Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin Cash

Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin Cash

Bitcoin in Brief today features a couple of announcements adding to the growing number of bitcoin cash adoptions. A luxury cryptocurrency concierge now accepts BCH for the items it offers to the crypto rich – a logical step, according to its founder. An online travel agency is introducing three new coins to its payment options, including bitcoin cash, after “a huge uptick in the number of customers requesting alternative currencies”. Also, a cold wallet for institutions hits the market soon.   

Also read: Bitcoin in Brief Thursday: Main Street Adopts Bitcoin Ahead of Wall Street

Luxury Purveyor White Now Accepts Bitcoin Cash

A US-based luxury crypto concierge service is now accepting bitcoin cash (BCH). The White Company, founded by former executive at Formula 1 and LVMH, Elizabeth White, offers high-end products and luxury brands, including fine watches and sports cars. It has become the latest business to take advantage of the benefits of BCH payments, which include substantially lower transaction fees.

This business is trying to fill the market niche for services to those rich customers who want to acquire luxurious items, like private jets, Lamborghinis, and famous artworks, in a more discreet way. That’s why the White Company accepts only cryptocurrency.

Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin Cash

It all started with payments in bitcoin core (BTC), litecoin (LTC) and ethereum (ETH). However, the exponential growth of the business, of crypto wealth, in general, and the growing popularity of bitcoin cash, in particular, have led to the introduction of BCH payments. It comes as a recognition of the lower transaction fees and faster processing times of the bitcoin cash network, in comparison to legacy cryptocurrencies. The New York headquartered company has also decided to discontinue the LTC option.

Noting that “trust is vital in this space,” Elizabeth White was quoted as saying: “I have watched with interest both the growth and the early-adopters of bitcoin cash and I can see that the White Company and BCH are natural partners.” And, according to a corporate press release, the partnership represents a logical next step for the development of the business.

Cheapair Introduces Payments in Three Cryptos, including BCH

Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin CashOnline travel agency Cheapair.com has also announced it is now accepting bitcoin cash for booking flights and hotels. “It’s official!” the California-based company said in a post on Twitter, confirming it has added BCH to the available payment options, along with two other cryptocurrencies – litecoin (LTC) and dash (DASH). “Help us spread the word #cryptocurrency fans!” tweeted the agency, which also accepts bitcoin core (BTC).

According to Cheapair, the list of the supported cryptocurrencies has been expanded in response to customer demand. The company noted the development of a number of new cryptocurrencies aimed at avoiding some of the challenges that have emerged with BTC, whose network has previously been stressed by higher transaction volumes. In different ways, bitcoin cash, litecoin and dash all promise improved transaction potential over their predecessor, being either faster or with lower fees attached, Cheapair explained.

Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin Cash

“Our cryptocurrency customers tend to be very vocal about what they want, something we appreciate very much. Over the last six months, we’ve seen a huge uptick in the number of customers requesting alternative currencies, so we’ve worked hard to integrate the three that were most requested,” Cheapair CEO Jeff Klee commented.

Klee added that the company has already streamlined the process of converting the accepted cryptocurrency to fiat money, which is then paid to airline and hotel suppliers. “That made adding litecoin, bitcoin cash, and dash a relatively minor endeavor for our development team, but a huge benefit for our crypto customers,” he said.

Bitun Releases Cold Wallet for Institutions

Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin CashAn enterprise-level cryptocurrency cold wallet hardware has been displayed at the 2018 Global Summit in Japan this week. Developers at Bitun, a private bank of blockchain assets, claim that their product is different from any traditional cold wallet. It is completely isolated from the internet and employs a military anti-corrosion technique. The hardware CPU adopts the Secure Boot and Efuse mechanisms, combined with data encryption chips, they said.

The security level is recognized by licensed exchanges, according to a PRnewswire report, quoting Bitun representatives. The cold wallet also incorporates technologies such as NFC, face and iris recognition, and it’s verified simultaneously with the smart authorized device for signature. The user can also complete the multi-level approval in the signature process on the mobile hotspot APP. The official release of Bitun’s cryptocurrency cold wallet is scheduled for July this year.

