‘The Buy In’ is a new TV show focused on crypto and blockchain. Teams will be competing in a “Shark Tank” style competition to get their ICOs funded – and you get to be one of the sharks. That’s right, in true decentralized form, anybody watching the show will be able to participate in the outcome of the competition and can have a stake in the winning ICO. Seven teams will be competing to show off their ICOs and the power of blockchain behind the project. Over the course of five weeks, one team will be eliminated each week until there are two teams left; the winner is then chosen. Don’t worry; you won’t be making the decisions completely alone. There will be a panel of five blockchain/crypto experts there to help you decide. The panel decides which team goes home each week and who the ultimate winner will be. It is still unclear at this point how much the viewer’s opinion will come into play regarding who is eliminated and who wins. However, in week 4, the viewers will be able to participate in choosing what the teams must do to progress in the competition. In the end, the winning team will be awarded up to 1 million seed tokens, 50% of which will be issued when the ICO goes live.
Ripple price (XRP) rose significantly in the last two weeks amid its penetration in the financial sector; the price is now struggling to extend the momentum. What’s going on? XRP price dipped for the fourth straight session on Wednesday, and the price plunged below $103. There was no particular event or market report that could change the bullish trend; the downside movement signifies a major price correction – possibly the end of the Bull-Run. Bulls had pushed ripple and other cryptocurrency prices in the last two weeks, with the reports of softer regulatory actions from the United States and South Korea. Along with the support from a broader rally in digital currency prices, stronger confidence from payment services companies and banks added to the growth in XRP price. Ripple has achieved several milestones in the past two weeks, including the partnership with Saudi Central Bank for internal and cross-border payments. The dip in cryptocurrency prices shows that investors are trying to capitalize on the gains they had generated in the last two weeks.
Bitcoin’s bull run failed to break the resistance level of $12000; BTC fumbled for the second straight day and wiped almost $1800 off in the last two days alone – investors are now looking for the new support level. It seems more bearish comments may have a part to play in the current selloff – Bitcoin found the bottom around $6000 after shedding more than 70% of its value. Though South Korea has announced its support of cryptocurrencies, pessimistic comments from England and the arrest of BitFunder founder Jon Montroll in the United States raised traders concerns. Is this affecting bitcoin price? Bitcoin trades just over the $10,000 mark today, while Ripple and others are declining at a quick rate. U.S. regulators had announced their support of legal cryptocurrency trading when they met with the U.S. Senate banking committee early this month. However, the regulators had proclaimed that they will not let illegal activates through cryptocurrency trading. The U.S. regulators were found steadfast in their claims. The U.S. Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI) arrested Jon Montroll, who is the owner of bitcoin-denominated stock exchange, BitFunder.
Crypto is often getting ragged on for being a gateway towards crime. Today, however, I’d like to recognize some of the good that crypto can do. Today, the LGBT Foundation revealed that it will be using blockchain technology to drive equality throughout the global LGBT community – new token will be called the Pink Dollar.
The LGBT economy, or Pink Economy, will be tokenized by the LGBT Foundation to push for positive social change, protect vulnerable members of the community, and showcase the economic drive of the LGBT community.
Started by Hornet Networks, the LGBT Foundation will harness the power of the Pink Economy to provide a safe and secure environment for accessing crypto and blockchain assets. The Pink Dollar will help to connect LGBT businesses across the globe and establish an economic identity for the community.
The United Kingdom seems to have taken a firm stance on the cryptocurrency sector and It doesn’t appear to be a good one. At first, it was just Prime Minister Theresa May stating that cryptocurrencies require more regulation, adding that the UK Treasury plans to set new rules in order for that to happen. That wasn’t too bad considering the UK isn’t the only country pulling for more regulation. Except then today happened. Now, it appears the UK has an even stronger opinion on cryptocurrencies. Strong enough to launch an inquiry into the industry. Earlier today, the U.K Treasury disclosed that it will be orchestrating an inquiry into various issues that surround both cryptocurrency and the technology behind it, blockchain. To no surprise, the investigation conducted by the U.K. Treasury Committee will be looking into the risks cryptocurrencies open up to consumers, as well as a number of other issues. I’m not shocked that ‘risks’ are one of the issues planning to be discussed. It’s been known for a while that cryptocurrencies like Bitcoin are extremely vulnerable to illegal activity, such as money laundering.