25 Million Wallets and Beyond

Today, we are making history together.

We’re thrilled to share that we are celebrating 25 million wallets today, a huge milestone not only for us at Blockchain, but for our broader community. We’re thrilled and humbled to have earned your trust over the last five years as we strive to create a more open, accessible, and fair financial future for the world.

With 25 million wallets, we’re building a strong, safe community of digital currency enthusiasts. This global community did not materialize overnight, and we truly appreciate your growing with us these past few years as we make our way to the moon.

At 25 million wallets, we now have a larger community than that of TD Ameritrade, Charles Schwab, and Ally Bank combined. You’ve made us the world’s most popular cryptocurrency wallet, and for that, we are eternally grateful.

Blockchain began with a simple idea: to make Bitcoin transactions and the Bitcoin economy easier to understand and use. We’ve experienced exponential growth ever since we first launched in 2013 — in the first 18 months of our existence alone, we expanded by a whopping 2100% from 100,000 to 3 million wallets.

25M-Growth-3

We will never stop innovating in order to create a brighter financial future for folks like you around the world. And with your trust and support, we’re excited for the next 25 million.

Onwards!

Source: Blockchain blog




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Ripple Wants People to Stop Calling Its Coin ‘Ripple’

Ripple Wants People to Stop Calling Its Coin ‘Ripple’

What’s the difference between Ripple the company and ripple (XRP) the cryptocurrency? Many people would assert “Not a lot” given that the former owns most of the latter and its founders were responsible for creating ripple in the first place. Ripple the company has other ideas though, and is on a mission to separate the two ripples – big and small – once and for all.

Also read: May Breaks 2018’s Down-Trend in Monthly Total Raised by ICOs

The Disambiguation of Ripple and XRP

Ripple Wants People to Stop Calling Its Coin ‘Ripple’For several months, Ripple has been on a mission to dispel the notion that it is responsible for the XRP currency it issues. Just as Prince once changed himself into a symbol, the project would like to turn its currency into a symbol and keep it that way. This is despite the fact that ‘XRP’ is simply a currency ticker derived from an abbreviation of the word ‘ripple’, just as XMR is an abbreviation of monero. To mark the distinction, a new logo has been proposed that is clean, minimalist and, tellingly, looks nothing like that of Ripple.

There’s even a community-run Twitter account for the new XRP symbol and Github which explains: “In order for XRP to be perceived as a ‘currency,’ it needs its own symbol. Just like the dollar sign ‘$,’ XRP needs a universal sign that denotes units of XRP. The current logo being used works great when referencing the company, and it should not be changed, but a character should be created to represent actual units of the digital asset.” The final logo has yet to be decided, but whatever version the community plumps for, it will look very different from the current shared logo of the company and coin.

Ripple Wants People to Stop Calling Its Coin ‘Ripple’
One of the proposed new logos for XRP

Why the Rebrand?

It has been theorized that the company is seeking to distance itself from its eponymous currency in  order to “desecuritize” it. The likelihood of XRP being a security, given the fact that Ripple has a majority holding, is strong. In the event of XRP being classified as such by the SEC it would have a major impact on XRP’s price and its availability on US exchanges. Given the foregoing, it makes sense for the company to emphasize the distinction between the company and XRP. It is likely to encounter significant difficulties, however, in convincing people that this is the case.

When Are We Decentralized Yet creator Jackson Palmer was petitioned to start referring to Ripple’s cryptocurrency as XRP, he issued a strong response:

Ripple Wants People to Stop Calling Its Coin ‘Ripple’

Semantics or Separate Things?

The case for why the company and XRP are separate entities, according to the company, revolves around the fact that the XRP ledger is open source, and thus any company can use it for their own purposes. While this is true, third party development has been few and far between, and the vast majority of XRP’s code commits have been performed by staffers. If the company can successfully separate itself from its currency, it is possible that the XRP ledger could become more attractive to companies wishing to utilize it for their own purposes. It seems unlikely, however, that the XRP ledger, for all its efficiencies, will become the Hyperledger of enterprise.

