Ethereum ClassicEthereum Classic ETC news

Ethereum's fork, backed by that part of comunity who declined to reverse transactions after DAO attack
Price, 24h
4.73 USD / 0.00118000
4.89% / 3.89%
Volume, 24h
110,250,314 USD
-9.59%
Marketcap
505,465,768 / 0.37%
Emission
52%
Chart price/vol/NIS 7d
Asset details

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What Is Ethereum Classic (ETC)? | A Guide to the Original Ethereum Blockchain

What Is Ethereum Classic? Ethereum Classic is the original Ethereum blockchain and allows for the implementation of decentralized applications and smart contracts. The project was born out of an unwavering belief in core principles. It symbolizes the importance of a cryptocurrency being fungible and its blockchain immutable.   The Ethereum and Ethereum Classic blockchains were identical all the way up to block 1920000. But then the infamous DAO changed a blockchain and cryptocurrency forever. In this guide, we’ll cover what you need to know including: The Hard Fork How Does Ethereum Classic Work? History Ethereum Classic Team Coin Supply and Sustainability Future Projects and Roadmap Competition Trading History Where to Buy ETC Where to Store ETC Final Thoughts Additional Resources The Hard Fork A smart contract, known as the DAO (Decentralized Autonomous Organization), was created on the Ethereum platform. The DAO was essentially a venture capital fund where investors would vote on how to allocate capital. The fund was so popular that it attracted roughly 14 percent of all Ether in existence at the time, raising 150 million dollars. The advantage and disadvantage of a smart contract is its autonomous execution. In this case, the smart contract had a design flaw that allowed someone to steal over 3.6 million Ether from The DAO. Vitalik Buterin, creator of Ethereum, and the majority of the community wanted to perform a hard fork that would roll the blockchain back to block 1920000, before the hack, so that funds could be returned. You can read more about the controversy and the decision to hard fork Ethereum here.  After the hard fork to return people’s funds, the original Ethereum blockchain remained and is now known as Ethereum Classic or ETC. The community that continued to mine and support the original blockchain believe there should be no outside influence on what was supposed to be an immutable blockchain. Ethereum Classic has since blazed its own trail in the cryptocurrency world. In the long run, the Ethereum Classic community hopes there is value in taking the principled approach that code is law. How Does Ethereum Classic Work? The foremost thing to know about Ethereum Classic is smart contracts. Nick Szabo invented smart contracts in 1994. However, at the time, there was no decentralized platform that could securely store the smart contracts. The blockchain provided the perfect platform. Smart contracts are built on top of the Ethereum Classic blockchain and automatically enforce the rules of an agreement. Smart contracts could one day eliminate countless intermediary services in banking, file storage, insurance, identity and reputation services, etc. Ethereum Classic’s Turing-complete Sputnik Virtual Machine executes the smart contracts. A Turing complete machine can simulate a Turing Machine. The hypothetical machine by Alan Turing is the manipulation of a string of 1’s and 0’s to simulate any computer algorithm. It’s never been proven that a computer can actually do more than a Turing machine and thus the Sputnik Virtual Machine can run any computer program coded onto it. The idea of Ethereum Classic is to not simply decentralize currency, but make a decentralized world computer. ETC nodes have an incentive to run the virtual machine financially. The nodes receive ETC fees for processing the transactions related to the contracts. The smart contracts are able to pay out to people in Ether classic. Emerald Software Developer Kit (SDK) Development unique to Ethereum Classic produced the Emerald Software Developer Kit, a toolkit to build dapps. The SDK contains other components for developers such as UI, libraries, and build tools. As Ethereum Classic is a platform, the ultimate goal is for as many developers as possible to be building on top of the blockchain. ETC aims to focus on the internet of things, often referred to as IoT. In an interview, ETC developer Igor Artamonov said, “Smart contracts on [the] blockchain are ideally suited for simple agreements between machines operating on [a] distributed network, a machine-to-machine protocol, and IoT is [the] most obvious application to this.” Geth Geth, using the Go programming language, provides a “multipurpose command line tool that runs a full Ethereum Classic node.” Geth contains over 40 percent new code since the hard fork from Ethereum, demonstrating active development by the ETC team. The program allows you to mine ETC, transfer funds between wallets, create smart contracts and manage accounts. History Ethereum Classic continued the original blockchain and split from Ethereum in July 2016. It was predicted that the original chain would simply disappear after the fork but mining and trading continued. Eventually, Poloniex listed ETC and the price reached one-third of ETH’s. After bitter attacks in the various Ethereum subreddits, ETC made a “Declaration of Independence” stating, “we believe in a decentralized, censorship-resistant, permission-less blockchain. We believe in the original vision of Ethereum as a world computer that cannot be shut down, running irreversible smart contracts.” From their Declaration of