Bitcoin Cash is ranked at #4 on coinmarketcap, beneath XRP and Ethereum. The price climbed at a rate of 2.06% in the course of the past 24-hours.
Bitcoin Cash is ranked at #4 on coinmarketcap, beneath XRP and Ethereum. The price climbed at a rate of 2.06% in the course of the past 24-hours. This brought BCH all the way up to $304.22 where it presently holds. The trading volume recorded stands at $1.281 billion, while the supply has 18,003,925 BCH coins in play. As of this instant, the total market cap of Bitcoin Cash is $5.477 billion.
If you’re worried about building your business on the #BitcoinCash@SimpleLedger Protocol or even $SPICE specifically, don’t be. In 3 days Spice Casa has already had 3000 bets from only word-of-mouth promotion.
As reported a day ago, an ATM was set up in Venezuela meant to serve hundreds of crypto-enthusiasts. The machine has so far unveiled support for three major digital currencies: Bitcoin, Bitcoin Cash and DASH [which has garnered attention from thousands in Caracas, and other neighboring cities].
Amaury Séchet is a lead developer belonging to the Bitcoin Cash ABC ecosystem. He gave a brilliant speech at the BCH City Conference that was held in Townsville, Australia. While referring to culture, Amaury said that the BCH chain has better products and fundamentals, and has proven to be more useful in comparison to Bitcoin and various other competing projects.
He spoke of the need to focus on infrastructure. His speech was greeted with thunderous applause as he concluded it. You can watch the full 34-minute talk right here:
According to the data obtained from the candlestick chart connected to the BCH/USD pair on tradingview, one can note that the asset is trying its best to heal gradually. The daily RSI rests at 50.24, and the final two tiny peaks [of the Awesome Oscillator] bear the green shade. This point to bullish momentum returning to influence this altcoin.
A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. I have an innate desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.
The Spanish-speaking world sees major cryptocurrency and blockchain developments with Uruguay approving a new bill that could be applied …
The Spanish-speaking world sees major cryptocurrency and blockchain developments with Uruguay approving a new bill that could be applied positively to ICOs, Cuba using crypto to access the global economy and Venezuela finally installing its first Bitcoin (BTC) ATM.
Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph en Español.
Argentinian Bitex stops accepting balance charges in US dollars
Cointelegraph en Español reported on Sept. 12, that the economic crisis in Argentina is now taking its toll on the country’s cryptocurrency operations. The Bitex firm, a blockchain financial services provider, informed its customers that it will stop accepting balance charges in US dollars. It explained:
“We communicate with you to inform you that for reasons beyond Bitex, as of this date, balance charges in US dollars will not be accepted at Bitex Argentina. All transfers in dollars received in Argentina made after this release will be returned to origin with the corresponding charges and taxes discounted. Those users who currently have US Dollars on the platform may request to download the balance and receive them by bank transfer to accounts of their ownership .”
Uruguay approves crowdfunding law that could be applied to ICOs
On Sept. 12, Cointelegraph en Español reported that the government of Uruguay approved a bill to promote entrepreneurship, which will regulate collective financing or crowdfunding platforms, and that could be applied to some ICOs. Lawyer Paula Rodríguez Medalla added:
“Without a doubt, this rule supposes a new legal framework for some ICOs dedicated to collective financing, so it will be essential to be attentive to the regulation that the Central Bank of Uruguay issues on the subject.”
Cuba: The use of crypto is gaining traction and Cubans are turning to BTC to access the global economy
Cointelegraph en Español reported on Sept. 13, that despite the silence of the Cuban government in regards to crypto’s such as Bitcoin, Cubans are increasingly using cryptocurrencies to take advantage of online work, make online purchases, as well as to invest and trade.
Cointelegraph further reported that Bitcoin trading is opening new avenues for citizens in communist-run Cuba, which has been financially isolated for years under a United States trade embargo. Without access to debit or credit cards for international use, cryptocurrency-enabled purchases are a welcome opportunity for consumers. In an interview with U.S. News, local resident Jason Sanchez said cryptocurrencies were “opening new doors” for Cubans.
