CoinTelegraph spoke with Ram Budime, the Business Development Manager of Gok!llo, a new bitcoin-powered crowfunding platform, on their innovative approach to crowndfunding, why volatility isn’t a concern, and why platforms such as Kickstarter and Indiegogo aren’t suitable for modern crowdfunding. Gok!llo is a crowdfunding platform that uses bitcoin as a cheaper alternative to traditional payment methods increasing security and reducing costs for project originators. It is incorporated on the Isle of Man and will file for its equity crowdfunding license soon. The platform is expected to go live on September 1. CoinTelegraph Why did you decide to launch Gok!llo and what problem does it solve? Ram Budime: Gok!llo’s mission is to provide the Internet community with an effective, reliable, intelligent web platform that lets people or organizations publish their projects and get funded by other people who are willing to support them Gok!llo uses bitcoin as a cheap alternative to traditional payment methods to increase security and reduce fees charged to project originators – collected funds are immune to bitcoin’s volatility since they are converted to the currency of the project and held in a bank account until the fundraising period is over, when funds are then converted back to bitcoin and sent to target recipients. “Traditional funding models like AoN (All or Nothing) or KiA (Keep it All) used by most of the platforms are no longer suitable for modern crowdfunding.” Since pledges are cashed-in immediately and funds held in a bank account, there is no risk of insolvency on the part of the backers and thus Gok!llo can guarantee pledges will be paid when a project reaches its funding target – this would not be possible if pledges were collected by credit card because credit cards were charged only when the fundraising period was over and nobody can guaranteeOriginally appeared at: http://cointelegraph.com/news/115200/gokllo-kickstarter-indiegogo-no-longer-suitable-for-modern-crowdfunding
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At the end of last week, we reported that we had seen quite a lot of volatility in the bitcoin price, and that – as a result – we were switching our strategy from an intra-range to a breakout. Over the weekend, we’ve seen more of this volatility, and as such our strategy going into today’s session is unchanged. With this said, the parameters that we are looking at are slightly different from those which we were keeping an eye on on Friday. So, moving forward, what are the levels that we are watching during today’s session, and where can we look to get in and out markets according to our intraday strategy? Take a quick look at the chart. As you see, as part of the weekend’s volatility, there has been an overarching decline in the bitcoin price. Whether this decline will continue today remains to be seen, but as far as short-term action is concerned, the levels we are watching are 224.39 as in term support and 229.49 as in term resistance. This five dollar range gives us today’s parameters. We will initially look for a break below 224.39 to validate a medium-term bearish entry towards 220 as an downside target. On this trade, a stop loss somewhere around 225.5 will help us to maintain a positive risk reward profile. Looking the other way, if we can break above in term resistance at 229.49, it will signal entry and put us in long towards 232.75 as short-term upside target. Once again a stop loss is necessary on this one, so somewhere around 228 should do the trick. Charts courtesy of Trading View Originally appeared at: http://www.newsbtc.com/2015/08/31/bitcoin-price-volatile-opportunity-today/
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Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin is trading mostly flat today. We opened at $224.84 on BTC-E, then rallied to a high of $228.12. But the gains didn’t last and soon BTC/USD was trading back down to the opening price. Bitcoin eventually closed the session at $224.11, just 73 cents weaker on the day. As can be seen on the chart above, BTC has been trading flat for the past five days. Ever since the bitcoin retracement stopped at the $230 mark, prices have been subdued. The total daily range since August 26th is only $14 dollars, or just north of 6 percent. The highs and lows of this congestion area stand at $216 and $230 dollars per coin. The outlook is no different at the other exchanges, with prices stuck and wiaitng for the next move. On OKCoin one bitcoin is selling for $227.26, while on rival exchanges Coinbase and BitStamp we’re seeing quotes for $228.15 and $227.91 respectively. For the levels we’re watching, take a look at our previous article HERE. Barclays Bank is set to become the first big financial institution to implement bitcoin payments. In a test move, the Bank will allow customers to donate bitcoins to charities. The institution is participating in several labs as well as bitcoin start-ups to test the possible applications for bitcoin and the blockchain technology. While banks have been reluctant to embrace bitcoin due to its checkered past, we’ve seen several major financial institutions like Barclays and UBS experiment with the blockchain technology that underpins its network. To implement the project, Barclays has gone into a partnership with a bitcoin exchange and plans to start the test by the end ofOriginally appeared at: http://www.forexnews.com/blog/2015/08/31/bitcoin-donations-at-barclays-as-prices-stay-flat/
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If you’ve been following tech news, then you’ve surely heard about the Ashley Madison leaks. Hackers – somehow, someway – secured access to the identifying information of an estimated 37 million Ashley Madison users, and now they’ve released that information to the world. Ashley Madison is an online dating website specifically for people looking to have an […]
