The Game Isn’t Over Yet For Bitcoin, Ethereum, Ripple And Litecoin

Investing in Bitcoin, Ethereum, Ripple and Litecoin is still a game that can make people rich and truly free, according to some experts.
Bitcoin and other cryptocurrencies have made many people very rich, very quickly — people who purchased into these cryptocurrencies early, before they ran their exponential course.

But they have made many people very poor very quickly, too—people who purchased these cryptocurrencies near their all-time highs, before they got crushed.

“It’s safe to say that the price action in the crypto market over the past few months has been very ugly,” says Investing.com Senior Analyst Jesse Cohen. “All the major coins have suffered steep double-digit declines since the start of the year and are all trading below their respective 200-day moving averages, which usually signals more losses ahead.”
Still, Cohen doesn’t believe the game is over for Bitcoin and other major cryptocurrencies. “We’ve seen Bitcoin do this before, where it plunges sharply over a prolonged period only to violently bounce back to new highs in a short time. While it isn’t looking too hot at the moment, it’s still way to early too call the end of Bitcoin, or cryptos in general.”
Aaron Lasher, BRD’s CMO and cofounder, agrees. “The game isn’t over,” says Lasher. “Digital scarcity is a major innovation in money and value, and we’re in the initial stages of a multi-decade trend towards tokenization of assets.”

Lasher sees cryptocurrency innovations changing peoples’ lives. “If sending money globally as easily as an email doesn’t impress you, how about the ability to store your life savings in your head, then walking your family across a war-torn border to safety?”
That’s why people shouldn’t be fooled by the recent social media gloom and doom about Bitcoin and other cryptocurrencies. “Witness the continental shift towards cryptocurrency with a magnifying glass, and you might be fooled, but bitcoin has ‘died’ over a hundred times in the past, at least according to traditional journalists.”

Lasher believes that Bitcoin and other cryptocurrencies are still the tickets to a rich and truly free life. “Getting rich with cryptocurrency is a proxy for true freedom, a personal financial situation that is largely immune to the politics, flaws, and vicissitudes of an interconnected, global system – an oasis of security and a platform for individual pursuits.”
These are certainly very comforting words to those investors who entered the cryptocurrency market near its all-time highs, but not to those who think that the cryptocurrency markets are in a bubble that is already bursting.

We all know what happens to investors when bubbles burst.

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Centralized Ripple is Probably a Security Token

A primary attraction of decentralized cryptocurrencies is that they’re censorship-resistant. The more centralized a coin is, the easier it is for its supply to be controlled. But there’s another problem with overly-centralized cryptocurrencies such as ripple: they risk being classified as a security, which brings all kinds of problems.

How Centralized Must a Cryptocurrency Be Before It Becomes a Security?

Ripple has long been criticized for its centralization. These concerns have revolved around the degree to which Ripple, or its partner exchanges – aka Ripple Gateways – have the power to freeze and reverse transactions. Ripple’s greatest centralization problem may owe less to the way its nodes operate, however, and more to the amount of coins held by the company. Given that Ripple owns the majority of all XRP, the argument goes, anyone buying the coin is essentially buying shares in the company.

Many cryptocurrencies are the product of an incorporated company, but these companies don’t generally hold the bulk of the supply. For months, Ripple was regarded as a stick-on to become the next coin listed by Coinbase. But as news.Bitcoin.com recently reported, “Ripple may not qualify because Coinbase decrees it essential that “the ownership stake retained by the team is a minority stake””. This week, it emerged that Ripple had tried to buy its way onto Coinbase and GDAX, only for its $1 million sweetener to be rebuffed by the U.S. exchanges. There’s a certain irony in a centralized exchange not wanting to accept a coin because it’s too centralized.

 

Exchanges Don’t Want Securities

On Thursday, Binance moved fast to delist centra after the coin’s founders were arrested and the SEC’s investigation into possible security fraud cranked up. Cryptocurrency exchanges don’t want security tokens: they’re a regulatory headache, and exchanges such as Bittrex have already delisted tokens that could be deemed securities. Following its acquisition by Circle, Poloniex is believed to be following suit.  If ripple was to be classified as a security, its sale would be subject to much more stringent regulations in the U.S., making it more akin to a stock than a cryptocurrency.

2018 has been billed by some in the crypto space as the year of the security token, but these tokens will be traded on specialist exchanges that are licensed to sell them, and to accredited investors. Cryptocurrency exchanges have enough regulatory issues to deal with as it is, what with the threat of banking facilities being withdrawn at short notice, without having to worry about the SEC breathing down their necks.

Ripple Has Its Feathers Ruffled

Over the last couple of days, several commenters have crafted scathing critiques of ripple, averring that the cryptocurrency is swimming in security seas. “XRP is a security. Ripple Co is the issuer. Brad Garlinghouse, Chris Larsen, and other Ripple Co executives are subject to the anti-fraud laws under SEC jurisdiction,” opined Lawson Baker, adding “A supposed decentralized cryptocurrency can be a security with enough centralization.” Baker also claims to have assessed ripple using Coinbase’s own listing criteria, and found that there’s a 50% chance of the token being categorized as a security.

