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Bitcoin News

DC Lobbying Group: The New Body Formed By Major Crypto Companies From Washington



A group of several Washington-based blockchain funds, exchanges and startups recently decided to form a Blockchain Association – as a way that would lobby Washington DC’s lawmakers.

According to the Washington Post, the new organization would focus on both education and legal charges as part of a major effort to normalize the relations between crypto startups and lawmakers.

Some of the companies that joined this new body include Coinbase, Circle, Digital Currency Group, Polychain Capital and Protocol Labs – all of which are founding members of the association.

One of the first employees in the organization is a major blockchain lobbyist named Kristin Smith. As she told Washington Post, she would “guide the organization”, stating that she has a lot of experience with education work in this space. Smith also said that she is “excited to focus exclusively on these issues.”

According to another report by Politico, the general counsel of Protocol Labs, Marvin Ammori and Hangar Founder Josh Mendelsohn will also advise the group. The chief legal and risk officer at Coinbase, Mike Lempres, told Washington Post that the organization would bring companies together to advocate for reasonable regulation. As he stated:

“The Blockchain Association is an effort to get the preeminent companies in the space together so [policymakers] know they’re hearing from companies that welcome regulation when it’s appropriate … We’re not companies looking to game the system, but trying to develop a legal and regulatory system that’ll stand the test of time.”

As the current information stats, the Blockchain Association will focus on tax law and how know-your-customer/anti-money laundering rules relate to crypto exchanges and startups, at least in the beginning – according to the report.

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Altcoin News

CEO Of Binance Thinks That Market Is Still In A Good Position, Crypto Volume x2 Larger Than Stats

A new interview on the CNBC Crypto Trader show hosted by Ran Neuner emerged in the latest cryptocurrency news - where the CEO of Binance, Changpeng Zhao (CZ) said that the crypto market and Binance are still in a good position even after a year of downward price movement. We all know that over the past 11 months, the crypto market lost more than 70% of its valuation amidst the fourth biggest correction in its 10-year history. According to Zhao, the volume of Binance is now down nearly 90% since January due to the major price correction and because of the high level of stability that Bitcoin has demonstrated over the past three months. As he said:
“Compared to January [of 2018], we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we had in January. But, compared to like a year or two years ago, we’re still trading at huge volumes. Business is still okay, we are still profitable, and we are still a very healthy business."
Binance is still recording decent volume and maintaining a healthy business - showing an increase in its number of active users and BTC deposits. Zhao continued, stating:
“Right now we are still signing up a steady amount of new users every day so from what we are seeing, it’s very healthy actually. The number of new users and the amount of crypto we hold are increasing very steadily. So if you look our cold wallets, the amount of BTC we hold, we have just seen an increase in people depositing Bitcoin to our exchange.”
Meanwhile, the cryptocurrency market cap seems to be getting hold of the over-the-counter (OTC) market where large institutional traders are playing. According to some stats from earlier this year, this market is at least two times larger than the cryptocurrency exchange market. CZ also noted that the OTC market is estimated to be at least as large as the live recorded volumes of exchanges. As such, it is now twice the size of the current volume, having around $23.4 billion (despite the $11.7 billion daily trading volume of crypto) in circulation.
“What I’ve heard is the OTC market is at least as large as the live recorded volumes [on exchanges]. So that is at least 50 percent of volumes that is not being reported on CoinMarketCap. But we’re not heading to that business, so we don’t know the real volumes,” Zhao concluded.
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Bitcoin News

Major US Museum Starts Accepting Payments In Bitcoin

Great Lakes Science Center is the new museum that is now viral in today's crypto news, mostly because of its recent decision to start accepting payments in crypto. Based in Cleveland, Ohio, this museum is a large educational facility that will begin accepting Bitcoin as a payment method starting November 13th. The CEO of the Great Lakes Science Center, Kirsten Ellenbogen, said that the institution decided to accept crypto in order to boost the growth of the local blockchain ecosystem. As she noted:
“There is a lot of excitement around the conference. Accepting bitcoin is just a small part of the momentum to grow a blockchain ecosystem in Cleveland.”
The Museum of the Coastal Bend in Texas as well as the St. Petersburg Museum of History in Florida have both been accepting BTC for quite some time, which makes the Great Lakes Science Center officially the third museum in the US to start accepting crypto as a payment method. With this, it is easy to see that Bitcoin has become a major store of value. The $110 billion in circulation are acknowledged as a proper asset by many large scale institutions, some of which include ICE, Fidelity, Nasdaq and the New York Stock Exchange. This integration comes after Hublot, which is a Swiss luxury watchmaker, successfully integrated Bitcoin in order to sell 210 pieces of its limited edition Bitcoin-themed sports watch for $25,000 a piece, generating more than $5 million in revenue purely through these sales.  
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Bitcoin News

