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Could Coinbase Send Ripple to the Moon?

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This year is likely to be a little more stable for many cryptocurrencies which have enjoyed monumental growth during the last three months of 2017. Some, however, could continue upwards, boosted by partnerships, tech upgrades, and listing on more exchanges.

Ripple has already made huge moves in the past couple of weeks, pumped largely by news of greater acceptance by banks and credit card companies. At the time of writing, it has surpassed Ethereum by market capitalization and is the second largest cryptocurrency with $87 billion. XRP surged to an all-time high of $2.80 on December 30th and is still trading high at $2.25 today.

Coming to Coinbase

According to reports, Ripple could soon be joining Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on Coinbase. Acceptance and ease of access is everything in the crypto world. The easier it is to buy something, the more demand will increase, which, in turn, increases value. Coinbase makes it simple for non-technically minded people to invest in cryptocurrencies using fiat. A number of analysts have already speculated that one of the world’s largest exchanges, servicing 32 countries, will be adding Ripple shortly.

Ripple is the hot coin of the moment, and the likelihood of a Coinbase acceptance is high. Its blockchain is superior to Bitcoin’s in terms of speed and price, making it a better alternative to trade with. Transaction verification times for BTC are painfully slow, often taking several hours. In addition to that, the fees can be as high as $30 for Bitcoin. Compare that to just $0.0004 for XRP, and you have a good option for low cost, high-speed crypto transfers.

Coinbase’s Chief Executive Officer has already told CNBC that more altcoins will be added in 2018. The most compelling evidence for Ripple’s arrival on the exchange is a video on Twitter from a self-proclaimed crypto insider.

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Bitcoin as Good as Gold. Well, Actually Better

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If financial statistics are anything to go by, perhaps there should be a pot of bitcoins at the end of every rainbow as the cryptocurrency has outperformed gold for a second year running.

According to Forbes, the Bitcoin Investment Trust gained 1407.42%, while SPDR Gold Shares only increased by 11.93%. Yes, you read that right. However, both gold and Bitcoin grew more than the S&P 500 and 20-year US Treasury bonds. This is the second time in as many years that Bitcoin has pulled rank over both gold and Wall Street.

As with any investment, though, you cannot determine with complete accuracy if past behavior will guarantee the same results in the future. However, even though Bitcoin has been around for a short time compared to gold and fiat currencies, it already offers some important benefits.

All That Glitters Is Bitcoin?

Geoffrey Smith, who is a Finance Professor at the W.P. Carey School of Business at Arizona State University, gave some insight into a few of these advantages:

Bitcoin has many advantages over government currencies, not the least of which is that its supply is fixed. Thus, its purchasing power cannot be diminished by ‘currency printing’ by governments. See Venezuela and their inflation, for example. Anonymity is also an advantage. The blockchain technology also provides perfect record keeping, which eliminates mistakes and the opportunity for fraud and theft.

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Is the Centralized Ripple Database With the Biggest Pre-Mine Really a Bitcoin Competitor?

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The rise of ripple (XRP) over the past eight months has been interesting to many digital asset spectators and the network also has its fair share of controversy. At the moment XRPs are trading at an average of $2.20-2.40 per token and ripple’s total market valuation has captured $91Bn this week. Many skeptics are wondering what’s behind the recent XRP price spike and speculate a big correction could be imminent.

A Database of Validating Nodes Called Ripple Competes With the Blockchain Giants

Ripple (XRP) is making some serious headway this week as the protocol’s token value has grown exponentially over the past few months. The Ripple network and its parent company, Ripple Labs, considers itself an all-in-one remittance network and currency exchange. The protocol is called a real-time gross settlement system (RTGS) which acts as a distributed ledger between a network of nodes.

These nodes or validating servers do not offer an incentive like the Bitcoin network’s proof-of-work (PoW) as the network is managed by independently owned servers. This has led to accusations that Ripple’s network is extremely centralized because most validating servers are operated by banks, market makers, and Ripple Labs. Financial institutions that have been using Ripple include Earthpoint, Fidor Bank, Bank of America, and HSBC.

