XRP enjoys gains of 186%

This year cryptocurrencies have enjoyed a wild year of gains. One to note is XRP which is up 186%. XRP is the digital currency or asset that facilitates payments on the payment platform Ripple. which provides fast and cheap international transactions worldwide.


Brad Garlinghouse the CEO of Ripple mentions the gains are driving because many govts around the world are printing more fiat currencies. With trillions of dollars of stimulus they are inflating the US dollar. Brad Garlinghouse mentions the long term value of any digital asset will come from its utility. Ripple is using an opensource digital asset XRP to solve a payment problem it is good at it because its extremely fast and extremely cheap to solve the problem.  


Bitcoin will remain an important player however more currencies are showing continued disruption.  Bitcoin for many is seen as a good entry point for people entering the cryptocurrency market. 


Brad Garlinghouse mentions that the US is out of step with other countries when it comes to regulation. 

What is the DCEA? It is the Digital commodity exchange act.  This is the act that will provide building blocks clarity and certainty for companies to confidently build blockchain companies. Brad Garlinghouse mentions this will help make public cryptocurrencies. What does an ideal regulatory framework look like? 

Swap your tokens below to get the best prices across all decentralized crypto exchanges.

Indices like S & P Dow Jones will start to monitor top cryptocurrencies

Earlier on this week S&P Dow Jones Indices indicated that such indexes will start to measure the performance of the 500+ most traded cryptocurrencies by market cap, top cryptos would obviously be include Bitcoin. Research indicates this will include more than 500+ of the most frequently traded coins and tokens which will be included to be included in the indexes.

 

According to the statement issued by both companies, S&P’s clients could create customized indexes, among other benchmarking tools on cryptocurrencies. 

 

“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable, and user-friendly benchmarks.” mentioned Peter Roffman, who is the global head of Innovation and Strategy at S&P Dow Jones Indices.

Its interesting to note that it looks like cryptocurrencies may very well achieve the status of “mainstream investments” with the indexes’ launching in 2021.This has also been noted with large firms  such as JP Morgan, who has been showing a new view towards Bitcoin, shifting to a bullish view in the medium and long-term. 


Other large firms such as PAYPAL have been taking significant steps to adopt cryptocurrencies within their portfolio, as they announced in October. During an earnings call held on November 2, 2020, PayPal’s CEO Dan Schulman revealed plans such as increased crypto-asset purchasing limits.

Name your favourite free faucet?

Here is your chance to list your favourite free faucet. I will start things off by listing a few of mine. Comment below and list your favourite website and tell us why. A free faucet is a place you can go where you are rewarded by some type of cryptocurrency.  

Free Faucet.io is where you can choose from the list of ways to earn cryptocurrency including: Daily Faucets, Offer Walls, Surveys, PTC ads, Geofaucets and a forum. Free Faucets

Southxchange is another one worth investigating. SouthXchange is a fast, secure and real-time cryptocurrency exchange platform for bitcoin and other digital currencies.

Horizen Community Hub: Is a free faucet where you can claim daily ZEN cryptocurrency. You can also play games and there is an academy. 

Get your free ZEN

Top Cryptocurrency News Sites

What are some of the top Cryptocurrency news sites? 

Vote below / Comment to add your favourite

Here is a fun little poll we thought we would organise to get some feedback on your favourite place to get your cryptocurrency news from. If we have left one out simply let our team know and we will add it ASAP. 

17
What is your favourite Cryptocurrency news site

Tell us your favourite cryptocurrency news site!

CoinSpectator is a real-time tool for monitoring the latest #cryptocurrency news and analysis from a wide range of trusted sources.

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Crypto Boom News

The original source of the latest news, insight, and commentary about Free Weekly Newsletter: http://CryptoBoomNews.com/subscribe

Bitcoin News: Official Twitter account for news.bitcoin.com. Follow us for all the latest Bitcoin news and services! 

Trijo News focuses on cryptocurrency prices, investments, and speculation – because that’s where all the fun is!  Twitter

Lite Coin News: All the latest news about #Litecoins and #Cryptocurrency #bitcoins #HODLGang  Follow on Twitter

Crypto Cret: News/Talks Covering the Cryptocurrency Market Chart with upwards trend and yen sign, Price Predictions & Analysis Bar chart. Weekly Price Performance, Crypto Airdrops and Bounties http://t.me/cryptocret

Krypto Money: Get latest news & updates about #bitcoin #cryptocurrency #blockchain #technology & upcoming #ICO.Visit our website 
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Ebargains: Cryptocurrency news! Check out and subscribe to our blockchain and cryptocurrency news blog at http://ebargains.blog today!

Bitcoin Magazine: The latest Blockchain and ₿itcoin Magazine. Follow for information about #Bitcoin updates, memes and more. 

CoinDesk: the conversation on the future of money and Web 3.0.

Bitcoin News Today is a Crypto media outlet that lets you know about the latest news in the crypto world and provide step by step beginners guide on how to buy

Airdrop Detective Team,” are experts in crypto, especially in airdrop & bounty. We search all airdrops daily and share the best of them with you.