With every passing week that money markets rates remain pinned to the zero bound by the Fed—–the magnitude of the financial catastrophe hurtling toward main street America intensifies. That’s because 80 months—– and counting—–of zero interest rates are fueling the most stupendous gambling spree that Wall Street has ever witnessed or even imagined. Sooner or later, therefore, this mother of all financial bubbles will splatter, bringing untold harm to millions of households which have been lured back into the casino. Then truth is, zero cost in the money market is irrelevant to main street. As we have repeatedly demonstrated the household sector is stranded at “peak debt” and, consequently, there is no interest rate low enough to elicit a pre-crisis style spree of consumer borrowing and spending. Based on the clueless jawing that occurred this weekend at Jackson Hole, the following simple chart that I laid out last week bears repeating: On the eve of the financial crisis in Q1 2008, total household debt outstanding—including mortgages, credit cards, auto loans, student loans and the rest——– was $13.957 trillion. That compare to $13.568 trillion outstanding at the end of Q1 2015. That’s right. After 80 months of ZIRP and an unprecedented incentive to borrow and spend, households have actually liquidated nearly $400 billion or 3% of their pre-crisis debt. Likewise, zero money market rates are irrelevant to legitimate business finance. That’s because no sane executive would finance the life blood of his enterprise—–the working stock of raw, intermediate and finished goods——in the overnight money market; and self-evidently free overnight money is beside the point when it comes to funding long-term, illiquid but productive assets such as plant, equipment and software. In fact, the only impact that free money market funding has on corporate America is round-about and perverse. To wit, it flushes money managers into a desperate quest for yield and provides stock speculators with endless opportunities to loadOriginally appeared at: http://davidstockmanscontracorner.com/stanley-fischer-speaks-airballs-from-a-dangerous-academic-fool/
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Looks like Jeff Garzik’s block size scaling solution is getting massive support from various stakeholders in the Bitcoin industry as not just BTCChina has declared its support to it but also mining firm 21 Inc. and transaction processor KNCMiner too have come up in the support. This has also put the block size debate to interesting mode as everyone is looking for support. Nonetheless, it has come to notice that mining firm 21 Inc, which accounts for over 7% of the current Bitcoin hashrate says that it is supporting BIP 100. With the support coming from 21 Inc., Garzik’s proposal now has 58.6% of the network’s hashing power behind it which is going to determine a lot of thing in the run to the block size debate. Additionally, one of the leading transaction processors, KNCMiner has come in the support of the idea presented by Jeff Garzik. Now, the company claims that it is tagging its blocks in support of BIP 100. However, the company informs that it would support both BIP 100 or BIP 101 as they would “propel Bitcoin for all”. BTCChina Backing Jeff Garzik’s Block Size Scaling Solution Though the support has come from KNCMiner and 21 Inc. it was BTCChina which came first to public to support Jeff Garzik’s block size scaling solution. It gave BIP 100 a majority of the network’s hashing power. Nonetheless, with the addition of the Chinese Bitcoin firm, the proposal now has support from the top three ‘blockmakers.’ Interestingly, the three blockmakers account for over 50% of the network’s hashrate. Even Bobby Lee of BTCChina admits that the company’s structure gave it the ability that few others have and added that they are in the unique position of seeing this from several sides, a mining pool, a wallet service, and an exchange. Therefore, according to himOriginally appeared at: http://www.forexminute.com/bitcoin/btcchina-kncminer-21-inc-supporting-jeff-garziks-block-size-scaling-solution-bip-100-62402
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British financial services company Barclays Bank PLC is jumping on the Bitcoin bandwagon with news that it will start facilitating Bitcoin payments. According to The Sunday Times (paywall) Barclays has a announced that it will start supporting the use of Bitcoin for payments to charities as an alternative way for those non-profits to raise funds. The report wasn’t entirely clear on exactly how the support for Bitcoin would be handled but noted that the bank had entered into partnership with a ‘Bitcoin exchange, or spending platform,’ and aims to begin the experiment by the end of 2015; potentially this suggests that the partnered Bitcoin exchange would accept the Bitcoin payments then convert them to fiat currency for payment into a Barclays bank account. A quote from Barclays’ Chief Design and Digital Officer Derek White simply states “Barclays is enabling the Bitcoin exchange to help charities accept bitcoin.” The Daily Mail reported separately that Barclays has around 75 staff looking into Bitcoin and the Blockchain at offices in Notting Hill and Old Street, close to the City of London, and that the company also uses a refurbished warehouse in Whitechapel, East London, to host get-togethers between Bitcoin enthusiasts. The company had previously revealed it is pursuing a proof of concept with European exchange and services provider Safello, and in March had accepted three Bitcoin firms into its FinTech accelerator program. Bitcoin to the mainstream Bitcoin may often be pitched as an alternative to existing fiat money based financial institutions, a distributed, non-centrally controlled cryptocurrency that rages against the machine, and yet the move by Barclays to start accepting Bitcoin payments, even in this small way, should be welcomed. The Bitcoin Blockchain is already be explored and tested by financial institutions worldwide due toOriginally appeared at: http://siliconangle.com/blog/2015/08/30/uk-bank-barclays-to-start-accepting-bitcoin-payments-to-charities-by-the-end-of-the-year/
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Barclays has recently announced that it will start accepting the controversial digital currency, bitcoin, later this year, as reported by The Sunday Times. The UK-based multinational financial services firm stated that bitcoin has the “potential to change financial services” and has entered into partnership with an unnamed bitcoin exchange and intends to start the experiment by the end of the year. It has already been conducting experiments into the digital currency in London-based labs and working with start-ups. Now it plans to test the cryptocurrency to allow people to donate to charities in bitcoin. Derek White, chief design and digital officer at Barclays, told The Sunday Times, “Barclays is enabling the bitcoin exchange to help charities accept bitcoin.” The report further pointed out that Barclays is not the only bank that is taking its first step towards bitcoin and added that UBS is studying the “blockchain” or database, which records all bitcoin transactions. Originally appeared at: http://www.econotimes.com/Barclays-to-start-accepting-bitcoin-82378
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The hidden uncertainty of Ethereum as a currency
Barclays, the London-based international financial company most notably known for its banking operations is set to help charities accept Bitcoin donations, says…
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