What are your thoughts on the stories in today’s edition of Bitcoin in Brief? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitun.


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Coinjar Launches Cryptocurrency Exchange Supporting AUD Pairings

Coinjar Launches Cryptocurrency Exchange Supporting AUD Pairings

Coinjar has announced the launch of a cryptocurrency exchange that will exclusively offer AUD currency for fiat pairings. The exchange currently offers AUD and BTC pairings for bitcoin, Ethereum, Litecoin, and Ripple.

Also Read: US Justice Department Investigates Price Manipulation in Bitcoin Market

Coinjar Launches New Australian Cryptocurrency Exchange

Coinjar Launches Cryptocurrency Exchange Supporting AUD PairingsAustralian-founded cryptocurrency company Coinjar has announced that it has launched a cryptocurrency exchange exclusively offering fiat pairings in AUD.

Coinjar exchange currently provides support for BTC, ETH, LTC, and XRP pairings. In addition to AUD pairings, all supported altcoins are available to trade against BTC also.

The company is offering tiered accounts to users, with free accounts being charged a 1% fee for both orders that make and take liquidity from the order books. ‘Trader’ and ‘Premium’ accounts are also available for $500 AUD and $5000 AUD annually respectively – offering significantly discounted trading fees in addition to enhanced support services. ‘Institutional’ accounts are also available to traders who are able to make a volume commitment.

With regards to storage and security, Coinjar claims to store “At least 90% of our customers’ digital currencies […] offline in geographically redundant secure locations,” adding that “Wherever practicable, we also use multi-sig technology to protect digital assets that must be stored online.”

AUD Markets Lacking Major Exchanges

Coinjar Launches Cryptocurrency Exchange Supporting AUD PairingsIn recent weeks, Coinjar was announced as a finalist for Fintech Australia’s ‘Excellence in Digital Currencies/Wallets/Exchanges’ award – an award to be given as part of the not-for-profit organization’s 2018 Finnie awards.

According to Cryptocompare, the AUD bitcoin markets are highly centralized – with approximately 91.5% of trade 24-hour trade occurring on BTCMarkets. The second most active exchange is peer-to-peer trading platform Localbitcoins – with accounts for a further 4.75% of trading volume.

As of this writing, Cryptocompare estimates the AUD markets to the be the 15th largest fiat pairing against BTC by trading volume, with a 24-hour trading volume 288.4 BTC – or 0.05% of global trade.

As per Australia’s regulations, Coinjar is registered with the Australian Transaction Reports and Analysis Centre.

Do you think that Coinjar will be able to rival BTCMarkets’ apparent dominance of the AUD/BTC markets? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Coinjar


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Coinbase Acquires Decentralized ERC-20 Trading Platform Paradex

Coinbase Acquires Decentralized ERC-20 Trading Platform Paradex

On Wednesday, May 23 the San Francisco based exchange Coinbase announced the acquisition of a decentralized digital token relay-trading platform called Paradex. Alongside adding the decentralized exchange (Dex), the firm has also revealed it is retiring the name GDAX and that platform will soon be known as ‘Coinbase Pro.’

Also Read: Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Coinbase Exchange Acquires Decentralized Token-Relay Platform Paradex

Coinbase has revealed some interesting decisions today as the cryptocurrency exchange and brokerage service purchased a peer-to-peer Dex that allows users to swap “hundreds of tokens” like ERC-20s. According to various reports, Coinbase plans to “enhance” the Paradex protocol and launch the service to international customers located outside of the U.S. Reuters details that Coinbase purchased the platform for an undisclosed sum.

Coinbase Acquires Decentralized ERC-20 Trading Platform Paradex

Basically, the Paradex development team of ten, explains the platform allows the peer-to-peer relay of ERC-20 tokens on top of the Ethereum blockchain. The system is entirely decentralized by utilizing the 0x protocol which provides “handling settlement without necessitating user accounts or taking custodianship of users’ funds,” explains the Paradex team.

