Bitcoin News (BTC) - Page 84
Crypto Visionary Nick Szabo Says Banks May Scrap 'Physically Vulnerable' Gold for Bitcoin
Computer scientist and cryptographer Nick Szabo says he believes central banks may decide to boost their reserves with crypto. The prediction is one of several made by Szabo at the first Israel Bitcoin Summit, as reported by Finance Magnates. ?There?s going to be some situations where a central bank can?t trust a foreign central bank or government with their bonds, for example. One solution that?s been developed is to have the Swiss government hold it for you ? that?s not a trust minimised solution. The Swiss government itself is subject to political pressures and so a more trust-minimised solution is cryptocurrency.
Computer scientist and cryptographer Nick Szabo says he believes central banks may decide to boost their reserves with crypto. The prediction is one of several made by Szabo at the first Israel Bitcoin Summit, as reported by Finance Magnates. ?There?s going to be some situations where a central bank can?t trust a foreign central bank or government with their bonds, for example. One solution that?s been developed is to have the Swiss government hold it for you ? that?s not a trust minimised solution. The Swiss government itself is subject to political pressures and so a more trust-minimised solution is cryptocurrency.
Jason Cox Extends Open Invitation for Assistance With Development and Review of Bitcoin Cash Code
BCH developer conversations have been taking place ahead of the upcoming May 2019 upgrade. In their latest video meeting, devs agreed that they need to know how much BCH is locked up in p2sh segwit addresses. It was also agreed that Andrea Suisani will take charge of the byte transaction size limit and Mark Lundeberg will review Amaury Séchet?s code on Schnorr signatures. Lastly, Jason Cox extended an open invitation for the qualified to assist with the development and review of BCH code. Also read: Major Mining Pools Have a ?High Die-Off Rate? Study Reveals A BCH developer meeting was held recently to get the ball rolling for the upcoming May 2019 upgrade. The meeting was moderated by David R Allen and consisted of lead developer of Bitcoin ABC Amaury Séchet, Bitcoin Unlimited developer Andrea Suisani, Bitcoin ABC developer Antony Zegers, Bitcoin ABC developer Jason B. Cox, Openbazaar developer Chris Pacia, CTO of Bitcoin.com Emil Oldenburg, and Bitcoin Cash developer Mark Lundeberg.
BCH developer conversations have been taking place ahead of the upcoming May 2019 upgrade. In their latest video meeting, devs agreed that they need to know how much BCH is locked up in p2sh segwit addresses. It was also agreed that Andrea Suisani will take charge of the byte transaction size limit and Mark Lundeberg will review Amaury Séchet?s code on Schnorr signatures. Lastly, Jason Cox extended an open invitation for the qualified to assist with the development and review of BCH code. Also read: Major Mining Pools Have a ?High Die-Off Rate? Study Reveals A BCH developer meeting was held recently to get the ball rolling for the upcoming May 2019 upgrade. The meeting was moderated by David R Allen and consisted of lead developer of Bitcoin ABC Amaury Séchet, Bitcoin Unlimited developer Andrea Suisani, Bitcoin ABC developer Antony Zegers, Bitcoin ABC developer Jason B. Cox, Openbazaar developer Chris Pacia, CTO of Bitcoin.com Emil Oldenburg, and Bitcoin Cash developer Mark Lundeberg.
Why the Winklevoss Twins Have a Lot of Love For Bitcoin the OG Crypto
The Winklevoss twins Ask Me Anything (AMA) session on Reddit grabbed the headlines throughout this week, primarily because of the ambitious long-term belief of Tyler Winklevoss that the market cap of Bitcoin will surpass that of gold at $7 trillion. The twins, who operate Gemini, a strictly regulated cryptocurrency exchange in the U.S., has long been enthusiastic about Bitcoin and the possibility of the dominant cryptocurrency competing against major traditional assets in the years to come. Although the Winklevoss twins have plenty of incentives to portray optimism toward Bitcoin given their holdings of 91,666 BTC they acquired in 2013 when the price of the asset was hovering at $120, the recent correction of crypto assets and a year-long bear market may have led the twins to develop increasing positivity toward Bitcoin.
