Bitcoin Cash ABC (Futures) BCHABC news

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120.05 USD / 0.03050000
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Binance Expands Its Stablecoin Market with New Pairs for LTC, TRX, BCHSV and BCHABC

Earlier today, the popular cryptocurrency exchange of Binance announced that it will be adding additional trading pairs for Litecoin (LTC) and Tron (TRX). The new trading pairs will be in Binance’s Stablecoin Market and will be as follows: LTC/TUSD LTC/PAX LTC/USDC TRX/PAX TRX/USDC Trading of the new stablecoin pairs with LTC and TRX will begin tomorrow, the 24th of January, at 10am UTC. BCHABC and BCHSV Stablecoin Pairs This move to add more stablecoin pairs for LTC and TRX comes only two days after the exchange opened trading for additional pairs of Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC). The trading pairs went live on the 22nd of January. They are as follows: BCHABC/TUSD BCHABC/PAX BCHABC/USDC BCHSV/TUSD BCHSV/PAX BCHSV/USDC To note, is that the exchange chose not to rename the coins that were as a result of the Bitcoin Cash hard fork of November last year. Chanpeng Zhao explained on twitter that the names will stay as is. The tickers would not be adjusted once the dust had settled from the Hash Wars. One thing about the fork, these symbol names will stay. Binance will not support changing of trading symbols later. If anyone asks for it later, let’s refer them back to this tweet. CZ’s tweet can be found below. One thing about the fork, these symbol names will stay. Binance will not support changing of trading symbols later. If anyone asks for it later, let's refer them back to this tweet. https://t.co/j1h3gb4edQ — CZ Binance (@cz_binance) November 16, 2018 WAVES and LINK Stablecoin Pairs In the last few days, Binance has also added stablecoin pairs for Waves (WAVES) and Chainlink (LINK) as follows: WAVES/USDT, WAVES/TUSD, WAVES/PAX and WAVES/USDC LINK/USDT, LINK/TUSD, LINK/PAX and LINK/USDC About Binance’s Stablecoin Market (USDⓈ) The exchange renamed its Tether (USDT) market to a Combined Stablecoin Market (USDⓈ) late November last year. The new market included prominent cryptocurrencies paired with the other stablecoins of Paxos Standard (PAX), True USD (TUSD) and USD Coin (USDC) as well as USDT. The move was aimed at supporting more trading pairs with different stablecoins as a base. What are your thoughts on Binance expanding its stablecoin market to include more pairs for Tron (TRX), Litecoin (LTC) and Bitcoin Cash ABC (BCHABC)? Please let us know in the comment section below.  Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post Binance Expands Its Stablecoin Market with New Pairs for LTC, TRX, BCHSV and BCHABC appeared first on Ethereum World News.
Ethereum World News

Binance Announces New Addition of a Few BCHABC and BCHSV Bitcoin Cash Fork Trading Pairs

One of the biggest exchanges in the crypto ecosystem, Binance, has recently announced that they will be adding more trading pairs to the existing trading pair list. #Binance Will Add Additional Trading Pairs for BCHABC and BCHSVhttps://t.co/68aHoHa3l9 pic.twitter.com/3Jh1GwKP6f — Binance (@binance) January 21, 2019 Starting at 2019/01/22 10:00 AM (UTC), Binance will open trading for BCHABC/TUSD, BCHABC/PAX, BCHABC/USDC, BCHSV/TUSD, BCHSV/PAX and BCHSV/USDC trading pairs. Earlier one could only trade using BTC and the stablecoin Tether (USDT). As usual, the announcement attracted criticisms from the users who are still angry about the hardfork which is said to have worsened the crypto winter. A user said “How about delisting instead?” To which another realized, “Exactly, please delist it, all bitcoin fork is a scam.” Even though, many were not too excited about the listing some did seem a bit happy, especially with having an option of additional stable coins. Both BCHABC and BCHSV have been the center of controversies. However, many traders are using these controversies, which has led to increased volatility when compared to other coins, for their profits. It is only those traders that will be excited by this announcement. Bitcoin SV, which has fallen behind even TRON with a market cap of $1.3 Billion, sees very less trading. The daily trading for SV is a meager $50 million. BCHABC is still doing a bit better with a daily trading volume of over $200 million and is ranked 4th when it comes to market cap.
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Bitcoin Q&A: Checkpointing in the BCHABC chain

