Iconiq Lab, based in Germany, is a global token sale accelerator and initial coin offering program. According to a recent announcement by Iconiq Lab, it has decided to launch two new branches in the US and Asia. This announcement was made public by Patrick Lowry, CEO of Iconiq Lab. The US branch is expected to be launched in New York in May, while the Singapore branch will be launched in July 2018.with the first batch scheduled to begin in Nov. 2018.
When asked about the reason for that launch, Patrick Lowry stated that due to the terrific success rate of German accelerator program and the unexpected feedback from the target community are the main reasons behind that launch.
Why was Iconic Lab launched?
Reason behind the launch of Iconiq Lab was to compensate the needs of both crypto investors and efforts leading to the completion of their own initial coin offerings. Iconiq Lab also launched a global ico accelerator program which was further made possible through the launch of their own token, the ICNQ Club Membership Token.
Basically the Iconiq Lab refers to a German based initial coin offering program which is also acting as a token sale accelerator program at the moment. Edge of that company is that it funds, develops and accelerates the most promising crypto-startups leading to their own token sale. Their speciality is that they help launch tokens supported by real-world business demands and sustainable solutions.
Financial cooperation with EOS and FinLab
FinLab AG is a public trade based German FinTech company builder. In Nov. 2017 it placed a an investment into Iconiq Lab which no doubt was a minor one but had strategic importance. This mutual cooperation led to the successful launch of an accelerator program on behalf of Iconiq Lab. the result and feedback was quiet amazing as Iconiq Lab received almost 200 applications for the first batch of that program in late 2017. Due to several reason, it shortlisted the applications and eventually selected just five applicants to enter the program. That program was properly launched in Feb. 2018 in Germany.
These five selected companies are propelling towards their own initial coin offering and are at the moment in the middle of a digital roadshow. These companies are also giving rise to innovative Blockchain solutions.
Iconiq Lab’s mission behind all these efforts is to allow the flow of characterized creativity by using tokens as financial instruments. According to some crypto experts it will also facilitate crypto investors with dependable data in case they are trying to judge new token investment opportunities and their future impact.
Mike Hearn, a long-time bitcoin developer, quitted the project back in 2016. However, on Thursday, he broke his silence as he openly talked about the present state of the project in Reddit Q&A session.
Mike Hearn has since joined the banking consortium startup “R3” and in the Q&A session, he discussed multiple topics, which also included the bitcoin cash hard fork and the block size discussions that eventually directed the developers to discord over the roadmap for largest cryptocurrency of the world.
Mike Hearn Remarks
Worth mentioning, the remarks of Hearn showed his own attempts to reform the bitcoin protocol, in the year 2015 whereas, 2016 initially indicated the separation. With Gavin Andresen, who was the lead developer of the bitcoin digital currency project at that time, Hearn presented a software to advance the block size, offering a hard fork that was rejected. However, Hearn quit the core team after that, writing that the cryptocurrency, bitcoin has failed because of problems with its community.
Though at this time, Hearn thinks that the bitcoin cash has gotten many of the original problems of the project as he wrote:
“Bitcoin cash strongly resembles the bitcoin community of 2014. This is not good.”
Views About Bitcoin Cash
Hearn declared his views about the bitcoin cash, how it’s repeating the Bitcoin mistakes. For him, Bitcoin Cash lacks dignified governance, just like Bitcoin did back in 2014 and often communicates through Reddit, where according to him, users are able to censor ostracized opinions. Intrinsically, he notified the users of bitcoin cash to find an alternate platform where moderator control would be restricted and the views of the community on the upcoming advancements could be appropriately measured. He particularly expressed fear that bitcoin cash was considering to hard fork its chain without any attempt to assess support. However, he still needs the community to be audacious.
He concluded by saying:
“Liberate yourselves from just proceeding along the path Satoshi imagined and be willing to think radical, even heretical thoughts.”
With the current air of challenges and throwbacks in the world of digital currency, criticism by the wall street mains have made a further dip for these struggling crypto-babies.
Big names including Bill Gates, have showed supported to blockchains and cryptocurrencies, but also claims that he can ‘short’ Bitcoin if he could.
With such thin air revolving around, there has been a great investors rage and uncertainty following it. There has been a massive drop down of $20 billion in a past few hours. Even the top big names of these digital currencies which were better thought to be stabilized in past years have dropped down to 2 to 5 percent range.
Following these volatilities, the optimists are still advising the holders to sit tight and hang-up a little more. Despite the volatile natures, the cryptocurrencies price analysis has managed to grip a few more investors.
