Ripple may have IPO dreams, but will crypto embrace it?

It can be argued that the innovation spurred by Bitcoin and the cryptocurrency market gave rise to Initial Coin Offerings [ICO]. Looked upon as a means to revolutionize the way capital was raised in the ecosystem, ICOs also pushed general people to participate in a particular project. In fact, ICOs’ popularity peaked in 2017, with the year coming to be known as the year of the ICOs.

With time, however, this popularity faded, as multiple fake ICOs emerged. Even though not all projects were fake, it emerged later that nearly 45% of the top 20 ICOs had failed.

However, the lessons of these ICOs remain instrumental, especially with respect to major companies of the cryptocurrency ecosystem that are hinting at conducting an Initial Public Offering [IPO].

Understanding IPO and ICO

ICOs and IPOs differ from each other significantly, like two different generational concepts. On one hand, while IPOs are conducted for well-established companies that are considered “safer” to invest in, on the other hand, ICOs are looked upon as an avenue for young companies, avenues that might come with a *risk warning.*

In fact, according to a report that analyzed 20 ICO projects, 9 out of 20 projects failed, which is 45%. However, 11 were successful, including EOS, a project that, at press time, was rankedeighth in the market with a market capitalization of $1.76 billion.

Since ICOs usually don’t involve parties with years of experience, investment by users will often be based on sentiment [or good faith], while on the other hand, IPOs provide a record of experience in the field, healthy bank accounts, and a business resume.

Alina Kiselevich of Enigma Securities explained this difference between ICOs and IPOs in an interview with AMBCrypto. She said,

“If put simply, Initial Public Offering is a process of distribution of shareholdings to the public though investment, usually only open to established private entities, Initial Coin Offering is, on the other hand, open to everyone who is willing to invest on blockchain, and is a process of crowdfunding for the startup companies, though the intent is the same in both cases.”

The earliest form of IPO can be traced back to publicani during the Roman Republic. IPOs have since evolved to become a more organized, legal, and compliant process. For a company to conduct an IPO, it has to fulfill several requirements like having a minimum earning threshold, a good record, the legal declaration of its intentions to issue public shares, and information about the company to assist potential investors.

Contrarily, ICOs do not fall under any regulatory framework and legal protocols, with many newly formed companies having just a whitepaper to support its project. Similarly, investing in ICOs also has its perks as the only requirement is to have an Internet connection, with investors open to investing in companies in any part of the world. This isn’t the case for IPOsas in its case, there are legal footsteps to be followed to invest in a country abroad.

The stocks acquired by investors during an IPO process resemble their ownership stake in the future revenues of the company. While investing in ICOs does not grant ownership to the investors, but it offers different ways to earn benefits. These benefits could stem from the project’s success and growth of the value of the token it offers.

Even though IPOs appeared to be safer compared to its ICO counterpart, the fate of the company cannot be pre-determined. For example, WeWork, a real estate company providing shared working spaces, had to roll back its idea of conducting an IPO after it ran into financial trouble. The company had filed its IPO paperwork in August but within a month’s time, its valuation was down from $47 billion to $10 billion. Thus, the fate of any company, big or small, new or old, cannot be pre-determined.

When a comparison between ICOs and IPOs was drawn, Alina was of the view that IPOs could be the chosen one.

She elaborated,

“When it comes to returns of the investments, IPOs offer a more secure dividends from the company’s profits, whilst ICOs offer tokens at a price that will get higher due to the trust and interest in the project.”

SEC’s views on ICOs and Ripple’s ICO 

As the ICO wave crashed, the U.S Securities and Exchange Commission [SEC] clamped down on various projects for selling unregistered securities. For example, Kik and Kin, both successful ICO projects, were among several companies to face the wrath of the SEC.

There has been a long-standing discourse surrounding the treatment of digital assets andRipple Labs Inc. has been at the center of it – with the digital asset XRP. The company had an ongoing class-action lawsuit filed against it by Taylor-Copeland law firm in May 2018 for the sale of unregistered securities. According to a report,

“The lawsuit targets Ripple, its subsidiary XRP II, and Ripple CEO Brad Garlinghouse, alleging that Ripple’s sale of XRP tokens is a violation of U.S. securities laws.”

The plaintiff in the case stuck to Howey Test and its criteria that can categorize XRP as a security. However, the validity of the Howey Test has been argued as it did not fall true for digital assets as they remain a novel concept.

There has been a lot of back and forth in the court about the legitimacy of Howey’s test, butRipple has not managed to quash the case. In a recent turn of events, a United States federal district court even decided to allow a lawsuit alleging that Ripple’s XRP is an unregistered security.

