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Bitcoin the New Reserve Asset of Wallstreet? This Week ...
Bitcoin News Weekly did an awesome interview podcast with Bitreserve Founder/CEO Halsey Minor. They're doing a lot to help solve Bitcoins volatility issue for businesses/consumers, as well as promoting transparency.
Check out the interview in full here: https://itunes.apple.com/us/podcast/bitcoin-news-weekly/id872971755?mt=2 Bitcoin News Weekly did an awesome interview podcast with Bitreserve FoundeCEO Halsey Minor. They're doing a lot to help solve Bitcoins volatility issue for businesses/consumers right from the start. It seems that Bitreserve is trying to extract the best parts of Bitcoins ethos (Transparency, freedom of exchange) and are building the core of their service around that. Seeing companies like that who are forward thinking enough to remain 100% accountable and transparent so you can view all their obligations to customers from a monetary sense is the perfect step for a company looking to grow in the Bitcoin community. Curious what others thoughts were
Bitreserve Users Can Now Peg Bitcoin to New Metals and Swiss Franc
Bitreserve has added three new precious metals, a sixth currency option and five new languages to its bitcoin finance platform. Having introduced gold last year, the site will now also allow its users to hold bitcoin pegged to silver, platinum or palladium. Bitreserve has also integrated the Swiss franc, saying that it is "a strong currency in its own right with […] from CoinDesk http://ift.tt/1Frw7ig via IFTTT
https://preview.redd.it/31n208r4i4y21.jpg?width=1024&format=pjpg&auto=webp&s=ddedc6a6f95c5699a5de15c28d7f46dada6968a0 French crypto hardware firm Ledger will provide its technology to Americanpayments startup Uphold to improve security, according to a press release shared with Cointelegraph on May 13. Formerly known) as Bitreserve, Uphold will reportedly incorporate Ledger’s institutional custody platform Ledger Vault to boost its anti-hack protection by adding an additional layer of security. J. P. Thieriot, co-founder and CEO of Uphold, said that Ledger Vault integration was mainly driven by customer demand for thorough security measures. According to the press release, the integration of Ledger’s tech will enable a number of key benefits for Uphold, including a multi-authorization governance model, support of new ERC-20stablecoins and other proxy assets such as the Universal Protocol-based tokens, among the others. Ledger Vault first rolled out in May 2018 as a digital asset security tool targeting institutional investors. The firm subsequently announced that it was expanding its business to New York in November 2018, also appointing a former Intercontinental Exchange (ICE) executive as head of global operations. Recently, Ledger announced that Canadian crypto exchange National Digital Asset Exchange (NDAX) would use Ledger Vault to secure its assets. Yesterday, major crypto exchange Binance announced that the platform was planning to fully resume deposits and withdrawals, following a major hack that resulted in the loss of $40 million worth of bitcoin (BTC).
So optimistic about bitcoin right now; bring on OB, Augur, Wall street money, scaling then the halving!
I have been in the game since late 2013 and that was the last time I felt as much buzz about bitcoin as I do now. From now until early next year I see; Open Bazar Augur Wall street money coming in (Gemini, ETF and other channels) Scaling advancements including a block size increase Bitreserve now Uphold getting mainstream traction et cetera When some of these give us a major price run up (which we might be in the early stage of right now) and make news the media reporting will not be mocking bitcoin, there will not be CNBC/bloomberg douchebags laughing and rolling their eyes at the idea that buying bitcoin might a good investment, a lot of average Joes will releases there is something real here. That will take us nicely to the lead up to the halving at which point major, widespread fear of missing out will set in and continue the buying run up sending us to the moon. The only 2 risk factors I see which could set this momentum back are adverse laws in major jurisdictions and no action on scalability and a block size increase.
[ACTUAL SHILLING] Let's see who's defending Uphold over in /r/bitcoin.
So there's this company, Uphold, which basically made up most of their balance sheet by introducing a 100% premined cryptocurrency, Voxel. They claim to operate as a full reserve, but the nature of their assets doesn't match the nature of their liabilities. If you remove all Voxel assets and obligations, there's a negative balance. Note that this is according to the balance sheet they publish themselves which is not audited in any way (they don't even publish their BTC addresses and provide signed messages). Just three days after it was on /buttcoin, /bitcoinnoticed it too. In that thread, several people defended Uphold. Let's have a look at them. There's bittyboyboo with this comment:
OP is a Redditor for 12 hours, but sounds like a long-time and serious Uphold hater. Wonder why? Uphold is an awesome service and I use it to move money from my UK bank account to my UH wallet to buy BTC. They are the cheapest and easiest way to buy and sell BTC that I've found. What's cheaper than free? What's faster than instant? There's enough legit Garza/Gox action in cryptoland without bad-mouthing the only company that publishes what they are doing in real-time. OP--you sound like the insolvent (and butthurt) scammer.
