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Why Ripple Is Not Cashing Out Its Xrp Holdings

Why Ripple Is Not Cashing Out Its Xrp Holdings

Ripple could bring in hundreds of millions of dollars a month by selling a tiny fraction of its XRP holdings. The company put 55 billion XRP in an escrow account, which allows it to sell up to 1 billion every month. Ripple can sell XRP if it needs to make acquisitions or fund new projects. Sixteen months ago, Ripple raised $55 million by selling equity in a typical Silicon Valley funding round from strategic investors, following earlier financing from Alphabet 's GV (Google Ventures), Andreessen Horowitz and others. The round placed the value of the company around $400 million . Today the San Francisco start-up could bring in many times that amount of cash every month -- if it wanted to -- without giving up any company ownership or control. Ripple develops software that banks use for fast global financial settlements. But almost all of its current value comes from being the creator and majority holder of XRP , a digital currency that was obscure a year ago, but now has a total market value of about $130 billion. XRP, which trades publicly like bitcoin, went on an inexplicable rally starting last year. Even after plummeting from a high of $3.84 in early January to $1.30 (including a 30 percent drop on Tuesday), it's still up almost 200-fold in the past 12 months. Ripple owns about 60 billion of the 100 billion XRP created, giving it a market value -- based just on its holdings -- of close to $80 billion. The company's revenue is unknown, although CEO Brad Garlinghouse told CNBC that some banks are paying the company millions of dollars for its software. Regardless, $80 billion is far ahead of where any reasonable investor would value the company. Ripple has placed limitations on how much XRP it can sell each month to remove the concern that it will suddenly flood the ma Continue reading >>

Etoro Market Hours And Fees For Financial Instruments

Etoro Market Hours And Fees For Financial Instruments

eToro (Europe) Ltd., a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10. eToro (UK) Ltd, a Financial Services Company authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263. Past performance is not an indication of future results. General Risk Disclosure | Terms & Conditions CFDs are leveraged products and are considered to be speculative and complex products. Trading in CFDs related to foreign exchange, commodities,indices and other underlying variables, carries a high level of risk and can result in the loss of all of your investment. They are difficult to understand and are appropriate only for experienced investors. You should not invest money that you cannot afford to lose. You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade. Under no circumstances shall eToro have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs or (b) any direct, indirect, special, consequential or incidental damages whatsoever. Cryptocurrencies markets are unregulated services which are not governed by any specific European regulatory framework (including MiFID). Therefore when using our Cryptocurrencies Trading Service you will not benefit from the protections available to clients receiving MiFID regulated investment services, such as access to the Cyprus Investor Compensation Fund (ICF)/the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service for dispute resolution. Trading with eToro by following and/or Continue reading >>

Does The Crypto Currency Market Close?

Does The Crypto Currency Market Close?

Answered Dec 30, 2017 Author has 507 answers and 447k answer views The cryptocurrency markets never close, there are no opening or closing prices that we can identify. The workaround that is currently in place is to calculate the 24-hour price change by comparing the current market price to the price a given cryptocurrency was trading the day before at exactly the same time. (CurrentPrice - 24HourAgoPrice) / 24HourAgoPrice * 100 Or, more simply: Price / 24HourAgoPrice * 100 Take a look at the stock price change formula and compare it to the cryptocurrency price change formula. Did you notice that in the stock price change formula the denominator, which represents yesterday's closing price, stays the same all day, while the cryptocurrency denominator keeps changing throughout the day? Whats the practical effect of this rolling denominator? In the simplest terms, it means that if youre just looking at the percentage change over the last 24 hours, you cant tell whether you're seeing real-time price movement in the cryptocurrency or just residual price volatility from the day before. If youre a long-term investor in cryptocurrency, you may not worry too much about 24-hour price gyrations but its still important to understand what the data youre looking at is measuring. Continue reading >>