A former chief economic advisor to the current U.S president, Donald Trump believes in the future and sustainability of these digital currencies but doesn’t really count faith in Bitcoin, unfortunately.
The top cryptocurrencies including, Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Cardano, IOTA, and EOS have a number of the setback to float back up to the levels.
Since May 6, there has been a continuous and deadly decline even for the big names of this not-so-newly born cryptocurrencies, still babies though. Holding the cathedra, Bitcoin has caused nearly a domino effect on the rest of the currencies after its massive drop-down.
Being extremely volatile and totally dependent on its supply and demand, Bitcoin managed to hold its horses just below $9000. Following the downfall, its relief and a come-back can be expected anytime soon. BTC will only sustain stability and strength when reached above $10,000, which is a very much expected shot by the wall street mains.
But if the currency breaks again below levels $8,900, there will be a 50-day SMA drop following.
Being the second popular in the line, Ethereum has managed to reach the purchasing levels gaining the attention of the market. To maintain sustainability and a reduced risk it should prevail its levels to $745 sooner. Currently resting at $693, if the levels don’t succeed then the digital currency may face another retest of 20-day EMA. Considering a close breakout of $838 previously, there is a great possibility to hit the levels by $900 too.
The Bitcoin Cash has managed to break out of $1,600 which is remarkable transfer after being a low performer for quite a time. It has managed to intact half of its position at $1,400 after the trigger position of the ascending network. If the ascending continues breaking the May 06 high of $1849, it is expected to cross levels by $2000 soon.
But in case of the breakdowns, a 20-day EMA below the positions of $1,400 will indicate weakness.
The Ripple has managed to hold the support and investors in between the range of $0.76-$0.93777. the fluctuations have been resting on the lower ranges lately, still, it is too early for the recommendations and endorsements here. A downside downfall for up to $0.58223 would make a pair pattern target.
The trading will be considered to be hitting between the range showing the same volatility.
Stellar has been seen holding resistance at $0.48. if it succeeds its held up for the 20-day EMA, it is expected to reach the levels of $0.47766719 again. but a break during 20-day EMA will decline the levels to $0.334.
If the market is unable to pull back the currency and drag it out from its range, it is expected to enter the bounce back range for some days.
Litecoin has been pushed back into the range by the bulls after a $150 dip. After a 20-day descending, hitting below the range it needs to show resistance to rally levels of $168 to sustain strength. It’s expecting a high of $184.794.
If fails to resist the decline it can hit below the levels of $141.026. due to the absence of any high probability trade setup, any recommendation cannot be advised yet.
Cardano is, unfortunately, falling below the trendlines. It has broken below the levels of 0.00003301. if the levels continue with the current downfall, not reaching levels breaking from 0.00003445, it will keep sliding down the range lower.
The lower levels should stop the hit by 0.000029 at maximum.
Resting at a weak position, the stops should be raised by half, 0.000032 and maintain the dip at 0.000029.
After a 20-day ascending support, IOTA rested strong and firm at $2.55 levels. Levels have declined by up to $2.2117 but a high of $2.9 is very much foreseen if held resistance.
If the 20-day EMA IOTA/USD pair breaks down, there will be lost major support by $1.63.
For a past few days, EOS has been hitting the range between $16 and $19.67. if it attempts to break above the levels of $20, the wall street will manage to give it another push-up. They are in no rush typically here. But if the pair EOS/USD breaks below $16, it will sink to the levels of $14.495.
But until these consolidations rest, there is nothing much to be suggested about.
Bitcoin is a digital currency that first came in markets in 2009. The start was slow, but the whole business world moving to the internet has helped it gain worldwide recognition at a rapid speed. There are numerous reasons behind its growing popularity and all of them cannot be compiled in one post. Some of the primary reasons as to why Bitcoin is suddenly gaining worldwide recognition are discussed below.
Reasons Behind Bitcoin’s Popularity:
Bitcoin Is Stored on Virtual Wallet:
The bitcoin wallet serves the same purpose as a bank account for the traditional money. Once a user has successfully mined coins, they are stored in a virtual wallet – also known as Bitcoin wallet address. Each user is allocated a wallet to store coins. The wallet is then used to send or receive coins.
Bitcoins Are Becoming Mainstream:
During its early days, Bitcoin worldwide popularity was considered to be some kind of internet oddity. But this not the case anymore.
With several leading banks, business corporations and retail stores accepting it as a method of payment; the trend amongst the general public is shifting and the number of people buying/selling their favorite items is increasing each day.