The user history shows just three other comments, one hating on Cryptsy, one recommending another service, airtm.io, and, one month ago, a recommendation of Uphold. Now you might say, okay, so this guy is just a satisfied customer who doesn't like to post a lot. So let's go over to bitgoldtruth with this comment:
OP is way off and sounds like he's a competitor spreading FUD. Uphold is centralized, so I don't use them, but they are legit and have become a very important part of the BTC ecosystem. I've looked a the Voxel (VOX) as a potential scam (because that's what I like to do)-- see my previous posting history about Paycoin, Bitgold, etc. Voxel is a pre-mine, but it does have a very specific real-world use-case-- the purchase of content on Voxelus.com. UH puts it all out there on their transparency page, which is the only reason OP could do this analysis. I applaud that transparency. TL;DR: Voxel not a scamcoin, Uphold is solvent and the only financial service in the world that I know of that is 100% transparent in real-time. Instead of bashing UH, why not demand that Circle and Coinbase and Bitstamp also implement real-time transparency. You might not like their management, but there is no denying that they benefit BTC by offering an excellent and innovative service. Again-- I don't like them and don't use them, but let's save cries of insolvency and scamcoin for the company's that deserve it. I've been guilty of this myself and now am much more careful. There's plenty of bad guys in this space, but UH is not one of them.
OP is full of BS. Uphold is demonstrably solvent if you know how to do math. The only reason OP can pretend to do the math is Uphold publishes a real-time accounting of their assets and liabilities. I'm a long-time UH supporter and investor and they just keep getting better and better. The market values innovation and UH is by far the most innovative company in the fintech/crypto space. And for the record-- I'm long voxels because it's a bet on the future of virtual reality, which I have little doubt will do to video what video did to radio. Uphold FTW!
Now if you go through their comment history, it's basically one big Uphold advertisement, and before that, one big Bitreserve advertisement (as you remember, the old name of Uphold). I won't go into detail here because it's really that obvious, but note that they're also plugging airtm.io (and again), just like our four-comment friend bittyboyboo did. Well then. I think we can close the case now, Uphold is just a great company with a lot of satisfied users who all love Uphold and will defend it by attacking anybody who posts something against them. There is absolutely no foul play going on here.
French crypto hardware firm Ledger will provide its technology to American payments startup Uphold to improve security, according to a press release shared with Cointelegraph on May 13. Formerly known as Bitreserve, Uphold will reportedly incorporate Ledger’s institutional custody platform Ledger Vault to boost its anti-hack protection by adding an additional layer of security. J. P. Thieriot, co-founder and CEO of Uphold, said that Ledger Vault integration was mainly driven by customer demand for thorough security measures. According to the press release, the integration of Ledger’s tech will enable a number of key benefits for Uphold, including a multi-authorization governance model, support of new ERC-20 stablecoins and other proxy assets such as the Universal Protocol-based tokens, among the others. Ledger Vault first rolled out in May 2018 as a digital asset security tool targeting institutional investors. The firm subsequently announced that it was expanding its business to New York in November 2018, also appointing a former Intercontinental Exchange (ICE) executive as head of global operations. Recently, Ledger announced that Canadian crypto exchange National Digital Asset Exchange (NDAX) would use Ledger Vault to secure its assets. Yesterday, major crypto exchange Binance announced that the platform was planning to fully resume deposits and withdrawals, following a major hack that resulted in the loss of $40 million worth of bitcoin (BTC). Trade Bitcoin and other cryptocurrencies with up to 100x leverage. Fast execution, low fees,available only on Bitseven https://preview.redd.it/gjxe4826x2y21.png?width=618&format=png&auto=webp&s=c145d5b4608fdba969669a6ef726428b62b52b2c
Former Nike exec is new CEO of Bitreserve -- In April, Fortune reported Anthony Watson had landed: Bitreserve, a cloud money service that uses bitcoin. And now, not quite three months into his time there, he has a new title: CEO.