Ripple Wants People to Stop Calling Its Coin ‘Ripple’
Other community proposed logos for XRP

As cryptocurrency critic Preston Byrne has pointed out, the notion that “There’s not a direct connection between Ripple the company and XRP”, as stated by the company’s Director of Regulatory Regulations Ryan Zagone, simply doesn’t fly. The connections between the two are written all over the website, and every other third party news source. The Wikipedia page for Ripple (payment protocol) points out that “The network can operate without the Ripple company”, but evidence suggests that it would struggle to function if the company bowed out. For one thing, operating an XRP node requires obtaining permission from one of Ripple.com’s servers.

With 55 billion XRP locked in the company vaults, the simplest way for Ripple to rid itself of association with the cryptocurrency would be to burn the bulk of its supply of XRP. That wouldn’t look too good on its balance sheet though, and thus the campaign to rebrand ripple as XRP intensifies.

Do you think Ripple and XRP should be regarded as separate entities? Let us know in the comments section below.


Images courtesy of Shutterstock, Ripple, and XRP Symbol Twitter.


Need to calculate your bitcoin holdings? Check our tools section.

The post Ripple Wants People to Stop Calling Its Coin ‘Ripple’ appeared first on Bitcoin News.

Source: Bitcoin News




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Regulations Round-Up: SEC hits Titanium, Israeli Crypto Law Delayed, BTC Trading Legal for Chinese Citizens

Regulations Round-Up: SEC hits Titanium, Israeli Crypto Law Delayed, BTC Trading Legal for Chinese Citizens

In recent regulatory news, the United States Securities and Exchange Commission (SEC) has taken action against the Titanium Blockchain initial coin offering (ICO) for allegedly making false claims; the enactment of Israel’s cryptocurrency regulations have been delayed; and a Chinese professor has discussed the current legal status of bitcoin trading in China, asserting that it is currently not illegal for Chinese citizen to trade bitcoin.

Also Read: May Breaks 2018’s Down-Trend in Monthly Total Raised by ICOs

SEC Ceases Titanium Blockchain ICO for Elaborate False Claims

Regulations Round-Up: SEC hits Titanium, Israeli Crypto Law Delayed, BTC Trading Legal for Chinese CitizensWith North American regulators’ ‘Operation Cryptosweep‘ in high gear, news of regulatory action being taken against suspect initial coin offerings and investment schemes appears to break across the cryptocurrency world daily. The latest target of action from the United States SEC is Titanium Blockchain Infrastructure Services – which has become subject of a court order halting its ICO due to allegedly making fraudulent claims of business relationships with well-known businesses and the U.S. Federal Reserve.

An SEC press release states that the commission has “obtained a court order halting an ongoing fraud involving an initial coin offering (ICO) that raised as much as $21 million from investors in and outside the U.S.,” adding that the court also approved an emergency asset freeze and the appointment of a receiver for Titanium Blockchain Infrastructure Services Inc., the firm behind the alleged scheme.

The SEC complaint accuses the company’s president, Michael Alan Stollery, a/k/a Michael Stollaire, of having “lied about business relationships with the Federal Reserve and dozens of well-known firms, including PayPal, Verizon, Boeing, and The Walt Disney Company.”

Robert Cohen, the Chief of the SEC Enforcement Division’s Cyber Unit, stated: “This ICO was based on a social media marketing blitz that allegedly deceived investors with purely fictional claims of business prospects. Having filed multiple cases involving allegedly fraudulent ICOs, we again encourage investors to be especially cautious when considering these as investments.”

Israeli Cryptocurrency Regulations Delayed

Regulations Round-Up: SEC hits Titanium, Israeli Crypto Law Delayed, BTC Trading Legal for Chinese CitizensThe enactment of Israel’s cryptocurrency regulations, originally scheduled for this Friday, has been delayed until October.

