CME Rebuffs Smaller Bitcoin Fans While Cboe Leads in Crypto-Futures

  • Chicago rival Cboe has consistently seen more futures volume

  • CME CEO says Bitcoin futures contract will be a ‘slow grower’

CME Group Inc. might be the world’s biggest exchange, but it lags behind a rival Chicago exchange in the nascent Bitcoin futures business. That’s partly a design decision.

The CME contract was built to “make sure that we did not attract the small retail participants,” Terry Duffy, chairman and chief executive officer of CME, said in a conference call Thursday to discuss quarterly earnings. “That’s not something that we wanted to be a part of, so our contract is much larger than our friends down the street’s contract. I think that is the prudent thing for us to do.”

The “friend” is Cboe Global Markets Inc., the winner in the volume battle so far. The companies launched their futures on back-to-back weekends in December. Traders are using Cboe’s product more, even when you account for the fact that CME’s contract represents five Bitcoin versus just one at Cboe. During the past five days, Cboe has seen about 7.5 times more volume, according to data compiled by Bloomberg. (You’d expect just five times more volume if the two companies were tied.)

Because CME’s contracts are five times more valuable, that might be keeping smaller investors at bay. Also, TD Ameritrade Holding Corp., the big retail broker, offers Cboe’s futures to clients but not CME’s.

“On the revenue side, it’s going to be I think a slow grower,” Duffy said. “Which is fine.”

To trade CME’s futures, investors must set aside collateral — known as initial margin — equal to 43 percent of the order’s value. That’s an unusually high figure for futures markets, a reflection of the risk and volatility in Bitcoin. Don’t expect CME to budge on that.

“The last thing I would ever want to do is to potentially lower the margins and just think that we could effectuate a tremendous amount of trade off of this,” Duffy said. “We will not do anything in the near term that we think that could increase the trade at the point of introducing additional risk to the system.”

CME on Thursday reported net income of $2.9 billion. The overhaul of the U.S. tax code approved in December boosted that figure by $2.6 billion because it reduced the company’s deferred tax liabilities. The exchange got more than $5 of revenue from each Bitcoin contract traded, much higher than the 74 cents it generated from all its derivatives.

Source

https://www.bloomberg.com/news/articles/2018-02-01/cme-rebuffs-smaller-bitcoin-fans-as-cboe-leads-in-crypto-futures

How Venezuelans Can Earn Dollars & Bitcoin With PointsPrizes

Recently PointsPrizes has grown a huge user base from Venezuela. Perhaps that should be no surprise, since we’re providing real opportunities to earn United States Dollars in a country currently stricken by economic difficulties and inflation.

To put things into perspective our standard prize is $20, which is approximately the average monthly income in Venezuela. As a company we therefore feel an ethical responsibility to address our Venezuelan users directly to offer the best advice we can.

I don’t feel it’s our place to comment on the politics or reasons for the economic problems in Venezuela, other than to say that we at PointsPrizes are extremely sympathetic to the plight of ordinary Venezuelans right now. We are prioritizing the sending prizes to all those users who deliver value through our platform, including free Bitcoin, free PayPal money and barterable items like gift codes. We know life and death may depend on it and I can confirm that prizes have been sent to some of our users based in Venezuela.

Why Offers Aren’t Converting Easily For Venezuelan Users

Essentially every user has a commercial value to advertisers. Users from countries with strong economies like the United States, United Kingdom, Canada, Australia and Northern Europe are far more valuable to advertisers than countries going through severe economic problems and social turmoil.

That’s the reality and we’re going to be honest with our users about that. Therefore, if you are currently using PointsPrizes in Venezuela, you should carry on reading – because I will explain exactly what you need to do to earn regular prizes with this website.

Multiplying Your Commercial Value With Referral Points

We designed PointsPrizes to give anyone with an internet connection the ability to earn prizes, regardless of where they live. However, users need to understand what value they have and then focus on those areas. In the case of users from Venezuela your value currently lies in recruiting users from countries that advertisers are interested in.