Crypto Regulations Not Close Us Security Coordinator Says At Conference

Crypto Regulations Not Close Us Security Coordinator Says At Conference

Crypto Regulations Not Close US Security Coordinator Says At Conference The US is still absolutely studying cryptocurrency and regulation is far off, cybersecurity coordinator Rob Joyce has confirmed. A major US government security figure recently stated that regulation of cryptocurrencies by Washington is not close, CNBC reports Feb. 16 . In comments which echo those from various US regulatory circles this year, special assistant to the president and White House cybersecurity coordinator Rob Joyce told the Munich Security Conference Friday that plans were still in the studying phase. I think we're still absolutely studying and understanding what the good ideas and bad ideas in that space are, he said on the topic. So, I don't think it's close. Bitcoin circles reacted positively to the decision by the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to adopt a hands-off approach to crypto regulation going forward. Statements by chairmen Jay Clayton (SEC) and Christopher Giancarlo (CFTC) earlier in February made clear that foul play involving cryptocurrencies is the authorities main preoccupation, while the phenomenon itself would be treated as inherently unwanted. Joyce also stated that crime involving cryptocurrencies was a worry, despite increasing evidence that such criminal activity is not as widespread as many fear. We are worried. There are benefits to the bitcoin concept - digital cash, digital currencies, he continued. But at the same time, if you look at the way bitcoin works after there is a criminal act that takes place, you can't rewind the clock and take back that currency. Bitcoins traceability has meant malicious parties run an increased risk of being found, while other cases involving altcoins are also far from Continue reading >>

Which Markets Are Closed On Presidents Day?

Which Markets Are Closed On Presidents Day?

Which markets are closed on Presidents Day? Presidents Day is observed on the third Monday in February. U.S. financial markets will be closed Monday, Feb. 19, in observance of Presidents Day, perhaps giving traders some time to reflect on the latest market turbulence that gave us the first correction in about two years. The New York Stock Exchange and Nasdaq will be closed on Monday. Meanwhile, the Securities Industry and Financial Markets Association (SIFMA) recommends no trading in dollar-denominated securities, including bonds, money markets and certificates of deposit. Trading in futures and options on CME Group exchanges will be halted on Monday. There will be no economic releases on Monday, as all federal and state agencies and offices will be closed. Commercial banks will also be closed. Cryptocurrency exchanges, which normally operate 24/7, are expected to be open, as will equities markets in Europe and elsewhere outside the U.S. The S&P 500 SPX, +0.15% last week tumbled 10% from its January peak, though it had recovered about a third of the losses by Wednesday, closing at 2,698.63. The recent spike in volatility appeared to rattle the president, who had previously taken credit for big gains in the stock market since his election to the office. In the old days, when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy! Donald J. Trump (@realDonaldTrump) February 7, 2018 The selloff in late January and early February was triggered by fears over accelerating inflation and higher interest rates, which are largely viewed as precursors to even tighter monetary policy. International as well as foreign-exchange markets will be open. Howe Continue reading >>

How China's Stifling Bitcoin And Cryptocurrencies | Fortune

How China's Stifling Bitcoin And Cryptocurrencies | Fortune

China, home to the worlds biggest community of Bitcoin miners, is cracking down on cryptocurrency activity. From a halt to virtual currency trading on domestic exchanges to banning initial coin offerings, regulators have taken a proactive role in shaping the stratospheric rise of Bitcoin and its peers. The countrys moves come as President Xi Jinping targets financial risk in the economy following a decade of booms and busts in everything from stocks to real estate. The result: Chinas once-dominant role in the world of cryptocurrencies is shrinking. First it banned initial coin offerings, or ICOs the equivalent of initial public offerings for new virtual currencies. Then it called on local exchanges to stop trading in cryptocurrencies and outlined proposals to discourage bitcoin mining the energy-intensive computing process that makes transactions with the digital currency possible. Its also moved to stop Chinese companies listed abroad skirting its domestic ban on ICOs. (New York-listed Renren Inc. was said to cancel a planned overseas ICO). Officials now intend to block domestic access to online platforms and mobile apps that offer exchange-like services for cryptocurrencies. Domestic stock exchanges, too, are targeteing companies that promote themselves as blockchain-related to boost their shares. Its part of a concerted effort by agencies including the central bank, the cyberspace administration and Chinas Ministry of Industry and Information Technology. Bitcoin and its peers can still be traded, but only in over-the-counter markets, a slower process that some analysts say increases credit risk. Theres been no explicit explanation, but cleansing risk from financial markets has been a government mantra for more than two years. Among the main concerns is the booming s Continue reading >>

'impossible' To Shutter Cryptocurrency Exchanges, Govt. Lacks Authority: Korea's Fair Trade Chief

'impossible' To Shutter Cryptocurrency Exchanges, Govt. Lacks Authority: Korea's Fair Trade Chief