What do you think about the use of checkpointing in BCHABC? What kinds of checkpointing are there? Has Bitcoin ever had a re-organization event? NOTE: The chain reorganization event in Bitcoin that I mentioned at 3:03 was actually in March 2013. You can read the post-mortem (BIP-50) here: https://github.com/bitcoin/bips/blob/master/bip-0050.mediawiki More about checkpoints: https://bitcoin.stackexchange.com/questions/1797/what-are-checkpoints/1798 https://bitcoin.stackexchange.com/questions/70718/how-does-bitcoin-implement-checkpoint-mechanism-to-finalize-the-blockchain-histo https://bitcoin.stackexchange.com/questions/75733/why-does-bitcoin-no-longer-have-checkpoints https://en.bitcoin.it/wiki/Chain_Reorganization This question is from the December monthly subscriber session, which took place on December 15th 2018. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop RELATED: BCHABC vs. BCHSV hard forks - https://youtu.be/q93sK1CxKNM Consensus Algorithms, Blockchain Technology, and Bitcoin - https://youtu.be/fw3WkySh_Ho Advanced Bitcoin Scripting Part 1: Transactions and Multisig - https://youtu.be/8FeAXjkmDcQ Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware - https://youtu.be/pQbeBduVQ4I What is Consensus: Rules without Rulers - https://youtu.be/2tqo7PX5Pyc Forkology: A Study of Forks for Newbies - https://youtu.be/rpeceXY1QBM Bitcoin: Where the Laws of Mathematics Prevail - https://youtu.be/HaJ1hvon0E0 The mining process - https://youtu.be/L4Xtau0YMJw Genesis block and coinbase transactions - https://youtu.be/strhfzJ56QE What will Bitcoin Core 1.0 look like? - https://youtu.be/Kh5ASYzt3dU The rules of Bitcoin (part 1) - https://youtu.be/VnQu4uylfOs The rules of Bitcoin (part 2) - https://youtu.be/vtIp0GP4w1E What was SegWit2x? - https://youtu.be/4Sy42Y5oqGo Decentralized power, leaderless governance - https://youtu.be/E5VbDlQTPzU Scaling, trust, and trade-offs - https://youtu.be/vCxmHwqyJWU Why running a node is important - https://youtu.be/oX0Yrv-6jVs Honest nodes and consensus - https://youtu.be/KAhY2ymI-tg Do "crypto-banks" threaten hard money? - https://youtu.be/Ps78g2_3_6o Running nodes and payment channels - https://youtu.be/ndcfBfE_yoY What happens during a fork? - https://youtu.be/XBk8hBJ1xVo Empty blocks, orphan blocks, and valid chains - https://youtu.be/dizF2S63RXY SegWit adoption - https://youtu.be/KCsTVTRk6I4 How do mnemonic seeds work? - https://youtu.be/wWCIQFNf_8g Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin. Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/ He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos! MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9 Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/ THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ Translations of THE INTERNET OF MONEY: Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390 Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Aantonop