According to Adam Blumberg, the co-founder of Interaxis, Ripple’s tiff with the SEC could play out in multiple ways. Declaring XRP a cryptocurrency would be one easy way out, but what about if it is not? Blumberg posed some important questions,

“…the SEC is having a wrangle with that [Ripple’s ICO] and figure out, “okay, you raised a bunch of money in the public markets using this cryptocurrency that is not at all tied to ownership of ripple,” So does ripple off to give the money back? Do they have to convert every XRP to a share? They’re not, they’re not quite sure how to get over this because it’s been out there for years already.”

Ripple’s IPO

Davos becomes a prime spot once every year when the big shots of the world of finance and politics gather for the World Economic Forum. The summit has its own set of critics, but as January begins, all heads turn to the summit to hear from the horse’s mouth the measures for development taken in the field and the trends to follow.

One name among the guest list was Ripple CEO Brad Garlinghouse. In a talk with WEF, Garlinghouse had opined that the upcoming trend in the industry could be of IPOs. He had also claimed that Ripple might not be the first to do it, but won’t be last either. He stated,

“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”

Thus began the speculation of Ripple’s IPO in the crypto-market. However, according to the co-founder of Interaxis, Adam Blumberg, Ripple has already, in a manner, conducted an IPO of its own.

Ripple may have IPO dreams, but will crypto embrace it?

OKEx Undergoes Maintenance, Becomes Top BTC Futures Exchange

OKEx completed maintenance to find its trading volumes increased and the platform became the top Bitcoin futures exchange.

OKEx completed a short maintenance yesterday at a time of great volatility in the cryptocurrency market. The exchange also just recently overtook competitor BitMEX and became the top Bitcoin futures trading platform.

On Mar. 12, OKEx announced that the platform would be down for system maintenance starting at midnight UTC for about half an hour. Later the same day, the exchange announced that trading activity had resumed.

The maintenance took place at a time of great volatility in the cryptocurrency market which was accompanied by unusually high volumes on cryptocurrency exchanges. Bitcoin (BTC) started Mar. 12 at nearly $8,000 and ended the day at around $5,300.

Bitcoin 2-day chart. Source: Coin360

OKEx adapting to high trading volumes?

According to cryptocurrency market data website CoinGecko, on Mar. 12 OKEx saw a high of $3.1 billion in trading volume, a nearly 160% increase compared to the day before. In recent months, the exchange was already managing higher-than-usual volumes.

OKEx trading volumes. Source: CoinGecko

Furthermore, OKEx recently overtook BitMEX as the crypto exchange with the highest Bitcoin futures volume, according to Skew. The exchange leads by over 40%.

Bitcoin futures trading volumes on top exchanges. Source: Skew.

It is unclear whether the maintenance which OKEx engaged in on such short notice was meant to prevent rising trading volumes from interfering with the correct functioning of the platform. The firm justexplains that the maintenance is meant to ensure “better service quality and trading experience.”

A challenging time for cryptocurrency exchanges

The boom and bust recently experienced by the cryptocurrency market at large were accompanied by a major and sudden rise in trading volume and web traffic related to cryptocurrency exchanges. This resulted in an unexpected high strain on trading infrastructure and some major hiccups.

As Cointelegraph reported in late February, major cryptocurrency exchange Binance halted trading on its platform to resolve an unexpected technical issue with its infrastructure. The unscheduled maintenance followed weeks during which the exchange’s users had to endure a number of performance issues on the platform.

Earlier this month, Binance halted trading after its infrastructure malfunctioned once again. Jay Hao, CEO of OKEx, extended a tongue-in-cheek offer of technical help to Binance’s CEO.

Who uses the most Bitcoin ATMs?

Bitcoin ATMs are now spreading around the world hoping that one day they will become a normal part of our daily lives.

What is a Bitcoin ATM?

A Bitcoin ATM is essentially a “physical” machine that allows users to purchase and deposit cryptocurrencies, just like a traditional cash machine or cash machine. Since ATMs are an integral part of our daily lives, many believe that the use of Bitcoin ATMs to secure a future will be crucial to the introduction of Bitcoin. Bitcoin ATM users will finally find that Bitcoin can also normalize and is not just a difficult online purchase.

Simply put, Bitcoin ATMs ideologically break up all blockchain jargon and offer a simple access point through which everyone can communicate with Bitcoin.

Who uses them?

