Bithumb

Established in 2013, South Korea. No. of pairs - 37. Fiat - KRW. Centralized exchange.

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Bithumb Releases Pickthumb, a New Crypto Coin Screening Voting Platform

In another piece of welcome news for the global crypto community, South Korean firm ‘Bithumb’ has just announced the launch of its beta ‘public voting system’ that can be used to screen new coins that will be listed on the exchange. By implementing this latest protocol (called ‘Pickthumb’), the firm looks to improve its overall transparency as well as make its coin listing process much more streamlined and hassle free. In this regard, it is worth remembering that Bithumb is currently in the process of evaluating five unique coins. About The Voting Platform Via a public announcement made on Thursday, a spokesperson for Bithumb spoke at length about the launch of their public voting platform ‘Pickthumb’ . As per the official company website: “Pickthumb is a platform for screening excellent coins based on your fair evaluation … users can directly evaluate, validate and vote on cryptocurrency projects that will be listed on global cryptocurrency exchange Bithumb.” More On The Matter At press time, Pickthumb’s official website lists five crypto projects that have around nine days of voting left. Additionally, in total, the ecosystem consists of 41,778 voters along with a total of 94,983 votes. The five projects include Rom Amo Blockchain Ttcprotocol Olivecoinole Contentos In regards to how the entire voting process works, platform users have the power to vote “for or against projects” in each round. What this basically means is that digital currencies that attract a lot of downvotes face the risk of being disqualified from listing consideration. Also, after each round ends, Bithumb carries out its very own “internal review” of the winning project. Final Take On paper, Pickthumb sounds like a wonderful project, however, there are many analysts who claim that this app is ridden with loopholes that subject it to blatant “vote manipulation”. In this regard, a spokesperson for the firm announced that in the event of any such activity being “detected”, the project will immediately be “excluded from the voting round”. Not only that, indulging in activities associated with vote mismanagement can also lead to user accounts being permanently suspended. Some areas which come under the privy of “election fraud” include User impersonation Buying of votes Selling of votes Recommending others to vote in favor of a project The official Bithumb website also states: “Any act that requires money (or coins) for the benefit of a candidate listed for voting is a fraud.”
Bitcoin Exchange Guide

Crypto Echange Bithumb Introduces Voting Platform For Cryptocurrencies

South Korean crypto exchange Bithumb has rolled out a new public voting platform designed to screen tokens vying to list on the cryptocurrency exchange. Called Pickthumb, the public voting platform aims to strengthen the “transparency and fairness” of Bithumb’s cryptocurrency evaluation and listing process. According to the Pickthumb website, the platform will screen new coins based on the public’s fair evaluation. “Users can directly evaluate, validate and vote on cryptocurrency projects that will be listed on global cryptocurrency exchange Bithumb,” the exchange said. Bithumb said the platform will allow registered users to actively give their opinions and “exert more influence” on coins to be listed on the exchange. The company added that the platform’s objective is to promote a healthy cryptocurrency ecosystem that investors can believe in. The voting process has two rounds. Each round will last for two weeks and the next round will be announced in advance. However, the duration of the round may change depending on the community situation. At the start of the round, users can support individual cryptographic projects by exercising individual voting rights. Users can view information about promotions, promotional policies, and reviews from reviewers that have participated in the voting. If a user-sponsored project wins the poll, the crypto project will be able to air-drop the coin promised as a policy through a personal password coin purse registered in PixSum. The platform will reportedly handle vote manipulation by constantly monitoring the voting situation 24/7. Crpto projects identified with fraudulent activities will be immediately removed from the voting round. An account may be permanently suspended if a user is found impersonating others to vote, buying votes, selling votes, and motivating or recommending others to vote in favor of a project. Pickthumb is currently evaluating five crypto project in its first round, including Contentos, AMO, OliveCoinOLE, OliveCoinOLE and TTCProtocol. At the time of the writing, 49,882 voters have participated and a total of 108,919 votes was cast.
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How Bithumb Exchange Might of Helped Bitcoin Remain Stable During the Last Few Months

