Prediction Market Augur’s Latest Trending Bet Is On President Trump’s 2019 Impeachment

You may have already heard about Augur, the blockchain-based prediction market. The people at the market predicted that the Democrats would win in 2018, that Brett Kavanaugh would go to the Supreme Court and now they are betting on whether Trump will be impeached or not.

Curiously, the network is split down the middle at the moment. While some people believe that Trump will be impeached, others don’t think that is likely to happen.

Augur is a free network in which people can bet on anything they want. As the platform is decentralized, governments have a hard time stopping the users (and most likely are not very concerned).

Because of this, someone created a bet asking “Will Donald Trump be impeached by the end of 2019?” At the moment, each side has about 50% of the votes, something that does not happen too often.

There are several other similar questions, too, which have a lower stake. In some, Trump is impeached, in others, he stays. In the centralized prediction platform PredictIt, however, most people believe that Trump will be impeached.

The only major concern which has already raised by some in Augur, is that it isn’t really clear what this means for Trump to be impeached in some cases. If the Congress votes for it, does it count if the Senate disagrees?

If this happens, the network will have to decide how to move forward. If no consensus is reached, both sides will get their money back, as there will be no way to determine the winners.

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Author: Silvia A

UK Based Exchange Bitstamp Integrates Ledger Vault To Securely Store Crypto Assets

The largest crypto exchange by volume in Europe, Bitstamp, has recently announced that it would integrate the technology of Ledger Vault to its services. This, the company affirmed, would help it to offer advanced custody services for its clients.

Ledger Vault would provide Bitstamp with a more flexible wallet structure and it would set up a custody system for the company. With the partnership, Bistamp would be able to create end-to-end hardware-backed transfers and allow its clients to use multi-authorization governance models. This would be important because it would allow the exchange to upgrade its storage systems and options.

David Osojnik, the CTO of Bitstamp, affirmed that the main priority of the company regarding the subject is to offer the ultimate level of security so that the clients will know that their funds are safe. According to him, Ledger Vault is the perfect company to provide that.

The agreement states that Bitstamp will always have full control over the private keys of the wallets, which means that it will have 100% control over the wallets.

Ledger’s CEO Pascal Gauthier affirmed that crypto assets are more vulnerable than other types because they are fully digital. Because of this, the company develops solutions that can help companies that want to take the next step when it comes to the security of these assets.

Pascal defined himself as “thrilled” to see Bitstamp adopting the Ledger Vault technology and he believes that this will certainly enhance the agility and the security of the funds, which will translate into growing the confidence and the trust that the clients have in the company’s care for their digital assets.

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Author: Gabriel Machado

DappRadar Releases A Full EOS Tracker, Revealing $1 Billion In Hidden Volume; ETH And TRX Coming Soon

DappRadar, the ranking and tracking site for decentralized apps (dapps) on the EOS blockchain has added a new feature which now monitors the volumes of both EOS as well as tokens developed on the EOS platform, Decrypt reports.

According to DappRadar, other sites that tracks the volumes of the EOS crypto do not track the value created by the trading of tokens which are not native to the blockchain such as tokens which are traded on decentralized exchanges or ones that are used in game currency.

DappRaddar claims that the phenomenon presents about 25% of volume into the EOS blockchain which goes unaccounted. As per today’s total trading volume which is $12 million, whereby, $9 million represents the EOS while $3 million is for other EOS based tokens.

According to DappRadar’s brand communication manager, Jon Jordan,, this represents an underestimation of the EOS ecosystem by about $1 billion. To arrive at the figure, Jordan multiplied $3 million by 365.

Jordan also explained that DappRadar will henceforth rank EOS dapps as per the total volume of the entire EOS-backed tokens going through smart contracts. He explained:

“This will greatly increase the transparency of value creation on the EOS blockchain, especially for decentralized exchanges that support the trading of EOS-based tokens.”

The latest announcement comes as a major boost for decentralized exchanges within the EOS platform that trade more tokens other than EOS. Prior to the new update, DappRadar realized that Newdex exchange had about $1.8 million worth of EOS trading volume every day but after the update, the value surged by a further $1.6 million worth of trading volume per day.

DappRadar also gave another example of Wild-West game Prospectors that utilizes an EOS-based Prospectus Gold (PGL) that was not present for ranking. The addition of the token brought about $3000 worth of extra trading volume every day.

In due course, DappRadar says it is planning to launch the new feature in Ethereum as well as other blockchains.

