Blockchain-based BitLendingClub Shuts Down, Cites Regulatory Pressure

Blockchain-based BitLendingClub Shuts Down, Cites Regulatory Pressure

admin Bitcoin Politics, Bitcoin Regulations, Bitcoin Services, Bitcoin Trading Platforms, Buying Services For BItcoin, CoinGreed, P2P Lending 0 Comments

The world’s largest Blockchain lending marketplace, BitLendingClub, has announced its sudden shutdown due to what it describes as regulatory pressure. The Bulgarian-registered startup has operated since 2014 and has funded almost 10 thousand loans worth in excess of $7 mln. Now, its operations are ceasing, with existing users retaining minimal functionality in order to move funds out. “We’ve worked extremely hard to build a platform and a community which is uniquely positioned to provide the Bitcoin ecosystem with a greatly needed service,” a blog post released today states. The company adds: “However, over the last year or so, the regulatory pressures has been increasing to the point that it is no longer feasible to maintain the operation of the platform. We are regretfully announcing that we will have to begin (sic) terminating the services effective immediately.” The functionality will begin to be reduced from next week. The burden of compliance The move reflects the continued difficulties faced by cryptocurrency-based finance startups with regards to legislation. While the EU has been fairly accommodating to disruptive finance overall, as witnessed in activity in the Netherlands, ensuring businesses conform to the requirements can overbearingly restrict functionality. BitLendingClub said the shutdown was part of the …

LocalBitcoins Volumes In New Global USD All-Time High, “Busiest Week Ever”

admin Bitcoin Bank, Bitcoin Entrepreneur, Bitcoin Services, Bitcoin Trading Platforms, Buying Services For BItcoin, CoinGreed, Exchanges 0 Comments

In the wake of inching closer to its 2016 peak, CoinDance indicates that the worldwide weekly volume of popular P2P Bitcoin marketplace, LocalBitcoins, reached a new all-time high on record USD volumes last week with five countries – USA, Malaysia, Brazil, Venezuela, and Sweden – recording all-time highs within the same period. LocalBitcoins CEO Nikolaus Kangas says: “It was certainly one of the busiest weeks on our platform ever.” The highest price of the top digital currency this year stands at $763.33 in June. Last week, the price reached $720.29, the closest to the peak rate for the year so far. As may be expected of the five countries, Venezuela recorded the highest leap due to the worsening economic situation in the country which may have compelled the people to seek an alternative means to earn, send and receive money for their use outside the use of traditional banking institutions. Users follow price rise Though Nikolaus Kangas did not confirm the claim as a “100 percent technical fact,” the illustration shows the volume on the platform that facilitates over-the-counter trading of local currency for Bitcoin reached $15.9 mln as on Oct. 29, 2016. “I cannot say that it is 100 …

Bleutrade Exchange – Review & Tutorial

admin Altcoins, Bitcoin, Bitcoin 2.0, Bitcoin News, Bitcoin Trading Platforms, Blockchain, Exchanges, Market Terminology 0 Comments

We’ve been trading cryptocurrency (alt coins such as Bitcoin, etc.) at Bleutrade for a few months now and figured it was time for a review of our experience(s).  We’ve also provided some tutorials on how to get started.   BLEUTRADE.COM REVIEW We first heard about Bleutrade earlier in 2014, but hadn’t gotten around to making an account and transferring in some cryptocurrency until May or June. We decided to check them out and start trading because their trading interface is quite a bit different than any other exchange out there.  (if you’re not quite sure what all of this “cryptocurrencies” stuff is all about – check out this good article over on Wikipedia) HOW IS BLEUTRADE DIFFERENT? This is not to say that the actual trading process is different – it’s not, but the fact that there are so many different “trading pairs” is what really got our attention. Many exchanges only allow for trading your favorite cryptocurrency for Bitcoin, and to a lesser extent the other exchanges will allow you to trade in Litecoin too, but only in limited markets.  Bittrex has recently opened some trading pairs with Blackcoin, but not many. HOW MANY TRADING PAIRS? Bleutrade on the …