Bitcoin has been in a bear market since the beginning of the market, and during the last few weeks, Bitcoin and other virtual currencies reached new lows this year. According to Cryptocompare, there are some findings that could have played an important role at the time of stabilizing Bitcoin prices during the last months. Since August until November, Bitcoin was traded between $6,000 and $7,000, with a short exception at the end of August and the beginning of September. In a report released by Cryptocompare, it analyses global volumes on crypto exchanges and where they come from. The report shows that there were several promotions on the Bithumb exchange that might have played an important role in helping Bitcoin’s price to be sustained. The volume promotion by Bithumb seems to have caused several months of stabilization for Bitcoin. However, this is a theory that is not proved and there are other issues that influenced the markets to behave in a specific way. Bithumb is one of the largest virtual currency exchanges in the market. At the time of writing, it handled $1.42 billion dollars in trading volume in the last 24 hours. Bithumb featured a program called Super Airdrop Festival between September and October. At the same time, it offered a special gift promotion for new registrations during a month between October and November. After the end of these programs, the market plummetted. Bitcoin lost around 40% of its value in just a few weeks, and the whole cryptocurrency market lost more than $110 billion dollars, equal to 50% of its value. Bitcoin is currently being traded around $3,515 and it has a market capitalization of $61.22. In the last 24 hours, most of the virtual currencies are operating positively.
Bitcoin Exchange Guide

Bithumb Launches Voting Platform to Screen New Cryptocurrencies

Major South Korean cryptocurrency exchange Bithumb has beta launched a public voting system for screening new coins to be listed on its exchange. The platform, Pickthumb, aims to boost transparency and fairness in Bithumb’s listing process. Five coins are currently being evaluated with the current voting round ending in nine days. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Bithumb’s Voting Platform One of South Korea’s largest cryptocurrency exchanges, Bithumb, announced on Thursday the beta launch of Pickthumb, its public voting platform for coins vying to list on the exchange. The aim of this new platform is to strengthen the “transparency and fairness” of Bithumb’s cryptocurrency evaluation and listing process, the exchange detailed. According to its website: Pickthumb is a platform for screening excellent coins based on your fair evaluation … users can directly evaluate, validate and vote on cryptocurrency projects that will be listed on global cryptocurrency exchange Bithumb. Bithumb explained that any registered users can participate, adding that members can actively give their opinions and “exert more influence” on coins to be listed on the exchange. Going forward, Bithumb says it “will try to promote a healthy cryptocurrency ecosystem that investors can believe in.” Five Projects, Over 40,000 Voters so Far Pickthumb’s website currently lists five crypto projects in its first round which has nine days left. Each round lasts two weeks. At the time of this writing, there have been 41,778 voters and a total of 94,983 votes. The five projects are Rom, Amo Blockchain, Ttcprotocol, Olivecoinole, and Contentos. Users can vote for or against projects in each round. Coins attracting a large number of downvotes can be disqualified from listing consideration. After each voting round has ended, Bithumb will conduct an internal review of the winning project. According to the announcement, members who vote for the winning project will receive an airdrop of the winning coin. Penalties for Vote Manipulation On Friday, Pickthumb published a notice about how it will handle vote manipulation. The notice reads: Pickthumb is constantly monitoring the voting situation 24 hours a day for fair voting. In the event of unfair voting, the cryptocurrency project identified with fraudulent activity shall be immediately excluded from the voting round, the notice details. Furthermore, activities designed to manipulate votes can result in user accounts being permanently suspended. They include impersonating others to vote, buying votes, selling votes, and motivating or recommending others to vote in favor of a project. Pickthumb’s website states: Any act that requires money (or coins) for the benefit of a candidate listed for voting is a fraud. What do you think of Bithumb’s voting platform? Let us know in the comments section below. Images courtesy of Shutterstock, Pickthumb, and Bithumb. Need to calculate your bitcoin holdings? Check our tools section. The post Bithumb Launches Voting Platform to Screen New Cryptocurrencies appeared first on Bitcoin News.
Bitcoin News

CryptoCompare: Bithumb Ranks Over Binance In Trading Volume

South Korean Bithumb surpassed the popular cryptocurrency exchange Binance in terms of trading volume in November. This report by analytical website CryptoCompare. Compiling the report, experts analyzed data from 70 cryptocurrency trading platforms. ... Запись CryptoCompare: Bithumb Ranks Over Binance In Trading Volume впервые появилась Bit.news.
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Prosecutors Call for Ten Year Jail Term for Karpeles Over Mt. Gox Embezzlement

