Gimme The Coin

​​Twitter CEO Dismisses Facebook’s Libra Project as a ‘Gimmick’

Jack Dorsey, the CEO of Twitter, has launched a scathing attack on rival social media platform Facebook’s Libra plans.

Dorsey was speaking at a Twitter event held in New York, and was asked about the possibility of Twitter joining the Libra Association – with Facebook representatives in attendance.

Dorsey did not pull any punches in his response. Per a tweet from CNN journalist Kerry Flynn, the Twitter chief replied,

“No. Hell no. Nothing within Libra had to be a cryptocurrency to do what they want to do. They use that label liberally. It’s completely incorrect. I don’t know if it’s a gimmick but cryptocurrency wasn’t necessary to make that thing work.”

The CEO is a well-known Bitcoin proponent, but skeptics may wonder if Dorsey’s comments may have anything to do with deflecting attention from Twitter’s own finances.

While regulators have heaped the pressure on Facebook to halt Libra, slating the company for its past privacy-related issues, Twitter has found itself in a financial quagmire.

Twitter stock plunged by 21% on Thursday after the company told its shareholders that its third-quarter results had been blighted by product issues and advertising “headwinds” – claiming more trouble could be ahead in 2020.

Regulators and politicians, meanwhile, will not likely let up in their attempts to push Facebook into a Libra climb-down.

Maxine Waters, the head of the Congressional Committee on Financial Services, stated this week,

"It would be beneficial for all if Facebook concentrates on addressing its many existing deficiencies and failures before proceeding any further on the Libra project.”

Facebook’s Head of Content and Algorithm Policy Andy O'Connell, also speaking at the Twitter event in New York, conceded that Facebook had made mistakes in the past. He remarked, again per Flynn,

“I think a lot of challenges Facebook has faced is because we haven’t been transparent about our decisions. That’s why we [now] have an oversight board.”

​​Bitcoin Price Explodes With One of the Biggest Rally in History

The Cryptoverse is stunned. While many analysts, traders were discussing where will bitcoin price go next - below USD 7,000 or USD 6,000 - the most popular cryptocurrency made one of its largest moves up.

In less than one day, the price skyrocketed from c. USD 7,500 to more than USD 10,100. At pixel time (05:52 UTC), it corrected lower and trades at c. USD 9,710. It's up by 30% in the past 24 hours, by 22% in the past week and by 14% in the past month. Last time bitcoin price was at this level is the end of September.

Moreover, bitcoin dominance, or the percentage of the total market capitalization, jumped by c. 3 percentage points, to 67.6%. The total market capitalization increased by 24%, to USD 257.9 billion.

“This positive sentiment, along with a good buying opportunity at the key USD 7,500 support level, has led to there being more buyers than sellers — which, at the end of the day, always leads to markets going higher,” Jeff Dorman, chief investment officer at Arca, a Los Angeles-based asset manager that invests in cryptocurrencies, told Bloomberg.

While opinions are mixed as for what caused the rally, some analysts are attributing it to a recent news from China. China’s President Xi Jinping urged the country to accelerate the development of blockchain technology due to its importance "in the new round of technological innovation and industrial transformation" of China.

Also, on Friday, Bakkt, the U.S.-based physically-settled Bitcoin futures trading platform, set a new daily record of 1,179 Bakkt Bitcoin Futures contracts traded, or 84% more than the previous record set earlier this week.

Meanwhile, other coins from the top 10 by market capitalization are up by 7%-31%. Ethereum increased by 16%, XRP is up by 9%. However, when measuring the returns in terms of bitcoin, only a few coins from top 100 by market capitalization are in green today. For example, ether is down by 10% against BTC, while XRP crashed by 15.5%.

Crypto researcher and analyst Willy Woo said that, in his view, Bitcoin bull market are in 3 phases.

"A pop out of accumulation. We are still playing this out. The second phase is a nice long, steady climb with lowish volatility. (The 3rd stage is mania when volatility goes out of control). On current timelines we'll enter phase 2 a few months before the May 2020 halvening when a bullish on-chain structure should coincide with halvening front running. That's the best time to deploy capital or go long with high certainty," he said.

