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World's first Investor in Bitcoin startups including https://Bitcoin.com , https://Blockchain.com, http://Z.cash , BitPay, Kraken, Purse.io Active since 2009.

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Bitcoin Cash [BCH]: Roger Ver joins Jack Dorsey in calling for the creation of internet’s native currency

Bitcoin.com CEO and Bitcoin Cash [BCH] advocate, Roger Ver called for the creation of a native currency for the Internet, echoing the sentiments of many cryptocurrency proponents that strive for a cryptocurrency to emerge from and take over the World Wide Web. His entire statement, released by his official Twitter handle said, “The internet defies national boundaries. It needs a currency that defies national boundaries.” Ver is not the first cryptocurrency proponent to voice support for a native currency to the Internet. What is surprising, however, is that Ver did not suggest that Bitcoin Cash will be a viable option for the same. On the other hand, there are some who back Bitcoin to emerge as the internet’s first native currency. Earlier this month, CEO of Twitter, Jack Dorsey backed Bitcoin as a potential native currency for the future, on Joe Rogan’s podcast, the Joe Rogan Experience. The Twitter CEO said, “I believe the internet will have a native currency and I don’t know if it’s Bitcoin. I think it will be Bitcoin given all the tests it has been through and the principles behind it, how it was created. It was something that was born on the Internet, was developed on the Internet, was tested on the Internet and it is of the Internet.” Dorsey, who is also the CEO of Square, Inc. said that his company was one of the first ones to talk to the Securities and Exchange Commission [SEC] about Bitcoin regulation. Roger Ver, who is also referred to as Bitcoin Jesus within the community, has long lambasted the Bitcoin community since BCH hardforked away from the top cryptocurrency, in August 2017. Ver previously implied that Bitcoin did not have any, “store of value,” as it lacked any, “industrial use.” He likened Bitcoin to gold, affirming the metal’s industrial use. Despite the Bitcoin Cash proponent not pushing, or even suggesting that BCH could be the ‘internet currency,’ Twitter users replying to Ver’s tweet gave their own picks for the currency. Twitter user Bakktstreet Boys thought this was Ver’s way of returning to the BTC camp. He stated: “So, you’re coming back to BTC?” To Ver’s original tweet, Ben Beideman added, “It does. However, the physical world also needs currencies that defy national boundaries and control by financial gatekeepers. That’s a big part of what makes this “internet currency” so exciting. Its power to change everything, just as the internet changed everything.” Others veered away from the Bitcoin, Bitcoin Cash and Bitcoin SV camps, suggesting other more centralized alternatives. Dazybabes_Berlin replied, “You mean an eco-friendly, decentrlized, fast #crypto that is liked by the #imf and not controlled by Chinese miners?! Something like #XRP” The post Bitcoin Cash [BCH]: Roger Ver joins Jack Dorsey in calling for the creation of internet’s native currency appeared first on AMBCrypto.
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Roger Ver claims Bitcoin [BTC] maximalists have got Gold all wrong

