• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Idelto

Cryptocurrency news website

  • About
  • Monthly analysis
    • August 2019
    • July 2019
    • June 2019
  • Bitcoin/Ethereum
  • How to invest in cryptocurrencies
  • News

Europe

Crypto Industry’s Favorite Messaging App Telegram Surpasses 500 Million Active Users

13/01/2021 by Idelto Editor

Crypto Industry's Favorite Messaging App Telegram Surpasses 500 Million Active Users

Telegram, a popular messaging app within the cryptocurrency space, surpassed 500 million monthly active users during the first week of January, according to Telegram chief executive officer Pavel Durov.

In the last 72 hours, said Durov, the app has seen a massive surge in new users, with an additional 25 million people signing up to use the platform. These new users are coming from all around the world, with the majority – 38% – drawn from Asia.

Some 27% are coming from Europe, 21% from Latin America, and 8% from the Middle East and North Africa (Mena region). Around 200 million people used Telegram in 2018, meaning user growth has exceeded 150% over two years.

Telegram may have benefited from changes to the privacy policy at rival Whatsapp. Recent updates to Whatsapp’s privacy policy require that users share their personal information with parent firm Facebook or stop using the service altogether.

These changes are believed to have prompted users uncomfortable with sharing more of their personal data with Facebook to leave Whatsapp, and join privacy-centric competitors such as Telegram or Signal.

Unlike other competing messaging apps, Telegram does not share personal data and offers encrypted chats.

Posting on his personal Telegram channel on Jan. 12, Durov said:

People no longer want to exchange their privacy for free services. They no longer want to be held hostage by tech monopolies that seem to think they can get away with anything as long as their apps have a critical mass of users.

The Telegram CEO added that “with half a billion active users and accelerating growth, Telegram has become the largest refuge for those seeking a communication platform committed to privacy and security.”

In 2020, Telegram reported new user sign-ups of 1.5 million each day, a far cry from the current influx of people joining the platform. “We’ve had surges of downloads before, throughout our 7-year history of protecting user privacy. But this time is different,” noted Durov.

Until now, all services on Telegram have remained free. However, Durov announced in December that some services may now be monetized. He said additional functions will appear for “business teams and users with advanced needs” and those features will be paid because they are “resource-intensive”. Ordinary users will continue to use Telegram for free, he emphasized.

Telegram attempted to launch its own cryptocurrency called Gram, through the TON blockchain platform, but was blocked by the U.S. Securities and Exchange Commission. That left Pavel Durov, who had raised $1.7 billion from select investors for the project, saddled with a debt of $1.2 billion and $18.5 million in penalties.

Now some investors in TON are preparing a lawsuit against Durov to try and force the businessman “to sell part of Telegram or the entire company and pay off the investors, because he spent money on Telegram,” according to a Forbes report. Durov allegedly spent $500 million of the TON money to upgrade Telegram, something investors claim was not part of the original deal.

What do you think about the influx of new users at Telegram? Let us know in the comments section below.

Filed Under: Asia, English, Europe, Facebook, gram cryptocurrency, Latin America, MENA, messaging app, News, News Bitcoin, Pavel Durov, Signal, Telegram, Telegram user growth, TON blockchain, u.s. securities and exchange commission, WhatsApp

Video: Differences From The Fed And ECB On CBDCs

09/12/2020 by Idelto Editor

YouTube Video

Listen To This Episode:

  • Apple
  • Spotify
  • Google
  • Overcast
  • Libsyn

For this episode of Bitcoin Magazine’s Fed Watch, my cohost Christian Keroles and I get into specifics on the plans of the European Central Bank (ECB) in regard to its digital euro. We are told in the media that central banks are going to release Central Bank Digital Currencies (CBDCs) and that this will will have damaging economic effects. However, on this podcast episode we get our information directly from the source.

First, we must answer a critical question: Is a digital euro likely to really launch and why? (In future episodes we will cover the side-effects of CBDCs, if there are any.)