Venezuela finally installs first Bitcoin ATM
Cointelegraph reported on Sept. 13, that Venezuela had installed its first crypto ATM in the city of San Antonio del Táchira. After multiple false starts, the citizens of Venezuela can now find the country’s first Bitcoin ATM in a small convenience store called Viajes e Inversiones HC. The machine supports cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH) and DASH, as well as the official currency of Venezuela and Colombian pesos.
Venezuela’s largest bank adds support for Petro
In the meanwhile, Venezuela’s largest bank, the Bank of Venezuela (BDV), reportedly added support for the country’s controversial Petro digital currency. BDV clients recently woke up to a new section in their online banking account dedicated to cryptocurrencies. At present, the crypto wallet only caters to Petro, but as the section appears to be still under development, speculation suggests more tokens could follow.
As always, Cointelegraph advises readers to approach news related to the Petro with skepticism, as the Venezuelan government has a history of deception when it comes to the state-run, oil-pegged crypto.
As at 2019-09-14 average Bitcoin Cash price is 306.74999177 USD, 0.02939609 BTC, 1.62742205 ETH. Bitcoin Cash average change within 24 hour …
As at 2019-09-14 average Bitcoin Cash price is 306.74999177 USD, 0.02939609 BTC, 1.62742205 ETH.
Bitcoin Cash average change within 24 hour is 2.89 against USD, 1.42 against BTC, -1.09 against ETH. Weekly report: 2 against USD, 2.99 against BTC, -2.76 against ETH. Monthly report: -3.32 against USD, -5.2 against BTC, -4.15 against ETH.
It’s noteworthy that is issued into circulation Bitcoin Cash.
Bitcoin Cash BCH/BTC on BitAsset exchange is 305.98. The trading volume on BitAsset is 555118.00.
At the same time Bitcoin Cash BCH/BTC on Birake exchange is 305.14. The trading volume on Birake is 47195.00.
Bitcoin Cash BCH/BTC on Whitebit exchange is 305.54. The trading volume on Whitebit is 1139203.00.
Bitcoin Cash BCH/USDT on Piexgo exchange is 306.38. The trading volume on Piexgo is 89770.00.
Bitcoin Cash BCH/USD on Exrates exchange is 305.94. The trading volume on Exrates is 8200549.00.
In this regard, 24 hour trading volume is 730974197.48876000 USD or 70049.82517870 BTC. At the same time Bitcoin Cash market capitalization is 5522496789 USD or $529225 BTC.
There’s a small team of committed researchers and activists called the Ryver Bitcoin Cash group surveying Venezuelans, and giving them educational …
There’s a small team of committed researchers and activists called the Ryver Bitcoin Cash group surveying Venezuelans, and giving them educational resources about the benefits of bitcoin cash. The Venezuelan country has been suffering from rapid inflation and many people distrust the sovereign bolivar. Unfortunately, most Venezuelans are not getting any exposure to digital currency use cases, and according to Ryver’s community manager, Sofia Corona, some people spreading the crypto message are doing it all wrong.
88% of Venezuelan Respondents Don’t Trust Their Currency
This week news.Bitcoin.com spoke with Sofia Corona, the community manager of a Ryver Bitcoin Cash group. Sofia lives in Bogata, Colombia and was attracted to the project because “South American countries have a lot of problems.” The Venezuelan people have been dealing with extreme hyperinflation and central planners have destroyed the economy. Sofia joined the group because of the “bad decisions made by governments” and the team’s work is a form of independence for her.
The group has been surveying 100 or more Venezuelan citizens on a weekly basis and asking them all sorts of questions. “I studied in Venezuela and emigrated from there,” Sofia told our newsdesk. “We started the survey because it is the best research strategy and you can share information shoulder to shoulder with the people and face to face.” So far, news.Bitcoin.com has seen two weeks’ worth of survey responses from 100-150 people living in Venezuela and dealing with hyperinflation.
