CRYPTOSILV

When the game is rigged, you don't have to play by the rules. Once upon a time God created man on a earth filled with beautiful lush resources. To access this wealth, Man created an institution, a system of rules and regulations which determines and controls who had access to the wheels of this power. This institution is the financial market and like it or not, like a Magician waving his wand, it controls a chunk of your life. Money makes the world goes round, it's the wheel  of progress and when you gat no dime in your pockets, getting the basic life necessities becomes a World War. I haven't been in a war mate, but I know it ain't fun. Now how do you get money and sort out your finance? When you were in school you learnt that if you studied well and got a good certificate you would be set in life. Well, that's crap, isn't it. I believed that for a long time, I held on to it for ages. Not until I finished school and I enrolled into the school of ...

Someone ask me on Quora: How do I start investing in crypto currency smartly? Is it too late to start? My Reply: The best was probably in 2011. But you are not too far behind. I can say entering while the weak hands are exiting is a perfect time. The market is red, everyone is panicking. I'll suggest you start with Bitcoin. The reason is not farfetched. It is the first and the most secured cryptocurrency there is. Concerning investing smartly, well continue to ask questions from people who have been there, done it make mistakes and learnt vital lessons along the way. You can't avoid mistakes, but you can minimize it if you follow people who know a lot about cryptocurrencies. Crypto Twitter will be a place to go. Also I answered a question about investing in Bitcoin. You can read it  here . Want to gift your love ones customized watch for this holiday? Visit our  website to order yours.

A few well-known industry companies have come together to form the Blockchain Association, a group focused on educating Washington on the crypto industry in order to expedite the development of regulations. While some may feel that regulating a decentralized industry kind of defeats the purpose, it is an important part of paving the way for mass adoption. However, the industry is growing at a rapid and phenomenal pace while clear regulations seem to be taking quite a while to catch up. Law.com recently reported that some cryptocurrency companies are pushing for speedier resolutions and have formed the Blockchain Association (BA) lobbying group in a bid to do this. These aren’t some new startups, though. Its president is the chief legal officer of Coinbase, Mike Lempres, and the group represents a range of companies including Circle and Protocol Labs. There are eight members in the group, which also includes Kristin Smith, a former senator’s aid and Overstock blockchain lob...

Scholars from a number of leading research universities have recently come together to tackle the issue of how blockchain technology and regulatory frameworks can co-exist and promote the adoption of blockchain technology. Abelian, the “Accountable Privacy” initiative, is a collaborative effort between the research institutes of Nanyang Technological University (NTU) of Singapore, Shanghai Jiao Tong University (SJTU) of China, and the University of Wollongong (UoW) of Australia. The development is handled by Hong Kong based blockchain development firm CryptoBLK, which is well-known for its previous development work for HSBC and ING. “When a new technology emerges, there is generally period of grey zones as markets and regulators figure out ways to adapt to each other,” says Professor Huaxiong Wang at Singapore’s Nanyang Technological University. He is joined by three other scholars in cryptography on this project Abelian.   “Today’s financial regulatory framework is bu...

Author of the book ‘Mastering Bitcoin’ and noted bitcoin advocate Andreas Antonopoulos believes that a Bitcoin ETF is imminent. However, he insists that the long-term implication of such fund will do more harm than good for the original cryptocurrency. Intermediary Bitcoin ownership Antonopoulos described an exchange traded fund(ETF) as a fund that has a custodian or a manager who creates a financial instrument that can be traded like a stock but in the actual sense of it, it isn’t a stock. So for a Bitcoin ETF, this fund is expected to hold Bitcoin, and then sell shares in the Bitcoin reserve that represent the price of Bitcoin. This system of investment allows people to buy the eventual shares as ‘stocks’ through their regular brokers, and traded on the stock market. Practically, in this case the investors do not hold or own actual Bitcoins. They simply own shares of Bitcoins owned and held by the custodian. So essentially, it only provides opportunities for market prac...

Wallet solution Mycrypto has raised $4 million to build a platform allowing users to create new wallets, the full details of which are in this edition of The Daily. Also, the wallet advertised by software guru John McAfee, Bitfi, is removing the ‘unhackable’ claim from its branding, an Islamic crypto exchange applies for a license in Malta, and Eminem’s new album features bitcoin. Mycrypto Raises $4 Million to Create New Wallets Popular ethereum interface Mycrypto has raised $4 million in a funding round led by Polychain Capital. The money will be used to build a platform that allows users to create new wallets as well as buy, sell and trade cryptocurrencies. The news comes after the team recently launched a desktop app with which clients can manage or use their cryptocurrency without online resources or protocols and secure their funds outside an exchange. The platform is non-custodial, does not hold customers’ funds or personal data, and users are in control of thei...