On November 30, 2020, the president of the ECB, Christine Lagarde, released a blog post detailing the ECB’s current thoughts on money and how a digital euro, or CBDC, fits into its plans. I talked about this on my recent episode of Bitcoin & Markets, and Keroles wanted to explore the idea of the worries of the ECB specifically, because its thinking seems to be heavily worried about monetary sovereignty.

That term, “monetary sovereignty,” came up several times is Lagarde’s blog post in the context of why ECB feels pursuing a CBDC is necessary. This contrasts with statements from Federal Reserve Chairman Jerome Powell’s, which have focused on patience and conservatism instead of worries about monetary sovereignty. Why is this?

Most likely, this is because there already are digital stablecoins, which function in a similar manner to how a digital euro would function in the market. But there is a big problem in the free market offerings of these stablecoins from the ECB vantage point: they are 99 percent U.S. dollar based. If the ECB were not to act, the market might completely bypass use of the euro in favor of a digital dollar. That is a scary possibility for the ECB, so it must provide that option for the market, and maybe even require its use in some cases to maintain the euro’s global position.

This episode also covered the recent MicroStrategy “bonds for bitcoin” proposal. Listen to find out if this is the first signs of the long awaited “speculative attack” on fiat by bitcoin, and what to watch out for as this move receives the keen attention of regulators.

We also discussed jurisdictional arbitrage at length. How does bitcoin enable jurisdictional arbitrage even within regions like the U.S. or European countries? Of course, as good bitcoiners, this leads us to a cosmic back and forth about citadel locations, and the best place to live in the future from a freedom and economic standpoint. 

The post Video: Differences From The Fed And ECB On CBDCs appeared first on Bitcoin Magazine.

Filed Under: Banking, Bitcoin Magazine, CBDC, English, Europe, fed watch, Federal Reserve, Podcast, Video

Volatile Bitcoin Not a True Store of Value Just Yet, Says Fidelity Digital Assets Head

05/12/2020 by Idelto Editor

Volatile Bitcoin Not a True Store of Value Just Yet, Says Fidelity Digital Assets Head

Fidelity Digital Assets president Tom Jessop says that bitcoin is not a true store of value just yet because the digital asset is still too volatile, Reuters reported. However, investors are optimistic bitcoin will attain this status.

“We use the word ‘potential store of value’ as bitcoin is still extremely volatile, and by any standard perhaps would not achieve the mantle of a true store of value,” Jessop told Reuters’ Global Investment Outlook Summit 2020 on Thursday.

“But aspirationally it is, and that’s one of the reasons why so many investors are now thinking about this space constructively.”

Bitcoin (BTC) hit an all time high of $19,864 on Nov. 30, fuelled by massive institutional demand. The asset notched up about 47% in gains last month, and is up more than 400% since the Black Thursday crash of March 12.

Institutional investors such as Microstrategy, Square and others have muscled their way into crypto because they are convinced that bitcoin – with its maximum supply cap of just 21 million coins – is a safe hedge against monetary inflation, particularly at a time of limitless government spending.

But the digital asset has also elicited derision on account of its volatility. For example, in 2017, bitcoin soared about 400% in just 35 days, before it lost half its value within 30 days, Reuters reported. Recently, BTC lost $3,000 of its value in a matter of minutes after having rallied strongly.

However, Jessop’s comments appear in contrast to Fidelity Digital Assets’ deep involvement in the cryptocurrency business. The company, a unit of $3.3 trillion-asset manager Fidelity Investments, offers crypto trading and custody services to financial companies and corporates.

In October, Fidelity released its Bitcoin Investment Thesis, which on the whole supported bitcoin as viable investment option. The firm has also expanded its crypto trading and custody services to Europe and Singapore citing “significant interest”.

What do you think about bitcoin’s store of value status? Let us know in the comments section below.

The post Volatile Bitcoin Not a True Store of Value Just Yet, Says Fidelity Digital Assets Head appeared first on Bitcoin News.