We award referral bonus points, for every real account that you recruit, of between 1 and 10 points. This means that to earn 3000 points you need to recruit a maximum of 3000 users to our platform. However, it might be far less than that if you can recruit users from the United States who will complete offers and earn you the equivalent of 10% of whatever they earn.

That number of referrals might sound like a lot, but really it isn’t as difficult as you might think. Our landing pages have over a 65% sign up rate.

That means if you can get approximately 150 new users to visit us through your referral links per day, then you should have a strong opportunity to earn $20 per month.

We provide detailed methods in this blog that will teach you how to recruit users with your referral links. Some methods are more effective than others so try different things to see what works, or even invent your own ways of driving potential users through your referral links. We also have support staff that will advise you and give you whatever additional help we can:

Finally, I want to send our users from Venezuela our best wishes from the PointsPrizes team!

Source

https://www.pointsprizes.com/blog/19/how-venezuelans-can-earn-dollars-bitcoin-with-pointsprizes

Bitcoin Transaction Fees Are Pretty Low Right Now: Here’s Why

The relatively high transaction fees on the Bitcoin network were a major topic of conversation last year, but these fees have been plummeting so far in 2018. According to data from CoinMetrics, bitcoin miners are now collecting less than a third of the value they were collecting in fees at one point in December 2017.So what’s causing this decline in the costs of on-chain transactions? Is it as simple as declining demand leading to a lower price? Are there other factors at play? Let’s take a closer look.The Simple Explanation for Lower FeesIn 2017, the congestion on …

Read more –> CLICK HERE all content is copyright Bitcoin Magazine.

Need Bitcoin marketing and PR? Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

Read More

Crypto Today: Bitcoin weaker below $ 11k, NEM dives -8%

The retreat from above the $ 12k mark extends into a second day today, with Bitcoin losing nearly 5% to trade below $ 11000 for the first time in three days. The move lower is mainly driven by downbeat , as the hacking incident against the Japanese crypto exchange Coincheck continues to weigh on the investors’ minds.

Moreover, mounting fears that Bitcoin could crash by 80%, as warned by experts should the Tether scam comes out to be true, also collaborates to the bearish bias seen in the spot over the last few trading sessions.

According to Omkar Godbole, Market Reporter for CoinDesk, “while bloggers have long accused Tether of creating the asset out of thin air, news reports are now speculating doomsday scenarios following a CoinDesk report that suggests the startup has broken ties with an auditor acquired to calm market fears.”

“In the press, experts have been quoted as saying that bitcoin (BTC) price could crash 80 percent if it turns out Tether is fraudulent. And though that scenario doesn’t appear likely, coupled with , it does perhaps increase the odds of a break below $10,000,” Omkar added.

Elsewhere, the Swiss Economy Minister, Johann Schneider-Ammann, was reported as saying that his country wants to be a “Crypto-Nation” while the Asian countries, including Japan, continue to introduce regulatory clampdown measures in order to curb the speculative crypto trading.  

Of all the top 10 cryptocurrencies by market cap traded, NEO bucks the downtrend and enjoys 5.50% gains. Ethereum drops 3.80% to $ 1169, Ripple loses 6.25% while NEM, the 10th-largest cryptocurrency with a market capitalization of $8.06 billion, dropped 8%, according to the CoinMarketCap data. Meanwhile, the cryptocurrency market cap eroded to $ 558 billion, with Bitcoin’s market cap also easing back to $ 187.42 billion.

Source

https://www.fxstreet.com/news/crypto-today-bitcoin-weaker-below-11k-nem-dives-8-201801300648

NIST: Bitcoin Cash is the Original Bitcoin Chain

This post was originally published on source

The National Institute of Standards and Technology has released a paper which claims that Bitcoin Cash is the original Bitcoin chain. The provocative statement was published in a larger document about blockchain technology entitled “NISTIR 8202 – Blockchain Technology Overview”. It was penned by NIST’s Dylan Yaga and Peter Mell with assistance from G2’s Nik Roby and Scarfone’s Karen Scarfone.