A Quick Review Of BTCLend A Peer-To-Peer Bitcoin Lending Network

admin Banking, Bitcoin, Bitcoin Affiliate Programs, Bitcoin Lending / Loans, Bitcoin Startups, Bitcoin Trading Platforms, Blockchain, Buying & Selling, P2P Lending, Peer-to-Peer, Wallets 0 Comments

Don’t get caught in a jam While I have never been a big believer in loans in my life, crypto currency technologies have greatly changed my view on that subject this year when a new upstart launched in San Pedro California on January 17th  2015. BTCLend has a very solid platform with a familiar and simple to follow GUI that many crypto users may be familiar with if you have used BTCJam. After that, all the similarities drop off fast. BTCLend is banking on features that have already proven successful for others while at the same time developing potential features that many have asked for in the crypto currency lending space.   You Can Sign up Here Now and Create your BTCLend Wallet!   Signing up with BTCLend is straightforward, it is very much like opening a bank account and you will need to become verified at higher levels to gain a higher credit worthiness rating. After two months of operations BTCLend Currently has 71 open loan listings with a total of  ฿ 60.59855 in total funded loans to date. While BTCLend has been successful at creating an alternative to BTCJam for the crypto world. They have also learned from …

Whale Club: The Trading Room That Loves Bitcoin Price Declines

Whale Club: The Trading Room That Loves Bitcoin Price Declines

admin Bitcoin Resources & Tools, Bitcoin Trading Platforms, Buying & Selling, Exchanges 0 Comments

“How much is he dumping?” The phrase comes to surface amid a collection of voices, most discussing the unknown trader. The room focuses on his (or her) observable market influence, dissecting how and why he closed all his short positions for signs of strategy. “He was defending that position,” one of the voices says with authority. “That price should have gone up on the ratio, it didn’t. I think it was him dumping.” Whether he’s Clowncontrol, Gregcron or Barry White, or one of a host of other usernames thabt dot the screen, is unclear. Salacious talk aside, it’s a boring day in the Whale Club trading room. Bitcoin is trading at $250, up from $230 days before. The rise has been the first jolt in an otherwise “choppy” cycle for theprice of bitcoin, weeks of ups and downs with no clear trading patterns to yield profits. “It’s been out since Monday,” one of the traders interjects amidst sudden silence, clearly bored by bitcoin’s stability. Debate ensues over the hit Netflix series House of Cards. For a moment, it could be any Wall Street break room. “Look at this one-minute candle, holy [expletive]!” exclaims another voice. Just as quickly, Whale Club is …

“Popcorn Time has exploded over the last year as a free and likely illegal alternative to Netflix, with no monthly fees, more content, and in some cases better quality video.”

Why Bitcoin’s Killer App Is Going to Look Like Popcorn Time

admin Bitcoin Entrepreneur, Bitcoin News, Bitcoin Startups, Bitcoin Trading Platforms, Peer-to-Peer, Reviews, Technology, Torrents 0 Comments

A recent WIRED article entitled “Popcorn Time’s Piracy App Is Sneaking onto iPhones” reads: “Popcorn Time has exploded over the last year as a free and likely illegal alternative to Netflix, with no monthly fees, more content, and in some cases better quality video.” In case you don’t know, Popcorn Time is built on the Bittorrent protocol. And many – if not most – Popcorn Time users have never heard of Bittorrent. Sound like a predecessor for Bitcoin’s killer app? Swap out a few words and see: “Fill-in-the-blank-Bitcoin-app has exploded over the last year as a free and likely illegal alternative to state-sanctioned banking, with no fees, more payment options, and in some cases built-in merchant discounts.” Peer-to-Peer Brings the Fear The evolutions of Bittorrent and Bitcoin closely mirror one another. Bittorrent was launched in 2001. Over the years, it’s weathered tiresome attacks by Hollywood’s political wing, the MPAA – attacks that were pushed all the way to the ISP level. Internet service providers began attempting to throttle torrent traffic, largely in response to legal threats from the MPAA. End users were even “fined.” The company that maintains the Bittorrent protocol, Bittorrent, Inc., went so far as signing a legal …