Today the Paradex website states:

We know we’ve been a little quiet, but we’ve been hard at work, and we’re incredibly excited to share that Paradex is joining Coinbase — While we work to integrate with Coinbase, the Paradex app will be temporarily unavailable, starting today, May 23, at 3pm ET. This doesn’t change our commitment to our users — We’re still working hard to build the best relayer, now with a larger team and more resources.

GDAX Will be Overhauled Into ‘Coinbase Pro’

Coinbase also told the press it would “eventually” provide Paradex services to U.S. customers but it needs to make compliance changes first. The firm headquartered in San Francisco also announced the same day that it was completely overhauling and rebranding the GDAX exchange. This summer GDAX will be known as ‘Coinbase Pro’ the company explained on Wednesday.

Coinbase Acquires Decentralized ERC-20 Trading Platform Paradex
The Coinbase Pro Trading Interface.

David Farmer, the General Manager of Coinbase Pro, detailed the trading platform will be more intuitive with a simplified deposit and withdrawal process. Further, the exchange will offer improved charts and access to historical data while also offering a new portfolio feature called ‘My Wallets.’

“As the decentralized ecosystem advances, we expect there will be many more opportunities for customers to interact with digital assets in new and unique ways,” Farmer states.

The news follows the trading platform’s plan to offer institutional custody services, and purchasing the website Earn.com.

What do you think about Coinbase purchasing Paradex? What do you think about GDAX turning into Coinbase Pro? Let us know your thoughts in the comments below.


Images via Shutterstock, Coinbase, Paradex, and GDAX blog. 


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Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

Circle is going after fresh entrants to the cryptocurrency trading market with a new tool that allows them to invest in multiple coins as once. This feature is different than an index fund in a few crucial ways, perhaps most importantly being available to everyday investors not just the rich and trading professionals.

Also Read: Economics Nobel Laureate Robert Shiller Examines Bitcoin in Historical Context

Buy the Market

Circle Internet Financial Ltd., the Goldman Sachs-backed Boston-headquartered company that acquired Poloniex earlier this year, has announced a new feature on Tuesday called “Buy the Market.” It allows users to buy seven assets at once including BTC, BCH, ETH, ETC, LTC, ZEC and XMR. Aiming for simplicity, all a user has to do to create a crypto portfolio with this feature is to enter the amount of USD they want to invest and the app will automatically calculate and distribute the investment sum according to each asset’s market cap.

This type of automatic or passive management investment tool will most likely be compared to existing crypto index funds. However, it is different in a few ways as it is just a technical feature allowing to buy a number of assets at once with one click not a real fund. These include no management fees, no re-balancing when market caps change, and a very accessible minimum investment sum of just $1.

Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

Better Than Crypto Index Funds?

Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

When comparing to crypto index funds such as those offered by Coinbase or Bitwise, the first thing to pop out is that the new Circle feature is available to all its normal users, not just to so called accredited investors. To be considered an accredited investor in the US, an individual must first report to the SEC that they have a net worth of at least $1,000,000 excluding the value of their primary residence or have a yearly income of at least $200,000. And companies need to have total assets in excess of $5 million or be recognized as a bank, insurance company, business development company, or registered investment company.

Circle’s Rachel Mayer commented: “This is one of the first experiences of its kind for consumers. Other crypto products that allow you to invest in market weight distributed fashion are accompanied by high minimums and 3% management fees. Circle Invest removes all this friction, making investing in multiple coins at once available for anyone at the same competitive pricing we deliver on all of our coins.”

Only last week Circle announced it had raised $110 million in a Series E fundraising round led by the Chinese firm Bitmain Technologies. It now looks it intends to use this money to expand its services in more ways than just issuing a new Tether alternative, like challenging index fund providers.

