Traditional banks wary of working with crypto exchanges

Traditional banks wary of working with crypto exchanges

Twitch competes with eBay, the UK monitors exchanges, EOS tops the rating, Coinhive users speak up, McAfee remains bullish, Bitmain can have 51% of network hashrate

  • Claiming itself as an eBay-like platform, Rare Bits raised $6 million from a sequence A funding round directed by Spark Money, Twitch CEO Emmett Shear, and founder Justin Kan.
  • British MPs are concerned over the recent crypto exchanges hacks. Iqbal Gandham, the chairman of CryptoUK, has stated that they request their members to store at least 90% of their virtual funds offline to protect them against hacks. He added that ‘security is improving’.
  • China has released the second edition of its state-endorsed cryptocurrency and blockchain ratings, placing Chinese altcoin EOS top of the list, Ethereum 2nd, and Bitcoin 17th.
  • The Japanese police have been actively investigating website owners using programs such as Coinhive to mine cryptocurrencies without their site visitors’ consent, which is unfair according to Coinhive users.
  • For John McAfee, Bitcoin’s behavior is still bullish, which could make it possible to predict a recovery in its prices. However, in his previous prediction, he talked about a value of 15K by the end of June, which is unlikely to be met.
  • Bitmain has mined over 42% of all Bitcoin blocks recently giving rise to fears that the company could soon have control over the 51% threshold necessary for a network attack.

BTC

3,992 USD
0.10%

EOS

3.68 USD
0.27%

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Bitcoin [BTC] and Bitcoin Cash [BCH] no longer payment options on streaming site Twitch

Twitch, the popular live streaming video platform, quietly removed the option to pay using Bitcoin [BTC] and Bitcoin Cash [BCH] from its platform. This piece of negative adoption flies in the face of a wave of crypto-adoption in several industries. Initially spotted by a member of Bitcoin’s Reddit community, the concerned user pointed out that subscriptions could not be paid for via virtual currencies. StreamLabs, a broadcasting software for live stream management, also removed the option to pay with virtual currencies. According to the Reddit post, the video streaming service was facilitating crypto payments through the Bitcoin payment service, BitPay. The post added, “They removed it in the last couple of weeks as a payment method for all countries. Negative adoption strikes again unfortunately.” Given below is an Imgur post detailing a user’s subscription cancellation, after he paid for it using Bitcoin Cash, Source: Imgur The development was met by a wave of disapproval against Twitch, with some calling for a boycott of the streaming service. While many have speculated about the reasons behind this development, the most realistic seemed to be a lack of awareness about the cryptocurrency payment option and its low transaction volume. Some users called this lack of awareness a “vicious cycle,” where companies introduce a cryptocurrency payment option quietly, without notifying the community. As transaction volume drops, the same option is then quietly removed. In May 2018, Twitch began accepting payments in cryptocurrencies. Initially, a slew of coins such as Bitcoin, Bitcoin Cash, Ethereum [ETH] and Litecoin [LTC] were accepted. The larger implications of this delisting must be noted. Twitch is a subsidiary of the e-commerce behemoth, Amazon, following the latter’s acquisition of the former in 2014 for around $950 million. As of February 2018, the video streaming service had 2.2 million broadcasters with 15 million unique viewers a day, and 140 million a month. Other notable websites that removed or suspended the cryptocurrency payment option from their respective platforms recently include, Expedia, the travel booking site and Chess.com, the online chess-portal. Bitcoin’s Reddit community was enraged by Twitch’s quiet listing and delisting of the crypto-payment option. SQLoverride stated, “With so many social platforms shadow banning and demonetizing, the conspiracy side of me thinks maybe it was done because it is more difficult to demonetize someone using crypto.” Many questioned the existence of the crypto-option itself, with anonymustanonymust asking, “Did the have Bitcoin Cash or Bitcoin (Core) on the website?” The boycott was advocated by TAPEWlRM, “Unsubbed and shut down Twitch stream. Bad call guys.” The post Bitcoin [BTC] and Bitcoin Cash [BCH] no longer payment options on streaming site Twitch appeared first on AMBCrypto.
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EOS Price Prediction Today: Daily (EOS) Value Forecast – March 25

The crypto’s price is now trading at $3.63 as at the time of writing. On the upside, if the bulls break above the EMAs, the bulls will retest the $3.80 resistance level. EOS/USD Medium-term Trend: Bearish Resistance levels: $ 6, $7, $8. Support levels: $3, $2, $1. Last week the price of EOS was in […]
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