Former Visa Exec to Join BitPay -- Former Visa anti-money laundering and anti-terrorist financing officer Tim Byun has announced that he will join Georgia-based bitcoin merchant processor BitPay as its chief compliance officer.
Xapo Adds Visa Founder and Former Citibank CEO to Advisory Board -- In a Xapo statement, Visa founder Dee Hock, former Treasury Secretary and President Emeritus of Harvard University Lawrence H. Summers and former Citibank CEO and Chairman John Reed, said they joined the company because of the potential of Bitcoin’s technology and currency to advance financial services.
Before I go into my story let me introduce myself. I work in the financial services sector, live in New York and am new to Bitcoin. Recently, I’ve decided to give a try and buy some bitcoins. Everyone talks bitcoin so I wanted to evaluate the future of the currency for myself. First, I googled the most popular ways to buy bitcoins. Decided to start with the exchange. After reading numerous stories about Mt. Gox, bitstamp and other exchanges decided to register with Coinbase for the reasons you all probably know. The basic registration process was straightforward and simple. However, in order to buy bitcoins you have to go through verification procedure. You need to link your bank account to Coinbase, provide your billing address and in case if you want to make buying bitcoins instant you also need to link your credit card. So you provide the same information you need to provide to any US bank to be able to buy bitcoins. There is no anonymity or privacy. It’s a myth. Then you buy bitcoins. You would expect instant transaction but instead you have to wait 4-5 days for the transaction to complete. So if I need to buy something with bitcoins the same day – I can’t. Moreover, the worst part is that while you are waiting for the transaction to complete the price of bitcoin fluctuates. In my case, it fell 15 USD which was more or less equal to 10% of the price of btc on the day of purchase. So btc lost 10% value against USD while I was waiting for the transaction to complete. In addition, you also have limits. You cannot buy more than 1000 USD worth of btc in one week. I thought this was totally ridiculous. What was the reason for going through all these verification steps if you are still facing limits? However, as I am new to btc decided to give another try. This time I registered with Coinbase Exchange. Again, you have to provide your SSN and link with coinbase account. When you register with the exchange Coinbase opens so-called “USD Wallet”. You can now transfer USD to this wallet and then instantly transfer them to btc or trade in the Exchange. However, the transfer again takes 4/5 days. I was totally disappointed by how the whole system works. I thought bitcoin users were treated like some kind of criminals. I wasn’t simply asked to verify my identity by providing all the usual KYC information, but I also faced buy/sell limits (1000 USD a week), 4/5 delays in transaction completion. Moreover, I had to provide all my bank details to Coinbase. I felt like I had no other choice as to trust Coinbase despite the fact that they disclose very little information about security measures they implement to store my personal information. Moreover, Coinbase was not different from any bank around the corner with its KYC procedures. Anyway, I thought it was too early to give up. Decided to try localbitcoins. Unfortunately, I experienced another disappointment. Bitcoins are sold in average with 6-7% premium. And you have to pay this premium every single time you buy btc. You also have limited options for buying btc: Moneygram/WU transfers, national bank transfers, paypal transfers and gift codes. From all these options the only instant and acceptable option was paypal. However, the seller of btc requested my photo holding some ID for verification process. Here you are not dealing with Coinbase, which is supported by NYSE, but with some ordinary guy who God knows how treats and secures the information you provide to him. I understand the reasons why he/she asks for the verification but still find it irresponsible to trust this person. I have no idea who he/she is and how he/she handles the information I provide (in case of buying using paypal). Of course you can also buy with cash. I tried that option as well. Buying with cash involves arranging a meeting with some stranger somewhere in your town. So you have to arrange the time and place to meet and both of you should agree on this. Then you have to carry cash with you, which is another risk. And of course you wont carry over 1000 USD especially if this is your first transaction with some stranger. Finally, again you have to pay around 10% premium. Then I found out about guys from LibertyX. I read some of their interviews and thought they were trustworthy. They claimed that one could buy their so-called Qpins in big stores nationwide and redeem them for btc. However, when I visited their website it turned out that I had some outdated information. In reality it’s possible to buy Qpins only from small stores in Manhattan and Brooklyn. They recommend calling the stores before visiting them. I followed their advice, but not a single store in Manhattan answered my call. So I decided to try my luck and go there without speaking to them on the phone. One store was out of business. Another one claimed that it didn’t sell bitcoins. In such case LibertyX recommends calling them, as they know how to handle such situations. So right from the store I called LibertyX. Guess what? All their operators (probably 1 or 2 people) were busy to answer my call. So decided to go to Brooklyn. And again one store was closed and the other store manager didn’t know what I was talking about. However, after 30 minutes of explanation the store manager finally figured out how to find in their system Qpins and sell them to me. Overall, the whole process took 1.5 hours. I came home, logged in to LibertyX website to redeem the pins and receive btc. They also collect personal information. I entered my real name and address. Their system gave an error message saying that it couldn’t verify the information I provided and asked me to send verification information (scan of ID). In order not to lose my money, I had to provide them the scan of my ID. Then I had to wait a day for my account to get verified. Please, note that they also have 1500 USD weekly limit. I am a stubborn guy and I hate banks enough to give another chance for bitcoin to prove itself as future currency and therefore I decided to try bitcoin ATMs instead of all methods described above. I visited coinatmradar.com to locate the nearest ATM. I found three ATMs in Manhattan and two in Brooklyn. Visited all of them and didn’t find any ATM in any of these locations. Finally, decided to try to register with the European exchange to compare with the US one. I couldn’t even register with them because Europeans avoid providing financial services to the US citizens. My attempt failed. The same happened when I tried to buy bitcoins through VirWox.com. So here are my conclusions.
