Why Winklevoss Twins Fear Investors are Losing Confidence in Crypto

In no way, a centralized entity should be able to gain hold of someone else’s cryptocurrencies. That’s the main logic bitcoin propagated via its original …

The crypto industry is currently going through trust issues, according to Cameron and Tyler Winklevoss.

The Gemini crypto exchange founders, otherwise known as the Winklevoss Twins, said that investors were less confident about investing in cryptocurrencies following the shutdown of QuadrigaCX. The Twins demanded more inputs from the US regulators to make the cryptocurrency market a safer place for investors, stating:

“There are a lot of carcasses on the road of crypto that we’ve seen and learned from. At the end of the day, it’s really a trust problem. You need some kind of regulation to promote positive outcomes.”

QuadrigaCX, once a prominent Canada-based crypto exchange, announced shutdown this December after its chief executive Gerald Cotten died unexpectedly with the keys of $194 million crypto wallets. The company eventually lost clients’ funds in excess which, per the Winklevoss Twins, is what rattled potential crypto investors.

Better oversight, they said, would attract more investors and would further set bitcoin to the path of a long-awaited price recovery.

Twins Miss the Point

While the Twins could be right about strict oversight attracting big investors, as also covered by NewsBTC earlier, there is no evidence that QuadrigaCX fiasco could initiate a new negative trend. With trust, the Twins want to imply that QuadrigaCX would eventually undo crypto adoption as a whole. Instead, their focus should be more on educating crypto users about protecting their assets from potential hacks. Because, indeed, hacks do not discriminate between regulated or unregulated exchanges.

And they got rich within an unregulated crypto environment. Socialism. Hypocrisy.

— AR (@AR99092110) March 11, 2019

The reason why QuadrigaCX users lost funds was that they handled control of their assets to the exchange. In no way, a centralized entity should be able to gain hold of someone else’s cryptocurrencies. That’s the main logic bitcoin propagated via its original whitepaper. Centralized exchanges never did enough to reduce counterparty risk. Since Mt. Gox, the crypto industry suffered plenty of hacks, leading to the loss of billions of dollars worth of crypto assets. The hacked platforms included BitStamp ($1.43 billion), BitFinex ($900 million), BitGrail ($170 million), CoinRail ($40 million), amongst others.

In all the cases, crypto traders trusted exchanges to store their money. Nevertheless, all of them failed to provide careful custodianship. These exchanges continue to control users’ assets, and that is where the core problem lies.

Control is Confidence

The rising number of decentralized exchange projects (DEX) indicate that – in the future – traders would gain 100% control of their crypto assets. Also, these exchanges would practically do the job of a centralized exchange but without designating power to a single party. That includes everything from capital deposits, order books, order matching, and asset exchange.

Nevertheless, DEX would need to catch up when it comes to handling a large number of volumes and supporting features like stop loss and margin trading. And for active traders, centralized exchanges will remain a go-to option. However, the best they can do to ensure utmost protection is to keep only a small part of their holdings on their public wallet.

While a stricter regulatory framework, as the Winklevoss Twins, would still be useful, one cannot risk exposing their funds to lengthy court procedures in the event of a hack.

Not your keys, not your bitcoins.

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GXChain Market Capitalization Tops $55.25 Million (CRYPTO:GXC)

Tezos (XTZ) traded up 2.4% against the dollar and now trades at $0.46 or 0.00011733 BTC. Apex (CPX) traded down 1.7% against the dollar and now …

GXChain logoGXChain (CURRENCY:GXC) traded 4.1% higher against the US dollar during the 24 hour period ending at 21:00 PM ET on March 5th. One GXChain coin can currently be bought for $0.92 or 0.00023582 BTC on popular exchanges including Gate.io, DragonEX, QBTC and Bit-Z. GXChain has a total market capitalization of $55.25 million and approximately $8.96 million worth of GXChain was traded on exchanges in the last day. During the last seven days, GXChain has traded 39.8% higher against the US dollar.