The Winklevoss twins Ask Me Anything (AMA) session on Reddit grabbed the headlines throughout this week, primarily because of the ambitious long-term belief of Tyler Winklevoss that the market cap of Bitcoin will surpass that of gold at $7 trillion. The twins, who operate Gemini, a strictly regulated cryptocurrency exchange in the U.S., has long been enthusiastic about Bitcoin and the possibility of the dominant cryptocurrency competing against major traditional assets in the years to come. Although the Winklevoss twins have plenty of incentives to portray optimism toward Bitcoin given their holdings of 91,666 BTC they acquired in 2013 when the price of the asset was hovering at $120, the recent correction of crypto assets and a year-long bear market may have led the twins to develop increasing positivity toward Bitcoin.
Breakthrough: Bitcoin and Crypto Exchanges Approved in Thailand
The Securities and Exchange Commission of Thailand announced on Tuesday that the country?s Ministry of Finance has approved four applicants to operate cryptocurrency exchanges. The newly licensed broker-dealers are Bx, Bitkub, Coins and Satang Pro. The move affirms Thailand?s push to become a key cryptocurrency player in Asia where Japan, Singapore, Taiwan and Hong Kong are established hubs for blockchain entrepreneurs. A fifth exchange, Coin Asset, is pending review. According to the announcement, two exchanges were rejected. Both Cash2Coin Company Limited (Cash2coin) and South East Asia Digital Exchange Limited (SEADEX) will shutter their operations by January 14. The Finance Ministry says the exchanges were denied due to poor know-your-customer regulations, and unsafe IT security and cybersecurity systems.
The Securities and Exchange Commission of Thailand announced on Tuesday that the country?s Ministry of Finance has approved four applicants to operate cryptocurrency exchanges. The newly licensed broker-dealers are Bx, Bitkub, Coins and Satang Pro. The move affirms Thailand?s push to become a key cryptocurrency player in Asia where Japan, Singapore, Taiwan and Hong Kong are established hubs for blockchain entrepreneurs. A fifth exchange, Coin Asset, is pending review. According to the announcement, two exchanges were rejected. Both Cash2Coin Company Limited (Cash2coin) and South East Asia Digital Exchange Limited (SEADEX) will shutter their operations by January 14. The Finance Ministry says the exchanges were denied due to poor know-your-customer regulations, and unsafe IT security and cybersecurity systems.
Vitalik Buterin on Bitcoin SV: BSV is a pure dumpster fire
I have my disagreements with the Bitcoin roadmap, PoW, etc but they're trying to do something that's genuinely cool tech. BSV is a pure dumpster fire. BSV conclusively showed that a single block can take more than 20 minutes to propagate. It also had a clear case of a miner mining two different blocks at the same height. They are the laughingstock of cryptocurrencies, a coin borne of fraud, social media images and endless bullshit. If you are satisfied with a solution where the consensus among a small group becomes canonical for the rest of the network, then both XRP or Bitcoin SV are good solutions for you (most cryptocurrency enthusiasts aren't).
I have my disagreements with the Bitcoin roadmap, PoW, etc but they're trying to do something that's genuinely cool tech. BSV is a pure dumpster fire. BSV conclusively showed that a single block can take more than 20 minutes to propagate. It also had a clear case of a miner mining two different blocks at the same height. They are the laughingstock of cryptocurrencies, a coin borne of fraud, social media images and endless bullshit. If you are satisfied with a solution where the consensus among a small group becomes canonical for the rest of the network, then both XRP or Bitcoin SV are good solutions for you (most cryptocurrency enthusiasts aren't).
Bullish Sentiment for Bitcoin Is at a 5-Month High
The ratio of long-to-short positions placed on bitcoin (BTC) has reached its highest level in over five months on cryptocurrency exchange Bitfinex. At press time, the BTC long positions placed on the exchange total 33,750 units, worth $137.3 million at current market prices, whereas the number of short positions is roughly 11,000 units less at just 22,787 ? now worth just under $93 million. This creates the long-to-short ratio of nearly 1.5:1 ? its highest since August 6th of last year. Bitcoin longs and shorts (Bitfinex) The drop in short positions is not exactly surprising, considering the price of bitcoin fell roughly 50 percent between Nov. 14 and Dec. 14, giving traders ample time to lock in profits while awaiting further opportunities.
The ratio of long-to-short positions placed on bitcoin (BTC) has reached its highest level in over five months on cryptocurrency exchange Bitfinex. At press time, the BTC long positions placed on the exchange total 33,750 units, worth $137.3 million at current market prices, whereas the number of short positions is roughly 11,000 units less at just 22,787 ? now worth just under $93 million. This creates the long-to-short ratio of nearly 1.5:1 ? its highest since August 6th of last year. Bitcoin longs and shorts (Bitfinex) The drop in short positions is not exactly surprising, considering the price of bitcoin fell roughly 50 percent between Nov. 14 and Dec. 14, giving traders ample time to lock in profits while awaiting further opportunities.
