Economist: If Bitcoin is a Bubble, Final Stage of ‘Panic’ on the Horizon
Tulip mania was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels before dramatically collapsing in February 1637. Some skeptics consider Bitcoin to be the tulip bubble of the 21st century, but it’s really not so simple.
Bitcoin: Bubble or New Global Currency?
Let’s consider the theory of Hyman Minsky, the U.S. economist whose theories on financial fragility were highlighted during the 2008 collapse of the housing market. According to Market Watch, he believed that an asset bubble has five stages: displacement, boom, euphoria, profit-taking, and panic.
Under this framework, policy adviser at the Federal Reserve Bank of San Francisco, Joost van der Burgt, says that if Bitcoin is in fact a bubble, it’s likely at the beginning of the ‘profit-taking’ stage, meaning that ‘panic’ is not here yet, but is coming.
Looking back, according to van der Burgt, the ‘displacement’ phase of the bubble came in the years after the release of the Bitcoin white paper in October 2008. In those early stages, the concept of the coin was catching on, but it didn’t happen over night. Remember, Bitcoin didn’t trade above $100 until 2013.
The next phase was the ‘boom’ phase, which van der Burgt describes as follows:
“The subsequent ‘boom’ phase is characterized by prices rising slowly at first, but then gaining momentum as more and more participants enter the market, fearful of missing out.”
In this stage, fear of missing out (FOMO) saw companies attempting to capitalize on the industry by getting involved with coins and blockchain. In some cases, companies simply added the word blockchain to their names in attempts to stir up interest from investors.
Then came celebrities, like Steven Seagal and Floyd Mayweather, who attempted to get a piece of the action by endorsing newly developed cryptocurrencies. Unfortunately, in most cases, these companies with celebrity endorsements have more often that not been exposed as frauds and subsequently shut down.
Moving closer to the present, van der Burgt argues that the Bitcoin bubble entered the ‘euphoric’ stage, which he claims parallels the period leading up to the 2008 financial crisis.
“The euphoria phase is also when people start to borrow extensively to finance their investments,” van der Burgt wrote. “According to a recent survey, 18% of active bitcoin investors have financed their investments by credit card, and 22% of this group indicated that they have not yet paid off their credit card balance.”
Now, after the price of Bitcoin lost more than half its value since peaking in late-December 2017, van der Burgt believes that the market is entering the ‘profit-taking’ stage, a phase where so-called smart money begins to head for the exits, leaving only one step left before the bubble pops. “The subsequent ‘panic’ phase, should it come to that, commences when reality sets in and bitcoin’s price would substantially crash,” wrote van der Burgt.
Fortunately, van der Burgt admits that he could be wrong, and that, as we here at NewsBTC believe, the digital coin will (despite the volatility week to week or month to month) continue to rise in value. He writes:
“Then again, maybe bitcoin is different than anything we have seen before, and maybe a decade from now its market capitalization will be sky-high as it attains the status of a new global currency.”
While it is possible that Bitcoin’s rise is in some ways comparable to a bubble, it’s almost impossible to truly know. One thing worth remembering is that the coin and the underlying blockchain technology have a plethora of real-world applications (tulips, it can be said, are simply decoration), and as van der Burgt states, it could become a “new global currency.” I think that’s much more likely.
Bit Brother Announced 2.39 Bitcoin has been Mined
Bit Brother Limited (the “Company,” “we”, “BTB” or “Bit Brother”) is pleased to announce till the time this Press Release is published, all 1,400 S19J Pro cryptocurrency mining servers have been operating with the total hash rate of 140,000 TH/S in Texas mining farm, which is owned by BTB’s subsidiary Bit Brother New York Inc (“BTB NY”). And 2.39 Bitcoin has been mined.
The Company seeks to provide as much transparency about its bitcoin mining operation as possible. The link below reflects the BTC we have mined in real-time:
Ralph Jones, CEO of BTB New York, commented gladly, “The operating of the 1,400 mining servers is an important step which reflects the substantial achievement of BTB’s North American blockchain business, and represents that BTB’s transformation into the block industry was successful. Management team of BTB will continue to explore more green power to expand the mining farms, purchase more mining servers, and devote more computing power. The Company is committed to develop its cryptocurrency and blockchain businesses to benefit the Company, as well as its shareholders.”