Here’s how similar cryptocurrencies have performed during the last day:

  • Tezos (XTZ) traded up 2.4% against the dollar and now trades at $0.46 or 0.00011733 BTC.
  • Apex (CPX) traded down 1.7% against the dollar and now trades at $0.0082 or 0.00000209 BTC.
  • Smoke (SMOKE) traded flat against the dollar and now trades at $0.0444 or 0.00001179 BTC.
  • DAPPSTER (DLISK) traded flat against the dollar and now trades at $0.0004 or 0.00000006 BTC.
  • Tezos (Pre-Launch) (XTZ) traded down 16.1% against the dollar and now trades at $3.26 or 0.00049283 BTC.

About GXChain

GXC uses the hashing algorithm. It was first traded on March 4th, 2017. GXChain’s total supply is 99,613,552 coins and its circulating supply is 60,000,000 coins. GXChain’s official Twitter account is @gongxinbao and its Facebook page is accessible here. The official message board for GXChain is forum.gxb.io. The Reddit community for GXChain is /r/gxs and the currency’s Github account can be viewed here. The official website for GXChain is gxs.gxb.io/en.

Buying and Selling GXChain

GXChain can be traded on the following cryptocurrency exchanges: QBTC, DragonEX, OTCBTC, Binance, Huobi, Gate.io, Bit-Z and BigONE. It is usually not possible to buy alternative cryptocurrencies such as GXChain directly using U.S. dollars. Investors seeking to trade GXChain should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy GXChain using one of the exchanges listed above.

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Gemini Dollar (GUSD) Achieves Market Capitalization of $72.64 Million

Gemini Dollar (CURRENCY:GUSD) traded up 0.5% against the U.S. dollar during the one day period ending at 20:00 PM ET on March 12th. Gemini …

Gemini Dollar (CURRENCY:GUSD) traded up 0.5% against the U.S. dollar during the one day period ending at 20:00 PM ET on March 12th. Gemini Dollar has a total market capitalization of $72.64 million and $3.10 million worth of Gemini Dollar was traded on exchanges in the last day. During the last seven days, Gemini Dollar has traded 1.6% higher against the U.S. dollar. One Gemini Dollar token can now be purchased for approximately $1.02 or 0.00026099 BTC on exchanges including HitBTC, Bibox, DEx.top and The Rock Trading.

Here’s how related cryptocurrencies have performed during the last day:

  • XRP (XRP) traded down 0% against the dollar and now trades at $0.31 or 0.00007951 BTC.
  • Binance Coin (BNB) traded 6.2% higher against the dollar and now trades at $15.36 or 0.00392948 BTC.
  • Tether (USDT) traded 0.1% lower against the dollar and now trades at $1.01 or 0.00025799 BTC.
  • Stellar (XLM) traded up 3.4% against the dollar and now trades at $0.10 or 0.00002676 BTC.
  • TRON (TRX) traded 1.1% higher against the dollar and now trades at $0.0224 or 0.00000574 BTC.
  • Bitcoin SV (BSV) traded up 1.1% against the dollar and now trades at $65.93 or 0.01686804 BTC.
  • NEO (NEO) traded 2.1% higher against the dollar and now trades at $8.95 or 0.00228954 BTC.
  • VeChain (VET) traded up 15% against the dollar and now trades at $0.0053 or 0.00000134 BTC.
  • Basic Attention Token (BAT) traded up 2.8% against the dollar and now trades at $0.20 or 0.00005024 BTC.
  • TrueUSD (TUSD) traded down 0.2% against the dollar and now trades at $1.01 or 0.00025897 BTC.

Gemini Dollar Token Profile

Gemini Dollar launched on September 9th, 2018. Gemini Dollar’s total supply is 71,213,675 tokens. The official message board for Gemini Dollar is gemini.com/blog. The Reddit community for Gemini Dollar is /r/Gemini and the currency’s Github account can be viewed here. Gemini Dollar’s official Twitter account is @GeminiDotCom. Gemini Dollar’s official website is gemini.com/dollar.