Decentralized Platform Qtum Introduces Bitcoin Atomic Swaps to Its Mainnet
Latest news About Crypto Currency Blockchain platform Qtum is introducing Bitcoin (BTC) atomic swaps to its mainnet infrastructure, according to a press release shared with Cointelegraph Jan. 9. Atomic swaps are a technology that enables the exchange of one cryptocurrency for another without the need for a trusted third party or centralized exchange infrastructure. The implementation of Qtum-to-BTC atomic swaps has been achieved with the use of the Hash Time-Locked Contracts (HTLCs) technology and is based on the code of the open-source cryptocurrency Decred. HTLC ? according to Qtum?s announcement ? are the most secure way of implementing the swaps.
Latest news About Crypto Currency Blockchain platform Qtum is introducing Bitcoin (BTC) atomic swaps to its mainnet infrastructure, according to a press release shared with Cointelegraph Jan. 9. Atomic swaps are a technology that enables the exchange of one cryptocurrency for another without the need for a trusted third party or centralized exchange infrastructure. The implementation of Qtum-to-BTC atomic swaps has been achieved with the use of the Hash Time-Locked Contracts (HTLCs) technology and is based on the code of the open-source cryptocurrency Decred. HTLC ? according to Qtum?s announcement ? are the most secure way of implementing the swaps.
French tobacconists start selling Bitcoin - The Bitcoin News
In addition to cigarettes and lottery tickets, Bitcoins can now be bought in French tobacconists. By February, 6,500 businesses are to run Bitcoin So far, there are only six tobacco shops in and around Paris offering the leading cryptocurrency for sale. There are already 6,500 branches in February, Adil Zakhar told Reuters. Zakhar is one of the co-founders of Keplerk, a French fintech group responsible for implementing the service. ?Some people find it difficult to get bitcoins online,? Zakhar said. ?They trust their local tobacco shop owner more than an anonymous website.? The publication of bitcoins does not take place through the tobacconists. Rather, customers receive a kind of coupon card with a credit of 50, 100 or 200 euros on which a QR code is displayed. By scanning the code, the amount will be automatically credited to the electronic purse. Keplerk charges a commission of 7% on every ticket sold, with the tobacco dealer receiving a stake of 1.25%.
In addition to cigarettes and lottery tickets, Bitcoins can now be bought in French tobacconists. By February, 6,500 businesses are to run Bitcoin So far, there are only six tobacco shops in and around Paris offering the leading cryptocurrency for sale. There are already 6,500 branches in February, Adil Zakhar told Reuters. Zakhar is one of the co-founders of Keplerk, a French fintech group responsible for implementing the service. ?Some people find it difficult to get bitcoins online,? Zakhar said. ?They trust their local tobacco shop owner more than an anonymous website.? The publication of bitcoins does not take place through the tobacconists. Rather, customers receive a kind of coupon card with a credit of 50, 100 or 200 euros on which a QR code is displayed. By scanning the code, the amount will be automatically credited to the electronic purse. Keplerk charges a commission of 7% on every ticket sold, with the tobacco dealer receiving a stake of 1.25%.
Code Meets Money - An illustrated series honoring Bitcoin and Satoshi Nakamoto 10 years after launch of the network
The idea behind digital cash was to create a way to exchange value using the internet. With it, people would be able to send and receive money anywhere in the world without the friction and fees of traditional middlemen. Early attempts to create digital cash failed, but their progress paved the way for future success. The Code meets money project was a collaboration between Abra and Unbankd. Together, we set out to show you why Bitcoin is building the future of finance. You will receive a one-time text message to download the app.? Carrier charges may apply. Copyright 2018 Plutus Financial, Inc. All rights reserved. Privacy Policy. Terms of Service.
The idea behind digital cash was to create a way to exchange value using the internet. With it, people would be able to send and receive money anywhere in the world without the friction and fees of traditional middlemen. Early attempts to create digital cash failed, but their progress paved the way for future success. The Code meets money project was a collaboration between Abra and Unbankd. Together, we set out to show you why Bitcoin is building the future of finance. You will receive a one-time text message to download the app.? Carrier charges may apply. Copyright 2018 Plutus Financial, Inc. All rights reserved. Privacy Policy. Terms of Service.