Independence’s core principles: “Code is law; there shall be no changes to the Ethereum Classic code that violate the properties of immutability, fungibility, or sanctity of the ledger; transactions or ledger history cannot for any reason be reversed or modified.” Clearly, these principles did not align with Ethereum and thus ETC no longer associates with the Ethereum Foundation. Eventually, the thief dumped the ETC from the DAO hack onto the market, but surprisingly, the ETC price remained fairly stable. After all of the chaos, Ethereum Classic was eventually able to assemble a development team and set out on its own path. Ethereum Classic Team Originally, the Ethereum Classic team, ETCDEV, intentionally held a lower profile. The lack of high profile leader is in line with their core philosophy of ETC being decentralized and free from powerful human influence. However, this team is no longer active. Now, Ethereum Classic development is lead by ETC Labs and the IOHK Grothendieck team. Previous ETCDEV Leadership Team Coin Supply and Sustainability ETC diverges greatly from ETH when it comes to mining and coin supply. Ethereum has a built-in difficulty bomb that makes mining with proof of work harder over time. This will eventually force all miners to switch to proof of stake. ETC is pausing this difficulty bomb and intends to stick with proof of work. On average there are 10-14 second block times with a reward of five ETC per block. As the block times are so short, transaction fees are relatively low, with an average fee of about one cent. Ethereum Classic is inflationary through block rewards until the year 2025 at which point the coin supply will be capped at 210 million coins. Ethereum has no cap and plans to remain inflationary for the time being. ETC believes this monetary policy makes Classic a safer investment as the value of the coins will not decrease over time due to a neverending increase in supply. Future Projects and Roadmap In 2018, the development team released the Emerald Desktop Wallet, the first ETC trustless wallet. They’ve also removed the difficulty time bomb we mentioned earlier and started work on implementing side chains for scalability.  Over the next two years, the Ethereum Classic team is working to improve compatibility with the Ethereum chain, improve the Sputnik Virtual Machine, and implement side chains with Proof of Authority (PoA). Ethereum Classic Roadmap (2019-2020) Competition There is no doubt that ETC runs up against some fierce competition. There is not only the obvious competitor of Ethereum but also any other smart contract provider. NEO, in particular, has made a name for itself in the smart contract space. However, the ETC “community remains less focused on other technologies coming in direct competition… and more on partnerships and complementary solutions.” It’s worth noting that when you compare the platform to some other smart contract providers, ETC certainly excels in its level of decentralization. Trading History ETC consistently ranks in the top 20 for the overall market cap. After a developer conference in Hong Kong, the price spiked up to 20 dollars. The coin then saw a spike to over 30 dollars after the first phase of a new monetary policy to remove inflation.  ETC reached an all-time USD high at the height of the 2017/early-2018 bull market, topping $45.50 (~0.00316 BTC). Since then, the price has continued to drop. It currently hovers around $4.50 (~0.00115 BTC).  baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; var cccTheme = {"General":{"showExport":true}}; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=ETC&tsyms=EUR,CNY,GBP,USD'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); While the majority of development and interest lies with the hard fork Ethereum, it will be interesting to see the effects of centralization and inflation on the coin over the long haul. Where to Buy ETC You can trade for ETC with BTC and ETH on Binance and Bittrex. You can also purchase ETC directly with USD on Coinbase, the easiest-to-use option. Outside of purchasing ETC, you can also mine. The project provides an extensive list of mining pools on their website. Where to Store ETC You have plenty of storage options for your ETC tokens. Ideally, you should use the Ethereum Classic-provided Emerald wallet. If that’s not to your liking, there are tons of additional options that the ETC team recommends. For a mobile wallet, Jaxx supports ETC. However, for maximum security, you can use the Ledger Nano S hardware wallet or the Trezor.  Final Thoughts With ETC, you know you are investing in a commitment to an immutable blockchain. Their team hopes, in the long run, there is value in sticking to your principles. With ETH, there is the precedent that they could hard fork again based on human influence. It is important to remember cryptocurrencies arose out of the ashes of the banking collapse. Satoshi Nakamoto originally designed decentralized blockchains to answer corruption in the financial sector. “The immutable blockchain was meant to be free from the human tendency to corrupt.” Cryptocurrency thefts have happened before and will happen again. Where do we draw the line of what requires a hard fork? ETH blurred this line while ETC has clearly drawn their land in the sand. Editor’s Note: This article was updated by Steven Buchko on 2.20.19 to reflect the recent changes of the project. Additional Resources Twitter Github Reddit Telegram The post What Is Ethereum Classic (ETC)? | A Guide to the Original Ethereum Blockchain appeared first on CoinCentral.
Coin Central

