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On Thursday, a letter was issued to parliament by Dutch finance minister, Wopke Hoekstra, to encourage a global approach to cryptocurrency regulation. The main focus of Hoekstra is on new consumer protections and to start it up, he wants to have a dialogue with credit card companies about potentially introducing stronger protections for those people who prefer to buy cryptocurrency with their credit cards.

According to Hoekstra, by the end of 2019, all local exchange platforms, plus, the cryptocurrency regulation and services would deceptively get registered with the government and should be also obeying their customers necessities. The finance minister also proposed some new regulations in the letter, that could also be helpful in protecting the ICOs (initial coin offering) contributors.

cryptocurrency regulation

Hoekstra highlighted;

“It is being investigated whether investors in ICOs can become just as good protected as investors with a normal IPO or bond issue. The current framework is not sufficient for this.”

In the past, particularly in ICOs, some issues were highlighted by the regulators, making these proposals more noteworthy. Last November, a statement was released by AFM (Authority for Financial Markets) of Netherlands, which is a Dutch version of U.S. SEC (Securities and Exchange Commission) and referred the ICO market to a dangerous-cocktail. Linked with these statements, a ban was proposed by Hoekstra that’d forbid marketing of risky financial products to random customers.

Moreover, Hoekstra also promised to work in the European Union with other countries as well and encourage collective research to discover the market’s cross-border nature. Yet, Hoekstra specified that even inside the Netherlands, more work is required for updating the laws of the country to account for cryptocurrencies and more erratic activities around it.

 

As in the letter Hoekstra wrote;

“The current supervisory framework and instruments are insufficiently tailored to cryptocurrency,”

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Cryptocurrency News: Putin’s Endorsement Gives a Boost to Ethereum

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As investors look for a safe place to store their assets, Ethereum – the second largest cryptocurrency after Bitcoin – is getting a boost, thanks to Putin’s endorsement of the currency.

The Main Story:

Ethereum continues to skyrocket after the Singapore government and the Russian president Vladimir Putin publicly showed their support to the currency. The latest Monday morning saw the currency trading at $407.10, a record rise of more than 5000% since the start of 2017, where Ethereum was trading at just $7.98.

The Russian president and Vitalik Buterin ­– founder of Ethereum – recently had a meeting during St. Petersburg International Economic Forum. According to some experts, the occurrence of this meeting suggests that Russia is willing to open its doors to using cryptocurrency in an attempt to make their economy less dependent on oil and gas.

“The digital economy isn’t a separate industry, it’s essentially the foundation for creating brand new business models,” said Putin at the forum.

The recent shift in Putin’s stance has had an immediate impact as the Russian entities such as the State Development Bank VEB, have agreed to use Ethereum.

Meanwhile, the government of Singapore has also released a report about their recent attempts of using Ethereum blockchain and creating their own digital currency.

Japan is also issuing new rules about making Ethereum a valid form of payment. Some major companies such as Microsoft and Toyota have shown their support for Ethereum too.

In conclusion, Ethereum is getting support from all across the globe and is likely to experience even more boost in the coming days. So, if you are looking for a safe digital investment option, Ethereum is the way to go.

Story Credits: vanityfair.com

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John MacAfee Bets His Manhood – Says Bitcoin to Hit $500k In 3 Years

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19 July 2017, A passionate digital currency backer says that Bitcoin is going to hit $500,000 during the next three years.

According to him, Bitcoin’s potential is not a joke, and that he is ready to take any bet to the contrary.

People were quick to respond:

One might think that McAfee is on the extreme end, but he is not the only one manifesting this much optimism for Bitcoin. Tom Lee – one of Wall Street’s biggest equity bears – also believes that Bitcoin is the new gold with a potential worth of $55,000 by 2022.

“One of the drivers is crypto-currencies are cannibalizing demand for gold GCQ7, -0.20%”, Lee wrote in a report. “Based on our model, we estimate that Bitcoin’s value per unit could be $20,000 to $55,000 by 2022 — hence, investors need to identify strategies to leverage this potential rise in crypto-currencies.”