20% Of UK Residents Think that Bitcoin Will ‘Inevitably’ Be As Common As Cash

A new survey by YouGov which is a global data and research firm serving industries, governments and people in different ways - has emerged in the crypto section of our DC Forecasts Bitcoin news site - showing the interest about Bitcoin in the United Kingdom. According to the research, people in the United Kingdom are aware of Bitcoin (93%) and only 4% of them claimed to understand the most dominant cryptocurrency very well. Almost six times that many claimed to understand it "fairly well" and what was interesting is the fact that more and more young people are aware of and interested in Bitcoin. About one in six people over the age of 55 claimed to understand Bitcoin fairly well, while 20% of the people believe that Bitcoin will inevitably be "as common as cash or card" as the survey notes. Another interesting figure is the 6% of all men polled - who said that they had invested in Bitcoin before - and 1% of women that had purchased Bitcoin. This group was overwhelmingly aged 18-24 which proves that the age of digital currency gives birth to a new type of investors, the "young" ones. The YouGov researchers also highlighted that about 87% of the respondents were neutral or negative on the subject of non-bank currency. The largest group of 25% answered that they were neutral on the subject while another (18%) said they were not sure how to answer that.  
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Bitcoin News

Bitmain Releases The Antminer S15 Bitcoin Mining Chip: How It Ranks Among The Competition

The largest Bitcoin mining company in the world, Bitmain, is in the daily cryptocurrency news for releasing and already selling out of its new ASIC Bitcoin mining chip - the Antminer S15. At a price of $1,475 a piece and a customer limit of two maximum, this is one of the best products when it comes to mining hardware. Bitmain's Antminer S15 is able to clock up to 23 terahash per second which means that 3 to 4 units would be required to match the performance compared to Bitfury's Tardis which can clock up to 80TH/s. The Tardis, however, is a lot more expensive and costs around $7,000 per unit. If we compare the Antminer S15 to another chip which is the Ebang Ebit 11+ - at a cost of $1,517 and a hash rate of 37TH/s - it is easy to see that this is the best deal on the market. At the same time, one cannot simply purchase a single E11. Instead, you must buy at least 50 for a minimum investment of $75,850. All in all, stats from CoinWarz show that it would take just over 6 months to begin earning a profit from this chip with all factors considered. In general, Bitcoin mining has lost popularity as a profitable way to make money - mostly because of the large upfront investment and the profit margins which can be very slim for miners who must convert their coins right away.
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01nov9:00 am02(nov 2)8:00 pmMalta Blockchain SummitA Buzzing Show on the Blockchain Island!9:00 am - 8:00 pm (2) InterContinental Malta, St. George’ s Bay St. Julian’s STJ 3310 Malta

05novallday08alldayCrypto Explorers' Crypto Valley TripSpend 3 Days Exploring the Decentralized Future.(All Day) Zug & Zurich, Switzerland, Kolinplatz 1, 6300 Zug, Switzerland

07nov(nov 7)10:00 am08(nov 8)8:00 pmBlockchain Life 2018The largest international forum on blockchain, cryptocurrency, ICO and mining in Russia and Eastern Europe.10:00 am - 8:00 pm (8) EXPOFORUM, EXPOFORUM, Saint Petersburg, Russia

09novallday13alldayBlockspot Conference Europe 2018The must-attend Blockchain event in Portugal(All Day) Lisbon, Portugal

fri09nov8:15 am5:30 pmHealthcare Unblocked 20188:15 am - 5:30 pm Etc Venues Prospero House, Etc Venues, Prospero House, 241 Borough High St, London SE1

fri09nov9:00 am7:00 pmNEXT BLOCK Conference: Evolution of Property9:00 am - 7:00 pm Marriott Lisbon Hotel - Portugal’s trendiest conference center., Avenida dos Combatentes 45, Lisbon 1600-042 Portugal

11novallday12alldayDecentralized Talks(All Day) DUBLIN, IRELAND