Ethereum Classic (ETC) Daily Price Forecast – February 19

ETC/USD market has risen significantly, but now may soon be experiencing its subsequent movements in a range. A bearish re-emergence may occur during a strong reversal of the current swing uptrend. ETC/USD Medium-term Trend: Bullish Supply levels: $5.2, $5.4, $5.6 Demand levels: $3.7, $3.5, $3.3 The last 4-hour trading session on February 17, has turned the ETC/USD market trend to relatively experience more notable ups. The pair has risen from $4 mark to eventually touch $4.8 high point today. In the recent past, the crypto price ranged significantly between $4.2 and $4 market levels. Both the Bollinger Middle Band and the 50-day SMA are a bit bent northward within the last range zones. Currently, price has been trading around $4.6 market line. The Stochastic Oscillators are now consolidating within the overbought zone. The bulls are now in their market consolidation mode, and they may now be witnessing a line of price convergences around $4.8 and $4.6. In the wake of that, there is a tendency of this entering other range zones. ETC/USD Short-term Trend: Bullish There have been a significant price uptrend movements in the ETC/USD short-term market worth since the trading continues today. Yesterday, the crypto-market rose northward as well along the Bollinger Upper Band. The market has been kept trading around the $4.8 and 44.6 price levels. The 50-day SMA is closely located a bit over the Bollinger Lower Band. The Stochastic Oscillators have crossed from the overbought zone to briefly point south a bit above range 60. $4.8 mark has now been affirmed as a rejection point to the current ETC/USD uptrend force. Therefore, a strong reversal between that point and a bit over it could cause a bearish re-emergence in this crypto-trade.   The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Bitcoin Exchange Guide

Ethereum Classic Price Gains 12% in Ongoing Push to $5

In the world of cryptocurrency, numerous projects try to mimic Bitcoin. This occurs either by copying its code or blatantly copying the Bitcoin name. In the case of Ethereum, its own forked currency has not been performing too well. In fact, the Ethereum Classic price has been all but forgotten about until this most recent uptrend began taking shape. Ethereum Classic Price Rises Sharply Although there was some initial excitement regarding Ethereum Classic, that has all but evaporated in the process. Not entirely surprising by any means, but it is evident this is not what the community had envisioned first and foremost. Even so, when it comes to making money through random and unexpected pump cycles, Ethereum Classic is still worth keeping an eye on at any given moment. Over the past few hours, it quickly became apparent the Ethereum Classic price follows Bitcoin’s momentum. Although the 12% increase in value is significant, the ETC price still sits at just $4.75. That is a long way removed from its all-time high. In terms of ETC/BTC, a 6.7% increase has formed which pushes that ratio to 0.0012 BTC again.  With $338m in trades, it would appear the forked version of Ethereum is holding its own. On social media, any discussion pertaining to ETC comes off as forced more often than not. O.G. Pharaoh, for example, offers some pretty unusual investment advice. According to this user, ETC will need to reach a new all-time high soon. Even under these bullish circumstances, it seems unlikely such an all-time high can materialize in the near future. One can always hope, though. Tomorrow I want to see #EthereumClassic reach a new height that has already. Even reached to prepare to go higher than before. #Bitcoin can follow in our footsteps Haha! — ∆  O.G. Ṕharaoh ∆ (@breezythepharoa) February 19, 2019 This same user takes his advice one step further by telling users how they should invest in things which can be “beneficial to their life”. The choices offered include gold, copper, and Ethereum Classic. A very odd and forced sentiment to get some Tweets out pertaining to ETC these days. This is not necessarily the kind of attention this project needs. Dont forget to invest in other things that might be helpful and beneficial to your life like gold, copper #EthereumClassic and your health. — ∆  O.G. Ṕharaoh ∆ (@breezythepharoa) February 19, 2019 For those users who genuinely do not want to hold onto Ethereum Classic for too long, exploring arbitrage options is always a viable alternative. This is one area ETC excels at on a regular basis. Even today, there is some good money to be made with this altcoin in that particular department. As the volume of this altcoin remains relatively high, it should not pose too many problems to make good things happen in terms of profits. #ETCBuy at #Koineks and sell at #Binance. Ratio: 1.13%Buy at #Koineks and sell at #Gate.io. Ratio: 1.06%#bitcoin #arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC — Arbing Tool (@ArbingTool) February 19, 2019 As is always the case in cryptocurrency, nothing is ever set in stone. While it is good to see most of the top 20 markets note some solid growth all of a sudden, it seems too good to be true from a long-term perspective. How this will play out for Ethereum Classic, is very difficult to guess. The market is a very unusual one in every way, and it is possible its momentum has no real ties with other markets at this time. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Ethereum Classic Price Gains 12% in Ongoing Push to $5 appeared first on NullTX.
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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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Cryptocurrency and Blockchain - Industry News (02.15.19 - 02.22.19)

