India’s Second Largest Company, Reliance Industries, to Incorporate Blockchain All Across the Country

During 42nd Annual General Meeting of Reliance Jio Infocomm Limited, an Indian mobile network operator fully owned by Reliance Industries, Founder, Shri Mukesh D. Ambani has shared how firm be investing in three next generation technologies’, among which includes focus depicted in blockchain technology, edge computing and virtual and mixed reality content […]
: bitcoinexchangeguide
India’s Second Largest Company, Reliance Industries, to Incorporate Blockchain All Across the Country

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Notes from second Dash Investment Foundation meeting

Date: August 5, 2019

In attendance: Amanda, Casey, Glenn, Hytham, , Mike

HOUSEKEEPING:

  • Storage mechanism for funds has reviewed
  • Options to minimize volatility risk have been explored
  • Responsibility for of remaining necessary financial accounts has been assigned
  • KYC documentation for notarization has been solicited from supervisors
  • An increase in day-to-day correspondence via email & our digital workspace has been agreed upon to decrease our reliance on intermittent calls

PERSONNEL:

  • Expected time contributions from Glenn and Casey have been discussed
  • An advisory call with Ryan Taylor to help refine the DIF’s operational structure and workflow has been initiated

IDENTITY:

  • Creation of the DIF’s website has begun
  • Domain name and relevant social media handles have been secured

CORE OPERATIONS:

  • Consensus rules for vote-based decisions within the DIF have been discussed
  • A collaborative document of the DIF’s living constitution be refined the coming days and weeks
  • The constitution will be made public either prior to or in tandem with the DIF’s investment-related proposal to the Dash network

.

you, everyone, for remaining as excited as we are about the intended benefits of the DIF as it pertains to Dash ownership. We’re looking forward to becoming fully operational.

by /u/Amanda_B_Johnson
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Source: dashpay
Notes from second Dash Investment Foundation meeting

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Second Litecoin Halving Ends With LTC Price Rallying Past $100

Coinspeaker
Second Litecoin Halving Ends With LTC Price Rallying Past $100

Litecoin halving ended with 75% of Litecoin mined and the price of LTC at $99.6.

Yesterday Litecoin dropped more than 18%, falling out of #4 market cap spot. However, after the halving, it came back to its fourth position with the growth of the huge 14.63 percent to, at the time of writing, rising price of $105.59.

Four years have passed since Litecoin’ -ever halving. From then on, the overall price went up more than 20 times getting its investors pretty good returns. What’ more impressive is the growth in hashrate. The network has done an impressive 360 times better meaning that the yearly increase in security is pretty high as well.

Its creator Charlie Lee reacted to a Fed’s Cutting saying:

Data from CoinMarketCap showed Litecoin trading at around $97.68 Monday, 20 minutes before the halving.

The Litecoin code includes a rule that slashes every miners’ reward by half. Presently, the mining reward is set at 25 Litecoins (approximately $2,500) per block. But following the neoteric halving event, it will be cut down to 12.5 Litecoins (approximately $1,200) per block.

Some analysts were pretty pessimistic noting that Litecoin investors may be very disappointed by the crypto’s price action in the coming days and weeks, as it has previously faced significant selling pressure following its halving event

It seems that worries were definitely not in order and that Charlie Lee was right when said that potentially, a few miners might turn off their machines. But after a few days, Lee claims, the mining difficulty will readjust and everything will be back to normal.

What seemed like an assurance from the recent in market cap, Lee pointed out that the halving phase compels users to trade depending on their belief of pump, thus making the market “more volatile around that area.” Overall, he shared his belief that “the halving will happen and nothing will go wrong.”

Halvings are always very closely monitored by investors, as the consequent reduction in mining rewards affects the profitability and it can result in a knock-on effect on the price. As per the supply and demand theory, halvings should drive up the price of the cryptocurrency.

As they receive fewer coins per block solved, miners stop mining until the work once again becomes profitable. As fewer coins enter circulation, the price consequently goes up, overtaking the supply. Although this sounds like a sure-fire win for investors, halvings can bring about even greater instability to an already unstable market.

Litecoin, which traded at $30 on at the very beginning of this year, ended the first quarter at $61, what represents more than a 100 percent gain. That was LTC’s best first-quarter performance on record and the cryptocurrency economized out huge gains in the first three months of this year in spite of the fact that the Bitcoin was pretty much flat.

Essentially, LTC broke into a bull market well before Bitcoin started its bullish trend change, passing through the key resistance at $4,236 on April 2. Prices went on to hit highs above $140 in June before falling back to $80 earlier this month.

