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The Raven’s Dispatch – July 31, 2018 – Winklevoss Bitcoin ETF Petition Rejected by SEC

Winklevoss Bitcoin ETF Petition Rejected by SEC – Crypto world curses the suits

You might be asking, “What’s all this ‘ETF’ business about and why is it so important”? Well you’re in luck because we posted a full article last week on how ‘Bitcoin ETF Approval Could Be Huge For Crypto‘.Tl;DR Exchange Traded Funds could be a HUGE deal for Bitcoin and cryptocurrency in general if and when they get approved.

But what is an ETF, exactly? Well an ETF is defined as a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. This means that the fund can be traded like a common stock and the ETF also experiences price changes throughout the day as they are bought and sold. Nifty, and a great investment vehicle for the masses. Unfortunately the door was slammed shut by some dudes wearing suits at the SEC. On to The Dispatch!

The overall cryptocurrency market had steady decline in the past week moving from $292bln to $286bln representing a 2% decline since the last Dispatch. As you can see below, the pretenders suffered most from BTCs decline.

Livecoinwatch.com

Bitcoin (BTC): BTC had a chaotic week shaking out the weak and timid (hahaha thats me) surging to $8k then dropping to $7,800 before finally settling on $8,000.  Week to week that represents a near 0% change. Never a dull week in the crypto world, huh fam?

Ethereum (ETH): Was holding on until today when it suffered a daily drop of 5% adding to it’s weekly loss of 7%.  ETH has struggled to return to the $500 mark over the past month, and we don’t expect that to change all too soon. ETH is currently sitting at $436 as of this post.

OMISEGo (OMG): OMG is the token attributed to the OmiseGO platform, an offshoot of the well-established Omise e-commerce payment company based in Thailand.

Omise is kind of like the PayPal of SE Asia. The company acts as a payment gateway allowing people to transfer money to third party bank accounts, and the underlying service is simply value exchange. That’s a lot of features including a decentralized exchange, a white label SDK (software developer kit for making apps), and a clearinghouse technology product..to name a few.  It’s a promising project with strong fundamentals.

As you can see in the graph below OMG had it’s parabolic phase at the start of 2018 but has slowly retraced to December 2017 support. OMG reached an ATH of $24.71 in January and is now finding support at $6.81.  That’s a 75% retrace! Hope you didn’t buy the top.

If you want to know more about OmiseGo check out our guide!

WHAT’S NEW AT CRYPTO IS COMING

SEC Commissioner protests SEC’s rejection of Winklevoss Bitcoin ETF – The Winklevoss Bitcoin ETF was rejected….again.

Lightning Network: How far away is it? – We’ve talked about the Lightning network before, but now we are seeing significant progress into the second layer scaling solution made by Lightning Labs  that we had to revisit it.

Lisk Invests $1 Million in Lisk-Focused Blockchain Incubator – In an effort led by Lisk’s community members, the first-ever Lisk-based blockchain incubator, Elite Center, was announced in China earlier this month.

The Ox Ecosystem Visualized – The 0x protocol is a favorite DApp for many cryptocurrency enthusiasts. Decentralized exchanges have the potential to fundamentally change how people interact with market places and drastically minimize counter-party risk. the 0x protocol is being used for much more than decentralized exchanges (DEXs) and has the potential to impact a wide variety of industries.

Millennials will love Cryptocurrencies – Really interesting presentation from Fundstrat on the economics of Cryptocurrencies. Millennials will lead the way. Millennials constitute people that are born between 1981 and 2000. That’s 96 million people, the largest generation in history, dwarfing baby boomers (80 million) and GenX (65.8 million).

Cryptocurrency App Checklist for 2018: Take your Game to the Next Level – In this cryptocurrency app roundup, we take you on a journey through the information platforms keeping traders, enthusiasts, developers, speculators and casual observers alike clued into the world of virtual currencies.

Exclusive: IOST Opens Up About Its Recently Launched Referral Program – A week ago IOST launched what’s been called ‘the largest referral program in the history of cryptocurrencies.’ Some Reddit users have claimed the company is making a play for increased market share and visibility, in a similar manner to what Tron did not so long ago.

Ernst and Young Acquires Crypto Asset Accounting Tool – Ernst & Young has recently acquired a number of technological assets and their respective patents from Elevated Consciousness Inc., a startup actively working on developing new solutions for the crypto asset industry.

Institutions Are Coming! But What Does It Mean? – Institutional money coming to crypto has become almost a kind of prayer, touted by Twitter influencers and news outlets alike. Make no mistake – all the signs point to a major influx of institutional investment in the crypto space, with CBOE applying for ETF approval and Goldman Sachs greenlighting Bitcoin futures.