The first week’s survey was comprised of 100 Venezuelan citizens, surveyed by Sofia and the other team leaders Mr. Tank, Jena, and Jorge. The group visited malls and stores with a lot of foot traffic, specifically in Puerto la Cruz, Maturin, Guayana and Venezuela’s gold mining zones. Survey one shows the “participants do not currently rely on the national circulation currency (bolivar) as a method of savings and investment.”
“This situation is caused by high levels of exposure inflation, which causes rapid loss of consumer purchasing power — In the face of this reality Bitcoin Cash emerges as a necessary alternative, at a time when the country opens the doors to the legalization of cryptocurrencies, an option that would allow supporting the wages and economic assets of the citizens of this country,” the report details. Additionally, out of the first 100 people surveyed, 68% did not know of the existence of cryptocurrencies, while 32% felt they did. A staggering 88% of respondents replied that they do not trust the bolivar.
Inflation and Gold Dealers
Sofia remarked that when people explained they did not trust the bolivar, they smiled when asked about it. “Last year the government printed new cash money — This year nobody can use it or accept it because of inflation and low salaries,” she explained. Sofia also spoke about some pictures she shared of Venezuelans waiting as long as six hours to withdraw 20,000 bolivares cash ($0.94). “The banks have limited the people with restricted amounts by day and they do not have enough printed money to deliver to people, so the lines are huge and people waste a lot of time there,” Sofia, said, adding:
They want this money to pay for bus tickets or sell to miners or the mafia — The mafia will pay you 100% value of cash money — Cash money is scarce.
In Venezuela, gold dealers from the mines run rampant in congested areas like shopping centers. Sofia said there are a lot of gold dealers and they are “everywhere and they have the control of the authorities and cash money.” After hearing about the gold dealers, news.Bitcoin.com asked the Ryver group community manager why her team thinks most Venezuelans are not getting exposure to digital currencies.
The Wrong Strategy
“The Ryver team thinks that the South American strategies to spread cryptocurrency have been wrong so far,” Sofia insisted. “Some spreaders here act like supreme people or want to share this technology like it’s the first world. We have contacted people and specialists to do some live talk forums or activities with people and they have very high costs to share the message. So we took it upon ourselves to go to the streets and talk with the people.” Sofia further stated:
Many of these specialists want to copy strategies used in first world events in this region and have another heritage. We need to resolve simple problems, not have amazing events or restrict some people because they think different, we need it so people can feel the power in their hands. Do not make people feel like you are the owner of the brand or the message.
Sofia continued by explaining that people should educate before giving Venezuelans something they don’t know how to use. “Listen to people’s needs, and try to do things with simple terms — They do not want to know how big BCH blocks are, they want something else besides bad government decisions and bank interest.”
“Share the economic freedom and take the lead by providing them with the knowledge to make their own decisions about the money,” the community manager added. “You can share rocket science with people but it no makes sense if you do not teach them how to turn the power on.”
Sofia also told our newsdesk about the usage of the Venezuelan government’s Petro network as we’ve heard reports from Sunacrip (the Petro’s regulator) that the state-issued crypto is popular. She says that the positive Petro headlines and stories are only for “promotional” purposes. “Nobody uses the petro and only people close with government use it to skip out on U.S. sanctions — Sunacrip is really only for miners — they have installed crypto point-of-sale (POS) systems around some stores, but the POS only accepts bitcoin, litecoin, and BNB, so if you have petros, you need to exchange that,” Sofia asserted.
Genuine Ideas and Helping People Take Control of Their Destiny
Sofia has talked to a lot of people and living in Bogota she’s seen refugees from Venezuela crossing the Simon Bolivar International Bridge daily for goods and services. The community manager said the team is also aware of other projects in Venezuela like nonprofit food drive @eatbch_VE. “They [@eatbch] are a genuine idea and supporters of BCH and we like that we can share their actions, the people need food to think, and to be educated to make their own decisions,” Sofia said.