The paper itself attempts to provide solid definitions of concepts surrounding blockchain technology. These include aspects of the innovative data storage technique such as hardforks. Whilst the 57 page document is largely straightforward and non-controversial, the same cannot be said for the section on Bitcoin Cash.

“In July 2017, approximately 80 to 90 percent of the Bitcoin computing power voted to incorporate Segregated Witness (SegWit, where transactions are split into two segments: transactional data, and signature data), which made it possible to reduce the amount of data being verified in each block. Signature data can account for up to 65 percent of a transaction block, so a change in how signatures are implemented could be useful. When SegWit was activated, it caused a hard fork, and all the mining nodes and users who did not want to change started calling the original Bitcoin blockchain Bitcoin Cash (BCC). Technically, Bitcoin is a fork and Bitcoin Cash is the original blockchain. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.”

The NIST paper has been prepared as an introduction to blockchain technology. It states that it will go “beyond the hype” to deliver basic yet important information to those not familiar with the space. The NIST have also released a blurb about the document. It reads:

“This publication is intended to provide a high-level technical overview of blockchain technology. It discusses its application for electronic currency as well as broader uses. The document looks at different categories and approaches for different blockchain platforms.”

The NIST paper has also been presented publicly for comments. Naturally, with such a heated debate within the cryptocurrency community both before and after the hardfork which created Bitcoin Cash last August, it’s likely that Bitcoin maximalists and all those hostile to BCH will present an onslaught of responses to refute the statement’s made by NIST. The deadline to submit feedback for those outraged, bemused, or confused is February 23, 2018.

For those unaware, Bitcoin Cash was created as a potential solution for the ongoing scaling debate within the Bitcoin community. For many, Bitcoin was to serve as a means of exchange and given its surge in popularity, it was unable to perform this role efficiently. As fees and transaction times increased, a proposed change to the original code sought to increase the capacity of each block within the blockchain.

However, the majority of the community disagreed with such a response to the issue of providing more transactions per second. Since there was a divide within the miners who validate transactions on the network, two competing cryptocurrencies emerged from the fallout of last August. These have become known as Bitcoin and Bitcoin Cash. Even despite competing parties being free to go their own way and take the technology where they feel it should, there is still bitter resentment between the two.

TheBitcoinNews.com – leading Bitcoin News source since 2012

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.

NIST: Bitcoin Cash is the Original Bitcoin Chain

Source

https://thebitcoinnews.com/nist-bitcoin-cash-is-the-original-bitcoin-chain/

Bitcoin forks: inside the latest craze to hit the cryptocurrency market

by Olga Kharif

Bitcoin God arrived last month. Bitcoin Pizza was delivered in January. Bitcoin Private’s issuance date is… still a secret.

They’re just a few of the growing stable of so-called forks – a type of spinoff in which developers clone Bitcoin’s software, release it with a new name, a new coin and possibly a few new features.

Some 19 Bitcoin forks came out last year – but up to 50 more could happen this year, according to Lex Sokolin, global director of fintech strategy at Autonomous Research.

A bitcoin spinoffs - called forks - a money grab?
A bitcoin spinoffs – called forks – a money grab? Chris Ratcliffe

Ultimately, the number could run even higher now that Forkgen, a site enabling anyone with rudimentary programming skills to launch a clone, is in operation.

In a January 14 tweet, hedge fund manager Ari Paul predicted more than 10 per cent of the current value of Bitcoin and Bitcoin Cash will reside in new offshoots.

Motives behind the efforts vary. Some backers try to improve on Bitcoin. Others seek a quick profit. Developers typically score a cache of newly minted coins in a process called post-mining. Yet prices don’t necessarily hold up for long.