Lawson Baker continues: “XRP is definitely not decentralized. Ripple Co creates the common enterprise. Ripple Co initially distributed all of XRP for money. This is the “investment of money” element of Howey Test. Ripple Co and founders control more than ~60% of the XRP in existence. Control is general 10% of voting power in traditional finance. Ripple Co even controls the inflation / dilution rate of XRP”. He finishes: “Security analysis is a spectrum. XRP is the blinding security white light.’”

Ripple Critics Pile In

In a blogpost on April 5, Messari founder and prominent crypto voice “Twobitidiot” joined in, writing: “crypto companies tend to want things both ways. Act like a securities offerer when it’s convenient from a capital formation perspective or when you’re doling out “founders’ rewards”. Pretend you’re actually selling a currency or commodity when it becomes markedly less convenient from an investor disclosures standpoint.” He then went on to ask a series of questions such as “Why does the company write about XRP price appreciation as if it’s a milestone? Why do they do little to tamp down speculation around XRP enterprise adoption?” No, why do they actively insinuate big news is coming by writing things like “XRP markets began to connect the dots once again?”

XRP is by no means the only cryptocurrency that could be construed as a security, but it’s the most high profile, and its knockback by Coinbase has shed new light on Ripple’s business practises. If other crypto projects could spare $1 million cash and $100 million in tokens for a Coinbase listing, many would behave in exactly the same manner. As it is, only a handful of players including Ripple, with the billions of tokens at its disposal, is in a position to make such an offer. Centralized cryptocurrencies aren’t crypto and they aren’t currency either – they’re company stock.


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Author: Kai Sedgwick
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Ripple (XRP) Marketing Initiatives Are Following the Style of Tech Conglomerates

How Microsoft excelled in the computer technology industry, when so many others failed, is an intriguing story in itself. One of the primary reasons is that the technology used by Microsoft has proved to have more usability and durability than the ones used by other firms. However, another major factor that has attributed to the success of Microsoft has been its ability to successfully market its technological ventures.
One of the most successful marketing strategies of Microsoft has been the donation of computers, to low-income school districts in the 1980’s. This earned the tech giant major publicity through mentions in school newspapers, local radio and local television shows. This dissemination of information at grassroots level helped the tech conglomerate create its consumer base and garner significant self-promotion.

How Ripple Has Replicated Microsoft

Ripple has been replicating this marketing strategy of Microsoft with the aim of expanding its consumer base. The virtual asset company has been implementing similar marketing tools, one of which has been the recent donation to a school crowdfunding website called DonorsChoose.org, of an amount of 29 million dollars’ worth of XRP. This particular website is well-known throughout America for raising money for educational purposes such as books, field trips, and other necessary school supplies. Till date, this website has been successful in funding about 1.1 million school projects and reaching out to nearly 27.7 million students.

Ripple announced that this donation is the biggest ever gift made to a single charity in the history of crypto verse. Thousands of requests made by public school teachers made on the crowdfunding website DonorsChoose.org were fulfilled. The official press release of the company declared that this using this huge sum of money, classroom materials was bought for 28,000 teachers of public school across the 50 states of USA.
The founder and CEO of DonorsChoose.org, Charles Best, said that he had approached Ripple on account of the fact that Brad Garlinghouse, the CEO of Ripple has been involved with the charity foundation. A mail was then sent to Ripple executives describing the possible impact of this philanthropic action on the public school system of America. This is till date, the biggest effort made by Ripple to carry out a social program in a formalized capacity. The crowdfunding website, DonorsChoose.org has finalized on the decision of liquidating the donated amount of the Cryptocurrency Ripple into U.S Dollars over the subsequent weeks to ensure that the market price does not get affected at the current exchange rate, this donation is actually worth an amount slightly under 50 million XRP. Had the donation made in January, it would have amounted to only 7.5 million tokens of XRP as the peak global average of Ripple would have been, at that point, 3.84 dollars.

Ripple made the following announcement on its blog site:

“Today marks the first time in 18 years where the total number of projects on our site reads ‘0.’” DonorsChoose said in a blog post. “Thanks to Ripple’s gift, over the next few weeks tens of thousands more boxes full of supplies will start arriving in classrooms across the country.”

After Ripple made this hefty donation at DonorsChoose.org, necessities of 35,600 classrooms will be funded. This donation is slated to send immense product awareness throughout America, a region that has slacked in the valuation as well as knowledge of XRP, even though the entire conversation around cryptocurrency in the country stems from mass media generated FUD frenzy. The announcement of this donation by Ripple has resulted in a significant amount of media traction and national news coverage for Ripple.
Conclusion

XRP now will be used as digital means for paying for books, classroom equipment, technology, and student trips. Basically, cryptocurrency is bound to take over the computer tech industry. However, the general public perception of cryptocurrency that it is just some kind of financial speculation which is filled with schemes to make quick money in uncertain ways. Not many actually understand that the technology of cryptocurrency can go a long way in serving the society while also garnering positive publicity for itself. This donation from Ripple made to DonorsChoose.org will yield in a significant amount of product awareness for the cryptocurrency. This well-planned marketing and social outreach venture will disseminate the real potential of Ripple amongst the general public. This is very similar to the way Microsoft had carried out social outreach programs, thus becoming the leading manufacturer of computer technology and software and essentially a household name.