These mining results do not include any financial results for the Company and do not address the Company’s other, non-mining operations. United States generally accepted accounting principles for cryptocurrency mining are complex, emerging, and uncertain. Cryptocurrencies may not be recognized as cash or cash equivalents, and mining activities may not qualify for revenue recognition. Cryptocurrencies have no inherent value, are not legal tender recognized by any governmental entity, and might not be able to be converted into fiat currencies. Investors are advised not to place undue reliance on mining results alone, without considering other financial and non-financial metrics.
About Bit Brother Limited
Bit Brother Limited (formerly known as Urban Tea, Inc.) was incorporated in the British Virgin Islands as a company with limited liability on November 28, 2011. Our business currently consists of cryptocurrency mining in North America, and the distribution and retail of specialty tea products. For more information, please visit: www.bitbrother.com
OpenNode partners with Lemon Cash to enable Lightning-fast Bitcoin payments and payouts for its 1M+ customers
OpenNode continues its relentless growth and innovation of the Lightning Network through its partnership with blockchain-powered Lemon Cash, an Argentine financial services company best known for its digital wallet and Argentina’s most-downloaded cryptocurrency app. Powered by OpenNode’s industry-leading technology, Lemon Cash customers will soon be able to facilitate Bitcoin transfers in and out of their wallets as well as facilitate payments in Bitcoin by leveraging the low cost and instant settlement of the Lightning Network.
More than one million Argentinians have adopted Lemon Cash with exponential growth expected to continue following its recent entry into the Brazilian market.
“This partnership is yet another example of our capability and belief in Bitcoin as the new base layer for global payments,” says Josh Held, Head of Strategy at OpenNode. “We’re proud to support Lemon’s mission, its desire to scale and benefit its customers and ultimately the growth of the Bitcoin economy in Latin America and beyond.”
Lemon Cash Co-Founder Borja Martel Seward added, “Introducing the Lightning Network to more than one million users in partnership with OpenNode will be a huge step towards our main goal: to make crypto more usable and accessible in LATAM.”
In 2017, OpenNode was the first company to innovate on the Lightning Network, a Bitcoin scaling solution that provides instant and final payment settlement with zero risk of chargeback fraud. OpenNode focuses solely on Bitcoin because it offers the highest level of security and regulatory compliance, whereas other cryptocurrencies remain speculative and non-secure.
Learn more at www.opennode.com
OpenNode is a leading Bitcoin payments infrastructure platform, servicing companies in 126 countries through our Bitcoin Lightning Network-powered products. We remove complexity and risk by providing superior technology solutions, including simple no-code, turn-key hosted checkouts, e-commerce plug-ins and APIs for customized integrations. Compatible with every Bitcoin wallet, OpenNode is transforming money and payments for every business, everywhere. Founded in 2017 and backed by influential global investors, OpenNode is on a mission to empower and connect the world with Bitcoin.
About Lemon Cash
Lemon (lemon.me) is one of the fastest-growing crypto startups in the world. Its main goal is to launch civilization into the future of money and the internet, with a special focus in Web 2 and Web 3 interoperability. Lemon’s main product is a wallet with both FIAT and Banking capabilities and Crypto & Web 3 features such as crypto interest accounts, trading and more. Founded in 2019 by entrepreneurs Marcelo Cavazzoli and Borja Martel Seward, the company has offices in Argentina and Brazil and is expanding across the region. During 2020, Lemon raised its 1M Seed round led by U.S. fund Draper University Ventures and Argentine Fund Draper Cygnus, also joined by the U.K.’s Silent Unicorn and Amagis Capital. Thanks to the received contributions, and after announcing an additional raise of $16.3 million in its Series A led by Kingsway Capital with co-participation of renowned investors such as Draper Associates and Coinbase Ventures, Lemon is currently one of the most promising and successful crypto companies in the region, and one of the few to have crossed the 1M user threshold in 2022.