Would you prefer using such a feature over investing in a crypto index fund? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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Parksen to Create World First Sustainable City Platform

AMSTERDAM, THE NETHERLANDS – Parksen will build a Green, Smart & Connected City Platform, powered by the Ethereum blockchain, immutable smart contracts and a real-time parking app, that will bring much-needed innovation to modern and urban hotspots around the world. The mission? Enriching and connecting these metropolises with truly green solutions, smart and IoT device integrations, overall cost reductions and general infrastructural optimization for citizens and municipalities alike.

Parksen will create and use an open and universal ledger to record and map data that will give us the picture of major chokepoints in urban areas. With ...

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Ethereum [ETH]: Vitalik Buterin Scouted by Google

Ethereum [ETH]

Ethereum [ETH] – Ethereum’s [ETH] co-founder, Vitalik Buterin, seems to be a hot commodity in the tech space, as he tweeted two days ago that Google was actively trying to recruit him for a job. Buterin asked his followers if he should ‘drop’ Ethereum and work for Google and then tweeted a poll following the question.

Source: Twitter

Surprisingly, there was a high volume of people that felt it was a good move for the founder to go to the tech giant. Buterin has since deleted the tweet and poll.

...

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Johannesburg Gets a New Crypto ATM, Ban Threatened Harare May Lose One

Johannesburg Gets a New Crypto ATM, Ban Threatened Harare May Lose One

A new crypto teller machine is now operational in South Africa’s largest city, Johannesburg. The ATM, which supports several digital coins, has been installed at a supermarket in the north-western part of the city’s metro area. It is the latest addition to a growing number of terminals offering automated crypto-fiat exchange services in the country and across the continent. Not all is rosy in the region, however. A crypto ban in neighboring Zimbabwe may deprive Harare of its bitcoin ATM. Nevertheless, crypto teller services are spreading in Africa.   

Also read: Coinsource Installs 20 Bitcoin ATM Machines Around Washington DC

Multicurrency ATM Installed in a South African Supermarket

Johannesburg Gets a New Crypto ATM, Ban Threatened Harare May Lose One
Johannesburg

The Republic of South Africa, the continent’s economic powerhouse, and neighboring Zimbabwe, one of Africa’s most troubled nations, have at least one thing in common – the growing interest in cryptocurrencies, although under different circumstances. In recent years, both countries have been experiencing their own versions of crypto development. The process has led to improved access to the crypto ecosphere but now their paths may diverge again.

A South African outlet reported this week that the nation has got its “first” cryptocurrency ATM in its largest city. The teller machine has been installed at a store in Northwold, part of one of the biggest retail chains in the country – Spar. The automated terminal is a multicurrency device, according to Business Insider South Africa. Customers can buy bitcoin (BTC), ethereum (ETH) and litecoin (LTC) with fiat cash. Unfortunately, it supports one-way transactions, which means only purchases of cryptocurrency are available.

Of course, “the first” is almost always a doubtful label. Unsurprisingly, right after the report came out, the breaking news information was corrected by other media. “While this is undoubtedly a forward-looking move, it is most certainly not the first cryptocurrency ATM to go live in South Africa,” Mybroadband wrote in a piece putting forward another example. According to member of the local crypto sector, multiple cryptocurrency ATMs are operating in South Africa. Jacques Serfontein, CEO of mining hardware supplier Bitmart, said his company has installed one last year at its store in Nelspruit, east of Johannesburg. It supports multiple cryptocurrencies, as well, including bitcoin, ethereum, litecoin, dash, and zcash. Serfontein added he knew of several other crypto ATMs in Johannesburg, Cape Town, and Midrand.

The new Johannesburg’s ATM may not be the first in the country after all, nevertheless, it’s arguably the first one in Northwold. The good news is that the residents of another South African neighborhood will be able to buy digital cash with a simple QR scan and a fiat payment. The teller machine has been installed by the Spar store manager, George Neophytou, who is a crypto enthusiast and entrepreneur. “I asked permission to use this location because I work here. What better place to set it up, so that if a user required help, I’d be on-site to help,” Neophytou said. His initiative was supported by Vendibit, a company developing software and hardware blockchain solutions, and his partner, Daniel Cappiello, director of the Danish firm Copencoin.

