| submitted by /u/joshuad31
BitPanda, in partnership with GlobalWebIndex, has done an in-depth survey on the identity of the European cryptocurrency holder. Key findings of the study show that both the Swiss and Austrians hold the titles of the highest crypto ownership in Europe At least 7 percent of internet users in Switzerland hold digital currencies. This is one of the highest rates of crypto ownership not only regionally but globally as well.
This statistic, however, does not come as a surprise since the Swiss have been very focused on cryptocurrencies and blockchain. As an illustration, Avenir Suisse, an influential think tank in the mountainous Central European country, has urged the Swiss National Bank (SNB) to work on a cryptocurrency for the nation. In a report titled “Blockchain After the Hype,” the think tank is proposing a blockchain-based type of economic model. Avenir Suisse has consequently, advised the design of a “frank token” run by the SNB.
The Swiss Ahead
Of the Curve
The expert further said that the stable coin has the potential to turn Switzerland into the world’s first “blockchain nation.” Why? The Swiss financial sector would accommodate tokenized securities trading. The “frank token” would also open doors for blockchain implementation in the broader financial industry. This would encourage the emergence of new business models and move the nation ahead of its European peers due to the expansion of more possibilities in the global market.
BitPanda data was sourced from 17 European markets. It shows that digital
currencies are present in 4 percent of all internet users. Consequently, cryptocurrencies are the least
common of all nine investment vehicles tracked in the report. The study
highlights the European crypto holder as a high-income earner, with a specific
technical knowledge set. This crypto investor has a sense of economic
empowerment and is a pursuer of novelty.
CEO of BitPanda, Eric Demuth, said:
“We wanted to demystify the people that shape the cryptocurrency industry. I’m hoping this report will help everyone to understand better who these people are, what their attitudes are, as well as their lifestyle, finance & investment behaviors.”
primary goal was to highlight the behaviors and attitudes that make the
European crypto holder different from any other average investor.
One in Five
Cryptocurrency Holders Are Women
study, for instance, shows that this investor is a risk-taker. They similarly
love technological products and are into privacy. When it comes to
demographics, the average cryptocurrency holder is also young and wealthy.
Investors in gold, also seem to have a higher affinity for crypto investments.
The BitPanda report shows that though the UK ranks 11th in crypto ownership, London has the largest group of crypto holders. The city has three times the average holders rate exceeding Zurich’s percentages.
The level of ownership is also highly influenced by the career of the respondent. Those in banking, engineering, or financial services seem more receptive to digital currencies. There is gender disparity when it comes to crypto investments in Europe. It is only one in five crypto investors, which is female.
an illustration, 21 percent, which is the highest percentage of crypto
ownership is amongst men between the ages of 25 to 34. The crypto investing
women are highly likely to have a university as well as in a well-paying
career. They are also more likely to bankers or in finance. Nevertheless, the
gap between men and women crypto holders is lessening, when compared to older
Bitpanda: The Swiss Are True Cryptocurrency Holders
Whilst cryptocurrency regulation presents a huge headache to certain countries, it presents a huge opportunity to others. But how can a single asset class produce such polarised responses? Could it simply be down to ‘state of mind’?
Missing The Point
On the eighth day, Satoshi Nakamoto created Bitcoin… and very few people even noticed. Throughout the early years of its existence, it gradually began to amass followers through word of mouth. But it was still considered the niche domain of the geek, and nothing for authorities to devote resources to.
Everything changed forever in 2017 when bitcoin price went from $1k to $20k, and Bitcoin itself went from nerdy subculture to front-page news. Some made fortunes, some scammed greedy punters, governments had to do something.
The first thing should probably have been to research and understand exactly what they were dealing with. But that would take too long. Instead, why not just shoehorn this new cryptocurrency thing into existing financial regulations?
Because it isn’t like anything that came before. It’s new and full of potential. And over-zealous regulation could stifle innovation… Oops. Too late.
Ripping Up The Rulebook
Rather than follow the path of the many, adapting existing rules to fit something they were never designed for, some countries took a different track. Countries like Estonia, Malta, and Belarus realized that they didn’t have a rulebook for bitcoin and crypto to rip up, so they could start with a completely blank page.
Unhampered by legacy regulation, these countries were free to create an environment catering specifically for the benefit of their fledgling crypto industries. Imagine that. Being able to make up your own rules, to ensure you get ahead of the field.
Belarusian President Alexander Lukashenko tasked entrepreneur Viktor Prokopenya with developing regulations to boost the country’s tech sector following a meeting in March 2017. Working with local IT firms and lawyers, Prokopenya drafted guidelines to actively promote Belarus’s emerging cryptocurrency ecosystem.
The idea was to create everything from scratch. To make sure that it is free in some of the aspects it needs to be free, and very stringent in other aspects.
So, the trick to regulating cryptocurrency would seem to be designing the regulations specifically for cryptocurrency.
Of course, there are those who believe in a total lack of regulation, and there are certain jurisdictions which provide this. But these also lack certain consumer protections which institutional investors tend to find rather a deal-breaker.
It remains to be seen whether bespoke regulatory approaches such as this will eventually inform global policy on cryptocurrency, or whether they will fall foul of any future global regulation. But for the meantime, small crypto-positive states are seeing large increases in investment and talent.
What do you think about the pro bitcoin and crypto stance of these small nation-states? Share your thoughts in the comments below.