Brian Armstrong from Coinbase sends letter to treasury

As announced on twitter Brian Armstrong from Coinbase has sent a letter to treasury mentioning industry concerns. Here is some key information shared. 

“We sent a letter to the Treasury last week, along with a number of other crypto companies and investors, articulating these concerns and others.”

 

“Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I’m concerned that this would have unintended side effects, and wanted to share those concerns.”

“For those who don’t know – self-hosted crypto wallets (also known as non-custodial wallets or self-custody wallets) are a type of software that lets individuals store and use their own cryptocurrency, instead of needing to rely on a third party financial institution.”

“Self-hosted crypto wallets are important, because they allow anyone to use this new technology to access basic financial services – just like anyone can use a computer or smartphone to access the open internet.”

“The open nature of cryptocurrency is what makes it a powerful tool for innovation, and it is what levels the playing field globally. It is what is fueling innovation, such as in Defi. It has the potential to bring down the cost of financial services, and improve accessibility.”

“This proposed regulation would, we think, require financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, collecting identifying information on that party, before a withdrawal could be sent to that self-hosted wallet.”

“This sounds like a reasonable idea on the surface, but it is a bad idea in practice because it is often impractical to collect identifying information on a recipient in the cryptoeconomy. Let me explain why.”

“Many crypto users are sending crypto to smart contracts to use Defi apps. A smart contract is not necessarily owned by any individual or business who could be identified. It is a new type of recipient that doesn’t have any direct equivalent in traditional financial services.”

“Many crypto users are sending crypto to various merchants online, paying for goods and services. Does it make sense to require customers to help verify the identity of a business before they can buy a product there?”

“Many crypto users are also sending crypto to people in emerging markets, where it is difficult or impossible to collect meaningful “know your customer” information. Some of these individuals are living in poverty, and may not have any permanent address or form of government ID.”

“Many crypto users are using their crypto with new types of applications online. Imagine if every time you wanted to upvote some content on Reddit or transfer an item in a game you were hit with a form asking you to verify a recipient.”

“Finally, many recipients (in the U.S. or abroad) who value their financial privacy, may simply not want to upload more identifying documents to various companies, which could be hacked or stolen.”

“This additional friction would kill many of the emerging use cases for crypto. Crypto is not just money – it is digitizing every type of asset.”

“Given these barriers, we’re likely to see fewer transactions from crypto financial institutions to self-hosted wallets. This would effectively create a walled garden for crypto financial services in the U.S., cutting us off from innovation happening in the rest of the world.”

“This would be bad for America because it would force U.S. consumers to use foreign unregulated crypto companies to get access to these services. And long term, I believe this would put America’s status as a financial hub at risk.”

“Just like the U.S. benefited enormously by embracing the open internet, it should embrace the open crypto networks and allow U.S. citizens to move their own money freely in the emerging cryptoeconomy.”

“If this crypto regulation comes out, it would be a terrible legacy and have long standing negative impacts for the U.S. In the early days of the internet there were people who called for it to be regulated like the phone companies. Thank goodness they didn’t.”

CoinGate reaches 1 million paid orders

CoinGate a Cryptocurrency payments system that accepts Bitcoin, Ether, Litecoin, XRP and more today have announced it has reached 1 million paid orders. CoinGate passed the 1 millionth paid order. Today the number stands +1,060,000. Each #bitcoin block consists of 5-10 transactions related to CoinGate.

CoinGate is a gateway to all things cryptocurrency. Take advantage of robust crypto payment and trading tools created for each and every participant of the blockchain industry. CoinGate

Wow look at the total market cap

What’s happening today in cryptocurrency?

1. The total market capitalization of all #cryptocurrencies has surpassed the $500 billion mark for the first time since February 2018.

2. Whether #Bitcoin can replace gold is among the frequently discussed topics recently! #Bitcoin reached a market value of $350b this morning, becoming the world’s largest bank.

3. Mexican Billionaire, Sebastian Sinclair founder of Grupo Salinas, reveals 10% of his liquid assets are in Bitcoin.
Cryptocurrencies are legitimate investments.

4. 1xBit is giving away a Welcome Bonus of up to 7 #BTC to its new users. The platform provides a sportsbook and online casino with over 25 #cryptocurrencies. Register to http://1xBit.com and look for the “bonuses and gifts”. Use promo code FSDAP60 and get 60 free spins.

5. Betller.io is now listed on @Cryptwerk_com online directory & map with companies, websites, stores accepting #Bitcoin and other #cryptocurrencies!

Aquaculture Australia

Did you know that Australia-based West Coast Aquaculture (WCA) has completed an A$5 million (US$3.65 million) initial public offering, becoming the first firm in the nation to use cryptocurrency for its capital raise.

In an announcement provided to CoinDesk on Monday, fintech firm STAX said it had assisted WCA in raising just over 89%, or just over A$4.4 million (US$3.2 million), of the total raise via the stablecoin tether (USDT), a cryptocurrency with its price linked to the U.S. dollar on a 1:1 basis. The remaining funds were raised in Australian dollars.

“We are proud to be part of this historic moment in Australian investment history, said Neo Ching Hoe, CEO and founder of WCA. “We hope this bold initiative helps open the door to more global investment for local companies.”