“Unfortunately, most fork-based projects we see today are more of a sheer money grab,” said George Kimionis, chief executive officer of Coinomi, a wallet that lets Bitcoin owners collect their new forked coins.

“Looking back a few years from now we might realise that they were just mutations fostered by investors blinded by numerical price increases – rather than honest attempts to contribute to the blockchain ecosystem.”

A fork's main advantage lies in sprouting from Bitcoin, the world's most famous cryptocurrency.
A fork’s main advantage lies in sprouting from Bitcoin, the world’s most famous cryptocurrency. Chris Ratcliffe

"Unfortunately, most fork-based projects we see today are more of a sheer money grab," said George Kimionis.
“Unfortunately, most fork-based projects we see today are more of a sheer money grab,” said George Kimionis. David Rowe

Take for example, Bitcoin Diamond, with a price that started off strong. It didn’t last forever.

“Bitcoin forks are kind of the new alt coin,” Rhett Creighton, who’s working on the upcoming Bitcoin Private fork, said in a phone interview.

“We are going to see now a bunch of Bitcoin forks. And they are going to start replacing some of the top hundred alt coins.” Bitcoin Private promises to offer more privacy features than the original Bitcoin.

Forks can also help start-ups raise funds in countries such as China, where ICOs have been banned.
Forks can also help start-ups raise funds in countries such as China, where ICOs have been banned. Sitthixay Ditthavong

Worth Billions

Years ago, entrepreneurs drew on Bitcoin’s code to launch alternatives such as Litecoin and later Dogecoin, seeking to differentiate themselves in name and often in features.

But while Dogecoin now has a $US744 million market value, younger clones Bitcoin Cash and Bitcoin Gold already dwarf it. Bitcoin Cash, launched in August, is now the fourth most valuable coin, worth a total of about $US27 billion, according to CoinMarketCap.com.

“Bitcoin Cash was successful, quite a lot of momentum,” Charlie Hayter, CEO of coin researcher CryptoCompare, said in a phone interview.

Years ago, entrepreneurs drew on Bitcoin's code to launch alternatives.
Years ago, entrepreneurs drew on Bitcoin’s code to launch alternatives. Chris Ratcliffe

“Now other traders try to see if they can pull off the same thing.”

A fork can often make millions for its developers as well as the server farms running and supporting the new software.

Bitcoin Gold distributed 100,000 coins, currently worth almost $US190 apiece, to an endowment funding its ecosystem and development. About 5,000 of those coins went to the core team that created the fork. If the coins appreciate, that’s a boon for the developers as well.

Miners – whose computers and servers process cryptocurrency transactions – have been helping create new coins, hoping for fat rewards.

Bitbank and some Chinese miners were instrumental when Bitcoin core developer Jeff Garzik created UnitedBitcoin, which forked in December.

Like many other forks, it can be mined using older gear that can’t compete with state-of-the-art machines on the Bitcoin network. So if UnitedBitcoin takes off, miners with older machines that support it will be minting money.

Little Miners

Many of the new forks are looking to lure mom-and-pop miners, who’ve been pushed aside by industrial server farms. Some forks allow GPU mining, which means anyone with a graphics card can potentially participate.

Even some of Bitcoin's initial forks are getting forked, with Bitcoin Cash getting a proposed derivative, Bitcoin Candy.
Even some of Bitcoin’s initial forks are getting forked, with Bitcoin Cash getting a proposed derivative, Bitcoin Candy. RICK BOWMER

Imagine “rigs set up in a garage,” Nick Dooley, a core developer of Bitcoin Interest, said in a phone interview. “Everybody has a graphic card, and most people can afford to purchase one that can mine a certain amount of coins.”

Even some of Bitcoin’s initial forks are getting forked, with Bitcoin Cash getting a proposed derivative, Bitcoin Candy.

Support from miners isn’t always enough to maintain a price. SegWit2x [B2X], a fork from late December, drew more than 10,000 miners, according to an email from one its creators. But B2X has been sliding, losing more than 90 per cent of its value since Dec. 22, according to exchange Yobit.net.