Total Market Cap, as of 02.21.19 at 5:30pm (PST): $133,778,212,242 (+11.11% from last week) Missed last weeks update? Click here STORY OF THE WEEK •A developer in the community released Tippin.me, a Chrome and Firefox browser extension that enables Bitcoin (BTC) tipping on Twitter via the Lightning Network. CRYPTOCURRENCY EXCHANGES •Binance launches the test-net of its allegedly decentralized exchange, Binance DEX. Users can now manage their own private keys and the associated wallet. •Binance de-lists 5 projects – CloakCoin (CLOAK), Modum (MOD), Salt (SALT), Substratum (SUB) and Wings (WINGS). •Huobi.com lists 3 projects – Stellar Lumens (XLM), Monero (XMR) and Steem (STEEM). •Coinmama, a Slovakian based exchange suffers a security breach which leaked 450,000 user email and passwords. •KuCoin releases version 2.0 of its platform. The update introduces new interfaces across the web and mobile applications, additional 2FA options and order types for users. REGULATION •The U.S. state of Wyoming passed 3 bills that involve digital assets. Digital assets owned by consumers are now categorized as intangible personal property. Banks can now issue digital custodial services and issue securities in tokenized forms, provided they comply with accounting, control and other standards. •The U.S. Securities and Exchange Commission (SEC) settles unregistered securities charges against Gladius Network, whom have conducted an ICO near the end of 2017. There is no penalty as a result of self-reporting. •$430,000 USD worth of cryptocurrencies seized by Belgian law enforcement will be auctioned off on Feb.28 at 12:00pm GMT by Wilsons Auctions – the largest auction company in the UK and Ireland. •The Central Bank of Bahrain’s (CBB) is launching a regulatory sandbox for blockchain and crypto companies. This will allow firms to test solutions and expedite new companies entrance into the market. •2 Bitcoin ETF’s registered by financial firms VanEck/SolidX and Bitwise await approval from the U.S Securities and Exchange Commission (SEC). This kicks off a 45 day countdown to an initial decision. TECHNOLOGY •Samsung’s flagship phone, the Galaxy S10 will introduce “Samsung Knox”, a hardware security feature to store private keys for blockchain applications. •Facebook’s CEO Mark Zuckerberg considers utilizing a blockchain to allow users to login to other sites without going through an intermediary on its existing “sign-in with Facebook” feature, dubbed Facebook Connect. INSTITUTIONALIZATION •Eurex, a derivatives exchange operated by German financial giant Deutsche Boerse is looking to launch futures contracts tied to digital assets such as Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP). •Latin America’s largest investment bank Banco BTG Pactual SA is releasing its own blockchain-based security token dubbed “ReitBZ”. The token’s value is backed by real estate assets within Brazil. PEOPLE •Ethereum loses Afri Schoedon, a core developer for the open-sourced project since 2015. •TrueDigital, a provider of institutional products for digital assets hires Thomas Kim – previously COO of Bridgewater Associates. Bridgewater is a U.S based asset management firm with currently $124.7 billion USD under management. •Digital Asset, a distributed ledger company for financial services loses head of business for Europe, Oliver Hugh-Jones. Key executives continue to depart from the firm. TWITTER •@jack – “I hooked [tippin.me] up and already got tipped some satoshi’s.” •@alecziupsnys – “Taxi reform didn't come from taxis, but from Uber. Hotel reform didn't come from hotels, but from AirBnB. Finance reform didn't come from banks, but from Bitcoin.“ •@cryptoshillnye – “We are either really early or really stupid. $crypto” •@jackdwagner – “If your boyfriend needs to be taken down a notch just start casually asking him how his bitcoin is doing.”
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Dogecoin / USD Technical Analysis: Failing To Capitalize