Johannesburg Gets a New Crypto ATM, Ban Threatened Harare May Lose One

The future of cryptocurrencies in South Africa is still unclear. A “self-regulatory approach” has been mentioned as part of the solution for the country’s crypto sector, while the central bank is expected to formulate a comprehensive regulatory framework. In April, the South African Revenue Service announced it expected residents to declare crypto gains on their tax returns, although cryptocurrencies are not regarded as currencies for income tax purposes. Despite the uncertainty, cryptos have been gaining popularity both as investments and as means of payment. Last year, the country’s second largest supermarket chain, Pick n Pay, started testing bitcoin payments. It has been reported that drivers can pay tickets with cryptocurrency.

South Africa – Not the First and Only in Africa

The teller machine in Johannesburg is definitely not the first to offer automated crypto teller services on the continent, as well. Bitcoin has been gaining ground in SA’s neighbor Zimbabwe, where cryptocurrency exchange Golix has recently installed a BATM in its Harare office, as news.Bitcoin.com reported. Another local trading platform, Styx24, has announced plans to introduce a second machine in Gweru. Neither of the two companies, however, are licensed to provide these services. Besides, Zimbabwe’s central bank issued this month a circular effectively banning all crypto-related activities.

According to recent reports by local media, some of Golix’s bank accounts have been closed already and the Reserve Bank of Zimbabwe has ordered the company to cease all crypto-exchange operations. If the trading platform shuts down, residents of Harare will probably lose the only bitcoin ATM in their city, which Golix has installed in its office.

Johannesburg Gets a New Crypto ATM, Ban Threatened Harare May Lose One

Further north, an ATM in the Kenyan capital Nairobi supports four cryptocurrencies – bitcoin (BTC), ethereum (ETH), litecoin (LTC), and dogecoin (DOGE), according to data provided by Coinatmradar. Again, only crypto purchases are available. To the east, the tiny nation of Djibouti in the Horn of Africa offers a crypto teller machine operating 24/7. Customers can both buy and sell bitcoin (BTC) through the ATM located at the Appart Hotel Moulk in the capital city.

The Spanish Canary Islands, situated off the west coast of Africa, have at least three crypto teller machines. The one in Santa Cruz de Tenerife, capital of the largest island, offers support for two cryptocurrencies – BTC and LTC, but it’s a “buy only” terminal. The other two BATMs, in Costa de Adeje and Las Palmas de Gran Canaria, can be used for both purchases and sales.

Undoubtedly, many more cryptocurrency ATMs operate in Africa and its neighboring regions. Naturally, it’s up to local crypto communities and crypto media to spread the news about them.

Do you think ATMs increase the availability and popularity of cryptocurrencies? Tells us in the comments section below.


Images courtesy of Shutterstock.


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PR: eToro Announces Expansion Plans

eToro Announces Expansion Plans

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

– Launch of a crypto exchange and wallet –
– Bringing crypto offering to the U.S. market –

Global investment platform eToro has today announced plans to expand its cryptocurrency capabilities and subject to regulatory approvals will launch an exchange and a digital wallet. eToro will also bring its cryptocurrency offering to the United States, launching the platform to U.S. customers later this year under the leadership of the newly appointed U.S. Managing Director Guy Hirsch.

Yoni Assia, Co-founder and CEO of eToro, said: “We believe that in the future all assets will become digitised. This will help to open the markets to everyone and enable them to invest in the assets they want in a simple and transparent way. Crypto is the first step on this journey and we are excited to share our plans to launch an exchange and wallet.”

The announcements made today at Consensus 2018 in New York, follow the news in March that eToro had completed its Series E funding round, raising $100m USD to accelerate its global expansion and the development of blockchain technology to support the digitisation of assets. The platform enables people to invest in the assets they want to own from cryptocurrencies though to traditional assets such as commodities.