Top DAPPs by users and volume – One of the major innovations that blockchain technology has brought to the table, besides the public ledger and cryptocurrency, is the creation of Decentralized Applications (DAPPs).

You Can Now Become a Citizen of Antigua and Barbuda Using Cryptocurrencies – The Caribbean Islands have taken another step to embrace cryptocurrencies. The government now accepts cryptocurrency payments for its citizenship program.

Beginner’s Guide to Robinhood App – Today we gonna look at this app in detail to know what the noise is all about

Cops Arrest Hacker for stealing $5 million worth of Crypto! – A few weeks ago California police arrested a 20 year old college student for stealing over $5 million worth of cryptocurrencies.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Coinbase announces a new deal to let you pay for your Uber with crypto – Coinbase has today revealed a new partnership that will allow you to pay for physical goods and services from your favourite retailers with cryptocurrencies.

Canadian Bitcoin ATM Company Hits $2M in Daily Volume – Vancouver-based Bitcoin ATM software provider Netcoins has today announced its daily transactional revenue across Canada, Europe and Australia has reached $2M USD (approximately $2.6M CAD) in a single day.

Binance Will Face Tough Competition in South Korea in New Market Expansion – Binance, the world’s largest cryptocurrency exchange, is planning an expansion into South Korea, the third biggest cryptocurrency market behind Japan and the US.

Ethereum Founder Vitalik Buterin: There Is Too Much Emphasis on Bitcoin ETFs – What does Vitalik know about Finance? Pfff.

BITCOIN WILL REPLACE GOLD AND SOAR IN PRICE TO $700,000, SAYS MAJOR INVESTOR – All caps babay, for emphasis. Bitcoin is better than gold “on every front” and could eventually be worth around $700,000, according to an institutional investor. says John Pfeffer. Preach John, PREACH!

Crowd Psychology Driving BTC Prices, Finance Experts Say – According to a survey conducted among finance professionals, ‘crowd psychology’ is the main factor determining the movements of bitcoin market prices.

AMD Sees Q2 Drop in GPU Sales to Crypto Miners – Chip maker Advanced Micro Devices (AMD) said Wednesday that sales of graphics cards (GPUs) to cryptocurrency miners fell during the second quarter.

Telegram Reveals Personal ID Verification Tool for Sharing Data with ‘Finance, ICOs’ – The crypto and blockchain industry’s go-to encrypted messenger app Telegram has released a personal identification authorization tool, according to an official statement published July 26.

New Gallup Poll Shows Only 2% Of US Investors Own Bitcoin, But 26% Are “Intrigued” – The results of a Wells Fargo/Gallup poll published July 27 finds that only two percent of U.S. investors own Bitcoin, but 26 percent are intrigued by it.

Google bans cryptocurrency mining apps from the Play Store – Google has updated its Play Store developer policies to ban several more categories of apps, including cryptocurrency mining ones and apps with disruptive ads, as reported by Android Police.

Coinbase now offering cryptocurrency gift cards for easier real-world spending – Major bitcoin exchange Coinbase launched a feature yesterday that lets its European customers buy virtual gift cards with cryptocurrency.

Thank you for joining us for this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com

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Robinhood App Review

The Robinhood App Reviewed

It seems as though everything is done electronically these days, with that automated way of life acting as a catalyst behind the burgeoning success of the new and improved way to process investment and trading options and transactions. By now, despite the app store being full of duds, I am certain that you have heard about the diamond that comes in the form of the Robin Hood App. A fully automated, easy to use, and innovative investment app.

So who are they? 

Robin Hood was designed from the ground up for future generations of newcomers, as well as experts in the game of investments and aims to empower those that are utilizing the platform, by delivering simplicity, security, and accuracy of information to their clients. In addition, Robinhood is a 100% free trading and investment space, stating that they believe that the financial system should work for the ‘rest of us’, not just the wealthy.

By eliminating the excess brokerage costs, such as manual account management and numerous amounts of on-site, walk-in locations, the Robin Hood App is able to offer their users/clients zero commission trading opportunities in a quick and simple manner. That, however, is not all that makes the app a massive and overwhelming success.

How Does the Platform Work?

Luckily for us, the Robin Hood Platform is perfect for optimal user interaction and fairly easy to install and get started with. Regardless of if you are using an Apple or Android device, you will be able to head on into the app store and download the FREE app to your device. If you do happen to be in the United States, they also have a new desktop version that is available by following this link.