Dogecoin is neutral in the short-term after the recent rally in the pair failed to break above a former key swing-high DOGE / USD is bearish in the medium-term with price still trading below the neckline of a sizeable head and shoulders pattern Large amounts of bullish MACD divergence seen on the daily time frame Dogecoin / USD Short-term price analysis   In the short-term, Dogecoin is neutral due to the pair failing to move above a former key swing-high during its most recent upside rally. The cryptocurrency is starting to turn lower in the near-term, although price is still above the pair’s 200-period moving average on the four-hour time frame. Technical indicators on the mentioned time frame are turning lower with further scope to push the DOGE / USD even pair lower.     DOGE / USD H4 Chart                                                                         (Source: TradingView)     Pattern Watch The recent rally has created a bullish inverted head and shoulders pattern on the four-hour time frame, which should be monitored closely over the short-term.   MACD Indicator The MACD indicator is trending lower on the four-hour time frame with a bearish crossover underway.   Relative Strength Index The RSI indicator has turned bearish, with push bears taking control below the neutral line. Dogecoin / USD Medium-term price analysis   Dogecoin remains bearish over the medium-term, with buyers unable to move price above the neckline of a large head and shoulders pattern on the daily time frame. A long-term technical bottom has yet to be confirmed in the cryptocurrency, as price remains relatively close to the pair’s multi-year trading lows, despite the broader market rally. Interestingly, Dogecoin is showing bullish MACD divergence on the daily time frame from November of last year.     DOGE / USD Daily Chart                                                                         (Source: TradingView)     Pattern Watch The bearish head and shoulders pattern is the major theme to watch on the daily time frame.   MACD Indicator The MACD indicator remains neutral and is currently failing to generate a clear trading signal.   Relative Strength Index The Relative Strength Index has recently started to recover after an extended period of downward pressure. The indicator is showing that bullish momentum is growing across the daily time frame. Conclusion   Dogecoin is likely to remain under slight downside pressure over the short-term, while its medium-term outlook is decidedly bearish as buyers continually struggle to stage a rally above the neckline of the head and shoulder pattern. Some caution is advised in the medium-term, especially if the broader cryptocurrency market continues to trade higher, as Dogecoin shows a sizeable amount of bullish MACD price divergence that has yet to be reversed on the daily time frame.   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Dogecoin(DOGE) Price $0.0020 Market Cap$241,941,083.92 #ccpw-ticker-24522 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24522 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24522 a.tabperiods.tabperiods_active, #ccpw-ticker-24522 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24522 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24522 .coin-container:after, .ccpw-container_four #ccpw-ticker-24522 .coin-container:after {border-color:#ccc !Important;} Join the conversation on Telegram and Twitter!   Decentral Media, Inc., the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any transaction. You should never make an investment decision on an investment based solely on the information on our website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an investment. The post Dogecoin / USD Technical Analysis: Failing To Capitalize appeared first on Crypto Briefing.
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Latin America’s Biggest Investment Bank Launches Security Token