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Author: Joseph Kibe

Next Bitcoin Halving Is 211 Days Away; With Smaller Miners Pushed Out How Will BTC Price React?

Bitcoin is about to halve its rewards soon and the crypto community is speculating about what will happen. After the two first halvings, which occurred in 2012 and 2016, another one is being expected for 2020. Both times that the rewards were halved before marked the beginning of a bull run that took the network to new highs.

Last week, several miners reunited at the World Digital Mining Summit, which was organized by Bitmain in Frankfurt. During the event, the co-founder of Bitmain, Jihan Wu, seemed pessimistic about the halving.

Wu pointed to Litecoin, which had it’s rewards halved some weeks ago. The price of the asset went down, not up. Litecoin’s price went from $31 to $135 USD during the year and then fell again to $57 USD after the halving. Could something similar happen to Bitcoin?

He also affirmed that people didn’t know what to expect during the first and second halving, but now people are betting that the price will go up. If it does not, there is a big possibility that the market sentiment may turn sour.

Another reason why this might be bad news, is that several ASIC miners will not be profitable to use anymore. The Antminer S9, for instance, was a very popular model, but it is barely able to make a profit now, so after the halving, the situation might become worse.

Marco Streng, the CEO of Genesis Mining, affirmed that only the strongest miners will remain. Retail miners are very likely to be pushed outside of the market and only the major mining companies will still be competitive unless prices go up as expected.

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Author: Gabriel Machado

Grayscale’s Crypto Assets Inflows Increased By $250 Million In Q3; Showing Strong Demand

Grayscale Bitcoin Trust released its Q3 2019 report earlier on Tuesday, October 15, 2019 showing increased interest in institutional investment in the crypto industry.

The “Digital Asset Investment Report Q3 2019” states Grayscale holds a total of $2.1 billion USD in crypto assets under management. Grayscale enjoyed a boost in AUM value despite the price of Bitcoin plummeting from $12,000 USD to $8,100 USD during the period.

‘Over $75 million USD inflows in a day’

According to the report, the crypto asset management firm’s AUM has increased by $382 million USD since the start of the year.

The Grayscale Bitcoin Trust (GBTC) product contributed to over 60% of the total inflows averaging $7.1 million USD weekly. The weekly average inflows of the rest of cryptocurrencies including Ethereum, ZCash and Ethereum Classic stands at $2.7 million USD.

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Grayscale’s AUM grew to $412 million USD in the past one year as institutional investment grows. In a statement on the massive AUM growth during the third quarter, managing director, Michael Sonnenshein, said,

“I actually think that we had a day where we raised over $75 million in a single day — which was the largest inflow we ever had in a single day.”

GBTC investments boss inflows in Q3 2019

In Q3 2019, the company witnessed huge inflows of crypto assets following a highly successful #DropGold campaign, which lured U.S investors to switch from the shiny precious metal to digital gold.

According to the report, an average of $19.6 million USD entered Grayscale’s coffers, totaling $254.9 million USD in the three months. GBTC investments remained popular through the year raising $13.2 million during Q3 2019, representing 67% of the total investments during the quarter.

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Excluding the flagship GBTC product, the company’s alternative crypto assets grew by $107 million USD during the quarter. On Monday, the Financial Industry Regulatory Authority (FINRA) approved the trading of Grayscale Digital Large Cap Fund (GDLCF) on OTC markets in the U.S.

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Institutional investment is growing

Over 84% of investment in Q3 came from institutional investors including legacy finance and crypto related hedge funds. However, a large number of investors are not native to the crypto field as Sonnenshein explained,

“Most of our institutional investors are actually not crypto hedge fund. It really runs the gamut — we have tons of global macros funds who maybe look at digital assets as a way to be short fiat money or thinking about all the economic and political turmoil going on globally.”

Images sourced from Grayscale Digital Asset Investment report Q3 2019: https://grayscale.co/insights/grayscale-q3-2019-digital-asset-investment-report/

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Author: Lujan Odera

Death By Abandonment’ Is Reason Most Crypto Projects Die Before Their 2nd Birthday: Longhash

In efforts to understand the major causes leading to the demise of many crypto projects, blockchain education platform Longhash dug into Coinopsy’s data to come up with conclusions on what kills crypto projects.

The analysts examined 700 crowd sourced projects in a span of 8 years and came up with a conclusion that majority of crypto projects had died due to abandonment which accounted for 63.1% of the dead crypto projects.

