up to 80 percent of the world’s first cryptocurrency to become worthless.
Despite all these statements by the experts, gold remains one of the most liquid assets, traded daily in well-established exchanges all around the world. According to the London Bullion Market Association each day, gold worth of billions is traded in London alone. And to be frank, the cryptocurrency market is not quite there yet.
World’s biggest community of Bitcoin miners, China, is cracking down on cryptocurrency. A proactive step has been taken by regulators for shaping the stratospheric increase of Bitcoin. According to President Xi Jinping, there’s been booms and busts in the economy for a decade. As a result, the role of China in the cryptocurrency’s world is going down.
Is it allowed to trade Bitcoin in China?
Bitcoin can be traded only in over-the-counter markets. According to some analysts, it is a slower process that increases the credit risk.
Is China anti-cryptocurrency?
Not really. A bank named “The People’s Bank of China” has run trials of its own prototype cryptocurrency, as it is a prime step to being the very first central bank, that is going to issue digital money.
What is China doing exactly?
Well, China banned initial coin offerings (ICOs), that are equal to initial public offerings for new virtual currencies. Later, it stopped local exchanges from trading cryptocurrencies and also delineated proposals to dampen bitcoin mining. Then it moved to Chinese companies that were listed in abroad skirting to stop its domestic ban on ICOs. Now it’s intended by the officials to block the domestic access to mobile apps and other online platforms that offer such services for cryptocurrencies.
Companies that promote themselves as blockchains, to boost their shares are also being targeted by domestic stock exchanges. It’s a part of an effort by agencies like China’s Ministry of Industry and Information Technology, central bank and the cyberspace administration.
What is the reason behind the crackdown in China?
Cleaning risks from financial markets have been government’s statement for almost two years, but there’s been no clear explanation yet. The thriving shadow banking sector is also among the main concerns of the government, although digital currencies also provide a way to move money out of China.
Where else are officials clamping down?
South Korean is known as the home of most of the frantic cryptocurrency trading. Some banks are being inspected because of the allegation of money laundering and the country is considering to close such cryptocurrency exchanges. Also, in the past year, the U.S. Securities and Exchange Commission started to work fast on digital token sales.
What’s the effect of China’s actions?
Because of inexpensive power and cheap labour, miners gathered to China, but now they may have to look somewhere else. Bitmain is running China’s two major Bitcoin-mining collectives and is setting up district HQs in Singapore. The #3 mining pool, also known as “BTC. Top” is also opening a facility in Canada. Wallet services and bitcoin exchanges in the country are also leaving. Also, they’re setting up over-the-counter shops in Hong Kong and in other areas of Singapore/South Korea.
What about cryptocurrency prices?
The prices appeared to shrug off the news of increased regulations in China. However, according to analysts, the growing tide of regulation has a hefty impact on digital currencies and it’s also helping in explaining the hefty losses since the starting of 2018.
Story credit: fortune.com
Image Credit: BitNews