Bitcoin Holds Above $4,000 Amid Checkered Market Outlook
Crypto markets are continuing to show mixed signals, with most of the top market cap coins seeing mild changes both red and green. Markets are continuing to show mixed signals, with most of the top market cap cryptos seeing mild changes red and green, and Bitcoin holding just above the $4,000 mark Wednesday, Jan. 9 ? crypto markets are continuing to show mixed signals, with most of the top market cap coins seeing mild changes both red and green. Bitcoin (BTC) is holding justabove the $4,000 mark, as Coin360 data shows. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has been jaggedly trading sideways over the past three days, and is currently down a mild 1.4 percent on the day, trading at $4,048. Having broken the $4,000 resistance on Jan. 6, Bitcoin spiked to around $4,100, subsequently continuing to fluctuate range bound between $4,000 and $4,100.
Crypto markets are continuing to show mixed signals, with most of the top market cap coins seeing mild changes both red and green. Markets are continuing to show mixed signals, with most of the top market cap cryptos seeing mild changes red and green, and Bitcoin holding just above the $4,000 mark Wednesday, Jan. 9 ? crypto markets are continuing to show mixed signals, with most of the top market cap coins seeing mild changes both red and green. Bitcoin (BTC) is holding justabove the $4,000 mark, as Coin360 data shows. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has been jaggedly trading sideways over the past three days, and is currently down a mild 1.4 percent on the day, trading at $4,048. Having broken the $4,000 resistance on Jan. 6, Bitcoin spiked to around $4,100, subsequently continuing to fluctuate range bound between $4,000 and $4,100.
French tobacco shops sell bitcoin for cash - Reuters.com
French tobacco shops in Paris are expanding their stocks of cigarettes, cigars and lottery tickets to include the cryptocurrency, bitcoin. The fintech group backing the scheme wants to enroll 6,500 shops across the country by February, but industry observers say it is quicker to buy bitcoin online. French tobacco shops in Paris are expanding their stocks of cigarettes, cigars and lottery tickets to include the cryptocurrency, bitcoin. The fintech group backing the scheme wants to enroll 6,500 shops across the country by February, but industry observers say it is quicker to buy bitcoin online. Reuters is the news and media division of Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.
French tobacco shops in Paris are expanding their stocks of cigarettes, cigars and lottery tickets to include the cryptocurrency, bitcoin. The fintech group backing the scheme wants to enroll 6,500 shops across the country by February, but industry observers say it is quicker to buy bitcoin online. French tobacco shops in Paris are expanding their stocks of cigarettes, cigars and lottery tickets to include the cryptocurrency, bitcoin. The fintech group backing the scheme wants to enroll 6,500 shops across the country by February, but industry observers say it is quicker to buy bitcoin online. Reuters is the news and media division of Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.
Bitcoin ATMs Continue to Spread Across the Globe
There are now over 4,000 bitcoin ATMs throughout the world, global statistics provided by Coinatmradar.com show. Nearly all of them support bitcoin (BTC) and a growing number are supporting bitcoin cash (BCH). Most of the machines, also known as BATMs, can be found in the U.S., though their presence is steadily growing, not only in developed European countries, but in Latin America and Asia too. Also read: Why Colombia Has Become a Hotspot for Bitcoin ATMs According to data from Coinatmradar.com, the U.S. has the highest number of crypto ATMs, with 2,493 ? or 55.9 percent ? of the world?s BATMs. 45 out of 50 states have at least one cryptocurrency ATM, with California leading with 475, followed by Illinois with 252. Chicago alone holds around 226. Other states with high numbers of ATMs include New York, with 131, and Georgia, which has 121 of the machines in its capital Atlanta. North America as a whole, including Canada, has 71.7 percent, or 2,981 of the world?s crypto ATMs.
There are now over 4,000 bitcoin ATMs throughout the world, global statistics provided by Coinatmradar.com show. Nearly all of them support bitcoin (BTC) and a growing number are supporting bitcoin cash (BCH). Most of the machines, also known as BATMs, can be found in the U.S., though their presence is steadily growing, not only in developed European countries, but in Latin America and Asia too. Also read: Why Colombia Has Become a Hotspot for Bitcoin ATMs According to data from Coinatmradar.com, the U.S. has the highest number of crypto ATMs, with 2,493 ? or 55.9 percent ? of the world?s BATMs. 45 out of 50 states have at least one cryptocurrency ATM, with California leading with 475, followed by Illinois with 252. Chicago alone holds around 226. Other states with high numbers of ATMs include New York, with 131, and Georgia, which has 121 of the machines in its capital Atlanta. North America as a whole, including Canada, has 71.7 percent, or 2,981 of the world?s crypto ATMs.
