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On Monday, the social media giant Twitter confirmed the rumours that it is going to follow Google and Facebook by banning cryptocurrency advertisements from the website.

According to the announcement, ICO ads, as well as advertisements related to exchanges, token sales, and wallet services (apart from public companies that are registered on the prime stock markets) will be removed from the site. A spokesperson said that the aim of this move is to make sure the safety of Twitter’s community.

twitter ico news

New Twitter Policy

This Twitter ICO news went viral as the social media giant clarified:

“We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of ICOs (Initial Coin Offerings) and token sales will be prohibited globally.”

This latest twitter policy will be introduced within the next 30 days. But on the other hand, Twitter will be limiting advertisement for cryptocurrency exchanges in Japan to those, who are under the observation of the national financial regulator.

There were many rumours before that Twitter would ban advertisements related to cryptocurrency especially, when it was first reported by Sky News that such content would be banned from the Twitter’s platform within the next two weeks.

What Jack Dorsey has to say about it?

CEO of Twitter, Jack Dorsey, has conceded the proliferation of cryptocurrency scam accounts earlier, and pledged to crack down on bot accounts in search of cryptocurrencies from others.

Though, some of the site’s response exertions have led to account issues for standard users. According to Twitter, safety for users is the main motivator behind this ban. Few actions were also taken by Twitter in order to prevent accounts related to cryptocurrencies from engaging with others in an illusory manner, but then again it met calls to ratify more actions, subsequent to the bans from Google and Facebook.

Impact of Twitter’s Announcement on Crypto-Market

Cryptocurrency markets were already going through a slump, but after the announcement of Twitter banning cryptocurrency advertisements, the market fell even more.

While talking to Reuters, Kapronasia’s director of financial consultancy, Zennon Kapron mentioned the perils to Twitter itself and said:

“With the increasing number of ICOs coming to market, it is an impossible task for anyone, much fewer platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly, ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.”

In January 2018, Facebook restricted cryptocurrency advertising while the ban from Google was announced at the beginning of this month.

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Bitcoin Price Once Again Struggles to Sustain Momentum

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Bitcoin price has rebounded from $6,500 to $7,034 with the market cap of $125 billion, at this very moment. Other smaller cryptocurrencies including VeChain and Steem have somehow surpassed bitcoin with a 50% and 25% surge in value, respectively, while other major cryptocurrencies like Ethereum, EOS, Bitcoin Cash, Ripple, and Litecoin have also performed quite well over the past few days.

bitcoin price surge

Bitcoin Price Surge

Since 30th March, bitcoin couldn’t surpass the $7,000 mark, due to its low volume.  However, on 25th March, Bitcoin price achieved $9,000, with comparatively strong volumes on the cryptocurrency exchanges. But since then, the price of bitcoin has seen a constant decline. Even though the price of Bitcoin went to $8,800 but then again, it failed to sustain momentum and its price fell to $6,400.

For surpassing the $7,500-mark, Bitcoin will have to sustain its volume for the next few days, then it will be able to move back to the $8,000 mark.  At this time, the RSI (Relative Strength Index) of bitcoin is at 39.2 however, earlier, it was at 30, indicating oversold situations. Bitcoin is currently being traded in a neutral zone, also the top-cryptocurrency hasn’t shown any overwhelming sell volumes.

Therefore, the next few days are going to be really important for bitcoin, as its value has increased over the past 48 hours, and according to bitcoin’s MACD (Moving Average Convergence Divergence), it has started to gain a little bit momentum.

Jon Matonis’s Views About Bitcoin

A well-known investor, an executive at VISA and the co-founder of Bitcoin Foundation, Jon Matonis, has stated that the entrance of financial institutions such as Goldman Sachs could lead to an increase in the demand towards bitcoin (in the mid-term). Different Bitcoin analysis are being done, but if the leading cryptocurrency can recuperate from its present bear cycle, then experts like Matonis are predicting a bull run for the top-cryptocurrency, Bitcoin.

Matonis said:

“I think it’s fabulous that they’re getting into it because it brings in new liquidity. They’re going to develop futures markets, options markets, I even think you’re going to start to see interest rate markets around bitcoin. We’re used to hearing things about Libor, the index for bitcoin interest rates is Bibor”

SEC Against ICOs

Also, according to the New York Times report, the ICO founders, called Centra, were arrested for defying US SEC (Securities and Exchange Commission) as they were distributing securities without getting any approval from the US Securities and Exchange Commission. If the SEC still keeps on curbing ICOs, it could lead to a wane in motion within the ICO ecosystem, globally.