Bitcoin Cash $BCHABC Price Outlook: Christmas Rally

December 19 2018 18:20 UTC   Bitcoin Cash has gained 33.29% or 34.23 USDT in twenty-four hours. In this Midweek Edition find $BCHABC price action, trend, technicals and more. Or jump right to the Bitcoin Cash $BCHABC Price Outlook.   Price Action The price of $BCHABC has risen over twenty-four hours. The last price at press time is 137.05 USDT. In Binance moderate to heavy volume trading the daily change is 33.29%, or 34.23 USDT: $BCHABC Price Change period % USDT 24 hours 33.29 34.23 7 days 41.30 40.06 1 month -40.78 -94.36 Trend The Bitcoin Cash three day trend is up. It was just a short week ago when Bitcoin Cash was on a multi quarter bearish downtrend from its last rally high in early May 2018. The last rally saw $BCHABC cap out at $1,726.54. Bitcoin Cash reached a low of $74.02 on December 14 2018. It is arising from this multi quarter low – on a Christmas bull rally – that $BCHABC registers the phenomenal twenty-four hour change of 33.29% we see today. [Trend is "up" when the three day price movement is predominantly upwards.] Real Time Market Depth The real time market depth is slightly bearish.   [The real time market depth is a fractional representation of the order book, used to assist in determining market direction.] Chart Tap / click to zoom: bchabc-usdt-six-hour-chart-2018-12-19   Remarks The long awaited Christmas rally is underway.   Technicals Moving Average Convergence Divergence (MACD) The MACD on the one day chart is strongly bullish. All of the chart hourly periods from one hour to one day register strongly bullish states. [MACD is a trend-following momentum indicator]   Exponential Moving Averages (EMA) period average 7 day 111.27 25 day 96.81 99 day 133.17 On the six hour chart we see the bullish cross at four in the morning today as the short term EMA(7) moves above the medium term EMA(25). The angle of ascent is poised to cross the long term EMA(99). This is a bullish state. [EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]   Relative Strength Index (RSI) The Relative Strength Index on the four hour chart is 86.7. This is an overbought state. On the one day chart the RSI is 55.6 which is a neutral state. The six hour chart is also overbought and we are seeing more than a $5 price pullback as this report is written. [RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]   Bitcoin Price Modifier The 24 hour Bitcoin $BTC change is 7.42%. This may exert a bullish influence on Bitcoin Cash today. [The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]   Bitcoin Cash $BCHABC Price Outlook the Bitcoin Cash $BCHABC price outlook is bullish if the price finds acceptance at higher levels the immediate resistance prints at $145.00 if the price finds acceptance at lower levels the immediate support prints at $109.75 Resistance levels: $145.00 $173 $225 Support levels: $109.75 $79 $74.02   Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis period.   Disclaimer http://kittybitcoin.com/docs/disclaimer.php Disclosure The author does not hold Bitcoin Cash $BCHABC at the time of writing. About @KittyBitcoin @KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website. Reprint Prohibited Reprinting without written permission is expressly prohibited, theft of intellectual property, and copyright violation. Copyright KittyBitcoin media is licensed not sold. Copyright©KittyBitcoin.com 2018. All rights reserved. Thanks for reading
AllCoinsNews

GMO Coin Cryptocurrency Exchange Resumes Bitcoin Cash ABC (BCHABC) Trading  

GMO Coin, the digital assets trading venue owned by Japan’s GMO Internet, Inc. has reportedly made it clear that bitcoin cash ABC is its preferred choice among the two versions of the November 15, 2018, hard fork. BCHABC trading was expected to resume on December 4, 2018, according to a Finance Magnates report on December 3, 2018. GMO Coin Resumes...Read More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
BTC Manager

Japan’s GMO Coin Exchange Ditches Bitcoin SV (BSV), Vows To Resume Trading With Rival BCHABC

Japanese GMO Coin Ditches Bitcoin SV, Vows To Resume Trading With Rival BCHABC GMO Coin, a crypto exchange platform owned by one Japan’s biggest firms, says it would lend its support to Bitcoin Cash ABC by trading it instead of the Bitcoin SV –the hard fork that was the result of the Bitcoin Cash split. The news arrives on the heels of the battle for dominance between both tokens. The company, in a chat with the media, said once it resumes trading on Tuesday, December 4, it would start trading in the BCH ABC coin. GMO initially temporarily stopped trading with Bitcoin Cash following the hard fork on November 15, a situation that caused serious trading disruption. However, now that the coast seems clear, the firm has made a reached a conclusion about its inclusion on their exchange on Monday evening, saying it will consider trading in the Jihan-backed digital asset as soon as it resumes activities on the crypto market. “In our company, the one shown as BCH indicates a Bitcoin Cash called BCHABC,” a spokesperson for GMO Coin said. While the winner of the current “civil war” between both crypto projects is yet to be seen, expert analysis has shown that Bitcoin Cash ABC is on the winning side. The brains behind Bitcoin Cash had wanted to stick to the Bitcoin Core proposed by the platform’s creators. However, that idea did not go well with the developers behind Bitcoin Cash, thus settling for the coin split. Since the split, each side of the divide has been claiming to be more dominant than the other, leading to claims and counterclaims from both ends as to which is dominant or more powerful. A hash war that followed the split caused a serious dilemma between users of the Bitcoin Cash token, leaving them with the confusing choice of which to go for between the two. No doubt, traders know that the coin which attracts the most miners would gain more investors, with CoinGeek owned by Ayre, giving huge support to Bitcoin Satoshi Vision while Bitcoin ABC gains its backing through Bitmain and Bitcoin.com. There is concern about which of the two gets to answer by the name ‘Bitcoin Cash’ on the exchange, with opinions dividing along interest line. The split between the two coins happened mid-November and saw Coingeek mining pool owner, Canadian billionaire and die-hard Bitcoin Cash ABC proponent suggesting that both be named differently –Bitcoin Cash ABC and Bitcoin SV. While some exchanges have agreed to the suggestion, others haven’t, going with their own preferred names instead. Ayre insisted that it was no more comfortable for financiers of the ‘losing’ BCH SV to retain the name ‘Bitcoin Cash. Meanwhile, GMO Coin’s reason for choosing Bitcoin Cash ABC isn’t clear. Although, some reports are claiming it may not be unconnected with the coin’s relative progress in the wake of the Q4 of the year. In any case, GMO Coin will make profit trading the coin because the two currencies can be mined with the same ASIC mining tools.
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Bitcoin Cash ABC (Futures) (BCHABC) news by Finrazor

