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It has been announced that the Marketing Director of Adastra Marketing, Amelie Arras, will look to defend bitcoin’s crown in the upcoming Money20/20 Asia Payments Race. Mrs. Arras is hoping to repeat her performance from last year, where she defeated four other participants to claim victory for bitcoin in the Money20/20 USA Payments Race. Amelie Arras will look to defend bitcoin’s crown in the upcoming Money 20/20 Asia Payments Race, in which Mrs. Arras will attempt to cross Asia solely using BTC. The five-day race is scheduled to commence in Hong Kong on the 10th of March, during which Mrs. Arras will exclusively transact in bitcoin, before arriving at the Money 20/20 Asia Conference in Singapore. “My experience from the previous Payments Race showed me first hand that acceptance at a merchant level is not what I can rely on to win. Instead, I will be using bitcoin for what it was originally designed for, a peer to peer currency. Using the power and enthusiasm of the crypto community, I am determined to win the race again,” Mrs. Arras stated.
Czechs are more inclined to store value in cryptos than in euros, according to a new poll gauging attitudes toward currencies other than the koruna. When asked about their intentions to acquire foreign cash, twice as many respondents said they were interested in buying bitcoin than purchasing US dollars. Like many other nations, which do not have the luxury of emitting a “hard” national currency, Czechs may consider investing some of their savings in foreign, “convertible”, legal tender, like the dollar or the euro. Surprisingly, a new survey shows neither of these two is the number 1 choice for investment. The study, quoted by local media, was conducted among 525 people this month. Czechs are still wary of cryptocurrencies, according to the survey. Nevertheless, cryptos, like bitcoin and ethereum, have become the most popular currencies, when it comes to investment opportunities. Almost 11% of the respondents in an Ipsos poll admitted they were thinking about acquiring digital coins. Fewer Czechs said they would consider buying euros – 10.3%.
There’s never a bad time to be sending and receiving bitcoin, but right now is especially good. Fees are at the lowest in 18 months, with the average transaction value now under a dollar. This contrasts starkly with the latter quarter of last year, when rising fees peaked at $34. There’s a primary reason why fees have been dropping since then: with bitcoin too expensive to send, people simply stopped using it as currency. It’s not just the USD/BTC market that oscillates: bitcoin’s fee market follows suit. Due to various factors ranging from network usage to Segwit adoption and hashrate, fees can rise and fall significantly. Throughout 2017, that trajectory was largely an upward one, culminating, in December, with fees becoming infeasible. Transaction fees have been mercifully declining since then, hitting an 18-month low as of February 21, but given that daily transaction volume has halved in the same period, that’s not surprising. A standard six-block transaction can now be pushed through for as little as 15 cents. Bitinfocharts calculates a median fee of 52 cents, versus just over 1 cent for bitcoin cash. This reduction in transaction fees will not be felt by all bitcoin users however. Anyone withdrawing from an exchange will still be hit with standard fees. Binance and Kucoin, for example, set a flat rate of 0.001 BTC, or around $10.60 at current prices. As Binance CEO Changpeng Zhao pointed out in a recent tweet, though, exchanges have a case for charging above the base rate for the service they’re supplying. Whether they can justify charging upwards of $10 a time is a matter for debate though.
It has always been assumed that a large number of ICOs will fail, be it at the fundraising stage or when it comes to delivering the actual project. It’s hard to settle on a precise figure, however, as most dubious ICOs don’t exit scam: they slowly tiptoe away, like a sneak thief rather than a smash-and-grab robber. Given enough time, everything withers and dies, from the most robust institutions to the most popular crowdsales. No one expected all of 2017’s ICOs to last the course. The pace at which they’ve withered and died may come as a surprise though. Tokendata, one of the more comprehensive ICO trackers, lists 902 crowdsales which took place last year. Of these, 142 failed at the funding stage and a further 276 have since failed, either due to taking the money and running, or slowly fading into obscurity. This means that 46% of last year’s ICOs have already failed. The number of ICOs that are still a going concern is actually even lower. An additional 113 ICOs can be classified as “semi-failed”, either because their team has stopped communicating on social media, or because their community is so small as to mean the project has no chance of success. This means that 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.