“We provide our users with choices and let them decide which assets they are going to use and which not,” Coinomi’s Kimionis said. “We don’t make that decision for them.”

Bloomberg

Source

http://www.afr.com/technology/bitcoin-forks-inside-the-latest-craze-to-hit-the-cryptocurrency-market-20180124-h0niju

Bought my first Bitcoin today. I got it really cheap.

Report

Choosing the right reason help us process the report as soon as possible.

We remove posts that include copyright or trademark infringement. If someone is using your photo without your permission or impersonating you, we may remove the content and disable the account.

To report a claim of copyright infringement, please tap continue and fill out the form.

  • Clickbait
  • Advertising
  • Scam
  • Script bot

If you report someone’s comment, 9GAG doesn’t tell them who reported it.

  • Clickbait
  • Advertising
  • Scam
  • Script bot

If you report someone’s post, 9GAG doesn’t tell them who reported it.

  • Clickbait
  • Advertising
  • Scam
  • Script bot

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

  • Photos or videos of sexual intercourse
  • Posts showing sexual intercourse, genitals or close-ups of fully-nude buttocks

If you report someone’s post, 9GAG doesn’t tell them who reported it.

  • Photos or videos of sexual intercourse
  • Posts showing sexual intercourse, genitals or close-ups of fully-nude buttocks

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

Report as hatred and bullying?

  • Personal information shared to blackmail or harass
  • Threats to post nude photo of you

If you report someone’s comment, 9GAG doesn’t tell them who reported it.

Report as hatred and bullying?

  • Posts that contain credible threat
  • Posts that targets people to degrade or shame them
  • Personal information shared to blackmail or harass
  • Posts or threats to post nude photo of you

If you report someone’s post, 9GAG doesn’t tell them who reported it.

Report as hatred and bullying?

  • Posts that contain credible threat
  • Content that targets people to degrade or shame them
  • Personal information shared to blackmail or harass
  • Posts or threats to post nude photo of you

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

We remove comments encouraging or promoting self injury, which includes suicide, cutting and eating disorders. We may also remove posts identifying victims of self injury if the post attacks or makes fun of them.

If you report someone’s comment, 9GAG doesn’t tell them who reported it.

We remove posts encouraging or promoting self injury, which includes suicide, cutting and eating disorders. We may also remove posts identifying victims of self injury if the post attacks or makes fun of them.

If you report someone’s post, 9GAG doesn’t tell them who reported it.

We remove posts encouraging or promoting self injury, which includes suicide, cutting and eating disorders. We may also remove posts identifying victims of self injury if the post attacks or makes fun of them.

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

Report as violent, gory and harmful content?

  • Photos or videos of extreme graphic violence
  • Posts that encourage violence or attacks anyone based on their religious, ethnic or sexual background
  • Specific threats of physical harm, theft, vandalism or financial harm.

If you report someone’s post, 9GAG doesn’t tell them who reported it.

Report as violent, gory and harmful content?

  • Photos or videos of extreme graphic violence
  • Posts that encourage violence or attacks anyone based on their religious, ethnic or sexual background
  • Specific threats of physical harm, theft, vandalism or financial harm.

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

We remove and may report to legal entity about:

  • Photos or videos of sexual intercourse with children
  • Posts of nude or partially nude children

If you report someone’s post, 9GAG doesn’t tell them who reported it.

We remove and may report to legal entity about:

  • Photos or videos of sexual intercourse with children
  • Posts of nude or partially nude children

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

Report as illegal activities?

We remove and may report to legal entity about:

If you report someone’s comment, 9GAG doesn’t tell them who reported it.

Report as illegal activities?

We remove and may report to legal entity about:

  • Posts promoting illegal activities, e.g. the use of hard drugs
  • Posts intended to sell or distribute drugs

If you report someone’s post, 9GAG doesn’t tell them who reported it.

Report as illegal activities?