A New Blockchain Project is Generating 20% of Daily Bitcoin Transactions
by cryptocurrencynews | Jan 9, 2019 | Cryptocurrency News | 0 comments Recently, Bitcoin developers noticed some strange activity on the blockchain. Specifically, a large number of unidentified OP_RETURNtransactions were discovered. OP_RETURN is a type of Bitcoin transaction that is used for embedding data into the blockchain. It can be used for anything from proving the existence of some data at a specific point in time (proof-of-existence) to issuing new assets, such as the controversial US dollar-pegged Tether, on top of the Bitcoin blockchain. Over the weekend, it become more widely known that the entity behind these transactions is VeriBlock, which is a project that piggybacks on the Bitcoin blockchain in an effort to better secure alternative crypto asset networks. According to Casa CTO Jameson Lopp and VeriBlock?s own block explorer, VeriBlock has grown to the point where it now accounts for roughly 20% of all daily Bitcoin transactions.
by cryptocurrencynews | Jan 9, 2019 | Cryptocurrency News | 0 comments Recently, Bitcoin developers noticed some strange activity on the blockchain. Specifically, a large number of unidentified OP_RETURNtransactions were discovered. OP_RETURN is a type of Bitcoin transaction that is used for embedding data into the blockchain. It can be used for anything from proving the existence of some data at a specific point in time (proof-of-existence) to issuing new assets, such as the controversial US dollar-pegged Tether, on top of the Bitcoin blockchain. Over the weekend, it become more widely known that the entity behind these transactions is VeriBlock, which is a project that piggybacks on the Bitcoin blockchain in an effort to better secure alternative crypto asset networks. According to Casa CTO Jameson Lopp and VeriBlock?s own block explorer, VeriBlock has grown to the point where it now accounts for roughly 20% of all daily Bitcoin transactions.
Why Bitcoin (BTC) Might Begin Its Next Uptrend A Lot Sooner Than Expected
Bitcoin (BTC) is about to enter overbought territory on the daily time frame but there is still room for an aggressive rally to the upside short term. As frequently mentioned in our previous analyses, Bitcoin (BTC) will have to retest previous market structure sooner or later. This is the best time to do that considering Bitcoin (BTC) is close to topping out short term but there is room for a rally towards $6,000. This is speaking about Bitcoin (BTC) independently but as we have seen in the past, Bitcoin (BTC) looks up to bigger markets at critical points. If EUR/USD had started a recovery instead of continuing to decline around July, 2018, we would have seen Bitcoin (BTC) do the same.
Bitcoin (BTC) is about to enter overbought territory on the daily time frame but there is still room for an aggressive rally to the upside short term. As frequently mentioned in our previous analyses, Bitcoin (BTC) will have to retest previous market structure sooner or later. This is the best time to do that considering Bitcoin (BTC) is close to topping out short term but there is room for a rally towards $6,000. This is speaking about Bitcoin (BTC) independently but as we have seen in the past, Bitcoin (BTC) looks up to bigger markets at critical points. If EUR/USD had started a recovery instead of continuing to decline around July, 2018, we would have seen Bitcoin (BTC) do the same.
Bitcoin Now Available for Purchase in Tobacco Shops Across France
Following the announcement of a new scheme to allow tobacco vendors in France to offer Bitcoin (BTC) and Ethereum (ETH) for purchase in stores, KeplerK has made good on its promise. Cryptocurrency is now available for purchase in 23 Tobacco stores nationwide. Just two months ago, KeplerK, a French fintech group looking to make cryptocurrency purchases simple, announced that the French federation of tobacco vendors will be diversifying their offerings by allowing customers to purchase cryptocurrency in-store. Billing itself as the easiest way to purchase Bitcoin in Europe, KeplerK now joins the growing list of companies looking to simplify the task of acquiring cryptocurrency while making it more approachable to anybody with interest in digital currencies.
Following the announcement of a new scheme to allow tobacco vendors in France to offer Bitcoin (BTC) and Ethereum (ETH) for purchase in stores, KeplerK has made good on its promise. Cryptocurrency is now available for purchase in 23 Tobacco stores nationwide. Just two months ago, KeplerK, a French fintech group looking to make cryptocurrency purchases simple, announced that the French federation of tobacco vendors will be diversifying their offerings by allowing customers to purchase cryptocurrency in-store. Billing itself as the easiest way to purchase Bitcoin in Europe, KeplerK now joins the growing list of companies looking to simplify the task of acquiring cryptocurrency while making it more approachable to anybody with interest in digital currencies.