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​​Biscuit & TRON Partner to Deliver Hit Sequel, Knight Story

After much anticipation, TRON announces its partnership with Biscuit to build and distribute the next generation of blockchain games with the goal of accelerating adoption. TRON joins as a strategic investor to the promising blockchain game studio, widely celebrated for its chart-topping hit, Knight Story (previously EOS Knights).

Knight Story topped the charts across all public chains in terms of DAU and transaction volume from 2018-2019. Players loved the RPG’s cute character models, polished UI, and plentiful loot. They progressed through the game by raiding dungeons, acquiring new equipment, and upgrading heroes to find more valuable loot. At its peak, the DApp had over 6,000 daily players and brought in almost $20,000 in daily revenue.

The partnership will begin with the release of an upgraded version of Knight Story, built using the TRON blockchain, in December 2019. The game will be available for download on most iOS and Android devices and feature a revamped economy powered by TRX and TRC-based tokens (including NFTs). Players will accrue value from their gameplay, with even greater earning opportunities on the horizon as TRON continues to grow.

Biscuit chose to migrate its next iteration of Knight Story from EOS to TRON to take advantage of the TRON network’s performance, developer-friendly tools, and robust ecosystem of applications. For the Biscuit team, building on TRON presents greater opportunities to create synergistic partnerships and attract the largest audience possible.

Jay Lee Quote Jay Lee, CEO of Biscuit says,
We are very excited to partner with TRON and we’re eager to see Knight Story thrive on the TRON network. This collaboration will help us to realize Biscuit’s mission and continue to innovate games using blockchain technology.

Likewise, TRON has been inspired by the Biscuit team’s prodigious development talent and passion for enabling greater blockchain adoption. As such, in addition to investing through the TRON Arcade fund, TRON intends to support the project as the game’s publisher. TRON plans to promote Knight Story throughout its expansive distribution network that includes partner ecosystems like BitTorrent and Opera. In total, TRON will distribute Knight Story to hundreds of millions of players, making this the most ambitious DApp ever launched. There has never been a decentralized game of this scale ever before.

Justin Sun, CEO of TRON & BitTorrent says,

There has never been a decentralized game of this scale before. Biscuit’s successful rollout of blockchain gaming for mainstream audiences marks a turning point for the space. I want to thank Biscuit for their hard work and passion for blockchain. Together, we will progress mass adoption of blockchain for everyone.

About Biscuit
Biscuit Labs is a development team that launched the legendary first-generation blockchain game, EOS Knights accounting for more than 66 million transactions. The team is focusing on overcoming the UX challenges of blockchain to create innovative games and applications.

About TRON
TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON, one of the largest blockchain protocols, offers high throughput, high scalability, and high availability for all Decentralized Applications (DApps). The ecosystem is governed by Super Representatives and the community. You can learn more about TRON at www.tron.network.

​​FreeFaucet Offers Crypto Rewards For Viewing Online Content on Its Website

According to the official press release, Online Blockchain plc’s FreeFaucet.io has unveiled ‘impression faucets’ that is a pioneering kind of digital currency faucet. It lets anyone tap into the huge crypto-centric userbase of FreeFaucet and offer them Bitcoin rewards for their content views.

What that means is, all the users of the FreeFaucet website are able to claim free digital currency simply through their 10-second engagement with the projects featured on the site. The users then need to confirm their interaction, post which they receive Bitcoin directly in their online wallet with a single click.

Divulging further details, the announcement said that all the registered users stand a chance to earn up to a hundred Satoshi every twelve hours per impression faucet. In fact, it also lets users make a claim numerous times in a single day from various innovative cryptocurrency faucets available through the site such as External Webfaucets and Geofaucets.

While in conventional online advertising, there are intermediary channels that take away considerable cuts, impression faucets enable the creators of the content to directly pay the persons who are viewing their content. The concept seems to be getting popular as the site has registered more than half a million faucet claims ever since the beta launch that took place in the month of May 2019.

At the same time, the advertisers are certain that they are rewarding the human audience, thanks to FreeFaucet’s powerful anti-bot mechanism. The anti-bot system needs the users to get their accounts verified through gesture verification.