Following last week’s publishing of a draft law pertaining to money laundering that included specific provisions pertaining to virtual currencies, Israel’s finance minister, Moshe, Kahlon, abruptly requested that the law not be passed until the bill is ratified.

“The existing ordinance for the prohibition of money laundering will lapse with the passing of the new law. The process of installing the new law, which includes public hearings, will take time. Consequently, there will be a period in which there will be no active legal provision concerning this matter, which will lead to a lack of clarity regarding the identification and reporting obligations imposed by the order on [the] prohibition of money laundering,” Mr. Kahlon said.

Manny Rosenfield, the head of the Israeli Bitcoin Association, has described the delay of the law’s passing as a significant setback for the country’s cryptocurrency industry. “The postponement of the law that deals with digital currencies will leave start-ups in the same situation, and will cause a situation in which these companies will have to think twice about whether or not to stay in Israel […] This is a blow that will hamper the efforts of Israel to become a leader in a rapidly developing field of technology,” Mr. Rosenfield said.

“It’s Not Illegal for the Public to Trade BTC” – Chinese Academic

Regulations Round-Up: SEC hits Titanium, Israeli Crypto Law Delayed, BTC Trading Legal for Chinese CitizensWhilst speaking at The 2018 China International Big Data Industry Expo in Guiyang, Liu Xiaolei, a professor at the Guanghua School of Management of Peking University, argued that bitcoin trading is not currently an illegal activity for Chinese citizens to undertake, despite the China’s prohibition on cryptocurrency exchanges.

According to a rough translation, Liu Xiaolei stated of the legality of China’s citizenry trading bitcoin: “In terms of supervision, the state [has] not [made] such a gesture [so as] to say it is not allowed.” Liu Xiaolei added that “everyone, especially the common people who do not understand this new technology […] should be reminded […] not to follow suit, because it is still a very risky investment.”

Liu Xiaolei also argued that maintaining a ban on P2P cryptocurrencies is not practically viable.

Which jurisdiction do you think has adopted the most appropriate cryptocurrency regulations? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


Need to calculate your bitcoin holdings? Check our tools section.

The post Regulations Round-Up: SEC hits Titanium, Israeli Crypto Law Delayed, BTC Trading Legal for Chinese Citizens appeared first on Bitcoin News.

Source: Bitcoin News




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Canadian Crypto Exchanges Push for Greater Regulatory Clarity

Canadian Crypto Exchanges Push for Greater Regulatory Clarity

Representatives of Canada’s cryptocurrency industry are urging lawmakers to provide greater clarity regarding the regulatory obligations of cryptocurrency exchanges. In response to the absence of clear guidelines, a number of Canadian virtual currency exchanges have taken it upon themselves to voluntary register and report to Canada’s financial regulator.

Also Read: Markets Update: Volume Rankings Report for May 2018 – EOS Dominates Leading Exchanges

Canadian Crypto Exchanges Push for Greater Regulatory Clarity

Canadian Crypto Exchanges Push for Greater Regulatory ClarityCanadian media has reported that a number of local cryptocurrency proponents are calling for greater clarity regarding the regulatory apparatus governing the operations of virtual currency exchanges.

Joseph Weinberg of Shyft, a company providing identification verification services using blockchain technology, has argued that exchanges have been left in the dark as to their regulatory obligations. “Until you have regulators come out and say, ‘This is what you have to do,’ as an exchange, you’re kind of guessing and hoping for the best, which is a big problem,” Mr. Weinberg said.

Cole Diamond, the chief executive of Toronto-based cryptocurrency exchange, Coinsquare, stated: “We want to be regulated because ultimately we want to be able to provide certainty to our customers that we’re not some fly-by-night trading platform, that they can trust us.”

Canadian Exchanges Adopt Self-Reporting Practices

Canadian Crypto Exchanges Push for Greater Regulatory ClarityIn the face of stark regulatory uncertainty, several Canadian exchanges have taken it upon themselves voluntarily to report to the Financial Transactions and Reports Analysis Centre of Canada (Fintrac).

