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Mixed Reaction To Facebook’s Libra Coin Among The Bitcoin Community Leaders

It goes without saying that Facebook’s foray into cryptocurrency is perhaps one of the most discussed topics amid the entire community. Looking closely, though, we can see that the response, in general, is somewhat mixed. Changpeng Zhao Seemingly Positive on Libra The CEO of the world’s leading and definitely most proactive cryptocurrency exchange, Binance, sees quite a lot of positivity in Facebook’s venture into the field. The executive is pretty vocal on his stance, saying that countries should be encouraging their major tech corporations to issue their own tokens as a means of increasing influence. Zhao, however, touched upon a rather sensitive subject – the one about anonymity, KYC, and AML procedures. This was perhaps provoked by the fact that, according to the official website, users who want to download the Calibra app would have to submit a government-issued ID document, causing substantial turmoil amid cryptocurrency enthusiasts. Yet, Zhao reminded that Facebook already has all the information on their users. Facebook Libra coin don’t need KYC. They have so much more data on the 2 billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like… They know you more than yourself. And now your wallet too. Best AML! — CZ Binance (@cz_binance) June 18, 2019 Moreover, Binance also did a thorough review of the long-awaited cryptocurrency, outlining the potential impact it could have in both short- and long-term. According to the report, through Libra, Facebook could establish itself as a provider of open-source technology, while also sparking additional volume in the entire market. Looking from a long-term perspective, Binance outlined that Libra could reshape the payment industry, provide new offerings of financial services, as well as to advance greater freedom of money throughout the world.   Others Are Rather Hesitant Popular industry commentator Ari Paul said that Libra might not even see the daylight. According to him, there’s a 50/50 chance of the cryptocurrency to go forward as there are dozens of different regulatory and legislative authorities which will explore how to block it. The CEO of the popular cryptocurrency exchange ShapeShift also weighed in. According to him, Facebook launching its own cryptocurrency is a massive milestone for the industry, when you look at the bigger picture. Thoughts on Libra (and my first tweetstorm!):  first, zoom out for a second and realize how far this industry has come. The biggest companies in the world are now launching cryptocurrencies. BOOM. – He said. He also outlined a lot of positives, but didn’t forget to state the obvious – that Libra is “clearly not a pure cryptocurrency,” and that nobody “should expect privacy by using it.” He said that there are regulatory burdens which will prevent its acceptance throughout the entire world. We already saw European government official backlash against it, saying that multinational companies such as Facebook shouldn’t be allowed to operate in a “regulatory nirvana when introducing virtual currencies.” The Community Doesn’t Trust Libra Over Banks In what looks like the ultimate statement of the community, the overwhelming majority of people have clearly stated that they won’t trust Libra even over traditional banks. Would you trust Facebook’s coin (Libra) more than payment and financial services provided by banks? Vote and retweet to get a good sample size. Comment if you have an opinion on the matter or tag someone who does. — Gabor Gurbacs (@gaborgurbacs) June 14, 2019 As seen in the results of this poll posted by Gabor Gurbacs of VanEck, 79% of people are skeptic of Libra’s trustworthiness compared to traditional banks. Given that over 3,600 people voted, the results can’t simply be overlooked. The post Mixed Reaction To Facebook’s Libra Coin Among The Bitcoin Community Leaders appeared first on CryptoPotato.