Mark Karpeles, the CEO of Mt Gox, is currently being accused of embezzlement by Japanese authorities. The prosecutors of the court case are seeking a 10-year sentence for the ex-CEO, which commanded the now-defunct Mt Gox exchange. This comes in the midst of the extension announced for civil rehabilitation claims. Japanese prosecutors say as much by alleging that Mark Karpeles's actions "played a great role in totally destroying the confidence of Bitcoin users. The actions in question are that he allegedly embezzled a total of 341 million yen (US$3 million) of customer funds from the Mt Gox account, moving it to his personal account between September and December 2013, while padding the numbers on his company's trading system to cover up the loss. Karpeles has sworn his innocence and says the money, moved in the last four months of 2013, was meant to serve as only a temporary loan. He also argued, earlier in the trial, that the funds in question did not belong to clients but were his now-defunct company’s revenue. In response to the former CEO’s statement, the prosecutors at the court said: There was no documentation of loans, and there was no intention of paying back the money. The prosecutors went further to demand a harsh sentence for Karpelès. According to the Japanese prosecutors, the Mt. Gox Chief betrayed his clients’ confidence and misused most of their funds. The ex-CEO is currently confined to Japan as a condition of his bail and has been answering in freedom. He has often protested his innocence and publicly appealed to the industry. It remains unknown when the trail will conclude, the publication added.
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Tezos [XTZ] Story – XTZ and Waves Highest Gainers

As many crypto enthusiasts have started to notice, there is a slight attempt by the bulls to get Bitcoin – BTC against the US Dollar up back on its feet. Read: Bitcoin (BTC) Price Analysis: Are Bulls Back on Their Feet? Bitcoin bull Mike Novogratz insists that bitcoin won’t fall to the $80 level despite signs that the bear market could persist. In an interview with Bloomberg, he reiterated that bitcoin will become digital gold and that revolutions don’t happen overnight. If the supportive trend line starts to gain momentum and hold-off any waves of bears that tend to tank the value downward, a ripple-effect could present itself impacting all following altcoins as the pioneer cryptocoin always does. Among the top 20, the highest gainer in the last 24-hours without a doubt is Tezos [XTS]. Per time of writing, the pair XTS/USD is changing hands at $0.4197 – marking an increase of 13.23%. Source: coinmarketcap Tezos for starters – During one of the most successful and largest ICOs ever held – Tezos Foundation raised over $232 mil bringing a new cryptocurrency in the market. During a contact made by Reuters to the president of the foundation it was confirmed that its MainNet was set to launch on the 14th of Sep, 2018. #Breaking @millervalue #ValueInvesting #Crypto #Bitcoin #Cryptocurrency project #Tezos to launch main #network next week:… https://t.co/nqOY185XCh — John M. Spallanzani (@JohnSpall247) September 14, 2018 What is Tezos (XTZ)? Tezos is a decentralized computing platform for Turing-complete smart contracts. Tezos has three key features. (1) “Liquid Proof-of-Stake” consensus – there is a relatively low barrier to consensus participation and delegation is not required. (2) Smart contract verification – Tezos invented the Michelson programming language that allows formal proofs of contract properties for better contract security. (3) On-chain governance – all aspects of governance are contained in the platform: voting on proposed protocol upgrades, paying developers and implementing the upgrades. – Via Kraken’s blog post – Kraken Listing XTZ Blog Post Right on its tail is Waves which is welcoming a daily price hoist of 10.01% against the US Dollar reaching the mark of $1.85. Its beginning of December price surge as it seems is still continuing. The reason for this trend was the recent announcement of the release of a significant update to the mobile wallet. We are excited to announce a long-awaited update of the #Waves Mobile app! Deposit, store and withdraw your #crypto securely, trade your assets on DEX, lease your $WAVES — everything is now available right on your smartphone! Read more about it here: https://t.co/5Qp7YKTa8r pic.twitter.com/y5hsCXj2GV — Waves Platform (@wavesplatform) December 3, 2018 The post Tezos [XTZ] Story – XTZ and Waves Highest Gainers appeared first on Ethereum World News.
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