That’s a major jump from $2530. Lee considers Bitcoin as a Gold, and the reason for this is the ever-increasing value and high demand of Bitcoin. Lee added, “Bitcoin supply will grow even slower than gold.” And, “Hence, the scarcity of Bitcoin is becoming increasingly attractive relative to Gold.” Lee also wrote, “This is a game changer, enhancing the legitimacy of the currency and likely accelerating the substitution for gold.”

Today’s value of Bitcoin is $2303.28, which reached $3018 on June 11, 2017. However, the drop is just being touted as temporary, and Bitcoin is expected to pick up the pace again in the coming days.

Story Credits: MarketWatch

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Trial Of Zuckerberg – A Watershed Moment For Facebook

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Early this year, Facebook cryptocurrency news turned really bad when Facebook started to ban all sorts of cryptocurrency advertisements. Soon Google and Twitter followed Facebook and also did the same thing. No doubt it was a disheartening step for the crypto industry, moreover it was not the way how Facebook routinely works. All these restrictions were an effort to prevent scams and protect its users from crypto based frauds, according to Facebook. On the other hand Facebook was itself not following the rules and regulations which could fulfill the ethical requirements.

founder of facebook

We all know that Facebook has a long list of power abuse, even its platform is infested with alot of suspicious industries including abusive and misleading political articles and porn  stories of all sorts. Even, Facebook has been declared an unsafe place for our younger generation according to many critics, in that scenario, Mr. Zuckerberg is in no position to dictate others about what is ethically best for its users. Recently Facebook has been involved in the interference of Russian elections and the ultimate Cambridge Analytica scandal, according to which it leaked the confidential data of its users without their permission. Due to this irresponsible behaviour, Zuckerberg had to give testimony to Congress. This was not an ordinary testimony and was comprised of a set of strict questions by various Congressmen and the answers delivered by the founder of Facebook. For your interest we have summed up this conversation in the form of following brief article.

The Social Responsibility of Facebook

First of all the recent public blunders of Facebook were brought under discussion, the Cambridge Analytica scandal and the controversy around Russian trolls’ attempts to manipulate the US domestic political discussion being on the top of the list.

In short the Facebook–Cambridge Analytica data scandal involves the collection of personally identifiable information of up to 87 million Facebook users. The Cambridge Analytica started work on it in 2014 and from that time began collecting the set of informations. Facebook helped in all that procedure and provided the data of its users to the Cambridge Analytica. The scandal played a significant role in the incitement of public discussions on ethical standards of Facebook.

Response of Zuckerberg

Mark Zuckerberg apologized for his irresponsible and non professional attitude which gave rise to the situation with Cambridge Analytica, calling it a “breach of trust.” He also assured the Congressmen to make all the necessary changes in Facebook policy to prevent similar mishaps in the future.

 

Mark Zuckerberg also admitted that it was his personal mistake that he didn’t do enough to prevent the data breach and no other person from his organization was involved in it.

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What Are Some Different Ways to Trade Bitcoin?

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Different Ways to Trade Bitcoin

Bitcoin is a computerized currency which is produced through mining. Mining is a procedure that includes understanding and solving complex algorithms using a PC. Once that complicated algorithm is decoded, then a single block can deliver around 50 bitcoins.

The time it takes to decode a single block greatly relies on the services of the miner as well as the processing power of CPU. Since the procedure of mining is long and frantic, many people want to purchase Bitcoin on the web.

Trading Bitcoin is most likely the quickest and simplest approach to make money through Bitcoin. The estimated value of the currency varies so much on the daily basis that it has become a primary investment option for traders. The currency is super exciting due to the fact that nobody knows how high or low Bitcoin can go.

Safe Approaches to Trade Bitcoin:

Here we are going to demonstrate the safest approaches to trade bitcoins. Read carefully best Bitcoin trading platform.

There are many ways to make money through Bitcoin trading. Much the same as stock markets, Bitcoin trading includes purchasing coins at low cost and selling them when the cost has gone up. To begin trading, you have to set up an online account with a consistent trading site and then store your assets into that account. When your account has been effectively verified, you will then need to closely observe the trading market for a chance to make a profit through purchasing and selling bitcoins.

Depending on the amount, the Bitcoin exchanges will charge you a specific rate for each transaction. You will also have the option to convert your local money into Bitcoin and vice versa. In any case, you should remember that Bitcoin is highly unstable. If you are not well-informed with the price trends, you may end up losing a considerable amount of cash.