Bitcoin Is Immune to Counterfeiting:
The currency is autonomous to third party influence and is created purely through cryptographic techniques. The code used in Bitcoin generation is impossible to replicate, which ultimately makes it immune to counterfeiting.
In addition to cryptographic features, gain Bitcoin gives its user complete anonymity. The anonymity, as a result, gives the users the freedom to transfer coins across the internet without regulators, censor or nosey authorities.
A network of Miners:
The backbone of this entire system is the network of miners. A miner is a high-end computer user who supplies the Bitcoin network with the processing power. The power is then used to maintain a tally of all transactions.
Maintaining a transparent tally is essential as it helps prevent fraud. The miners, in return, are awarded brand new bitcoins for their services.
Acceptance as A Form of Payment on Global Scale:
Bitcoin has often caused an argument over the reliability of its design. For years, the Cryptographers argued whether the digital currency is well-designed and can it be used to buy anything?
Luckily, Bitcoin is erasing all the doubts over its authenticity. Now you can buy a car, real estate, toys for your kids, yacht, and nearly everything using bitcoins.
Running a small/large business? Learn how to accept Bitcoin payments here.
Trades Through Bitcoin Are the Easiest and Cheapest:
Another reason as to why Bitcoin is gaining worldwide recognition is its simple and easy transfer. Whether you want to send coins to a friend next door or someone living in distant parts of the globe, all it takes is a few minutes to complete the transaction. And since the currency does not need to go through any clearing house (government, The central bank, Visa card, master card, etc.) the transactions are cheaper than those of traditional currency.
These are some of the reasons as to why Bitcoin is gaining popularity throughout the world. In conclusion, the currency is easy and cheaper in terms of making transactions, cannot be counterfeited and is accepted on a worldwide scale. Considering all these factors, Bitcoin is only going to hit the new heights in the future.
Read our guide on what are the best Bitcoin exchanges to safely transact the coins.
Bitcoin has taken the market by storm and the number of people looking to make transactions through this currency is increasing each day. If you are one of those fascinated by this mysterious yet amazing currency and want to discover its advantages and disadvantages, you have come to the perfect place. This article will provide you with all the information about advantages and disadvantages of bitcoins.
So, let’s get started with knowing what are the pros and cons that come with this currency.
Advantages of Bitcoin:
The list of basic benefits of Bitcoin includes:
- With bitcoins, there are no boundaries on transactions. The users can send the currency anywhere in the world at any given time without any hassle.
- Bitcoin transactions don’t need rescheduling in the event of bank holidays.
- The users are in complete control of their money as there is no central authority to regulate the Bitcoin flow.
- Since the users are in complete control of the currency, it allows them to control the transactions as well which helps in keeping the Bitcoin network safe.
- There is no way for merchants to charge extra fees without it coming into the notice of users. In case a merchant wants to charge extra fees, he must inform the consumer about those charges.
- Bitcoin payments can be finalized without a user having to give away his information. This gives Bitcoin users complete anonymity.
- The fact that Bitcoin users are not supposed to reveal their identity is extremely handy as it provides protection against identity theft.
- Bitcoins can be encrypted and backed up to ensure the safety of your money.
- All Bitcoin transactions are recorded in a public ledger called Blockchain which enables everyone to see those transactions. This makes the transaction process more predictable and transparent.
- Personal information of users is always hidden and no one can access it unless a user decides to publicize it.
- Bitcoin is cryptographically secure and can never be influenced by a government, bank or a third person.
- Bitcoin payments involve very low fees, that too within Bitcoin system.
- How much fee is charged on a transaction depends on the urgency level of a user. The faster he wants it to process, the more priority it gets. As a result, the fees become higher.
- In countries like China where moving cash to other countries is prohibited, Bitcoin is a great way to transfer money to different parts of the world.
These are some major advantages of Bitcoin. Now let’s move to the next part of the article, which discusses the disadvantages of Bitcoin.
What Are The Disadvantages Of Bitcoin?
The list of basic disadvantages of Bitcoin includes:
- Bitcoins are finite, which makes them extremely volatile.
- A very small portion of the business is willing to accept Bitcoin as a method of payment.
- It needs strong networking to spread the word on bitcoin.
- Bitcoin is relatively new and most of its features are incomplete.
- There is still a long way to go before Bitcoin gets to its full potential.
These are some advantages and disadvantages of Bitcoin. The cryptocurrency has many unique advantages that traditional currencies lack; however, it also has disadvantages. Mainly due to the fact that Bitcoin is relatively new and will take the time to reach to its full potential.