Popular BTM Operator: Bitcoin of America Welcomes Shiba Inu Coin to Its Bitcoin ATMs
Bitcoin of America has officially announced the newest addition to their Bitcoin ATMs (BTMs). Shiba Inu coin is now available at Bitcoin of America ATM locations. Bitcoin of America has more than 1800 BTMs across 31 states. They recognized the growing popularity of Shiba Inu and decided it was time to include it in their BTMs. Bitcoin of America also offers Bitcoin, Litecoin, and Ethereum options. This news comes after their recent addition of Dogecoin in March of this year.
Bitcoin of America is a popular virtual currency exchange registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). They are known for their top-of-the-line customer support while also providing a fast and hassle-free transaction.
Bitcoin of America makes it easy for everyday businesses to get their hands on a Bitcoin ATM and for customers to buy Bitcoin. They take care of their host locations by providing passive income, increased foot traffic, and marketing. They even handle customer support and any maintenance/installation services.
The popular operator has made many updates to its BTMs and services over the past year. They launched their universal kiosks, which operate as a traditional ATM combined with BTM functions. Bitcoin of America has created a point-of-sale system for their tablet program, which has allowed businesses to accept cryptocurrency as a new form of payment. Bitcoin of America is constantly expanding and improving its services.
PHAETON RAISES USD 1.5 MILLION WITHIN 24-HOUR OF IEO LAUNCH
Phaeton, a blockchain-cantered service company that offers sustainable investment options, launched its IEO on September 18. Within 24-hours of the IEO, the project raised $1.5 million US dollars indicating a considerable demand in such a new blockchain technology service firm.
Phase 1 of Phaeton’s IEO is currently live on two Crypto Exchanges, namely P2PB2B and LAToken. Here, users can buy the native token PHAE that plays a critical role in the Phaeton ecosystem.
After Phaeton’s IEO campaign ends, PHAE Coins will be available for open market trading (buy & sell).
The second phase lists several other major exchanges, namely OKEx, FTX, Bitfinex, Gemini, and Kucoin. Team Phaeton are currently engaged and working with the latter exchanges.
Phaeton Technology has created a Positive Social Impact Platform that incubates, develops, and collaborates with new and established business enterprises that address social and environmental challenges in line with the United Nations Sustainable Development Goals. The project aims to resolve long-running social issues using blockchain technology and collaborate with all business levels, government agencies, not-for-profit organizations, impact investors, philanthropists, and technologists who want to make a social change. The sectors that Phaeton is looking at include:
- Affordable housing and community development
- Renewable energy and conservation
- Carbon credits and climate change
- Health and Wellness
- Education and social infrastructure
- Small business and microfinance
- Sustainable products and agriculture
- Supply Chain management
Phaton Ecosystem and Core Technologies
The Phaeton platform has an ecosystem offering users access to a decentralized global market. Its side chains allow independent dApps, facilitating customization, scalability, and a departure from high network fees providing multiple benefits for the users. In addition, the protocol has been designed to make it convenient, secure, and seamless for all stakeholders. Phaeton ecosystem comprises the following core technologies that power the platform and make it infinitely scalable and highly usable.
- Phaeton Blockchain: Phaeton Blockchain has created its decentralized ledger system with a 250kb block size (potential of one million transactions) and five-second creation time. Phaeton Blockchain is based upon the Delegated Proof of Stake plus Delegated Byzantine Fault Tolerance (DPoS+dBFT) consensus algorithm, significantly improving energy efficiency. Phaeton remains an independent blockchain that provides its native platform for enterprises to use, whether for monetary, transaction, data, or smart contracts. The ability for individuals to host a node is critical for the speed, infinite scalability, and security of Phaeton’s Blockchain.
- Phaeton Core: Phaeton Core is a single-sign-on platform with multi-factor authentication and biometric identity validation for smart contracts, KYC, and cosignatory transaction authorization. Phaeton Core was developed to address the lack of trust in the crypto-currency industry by authenticating all those interacting with the Phaeton Blockchain.
- Phaeton Smart Card: Resembling a typical debit/credit card, Phaeton Smart Card is a biometrically secure device serving multiple functions. It includes ID authentication, multi-currency banking, and hard-wallet storage for cryptocurrencies. As a result, it has considerable scope in retail banking and Industry 4.0 applications.