Vocal cryptocurrency skeptic Paul Krugman is offering a more complete picture of his views on Bitcoin and blockchain. At ChainXChange, a recent blockchain conference in Las Vegas, Krugman joined Fundstrat co-founder Tom Lee and Ripple’s chief marketing strategist Cory Johnson on a panel focused on the future of money. From the start, Krugman admitted he hasn’t looked at the entire cryptocurrency industry at large, and has instead focused on trying to learn how Bitcoin works. “Bitcoin is the only one I halfway understand,” Krugman said, reports Nulltx. Krugman then admitted that despite his concern that Bitcoin mining uses a lot of energy, the leading cryptocurrency already has more utility than gold. Gold is dead… Bitcoin has more utility than gold. There is some chance for Bitcoin to be valuable in the future.” When comparing Bitcoin’s utility compared to fiat, Krugman says his major issue is the cost of transactions used to transfer BTC. He believes if those fees were...

PayPal has come in for fresh criticism as commentators renew claims the company has all but failed in its mission to transform money usage. PAYPAL SLIPS UP IN TURKEY Now, amid reports of fresh account freezes in order to bend to regulatory demands in some jurisdictions, cryptocurrency industry figures are more skeptical than ever of the company whose original remit was to break down borders associated with payments and give consumers borderless freedom. “PayPal’s original vision was to prevent governments from doing exactly this,” Messari CEO Dan McArdle tweeted August 14 in response to PayPal’s admission it had blocked access to customers from Turkey. “We have no choice but to suspend processing payments in your region. We will continue to seek to obtain the necessary approvals to enable us to recommence PayPal services in Turkey in the future,” the agent explained. Responses to the message quickly turned to suggest those affected use Bitcoin instead. …BUT BIT...

The peer-to-peer BTC markets of numerous emerging markets have witnessed significant action this past week, with the Localbitcoins markets of Venezuela, Argentina, and the Philippines posting record weekly fiat trade volume. The P2P markets of Tanzania and the Dominican Republic also saw notable surges in trading activity. Venezuela and Argentina Witness All-Time High Fiat Volume for P2P Trade A number of Latin American P2P BTC markets have witnessed an upsurge in trading activity this past week, with Venezuela and Argentina setting new records for the fiat value of weekly trade volume on Localbitcoins, according to Coindance. A record-breaking nearly 21 trillion Venezuelan Bolivar (VEB) (roughly $84.5 million USD) worth of BTC exchanged hands on Localbitcoins during the week of the 11th of August. When measured in BTC, this past week saw the second highest volume ever for the P2P BTC/VEB markets, with 695 BTC traded in a single week. https://news.bitcoin.com/p2p-mark...

Binance, the world’s largest cryptocurrency exchange by means of trade volume, and a local professional Swiss cryptocurrency exchange will be making a fiat-to-crypto exchange available for its users. Binance Continues to Grow According to the official announcement, Binance will be responsible for the technology and the maintenance of the platform whereas the joint venue, called Binance LCX, will be managing the customer support, due diligence, legal requirements, KYC, AML, and so forth. Reportedly, the plan is to build up a team of up to 15 people for the office in Liechtenstein. The new venue will enable traders to exchange Swiss Francs (CHF) and Euros (EUR) against some of the major cryptocurrency pairs. More trading pairs are going to be added after receiving regulatory clearance. Focus on Serious Investments While there is no mention of required minimum trading amounts, the new venue is seemingly geared towards catering to the needs of professional investors. ...

Nic Carter, is a highly respected cryptocurrency researcher. He recently stated that Bitcoin has eventually surpassed the OTC gold market most especially in terms of settlement volumes, undermining the 70 percent fall in its price. In accordance to the clearing statistics of the London bullion market (LBMA), about five major clearing members of the LPMCL which includes HSBC, ICBC Standard Bank, Scotiabank, JP Morgan, and UBS, the global gold over-the-counter (OTC) market is now on track to settle about $446 billion in 2018, after it had settled just less than $30 billion on a monthly basis ever since January. Carter explained: “I’m conservatively estimating the London OTC market for gold, overseen by the LBMA, at 70% of global volumes. They publish clearing statistics. With these I can estimate the total net volume of regulated gold settlement at $446b for 2018 (based on 6 months of data). Conservatively, (adjusted estimates), Bitcoin has settled about $848b this year, an...

Jeffrey Tucker, economist and editorial director for the American Institute for Economic Research, is calling out banking elites and governments for their long-standing monopoly on money, which has led to “world wars, depression and inflation, enormous government indebtedness, and the rise of leviathan states that learned to print their way to power and riches.” In a recent report, Tucker advises central banks and governments to stop meddling in the world of crypto — where they’re not wanted, not qualified and not going to succeed. But banks are hardly lying down and rolling over. They’re lining up solutions to kick Bitcoin and crypto to the curb, challenging the fintech startups that are vying to take away their monopoly and world dominance. Tucker addresses their central scheme to stop the competition: issue their own digital currencies. But a government-backed, central bank-branded coin would have nation-state borders and would live on a permissioned blockchain. It would ...