Second Litecoin Halving Ends With LTC Price Rallying Past $100


Source: coinspeaker
Second Litecoin Halving Ends With LTC Price Rallying Past 0

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Bitcoin Reaches The Second Inning As Bakkt Launch Nears

Bitcoin Reaches


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the second Inning as the launch of the crypto exchange bakkt is nearing since it is considered as the major driver for institutional crypto adoption and the bull market. In the coming altcoin news today, we take a closer look at the cryptocurrency and what the Bakkt launch bring us.

Bakkt supposed to be launched already but as we can see, it is still pending. This increases the chances that the 2019 bitcoin bull run has just started since the bitcoin exchange company is boosting the Wall Street companies with the promise of uncorrelated returns to the stock market. The launch has taken longer than expected but the work is ongoing. The User acceptance  testing (UAT) is scheduled to begin soon according to the exchange and a Fundstrat research report:

 “Bakkt’ launch is expected late in the current quarter.”

 “Bakkt could be a huge catalyst for institutional participation in the crypto market.”


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Bakkt hosted a summit this week at the NYSE and the company behind it-ICE stated that the things are looking quite bullish for the bitcoin cryptocurrency in the latter part of the year. According to the Fundstrat note, there is a robust turnout at the conference of more than 100 investors. The Commodity Futures Trading Commission which is the most important agency in the launch of Bakkt’s bitcoin futures contracts also had representation. Fundstrat’s reports show that the CFTC  is seeing massive growth in demand and interest for Bitcoin futures from the Public. The bitcoin futures contracts by the CME and CBOE are still considered as the mark of the beginning of the crypto bull market. This is why bitcoin reaches the second inning since soon it will be clear whether the history will repeat itself again.

As the latest cryptocurrency news report, Ari Paul, the CIO of BlockTowerCapital participates in the Bakkt event and is helping with the new addition of users into space. The report also shows that Paul believes that retail adoption will be massive once the app and UI make crypto on-ramps safe and easy to use as PayPal.

 

The post Bitcoin Reaches The Second Inning As Bakkt Launch Nears appeared on DC Forecasts – Leading Digital Currencies.


: dcforecasts
Bitcoin Reaches The Second Inning As Bakkt Launch Nears

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Congress to Hold Second Hearing on Libra and Crypto

Facebook Libra US Senate Hearing

Many are still attributing US Treasury Secretary’ comments on Libra and bitcoin to its rapid decline over past few days. In reality, they may have sparked selloff but market correction has been overdue for some time.


Congress to Convene Again on Libra

A second hearing has been scheduled for today, July 17. The focus will be on Facebook’s proposed crypto project Calibra and its impact on consumers, investors and the American financial system. The meeting is a follow up on a suggested bill to keep big tech out of finance.

US lawmakers are clearly concerned about Facebook’s dominance with data and how that will extend into finances. Chief Executive Officer of Calibra, David Marcus will be in the hot seat again as he attempts to defend the grand aspirations of the world’s largest web platform.

Also in attendance will be CoinShares Chief Strategy Officer, Meltem Demirors who has been working in the crypto industry 2015. Fundstrat’s Tom Lee sees this as a good thing for the industry adding that she is ‘easily one of the most capable people to represent crypto’.

“Heads-up that #Congress holding second of hearings Wed 7/17 on Crypto.
– among those giving testimony will be @Melt_Dem Chief Strategy Officer of @CoinSharesCo
– likely one of most dynamic interactions with Congress”

The fact that there is a crypto industry rep there is a good signal as Marcus is likely to be Facebook focused. There has been mounting pressure on the social media giant to demonstrate that it can handle global financial transactions securely. Considering its track record with data, it is no surprise that regulators are concerned about the possible implications of Zuckerberg and his consortium of tech corporations controlling the monetary transactions of potentially billions of people.

According to Business Insider, a researcher at the anti-monopoly think tank the Open Markets Institute, Matt Stoller, wrote:

“Monetary policy might end up being set for areas all over the world by a board of largely Western companies located in California with a pot of hard currency-denominated assets in a potentially unregulated Swiss reserve, rather than by democratically accountable sovereign governments,”

Many nations including Russia, India, and China share that sentiment, with the latter two already banning the product before it has even been launched.

Ultimately it will be for the US Congress to decide and a blockade of Facebook’s highly centralized cryptocurrency may not be a bad thing for the rest of the decentralized digital assets currently on the market.

Will Congress come down heavily on Libra today? Add your thoughts below.


Images via Shutterstock, Twitter: @fundstrat

The post Congress to Hold Second Hearing on Libra and Crypto appeared on Bitcoinist.com.