- Phaeton Coins: The Phaeton Coin transaction model is like the Ethereum ETH Coin, which is applied when any of its ERC- 20 tokens are used within its ecosystem, but in no way connected to the Ethereum or any other platform. Phaeton Coins are also used for staking and as a reward for each delegate hosting a Phaeton Blockchain node within Phaeton’s ecosystem. Phaeton has pre-mined 500 million coins with approximately 250 million Phaeton Coins in circulation and around 250 million Phaeton Coins in reserve.
- Phaeton Sidechains: The Phaeton Blockchain platform is built on the consensus of a dPoS model (delegate proof of stake). This Phaeton feature is unlike PoW (proof of work) models used by Ethereum and others. In addition, Phaeton’s Sidechain model is designed to allow an infinite number of projects or subsidiaries to create a sidechain on the Phaeton Blockchain. A Sidechain is a type of Blockchain that exists alongside its parent chain (Phaeton Blockchain). Thus, the Sidechain can be defined as the “child chain.”
Phaeton Blockchain empowers new Projects
New startups are created every minute, which is an excellent opportunity for Phaeton to tap into this ever-increasing market and make the Phaeton business model grow exponentially. Phaeton helps existing businesses incubate ideas and develop an ecosystem around current products, making the market tilt towards Phaeton incubated technology products. Phaeton also offers mentorship, guidance, and seed capital to entrepreneurs and takes an equity position, improving Phaeton’s holdings and increasing Phaeton coin value. By attracting startups with new ideas, there is the potential to find a “unicorn” idea that will disrupt the market.
New startups and projects will select Phaeton over other incubation projects because the ecosystem offers a range of infinitely scalable and secure solutions that ensure greater market exposure and user base.
New startups are attracted towards the following offering from the Phaeton,
- A network powered by interoperability to improve accessibility
- The opportunity of creating a public or isolated blockchain network
- A secured ( military grade) and infinitely scalable environment with the delegated proof of stake
- A truly decentralized governance model creating an unbiased network
- Faster hashing algorithm ( 1M+/tps) than popular alternatives like MD5, SHA-3, secure against length extension attacks, parallelizable on multi-core architecture.
The vision and realization of Phaeton Blockchain as a true market disrupter is through the leadership of Chai Shepherd.
As Co-Founder and Head of Technology, Chai is driven to ensure Phaeton Blockchain platform is robust and designed to adapt to technology changes now and into the future. Through his experience and leadership, Chai leads a highly talented and credentialed team of technology experts and developers to provide a future-ready Blockchain solution that combats the shortcomings of current Blockchain platforms, such as high/unaffordable costs, scalability and interoperability.
The first round of IEO is still running! Grab some PHAE now
To learn more about Phaeton, visit Phaeton.io.
Crypto Asset Rating Inc. Plans to Launch Its Digital Securities for Non-US Investors Under Regulation S
Crypto Asset Rating Inc. (CAR), a US-based Fintech Company, announced that it plans to launch digital token securities for non-US investors using the Tokenization Asset Platform. These digital securities will offer potential investors an exciting opportunity to invest in a FinTech Company, which is already revamping the financial market.
These securities will be launched under exemption Regulation S of the Securities Act of 1933, and will be backed by Class B Common Stock of the company. With Regulation S, only non-US investors will be able to invest in this offering and become part of a well-renowned Fintech company.
Crypto Asset Rating is represented by Benemerito Attorneys at Law for the security token offering. The company’s digital securities will be issued using the Tokenization Asset Platform and will have a 12 months lock-up period. KYC verification is mandatory for each investor that includes Document Verification, PEP, and Sanction’s verification to invest in the offering. The Tokenization Asset Platform has partnered with Acuant for the identity verification and Eversign for document e-sign.
Today Crypto Asset Rating Inc. is one of the prominent thought leaders in the Fintech market. With innovative and pioneering products, like the Crypto Asset Rating Platform (CARP) and the Tokenization Asset Platform (TAP), they have set the perfect example of reinvention of the financial system.