We said they were part of an international movement – Bitcoin ATMs are worldwide, but most are based in the United States, actually more than 50%.
South America, however, is a continent on which the existence of Bitcoin ATMs is increasing. In countries such as Venezuela and Colombia there are now a number of machines in which users can also participate. “” Access to alternative cryptocurrencies such as Bitcoin Cash, Litecoin and Ethereum.

According to Bitcoin.com, Athena, a company responsible for the production of many Bitcoin ATMs, has conducted extensive research into the use of Bitcoin ATMs, particularly in Colombia.
It appears that Columbia is ready to take control of the United States for the use of Bitcoin ATMs. The locals find a real use for these machines, which could indicate that there is also a total love for bitcoin and crypto here?

The French court decides that Bitcoin is legal money

A French commercial court has recognized Bitcoin as the currency after a lawsuit between a local cryptocurrency exchange, Paymium, and the investment company BitSpread. With the court ruling, Bitcoin can now be viewed as legal money in France.
The legal status of Bitcoin is identical to that of Fiat
According to a report by the local newspaper Les Echos, the Nanterre Commercial Court on Thursday, March 5, 2020, classified Bitcoin as well as Fiat money as a “fungible intangible asset”.
In response to the court decision, lawyer Hubert de Vauplane said:
“The scope of this decision is considerable since Bitcoin can be treated as money or other financial instruments. This therefore facilitates Bitcoin transactions such as loan or buyback transactions that grow and thus promote liquidity in the cryptocurrency market” ”
The ruling was made after a dispute between Paymium and Bitpread, in which the former borrowed the last 1,000 BTCs in 2014. A hard fork from Bitcoin created the Altcoin Bitcoin Cash in 2017, which meant that BitSpread had to keep 1,000 BCH extra. The two parties then argued about the beneficial owner of the BCH.
To solve the problem, the French court found Bitcoin to be legal money and classified BTC loans in the consumer loan category. In this type of loan, ownership of ownership passes to the borrower for the duration of the loan. For this reason, the commercial court ruled that the BCH belongs to the Paymium cryptocurrency exchange.
BTCManager recently reported that the South Korean National Assembly has passed a bill to legalize bitcoin in the country.
Pro crypto position of France
France has shown a positive attitude towards the cryptocurrency industry, with various incentives and regulations that it has introduced. In June 2019, the French government announced its intention to introduce strict regulations for ICOs in the country.
To attract investment in virtual currencies, the government has abolished the tax on crypto-crypto transactions, but declares that the tax will apply to digital assets that are converted into fiat money.
In addition, the Autorité des Marchés Financiers (AMF), an independent financial regulator in France, has authorized Napoleon Asset Management to launch the country’s first regulated Bitcoin fund.

Saxo Bank’s scandalous prediction 2020: Asia markets an asset based on DLT

In its new forecast for 2020, the big Danish bank Saxo Bank predicted that Asia would launch its own blockchain-based digital asset.
The latest edition of the scandalous Saxo Bank forecasts also predicts that President Donald Trump risks losing the 2020 elections when Hungary leaves the EU. The report was released on December 3 following a tweet from the bank.
Saxo Bank says Asia is launching new reserve assets to “fight growing trade rivalry and vulnerabilities due to growing US threats against US dollar weapons and its control of global finances”.
Chinese renminbi will be “very important”
In particular, the bank anticipates that the new asset, called the Asian Drawing Right (ADR), will be issued by the Asian Infrastructure Investment Bank. The new digital asset is “powered by blockchain technology” and is based on the reserves of regional central banks, while its support will be a basket of global currencies and gold.
While the Chinese renminbi is expected to be “very important” in the ADR currency combination, the US dollar is weighted below 20% according to Saxo Bank forecasts. The total amount of the coin is $ 2. This makes ADR the “largest monetary unit in the world” according to the bank.
The target is said to be “clearly” aimed at reducing the impact of the US dollar on regional trade and the local economy. According to Saxo Bank, blockchain technology is used to stabilize the money supply and track transactions in ADR.
Saxo Bank is known for its cryptographic predictions
Saxo Bank’s forecast for digital currency in Asia for 2020 is not the bank’s first forecast for blockchain technology. In fact, the bank has so far made several predictions about the largest Bitcoin cryptocurrencies (BTC) and other crypto markets.
In mid-April 2018, Saxo Bank predicted that cryptos would experience a significant bull market in the second quarter of 2018. However, after a brief uptrend in April, the crypto markets experienced a strong downtrend in the second quarter.
In 2016, when Bitcoin was trading between $ 450 and $ 950, Saxo Bank predicted that Bitcoin would reach $ 2,100 in 2017. Finally, Bitcoin reached its high level of $ 20,000 by the end of this year.