Filed Under: bitcoin store of value, Black Thursday, English, Europe, Fidelity Digital Assets, Fidelity Investments, News, News Bitcoin, Reuters' Global Investment Outlook Summit 2020, Singapore, store of value, Tom jessop

Ripple Is Selling 33% of Its Stake in Moneygram

29/11/2020 by Idelto Editor

Ripple Is Selling 33% of Its Stake in Moneygram

Ripple Labs Inc. is selling 4 million of its shares in Moneygram, or about a third of its total shareholding in the company.

The decision seems in part to be motivated by the surging Moneygram share price and Ripple’s desire to cash out after buying the shares at a premium of $4.10 in 2019.

At close on Nov. 27, shares of Moneygram were down 4.8% at $7.42 on the Nasdaq Stock Exchange. However, the stock has soared 260% year-to-date, rising from $2.06 on Jan. 2.

Ripple will earn nearly $30 million if it sold its 4 million Moneygram shares at current market prices – an almost 50% gain. However, the sale is still in process.

A Ripple spokesperson was quoted by industry publications as saying, “this is purely a judicious financial decision to realize some gains on Ripple’s Moneygram International investment…” The spokesperson added that the sale “is in no way a reflection of the current state of our partnership.”

According to a U.S. Securities and Exchange Commission filing on Nov. 27, Ripple owns an 8.6% equity stake in the global remittance behemoth Moneygram. That’s the equivalent of 6.24 million shares.

Ripple, the issuer of the eponymous XRP cryptocurrency, has the option to buy an additional 5.96 million shares under a warrant. If exercised, that option would bring Ripple’s total shareholding to 12.2 million shares or about 17% of Moneygram’s shares outstanding.

Ripple has now put up the 4 million shares for sale. The shares represent about a third of its entire stake in Moneygram when the warrant shares are included. Excluding those, Ripple will still own 2.24 million shares or 3.1% of Moneygram’s shares outstanding. Counting in the additional warrant shares, that would rise to an 11% stake.

“We will remain a significant shareholder in Moneygram following the sale,” asserted the Ripple spokesperson, adding that “in just over a year, we’ve made incredible progress and look forward to continuing to work alongside Moneygram to transform cross-border payments.”

Ripple completed a $50 million investment in Moneygram in November 2019, in what was touted by the two entities as a strategic partnership. At a premium price of $4.10 per share at the time of the purchase, the $50 million investment adds up to exactly 12.2 million shares – the total number of shares Ripple holds in Moneygram, inclusive of the additional warrant shares.

Moneygram uses Ripple’s XRP-based settlement network, the On-Demand Liquidity (ODL) network, to facilitate remittances in Australia, Europe, and the Philippines.

What do you think about Ripple selling its Moneygram stake? Share your thoughts in the comments section below.

The post Ripple Is Selling 33% of Its Stake in Moneygram appeared first on Bitcoin News.

Filed Under: Australia, English, Equity sale, Europe, MoneyGram, Nasdaq Stock Exchange, News, News Bitcoin, On-Demand Liquidity (ODL), Philippines, remittances, Ripple Labs Inc, u.s. securities and exchange commission

EURST Stablecoin – Reinvention of the European Economy

28/11/2020 by Idelto Editor

EURST Stablecoin – Reinvention of the European Economy

Over the years, we have been introduced to a digital transformation, which has created and shaped communities around the world. Digital technologies have introduced newly evolved ways of how the world interacts, operates, and most of all, conducts exchanges. In the current economic hardship and the Covid-19 global pandemic, the European Union has had to face many operational and structural facts, one of them being the strength of the fiat currency; the Euro.

The European Economy Operates via a Flawed System

Since the introduction of the Euro, the currency has been in a consistent debate, regarding its strength and endurance within the global exchange.

This specific criticism is defined by a strategic error, showcasing a dominant flaw; specifically, the Euro not having a strong asset-backed united economy. The fault has been well argued for the fact that the creation of the Euro intended to mimic the firm stance and ability of the US dollar, yet the European Union is still divided via an economic standpoint between members.

Although opinions may vary, one cannot argue the strength of the organizational base of the US economy and consistency of the USD currency portraying a ‘robust’ stance even with the turmoil of changes the year 2020 has presented.