No Proof-of-Work Created the Largest Pre-Mine Ever

With no PoW and just a group of validating nodes, all 100 billion XRP tokens were created during the initial launch of the Ripple network. 38 billion of these XRPs are currently in circulation, while the founders of the database and the company took the remainder of the XRP holdings. Skeptics say one of the scariest aspects of ripple markets is the fact that Ripple Labs controls over 60 billion XRP which is more than half of what is currently in circulation.  

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Bitcoin Interest Fork Slated for End of January

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Bitcoin Forks

Bitcoin Interest is the recently announced fork of the Bitcoin network, including full replay protection. They’re planning on changing a few things, but keeping more of the protocol together. For those of you who don’t know, a fork is a split in the two networks. At the time of the fork, everyone who owns Bitcoins will have the same balance of BCI if they’re holding when the fork happens. The fork will form two separate networks, with their own coins, users, merchants, and miners.

There have been several since August, the first being Bitcoin Cash. Many followed that were questionable, such as Bitcoin Gold, Bitcoin Diamond, and some others that have gained absolutely no traction. Bitcoin Cash and Gold are the only two that have received support from the community.

Bitcoin Interest

The team behind Bitcoin interest have made a few key changes, but kept the core consensus rules intact. The BCI network will support Segregated Witness and keep the 1MB blocksize limit. On top of this, they’re changing the mining algorithm from SHA-256, the algorithm that all Bitcoin ASIC miners are built for, to another known as Equihash. Equihash does not currently have ASICs built for it, meaning that this new network can be mined using GPU consumer hardware. The average block creation time has been kept at ten minutes, and the 21-million-coin limit has been preserved.

The coolest part about this new fork is the ability to earn interest on your current Bitcoin Interest holdings. Once the network launches, you’ll be to “park” your coins and earn interest payments on it. As opposed to Bitcoin, Bitcoin Interest blocks will have two rewards. They’ll contain the standard miner reward along with a smaller reward that goes to a pool of investors who’ve parked their coins.

Interest Rates

This pool is known as the Interest Pool, and blocks at first will contain a 1.08 BCI reward that will be distributed amongst pool members. This reward will decrease as the block height increases. The interest rate that you’ll receive is proportional to the numbers of coins you have parked compared to the total number of coins in the pool. For example, if you park 100 BCI and the pool’s total is 1000BCI, you’ll receive 10% of the interest rewards.

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Everything You Ever Wanted to Know About Privacy Coins

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With over 50 privacy coins on the market, purveyors of anonymous transactions are spoilt for choice. This smorgasbord of privacy-centric coins can be a little overwhelming though. To help you pick the best of the bunch, here’s our rundown of the main contenders.

How Privacy Coins Work

Bitcoin transactions are semi-anonymous: every transaction on the blockchain is broadcast publicly and visible for all eternity, but the owner of each wallet is unknown. Tying addresses to real-world identities is now relatively easy for the powers-that-be, because everyone has to cash out somewhere, and that usually involves linking bitcoin addresses to bank accounts.

Most privacy coins still rely on a bitcoin-style public ledger, but use technology that obfuscates the path of the transaction. It might still be possible to determine that a certain amount of cryptocurrency was sent, but the path leading from sender to recipient has been concealed. The way in which various privacy coins go about this differs considerably.

Privacy Tech Algorithms

The three most common privacy algorithms are zk-Snarks, Coinjoin, and RingCT. The latter method is used in monero; Coinjoin features in dash and is also being trialed with bitcoin; and zk-Snarks are used by most of the Z coins including Zcash. Here’s how they work:

RingCT: Monero’s ring signatures allow the sender to hide their transaction among other outputs. In addition, RingCT makes it possible to hide the amount being sent. Coupled with a stealth receiving address, this makes for an extremely discreet way of sending funds. Transparency is optional with monero, which uses an “opaque” blockchain.

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Ripple Dethrones Ethereum, Now #2 Cryptocurrency Behind Bitcoin

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Ripple just became the world’s second most valuable cryptocurrency. This is a big deal. But why? Is Ripple a good investment? Will banks adopt it? Let’s find out.