Hong-Kong Based Crypto Exchange Set To Offer Bitcoin Futures at 20x Leverage
The Hong-Kong-based cryptocurrency exchange Coin Futures and Lending Exchange (CoinFLEX) recently announced that they would be providing futures contracts for cryptocurrencies to Asian investors as early as February of this year. CoinFLEX was launched back last year in February as CoinfloorEX which is a division of Coinfloor, which is the oldest British Bitcoin exchange. However, this venture has just announced that it is breaking away from the parent company. This new platform is co-owned by parent company CoinFloor as well as well-known industry investors such as the likes of Bitcoin Cash?s Roger Ver, B2C2, Dragonfly Capital, Mike Komaransky, Trading Technologies and many others. New Futures Contracts On The Horizon: CoinFLEX has set the wheels in motion to initiate new futures contracts for Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) with a leverage possibility of up to as many as 20 times. Physically delivered futures contracts such as the ones currently offered by CoinFLEX are highly advantageous since their values are tied to an underlying asset. As we know, this means, that upon expiration of the futures contract, investors will be offered the asset instead of that of a fiat payout. CoinFLEX?s advantage of their preferred compensation system is the fact that it encourages transparency as manipulating the process is impossible. Ultimately this transparency is a definite way to encourage more confidence in the crypto market which as we know, still suffers from pains in regulatory uncertainties. CoinFLEX CEO Mark Lamb in an interview with Bloomberg had this to say: ?Crypto derivatives could become an order of magnitude larger than spot markets and the main thing that?s holding back that growth is the lack of physical delivery. Volumes are reduced because of a problem of trust when it comes to cash-settled trades.? Lamb went on to add that currently, the trading volume in the market sits at $3 million with much more room for growth. Futures Contracts Is A Growing Sector: Along with CoinFLEX?s upcoming offer, they join the likes of Bakkt, a Chicago-based crypto exchange with is backed by Intercontinental Exchange, which is the parent company of the NYSE. Last year, Bakkt announced that they would be launching their own physically-backed futures contracts for investors based in the USA. Bakkt managed to raise a whopping $182.5 million on New Year?s Eve from a consortium of high-profile investors as they edge closer to the launch of their Bitcoins futures market, this the first quarter of 2019.
The Hong-Kong-based cryptocurrency exchange Coin Futures and Lending Exchange (CoinFLEX) recently announced that they would be providing futures contracts for cryptocurrencies to Asian investors as early as February of this year. CoinFLEX was launched back last year in February as CoinfloorEX which is a division of Coinfloor, which is the oldest British Bitcoin exchange. However, this venture has just announced that it is breaking away from the parent company. This new platform is co-owned by parent company CoinFloor as well as well-known industry investors such as the likes of Bitcoin Cash?s Roger Ver, B2C2, Dragonfly Capital, Mike Komaransky, Trading Technologies and many others. New Futures Contracts On The Horizon: CoinFLEX has set the wheels in motion to initiate new futures contracts for Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) with a leverage possibility of up to as many as 20 times. Physically delivered futures contracts such as the ones currently offered by CoinFLEX are highly advantageous since their values are tied to an underlying asset. As we know, this means, that upon expiration of the futures contract, investors will be offered the asset instead of that of a fiat payout. CoinFLEX?s advantage of their preferred compensation system is the fact that it encourages transparency as manipulating the process is impossible. Ultimately this transparency is a definite way to encourage more confidence in the crypto market which as we know, still suffers from pains in regulatory uncertainties. CoinFLEX CEO Mark Lamb in an interview with Bloomberg had this to say: ?Crypto derivatives could become an order of magnitude larger than spot markets and the main thing that?s holding back that growth is the lack of physical delivery. Volumes are reduced because of a problem of trust when it comes to cash-settled trades.? Lamb went on to add that currently, the trading volume in the market sits at $3 million with much more room for growth. Futures Contracts Is A Growing Sector: Along with CoinFLEX?s upcoming offer, they join the likes of Bakkt, a Chicago-based crypto exchange with is backed by Intercontinental Exchange, which is the parent company of the NYSE. Last year, Bakkt announced that they would be launching their own physically-backed futures contracts for investors based in the USA. Bakkt managed to raise a whopping $182.5 million on New Year?s Eve from a consortium of high-profile investors as they edge closer to the launch of their Bitcoins futures market, this the first quarter of 2019.
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