Banks once refused to work with blockchain companies in Brazil. Now, BTG Pactual, Latin America’s largest standalone investment bank, is launching a security token of its own. A Wave of Change in Brazil There seems to be a wave of change happening in Brazil. Bitcoinist reported just a few days ago that Santander Bank was ordered by a Court to keep open Bitcoin Max’ checking account. Banks that were once hesitant to work with cryptocurrency exchanges are being forced to eat humble pie. That marked a small victory for the cryptocurrency space in this part of the world. And now, it seems that financial institutions here are realizing the worth of digital assets within their own portfolios. Banco BTG Pactual SA Is Leading the Way Brazil’s Banco BTG Pactual, the largest standalone investment bank in the region, has announced that it will be entering the cryptocurrency space with its own security token, the ReitBZ. With a plan to raise up to $15 million in its token sale, STO, initial offering, or whatever terminology you prefer, the bank will launch a security token backed by distressed real estate assets in Brazil. The ReitBZ token will use blockchain technology. And investors will be able to buy it using the Winklevoss twins’ Gemini Dollar or ETH. The token is indisputably a security token since investors will receive dividends periodically from the recovery of the distressed assets. Hold Up, What Are Distressed Assets? A distressed asset is one that is put on sale at a reduced price because its owner has been forced to sell it. This may be due to excessive debt, bankruptcy, or regulatory constraints. And it’s especially common when it comes to real estate, a market in which during times of financial crises, people often fail to make their mortgage payments. Distressed assets are an excellent opportunity to buy into a devalued asset and make gains as the market recovers. They’re not so awesome for the person forced to sell, of course, but this is capitalism, after all. The BTG distressed real estate assets will be managed by a BTG subsidiary called Enforce. The ReitBZ token will be available worldwide. With the notable exception of the U.S. (surprise, surprise), and Brazil. Wait, so investors around the world will be able to profit from the rising housing crisis in Brazil–but not the Brazilian people themselves? Right. How’s that for messed up? BTG, however, assures that once the regulatory landscape clears up in Brazil, the ReitBZ will be open to its country’s citizens and maybe even the United States as well. The Opportunity for High Yearly Returns According to the bank, investors can expect yearly returns from these assets between 15-20 percent. Moreover, BTG will be providing market-making services for its token to ensure that investors have sufficient liquidity to sell when they want to. CTO Gustavo Roxo told Bloomberg: BTG is deploying its own capital to provide liquidity because it really believes in the crypto business… We came up with this structure because we think investors in the digital world have a higher risk-taking appetite. By using a crypto asset, BTG can maximize returns from its distressed assets and allow investors to enter the market in a cheaper way. The initial sale period of ReitBZ will last for approximately 90 days and proceeds will be reinvested into the portfolio. Banks and Cryptocurrencies Starting to Gain Momentum The announcement comes off the back of the news last week that JPMorgan became the first U.S. bank to launch its own ‘cryptocurrency.’ With CEO Jamie Dimon well-known for ‘Bitcoin bashing’, JPMorgan introducing its own digital coin to accelerate payments was a shock to many in the industry. However, JPMorgan and BTG are not the only horses in this race. It seems that the banks haven’t been falling asleep at the wheel when it comes to cryptocurrency after all. Japanese Mitsubishi UFJ Financial Group started working on plans for their own token back in 2016. And now Brazil has stepped up to the plate. BTG’s partner and initiative head of the ReitBZ Andre Portilho said: We knew we needed to dominate this technology, so we started experimenting with it a few years back… We thought Bitcoin and other currencies were turning too volatile, but we saw an opportunity with this token to try something new–but also with our skin in the game. The question now isn’t whether other banks will launch their own digital currencies, but rather which ones? Will more banks follow with their own virtual currency? Share your thoughts below! Images courtesy of Shutterstock The post Latin America’s Biggest Investment Bank Launches Security Token appeared first on Bitcoinist.com.
Bitcoinist

Korea Exchange Official: US Decision on Bitcoin ETF Will Set Tone for Local Crypto Market

Korea Exchange Official: US Decision on Bitcoin ETF Will Set Tone for Local Crypto Market An official at South Korea’s sole securities exchange operator, the Korea Exchange (KRX), says the bourse is closely eyeing developments from United States regulators in regard to Bitcoin (BTC) exchange-traded funds (ETFs). The official, reportedly speaking on condition of anonymity, […] Cet article Korea Exchange Official: US Decision on Bitcoin ETF Will Set Tone for Local Crypto Market est apparu en premier sur Bitcoin Central.
Bitcoin Central
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