Crypto Asset Rating Inc. strongly believes in financial inclusion and therefore is launching its own digital securities and is paving a new way for non-US investors while giving them accessibility and affordability to a unique investment opportunity.
About Crypto Asset Rating Inc.
Crypto Asset Rating Inc. is driven to plug the gaps in the Fintech market and bridge the governance institutions with the existing and new thought leaders of the Fintech industry.
The company believes in solving the Fintech industry’s key challenges. Our Independent Structured Rating Platform comprehensively rates crypto assets for institutional and retail clients. The company developed a custom rating algorithm to conduct an exhaustive multi-layered evaluation, covering four distinct risk buckets—Business, Financial, Legal, and Technology.
Our product network includes one of the transcendent and innovative products in the crypto industry – Tokenization Asset Platform (TAP), a Software as a Service (SaaS) that offers the process of creating, issuing, managing, and converting an asset to digital securities. TAP does this by leveraging tokenization technology to fractionalize ownership of equities, bonds, shares, and commercial/residential real estate. Issuers and private investors have early liquidity options through the issuance and tradability of asset-backed digital securities on the Tokenization Asset Platform.
DIRHAM: A New AED Backed Fully Regulated Stablecoin With Smart Contract Support
The cryptocurrency market has turned into a perfect investment alternative for retail as well as institutional investors. It has grown to become a $2 trillion industry as mainstream adoption came knocking this bull season. The price volatility of these digital assets works in both ways as it helps people to make a good profit in a short period while on red days it can lead to significant losses as well. However, the most important aspect is the transfer of value where fluctuation in prices can make it complex to transfer it or lose some value during the exchange. This is where stablecoins come into play as it ensures a stable value against the market volatility, but the popular stablecoins such as USDT lack transparency and have often been marred into controversy. The value of USDT often falls below $1 and even rises above the pegged value during extreme market fluctuations.
In the cryptocurrency market, stablecoins serve as a buffer. Through them, the owners of large capital can enter the crypto market to turn a large amount of money into money inside the blockchain at once and trade on them or invest. This is where DAH dirham, a regulated stablecoin that combines the creditworthiness and price stability of the AED Dirham comes into play. DAH is tied to the rate of AED 1:1 and (approximate cost of $ = 0.27). Only minor fluctuations in the exchange rate that the cryptocurrency market can produce are allowed. DAH is built on top of the Ethereum network and uses ERC-20 protocols to ensure minimal exchange rate fluctuations.
The value of a digital asset is 20% secured by AED / USD and 80% secured by the issuance or burning of a token within the framework of the blockchain protocol. Full 100% provision of a digital asset by an external traditional real asset will be completed by the specified path.
What Separates DAH From Other Stablecoins?
The main regulator of the value of DAH is the control of the token issue. When the demand for stablecoin increases, there is an additional issuance to keep the price stable, there is a burning of tokens if the price exceeds the set limit. Also, the regulators of the value are the exchanges that determine the maximum fluctuation in the value. The basic information on the distribution of the token, as well as fixing the cost of DAH, is hardcoded in the smart contract of the token. The smart contract is verified and fully regulated.
DAH will act as the bridge to exchange between various reverse coins/tokens. This means that it will act as an interface that mediates transactions between blockchain users and will also implement an ecosystem that can be effectively used by various reverse coins. Dirham is now used as a reduced volatility clipboard. It has a wallet, an exchanger, as well as the Dirham Trade exchange (Dirham.trade), trading on which will be open after the ICO.
DAH and Habicoin Ecosystem
Being built on top of the Ethereum network allows DAH to function much more than just a traditional stablecoin. DAH act as the base for the Habicoin ecosystem. Habi is a separate decentralized privacy-focused mining token. Habi makes use of the HabiLanS Protocol (HLS). There are no identifiable or reused addresses in the HLS blockchain, which means that all such transactions look random from the outside. Data about such an operation is available exclusively to participants.
HLS blockchain will use a function called cut-through, which reduces the amount of data in the block by removing unnecessary information about transactions. HLS offers data compression, reducing the overall size of the blockchain network. Using this node can check the transaction history much faster, using fewer resources, which will also affect new nodes. This in turn reduces the cost of joining the network and running a node can ultimately lead to a more diversified and distributed community.