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Buying Bitcoins with PayPal through VirWox

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PayPal is one of the most well-known services of online transactions. It makes online, fiat transactions fast and easy while on the other hand, Bitcoin is both a currency and a payment system that operates independently. Due to the speed, security, and convenience of Bitcoin, the demand for the digital currency has increased dramatically.

Although, one question that strikes everyone is whether you can buy Bitcoin with PayPal? Well, yes and here’s how.

Buying Bitcoins with PayPal

VirWox! Buy Bitcoin Through VirWox!

People claim that buying Bitcoins with PayPal is difficult, mostly because bitcoin traders expect this system to be dangerous and risky, with a high chance of having their money stolen, and may refrain from purchasing Bitcoins through PayPal.

There are two methods that allow one to buy Bitcoins with PayPal: VirWox or credit cards.

VirWox charges commission fees, but buying bitcoins with PayPal through VirWox is much easier than using a credit card.

How to Buy Bitcoins with PayPal by Using VirWox

Step 1:  Go to the website of VirWox and register for an account.

VirWox is an exchange of virtual currency, you can buy Bitcoins, Lindens and much more.buy bitcoins with PayPal through VirWox

 

Step 2: Click on the deposit button on the sidebar

buy bitcoins with PayPal through VirWox

 

Step 3: Choose how you want to deposit your funds.

You can use PayPal or credit cards using Skrill payment. Note that you can only deposit limited amounts of money every 24 hours. Your 24 hours limit will be increased as you complete successful transactions.

buy bitcoins with PayPal through VirWox

 

Step 4: Convert your USD to SLL. Click on “place an order”

buy bitcoins with PayPal through VirWox

 

Step 5: Decide how many USD you want to convert to SLL and click “Next”.

buy bitcoins with PayPal through VirWox

 

Step 6: Confirm your order and convert your SLL to Bitcoins.

Just click on the “BTC/SLL” button on the sidebar.

buy bitcoins with PayPal through VirWox

 

Step 7: Enter the number of bitcoins you want to buy using SLL.

buy bitcoins with PayPal through VirWox

 

Step 8: You will now be able to withdraw your bitcoins and send them to your wallet. Click the “Withdraw” button.

buy bitcoins with PayPal through VirWox

 

Step 9: Enter the number of bitcoins you wish to withdraw, then enter your Bitcoin address wallet and click the “Request Withdraw” button.

buy bitcoins with PayPal through VirWox

Note: On your first transaction, there may be a 48-hour delay until your bitcoins are sent to your wallet. Although, after your first, the rest will be instant and can be traced in the blockchain.

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Bitcoin Nears Bear Market Territory

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Bitcoin value is currently at 2502.00 US dollars, means down about $500 from its peak of $3000 at 12th June. Accordingly, other cryptocurrencies such as Litecoin and Ethereum also face the similar decline in values. The thing is, overall cryptocurrencies trend has been gradually dipping from last few weeks.

It is really odd to put old security terms to unique digital currencies’ procedure, which makes it clear that digital market is approaching the conventional 20% failure. The bubble was the most repeated word used by the experts. In addition, two weeks before the peak of it, Robert Hackett also diagnose a bubble.

Some important features of a bubble in technology race are, it should be craziest, certain and unjustified in reality. Matt Prusak the famous strategist brings some example of “dump money”. Few of them are entertaining if you are not facing any losses right now. Prusak also points out the beginners in the bitcoin market.

Creator of #2 cryptocurrency Ethereum Dmitry Buterin has been watching for correction and tweeted,

For more details, Prusak also point out the BroBible’s post “What is The Etherum [sic] Cryptocurrency [sic] and How Will It Make You Rich AF?”  which was with the spelling mistake, as the digital market was heading down.

Prusak elaborates many other proportions of crypto-mania but we’ll mention here one more. Through the course of lead-in, Ethereum’s value has been tracked by Ethereum classic’s values. While ETC is a fork whereas ethereum is a cryptocurrency with worldwide adoption.

Prusak says,

“highly likely the price [of ETC] has been driven significantly higher by uninformed investors simply not understanding the difference between the two – similar to how adding “.com” to a company’s name in 1999 sent stock prices up on average 74%.”

Basically, this is the revolutionary stuff, long-term potential for buying opportunity.

Tags: bitcoin value, bitcoin market, bitcoin exchange

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Semi-Decentralized scaling solution

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Scaling solution Moonbeam is developing by the Bitcoin exchange and wallet provider. Moonbeam is a platform which does not need any SegWit’s transactions.

This platform will provide the proper way to different platforms. Bitcoin exchanges, its hosted wallets, and payment procedures will be available on one platform.  This is basically one-way payment channel with each other.