Source:www.globalcoinreport.com

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Crypto update: bitcoin (BTC), Ripple (XRP), and Litecoin (LTC) rocket higher

The crypto market has had a great start to the week and pushed significantly higher overnight.
This has increased the value of the entire market by 9% since this time yesterday to US$283.5 billion.

Here is the state of play on Wednesday morning:
The bitcoin (BTC) price is up 7% over the last 24 hours to US$7,511.35 per coin. This has increased the market capitalisation of the world’s largest cryptocurrency to US$127.4 billion. The bitcoin price has been given a boost by surviving the “death cross” technical indicator at the weekend and news that Japanese online brokerage firm Monex is considering buying Coincheck. This move has been a confidence boost for the market and is being seen as a step forward in legitimising the industry. Monex’s Japan-listed shares jumped 23% on the news.
The ethereum (ETH) price has risen 9% since this time yesterday to US$418.97 per token, lifting its market capitalisation to US$41.3 billion.

The Ripple (XRP) price has been on fire during the last 24 hours and jumped 11% to 54.9 U.S. cents. This leaves the popular altcoin with a market capitalisation of US$21.5 billion.
The Bitcoin Cash (BCH) price has climbed 7.5% since this time yesterday to US$715.42, leaving it with a market capitalisation of US$12.2 billion.
The Litecoin (LTC) price has been the best performer during the last 24 hours with a 14% move higher to US$134.33. This has increased the market capitalisation of the popular altcoin to US$7.5 billion.

Outside the top five there were strong gains being seen across the board and notably for the likes of EOS (EOS), Cardano (ADA), NEO (NEO), and IOTA (MIOTA). Cardano and “China’s bitcoin”, NEO, are both up over 11% since this time yesterday as trader sentiment in altcoins becomes positive again. Time will tell how long it lasts this time.

Source: http://www.fool.com

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

 

Ripple Price Will Go $10.00 Soon

In the last 24 hours, Ripple prices gained four percent while the cryptocurrency market cap added $15.2 billion, demonstrating that investors are feeling particularly generous.
However, the broad trends are still active.

One day’s reprieve does not change the fact that cryptocurrencies are backsliding. Investors are simply terrified of potential regulation, and that fear becomes self-fulfilling—it eventually leads to an avalanche of sell orders.
What I find interesting is that companies react the exact opposite way to potential regulation.
Sure, business owners and Wall Street-types will spout abuse at government ineptitude, but in reality, they view government involvement as a sign of credibility. The anarchy of unregulated markets is too unpredictable for them.
As a result, corporations are eagerly plowing forward with new use-cases now that regulation is in the cards.
This may seem counterintuitive to retail investors, but it really shouldn’t. Remember how hopes of mass adoption sent cryptocurrency prices through the roof? Well, this is what blockchain’s welcoming party looks like: lots of “INCs” and “CORPs”; not a lot of individuals.

Just take a look at these recent announcements:

1 One of Canada’s largest bank considers blockchain for “asset tracking.” In a patent filing, Toronto-Dominion Bank (NYSE:TD, TSE:TD) proposes using a public ledger to reduce fraud in the banking system. It’s odd they didn’t brainstorm this idea last year. Or the year before that, come to think of it. Uncanny that it happened now, just when regulators got on board. (Source: “REAL TME VIRTUAL DRAFT SYSTEM AND METHOD,” US Patent & Trademark Office, March 29, 2018.)

2 IBM meets with central banks about token issuance. In accordance with its work on Stellar’s platform, and with the XLM token, IBM (NYSE:IBM) held closed-door meetings with 20 central banks around the world. They say one of the central banks could dip a “big toe” into the digital currency space this year. Plus, IBM is working on all sorts of “permissioned public blockchains.” (Source: “IBM Is Finally Getting Serious About Cryptocurrency,” CoinDesk, March 31, 2018.)

3 A Malaysian airline is launching crypto-based rewards program. Not only is budget airline AirAsia moving its loyalty program onto a blockchain, it’s also issuing a token that investors can use to redeem their rewards. (Source: “AirAsia is creating its own cryptocurrency as part of its digital shift,” Nikkei Asian Review, March 29, 2018.)
It’s abundantly clear that corporations are embracing cryptocurrencies. I’m simply drawing a connection between that trend, the global push for stricter regulations, and falling cryptocurrency prices. All three are related.
Analyst Take

Try not to see government officials as meddlesome interlocutors bent on destroying XRP prices. More often than not, they are simply technocrats looking to minimize risk and maximize growth. That’s a tough job. So don’t worry too much about our $10.00 Ripple price prediction—we may have to extend the time horizon, but the fundamentals are just as strong as ever.

If this analysis seems overly broad, in the sense that it applies to more than just XRP, it’s because cryptocurrency prices are moving in sync. Until XRP decouples from the rest, we have to describe the macro factors at play.

Source: http://www.profitconfidential.com

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!