‘This is why the US economy was more prepared for the Covid-19 pandemic. The European economy operates via a different…maybe, one could say, a flawed economic system, and therefore it becomes more vulnerable to change of regulations and stabilize operations during such times’ – Simone Mazzuca

EURST Stablecoin – Reinvention of the European Economy
Simone Mazzuca

With that in mind, the economic hardship for individuals and businesses within the EU could be reduced by the creating regulations which embrace current and future digital technological possibilities.

‘The basis of Europe has a strategic position through the exchange and global power, however, in its current stance with addition to BREXIT, Europe finds itself in an even more vulnerable position’ – Simone Mazzuca

Henceforth, the development of stablecoins comes at the right time, especially when international financial policies seem to be polarized by different financial variables and the inflationary nature of the Fiat.

This is why Mr Mazzuca created EURST, a USD asset-backed and live audited stablecoin. The newly developed digital currency from Wallex Trust represents 1€ worth of USD, secured by the accounts of the federal reserve and Wallex Trust itself.

EURST Presents Opportunities for a Better Economy

Issued as a token on the Ethereum network according to the well-established ERC20 standards, the advanced capabilities of blockchain technology enables users to conduct faster and more secure transactions. This is enabled through the use of smart contracts, which digitize deposited funds that are held in a segregated account by the issuer. Thus, empowering users to transact their money without the high costs and lengthy delays of the current financial system.

‘EURST can be used as a logistical background for the representation of the Euro’ – Simone Mazzuca

Even more, blockchain technology enables EURST to be fully transparent and live audited as transactions are recorded on the digital ledger, in addition to having regular third-party audits.

This presents the ability not solely to bring transparency and security, but also allows users to store their funds within a trusted Custodian, Wallex Custody. Through the use of opening an account within Wallex Custody, users can benefit from additional security and privacy while maintaining fluidity in the deposit, transfer or withdrawal of personal funds convertible to any currency of choice within a quick and borderless matter.

In conclusion, EURST presents itself with opportunities and possibilities for a better economy, and, we highlight some dominant features:

1. The protection of wealth from losing value in relation to the Euro may use the stablecoin to save money without opening a bank account in Europe
2. Users wanting to deposit funds to cryptocurrency exchanges for trading may use EURST instead of Fiat.
3. Oversees workers may use EURST to bypass the expensive transfer fees charger when making fiat remittances to their family back home.

Following the above-mentioned advantages, EURST does indeed portray the possibility and opportunity to bring a sort of ‘chameleon’ option for operations with the Euro currency. The transparency and security of the stablecoin, EURST, is that it brings and gives support to individuals and businesses to operate successfully and this, within an economy that is yet to provide us all with reassurance.

Link to EURST: https://eurst.io/

Link to Wallex Trust: https://wallextrust.com/

Link to Wallex Custody: https://www.wallexcustody.com/


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

The post EURST Stablecoin – Reinvention of the European Economy appeared first on Bitcoin News.

Filed Under: Bitcoin, crypto, cryptocurrency, English, EU, Euro, Europe, EURST, News Bitcoin, Simone Mazzuca, Sponsored, Stablecoin, Wallex, Wallex Custody

  • Page 1
  • Page 2
  • Page 3
  • …
  • Page 13
  • Next Page »

Primary Sidebar

Archives

Recents articles

  • Swiss Stock Exchange’s Crypto Trading Volume Soars — Hits Record $1.2 Billion
  • IMF Says Only 23% of Central Banks Can Legally Issue Digital Currencies
  • A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity
  • Mt Gox Creditors Asked to Approve a Settlement Proposal Drafted by Coinlab
  • Bahamas-Based Deltec Bank Holds a ‘Large’ Bitcoin Position
  • TNABC Miami’s Eighth Annual Conference Goes Virtual, Event Underscores Technology’s Important Role
  • French Programmer Sent Bitcoin Donations to Far-Right Activists Who Participated in the US Capitol Riots
  • Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro

© 2021 · Idelto · Site design ONVA ONLINE