DIPAY (display.app) is a technology that collects and transmits payment information for online payments from customers to acquirers around the world. All this will make it possible to implement a large-scale project that has not yet been implemented by anyone. These four components will work in tandem to provide a single mechanism for Dirham.
DAH Token Distribution and Public Offerings
The first emission of DAH would release 11,000,000,000 tokens out of which 5% equivalent to 550000000 DAH would be allocated towards ICO. The initial coins supply are distributed as follows:
- 83 % – IPO initial public offering (IPO) for using “stablecoin” as a stable digital asset. (0x72edd6a805cb82c5f8f5c8954b301dc059f29e1b)
- 5 % – ICO to Republican investors and accredited investors for crowdfunding, receiving some remuneration and subsequent sale on trading platforms (no more than $148,500,000). (0xfee6c3ee37857ff3ae73cabba651acafcd7a67a0)
- 3 % – remuneration, grants, and other financing. (0x10a9e61757b6c5af88053ba42d97fb385879d993)
- 3 % – Dirham fund, for engineering development, building communities, and marketing activities. (0x476e0380bae4ace85c60db480341d5926e3a1d7a)
- 6 % – for creators, team, and development. (0xe0b737ebace42bef7385e8e66a75b6e1085fef47)
The token is currently listed on Coinsbit exchange with trading pairs: DAH / BTC, DAH / ETH, DAH / LTC, and Finexbox exchange: DAH / BTC, DAH / ETH.
The ICO is currently live and would go on until 19th June 2021, users can buy DAH at a 25% discount during the initial buying phase. After the end of the ICO phase, the firm would also organize a 100 day staking period where uses would earn a 0.8% reward on the total number of staked coins.
IPO session for Dirham token on P2PB2B exchange is open. Users can participate in purchases with a 9% bonus on market sales. The session duration is 14 days, the sale is available on Finexbox, Coinsbit, and P2PB2B after the end of the IPO session. Available pairs: DAH / BTC, DAH / ETH, DAH / LTC, DAH / DASH, DAH / USD.
To learn more about Dirham visit Dirham.app
Registration key: https://dirham.app/?ref=8FwYdc (registration only by key).
Twitter : https://twitter.com/dirhamtoken
Facebook : https://www.facebook.com/groups/738844056812189
Telegram : https://t.me/dirhamtoken
Website : https://dirham.app/
Bitcoin Association launches online education platform Bitcoin SV Academy
Bitcoin Association, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV blockchain, today announces the official launch of Bitcoin SV Academy – a dedicated online education platform for Bitcoin, offering academia-quality, university-style courses and learning materials. Developed by Bitcoin Association, Bitcoin SV Academy has been created to make learning about Bitcoin – the way creator Satoshi Nakamoto designed it – accessible, accurate and understandable. Courses are available in their entirety online and offered in three distinct streams:
Bitcoin Theory – covers the design of Bitcoin as a system as prescribed by Satoshi Nakamoto.
Bitcoin Development – provides vanguard information for application developers building with Bitcoin, including tools and techniques for leveraging the unique features of the network.
Bitcoin Infrastructure – looks at the underlying architecture of both the Bitcoin network and ledger, including how the network is constructed and scales.
Within each stream, courses are offered at introductory, intermediate and advanced levels, following a progressive structure designed to build on the concepts and knowledge introduced in the preceding course. At the conclusion of each course, participants will undertake an online assessment to test their understanding of the material, with certification available to those who pass.
The first course to launch, the introductory module of the Bitcoin Theory stream, is now available for enrolment at www.bitcoinsv.academy. Introductory level courses will be offered free of charge for the foreseeable future, part of Bitcoin Association’s commitment to making Bitcoin education available to as wide of an audience as possible.