Buying bitcoins is not anonymous.
Unless you use cold storage/offline solution you do not hold bitcoins but some institution like Coinbase does.
Buying bitcoins is not a straightforward process, is time consuming and requires risk acceptance.
Buying bitcoins is expensive. You will normally pay 10% premium when buying for cash or paypal. This premium equals to a dream annual return of most hedge funds (and their investors accordingly).
You have to verify your identity when buying btc through exchanges or companies like LibertyX. You go through the same procedure as when opening a bank account.
There isn’t any operating ATM in New York. This is due to “bitlicense” uncertainty. However, even if bitlicense is implemented not a single ATM would operate profitably under money transmitter licensing.
You face limits when buying bitcoins. Coinbase and Circle have 1000 USD weekly limits. LibertyX has 1500 USD limit. Localbitcoins doesn’t have limits but you cannot buy btc using debit/credit card. Moreover, when buying through localbitcoins you have to be aware of scammers.
The high cost of buying btc can potentially offset the benefits of low transaction costs. It might be cheaper to use your debit card.
Therefore I don’t see a single benefit of dealing with bitcoin instead of fiat (i.e. banks) in current environment. There is no “killer app” requiring you to go through all the above procedures to buy bitcoin. I think the only people who are willing to go through all this hell in order to buy btc are the ones who use them illegally in the dark market, some enthusiasts/revolutionists/anarchists who believe in the long run success of btc, hate banks and current financial system; and people who either trade btc or use it occasionally for some purchases online. I don’t see how mass adoption can happen if you cannot buy bitcoins with two-three clicks online. I don’t understand who would wait 4/5 days to get btc when the price fluctuates every 10 minutes. What I do now is I buy btc using Coinbase. Then I send them to bitreserve.org and hold them in different currencies. However, even if I want and need to buy btc instantly I simply cannot do this. If instant buying is possible then I have to pay high premium. I find it much cheaper to use my debit card and pay bank fees, which are nothing in comparison with the premium to buy btc. Please, prove me wrong or enlighten me. Maybe I am missing something.
Bitcoin News Bitreserve Changes Its Name to Uphold, Adds More Payment Options. Looking at the recent developments in bitcoin sector one can’t help but wonder whether bitcoin is losing its sheen. Trends in bitcoin options markets are making it difficult for financial analysts to pinpoint BTC’s next move. Data from CME’s recently published trader report shows that institutional ... Bitcoin startup Bitreserve now supports AUD, CAD, NZD, HKD, SGD, KES, ILS in order to cater to a wider audience. Bitcoin investors and the crypto community believe that this is clearly an unneeded encroachment of privacy. Matt Odell, an early Bitcoin adopter, commented : “The travel rule will require invasive information sharing between companies for transactions greater than $250. You are at: Home » News » Video » Bitcoin the New Reserve Asset of Wallstreet? This Week in Crypto – Oct 12, 2020. Bitcoin the New Reserve Asset of Wallstreet? This Week in Crypto – Oct 12, 2020 . By Steven Hay Last updated on October 12, 2020 at 00:18 No Comments. Financial services firm Square has purchased nearly $50 million in Bitcoin, claiming that the asset “aligns” with ...
BRC~BITRESERVE COIN -- CHANGE MONEY CHANGE THE WORLD.
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