Roger Ver never fails to stir up a storm within rival communities, this time riling up one of his favorite targets, the Bitcoin [BTC] community. Ver, who is also referred to as Bitcoin Jesus has continued his tirade against the top cryptocurrency since Bitcoin Cash [BCH] hardforked away from Bitcoin [BTC] in August 2017. In his most recent tweet, Bitcoin Jesus stated that the BTC camp gets the concept of one of the most stable assets in the world, Gold, wrong. He stated that the metal has a “huge amount of industrial uses,” and it is because of these very uses that Gold is considered a “store of value.” His tweet stated: “It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those other uses that enable gold to be used as a store of value.” Roger Ver failed to reference anything regarding the supply limitation of Gold, much like Bitcoin which is capped at 21 million. He claims that “those other uses,” give it the status of being a store of value. The implication from this tweet could be, besides an obvious attack on Bitcoin, is that the top-cryptocurrency does not have any “industrial uses,” and hence is one of the reasons BTC cannot be a “store of value,” or a medium of exchange. However, this implication was not explicitly mentioned by Ver in his tweet. Twitter users did not waste time and began lambasting Ver using the aforementioned supply cap argument. Mike Dudas, the founder, and CEO of The Block Crypto did not mince his words. He commented: “You and I both know that that is total horseshit — and I’m not a BTC maximalist, just someone with a normal amount of brain cells.” jratcliff63367, a game developer and software engineer at Nvidia, a Graphics Processing Units [GPU] manufacturer which is used in Bitcoin mining equipment, stated: “If gold were useful but also as plentiful as grains of sand, it would be nearly worthless. It’s not worth money because it’s ‘useful’, it’s worth money because it is scarce. BTW, Satoshi explained in detail how bitcoin mimics (and improves) upon the properties of gold.” Dr. Bitcoin [ß] commented: “No, it’s not. Silver and copper have many (more) industrial uses. That property is not what enables gold to be used as a store of value; its stock to flow ratio is. Regardless of how high demand is, amount of gold mined per year is predictably between 1-2% of total supply.” As far as stability goes, Gold being precious and, more importantly, a tangible metal will allow it to have more features of an asset striving to be a “store of value.” However, in terms of transferability, cryptocurrencies are more widespread. jratcliff63367’s second comment succinctly puts forth this argument: “It’s amazing that Roger doesn’t see the ‘industrial uses’ for bitcoin. The last time I tried to send an ounce of gold across the planet over the internet it didn’t work for me. Bitcoin does.” The post Roger Ver claims Bitcoin [BTC] maximalists have got Gold all wrong appeared first on AMBCrypto.
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Roger Ver Takes Time to Remind Hardcore BTC Believers About Gold’s Store of Value Uses

‘Bitcoin Jesus’ Roger Ver tried to make a point which many in the traditional institutions believe, that Gold is more valuable than Bitcoin (BTC). It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those […]
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After Bitcoin Developer Suggests Dropping Block Size To 300kb, Roger Ver Threatens To Sell His BTC

After Bitcoin Developer Suggests Dropping Block Size To 300KB, Roger Ver Threatens To Sell His Bitcoins If The Plans Go Through As the discussion on the halving of Bitcoin mining rewards goes on, the debate surrounding the block size of the popular token is becoming divisive. As this change has been suggested over time, it has even resulted in major hard forks, like Bitcoin Cash and Bitcoin SV. A developer for Bitcoin Core, Luke Dashjr, is responsible for bringing forth the idea of bringing down the Bitcoin (BTC) block size to 300KB. However, this idea has not been well received by the community, and there have even been major influencers in the industry to strongly fight back. Dashjr said, “There is never any guarantee. We need to reduce the block size just to have a *realistic hope* of it remaining feasible and *becoming practical again*. The blockchain is *already* bigger than most people are willing to tolerate, and the situation is getting worse and worse.” Roger Ver, the CEO of Bitcoin.com and a major supporter of BCH, spoke during a recent video, voicing his opinion on the potential for a smaller block size. He was clearly against it, and he even said that he would dump the Bitcoins he presently has if this proposal becomes real. The video continues, as Ver says, “I really really hope that Luke Jr. and all these other guys lower the BTC block size to 300 kilobytes if they do, I will sell even more of my BTC. A lot more. Maybe, I would even sell all of it at that point. Absolute Insanity.” A developer for Bitcoin Cash, Gabriel Cardona, was also in the YouTube video, and agreed with Ver’s opposition to Dashjr’s plan. However, he took a different road, adding that the change in the block size would have a negative effect on the experience of the user. Cardona added, “The crazy mistake of shrinking the blocks, the mistake of, depending on the lighting network as a scaling solution, is that it’s just a poor user experience and there are solutions that are superior. And that’s just a fundamental misunderstanding on a deep level.” That does not mean that everyone is against reducing the block size. John Carvalho, who is known as Bitcoin Error Log, tweeted that the reduction would make sense for the Lightning Network. He even said he would run the soft fork. In his tweet, he said, “I agree with @LukeDashjr that the block size should be smaller. I feel more confident to say it now that we have LN making strides. I’ll run the soft fork.” Not long after, co-owner of Bitcoin.org and Bitcointalk.org, Cobra, said that he was against the shrinkage, adding that soft forks like this one are “contentious.” Responding to Carvalho, he tweeted, “Stop this madness! Last thing Bitcoin needs is yet more contentious forks in this key year for adoption! A soft fork to “reduce the block size” is a hard fork in all but name. This will split off from the established consensus, cause massive drama, and damage trust in Bitcoin.” Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 18th)
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Bitcoin Cash [BCH]: Roger Ver promises to sell his Bitcoins if the block size drops to 300KB