 

BITCOIN PRICE BACK TO $ 10,000 WHY HERE

After May, when Bitcoin halves, the largest cryptocurrency will have an inflation rate of 1.8%, lower than for gold and the US dollar. This only increases the asset value reserve because it really becomes a better value store than any other refuge.

The halving happens when miners receive half of the planned block reward they currently receive for validating transactions on the Bitcoin network. The halves were developed by Satoshi to increase the scarcity of the existing Bitcoin offering, increase the price, start new users and create a positive feedback loop that increases acceptance of Bitcoin. They take place every 210,000 blocks or approx. 4 years.

Just before the last fall in half, we saw a similar formation of a gold cross on the BTC / USD chart, which caused a price increase of 218% as Bitcoin reached its high level all the time. Traders have not forgotten this lesson and appear to position themselves in anticipation.

As of this point, Bitcoin is trading at $ 10,021 after falling to $ 9,480 over the weekend. As the gold cross on the chart is confirmed today, we have seen that the volume of the longline has again raised the price above the psychologically important price level of $ 10,000.

Bitcoin may not yet be in a full bull market, but investor sentiment is currently pushing the commute in this direction. We can see a half bullish attempt and then see a retracement immediately before or after the event.

THE BITCOIN OF LESS THAN 10,000 MAY BE A PAST

Many cryptanalysts have predicted that we will never see the price of BTC below 10,000 again, but with the Golden Cross, it may actually be the last catalyst pushing the price of Bitcoin to 5 digits permanently.

Bitcoin is often referred to as a deflationary currency because the plan for issuing new coins is shrinking. Ultimately, the supply and demand economic legislation will affect Bitcoin’s current supply and a reduction in the production of new coins, resulting in an overall price increase.

If the price of the BTC goes up, we can expect the Altseason to skyrocket due to its high correlation with the price of Bitcoin. We have seen many traders diversify into alts as BTC’s dominance has dropped dramatically in recent weeks.

Many altcoins have already surpassed Bitcoin this year and serve as leading indicators of the largest piece of market capitalization. Smart money has quietly taken positions in Bitcoin and Alts, while prices fell during the crypto winter.

If the media has a bullish fever, we can expect a new generation of curious investors to join Bitcoin and Altcoins, which will give institutions gathered massively across the bear market a passion for investing. retail.

Why is this the best time to buy Bitcoin?

“Sell the rally, buy the feeder” is a common expression in the financial and investment ecosystem, a maxim that may or may not apply to the current increase in bitcoin. The world’s largest digital asset increased by more than 44% in 2020. While some may suggest waiting for the price to drop, the right time to deposit may now be.
One of the strong arguments to invest in Bitcoin is its correlation with the flow stock model. Gold is one of the most liquid assets in the industry and its scarcity aspect has greatly improved its S2F share over time. Bitcoin has remained in most gold properties as an asset, highlighting that it is 10 times better than precious metal.
In terms of real data, Bitcoin has followed the S2F model almost consistently and over the past year, deviations from S2F projections have been small. However, the fact that the market capitalization of Bitcoin at the time of printing was only $ 190 billion had significant future potential. The market value of gold is close to $ 8-10 billion. Since Bitcoin is likely to follow the S2F model, this asset class could easily reach the same market valuation in the next decade.
The Bitcoin fear and greed index has also shown a positive sentiment from investors in line with the current market. At the time of publication, the index had a “gourmet” rating of 63, indicating an influx of traders. Such a scenario usually involves curbing sudden investments. Unfortunately, Bitcoin does not have the same properties as traditional assets.
Although Bitcoin has been around for more than a decade, it is still a relatively new asset class. Digital assets are largely asymmetric, which means they may not decrease or decrease significantly in the long term. Short-term volatility is a common phenomenon for cryptocurrencies. In addition to short-term dumps, Bitcoin ticks all the correct boxes from a long-term perspective.
The performance of the world’s largest cryptocurrency in 2019 also did not disappoint.
Bitcoin has generally grown by more than 95%, surpassing gold, the S&P 500 and even the US government bonds. UU. It should be noted that Bitcoin saw a 50% correction from its previous high of $ 13,800, but the increase in the valuation was still significant. Crypto assets were not depreciated as they did after the bullish race of 2017, when the crisis reduced its valuation from $ 20,000 to $ 3,000.
The main difference between the bullfight of 2017 and the current rally is market maturity and currency circulation. From a total of 21 million BTC, 18.2 million BTCS have already been issued. In addition, three years ago, institutional acceptance and constructive knowledge about Bitcoin was still lacking, which clouded people’s understanding of Bitcoin.