Impossible to Shut Down Cryptocurrency Exchanges, Govt. Lacks Authority: Koreas Fair Trade Chief Join our community of 10 000 traders on Hacked.com for just $39 per month. The chairman of Koreas Fair Trade Commission the economic competition regulator has blasted efforts to shutter cryptocurrency exchanges before calling on the government to regulate the industry instead. In a radio interview yesterday, FTC chairman Kim Sang-Joo plainly opined it is not realistically possible to shut down cryptocurrency exchanges, adding that the law does not permit authorities like the justice ministry to close cryptocurrency exchanges. In quotes reported by JoongAng, Koreas largest media network, Kim said of the proposed ban in translated statements by CCN: [Shutting down cryptocurrency exchanges] is not realistically possible. Based on electronic commerce law, the government does not have the authority to close down cryptocurrency trading platforms. The official was offering his take on the recent controversial statements by the countrys justice minister Park Sang-ki. In a press briefing a week ago, the latter revealed the ministry was preparing legislation that basically bans any transactions based on a virtual currency through trading. In essence, a complete shutdown of domestic cryptocurrency exchanges would be one of the goals we are aiming for, justice minister Park said. The backlash from the Korean public was immediate and fierce, compelling the official office of the Korean president to release a statement cooling fears of a ban on trading, on the same day of the justice ministers statement. The statement is particularly notable, coming from the chairman of the countrys economic competition regular and a member of South Koreas cryptocurrency task force an inter-governmental Continue reading >>

What Are The Opening Hours Of The Cryptocurrency Market? - Quora

What Are The Opening Hours Of The Cryptocurrency Market? - Quora

What are the opening hours of the cryptocurrency market? WePower - blockchain based green energy trading network. WePower token is backed by green energy. Token grows with platform expansion. Backed by biggest funds. Never opens, never closes. There is action in relation to the clocks of relative markets but crypto is 24/7. Since it is world wide, there is no open and close, you can trade 24/7. Continue reading >>

China: After Banning Exchanges, Authorities Move To Close Exchange-like Services

China: After Banning Exchanges, Authorities Move To Close Exchange-like Services

China: After Banning Exchanges, Authorities Move To Close Exchange-Like Services China is attempting to add new restrictions to the countrys cryptocurrency exchange ban, targeting entities providing market-making, say anonymous sources. Chinese authorities are quietly stepping up a crackdown on cryptocurrency exchanges to include market-making platforms and similar services, according to anonymous sources cited by Bloomberg in an article Monday, Jan. 15. As attention focuses on South Koreas regulatory battle with cryptocurrency trading, Bloomberg reports that across the border, where official crypto-to-fiat exchanges have been banned since September, exchange-like services are now also on officials radar. According to anonymous sources, the government now plans to block domestic access to homegrown and offshore platforms that enable centralized trading while remaining silent on how policy makers define such platforms. The move is allegedly in response to an uptick in trading activity. Chinese investors have sought to circumvent Septembers exchange ban by resorting to alternative trading environments such as peer-to-peer platforms and over-the-counter deals. Popular peer-to-peer trading site Localbitcoins saw the impact of the ban in numbers as traders piled in, generating record volumes, which in September hit as high as 115 mln yuan ($17.8 mln) per week. While the sources told Bloomberg that small peer-to-peer transactions arent being targeted, it remains to be seen whether the Localbitcoins phenomenon forms part of the investigation spectrum. Meanwhile, with the worst of the turbulence in Seoul apparently over , Bitcoin prices picked up in Mondays trading, posting daily gains just over 6% according to averaged exchange data from CoinMarketCap. Continue reading >>