According to an article released by Longhash, crypto projects dying as a result of abandonment were mostly due to the investors halting trading an asset which led to volumes dropping to zero. These projects, on average, had a lifespan of about 1.6 years.

The research also identified that scams accounted for about 29.9% of the dead crypto projects making it the second most prevalent cause. The researchers found that 2017 recorded the highest number of scams in the crypto industry. The number of projects dying due to scam increased five-fold as per the researchers as indicated below.

The report by Longhash also identified three people who were severely implicated in three distinct dead scam projects mentioning Bitcointalk user Crunck as well as another person going by the name Daniel Mendoza.

The other category of dead crypto projects identified by Longhash was joke projects like AnalCoin, BieberCoin as well as BagCoin. This category accounted for 3.2% of dead crypto projects and had an average lifespan of about 1.4 years.

Longhash’s report indicates that its difficult to quantify the exact number of dead crypto project since most of the data is crowdsourced. The report also notes that there is little consensus on what constitutes a dead crypto project.

Cointopsy has listed 705 projects as dead, DeadCoins has listed 1779 as dead while CoinMarketCap has more than 1000 projects that record less than $1000 every day in terms of trading volume as near their death or lifeless.

Cointelegraph reports that in its recent research, it was found that the most common causes of crypto projects deaths were low liquidity, fraud, lack of utility as well as poor management.

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Author: Joseph Kibe

Layer1 Raises $50M From Investors Like PayPal’s Co-Founder, To Build Wind Powered Bitcoin Miners

Bitcoin (BTC) mining industry is a lucrative and profitable industry that is witnessing a swelling growth in the number of companies entering the field. The U.S still lags behind in the industry as Chinese mining firms and chip makers hold 60% of the global BTC mining business – compared to U.S’s 5% capture of the mining business.

However, one startup –backed by Digital Currency Group (DCG) and raised $50 million USD in a Series A funding at a $200 million USD valuation – is looking to triple U.S market control in BTC mining.

Layer 1 raises $50 million in series A funding

Layer 1 raised $50 million in a series A funding led by DCG and top investors including Peter Thiel, co-founder of PayPal, Shasta Ventures, and other respected crypto investors. The company will set its operations in Texas and use renewable windmill generated electricity to mine Bitcoins. Once the company begins operation in 2020, it is set to become the largest mining firm at scale in the country.

According to the co-founder of Layer 1, Alexander Liegl, the firm is set to rival the domineering Chinese companies in the BTC mining market by minimizing costs of electricity and optimizing efficiency of the mining chips. Alexander said,

“We expect our chips to be competitive for at least eight years now…you want to have your own chips in hand. We also have our own electricity substations: effectively that’s as close you can get to own your own power plant.”

A lukewarm situation in Texas

Texas ranks as one of the most crypto mining friendly states in the U.S due to its cheap energy sources. According to the Department of Energy, 15 percent of the total electricity consumed in the state comes from wind with the prices among the lowest across the globe. However, the high temperatures in the region make it almost impossible to effectively run a mine in the state.

Layer 1 is employing a highly technical cooling system on the miners to prevent burning up or malfunction. The development team of company are working on a system that employs a liquid-cooling component to lower the mining system’s temperatures.

All in all, Liegl believes the San Francisco based company will heavily benefit from the cheapest rates of electricity to offset the heat problem. He further spoke to Coindesk on a phone call saying,

“I love the place. It’s so private-market-friendly. Bitcoin mining is pretty compelling to people out there because it’s pretty analogous to how oil and gas works.”

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Author: Lujan Odera

CoinField’s Secret XRP Ledger Project Sologenic to Tokenize Stocks & ETFs

  • A project to facilitate mass adoption of cryptocurrency by allowing investment in stocks
  • Sologenic: Solo coin, XRPL-based DEX, Crypto Cards

Cryptocurrency exchange CoinField has finally revealed the details of its “secret” XRPL project, Sologenic. This ecosystem facilitates the trading of on-demand tokenized assets including stocks and ETFs from over 25 global stock exchanges or fiat backed stablecoins on top of the XRP Ledger.

As such, stocks like Tesla and Apple will be tradable on the XRP Ledger (XRPL).

“This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!” said Bob Ras, CoinField CEO.