: bitcoinist
Congress to Hold Second Hearing on Libra and Crypto

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Second Canadian town set to accept tax payments in Bitcoin

Second Canadian town set to accept tax payments in Bitcoin by /u/cryptohoney
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Second Canadian town set to accept tax payments in Bitcoin

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Second “Drop Gold, Buy Bitcoin” Ad on The Way

bitcoin better than gold

Do you remember Grayscale Investment’ “Drop Gold, Buy ” ad that went viral on social media? Well, Barry Silbert, founder and CEO of crypto asset manager in the world, announced that a second TV ad is in production right now.


Second “DropGold” Ad Got the Green Light

If you happen to keep gold in a depository account or at home, it’s to get rid of it and buy Bitcoin instead. This might be the message of the second TV ad by Grayscale Investments for its flagship product – Grayscale Bitcoin Trust. The commercial quite funny:

On Tuesday, Barry Silbert, who is also founder and CEO of Digital Currency Group (DCG), tweeted that the production of the second ad from the Drop Gold series had been approved and already started.

Ironically, Silbert cc’ed the London-based World Gold Council in his tweet. The latter is the market development organization for the gold industry.

However, as many Twitter commentators suggested, it’s a bit unfair to bash gold while promoting Bitcoin adoption and forget about fiat currencies. Gold is an investment that preserves value and is used to hedge against fiat money’s inflation risks. Bitcoin itself is called digital gold and was launched as a result of the financial crisis in 2008.

Interestingly, gold and Bitcoin have demonstrated relatively similar performances during the last 30 days, as they were both playing the Sino-US trade war card.

Grayscale Bitcoin Trust is On Fire Amid Rally

Grayscale Bitcoin Trust (GBTC) has gained over 190% in the second quarter of this year, the WSJ reported at the end of June, citing data from Morningstar. Thus, GBTC has been by far the best performer among all the funds and other mainstream investment instruments. For comparison, gold futures gained 9%, and the S&P 500 index added 3.8% for the same period. In fact, GBTC outperformed all the funds for the entire first half of 2019.

Grayscale has invested in other cryptocurrencies, including Ethereum, Ethereum Classic, Litecoin, Bitcoin Cash, Stellar, XRP and Zcash. Currently, the firm has $2.7 billion in total assets under management.

Do you think Grayscale’s upcoming TV ad will be as as the first one? Share your thoughts in the comments section!


Images courtesy of Shutterstock, Twitter, Grayscale, Investing.com

The post Second “Drop Gold, Buy Bitcoin” Ad on The Way appeared first on Bitcoinist.com.


: bitcoinist
Second “Drop Gold, Buy Bitcoin” Ad on The Way

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Second-largest Polish cryptocurrency exchange BitMarket shuts down

BitMarket, one of the largest cryptocurrency exchanges in Poland, shut down citing liquidity loss. More information about “further steps” the exchange take be available ‘soon,’  according to the company’ official blog post.

-largest exchange in Poland closes down

In an unexpected move that surprised most of its users, Polish cryptocurrency exchange BitMarket shut down on July 8. The company cited a loss of liquidity as the reason why it was closing down but failed to provide any additional information.

“Dear Users, We regret to inform you that due to the loss of liquidity, since 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps,” the notification on the exchange’s website said.

With an average daily trading volume of around $850,000, BitMarket was the second-largest cryptocurrency exchange in Poland. The exchange-traded pairs denoted in Polish zloty (PLN)—/PLN, ETH/PLN, XRP/PLN, and BTG/PLN, and /EUR.

It is still unclear how trading on the exchange will continue. Some users were reportedly able to trade on the platform with their API keys.

Sources reveal exchange holders knew a shutdown could happen

Additional research revealed that IQ Partners S.A., one of the stakeholders involved with BitMarket, were informed about the possibility of a shutdown at least a day before the exchange made the announcement.

A translation of the report from IQ Partners showed that the company received information from the managing board of its subsidiary, the Estonia-based Gyptrade, that BitMarket would have to shut down soon. The documents showed that BitMarket was unable to settle liabilities by its operator, Kvadratco Services Limited.

Gyptrade, which was set to takeover BitMarket, said it won’t be able to complete the process. The company also reportedly filed a complaint with the district prosecutors in the Polish town of Olsztyn, accusing BitMarket of committing fraud.

And while the shutdown came as a surprise, several Reddit users said that, in hindsight, there were several red flags leading to the closing. According to user OdoBanks, the exchange forced users to change both their passwords and their API keys without giving any explanation as to why these changes were necessary.

BitMarket also disabled some withdrawals, requiring certain users to comply with “additional” KYC measures and state that they were using the exchange to purchase cryptocurrencies “as an investment.”

The post Second-largest Polish cryptocurrency exchange BitMarket shuts down appeared first on CryptoSlate.


Source: cryptoslate
Second-largest Polish cryptocurrency exchange BitMarket shuts down

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