Why Is Ripple Causing Waves?

While Bitcoin and the rest of the top 10 cryptocurrencies are well below their peak, Ripple is enjoying a meteoric rise and is trading at $ 2.22, up more than 49% from this time yesterday. In fact, it just unseated Ethereum as the #2 cryptocurrency in terms of market cap. So why is Ripple’s current so strong?

6 Reasons Why Ripple’s Tide is Rising

There are a number of factors that could be contributing to the sudden rise in Ripple’s price, but here are the six most likely reasons:

Ripple CEO Brad Garlinghouse’s appearance on CNBC to explain to a mainstream investment audience the advantages of Ripple over the current system. His example of outrageous cross-border ATM fees and the amount of time it takes to send money from New York to London resonated with a financially savvy audience. It also helps that Garlinghouse looks and sounds like a Wall Street insider. Most cryptocurrency transaction fees are high and burdensome, while Ripple’s are some of the lowest available. Ripple claims banks can save an average of $3.76 per payment using their network. If you’re going to use cryptocurrency for international payments, there isn’t a real competitor to Ripple. Ethereum and Bitcoin are the dialups of cryptocurrency. A transaction can sometimes take up to 30 – 40 minutes to clear with ETH and an hour or more with BTC, whereas it takes only seconds with Ripple’s XRP. Amid that aggravation, Ripple’s daily transaction volume has soared from 150,000 to more than 1,050,000 in the last few weeks. Asia’s role in the run-up cannot be understated. Last year Ripple partnered with SBI Holdings to launch SBI Ripple Asia which is a dedicated sales and engineering venture to serve countries like Japan, China, Korea and Taiwan. The Ripple Asia tests begin next quarter so I believe there is some built in anticipation. American Express’ adoption of Ripple is helping to legitimize the cryptocurrency because it will offer its millions of users’ instant block-chain based payments. Rumors that Coinbase will soon support Ripple may be adding to the runup. For perspective, look at what happened when Bitcoin Cash was added to the largest Crypto Platform.

 If you would have told me 3 months ago that Ripple would surpass Ethereum in market cap by the end of 2017, I would have had a long laugh at your expense. But clearly, the joke is on me.

But not everyone is convinced. Take this tweet from Ryan Selkis who claims he knows of no banks that are using it or plan to use it.

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Tech Investor Believes 2018 Could Be the Year That ‘Legitimizes’ Bitcoin

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Jeff Francis· December 29, 2017 · 8:00 pm

Legendary tech investor Roger McNamee believes that 2018 could be a decisive year for Bitcoin, allowing it to become fully legitimate in the eyes of the financial world.

While a number of financial analysts are bullish on Bitcoin, many others are still quite hesitant on the eventual fate of the cryptocurrency. Such doubters point to the crypto’s ongoing volatility and the number of major drops in value over the last year. However, tech investor Roger McNamee believes that the upcoming year could be a turning point for Bitcoin. In fact, he believes it’s quite possible that Bitcoin could become fully legitimate in the eyes of the business world.

2018 Could Make or Break Bitcoin

In an interview on CNBC, McNamee said that Bitcoin could be considered legit if is withstands a crash and sees enough gains in 2018. He elaborated by saying:

[Bitcoin is] still a very small market in the context of the larger financial world, but it has had a huge year. We’ve done it around a speculative mania. If a mania goes on long enough, it becomes self-fulfilling. Even after a crash, what follows is a legitimate industry.

McNamee goes on to say that the cryptocurrency needs to keep investors on their toes and has to stick around long enough to become accepted. He adds:

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The Greatest Bitcoin Memes of 2017

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2017 will go down as the year that everyone in bitcoin got rich, not on cryptocurrencies, but on the rich memes that were in such plentiful supply. If there was one upside to all the in-fighting, name-calling, and mud-slinging, it was the dank memes that were spawned. News.Bitcoin.com’s resident memologists have rounded up a few of their favorite bitcoin memes from 2017.

X on the Blockchain

Bananas, beer, and sex on the blockchain were just some of the questionable crypto projects devised this year. Quite why they needed a distributed ledger was never made clear, but by December we hit Peak Blockchain with non-crypto companies adding the word to their name just for keks – and for the instant bump in share price it guaranteed.

