April 25, 2019

Bitfi denies support to Bitcoin Cash [BCH] over ‘real Bitcoin’ drama |

The Bitcoin fork ecosystem has had a tumultuous past couple of weeks, complete with multiple BSV delistings and various proponents speaking against the cryptocurrency.

The latest development from Bitfi however, has taken the spotlight away from Bitcoin SV after the popular cryptocurrency wallet announced that it will not be supporting Bitcoin Cash [BCH] on its wallet ecosystem. The official release from the company claimed,

“Management believes that Bitcoin Cash (BCH), while having a sound and useful technology, is operating a PR and advertising campaign that is confusing, especially to newcomers to the digital asset market. As such, Bitfi believes, it is acutely damaging and toxic to the industry if investors are not sure what the real Bitcoin (BTC) is.”

The company also cited the drama and confusion surrounding Bitcoin Cash and Bitcoin as one of the primary reasons behind the decision. Bitfi further targeted the Roger Ver-led Bitcoin.com, commenting that the portal was spreading ‘demonstrably false’ information about Bitcoin Cash being Bitcoin. The cryptocurrency wallet company slammed Bitcoin.com for destabilizing the cryptocurrency ecosystem and claimed that the consequences are “far-reaching.”

Jihan Wu, Co-founder of Bitmain, was also in Bitfi’s line of fire after he was called out for trying to control the price of Bitcoin. Bitfi stated,

“In addition, at the end of 2017, Bitmain, a Chinese hardware mining manufacturer, engaged in aggressive selling of large quantities of Bitcoin (BTC) into the price using the capital to prop up the price of Bitcoin Cash (BCH) as revealed in documents that were disclosed for Bitmain’s IPO filing. According to Bitfi, this was likely done in the hopes of flipping the price of Bitcoin (BTC) and Bitcoin Cash (BCH) in order to take over the name Bitcoin, which would then be controlled by several powerful companies and individuals.”

Another concern raised by Bitfi pertained to users being manipulated by statements given by Bitcoin Cash proponents, with some even sending Bitcoin Cash to Bitcoin addresses. The organization assured users and fans of the cryptocurrency that once the BCH camp addresses the problems on-ground, BCH will be usable again on Bitfi.

The post Bitfi denies support to Bitcoin Cash [BCH] over ‘real Bitcoin’ drama appeared first on AMBCrypto.

Published at Fri, 26 Apr 2019 01:09:24 +0000

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November 26, 2017

CoinLoan Launches Lending Platform Using Crypto Assets

Fintech startup launches peer-to-peer lending platform facilitating cryptocurrency-backed loans.

Talinn, Estonia – CoinLoan, the Estonia-based fintech startup, today announced plans to launch a lending platform to create a new type of secured, peer-to-peer loans for crypto investors through its ICO.

Currently, if a crypto investor has a large holding in bitcoin and needs fiat currency, there is no option for them to borrow against these assets. CoinLoan plans to offer a solution to this issue in the near future.

[youtube https://www.youtube.com/watch?v=VIVZlpvplvw?feature=oembed&w=500&h=281]

CoinLoan’s founders, Alex Faliushin and Max Sapelov, started CoinLoan when they recognized that cryptocurrency could facilitate a completely new type of lending. CoinLoan is creating a system of secured peer-to-peer lending, where borrowers deposit crypto assets for a loan in their preferred currency. If the borrower doesn’t repay according to the agreed terms, CoinLoan can liquidate the pledged crypto asset and will return the remaining funds to the lender, including accrued interest. Lenders get a risk-free way of earning interest on their capital, and borrowers get to leverage their crypto assets without liquidating. A crypto investor is able to leverage their crypto-assets for a loan to allow them to retain a long position with their assets and at the same time, give them a range of options with future tax payments.

Billed as “lending secured by crypto assets”, CoinLoan allows members to leverage assets like bitcoin as collateral. This new platform, tethered to Ethereum ERC20 smart contracts, lets borrowers tap into capital on demand. CoinLoan’s major benefit is that it offers a mechanism to support the holdings of an investor, while it also greatly simplifies the loan process and leverages a lending market built on blockchain technology.

CoinLoan has also made great strides in putting together a compelling investment proposition for investors. “In the run-up to our ICO, we’ve added a number of seasoned blockchain specialists to our advisory team,” said Max Sapelov, CoinLoan’s co-founder. “We’ve totally reconfigured our token offering to make it a very compelling investment proposition.” After successfully raising $550,000 during its pre-ICO fundraising round, it plans to raise the remaining $56 million via its ICO on November, 26th, 14:00 UTC.

Learn more about CoinLoan at https://coinloan.io
Follow CoinLoan on Twitter – https://twitter.com/coin_loan
Join the CoinLoan’ Telegram group at – https://t.me/coinloan
Email – info@coinloan.io

Images courtesy of CoinLoan

The post CoinLoan Launches Lending Platform Using Crypto Assets appeared first on Bitcoinist.com.