Speaking on today’s announcement, Bitcoin Association Founding President Jimmy Nguyen, commented:
‘Education is a cornerstone of the work we do at Bitcoin Association, as we help businesses and individuals alike understand the Bitcoin system envisioned by Satoshi Nakamoto, and how Bitcoin SV is the only project implementing that Satoshi Vision. Bitcoin SV Academy will be a key component of that work moving forward, providing a platform to deliver a robust curriculum tailored to all levels of ability and knowledge, as we educate the world about just what’s possible with the power of the original Bitcoin protocol.’
Also commenting, Steve Shadders, Technical Director of the Bitcoin SV Infrastructure Team, said:
“The most important piece of infrastructure that Bitcoin can have is access and availability of education – not only does it broaden the pool of talent available to work and build with Bitcoin, but it also helps to spread awareness of what Bitcoin as an entire technology system can do and is truly capable of. The launch of Bitcoin SV Academy is a huge step forward in making meaningful change in this area – and having taken the first course myself, I can confirm that there really is something for everybody to learn in there.”
How One Crypto Player’s Winnings have Reached $275k at CryptoSlots in Two Years
Ever wonder if players really do get lucky from crypto casinos? Maybe not all, but we found one CryptoSlots casino player whose winnings have added up to a substantial $275k in wins in just two years of playing ($276,200 to be exact). David C is from California, and wisely started investing in Bitcoin in 2016 – in 2018 he decided to play at Bitcoin casinos with some of his savings, and the rest is history. Read our interview with him below.
Bonus code COINAD100 is valid for 100% match on deposits $25 – $500 until Dec 31st, 2020.
Do you have a strategy?
I only put in what I got out of crypto investing, I don’t play for hours on end – you have to be smart. I won a few thousand on the Jackpot game early on, got a huge win on Olympus High Limit version at one point. With bigger wins I like that I always set the money aside. Quit when you’re ahead.
But a lot of it as learning how the games work. I count the medium wins rather than hold out for bigger ones. And, at CryptoSlots, save up Jackpot Tokens and then play Jackpot Trigger for longer all in one go.
Have you always played online?
I’ve played slots online a lot before – only been to two actual casinos in my life to be honest with you. You have more control over what you’re doing when you’re online.
What do you like about playing with Bitcoin?
When playing at btc casinos, I don’t have to get my bank involved or wait for payments to come through – I know exactly where my money is at all times.
Last but not least, what do you spend your winnings on?
Well some of it goes back into playing, some I keep in crypto, some I spend. Last year we did a trip around Asia. We went jungle trekking in Malaysia, I got my diving certificate in Indonesia, stayed a few days in Singapore. It was out of this world, such a vacation. We were planning on heading to Norway this winter to see the Northern Lights but, unfortunately, that will have to wait thanks to this coronavirus.
When asked about his favorites among Cryptoslots’ Provably Fair casino games, David said he largely alternates between the slots to diversify his crypto bets. So we took a look at his top ten games over the last six months and analyzed his payback ratio on each:
Interestingly, the High Limit games seem at a glance to be most volatile – offering the lowest payback ratio (Vegas Vibes High Limit at 72.5%) and the highest (Blazing Wilds High Limit at 179.1%). His standard video slot play produced more reliable wins but less chance of huge paybacks (e.g. Coin Rush at 105.8% and Vegas Twin at 99%).
Of course, it all depends on how much is bet and for how long the game is played. David bet the least on both Jacks or Better and Pyramid Plunder High Limit – maybe his inclinations warned him that luck was lurking elsewhere, maybe he quit too soon and longer gameplay would have increased his payback ratio! A significant win can make the world of difference.
We always ask our players if they believe in luck, and just like David, most of them tell us it depends on the day. For now, it seems his strategies are literally paying off.
If you’re fan of bitcoin casino games, check out Cryptoslots and take advantage of the 100% match using bonus code OURBTCNOV now.
LH-Crypto – Margin Trading with Cryptocurrencies
In 2018, LH-Crypto has become one of the most successful projects in the crypto industry. The crypto community was particularly attracted to the hi-tech start-up’s ICO for its concept of the first-ever full-scale crypto broker. The idea worked out well, so two years later LH-Crypto continues amazing its investors and clients with the pace of its development and the high quality of its services.
LH-Crypto company was among the first to create a platform for investing cryptocurrencies, thus developing the whole industry. The experience that this professional team had accumulated helped them create a range of investment products for crypto owners which were a breakthrough for this trading subindustry.
