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February 2015

SBI Delists Bitcoin Cash | Keeps Support for Bitcoin SV

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SBI Delists Bitcoin Cash

SBI Delists Bitcoin Cash

In a potentially rebellious move, major Japanese financial services company, SBI Holdings, announced it is delisting Bitcoin Cash (BCH) from its digital currency exchange. Let’s check this out.

SBI Delists Bitcoin Cash (BCH)

Yesterday, we covered the controversy surrounding the delisting of Bitcoin SV (BSV). Specifically, the world’s largest cryptocurrency exchange, Binance, announced yesterday that it will delist this crypto effective April 22nd.

The move comes as a retaliation against the actions of BSV creator Craig Wright (more on that to follow).

But today, tables are turning somewhat as major Japanese financial services company, SBI Holdings, is holding onto Bitcoin SV, but is delisting Bitcoin Cash (BCH). BCH’s departure from the exchange will happen in June, and the exchange will keep support for BSV.

So What is Going On?

As with all things cryptocurrency, there are complications. Bitcoin Cash is the first hard-fork of the leading and original cryptocurrency Bitcoin (BTC) and was created in August 2017. Bitcoin SV, then, is a hard fork of Bitcoin Cash and was created by Craig Wright—who controversially claims that he is the creator of the original Bitcoin.

Wright’s proclamation that he is the person behind the pseudonym Satoshi Nakamoto has disrupted the cryptosphere. So much so, that several major crypto trading platforms have followed in Binance’s footsteps and chosen to also delist BSV. A #DelistBSV hashtag has even begun trending throughout social media.

SBI Holdings to the Rescue

Now, SBI Holdings has come to BSV’s defense in a move that is bound to divide the cryptocurrency universe further. Reports from Cointelegraph suggest that the CEO of the financial giant, Yoshitaka Kitao, has a personal connection with Wright. A past Tweet of Wright’s stated that Kitao is “a friend and man I respect a lot.”

>> FBCoin: Facebook Set to Launch Its Own Cryptocurrency Coin

A Split Market?

With SBI ousting Bitcoin Cash, it’s hard to know where the market will go next. Will we start to see an exchange split across the globe? Team BSV vs team BCH?

Despite the news, Bitcoin Cash is climbing in value—up nearly 6% in the past 24-hours, trading at approximately $314 USD.

BSV has crashed this week on the back of the delisting controversy. While SBI’s move may help to rescue Wright’s pride, it hasn’t been able to rescue the coin’s value. BSV is currently down more than 21% on the day, trading for $55 USD according to CoinMarketCap.

What team are you on?

Featured Image: DepositPhotos © sirichaiDeposit

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Ripple (XRP) Soars 18% | Binance Futures Launches XRP/USDT Contract

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Ripple

Ripple

Even when the crypto space enjoyed a sustained rally in the first of 2019, XRP seemed to lag behind considerably, and much of the blame for that had been placed at the door of the company Ripple. However, things seemed to have gone off to a rather good start for XRP in 2020, after it surged considerably over the past two days.

While it is true that there were gains in the wider cryptocurrency space, it should be pointed out that XRP emerged as the biggest gainer in the market and surged by as much as 18% since Monday—and, there seems to be one very specific reason why XRP is climbing.

Key Drivers

As everyone knows, the rise in the price of a cryptocurrency is directly related to the number of exchanges in which its trading pairs exist. In that regard, XRP got a major boost recently. In a fresh development, Binance announced that that it is going to introduce a new trading pair involving the stablecoin Tether and XRP. Considering the fact that Binance is the biggest crypto exchange in the world, it is a big deal for XRP, and it can be said that the tide has turned a bit for Ripple.

One of the most important aspects of XRP is that it is a cryptocurrency with a genuine use case, and while Ripple has signed up many clients for pilot tests, last year, it reached a formal deal with Moneygram.

>> Bitcoin Set for Breakout Amid Escalating Iran Tensions

The aim of the deal was to speed up the remittance process for Moneygram, and on Monday, a report confirmed that the usage of XRP has sped up that process considerably. It has been revealed that between December 1 and December 25, the number of transactions completed by Moneygram soared considerably. The transaction volume rose by as much as 70% year-on-year, and that reflects the effectiveness of the Ripple products.

Featured image: DepositPhotos © rastudio

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Moon Payment Means You Can Shop on Amazon Using Bitcoin!

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Moon Payment

Moon Payment

If you want to buy things on Amazon using Bitcoin, you now can. All you need is the Bitcoin lightning network and crypto payment processing startup Moon.

In time, the service will extend to many e-commerce sites also, not just Amazon. Let’s check this out.

Moon Payment Processing

The startup announced today that any lightning-enabled wallet can now be used through Moon’s browser extension.

Before this, the service could be used by connecting the browser extension to exchange accounts like Coinbase.

According to Moon CEO Ken Kruger, it works like this:

“[The extension] will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favorite lightning wallet.”

Moon Payment and Amazon

Customers should note that Amazon has nothing to do with the Bitcoin payment. The conversion from Bitcoin to fiat currency is taken care of behind the scenes by an unspecified third party.

Therefore, Amazon merchants receive fiat currency and never have to deal with Bitcoin, but the user gets to use Bitcoin as he/she so wishes. Kruger maintains that the lightning-enabled feature should work on almost any e-commerce site by 2020 as “there’s no direct merchant integration.”

This is also regardless of whether that platform accepts Bitcoin directly.

Aside from Bitcoin, Moon also manages payment channels, offering an interface for sending payments. As Kruger furthered:

“We’re integrating with the Visa and Mastercard networks and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction.”

>> Cryptocurrency Bear Market Wanes: Going through Accumulation

Moon Payment Processing Start-Up

Founded in New York last year, Moon is looking very promising. Born of a $100,000 investment, the company has already come quite far and is now looking for a Series A funding round in 2019.

Further, the company is looking for “opportunities to help solve some of those usability problems” and to “engage with other folks in the lightning community to see what people are doing, what they’re working on and if there are any significant gaps. We’d love to step in and help whenever possible.”

What do you think? Would you use Moon to buy your wares on Amazon?

Featured Image: DepositPhotos © belchonock

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