Following a long discussion with Sofia, she explained what drives her to do what she does. “I believe that we can do something to help the people that have their families far away,” Sofia concluded. “I believe that we can try to build a new way to do things, I believe that the people can take the lead of their destiny, and I will try to help them.”
What do you think about what the Ryver Bitcoin Cash group is doing and Sofia’s efforts? Let us know what you think about this subject in the comments section below.
Image credits: Sofia Corona, the Ryver Bitcoin Cash group, Twitter, and Pixabay.
Venezuela.bitcoin.com is also making strides in Caracas, Maracaibo, and throughout the rest of the Latin American country by bolstering Bitcoin Cash merchant adoption in Venezuela.
In California, cryptocurrency payments are making headway in the cannabis industry as Berkeley City Councilmember Ben Bartlett became the first… read more.
Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.
Bitcoin (BTC) traded up 0.4% against the dollar and now trades at $10,361.62 or 1.00000000 BTC. Ethereum (ETH) traded up 2.8% against the dollar …
PotCoin (CURRENCY:POT) traded up 1.8% against the US dollar during the one day period ending at 10:00 AM Eastern on September 14th. One PotCoin coin can currently be bought for about $0.0071 or 0.00000069 BTC on cryptocurrency exchanges including Poloniex, Bleutrade, CoinExchange and Tux Exchange. PotCoin has a total market cap of $1.59 million and $524.00 worth of PotCoin was traded on exchanges in the last 24 hours. During the last week, PotCoin has traded down 5.7% against the US dollar.
Here’s how other cryptocurrencies have performed during the last 24 hours:
Bitcoin (BTC) traded up 0.4% against the dollar and now trades at $10,361.62 or 1.00000000 BTC.
Ethereum (ETH) traded up 2.8% against the dollar and now trades at $184.23 or 0.01779028 BTC.
Bitcoin Cash (BCH) traded up 2% against the dollar and now trades at $303.29 or 0.02928674 BTC.
Litecoin (LTC) traded up 1.5% against the dollar and now trades at $69.89 or 0.00674926 BTC.
Monero (XMR) traded 2% higher against the dollar and now trades at $75.02 or 0.00724377 BTC.
UNUS SED LEO (LEO) traded 0.5% lower against the dollar and now trades at $1.05 or 0.00010182 BTC.
Ethereum Classic (ETC) traded 0.5% higher against the dollar and now trades at $6.21 or 0.00059975 BTC.
Zcash (ZEC) traded 2.4% higher against the dollar and now trades at $45.43 or 0.00438660 BTC.
Dogecoin (DOGE) traded up 0.7% against the dollar and now trades at $0.0024 or 0.00000023 BTC.
HedgeTrade (HEDG) traded up 0.3% against the dollar and now trades at $0.93 or 0.00008983 BTC.
PotCoin (CRYPTO:POT) is a proof-of-work (PoW) coin that uses the ProofofStakeVelocity hashing algorithm. It was first traded on January 21st, 2014. PotCoin’s total supply is 222,724,250 coins. The official message board for PotCoin is steemit.com/@potcoin. The official website for PotCoin is www.potcoin.com. The Reddit community for PotCoin is /r/potcoin and the currency’s Github account can be viewed here. PotCoin’s official Twitter account is @PotCoin and its Facebook page is accessible here.
PotCoin Coin Trading
PotCoin can be bought or sold on these cryptocurrency exchanges: CoinExchange, Tux Exchange, Cryptopia, Poloniex, Bleutrade, Bittrex and Trade By Trade. It is usually not currently possible to buy alternative cryptocurrencies such as PotCoin directly using US dollars. Investors seeking to trade PotCoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy PotCoin using one of the aforementioned exchanges.
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