Top Cryptocurrency Community Leaders and Figures’ Discussions During 2018

During 2018, there have been several discussions among individuals from the cryptocurrency space. Some of them in favor of one or another digital asset while some others do not support virtual currencies. One of the confrontations that the market witnessed was between Tone Vays and Nouriel Roubini. Tone Vays is a Bitcoin proponent and a trader. Roubini is known for predicting the 2008’s crisis. Vays commented on Twitter about a specific haircut that he wanted to do. Under the tweet, Roubini answered his tweet attacking Bitcoin and Tone’s position about it. Nouriel Roubini has also been exchanging comments with Vitalik Buterin, Ethereum’s co-founder. Roubini accused Buterin of stealing 75% of Ethereum’s supply. However, Buterin answered that he does not have the money that Roubini believes he has. Vitalik Buterin has also clashed with Justin Sun the founder of the Tron Foundation and its CEO. Buterin commented that virtual currencies will not have another opportunity for a 1000-times growth. However, Justin Sun mentioned that Tron (TRX) would be able to surpass Ethereum in the number of transactions. Nevertheless, this is not the last issue that Buterin faced. He has also been involved in an argument with Binance CEO, Changpeng Zhao. Binance is one of the largest virtual currency exchanges in the market. Changpeng Zhao asked Vitalik Buterin to which everyone in the cryptocurrency space good things. Another event that shaped this 2018 was the hash war and discussions between Bitmain’s Jihan Wu and Craig Wright. They were both proponents of different scaling solutions for Bitcoin Cash (BCH). Wu supported Bitcoin ABC’s proposal while nChain’s Craig defended Bitcoin Satoshi Vision (BSV). Starting on December 15, both networks were involved in a hash war trying to be the most important network. However, the hash war ended with Bitcoin SV forking from Bitcoin Cash’s network. Now, Bitcoin Cash and Bitcoin SV are two different assets. John McAfee, perhaps one of the most bullish individuals in the cryptocurrency market, has been arguing with the U.S. Securities and Exchange Commission (SEC) about regulatory issues. The SEC has been trying to regulate the crypto market during 2018. McAfee said that he does not agree with the head of the SEC (Jay Clayton) when he talks about ICOs as securities. Furthermore, McAfee says that he disagrees with him and that he will not be working anymore with future ICOs. McAfee has been promoting different ICOs and companies in the crypto space. Additionally, McAfee has also been attacking the cryptocurrency exchange HitBtc. He said that the platform increases the suffering of millions of poor people that are not able to afford the minimum buy-in since it is greater than their monthly income. These are just some of the examples of different tweet wars that took place in the cryptocurrency industry during 2018. There are others that have also been interesting to follow and there will be many others to come in the future.
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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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Bill Clinton in Swell by Ripple Event

The main reason as to why Ripple decided to invite the former president was because of his fame and background on drafting policies that help emerging technologies. During his tenure as president, Clinton signed the Telecommunications Act of 1996 which is said to have started the internet age.

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Vitalik: ETH Be Integral to Ethereum

Vitalik Buterin gave a voluminous response to Jeremy Rubin’s grim outlooks on ETH. Before diving into the technicalities of the issue, the co-founder of Ethereum kindly provides a TL;DR: We are likely not doing full "economic abstraction".

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Bitcoin Gold Rush, ShapeShift FOX, Binance In India, CFTC + Libra & Ripple + Oxford

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ShapeShift Launching FOX Coin to Compete on ERC-20 Market

Coinspeaker ShapeShift Launching FOX Coin to Compete on ERC-20 MarketThere are many utility tokens on the market, some of them left from the “golden ICO era” of 2017, some of them came later. Every time a smart investor is looking at a new project, he thinks – a token again? Yes, one more token, this time coming from the veterans of the industry.To compete with Binance‘s Binance Coin and Bithumb Coin that has been recently officially launched by Bithumb, you need something special. Since Erik Voorhees, CEO and founder of ShapeShift, is not an ordinary person, having connections all over the industry, he has prepared a gift so unique you won’t be able to resist it. When registering on the platform, a user automatically gets 100 FOX tokens. He then can hold them within the account, which will grant $10 in free trading volume per token per month.Voorhees says that his company was thinking about launching their coin since 2017. No wonder, considering this year can be named the most profitable to scammers, thieves, and even idiots. You cannot trade with losses when the market is rising all year long, right? Finally, after 2,5 years of thinking about the creation of coin, ShapeShift made it.FOX Token Won’t Use Own BlockchainAs you may already notice, the new cryptocurrency – ERC-20 Ethereum token, is some token with high liquidity and a small area of using. It touches the lives of bitcoiners around the globe in a speedy, hardcore manner to make them leave custodial exchanges. The company will gather everything around being a non-custodial wallet. Erik noted:“We’re hoping that this will help marginally move some people away from custodians and be more comfortable with the non-custodial model.”Voorhees thinks that it is OK that the new coin won’t have its own blockchain. Its purpose is pretty limited, so there is no need for expensive mining equipment or video blades to perform well in mining, trading or staking this new asset. He also claims that Shapeshift will allow you to claim more benefits from staking in the future months, using the FOX. The service says that the new money will be used in different use cases, including the goal of shifting users from centralized exchanges to this new ideology. “ShapeShift’s goal is to make self-custody a seamless and enjoyable experience because this will help the world move toward self-sovereign finance and away from fiat,” added he.ShapeShift Can Provide the Liquidity You NeedThere is no other crypto custodian that will let you hold your coins as a self-custodian and trade for free at the same time. Only SS can process large amount of clients on their servers. Thousands of people are fleeing to the company every day, but many leave due to the KYC measures. What made this “fleeing” so special is that they buy cryptocurrencies and sell them so that the market moves somewhere.“This has nothing to do with establishing a new chain. Basically, we’re trying to get people away from custodial exchanges. This is an endemic problem in the crypto world that was a problem in 2011 when I first got involved, and it’s still a problem. So, we realized that to solve that, we had to provide all that stuff in one place,” said Voorhees.ShapeShift Launching FOX Coin to Compete on ERC-20 Market