At the time of printing, the financial sector and the main media are more aware of digital assets. In fact, regulators around the world take the Bitcoin market position seriously and often discuss the regulation of digital assets. The Davos World Economic Forum, which announces a consortium to regulate crypto assets and stable currencies, is proof of that.

http://www.tophyip.biz/besttimetobuybitcoin20200215.html

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Bitcoin Price exceeds $ 9,700 to peak in 3 months

Bitcoin (BTC) continued to head north to peak in more than three months after questioning expectations of a temporary price cut.

In eight hours, starting at 10:00 a.m. UTC on February 5, the price of BTC rose by 5.9%, going from 9,250 USD to around 9,775 USD before a small agreement was reached, which which has made current prices around $ 9,559.

Oliver von Landsberg-Sadie, CEO of the British encryption company BCB Group, said the recent moves at BTC were likely due to the shallow depth of the market, which is increasing the supply of buyers.

“Any significant size continues to rock the boat, while lower bullish drivers are the usual suspects in the next half division,” said Landsberg-Sadie.
However, the impact on the recent price hike from BTC could also be due to activity in the altcoin market.

Su Zhu, co-founder of Three Arrows Capital, said that the price movements were led by highly capitalized altcoins, especially ether (ETH).

“There have been statements from the CFTC that ether futures will arrive before the end of the year, and there have been recent positive technological advances both in the Ethereum base layer and towards ETH2.0, “said Zhu.

The short-term 7-day change in the price of ETH increased by 18.5%, as did the XRP which started to increase the BTC, while Bitcoin Cash (BCH) and Bitcoin SV (BSV) gained 17 6 ​​respectively And 12.9. Percentage for 24 hours. Display Messari data.

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Croatian Post’s Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers

In December news.Bitcoin.com reported on the Croatian Post’s launch of their own crypto exchange service. After a pilot run in the tourist friendly city of Zadar, the program was expanded to 55 post office branches nationwide starting December 11. Now almost two months in, Croatian Post has provided an update to news.Bitcoin.com on the progress of the exchange. Local users of the service have increased since the pilot, and the most popular cryptos traded are BTC, ETH, and XRP.

Locals and Tourists Alike Now Using Exchange Service

The Croatian Post crypto exchange service allows users to exchange crypto for Croatian kuna at 55 post office branches across the country. Supported cryptocurrencies are bitcoin core, ether, XRP, stellar, and EOS. According to the corporation, which is the largest postal provider in the Republic of Croatia, “During the pilot that was done in a tourist centre Zadar [the service] was mostly used by foreigners, but since the state-wide launch in December it became more and more popular with locals.”

Croatian Post's Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers
Croatian postage stamp.

The initial announcement in December pointed to the convenience for tourists, who want to easily convert their crypto to local currencies while traveling, stating: “In recent years, there has been an increase in the number of cryptocurrency users, who very often plan to travel to those places where they can convert their digital money to the national currency.”

Now that the program is becoming more popular with local users and not just tourists, the Croatian Post notes that “We are very satisfied with the volumes of the service. Of course, we are expecting much higher volumes of cryptocurrency exchange when the tourist season starts.” A buy option is also planned to be introduced soon, providing a crypto on-ramp for users.

Croatian Post's Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers
The most commonly exchanged currencies thus far are BTC, ETH, and XRP. The crypto calculator tool on the website announces that a buy option is coming soon.

Most Popular Cryptos Exchanged for Croatian Kuna

Regarding the most popular cryptos, Croatian Post told news.Bitcoin.com:

Most popular crypto exchanged is, as expected, Bitcoin, followed by Ether. Ripple is also quite popular. EOS and Stellar Lumens are also accepted, but not as commonly recognised and used.

The group further elaborated, “The service is quite new, only launched in December state-wide, so we don’t have many recurring customers and we don’t see any rules in the way people use this service. Depending on the time of the year and also on part of the country however we see a difference in resident and non-resident customers.”

As news.Bitcoin.com’s Kevin Helms recently reported, in addition to Croatian Post, similar services are also being offered by post offices in Liechtenstein and Austria. Should residents and tourists in Croatia wish to purchase or sell bitcoin cash (BCH), they can do so via a variety of payment methods on the private peer-to-peer trading platform local.Bitcoin.com.

What do you think about the progress of Croatian Post’s new service? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock, Valentin Ivantsov, Croatian Post, fair use.