Clem Chambers, Online Blockchain plc’s CEO, expressed that impression faucet is the next major thing in the advertising space. Continuing further, he said that their company is the United Kingdom’s prominent listed blockchain firm already with cryptocurrency applications while FreeFaucet.io is their 1st product to have attained an extensive audience. He was also quoted saying,

We’re very excited by the growth and potential growth of the FreeFaucet website; impression faucets will be a disruptor in advertising, one of the biggest industries there is.

The official press release also revealed that they would add more currencies in the future for the users to claim through impression faucets.

​​Litecoin Foundation’s Loafwallet Joins Hands With Cornerstone Global Management, LLC for Its CP3 Employee Pay Program

The leading cryptocurrency-oriented firm, Cornerstone Global Management, LLC, has announced its partnership with the globally reputed platform, the Litecoin Foundation.

The strategic partnership is aimed at providing the Loafwallet, serving as Litecoin’s native wallet, as the potent Litecoin wallet solution for Cornerstone’s forthcoming employee pay program named CP3 (Crypto Pay & Pension Plan). The highly anticipated project will be unveiled by the company through its website on October 26, 2019, Saturday.

Presently, the Loafwallet supported by the Litecoin Foundation has achieved the milestone of 50,000 downloads from the customers worldwide. It serves as one of the most preferred destinations for Litecoin owners to store their crypto assets. Through the collaboration, Loafwallet has made its position strong in the marketspace by establishing itself as a one-stop solution for users’ everyday requirements.

With the application of the CP3 program, any US-based employee will get a golden opportunity to convert a certain portion of his/her income into any of the three premium crypto coins, namely Bitcoin, Litecoin, and Ethereum at the very point of receiving the pay at his/her will. The converted crypto assets will then be transferred to any of the wallets chosen by the user. This amazing feature will allow the employees to indulge in the goodness of cryptocurrencies without taking the pain of visiting an exchange to receive the assets in their wallets. The smooth functioning of the CP3 program will allow them to immerse themselves in their daily routines without having to bear any tension for their digital assets, similar to fiat currencies.

The Litecoin Foundation community works as a non-profit entity that strives to promote Litecoin for the betterment of the global society through its revolutionary and state-of-the-art blockchain solution. Singapore registered enterprise, Litecoin Foundation is renowned in the crypto niche as one of the most potentially active and ‘real-world adoption’ employing groups.

Charlie Lee, the notable Managing Director of the Litecoin Foundation, shared his overwhelmingness over the team-up by saying that,

Being involved in the CP3 program is great for getting Litecoin and Loafwallet into the hands of as many people as possible. Having some of your pay sent to you automatically in crypto is now a seamless, automatic process, which can bring more applications into the hands of hard-working people throughout the US and beyond.

​​Trump’s Former Federal Reserve Nominee Planning to Unveil a Stablecoin

US President Donald Trump’s former nominee for the Federal Reserve, economist Stephen Moore, is all set to unveil a new stablecoin, according to the reports published on October 21, 2019. The stablecoin, referred to as Frax, is being planned by Moore along with other entrepreneurs namely Ralph Benko and Sam Kazemian. While Benko has served as the deputy general counsel to Reagan, Kazemian is the co-founder of Everipedia.

The reports also revealed that Moore would be serving as Frax’s Chief Economic Officer and co-founder alongside Kazemian. Benko will handle the position of the general counsel at Frax. The co-founders of Frax will apparently make an official announcement soon.

The proposed stablecoin, Frax, would be pegged to the United States Dollars but not in the ratio of 1:1. Its reserve would be given out as loans to generate interest so that Frax value remains close to a dollar. The record of these loans would be kept using the blockchain-based algorithms, eradicating the need to have a central bank.

In his statement to Fortune, Moore said that unveiling digital currency is in alignment with his libertarian views. He also shared his belief saying that crypto is a key alternative to the money backed by the states.

Continuing further, Moore also shared that he has followed the government’s monetary policy for as many as 30 years and all this while, he has been troubled regarding their currency monopoly as it’s unhealthy for the market. According to Moore, it is extremely healthy when private competitors challenge the central banks regarding the monetary supply.

As of now, Frax has not gained support from outside investors, per the reports.

Meanwhile, the FATF (Financial Action Task Force) has expressed its concern regarding the potential illicit usage of stablecoins. The group worries that stablecoin’s possible widespread adoption would easily help criminals break laws through its use.