A usual Bitcoin trading procedure includes four easy steps. The steps are:

  • Making an exchange account and filling it up with currency. The currency will be later used to make your first Bitcoin purchase.
  • Creating multiple accounts with the different exchange as it will help you eliminate the risk of theft in the event your primary account crashes.
  • Choosing an exchanging methodology: There are a few different methods to exchange bitcoins such as informal investment, swipe trading or becoming an investor that sits tight and hold on until the market stabilizes. Make sure you go with the option that suits you best.
  • Once you have done it all, wait until the market offers the right opportunity to make money.

These are some ways that can help you keep your bitcoins from theft and make secure trades. Good luck with your venture.

Tags: Bitcoin trading sites

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Not sure How to buy Cryptocurrencies?

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Recently, there were reports of banks restricting credit card acquisitions of cryptocurrencies, however, there are still many options available which can be used for buying cryptocurrencies. There’s always a risk in investment and trading move, so, always do your own little research when making a decision.

Coinbase is a well-known interface where you can easily buy crypto with fiat money. Users only have to create an account and verify their identity on Coinbase, then they can easily buy whatever they want with their debit card.

Another sister company of Coinbase is GDAX, which gives users an idea of how these cryptocurrency exchanges are actually working. It describes an instinctive interface with trade history, charting tools and real-time order books. All of these tools ensure traders that they’re getting the most out of their trade.

how to buy cryptocurrencies

Another popular exchange is Bitfinex. Its website claims that it’s the most progressive cryptocurrency trading platform in the world and has many advanced charting tools. Its website has an app, which is available for both iPhone and Android users. It offers three features:

  • Exchange trading
  • Margin trading
  • Margin funding

You can easily find places to buy cryptocurrency with fiat money, however, Robinhood is unique in its zero-fee approach. Their main goal is to provide an easier platform for people to buy cryptocurrency. This trading app lets users buy cryptocurrencies like Bitcoin and Ethereum right from their phone without any trading fee.

Can you buy all cryptocurrencies with fiat money?

At this time, cryptocurrencies that have fiat/crypto-pairs are:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Litecoin
  • Ripple

Coinbase offers following cryptocurrencies which users can buy with fiat debit cards:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Bitcoin Cash

Users will have to send their BCH, BTC, ETH, or LTC to an exchange to get involved with other altcoins.

How to buy Bitcoin without involving exchanges?

Nowadays, Bitcoin ATMs are becoming very popular. There are almost 2,393 Bitcoin ATM machines worldwide, and with these machines, users can buy Bitcoin by using fiat currency and can even sell Bitcoin to withdraw fiat money. These devices help traders by not having them to deal with the trading part of crypto and are very much convenient.

Recently, Cointelegraph has partnered up with Simplex and now it offers a convenient way of buying Bitcoin, Ethereum, and Bitcoin Cash. Simplex accepts most credit cards and some debit/prepaid cards as well.

How to buy crypto with Cash?

It’s quite simple to buy Bitcoin with cash. If you know anyone who wants to sell BTC, there are decentralized, p2p sites where you can meet people who are interested in buying Bitcoin. LocalBitcoins is currently working worldwide as an advertising community board and helping its users to agree on a price and so that later, they can meet in person to trade. The exchange process is time-consuming and it’s not much reliable, as it involves strangers. But it’s still very popular and its users have great reviews about it.

Decentralized Exchanges

DEX isn’t very popular but it’s a trust-less AI system that connects traders online. The money goes from the user’s wallet to an escrow in a centralized exchange, and then to the other user in the trade. Funds that are kept in centralized exchanges are stored in wallets, which are owned by the company. User funds are stored in hardware wallets in a DEX, on each user’s computer. This smart contract helps in keeping trust between the users, who are trading the money. Altcoin.io is also working really hard to make a simple interface to exchange crypto quickly and the team became famous back in October after it successfully completed the first-ever BTC-ETH atomic swap.

It’s quite easy to buy cryptocurrencies now, and we’ll probably see some massive improvements this year, for both centralized and decentralized exchanges. The main focus of centralized exchanges will be; usability, scaling and adding new tokens, while decentralized exchanges will focus on getting their product out, involving the present crypto community.

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