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Altcoin News

OpenNode Rejects Roger Ver’s $1.25m Fund Offer

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In the latest crypto news, we have the Bitcoin payment processing startup OpenNode with a new $1.5 million investment by Roger Ver that was rejected by the startup.

According to the company, its vision of a better and more open financial system could not be achieved with Bitcoin Cash, adding that it would spend 100% of its resources on Bitcoin and its second-layer payment solutions.

One of the main guys at OpenNode shared his thoughts on Twitter, saying that no amount of money “will make them service inferior money.” As he revealed in a tweet:

OpenNode is a startup that aims to process Bitcoin transactions in real-time in order to boost the digital currency’s adoption among enterprises as well as businesses. The startup supports Lighting Network which is a payment protocol designed to confirm Bitcoin transactions away from the main chain.

Roger Ver, who is the co-founder of Bitcoin Cash, believes that the Lighting Network is an inferior solution to solve Bitcoin’s scalability issues, mostly attempted in order to match Draper’s bid. He also confirmed that he would invest $1.5 million in the startup if they readily accept Bitcoin Cash instead of Bitcoin as their only payment processing protocol.

According to an excerpt from Ver’s statement:

“I don’t need one share whatsoever [for my investment]. All I require is [OpenNode] to work on payment processing of Bitcoin Cash, the version of Bitcoin that can actually scale to become the money for the world.”

Ver also predicted that it would take close to two centuries for the world to board this type of solution. However, in the case of Bitcoin Cash, the time would reduce to 50 years. As he said:

“Bitcoin cannot become the money for the world in a reasonable amount of time with its block size limited to 1 megabyte to 4 megabytes,” he added. “Even with Schnorr’s signature, you are still looking at far more time for BTC to be ready for the world than you are with Bitcoin Cash thanks to Moore’s Laws.”

The community was quick to respond to Ver’s claims against Bitcoin and many argued that the Bitcoin Cash CEO was ignoring the fact that Bitcoin could scale in the next century.

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Altcoin News

Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation

Over the past day, the crypto market recovered from its previous position and reached $123 billion as Bitcoin also managed to avoid another drop below the $3,600 mark. In the latest crypto news, we take a look at some analysis from multiple crypto technical analysts. Some analysts think that because of the high sell-off intensity in the previous period, there is a strong chance for the price of BTC and other altcoins to drop even further below their support levels in the short-term. Also, they believe that Bitcoin will even decline as low as $3,100 by the end of the bear market before recovering by the end of 2019. Crypto technical analyst Eric Thies said that Bitcoin might start a strong movement upwards by the end of 2019:
 “Similar to 2015, 2019 may be the year of accumulation.’’
Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’
Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
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Altcoin News

Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’

The prime minister of Russia Dmitry Medvedev is in our altcoin news today after addressing the bear market while speaking at an international scientific forum. Medvedev pointed out how important it is to carefully monitor the developments of Bitcoin and other cryptocurrencies saying that their high volatility is a cause for concern for many people but the technology behind them provides many benefits and should not be set aside. The prime minister addressed the high volatility of the crypto market in 2018 by saying:
‘’But this, of course, is not a reason to bury cryptocurrencies.  There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’
He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake.  The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
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Altcoin News

Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum

A new report from Dapp.com is in the digital currency news, putting dApps in the spotlight with their increasing usage in 2018. According to the report, the number of dApps was constantly increasing and the most active dApp category across platforms was gaming, followed by betting. Decentralized exchanges had the largest volume of users of dApps, where crypto trading was the first major killer use case for decentralized applications. However, the volume transacted on decentralized exchanges is still dwarfed by the volume at centralized ones. Even though Ethereum had the most users (about 800,000) and the widest variety of dApps, the usage of Ethereum programs was less in terms of transactions than other platforms like the newcomer Tron (TRX). As the dApp report showed:
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."
TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
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Altcoin News

Brave Browser About To Start Paying Users To View Ads

In the latest cryptocurrency news, we are focusing on Brave Browser, the ICO-funded Chrome fork that is known for its privacy. The browser is advertising on the web and all the sites that are visited a lot automatically have an account created for them in Basic Attention Tokens (BAT) and once their balance reaches a certain threshold, they can cash the tokens out. Today, the browser announced that they are going to introduce an advertising platform that pays themselves and users for viewing ads. The tokens which will come as a reward are worth around 12 cents each right now - but could increase in the future. Starting from the 1.0 release, Brave will be replacing advertising online with its own method of advertising, deemed "privacy-respecting" and will allow users to opt-in to see up to 20 ads per day and after the release of this version, will receive 70% of the revenue from the ads they view. The good thing about this model is that when Brave profits, users profit as well. With over 5 million users, Brave is now a fraction of the entire web space. The Brave Rewards program is voluntary and users must own BAT in order to participate in supporting the sites that they love.
"A Brave feature called Brave Rewards allows people who use Brave to contribute BAT to the sites they visit. When someone turns on Brave Rewards, their browser will tally the time and attention they spend on each site, and divide up that person’s monthly BAT contribution among the sites they visit. Brave Ads will allow people to opt in to earn BAT based on their attention. When someone turns Brave Ads on, their browser will begin learning their preferences in order to show occasional relevant ads as system notifications," an excerpt from the website states.
This is definitely one of the steadiest performance models for Brave. Previously, the browser worked on a model of blocking all ads but figured that replacing ads with their own ads is a significantly better option.
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