USDT Transfers in Ethereum Up 6,000% in 2019

Tether (USDT) dominance in Ethereum is on the rise according to GlassNode, an on-chain market intelligence firm. Cumulatively, the amount of USDT transacted in Ethereum exceeds $100 billion, a 6,000% rise since early 2019. USDT is a stablecoin that is pegged 1:1 against the USD and several fiat currencies. It is officially issued by Tether Limited, a company that has links with Bitfinex, a Hong Kong-based cryptocurrency exchange. USDT Statistics in Ethereum #Tether adoption on #Ethereum still on the rise: $USDT cumulative on–chain volume just surpassed 100 billion USD. That's an increase of more than 6000% since the beginning of 2019. — glassnode (@glassnode) November 19, 2019 With the shift to Ethereum, USDT transactions are now more active and even harder to track. Combined, Tether’s smart contracts have spent over 2,000 ETHs in Gas as per data from ETHGas Station. This translates to $367k paid as fees with each transaction billed at 21.1 GWei. It is over 10X more than those paid by IDEX smart contracts. There are 562,969 USDT holders generating 11,734,646 transfers pushing Tether’s diluted market cap to $2.03 billion. Overall, the token circulating supply stands at $4.12 billion with a market cap of $4.124 billion at the time of press. USDT Token Holders At this rate, USDT smart contracts burn 10.49% of all Gas with average GWei fluctuating depending on supply and demand forces. When there is a noticeable rise or fall in Bitcoin prices, USDT activity tends to spike. Tether Limited’s Objective According to a circular from Tether Limited, the company has made headway in allowing users to send value over the blockchain without the inherent risk of volatility and complexity associated with free floating cryptocurrencies. By rolling out a stablecoin on Ethereum and complying with the ERC-20 standard, a guide used by most fungible tokens generated on the smart contracting platform, users enjoy faster confirmation times, low transaction fees than they would have on the Omni Protocol. ETH Falls to Third Place Earlier, a report by Bloomberg revealed that USDT was rapidly catching up with ETH and BTC as a preferable means of payment. Statistics published by CoinPayment showed that USDT popularity surged 30% as merchants were attracted to the token’s non-volatility and low transaction fees. BTC related payment shrunk to 60% from 80% with ETH dropping to third as USDT climbed to second. The post USDT Transfers in Ethereum Up 6,000% in 2019 appeared first on Coingape.

Bitfinex Announces Strategic Collaboration with ODEM to Expand Cryptocurrency and Blockchain Education

Zug, Switzerland, Nov. 21, 2019 (GLOBE NEWSWIRE) -- (via Blockchain Wire) ODEM SA and Bitfinex, a state-of-the-art digital asset platform, are excited to announce a strategic cooperation introducing a new model of education on the role of digital tokens in the blockchain-enabled economy. The idea is to provide an innovative token transaction simulation model, designed and operated by ODEM, using Bitfinex as its premier liquidity platform. Together, they will launch a series of programs and courses aiming at increasing the level of education of both novice and advanced Bitfinex users who are interested in obtaining more knowledge about the technical features of digital tokens. In conjunction with these educational programs, ODEM will launch a full simulation of its education marketplace. Bitfinex will provide the liquidity for ODEM transactions, reflected through ODEM's smart contracts. This way, Bitfinex users purchasing educational programs on the ODEM Marketplace using the same credentials as on Bitfinex will be able to view their ODEM Token transactions on Bitfinex's order book. "We're excited to be the first to market with completely mirrored fiat-to-crypto trades in our education and employment marketplace," said Richard Maaghul, CEO at ODEM. "Mirroring blockchain transactions allows users to view their payment activity reflected through our smart contracts in real-time and viewable through Transactions conducted by ODEM's Token simulation are fueled by liquidity provided by Bitfinex. With their support ...Full story available on

Polymath building new security token blockchain platform on Substrate

The team of Polymath, a platform for security token issuance and management, declared back in back in March of this year during Consensus New York, that it had begun work on building a new base layer public blockchain from the ground up – codenamed Polymesh. Now, Polymath has announced that it is building Polymesh on […] CryptoNinjas: Polymath building new security token blockchain platform on Substrate
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