Blockchain-based BitLendingClub Shuts Down, Cites Regulatory Pressure

Blockchain-based BitLendingClub Shuts Down, Cites Regulatory Pressure

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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”

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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 …

Bitcoin Blockchain Based Spells of Genesis Approaches Launch, BitCrystals Price Rises

admin Bitcoin, Bitcoin Awareness, Bitcoin Politics, Bitcoin Startups, Blockchain, BlockChain Technology Opinions, Buying Services For BItcoin 0 Comments

As the full launch of EverdreamSoft’s Spells of Genesis (SoG) nears, the blockchain-based token powering the digital trading card game, BitCrystals (BCY), has seen a fairly significant rise in price. After a price peak in March, BCY saw a period of bearish activity up to late May, until the price received a bump. Going into July the BCY sat at 0.00010497 BTC ($0.07 USD), according to CoinGecko, and illustrated another climb in the game-based cryptocurrency. Tokenized Mobile Gaming Markéta Korteova, Marketing Director at EverdreamSoft, is sure that BCY’s price patterns are related to the four progress milestones laid out by SoG’s team. Each milestone was a designated marker point toward the game’s development, with the third milestone achieved in February. The first milestone was the launch of BitCrystals in late 2015 through a token sale in which 70 million BCY were made available for purchase. According to the BitCrystal’s GitHub page, 14.3 million BCY were distributed during the sale, raising 40 bitcoins, while the remaining 55.5 million BCY were slated to be destroyed or burned. The crowdsale was a big help to the development of Spells of Genesis, said Korteova. She explains to CoinTelegraph: “From the very beginning, EverdreamSoft’s goal …

Two Bitcoin Companies Make the Fox Business List of 30 Hot Fintech Startups

admin Bitcoin, Bitcoin Crowdfunding, Bitcoin Entrepreneur, Bitcoin Lending / Loans, Bitcoin Politics, Bitcoin Services, Bitcoin Startups, Bitcoin Venture Capital, Buying Services For BItcoin, Featured, Investors, Micro Payments, P2P Lending, Payment Solutions Providers, Social Networks 0 Comments

Fox Business published a list of 30 top fintech startups to watch in the Bay Area. The list includes two Bitcoin companies that offer simple and effective solutions for important real-world problems. BTCjam allows users to invest their bitcoin and earn a high rate of return. This process is secure and allows investors to participate in peer-to-peer lending. BTCjam is also a great place for those seeking loans, and especially for the residents of developing countries without a national credit scoring system who are subject to aggressive predatory lending practices when they need to borrow money from traditional lenders. Using cryptocurrencies such as bitcoin, and tapping foreign lenders, helps BTCjam avoid regulatory issues, TechCrunch reported in 2014. “We are one of the first real use cases for bitcoin,” said founder Celso Cardoso Pitta Jr. “Today people circle around buying and selling of bitcoin, but I don’t think bitcoin increases in value because it’s a commodity or a currency. It needs to be useful.” BTCjam is a marketplace where people from around the world connect to borrow and lend using bitcoin. By the end of 2014, the company had facilitated bitcoin loans in excess of $10 million dollars in value with …

BITCOINPORNSITES.NET LETS YOU VIEW PORN ANONYMOUSLY

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Sexual depictions have existed in the form of rock art since prehistoric times. From the controversial French impressionist painting by Édouard Manet, Olympia, which was a picture of a prostitute, to today’s celebrity leaked porn videos, pornography has long been controversial and in demand. Thanks to Bitcoinpornsites.net, audiences of porn can now watch porn without fears of embarrassment or retribution. With websites being added all the time, Bitcoinpornsites.net library expands consistently.  It has become the internet’s top resource for porn available in Bitcoin. Since its incipience, Bitcoin has been considered an intriguing tool for porn audiences. Long have individuals worried about porn subscriptions showing up on credit card statements. But, in this day-and-age, thanks to Bitcoin, your porn viewing can be kept private. Bitcoin is the simplest, easiest means of paying for things online, especially for pornography. Unlike dollars or euros, bitcoins are produced by computers all around the world with a software that solves mathematical problems. Bitcoin is best for buying things electronically. What makes it markedly different than most other types of currency is that it is decentralized. When paying with Bitcoin, you no longer need to provide your name nor address for even the most hardcore of …

Alex Winter Talks Bitcoin, Drugs and His New Film ‘Deep Web’

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CoinDesk managing editor Emily Spaven interviews director Alex Winter ahead of the release of his new documentary film Deep Web. Libertarian ideals, crime and citizens’ rights in the digital age – there are many themes running through Alex Winter’s latest documentary film, Deep Web, but by far the greatest focus is the story of Ross Ulbricht and his involvement in the online drugs marketplace Silk Road. Winter, best known for his role as Bill Preston in the Bill and Ted franchise, has long since proved his worth on the other side of the lens, having sat in the director’s chair on five films since 1993. His latest offering begins with a rousing speech by British libertarian and cypherpunk Amir Taaki, warning of corrupt fascists masquerading as “white knights”. Taaki enthuses that now is the time for the technological classes to take back their sovereignty. The movie goes on to explore the mysterious underbelly of the Internet – the hidden layer called the Deep Web and its anonymity-rich area: the Dark Net. It’s here that illegal drug marketplaces exist and where Ulbricht’s story begins. The film focuses on the arrest of Ulbricht, the charges made against him for his involvement in …