We remove and may report to legal entity about:

  • Posts promoting illegal activities, e.g. the use of hard drugs
  • Posts intended to sell or distribute drugs

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

Report as deceptive content?

  • Purposefully fake or deceitful news
  • Hoax disproved by a reputable source

If you report someone’s post, 9GAG doesn’t tell them who reported it.

Report as deceptive content?

  • Purposefully fake or deceitful news
  • Hoax disproved by a reputable source

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

What can I do if someone is impersonating me on 9GAG?

9GAG takes safety seriously. If someone created posts/comments/accounts pretending to be you, you can tap continue and fill out the form. Make sure to provide all the requested info, including a photo of your government-issued ID.

We only respond to reports sent to us from the person who’s being impersonated or a representative of the person who’s being impersonated (ex: a parent). If someone you know is being impersonated, please encourage that person to report it.

What can I do if I see something I don’t like on 9GAG?

  • Report it if it doesn’t follow 9GAG rules.
  • Downvote it to decide which posts/comments can go viral.

If you report someone’s comment, 9GAG doesn’t tell them who reported it.

What can I do if I see something I don’t like on 9GAG?

  • Report it if it doesn’t follow 9GAG rules.
  • Downvote it to decide which posts/comments can go viral.

If you report someone’s post, 9GAG doesn’t tell them who reported it.

What can I do if I see something I don’t like on 9GAG?

  • Report it if it doesn’t follow 9GAG rules.
  • Downvote it to decide which posts/comments can go viral.

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

Report as inappropriate username / Profile picture

  • Inappropriate & offensive Username / Profile Picture

If you report someone’s profile, 9GAG doesn’t tell them who reported it.

Source

http://9gag.com/gag/azXEVex

Buy Bitcoin with Mobile Credit is back!

buy bitcoin with mobile credit

In June 2017, CoinGate has introduced the first of its kind option to buy . Now, we are pleased to say that CoinGate is relaunching the feature once again! Moreover, we are planning to extend this feature to buying Ethereum, Ripple, Litecoin and other cryptocurrencies.

Our team was happy to receive many positive reviews on our  feature. Therefore, we took some time to ensure higher security and a smoother payment flow for our customers. Now it is even more user-friendly and convenient. So starting from this week you are able to purchase Bitcoin by sending SMS or calling to premium number again!

This feature is perfect for those who are aiming to buy a small amount of Bitcoin; equal to more or less $50. At first, we are going to introduce buying Bitcoin with Mobile Credit in 19 countries: Austria, Australia, Belgium, Canada, Cyprus, Czech Republic, Finland, France, Greece, Hungary, Ireland, Israel, Luxembourg, Norway, Poland, Slovakia, Sweden, Switzerland, and United Kingdom. You will be able to buy cryptocurrency either by calling a premium number or sending a text message.

We have worked to make it much simpler and more intuitive for our users, and therefore have integrated the purchase process to our dashboard. Due to security reasons and some fraud attempts, however, using this feature requires our users to verify their accounts before purchasing Bitcoin. We hope this shall eliminate inconvenient situations both for us and for our customers. Also, we have set a monthly purchase limit of 250 euros (subject to change in the future). For larger purchases, we welcome customers to buy bitcoins with bank transfer or credit/debit card.

Another exciting upgrade to this service is coming quite soon. Bitcoin has gone up in price significantly, as you may all know. Yet, there is a number of other  cryptocurrencies that are also increasing in their prominence. As such, buying Ether, Ripple, Litecoin with phone credit – and perhaps also other cryptocurrencies – will be possible in the coming months!

If this is what you were looking for, just follow our guide and get started with Bitcoin with Mobile Credit: .

Best regards,

Your CoinGate team

The post Buy Bitcoin with Mobile Credit is back! appeared first on CoinGate Blog.

Source

https://blog.coingate.com/2018/01/mobile-credit-buy-bitcoin-ripple-ethereum-litecoin/