Upon development, the app goes through a series of questions that allows you to, not only develop a list of likes and dislikes for your viewable market watches, but also acts as part of the KYC process and acts to quickly verify your identity in order for you to be able to actively purchase, trade and sell your stocks. The KYC process is fairly simple and only takes around 24-48 hours to come back, allowing you full access to the overall platform fully. Currently, Robin Hood is also assigning their new users a single share of stock along with sign up. Keep in mind that you will not be able to choose the stock, but it’s free so that shouldn’t be a deal breaker. 

Linking your account

After you’ve completed the identification process, verified your email address and received a verification email, you will be able to access your account’s banking information. Keep in mind that D\due to the sensitivity of the information, you will be required to set up a password in order to full access and unlock the app. They’ve got  pretty nifty setup, with several options for connecting various banking accounts. For those of you who aren’t able to see your banking option, they also allow you to auto input additional information in order to connect an unlisted banking account.

Unfortunately, you will not be able to upload or withdraw funds by using a debit card at this time, however, additional banking features include, direct transfers between the Robin Hood app and your linked bank account, automatic deposits, stock transfers and more.

Your RobinHood Portfolio

Though you’re able to have a nit of design control in the look of your personal profile, the app does a great job of keeping this in order, by selectively placing your ‘favorite’ stocks towards the top, while a graph of potential movement is also available for your viewing purposes.

The interface is actually quite neat and the app updates you with any fluctuation going on within your stock holdings, however, that feature can get a bit out of hand if you’ve got a lot of money within the app, so you may want to update your notification settings at some point.

Cryptocurrency Availability Unlocked

While the original app was meant for general trading opportunities, the development and enhanced value of various cryptocurrencies has dared to break through and disrupt financial transactions across the nation, and now, those utilizing the platform will be able to access and safely trade their chosen cryptocurrencies.  Unfortunately, at this time, this option is only open to 17 states, as they work to attain the proper regulatory documents and complete the necessary processes required for the remaining of the states.

Below, you will find a complete list of tradable cryptocurrencies that are currently supported by Robin Hood, including, as stated above, the buying, selling, and distribution of continuous, real-time market data.

States Available Under this Feature:

Remember, the Robin Hood app is going to be hard at work, getting the regulations needed for the remaining States, however, if you are not in one of the 17 states listed below, don’t fret, just download the app and begin regular stock trades, as they work to deliver you this feature.

Tradable Coins:

At this juncture, the Robin Hood app is only offering buy, sale, and trade options for the below listed five cryptocurrencies.

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Litecoin (LTC)

Cryptocurrencies available for real-time market tracking:

You are able to follow the market in reference to the below mentioned coins, with possible adoption onto the platform in due time.

  • Bitcoin Gold (BTG)
  • Dash (DASH)
  • Ethereum Classic (ETC)
  • Lisk (LSK)
  • Monero (XMR)
  • NEO (NEO)
  • OmiseGO (OMG)
  • Qtum (QTUM)
  • Ripple (XRP)
  • Stellar (XLM)
  • Zcash (ZEC)

The reality of this advancement cannot be overstated, as Robinhood does intend on adding a few more currencies to buy/sell through the app, although they will not be confirming, at this point, which currencies they may be.  This comes on the heels of other similar applications finding success in the land of crypto-trading, while the Robinhood app manages to eliminate a bit of the hardships that users have experienced with similar platforms, including that of Coinbase, which acts as their primary competitor.

Having tested out both platforms myself, I would have to admit that even the initial appeal of Robin Hood is much better aesthetically, which is an automatic push towards one direction, but that isn’t all. Coinbase, while they have been working directly with cryptocurrency since their inception, has an onboarding and approval process that is lacking in ease and speed. Moreover, the comparison of banking options and services available sets Robin Hood ahead of the game.

The biggest two differences between the platforms might actually be the Market Tracking ability that is delivered by Robin Hood as well as the apps in-depth investment options that go far beyond being solely crypto focused. Unfortunately, Coinbase currently only allows for the market viewing of the coins that are currently on their roster, and it is not set up to offer other investment opportunities to their users, at this time.

All in all, I would have to give the Robin Hood App a 4.6/5 and that was hard for me to do, but the fact that you are not able to use a debit card to upload and/or withdraw funds does push their score down. Let’s hope that they will update that feature in the near future!

crypto is coming.

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Interested in other cool crypto posts….check out What happens when the last Bitcoin is mined?and The Price of Bitcoin vs Cost of Mining.