HIGHLIGHT

Binance Launches Testnet of Decentralized Exchange

The world’s largest cryptocurrency exchange, Binance announced the launch of Binance DEX testnet. Binance DEX is said to be secure and scalable – with a block interval of one second. User account registration is now open. Testnet went live on Wednesday morning, 20 February 2019

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DIGEST

If you think that the passion after the ВСH fork has evaporated — you are greatly mistaken, because now we are dealing with consequences. Reddit community is actively talking about the benefits/harms of the fork, so you have two options: watching or becoming an active commentator

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DIGEST

This week twitter-community is waiting for the BCH fork, reading Vitalik Buterin and expressing opinions... — nothing uncommon, but quite lively

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Crypto Exchanges Under Fire: DragonEx Hacked, Coinbene Undergoes Sudden Maintenance

Singapore Exchange Loses A Mass Of Crypto Exchanges haven’t had the best start to 2019. Sure, Binance has been doing A-OK with its initial exchange offering (IEO) model, with its resident token rallying past $17, but lesser-known crypto platforms have been suffering. Earlier this year, QuadrigaCX was revealed to have ‘lost’ access to over $150 million worth of Bitcoin, Ethereum, and other assets, as Cryptopia suffered a devastating hack. This facet of the industry’s misfortune has continued, unfortunately enough. According to CoinDesk, DragonEx, a Singapore-based exchange, was hacked. The company announced this unfortunate happening via its Telegram channel, in which DragonEx’s PR staff claimed that funds of users and the platform itself were “transferred and stolen.” DragonEx has yet to divulge the exact details of the crypto assets stolen, including the type and the nominal value. However, the company did post the addresses of the assumed hackers, of which there were about 20 pertaining to a series of assets (Bitcoin, XEM, EOS, XRP, ETC, etc.). From a brief look, a minimum of 135 BTC, 500 Ether, and 4,670 LTC were forcibly yanked from the exchange’s coffers. This, for those who are wondering, racks up to ~$800,000. The full amount hacked, however, could easily be much higher than this sum. DragonEx has purportedly informed a number of local authorities, including those in Estonia, Thailand, Singapore, and Hong Kong, to the attack. Elaborating, the crypto startup wrote: “We’re assisting policemen to do investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week. It was added that the firm will “take the responsibility no matter what.” Coinbene Under Seige? This comes as Coinbene suddenly revealed it would be undergoing maintenance. A tweet from the company claims that it “upgraded the platform wallet… operations such as deposit and withdraw will be affected.” While this is a normal announcement for exchanges across the board, Coinbene’s session came straight out of left field, leading to ramping speculation. Nick Schteringard posted the below message in a bid to draw suspicion to the exchange’s Ethereum wallets, which sent out a mass of ERC-20 tokens yesterday. Some strange activity spotted on #Coinbene. Users report that #ETH wallets were hacked and attach these two addresses. https://t.co/f5NxvfscSC https://t.co/S1WnwI8CUx #bitcoin #exchange— Nick Schteringard (@schteringard) March 26, 2019 Coinbene’s ongoing imbroglio comes after Bitwise Asset Management, an American crypto-centric investment services provider, targeted the exchange in its scathing report on fake Bitcoin trading activity. As reported by Ethereum World News previously, Bitwise drew attention to “suspicious exchanges” such as the little-known CoinBene to back its report. CoinBene purportedly utilizes “trade printing” between the bid and ask prices, hinting that there could be an automated system behind much of the trades. Thus, some have concluded that this sudden period of maintenance could be the platform’s bid to rectify bots and other bad actors. Photo by Markus Spiske on Unsplash The post Crypto Exchanges Under Fire: DragonEx Hacked, Coinbene Undergoes Sudden Maintenance appeared first on Ethereum World News.
Ethereum World News