Image via Shutterstock
The post Small Nations Are True Pioneers Of Cryptocurrency Regulation appeared first on Bitcoinist.com.
With the Burlington Royals, you never know where you might find Jack Gethings.
He was the top player in his college conference, now he handles a variety of roles less than two months into his professional career.
He’s truly a Jack-of-all-trades.
Gethings is an infielder who has been used as a second baseman, third baseman and shortstop.
In the season’s early weeks, he was Burlington’s most consistent hitter. He compiled 14 hits in his first 12 games.
“He’s not just (here) to take up a spot on the roster, but can do good things,” Royals manager Chris Widger said.
For Fairfield, Gethings spent two seasons as a third baseman and his final two as a shortstop — with time as a second baseman in collegiate summer action.
“I was able to get a handle on that,” he said of the position.
He was an All-Metro Atlantic Athletic Conference selection as a sophomore, took a slight dip as a junior. But unlike many college players, he said he didn’t have expectations that he would be drafted when he first became eligible.
“I didn’t think about the draft,” he said.
He went off to the Newport Gulls of the New England Collegiate Baseball League last summer, played alongside numerous players — even first-round draftee Kody Hoese of Tulane — and figured he became a better player.
Sure enough, it was a stellar senior season and Gethings became Fairfield’s first MAAC Player of the Year in baseball.
He batted .364 and produced a 25-game hitting streak, helping the Stags to a program-record 35 victories and nearly an automatic berth to the NCAA Tournament (instead a 13-inning loss to Quinnipiac in the MAAC Tournament final).
“I knew I’d have to exceed my potential,” he said in order to be drafted last month. “It was definitely a fun season.”
But June’s draft came and went. Nearly a week passed.
“I was just really hoping someone would give me a chance,” he said. “I thought things were over.”
The three-time member of the All-MAAC academic team began thinking more about pursuing a master’s degree in accounting at Fairfield.
Then a call came from the Kansas City Royals. Scout Casey Fahy, who previously worked in North Carolina, made him an offer. He left the next morning for mini-camp in Surprise, Ariz., before a game with the Arizona Rookie League club and then the assignment to Burlington.
“He’s a great kid to have on your team,” Widger said. “He’s gritty and scrappy. You get that type of effort.”
Gethings, a former youth hockey standout, was named Fairfield’s Male Athlete of the Year, notching 88 hits for the single-season school record on the way to compiling a school-record 271 hits for his career. His 170 runs, 11 triples and 203 games played and started are also top Fairfield marks.
He played in a college conference often overlooked, but said that didn’t matter.
“If you put up the stats and play well enough, people will notice you,” Gethings said.
And that has happened in the past month with the Royals as well.
Cryptocurrency markets are cooling off during the morning’s Asian trading session. The July fourth parties in the US maybe coming to a close but Bitcoin is beating a retreat at the moment, dragging the altcoins into the quagmire once again.
Bitcoin Dumps 6 Percent
The rapid fire recovery back to $12,000 from its 30 percent purge to $9,600 had the Bitcoin bulls dancing again. There were clearly a lot of buyers below $10,000 and a lot of triggers were ignited when BTC hit that long predicted 30 percent correction.
BTC did not remain at $12,000 for long though and spend the best part of the past 24 hours consolidating at around $11,800. A few hours ago BTC dumped back to $11,000 in one swift candle. Since then it has regained composure settling at around $11,150, down 6 percent on the day.
The move has dropped BTC market capitalization back below $200 billion as the prospect of another lower low looms. It may just consolidate here for a while though; many are of the opinion that $10,000 could be the new floor for the time being.
Cryptocurrency Crush in Altcoin Avalanche
There is no doubting that Bitcoin dominance is causing the slow death of the altcoin markets which, yet again, are getting battered today. Over the past 24 hours $16 billion has left the space as total market capitalization has declined from over $335 billion to below $320 billion where they currently are.
Cryptocurrency trader ‘Moon Overlord’ eyes the potential for gains in a lot of the altcoins, many of which are still totally smashed from their all-time highs.
“The one thing I will say about $ALTS is the upside on them right now is incredible. A lot of the top 100 altcoins are down 95-99%…. they can’t even go much lower. The upside is 10, 20 50X+, what are you waiting for that extra 0.12% down to buy them?”
The one thing I will say about $ALTS is the upside on them right now is incredible
A lot of the top 100 altcoins are down 95-99%…. they can’t even go much lower
The upside is 10,20 50X+, what are you waiting for that extra 0.12% down to buy them?
— Moon Overlord (@MoonOverlord) July 4, 2019
“I’ve seen many $alts plunge 90% to the down-side after a 90% drop. Careful, ‘limited downside’ is an extremely dangerous meme for your portfolio, no such thing exists.”
It is true that many are still way down from their peaks and are not looking like recovering anytime soon. The second largest cryptocurrency in the world, Ethereum, is 80 percent down from its giddy height of $1,400 in January last year, and Ripple’s XRP token is down 90 percent according to Livecoinwatch. Others such as Bitcoin Cash, Cardano, Stellar, Dash, NEO and IOTA are in even more pain as the altcoin avalanche continues.
As we round out the week there is a lot of red on the crypto charts during Asian trading this morning, and it could well continue into the weekend.
Image from Shutterstock
The post Altcoin Avalanche Begins as Cryptocurrency Markets Shed $16 Billion appeared first on NewsBTC.
Altcoin Avalanche Begins as Cryptocurrency Markets Shed Billion