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Is Crypto going Mainstream?

Is Crypto going Mainstream?

crypto going mainstream

Let’s be honest – the last few months have been rough. Huge amounts of uncertainty and market fear amid and speculation regarding government regulation of cryptocurrency worldwide. The market took a dive, people panic sold their digital assets on cryptocurrency exchanges, prices plummeted further and it’s all been a bit of a mess.

But life goes on.

In fact, every time the crypto market has dipped, pulled back, corrected, burst, or “crashed”, it’s always come back stronger than ever before. Certain coins die off, sure, but with Bitcoin paving the way for most of the high cap coins, the projects with real promise and merit always just weather the storm and continue to rise in value.

Far from the dreaded crypto-apocalypse the mainstream media seems to be trying their hardest to propagate recently, cryptocurrency might be about to cross the fence and have crypto mainstream itself, forever casting aside doubts of its legitimacy.

What makes me say this?

 1 million people waiting to trade crypto on Robinhood

https://twitter.com/bprafulkumar/status/958037989124276225

That’s right. The app that brought the formerly inaccessible stock market to the masses by offering free trading is about to do the same for crypto, and that’s a big deal. Many potential users are turned off and intimidated by what they perceive as complicated, non-user friendly cryptocurrency exchanges.

Sure, if you’re an old hand at this by now it might seem easy, but be fair! Crypto as we know it is less than ten years old, and the accompanying technology is still truly in its infancy. We don’t even know if blockhain will end up being the underlying software for currencies of the future – these are the early, early days, and developers are still pioneering unreleased tech that may go on to revolutionize many aspects of modern life.

Users in the space surrounded by crypto news day in, day out are nevertheless bound to know a lot of people with only a vague awareness of the existence of crypto, to whom cryptocurrency and Bitcoin are one and the same (“and the fake money is stored, like… in the computer, right?”)

Not everyone is willing to carry out their due diligence and learn about the ins and outs of technology, and that’s ok. For the market to grow, casual mainstream users are needed as well – without investment from a wider audience, the market won’t grow, and the more people involved the better.

The app now has over 3 million users contributing a transaction volume of $100 billion. The app is mostly in service in the US only at the moment, but when it expands, which it plans to, that number is sure to grow to enormous levels.

Crypto Exchanges can barely keep up with the demand 

Even last year, cryptocurrency exchanges were freezing waiting lists and crashing under the weight of so many users. The market has grown since then, with no sign of stopping.

A Reddit user recently pointed out that stocks in the 1940s were viewed in much the same way as crypto is today, with 90% of the population saying they wouldn’t get involved due to them being “unfamiliar” and similar to “gambling”. Of course, it turned out that the suspicions and doubts that the stock market wouldn’t’ amount to anything were unfounded, and these days the stock market is now in the hundreds of trillions of dollars.

How big is crypto really going to get? Is it realistic to imagine the market staying at below 1 trillion forever? If you’re currently invested in cryptocurrency, you’re in on the ground floor of something that could be destined for true greatness. Just as the internet changed the world forever, so too will blockchain technology and the developments that arise from it.

We recently discussed the possibility of the value of Bitcoin rising to $1 million, and took a look at what would need to take place for the value to increase to that figure.

We make no predictions as to whether or not that will come to pass, but is it impossible? We don’t think so, and we’re not the only ones.

Square Inc’s Cash app launches Bitcoin trading

Square cash recently announced that they were offering Bitcoin trading to all users, and immediately saw a 4% increase in their stock market value. The company also has an interactive storybook available to explain what Bitcoin is to new users unfamiliar with blockchain tech.

This move coupled with the positive response from investors is a clear sign of the market demand for cryptocurrency adoption.

With the release and development of cryptocurrency debit cards allowing people to carry out instant transactions in person and online, and even withdraw fiat cash from ATMs, the wheels are set in motion for a huge shift in the way we manage and view money and transacting in general, and big companies like Square Inc. and Robinhood know it.

Your thoughts?

Don’t just take it from us. DYOR is a golden rule in cryptocurrency – always do your own research. We think the writing is on the wall for the low-key status of cryptocurrency, and mainstream adoption might be just around the corner – what about you?

We’d love to hear your opinions on whether crypto is going mainstream. Is it too complicated for true mainstream adoption? Will crypto remain a misunderstood phenomenon relegated to the tech-head underground?

Are we all just a little bit crazy?
Or will people start seeing crypto as a viable means to transfer money without any centralized authority making the rules?

Better make your mind up – I have a feeling we’re going to find out sooner rather than later.

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