Crypto comeback: Virtual currency kicking into new gear

January 25, 2018 5:44 pm


Ameinfo has no idea if crypto prices are on their way up for good, or if Bitcoin will bite the dust tomorrow.

And it’s not about to speculate.

What we do know is that very exciting things are happening, springing a spirit of youth and athleticism into the future of virtual currencies.

The clear message is: “In Crypto we trust”

What’s going on?

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You’ll get a kick out of this

BBC News reported that Arsenal football club has become the first major football club to sign a deal to promote a crypto-currency.

“The club has reached an agreement with the gaming company CashBet, which is planning to launch its own currency CashBet Coin,” said the media.

“It will see CashBet Coin advertised at Arsenal’s Premier League home games.”

It said that CashBet is a US-based online gaming business which is now cashing in on the crypto hype by launching an Initial Coin Offering (ICO), looking to raise some $40 million.

An Arsenal spokesperson told BBC News that the partnership does not exist to encourage fans to bet with CashBet Coin, however those who do using CashBet’s currency would be able to convert their winnings into cash on third party exchanges.

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A good chunk of change in “exchange”

Coin Telegraph brought the news of a new crypto exchange, which, get this, will distribute dividends to Investors (shareholders), as a way to say thanks.

With more than 1400 cryptocurrencies in use, and the growth of the global virtual cash market exceeding $700 bn in January 2018, regular people are suddenly potential buyers and investors.

“However, crypto investing doesn’t compare to picking stocks on e-Trade because e-Trade is a third party between the Stock Exchange and an investor. Intermediaries or third parties don’t exist when trading on decentralized exchanges (like crypto),” said Coin Telegraph.

“A young, driven company CoinSpark with a business model focused on its investors and traders aims to become a new type of decentralized digital asset exchange where customers receive 25% of the company’s net profits.”

The company has two main strategies to ensure viability.

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The first is that it’s an offshore company located in the Cayman Islands, which saves from any government crackdown on digital currency exchange providers like what’s happening in China, South Korea and Egypt.

The second is a partnership with AlphaPoint, a fintech company that turns illiquid assets into liquid ones, enabling its customers to launch products and services by offering other companies and institutions Blockchain-based solutions to launch markets, digitize assets and reduces operational costs at an enterprise level,” said the Coin Telegraph.

An ICO for a total of 25 million Spark tokens will be made available, with the coins being valued at 0.0025 ETH, starting Valentine’s Day, Feb. 14 and ending March 14.

Feel the love yet?

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The birth of the perfect crypto

According to Business Insider (BI), 19 year-old Erik Finman a bitcoin multimillionaire with a personal fortune of about $4 million, said he was fed up with the state of cryptocurrency, the scams and dirty dealings.

Finman’s next project is bringing on the next generation of crypto currency, according to BI.

“He tells us that he’s been flying around the world, recruiting a “consortium” of  fellow bitcoin millionaires around the world (“bitcoin whales”), from Dubai to San Francisco. And within the next few months, Finman says, they’re going to debut their master plan for a new cryptocurrency,” said BI.

“Yet to be revealed, the big idea, though, is that Finman says this new cryptocurrency will be everything bitcoin currently is not,” said BI, starting with the new coin being very user friendly.

“The project will be designed to increase crypto prices on a gentler, kinder slope that makes it a more predictable store of value, Finman told BI.

The project promises not the near $40 fees for sending or receiving bitcoins, not nerar the congestion on the networks, but rather small fees and shorter turnaround times, BI reported.

“The new consortium says it has promising ideas on cutting down the electricity usage of cryptocurrency mining,” BI said.

Courtesy of BI Intelligence

But Finman told BI that he advises current investors not to sell the bitcoins yet as he maintains his considerable investments in existing cryptocurrency, out of his belief in the concept.

 

 

 

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Hadi Khatib
By Hadi Khatib
Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about it.



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