Yoni Assia, commented: “An exchange and wallet are important additions to our crypto offering and we know that both have been eagerly anticipated by our customers.”

eToro currently offers ten cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO and EOS) with plans to add more coins over the coming months. eToro’s cryptocurrency to cryptocurrency exchange will launch later this year enabling customers to trade coins.

The wallet will be launched as a phased rollout with select customers participating in beta testing to ensure that eToro provides an app which best meets its customers’ needs. The wallet app will be available to download on the App Store and Play Store and will work across multiple platforms and in multiple languages. It will enable users to hold multiple cryptocurrencies and tokens.

Since launching in 2007, eToro has built a global community of more than ten million investors across 140 countries. Guy Hirsch has been appointed US Managing Director responsible for bringing eToro’s cryptocurrency offering to the United States. Guy previously served as Director of Innovation Strategy at Samsung and has extensive experience across digital transformation and unified commerce.

Guy Hirsch, USA Managing Director, eToro, said: “eToro empowers investors with a platform that gives them access to the assets they want, shared knowledge and ease of transaction. We know that there is a strong demand in the U.S. for crypto and we are excited to be able to offer U.S. investors the opportunity to learn about and invest across multiple cryptocurrencies.”

eToro will offer U.S. investors three ways to access the crypto markets: manually invest in a coin, automatically copy the trades of other traders on the platform to benefit from their knowledge and investment expertise, or invest in a Crypto CopyFund which provides a diversified portfolio of major crypto assets.

From today, U.S. investors can visit eToro.com to join the waiting list ahead of the launch of the U.S. platform later this year.

ENDS

About eToro
eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from cryptocurrencies to commodities. eToro is a global community of more than ten million people who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated in the UK by the Financial Conduct Authority. www.etoro.com

Contact Email Address
https://www.etoro.com/about/contact-us/
Supporting Link
www.etoro.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

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Onchain Capital Founder Bullish on BCH and ETH

Onchain Capital Founder Bullish on BCH and ETH

The founder of Onchain Capital, and host of CNBC Africa’s ‘Crypto Trader’ show, Ran Neu-Ner, recently discussed his outlook for cryptocurrency regulation, initial coin offering (ICOs), and shared his outlook for several top cryptocurrencies markets. Mr. Neu-Ner described Bitcoin Cash and Ethereum as markets that he intends to ‘HODL’, adding that right now, he is passing on BTC in favor of more “exciting” virtual currency markets.

Also Read: Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains

Onchain Capital Founder Warns That Lack of Regulations May Stifle Entire Cryptocurrency Industry

Onchain Capital Founder Bullish on BCH and ETHIn an interview with CNBC‘s Fast Money, Mr. Neu-Ner described the United States Securities and Exchange Commission (SEC) as having taken an appropriate position in cautiously monitoring the cryptocurrency markets up until now, however, warned that a failure to introduce clear regulatory apparatus pertaining to virtual currencies may be to the severe detriment of the United States’ burgeoning cryptocurrency industry.

“I think the initiative by the SEC was a great one, but I think the joke is on the SEC now because they need to come up with regulation now, if they don’t come up with regulation, they may stifle an entire industry,” he said.

Mr. Neu-Ner added: “Now I know they are balancing investor protection with the need to grow an industry, but if you look to places like Japan and Singapore, they’ve got thriving ICOs, and they’ve got a thriving new industry, and my fear, having travelled extensively to that region, and spoken to all the founders and the legislators there, is that the US actually may be falling behind, and that we may not get a silicon valley here in the USA, because it may all fall into the legislations that are favourable towards these ICOs, and have got some kind of regulation in place.”

Mr. Neu-Ner Warns of Potential “Brains Drain” if Regulators Fail to Act

Onchain Capital Founder Bullish on BCH and ETHWhen questioned as to whether he believed that continual innovation in the cryptocurrency sector was contingent on the legitimation of the ICO industry, the Onchain Capital Founder stated “Well you can get the innovation without the ICOs, and that’s what the U.S. people are doing, they are establishing companies in places like Malta and Gibraltar, and Singapore, and place where there are favourable tax incentives, and places where the regulation speaks well towards ICOs.”