Exchanges - Bitcoin Market Hours (open/close Prices) - Bitcoin Stack Exchange

Exchanges - Bitcoin Market Hours (open/close Prices) - Bitcoin Stack Exchange

If Bitcoin trading never stops then what does it mean when news sites and others talk about bitcoin opening or closing at a certain price, and why is this terminology used? Could two people mean different things when they talk about the closing price at the same date? (apart from price differences between exchanges) In 24 hour markets High and Low usually mean "highest/lowest price in last 24 hours". Open generally refers to the price at 12:01 AM UTC of any given day and close generally refers to the price at 11:59 PM UTC of any given day. Traditional markets are not open for trade all day, so the opening and closing price refer to the first and last price of the day. They are used as measurements for the trading activity of a day. Since Bitcoin exchanges are open 24/7, I would expect the opening price to refer to the price at midnight and the closing to refer to the priceat 23:59:59 in the exchange's respective timezone. Since closing of the previous day is essentially the same as opening of this day, some pages such as e.g. CoinDesk only show the closing values for the historical data. Closing price should always be the last price of the day, so it should be unambiguous. What about timezones? Dr.Haribo Oct 28 '15 at 7:17 Well, it's the opening and closing of the market, so it should be in respect to the market's timezone. I.e. if you were in London, for you a market in Shanghai would open at 4pm (UTC+8), a market in Berlin at 11pm (UTC+1), and a market in NYC at 4am (currently UTC+4, due to their summertime being longer than Europe's). Murch Oct 28 '15 at 8:33 So pretty clear if talking about a specific exchange, and pretty confusing if saying "bitcoin closed at X" (of course that is also confusing because the price differs between exchanges) Dr.Haribo Oct 28 '15 at Continue reading >>

Is It Ethical To Invest In The Petro? A Close Look At Venezuelas New Cryptocurrency

Is It Ethical To Invest In The Petro? A Close Look At Venezuelas New Cryptocurrency

Is it Ethical to Invest in the Petro? A Close Look at Venezuelas New Cryptocurrency Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn On the 3rd of December 2017, controversial Venezuelan President Nicols Maduro announced a surprising new initiative aimed at addressing Venezuelas economic turmoil the development of a state-backed cryptocurrency called the Petro. The announcement sparked international debate on the political, legal, and economic implications of the move. With the Petro crowdsale now live, many investors are asking: is it ethical to invest? Answering this question requires careful analysis Venezuelas political and economic situation, as well as an examination of the technical architecture of the Petro itself. There appears to be a lack of consensus regarding the legitimacy of the Petro under international law, as well as conflicting or even outright falsified information on the performance of the Petro pre-sale. Is the Petro a stable solution to Venezuelas economic woes, or simply a form of illegal oil futures? Has the Petro presale really raised $735 million? Or has it failed to move at all? With the Petro capturing the attention of market observers and investors worldwide, well proceed to take a close look at Venezuelas new cryptocurrency and present a clear, unbiased assessment of Maduros El Petro. Understanding the controversy that surrounds the Petro requires a brief introduction to the current economic and political landscape of Venezuela. The Venezuelan economy is primarily driven by the petroleum sector, which accounts for more than 50% of the nations GDP. Oil reserves first discovered in 1922 resulted in Venezuela developing into an international petroleum powerhouse, launching it into the top 5 wealthiest nations per capita Continue reading >>

Closed Virtual Currency

Closed Virtual Currency

Technology advancements all over the globe are driving disrupting changes in the traditional way of doing things including the way goods and services are acquired and paid for. The rise of e-commerce and virtual community platforms has led to a demand for alternative means of conducting transactions. One rapidly evolving payments technology that is making waves in the digital world is virtual currency. Virtual currency is a type of digital money that is used to purchase real-world goods or services online, but has no legal tender status in some countries. From an economic and legal standpoint, virtual currency is not recognized as a full form of money. Virtual currency can be either open or close in regards to its reach. An open virtual currency is one that can be substituted for real money using online exchange systems or ATMs that are designed for virtual to real currency exchanges. An example of an open virtual currency is Bitcoin , the most popular decentralized cryptocurrency online. Because open currencies have a determinable value in real money and can be exchanged for real money, they are treated as properties or capital assets for tax purposes in the US. Closed virtual currencies were created to operate in closed-loop environments, and are limited to transactions in virtual goods within the closed environment. A closed platform allows for real currency to be exchanged for its virtual currency. In contrast, open virtual currencies can be redeemed for real goods and real currency. The currencies used in many online games are closed. Virtual assets acquired in-game can be traded for other in-game tools or currency and therefore, do not produce any taxable income . Examples of closed-loop virtual gaming platforms and their specialty currencies include: World of Wa Continue reading >>