Japanese E-Commerce Giant, Rakuten, Gets Nod of Approval by FSA to Launch Crypto Exchange

Rakuten, the e-commerce giant and Japan's Amazon has completed the registration of its cryptocurrency exchange Rakuten Wallet that will be going live next month, as per the press release of the company on March 25. The official announcement reads: “We are pleased to announce that our registration with the Kanto Finance Bureau has been completed […]
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$3.4M Huobi Prime Sale Shows Investor Enthusiasm Remains High

Huobi Prime successfully completed its first initial exchange offering (IEO) on Huobi Prime this afternoon. The sale concluded in a matter of seconds, and raised $3.4M – proving that investor enthusiasm for the new token sale format isn’t confined to Binance Launchpad. TOP Network, a blockchain-based messaging service, was the first project featured on the new platform. More than 1.5bn TOP tokens were sold, around 7.5% of the total supply. The token was made available for trading almost immediately, and at the time of writing was exchanging hands at a multiple of around four times the asking price. The sale comprised three funding rounds, each offering larger quantities at a slightly higher asking price than the last. Although each round was set to last 30 minutes, each round was heavily oversubscribed and finished within seconds of opening. The first round completed within seven seconds. Huobi only announced its new Prime feature last week, as Crypto Briefing reported. Unlike the first few sales on Binance Launchpad, which were open to the general public, Huobi requires eligible participants to hold 500 Huobi Tokens (HT) – used to purchase tokens – at least 30 days prior to the sale. As Ross Zhang, Huobi’s head of marketing said at the time, this was to ensure the exchange gave equal opportunities to investors who were “involved and invested in our ecosystem”. Binance announced Sunday that Launchpad sales would now feature a new lottery-based format to its token sales. Better Protections For Investors… Unless Conflicts Arise? What makes IEOs interesting is that they tweak the token sale model. Instead of direct transactions between investors and projects, the exchange itself forms the counter-party. Participants must register and create an account on the platform, and this requires them to first pass KYC/AML checks. It’s also within the best interests of exchanges to ensure sales are full compliance. It’s their necks on the line and this means they are likely to carefully vet projects first. As Huobi said in its initial announcement, tokens must first pass a “[r]igorous screening and selection processes to ensure only premium projects that have yet to be listed on any major exchange are included.” Binance upgraded its own KYC/AML procedures today. Other exchanges are also looking at the IEO model, and despite a failure to launch with their first effort, Bittrex is seeking to offer VeriBlock as its next attempt. The VeriBlock project, which counts Bittrex CEO Bill Shihara as an advisor, would be valued at over $200M if the sale is completed successfully. Bittrex includes a disclaimer on its website explaining that as a result of Shihara’s dual role, “Bittrex holds a customary minority equity position in an affiliate of the sponsor of the VBK Coin Initial Exchange Offering, and will indirectly benefit from the successful completion of the Initial Exchange Offering.” Whether this discourages investors remains to be seen. Few would have thought three months ago that sales such as BitTorrent (BTT), Celer Network (CELR) and now TOP Network would have been possible. KuCoin’s Spotlight platform will be hosting its first token sale next week. Is an IEO season upon us? The author is invested in digital assets, but none mentioned in this article. Join the conversation on Telegram and Twitter! The post $3.4M Huobi Prime Sale Shows Investor Enthusiasm Remains High appeared first on Crypto Briefing.
CryptoBriefing

