The CEO of blockchain investment fund Pantera Capital Management has made the bullish claim that the cryptocurrency market could one day balloon to $40 trillion. Speaking during a panel interview on Bloomberg Television yesterday, Dan Morehead, the chief executive and founder of Pantera Capital, said that bitcoin ‘is a screaming buy right now.’ Last December, […]
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For Ripple, there’s no slowing down on its partnership spree. On April 26, 2018, the world’s third-largest cryptocurrency (by ) announced the addition of five new clients – from Europe and Asia – for its corporate payment solution, xVia.
Global Collaboration
According to a press release, the five companies – (U.K.), (U.K.), (U.K.), (Georgia), and (Malaysia) – would make use of Ripple’s xVia product for facilitating remittances and wire transfers.
Provided as an API extension, helps to reduce operational costs while increasing remittance speed; alongside delivering complete transactional transparency courtesy of Ripple’s private blockchain.
Ripple’s Vice President of Product Asheesh Birla, :
“By tapping our global network with xVia, our customers now access new markets quickly and cost efficiently. All of these customers run into the same problem: building bespoke connections to banks and networks all over the world.”
Further talking about the benefits, Birla adds that traditional banking is “expensive and time-consuming.” In contrast, xVia allows partner institutes to serve new demographics, as it utilizes the blockchain to process payments.
Echoing Birla’s thoughts was , Chief Commercial Officer at FairFX:
“It will also enable us to deliver on our commitment to give customers the most transparent, efficient and truly global money transfer experience possible using RippleNet.”
Simply put – If bank X and bank Y are not partners with each other, but they are partners with Ripple, the latter will facilitate a seamless exchange between the two banks, as they registered on a unified blockchain.
By maintaining a singular, standard connection on xVia, Ripple claims that its partners do not face the “high failure rates” commonly associated with traditional banking systems.
While it’s easy to mistake Ripple as a singular entity, there’s much more to the blockchain-based payments provider.
, the parent company of XRP, offers a range of products and services which do not explicitly make use of the XRP token. Apart from the xVia API, Ripple provides the , which sources “on-demand liquidity,” and the , which enables banks to process global payments.
Ripple Partnerships No Guarantee of XRP’s Success
Previously, BTCManager on XRP’s fallacy pertaining to their $29 million educational donation and widespread reports of their large number of banking partners. While the partnerships and contribution represent blockchain adoption and heartfelt philanthropy respectively, new investors can be misled into viewing the company’s token as socially responsible and a corporate-favorite.
However, according to their website, the XRP is provided as “optional access,” i.e., in addition to their core business services.
This goes to show to that while a rising number of partners indicates blockchain adoption, it doesn’t necessarily prove XRP usage; a point about which the company should perhaps be more transparent.
XRP’s Q1 2018 Performance
On April 25, 2018, Ripple tweeted about XRP’s impressive Q1 performance in 2018, which can be attributed to its wide clientele.
The 2018 Q1 Markets Report is here! We take a critical look at the digital asset and the ecosystem around it.
— Ripple (@Ripple)
The is said to “enhance the transparency of the Ripple,” and present all commercial details publicly.
Highlighting XRP’s rise, the report said:
“While the total market capitalization of all digital assets was the same on both November 24, 2017, and March 31, 2018, XRP’s share of that market capitalization doubled, rising from 3.56 percent to 7.57 percent.”
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bitcoin Cash promoters are hitting new lows everyday in their efforts to dethrone bitcoin and replace bitcoin by bitcoin Cash. Roger Ver promoting Bitxoxo, an unknown online bitcoin exchange while plauding their efforts to plan the launch of BCH marketplace, BCH e-university and BCH-POS terminal while promoting their ICO by calling them ‘Largest Indian Exchange.’
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Let’s Get the Facts Together
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Roger Ver is CEO of bitcoin.com, frequently uses the website for socially attacking bitcoin by leveraging the trust the valuable domain name offers. Attributing as BCH is fraud, since bitcoin.com is taking advantage of gullible users by confusing them to believe BCH is bitcoin whereas it is .
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Roger is thought to own @bitcoin account on Twitter, which is used exclusively to promote bitcoin Cash and criticize bitcoin. The account was recently , however was soon restored.
Even People at r/btc Don’t Seem to Approve
Reddit r/btc community, which is centralized around the idea of bitcoin Cash is also upset by Roger’s intentional misleading propaganda. The community has called out his association with their ICO as an advisor. This looks like a barter-shill deal in cryptosphere where Roger is promoting their ICO in exchange for them promoting BCH.
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Fiverr Twitter Spammers Were Hired
The shady part of the deal is not limited to misinformation, a Reddit user also points out the use of paid-twitter users/bots having a positive sentiment about the news, where all accounts roughly seem to have around 40 followers.
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On going one step further in our investigation, BTCManager finds out that those profiles belong to Fiverr service providers who .
Don’t Touch Bitcoinxoxo with a Ten Foot Pole
The most important factor when someone purchases bitcoin in India is trust and price. Bitcoinxoxo is not a trusted website in India, and their prices are much higher than prices offered by legitimate Indian cryptocurrency exchanges like and Koinex. At the time of writing, the buy-price for bitcoin on Koinex was Rs. 588,999 ($8,823), on ZebPay is Rs. 587,000 ($8,793) whereas the buy-price on Bitxoxo is Rs. 678,654 ($10,166). There is no plausible reason for anyone to purchase bitcoin in India through Bitcoinxoxo.
Moreover, it should not be forget that future of any crypto exchange in India is very uncertain as Indian banks have , following order by RBI. At this point of time, no informed investor will invest in any cryptocurrency exchange because of government stance.
RBI was for unconstitutional ban, we are still waiting for update on that.
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