LH-Crypto broker was the first one to give people an opportunity to trade crypto with leverage and invest it into the most conservative financial assets like stocks and precious metals.
LH-Crypto gives everyone access to trading
An important part of LH-Crypto services is that they are easy to access for traders of all levels and capacities. One can start trading with as little as 10 Euro on his or her deposit. Clients with over 10000 Euro on their accounts receive advanced conditions for trading and withdrawal.
More than that, the company maintains the main principle of the crypto market – anonymity. Whenever one opens an account in crypto, be it Bitcoin, Ethereum, Tether or other, it can be used with no special verification. This option, however, is not applied to the accounts denominated in Euro, for most of the payment systems are very strict about the rules for fiat currency transactions.
LH-Crypto provides high-quality operations thanks to the most cutting-edge trading platform. Clients’ orders are processed instantly, with no slippage and for the best market prices. The trading platform algorithms pick the best leverage level for each deposit, from 1:2 to 1:500 that helps eliminate unnecessary risks for every trading strategy.
Trading assets for everyone
The list of trading assets in LH-Crypto includes assets of both investing and speculative natures: cryptocurrency pairs, fiat currency pairs, mixed currency pairs, precious metals, commodities, stocks, indices – more than 240 listed assets.
Forex and crypto markets work round the clock, so it is possible to trade any time joining different trading sessions in different exchanges. Apart from that, iOS and Android-based mobile apps enable traders to follow the market and make orders wherever they are.
Automated deposit and withdrawal
Withdrawal from LH-Crypto account is just as easy as depositing funds. These procedures are performed both in the Client Area and in the trading terminal, so every operation can be made by just clicking several buttons.
Special offers and bonus programmes
Motivating offers are a crucial part of working with customers, so LH-Crypto regularly replenishes its clients’ accounts with trading bonuses and offers other trading privileges.
LH-Crypto takes special interest in enlarging its footprint, so the company readily partners with other projects and individuals both online and offline. The broker’s partnership programmes are famous for their high payouts, sparing requirements to the partners, and user-friendly support at all stages.
Digital commodities exchange Emirex introduces Bitcoin SV trading pairs
Emirex, the Dubai-based digital commodities exchange, today announces that it has officially introduced support for Bitcoin SV [BSV] on its platform. With immediate effect, BSV/USDT and BSV/EUR trading pairs are listed and available for use. Emirex will also introduce a BSV/AED trading pair at a later date, which will be the first direct BSV/AED pair available in the market.
Demand for Bitcoin SV continues to climb globally, as the utility of its massively scaling blockchain drives growth across its ecosystem of applications and services, in addition to functioning as a popular payments rail due to its fast transaction times and very low transaction fees (sending a Bitcoin SV payment costs only 1/100 of a U.S. cent).
While strategically based out of the Middle East, the Emirex platform is truly global, offering investors and traders alike an easy avenue to acquire and trade digital commodities – including Bitcoin SV – within a regulatory compliant environment. Customers can fund their accounts using Visa, Mastercard, and Maestro, in addition to EUR SEPA transfer. USD, EUR and AED options via SWIFT transfer will also be available soon.
Speaking on the introduction of Bitcoin SV, Emirex CEO Grigory Rybalchenko, commented:
“Our cooperation with new projects is of high importance for our business performance. Today, we welcome the engagement with Bitcoin SV. It is a great pleasure for us to list such a promising project and we are looking forward to a long-term cooperation. The Emirex team will provide high-quality service and constant support to the BSV community in order to provide a better trading experience.”
Welcoming today’s announcement, Jimmy Nguyen, Founding President of Bitcoin Association – the global industry organisation which works to advance business on the Bitcoin SV blockchain – said:
“As demand for Bitcoin SV grows around the globe, the introduction of new trading pairs on the Emirex exchange facilitates another fiat onramp for those active in our ecosystem to buy and sell BSV. Emirex has an exciting roadmap forward with expansion planned through the Middle East, Africa and Europe – a journey that we are delighted Bitcoin SV will be a part of.”
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