Bitcoin Price Drop Feb 5 Approaches $7,000 - Business Insider

Bitcoin Price Drop Feb 5 Approaches $7,000 - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Business Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our Bitcoin dropped back below $8,000 a coin on Monday morning. By mid-afternoon, it was approaching $7,000 per coin. After having a rough time last week, the cryptocurrency market remains under pressure. Last week's sell-off was driven by an investigation into tether, a cryptocurrency that some fear has been used to inflate the value of bitcoin . LONDON The price of bitcoin dropped back below $8,000 a coin and closed in on the $7,000 on Monday amid persisting high volatility in the cryptocurrency markets. Bitcoin initially dropped below $8,000 on Friday during a wild day of trading that saw the cryptocurrency drop by as much as 15%, to a low of $7,700, before jumping and eventually ending the day in positive territory, close to $9,000. After a reasonably stable weekend of trading, bitcoin's slump resumed Monday, falling as much as 12% during afternoon trade. As of 3.30 p.m. GMT (10.30 a.m. ET), bitcoin was approaching $7,000 per coin, trading at $7,297, a drop of 11% from its opening price, as the chart below illustrates: The crypto market has been on the back foot since the start of the year, hit by fears of a regulatory crackdown and slipping Asian volumes . Bitcoin is now at less than half its December peak of over $19,000. Monday's drop comes amid announcements from numerous major banks prohibiting the use of their credit cards to buy bitcoin and other cryptocurrencies. In the US, JPMorgan Chase, Bank of America, and Citigroup have announced bans, while Lloyds Banking Group is expected to do the same in the UK on Monday . Confidence has also been dented after reports that China is planni Continue reading >>

South Korean Regulator: In Reality Impossible To Close Cryptocurrency Exchanges

South Korean Regulator: In Reality Impossible To Close Cryptocurrency Exchanges

South Korean Regulator: In Reality Impossible to Close Cryptocurrency Exchanges The South Korean Fair Trade Commission (KFTC) does not have the authority to close cryptocurrency exchanges. It is impossible in reality, said the KFTC chairman. The agency is currently investigating 13 major exchanges operating in the country for alleged violations of the e-commerce law. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations The KFTC is currently investigating 13 major cryptocurrency exchanges for alleged violations of the South Korean Electronic Commerce Law, including Bithumb, Coinone, and Korbit, according to local media. However, KFTC Chairman Kim Sang-Joo said on Wednesday that the e-commerce law does not have the right to close virtual currency exchanges, adding that it is impossible in reality. In an interview on CBS radio, he elaborated : We do not have the authority to close virtual currency exchangesIt is a clear reality that there is no proper legal provision related to it. When asked if other ministries could ban or close cryptocurrency exchanges, Kim emphasized , cryptocurrency has recently emerged and other laws do not have the exact legal provisions related to closing exchanges. In addition, Kim commented on what the Justice Minister Park Sang-ki said recently about cryptocurrency trading being a form of gambling, stating: I do not agree with the attitude of Justice Minister Park Sang-ki, who said, cryptocurrency investment is gambling. Kim also noted on Wednesday that there are many illegal activities discovered during the investigation. For exchanges in violation of the law, I will notify them and make appropriate arrangements to remedy the situations, he detailed. In particular, we will call for voluntary reforms at le Continue reading >>

Bitconnect Shutters Crypto Exchange Site After Regulator Warnings

Bitconnect Shutters Crypto Exchange Site After Regulator Warnings

BitConnect Shutters Crypto Exchange Site After Regulator Warnings Jan 17, 2018 at 00:22 UTC|UpdatedJan 17, 2018 at 12:01 UTC The company behind the controversial cryptocurrency BitConnect has announced that it will close down its lending and exchange platform. BitConnect's lending service will be shuttered, effectively immediately, while its exchange platform will close in 5 days, according to a post on its website published Tuesday. "In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes," the post explained. The announcement blames a myriad of factors, perhaps most notably the cease-and-desist letters issued in recent days from regulators in Texas and North Carolina . Both letters stated that BitConnect was engaging in the sale of unregistered securities tied to a token sale. "We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division," the BitConnect team wrote. "These actions have become a hindrance for the legal continuation of the platform." The post also blamed "bad press" that has "made community members uneasy and created a lack of confidence in the platform." BitConnect has been accused of constituting a Ponzi scheme, and several figures in the space, including the founder of ethereum, Vitalik Buterin, have levied criticisms against it in recent months. The BitConnect team also blamed a string of dedicated denial-of-service attacks (DDoS). Since as early as Jan. 13, BitConnect's Twitter account has blamed DDoS attacks for problems with its website. Yet despite the cease-and-desist letters, BitConnect said that its in-progress initial coin offering (ICO) will cont Continue reading >>

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