The debate around the block size of Bitcoin has long been a contentious topic for the Bitcoin community and has even led to divisive hardforks, with Bitcoin Cash [BCH] and Bitcoin [SV] being prominent examples. Luke Dashjr, a Bitcoin Core Developer who recently fronted the idea of a decrease in Bitcoin [BTC] block size to 300KB, has sparked a heated debate in the community, leading to several influencers vehemently voicing their opinion. He tweeted, “There is never any guarantee. We need to reduce the block size just to have a *realistic hope* of it remaining feasible and *becoming practical again*. The blockchain is *already* bigger than most people are willing to tolerate, and the situation is getting worse and worse.” Bitcoin Jesus, Roger Ver, CEO of Bitcoin.com and major BCH proponent recently stated his opposition to Dashjr’s proposal on the latest episode of Bitcoin.com on YouTube. Ver was noticeably opposed to Dashjr’s 300 KB idea and even stated that he would go as far as dumping his held Bitcoins if this proposal was implemented. In the video, Roger Ver went on to say, “I really really hope that Luke Jr. and all these other guys lower the BTC block size to 300 kilobytes if they do I will sell even more of my BTC. A lot more. Maybe, I would even sell all of it at that point. Absolute Insanity.” Gabriel Cardona, a Bitcoin Cash developer and the man behind Badger Wallet and Bitbox, also featured in the aforementioned video and opposed Dashjr’s idea. Cardona’s argument against the reduction of the block size was that it would have a detrimental effect on user experience. In his own words, “The crazy mistake of shrinking the blocks, the mistake of, depending on the lighting network as a scaling solution, is that it’s just a poor user experience and there are solutions that are superior. And that’s just a fundamental misunderstanding on a deep level.” On the other side, a firm advocate of the shrinkage solution is John Carvalho, better known in the cryptocurrency community as Bitcoin Error Log. Via a tweet, he said that the shrinkage would make sense because of the Lightning Network, and added that he will run the soft fork. His tweet read, “I agree with @LukeDashjr that the block size should be smaller. I feel more confidence to say it now that we have LN making strides. I’ll run the soft fork. However, Cobra, the co-owner of Bitcoin.org and Bitcointalk.org also came out in vehement opposition to the idea of shrinkage, calling such soft forks ‘contentious.’ In response to the above tweet by Bitcoin Error Log, Cobra tweeted, “Stop this madness! Last thing Bitcoin needs is yet more contentious forks in this key year for adoption! A soft fork to “reduce the block size” is a hard fork in all but name. This will split off from the established consensus, cause massive drama, and damage trust in Bitcoin.” The post Bitcoin Cash [BCH]: Roger Ver promises to sell his Bitcoins if the block size drops to 300KB appeared first on AMBCrypto.
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Bitcoin Cash [BCH]: Roger Ver pushes for the release of Silk Road’s Ross Ulbricht