Upcoming Projects: XRPL-based DEX and Crypto Cards

The exchange will leverage its Solo (Ƨ) coin, paired with fiat with third-party brokerage firms, to settle to bridge the crypto assets and stocks. For instance, USD would become USDƨ and Tesla shares would be converted to TSLAƨ, a tokenized stablecoin version of TSLA.

These crypto assets will be tradable against Solo and XRP on CoinField exchange and XRPL DEX. The decentralized exchange is one of its “most exciting” upcoming projects that is built on top of XRP Ledger enabling users to trade issued tokenized assets for XRP or SOLO.

Crypto Cards is another of its upcoming project that will allow the holders to spend their cryptos instantly anywhere in the world.

Coming in 2020

Launched in February 2018, CoinField enables trading against six fiat currencies. The Canada-based platform is currently in the process of transferring its headquarters to Spain.

Just last week the exchange launched an XRP validator and joined Ripple’s “Unique Node List” of trusted tier-one validators on the network. CoinField partnered with the founder of XRPL Labs Wietse Wind, online banking firm Cashaa, and top security legal firms to build the project Sologenic that has been in development for the past six months.

While the SOLO token will be released in December 2019 followed by VIP Pre-sale, it will officially launched in Q1 with a public IEO.

Crypto Cards will be introduced in late Q1 while decentralized exchange will be launched in Q2 2020. But users have to wait until later in the year to trade securities on the platform.

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Author: AnTy

Swedish Central Bank Head: Facebook’s Libra Was A ‘Shake The Tree’ Event To Kick Start Reform

Sweden’s central bank chief has explained that Facebook’s Libra cryptocurrency should serve as a catalyst for central banks around the world to rethink their role and reform to incorporate the digital age.

In an interview with CNBC’s Squawk Box Europe Stefan Ingves, governor of the Riksbank, explained that the Facebook’s led Libra project was an ‘incredibly imperative catalytic event’ that is forcing central banks around the world to rethink their primary aspect of money production and control.

The governor explained that part of the job for every central bank is to issue money that is convenient for use by the citizens of the country and the time has come for central banks to factor in the digital era or age when it comes to production of money.

According to Ingves, the Riksbank has had to reconsider its money development procedures in the wave of private currencies that have mushroomed in the recent past. In light of this, the Riksbank has been looking at the potential of issuing digital money even as use of cash in Sweden has declined tremendously in the recent past. Most of retail outlets in the nation do not accept physical or fiat currencies and are discouraging their customers from paying in cash.

The swedish central bank is in the process of piloting a digital currency dubbed e-krona before the end of the year and could be rolled out after the assessment of the piloting stage. According to Ingves, creation of a new currency is almost done and marks an unprecedented event that occurs only once after various centuries.

Sweden is not the only country that exploring the digital money aspect. Since Facebook announced its plans to venture into the digital currency market with its Libra cryptocurrency in June. Key among them is China which is developing its own digital currency to counter Libra with Chinese central bank announcing the project is almost done and launching will be done soon. Additionally, Swiss central bank announced last week that it was looking at how the virtual currencies could be used in trading.

CoinDesk reports that the Libra Association met in Geneva on Monday to agree on an official charter for its 21 initial members.

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Author: Joseph Kibe

Nasdaq Adds CIX100 Index For Top 100 Cryptos; Using AI To Eliminate Fake Volumes Coins

Nasdaq, the second-largest stock exchange in the world, has unveiled a new index related to the crypto world. The AI-powered crypto index is called CIX100 and was created by Cryptoindex.

According to the official press release, this is a new crypto market benchmark that uses algorithms to analyze the data from the top cryptos. With its neutral network algorithms, the program is able to take into account over 200 factors.

One of the highlights of the tool is to completely “human-free” and to detect fake volumes, which helps to avoid using them. All the data is taken from the largest crypto exchanges in the market and only tokens that are able to remain in the top 200 for at least three months consecutively are counted.

The CIX100 index is also set to be listed at other sites such as Reuters, TradingView and Bloomberg and its AI-based predictions have an accuracy of 82%, which can be considered a good number.

Indexes are certainly gaining space in the market. Nasdaq recently teamed up with CryptoCompare, for instance, to release a new aggregate index dataset that would help institutional customers. CryptoCompare also partnered with other platforms such as BitMEX to provide information about the crypto derivatives market.

Another similar project comes from Sina Finance, a major financial site owned by Sina Corp, a technology company in China. This crypto index has been included in the mobile app of the company a few months ago.

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Author: Gabriel Machado