Mr. Neu-Ner also warned that ”the U.S may get a brains drain towards those areas – if you go to Singapore [or] Japan, you’re speaking to Americans, and they’re there because they want to launch their ICOs.”

“I think the SEC did adopt a responsible approach by taking their time to see what is happening with the industry, but now we know that crypto is real, we know [that] crypto, and the blockchain, is not going anywhere anytime soon. And now they’ve got to come to the party, and give us some kind of regulation, so we know where we stand,” he concluded.

Onchain Capital Founder Passes on BTC

Onchain Capital Founder Bullish on BCH and ETHMr. Neu-Ner also participated in Fast Money’s “HODL or FODL?” segment, in which he gave his assessment of the outlook for several major cryptocurrencies.

Regarding BTC, he stated “I like bitcoin a lot, but I’m going to FODL. Mr. Neu-Ner stated that although he believes that the price of bitcoin is currently “low,” and that the price “is going to continue to go up […] slowly and in a stable way,” Mr. Neu-Ner emphasized that ”there are more exciting cryptocurrencies out there, and if you’re going to ask me whether I’m going to put my money in bitcoin, or something more exciting, I’m going to go with something more exciting.”

When asked of if his ‘FODL’ response to bitcoin was due to greater institutional investment dampening down the volatility of the BTC markets, Mr. Neu-Ner stated “a little bit of that, but, a lot of the money is going from bitcoin, and even Ethereum and the more established coins, into this ICO frenzy.”

Mr. Neu-Ner continued: “There’s this frenzy happening which is not on the markets, […] where hundreds of millions of dollars are going into ICOs – where’s that money coming from? It’s not coming from fiat, it’s people cashing in their bitcoin and their Ethereum, and when they cash in the markets are going to go down.” Despite such, Mr. Neu-Ner does hold a bullish outlook for BTC and ETH, adding “That said, I do think the institutions are going to come in towards the end of this year – they’re going to go to bitcoin and Ethereum first, and then the market is going to go up.”

Mr. Neu-Ner Bullish on BCH and ETH

Onchain Capital Founder Bullish on BCH and ETHWhen asked of his outlook for Bitcoin Cash, Mr. Neu-Ner resolutely stated that he’s “HODLing,” adding “I think there’s a lot of potential for Bitcoin Cash, I like the team […] that are driving it – it’s all the old bitcoin people.”

Mr. Neu-Ner jokingly predicted that his stance would lead him to be “murdered on Twitter” by “the trolls and the bitcoin maximalists,” adding that “I love both Bitcoin Cash and [bitcoin] equally, but if you ask me where I put my money right now, Bitcoin Cash has more potential.”

Regarding Ethereum, Mr. Neu-Ner states “HODL for sure,” adding ”they’ve got the biggest community in the industry – thousands of people, the smartest people in the room. They’ve got use cases, [and] they’re solving their scaling issues […] so I’m holding Ethereum.”

Mr. Neu-Ner Throws XRP in the Garbage

Onchain Capital Founder Bullish on BCH and ETHWhen of XRP, the Onchain Capital founder stated: “Ripple I’m throwing in the garbage.” Mr. Neu-Ner elaborated, seeking to distinguish between “Ripple, the company – one of the best companies [he] know[s],” and “XRP, the token – [of which he] can’t work out what it’s used for.”

Mr. Neu-Ner stated that “Ripple, the company, does the banking systems, it ’replaces’ bank to bank transfers, primarily international money transfers” – adding that “you don’t need the XRP token to do that.”

Mr. Neu-Ner concluded that “So as far as I know, I can’t find a use for the token, so I’m out.” Adding “it’s centralized, and that defeats the whole purpose of blockchain.”

Do you agree with Mr. Neu-Ner’s predictions for markets? Share your thoughts in the comments section below!


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