How does it work:

By taking the transaction’s off-chain, Moonbeam has the ability to reduce the transaction’s fee for its users and Bitcoin’s benefits users usually by dropping the crowding in Mempool. Because this platform can open standardized one-way payment channel contracts with one another.

In these contracts, one party keeps the complete check of transactions and locks up the few bitcoins till the payment sends to another party for the limited time period. Before the timeout, the party who locked up the funds has the ability to send a large number of off-chain transactions by using that locks up bitcoins. whereas, each channel comprises of two on-chain transactions. first one is to open the channel and other is to close it.

These transactions are off-chain, without the blockchain confirmation these transactions are taken as to the simple web page. Luckily, these transactions are economical, means two channel needs minor fees. And, the other ones are completely free of fees.

This payment method is not newborn in the technology era, Satoshi Nakamoto uses the preliminary code for payment channels in Bitcoin’s first release. Today, Bitcoin has the ability to exchange and contrivance these contracts on the blockchain.

Moonbeam is ready to facilitate such type of channels. In this way, heavy volume platform can easily make contact with each other.

Trust:

Moonbeam is basically the semi-decentralized project. It creates the trust level of its users by providing them secure service. A hosted wallet become custodial account where all the transactions operations are done. Whether it is about to manage the funds or send or receive the transactions. Users don’t have the approach to keys directly, an exchange such as coin base or coin mama works in this manner.

Another downside:

There are few other potential downsides of this platform. When we open these channels, for a time period, committed capital should be in bitcoin among the cost of the capital. If the receiver doesn’t use the channel, the platform will wait to regain the control of funds, demanding heavy financing costs.

Another risk is the use of DNS. This type of attacks includes the rerouting domain name request to attacker’s server. These attacks are mostly used to get payments over to another channel which were meant for the authentic server.

Moonbeam does not require any fork to make it impressive solution and didn’t offer the level of decentralization of a lightning network in bitcoin’s scaling troubles. It may be applied by hosted wallets.

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View: 398

South Korean Blockchain Startups Bypass ICO Ban

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After South Korea banned ICOs (Initial Coin Offerings), things seem to have slowed down; however, the ban hasn’t totally halted the flow of new digital coins on local exchanges. Despite the South Korea ICO ban, startups in the country haven’t closed their doors on the fundraising process and are settling their ICOs overseas and then, listing their digital coins on the exchanges of South Korea. The expansion arises on the heels of a report which suggests that the country, South Korea, is reconsidering its stance on ICOs.

blockchain start ups

Crackdown on Crypto-Markets

In September 2017, South Korea unleashed its crackdown on the cryptocurrency markets and banned ICO listings in the country. This move by South Korea threw a wrench into trading volumes of cryptocurrencies, where the price of Bitcoin is considered to trade at a heavy premium against other markets. Also, a rumour was circulating last month that the investors in South Korea might be scooping up Bitstamp (Luxembourg-based bitcoin exchange), in a contract which has the worth of almost $400 million; however, these reports haven’t been confirmed yet.

With all the other news related to the virtual currency exchanges, it’s been observed from several sources that Bitstamp, as it is one of the oldest exchanges, is in the final stage of being vended to the investors of South Korea for $400 million; however, buyers and the exchange, both are not commenting on it.

 

ICON (ICX)

For now, the surge has started to turn for ICO issuers, as it’s proven through ICON (ICX), which is a new coin developed by DAYLI Financial Group (Seoul-based fintech), though it is issued in Switzerland. The ICON Foundation is listed in Switzerland and works out of Korea. The top two cryptocurrency exchanges of South Korea are; Bithumb and Upbit. Both of these exchanges support ICON for trading. While South Korea followed China and banned ICOs, the issuing firms have discovered a way to avoid the regulations. ICON has been proved as a lucrative investment up to now, as it started trading at $0.11 and rocketed to $2.64 immediately.

 

Park Nok-sun, the NH Investment and Securities cryptocurrency analyst told Reuters that the listing on the trading platforms of South Korea is substantial, since it’s the first-platform-coin of the country that has advanced on code which can support other applications as well. ICON isn’t the only digital currency of South Korea that have evaded the ban. This trend has matured, as almost 12 companies have launched ICOs abroad; however, they’ve also listed their coins on the exchanges of South Korean, including Hyundai subsidiary Hyundai BS&C.

According to Reuters, regulators of South Korea want the blockchain startups of the country to be “transparent” about the international deals but at the same time, it doesn’t intend to be a hurdle in their way. Meanwhile, it would be inexpensive and much easier for South Korea to let the local startups launch their token sales locally again.

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