Mr. Diamond states that upon initially approaching Fintrac, “they told us we shouldn’t be registered there. We decided to do it anyway because we explained to them we don’t have anywhere else to go. We want to be regulated.”

Despite expecting taking early steps to ensure regulatory compliance will give his exchange a competitive advantage in the long run, Mr. Diamond notes that Coinsquare’s “revenue and trading volume could be at least five-times larger if we did not have an internal compliance regime”

Einstein Exchange CEO Anticipates Early Compliance Will Pay Off Long Term

Canadian Crypto Exchanges Push for Greater Regulatory ClarityVancouver-based Einstein Exchange has also adopted a voluntary reporting regime with Fintrac, in addition to taking measures to minimize the risk of credit card occurring on its platform.

Michael Gokturk, the chief executive of Einstein Exchange, recounts that the exchange was hit with $8.3 billion USD worth of attempted fraud in a single day early into the exchange’s acceptance of credit card payments. “Our system went nuts,” Mr. Gokturk.

Mr. Gokturk added that whilst “It’s so easy to get into this market and it’s so easy to take advantage of the lack of regulation. The best exchanges will welcome regulation and transparency and that’s what we’re trying to do. We welcome it with open arms.”

Do you think that regulators worldwide will soon adopt clear regulatory apparatus for companies operating with cryptocurrencies? Share your thoughts in the comments section below!


Images courtesy of Shuttestock


Need to calculate your bitcoin holdings? Check our tools section.

The post Canadian Crypto Exchanges Push for Greater Regulatory Clarity appeared first on Bitcoin News.

Source: Bitcoin News




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported

 

Low Capitalization, Institutional Exposure Make Crypto Low Risk, Says Dutch Gov’t Report

The CPB Netherlands Bureau for Economic Policy Analysis says crypto poses a low risk to financial stability, cites low trade volumes as reason.

A branch the Dutch government has recently released an economic risk report, claiming that cryptocurrencies present a low risk to financial stability in the country, according a report published on May 29. The report was prepared and published by the CPB Netherlands Bureau for Economic Policy Analysis (CPB).

The CPB states in the report that at the current time, cryptocurrencies pose a low risk to the financial system due to the low level of capitalization, as well as the limited involvement of traditional financial institutions and systems. The CPB separately noted the problems associated with crypto’s use in crime financing, fraud, high crypto market volatility, and the energy consumption of crypto mining.

The report predicts that crypto-related risks will increase with more interaction with government financial institutions. The agency also states that cryptocurrencies are not “money substitutes,” claiming that users generally prefer to hold their crypto instead of using it as an everyday payment method.

The report stressed the need for balanced financial regulation. The CPB compared the risks of a lack of financial regulation equally with strict regulations, claiming that overly harsh measures can increase the activity of “shadow banks.”

The CPB has been tasked with providing a financial risk report at the request of the Parliamentary Committee of Inquiry on Financial Assistance every year since 2012. Affirming the low negative impact of crypto on financial stability, the CPB claimed that the most important financial risks are currently low interest rates and the involved risks of reducing the sustainability of debts on a macroeconomic level.

Earlier this year, a Dutch court recognized Bitcoin (BTC) as a “transferable value,” declaring that the major cryptocurrency “shows characteristics of a property right.” In the case, the court ordered the defendant party to pay a debt in Bitcoin. By the court’s reasoning, since the obligation of the defendant was originally made in BTC, the amount should likewise be paid back.

Source: Coin Telegraph




My current recommendations:

HashFlare for automated Bitcoin cloud mining - Currently ROI in around 60 days only

Bitclub Network allows you to buy mining shares with daily payouts

CCG Mining now offers open end contracts. Bitcoin, Ethereum, Zcash, Litecoin and others

Cointracking keeps track of all your coins automatically. Many exchanges and wallets supported