Well, a part of the week where we go through the most important news from the crypto world has come. Before you move out to make the most of your weekend, take a break and read about the newest developments in the techno-system.
But enough with flattery. Let’s dig in and see what happened.
A Short Guide To Bitcoin Margin Trading
The first article on the list showcases a technique for trading crypto called margin trading. Margin trading is a process of borrowing some money to purchase BTC, and later sell it for a margin of profit. The article lists several strategies investors may use to reach a higher profit margin. However, this technique has a few drawbacks as well. In any case, it shouldn’t be something new investors are just going to start doing. It’s more suited for seasoned, professional investors.
Online Casinos Looking To Reduce Costs By Adopting Crypto
Another piece, fortifying the argument on how crypto is changing the online gambling industry. The nature of crypto, as a decentralized, digital currency makes it perfect for online gambling transactions. Since the online casinos make money from money transactions, it’s imperative to lower the costs and increase the profit margins that way. And currently, there are even more systems resolve the issue with crypto volatility. It’s possible that shortly a crypto casino will become a norm.
Hong Kong Introduces New Crypto Rules To Tame The Wild Market
Hong Kong decides to push new rules for cryptocurrency to regulate digital asset exchanges. This way, it becomes a part of a global initiative to improve supervision of the blooming crypto industry. To make it all happen, they introduced the sandbox, an area where the crypto exchange is possible under-regulated rules. Simply, the decision came as a result of a situation where they could either accept the crypto or repel it completely. However, the whole thing is still in its inception phase, and you can read all about it in this piece.
Tron Gambling dApp Paid Out Nearly $5Million
The CEO of Tron Foundation, Justin Sun, pointed out recently on social media that TronDice paid out nearly 200 million TRX tokes. At press time, they were worth more than over $4 million. The TronDice dApp was one of the first launched on the Tron blockchain. Essentially, it’s a game where the player selects a number between 2 and 100. Then, the game uses a smart contract to decide whether the player won or lost based on the odds. As this bitcoin betting game gained popularity, so did the volume of transactions in Tron wallets increased.
Founder Of Litecoin Charlie Lee On The Future Of Crypto
Laura Shin, the host of the Unconfirmed, spoke with the founder of Litecoin Charlie Lee about the future of crypto. Lee is one of the supporters of the idea that cryptocurrencies will revolutionize money. Today, he claims, the movement is still in infancy. However, over time more and more people will trade in crypto as a legitimate currency. Its real power is in its nature since it’s decentralized enough to be exempt from the rule of the government. Also, he believes that in the years to come cryptocurrency will become as usual as today’s fiat currencies.
Hackers Launch Affiliate Scheme Incentivizing Bitcoin Ransomware
Unfortunately, sometimes the world of crypto shows its dark brilliance. And the obvious product of such brilliance is hacking, especially Bitcoin ransomware. A group of hackers, originating from Russian dark web forums created a RaaS system(ransomware-as-a-service), which incentivized hacked users to join in on the fraud. However, it’s believed that not a single hacker is Russian. So far, they ransomed around a billion dollars. They used the Kraken Cryptor to execute the whole scheme.
New York And Berlin Grant First Bitcoin ATM Licenses
Bitcoin ATMs are one of the finest tools when it comes to promotion of Bitcoin. And, the Bitcoin ATM operator Coinsource announced its virtual currency license granted by the New York Department of Financial Services. On the other hand, a court ruling decided that Bitcoin and crypto aren’t under the jurisdiction of the Federal Financial Supervisory Authority. Thus, making Bitcoin ATMs completely legal to operate. With this, the future of Bitcoin and crypto, in general, seems much more promising.
ShapeShift CEO Claims That Bitcoin Is An Alternative For The Fiat Scam
And for the end of this weekly roundup, we have some food for the thought. The ShapeShift Ceo, Erik Voorhees, claims that Bitcoin is the real solution for the scam that is fiat money. An early Bitcoin adopter, Voorhees insists that the government too controls the governance of money provided by the state. Voorhees believe that the true freedom becomes available when we can move our assets without control of a third-party. As it is, he makes a point that Bitcoin is unstoppable. It’s a waiting game, waiting for the moment when Bitcoin overcomes the fiat currencies.
And that’s it for this weekly review. See you next week when we will dwell on the news from the world of Bitcoin, blockchain, and crypto.