Ross Ulbricht, the man behind Silk Road is the protagonist of a debate that has divided the cryptocurrency community yet again. Bitcoin Cash [BCH]’s Roger Ver, also the CEO of Bitcoin.com and popularly referred to as Bitcoin Jesus has been a long supporter of “free-market” ideals (Something Silk Road claimed to have run on) and the use of cryptocurrencies for the same. He recently reaffirmed his support for Ulbricht, mailing him a letter advocating the same. Tweeting on 17 February, Ver said that he had mailed a letter to the United States’ Penitentiary in Tuscon, Arizona where Ulbricht is currently serving a double life sentence, without parole. The Bitcoin.com CEO did not specify the contents of the letter, but voiced his support for Ulbricht and added a link to the website that advocates for his release: freeross.org. His tweet in full read, “I sent a letter to Ross Ulbricht, and you should too. freeross.org  #FreeRoss #Silkroad” The Ross Ulbricht issue is one of the most divisive issues within the cryptocurrency community, with some advocating free market principles and some citing the illegality of the articles sold on the ‘marketplace.’ Craig S Wright, the Chief Scientist at nChain and spearhead of the Bitcoin SV [BSV] project firmly placed himself opposed to Ver’s point, in both the BCH hardfork debate back in November 2018 as well as on the Ulbricht issue. In an 8 February blog posted by Wright via Medium, he voiced his opposition for what he described as ‘criminal markets.’ He likened Ross Ulbricht and Silk Road to WikiLeaks and Julian Assange, calling the duo, ‘predators.’ Wright further added that the case of Silk Road,was something Bitcoin should make, ‘more difficult,’ and not one it should facilitate. His blog, which was titled, ‘Careful what you wish for…’ read, “I do not like Wikileaks, and I have never been a fan of Assange’s methods. More importantly, I am strongly opposed to criminal markets and bucket shops. Ross Ulbricht and others like him are criminals. They are not freedom fighters, they are not libertarians. They simply are predators, and they are all that Bitcoin was designed to make far more difficult.” The topic of Ulbricht was also discussed by Roger Ver and Gabriel Cardona in Bitcoin.com’s latest episode on YouTube. The BCH proponents were discussing the recently concluded Anarchapulco 2019 Festival, which featured Lyn Ulbricht, Ross Ulbricht’s mother. In the video, Ver described Ross Ulbricht as, “Basically, Ross Ulbricht is the person that made Bitcoin start to become popular to being with. He made a useful platform that people started to use. Silk Road was useful, so, people started to use it and that’s what kicked-off this whole ecosystem.” Ver and Cardona also stated that the Bitcoins that were seized and crowd-sold from Silk Road were primarily purchased by Tim Draper, the American venture capitalist. In light of the same, Ver appealed to Draper and the larger community to push for Ulbricht’s release, “Tim Draper, if you happen to see this, you profited greatly from the Silk Road coins that you bought. Help out Ross, right, this guy does not deserve to die in prison.” Users on Twitter were however split on this topic. @XrpBro commented, “Didn’t he order murders? He should be free? Why?” Zone Zero Apps further added, “Why? He is a criminal. If not caught, he would still be selling drugs and weapons….” However, @Russell voiced his support for Ulbricht, stating, “They’re never going to let Ross free. Instead of spending so much time and money on that, we should be taking care of his family and others who are in desperate situations that can be helped. @rogerkver @Free_Ross #Silkroad” The post Bitcoin Cash [BCH]: Roger Ver pushes for the release of Silk Road’s Ross Ulbricht appeared first on AMBCrypto.
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Roger Ver news by Finrazor

DIGEST

This week, the reddit community has (not) stopped waiting for BCH fork. Anyway, we're closely watching what is happening, and giving you the easiest opportunity to express your opinion in the selected hottest discussions

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DIGEST

This week, Redditors not only followed the jumps of the rates, but also discussed such sign events as: Roger Ver talks about US Government, BCH founder tries to convey the importance of Bitcoin Cash, more businesses are switching to accepting cryptocurrencies, Fidelity takes a step forward… All that hot threads you can read in our Reddit-digest

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OPINION

BCH, we need to talk: what can be the main problem

'Bitcoin Cash may be hard forked in November. Two groups of developers can't agree on its features, releasing their own clients, Bitcoin ABC and Bitcoin SV, incompatible with previous software.' Two coins, two original Satoshi visions. Which one is 'truest'? Will both of them qualify as the vision?

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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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