Satoshi’s Vision

Did Satoshi intend bitcoin to be used for microtransactions? Did he anticipate the inevitability of bigger blocks? And did he envisage centralized mining pools? The answers to those questions are easy – just ask the many experts on Satoshi’s vision.

 The Tether Money Printing Machine

Tether didn’t give us much proof that it holds any dollar reserves for all those tethers it keeps issuing, but it did give us some great memes.

 Bitcoin Terrorizing Altcoins

For large spells of 2017, altcoins cowered in terror as bitcoin battered them black and blue. Alt traders rattled off increasingly desperate tweets hashtagged #altsareback and #prayformybags but bitcoin, playing honey badger, was in no mood for mercy.

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DASH AT THE PRECIPICE AS NEM BUYERS PUSH FOR $1.1

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Interesting formation in the last 24HRs, NEM buyers might end up clearing last week’s highs at $1.1.

While at it, USD bulls might drive LTC prices even lower to $200 and $150 now that $250 was sliced though like butter.

LTC is not alone, look at DASH and check the triple bottoms…while sellers close below this significant level? Let’s wait and see.

NEM BUYERS EYE $1.1NEMUSD 4HR Chart for December 29, 2017

Now, from last week price action, NEM buyers took charge and as it was, a long bullish candlestick was formed.

However, if you zoom in and study the candlestick viz a viz other technical indicators like BB, then you notice that there was some sort of over-extension and we might as well take both trades especially when signals presents themselves like yesterday.

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Ripple Withstands Negative Regulation Impact

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Cryptocurrency owners all over the world felt the negative backlash of South Korea announcing new regulations that are to be handed down over the coming months. Government officials are targeting a ban on anonymous transactions and a likely shut down of (some) exchanges. While a tightening of the belt will benefit serious traders in the long-run, short-term investors quickly bailed on many big name tokens on Thursday.

Bitcoin (BTC) – The market dominator faced an absurd 11% early Thursday morning, but recovered to a net -4.57% movement by the end of the day. Ethereum (ETH) – Cryptocurrency’s second largest player continues to see heavy movement; recovering to a marginal 1.23% devaluation on Thursday. Bitcoin Cash (BCH) – One of the few coins to boast a positive differential through the tumultuous week leading up to Christmas, BCH suffered a 6.57% fall following the new regulations. Litecoin (LTC) – Litecoin has fallen from relevance over recent weeks, but still stands as one of the leading altcoins. LCH was among the largest effected with a net -5.06% change.

Ripple managed to outlast the negative trend and pushed to an all-time high yet again on Thursday with the stable price hanging just south of the $1.50 threshold. XRP is pushing roughly a 20% increase over the past week with an astronomical gain over its opening value at the beginning of 2017. The coin added to its list of substantial achievements earlier in December by passing Bitcoin Cash as the third largest cryptocurrency market. Pushing a cap of $57 Billion that holds $60B in its sights, Ripple’s low price per coin offers an optimistic future.

South Korea’s recent investment in Ripple appears to be a major reason for the coins stability during the uncertain 24-hour fallout. Multiple, prominent financial institutions in both Korea and Japan have asserted that they will roll out RippleNet early in 2018. The coin’s intended use of being a global transfer system on a larger level than retail comparisons offers a more promising future.

Recent improvements to previous all-time high valuations is more often tied to the Japanese adoption of Ripple. However, the stability of the token stems from expected utility in a multitude of Asian nations. Korean banks that began testing the transfer process noted decreased costs of nearly 30%, something that bodes well to practical use in a shorter time frame than larger tokens like Bitcoin, Ethereum, or Litecoin.

Owners looking to flip the token in the short-term may not see the seemingly guaranteed rise in value of the past few weeks. Early struggles with RippleNet could come at a cost, making the next few days an optimal selling point for anyone looking to get away with a profit. The long position will need to outlast the first quarter of 2018 at a minimum as the deployment of the technology at a greater standard will require time for stabilization.

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