Why the New ‘Apple Card’ Credit Card Doesn’t Compete With Bitcoin

The Apple credit card launches this summer. Here’s why it nothing like Bitcoin and is more underwhelming than a utility token with no use-case. Apple Announces Credit Card Apple has long been revered as the world’s most innovative company. There’s no denying that the smartphone changed the way billions of people around the world live their lives forever. But it’s time for the trailblazing tech company to wake up and smell the roses. While Apple was releasing one carbon-copy product after another at higher and higher prices, the competition was busy doing the opposite. Now the high-end, high-priced tech manufacturer is scrambling to hold its own in a rapidly evolving market. And with the launch of its underwhelming Apple Card, there’s something sad about the stench of its desperation. Apple Card vs Samsung’s Built-In Bitcoin Wallet Apple’s largest competitor apart from the slew of cheaper Chinese products is undoubtedly Samsung. The South Korean giant hasn’t had an easy ride either with equally pricey products getting undercut left and right. But as one large company embraces the future, its flagship Galaxy S10 coming with a built-in Bitcoin wallet, Apple’s response is disappointing, to say the least. Rather than acknowledge the cryptocurrency revolution, and appeal to a younger market, the smartphone manufacturer aims to ‘disrupt’ the credit card industry. Isn’t that the wrong pool to be swimming in? The revolution won’t come in the form of borderless transactions since it’s only available in the United States. It also won’t be peer-to-peer, eliminate centralized institutions, or greatly reduce fees. Although its interest rates will be: Among the lowest in the industry Mind. Blown. Apple’s game plan is more about additional security of payments, no annual or foreign transaction fees, and the fact that (wait for it) its partner Goldman Sachs will never sell your data for marketing. You can even buy yourself a coffee on the Goldman Sachs blockchain. You just have to trust Apple and Goldman Sachs to do so. It’s a Custodial Hardware Hot Wallet The Apple Card will come built into the iPhone’s Wallet App, which effectively makes it a custodial hardware hot wallet for USD. Apple claims they will never track your transactions, and all the information will be held on your device. Users can request a laser-etched titanium card, should they be so inclined, although, there seems to be little point in that. In fact, why even offer a traditional card for a wallet the company wants you to get rid of in the first place? If you’ve failed to be bowled over by so much innovation so far, there’s more. Users can track their spending on their phone through a user-friendly app. You Have to Trust Goldman Sachs In the wake of major gaffes by tech companies like Facebook and Google, Apple is pushing its next-generation security and privacy features. The centralized entity will not track your transactions and Goldman Sachs (the other centralized entity) has agreed not to sell user data. Explosive stuff compared to a decentralized alternative financial system which requires no intermediaries at all. Increased adoption of Apple Pay? Perhaps. A revolution in finance? It’s just as well Cook wasn’t speaking at a Bitcoin conference, the audience would have walked out in droves. Steve Jobs Would Have Had Bitcoin in iOS by Now Apple Card seems like a desperate bid to push Apply Pay onto the people rather than let them to choose how they manage their finances. CEO Tim Cook enthused that the card was: The most significant change in the credit card experience in 50 years. Exactly where has he been lately? Steve Jobs would have Bitcoin integrated into iOS by now.  The aim of the game is presumably to bump up the adoption of Apple Pay in partnership with market leaders MasterCard and Goldman Sachs. Two giant financial institutions that will hardly feel the pinch from Apple Pay and its meager card. There are no real tangible benefits for users of the card beyond a few outstandingly mundane offers. For example, paying for Apple products with your built-in Apple Card gets you a whopping 1-3% cash back on purchases. So what is Apple thinking entering an already saturated market that swathes of people are trying to overthrow? Once on the cutting-edge of innovation, Apple now seems to be extremely myopic when it comes to the future. What do you this of this new credit card? Will it undermine payment-focused cryptocurrencies with low fees? Share your thoughts below! Images via Shutterstock The post Why the New ‘Apple Card’ Credit Card Doesn’t Compete With Bitcoin appeared first on Bitcoinist.com.
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