Dash CEO and former Wall Street executive Ryan Taylor spoke out about the recent Wall Street activity seen in the cryptocurrency space recently, with ICE establishing a bitcoin market and financialization coming in from other avenues of the traditional finance world. Dash CEO Explains Why He Left Wall Street to Go All in on Crypto In an exclusive interview “I was led away from Wall Street for two primary reasons. The first is the tremendous opportunity I believe is inherent in the space. This is an incredibly immature industry with enormous potential for well-run projects. The second reason is that this technology has the potential to change the world for the better by empowering some of the most disaffected people in the world with a greater degree of financial freedom. It is truly an exciting place to be working.” Dash is a cryptocurrency and a digital autonomous organization (DAO) aimed at enabling merchants to handle private payments in crypto. The currency has been ad...

Bitmain has announced the launch of two internet routers that can mine Dash and Siacoin. In a tweet shared online, the company said the new miners, known as the Antrouter R3-DASH and Antrouter R3-SIA, will function as internet routers that can mine cryptocurrencies at the same time using the devices’ idle processing power. The routers are models from Bitmain’s R3 series of products, which already includes the R3 Litecoin Mining Router. Earlier this year, Canaan Creative, the second largest manufacturer of mining equipment in the world launched the AvalonMiner Insider, a smart TV that doubles as a bitcoin mining device with the capacity to process 2.8 trillion hashes per second. As expected, the capabilities of these dual-purpose miners are limited compared to professional miners. It also seems to be targeted at amateur miners who are not after making profits, but love the idea of mining cryptocurrencies. The product page of the Antrouter R3-DASH’s shows the specificatio...

Cryptocurrencies are designed to be used as a payment method first and foremost. Most top cryptocurrencies have lost track of the bigger picture in this regard. Dash, a privacy-oriented coin, aims to make a big splash in this regard. Their infrastructure has evolved in such a way it caters to merchants all over the world. The Future of Dash Unlike Bitcoin and Ethereum, Dash is not content with being a speculative cryptocurrency. Instead, it is designed to be a payment currency first and foremost. Opinions among financial experts differ greatly when it comes to using cryptocurrencies for payments. Most financial experts don’t see a bright future ahead in this regard. It is up to individual coin developers to ensure the outcome is very different. Ensuring that Dash can become a payment method requires key features. It needs to be fast, secure, and intermix with cash or payment cards. The first two aspects can be solved by most other cryptocurrencies on the market today. I...

Ecobank Report Finds Significant Presence of Crypto in 36 African Countries A report published by the pan-African bank, Ecobank Transnational Inc., has found that despite cryptocurrencies exerting a notable presence in each of the 36 African countries in which the company operates, only South Africa and Swaziland have adopted a “generally favorable and permissive [regulatory] stance” pertaining to cryptocurrencies. Africa’s Regulators Adopt ‘Wait and See’ Approach Regarding Cryptocurrencies Ecobank’s report finds that “As in many other parts of the world, African governments and central banks are mostly adopting a ‘wait and see’ approach when it comes to regulating cryptocurrencies.” The report states that “Many African governments and regulators recognize both the risks and the potential positive impacts of cryptocurrencies,” and that some African governments have shown an “appreciat[ion of] the difference between cryptocurrencies and the underlying blockchain technology....

The bitcoin cash (BCH) centric wallet Electron Cash has seen a bunch of development with Coinshuffle integration, and a new iOS version of the wallet. Now another version of the Electron Cash wallet has launched which can run on basic feature phones (Nokia-style) adding more versatility to the BCH ecosystem. Electron Cash Can Now be Installed on Nokia Style Feature Phones Last February the Electron Cash lead developer, Jonald Fyookball, announced the development team would be funded by the firm Coingeek, and Electron Cash would launch a bunch of new features over the course of the year. So far the team has launched a new iOS version of the wallet and added a Coinshuffle plugin to the client’s desktop version. Now, this week the Electron Cash team has released a Java Micro-Edition of the wallet (J2ME) which makes the client available to feature phones much like the popular and less sophisticated Nokia phones. Over 1.3 Billion Feature Phone Users Can Now Use the Bitcoin Cas...

One of the largest cryptocurrency exchanges in India, Zebpay, has enabled Trueusd (TUSD) trading, deposits and withdrawals. The dollar-pegged stablecoin is offered as an alternative to fiat trading which is problematic under the Indian central bank’s ban. Zebpay Enables Trueusd Mumbai-headquartered cryptocurrency exchange Zebpay has announced the addition of Trueusd (TUSD) trading, deposits and withdrawals going live, starting today, August 6, 2018. Trueusd is part of the recent torrent of so-called stablecoins to have hit the market as fears around the performance of Tether (USDT) refuse to die down. According to its promoters, each TUSD can be redeemed 1-for-1 for US dollars. Trust Token is said to partner with registered banks and fiduciaries to securely hold the funds backing the tokens. And for increased security, the banks and fiduciaries handle all funds directly. Moreover, the Trueusd system supposedly does not handle or even have access to the escrowed ...