Buying and Selling Gemini Dollar

Gemini Dollar can be traded on the following cryptocurrency exchanges: HitBTC, DEx.top, The Rock Trading and Bibox. It is usually not currently possible to buy alternative cryptocurrencies such as Gemini Dollar directly using US dollars. Investors seeking to trade Gemini Dollar should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Gemini Dollar using one of the exchanges listed above.

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Smart Bitcoin (CRYPTO:RBTC) Reaches 1-Day Volume of $1474.00

One Smart Bitcoin coin can now be bought for approximately $3,508.72 or 0.96225112 BTC on cryptocurrency exchanges including Bitfinex and …

Smart Bitcoin (CURRENCY:RBTC) traded 4.2% lower against the U.S. dollar during the 24 hour period ending at 19:00 PM Eastern on February 18th. One Smart Bitcoin coin can now be bought for approximately $3,508.72 or 0.96225112 BTC on cryptocurrency exchanges including Bitfinex and Huobi. In the last week, Smart Bitcoin has traded 20.8% lower against the U.S. dollar. Smart Bitcoin has a market capitalization of $0.00 and $1,474.00 worth of Smart Bitcoin was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

  • XRP (XRP) traded down 0.2% against the dollar and now trades at $0.31 or 0.00007943 BTC.
  • Binance Coin (BNB) traded up 6.6% against the dollar and now trades at $15.43 or 0.00394517 BTC.
  • Stellar (XLM) traded up 3.1% against the dollar and now trades at $0.11 or 0.00002688 BTC.
  • Tether (USDT) traded 0.2% lower against the dollar and now trades at $1.01 or 0.00025761 BTC.
  • TRON (TRX) traded 0.9% higher against the dollar and now trades at $0.0225 or 0.00000574 BTC.
  • Bitcoin SV (BSV) traded 1.1% higher against the dollar and now trades at $66.00 or 0.01687372 BTC.
  • NEO (NEO) traded up 1.1% against the dollar and now trades at $8.89 or 0.00227298 BTC.
  • VeChain (VET) traded 17.4% higher against the dollar and now trades at $0.0054 or 0.00000137 BTC.
  • Basic Attention Token (BAT) traded up 0.7% against the dollar and now trades at $0.19 or 0.00004954 BTC.
  • TrueUSD (TUSD) traded 0.1% lower against the dollar and now trades at $1.01 or 0.00025889 BTC.

Smart Bitcoin Coin Profile

Smart Bitcoin’s total supply is 20,999,764 coins. The official website for Smart Bitcoin is rsk.co. Smart Bitcoin’s official Twitter account is @rsksmart. The Reddit community for Smart Bitcoin is /r/rootstock and the currency’s Github account can be viewed here.

Buying and Selling Smart Bitcoin

Smart Bitcoin can be traded on the following cryptocurrency exchanges: Huobi and Bitfinex. It is usually not presently possible to purchase alternative cryptocurrencies such as Smart Bitcoin directly using US dollars. Investors seeking to acquire Smart Bitcoin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Smart Bitcoin using one of the exchanges listed above.

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IOStoken (IOST) Price Hits $0.0396

One IOStoken token can now be purchased for $0.0396 or 0.00000526 BTC on popular cryptocurrency exchanges including Ethfinex, Koinex, …

IOStoken logoIOStoken (CURRENCY:IOST) traded down 0.3% against the dollar during the one day period ending at 18:00 PM Eastern on March 12th. One IOStoken token can now be purchased for $0.0396 or 0.00000526 BTC on popular cryptocurrency exchanges including Ethfinex, Koinex, Cobinhood and Kucoin. IOStoken has a market cap of $332.92 million and approximately $16.00 million worth of IOStoken was traded on exchanges in the last day. Over the last seven days, IOStoken has traded 20.7% lower against the dollar.

Here’s how similar cryptocurrencies have performed over the last day:

  • Maker (MKR) traded down 0.1% against the dollar and now trades at $658.47 or 0.16838813 BTC.
  • THETA (THETA) traded 17.6% lower against the dollar and now trades at $0.12 or 0.00003193 BTC.
  • Pundi X (NPXS) traded down 0.4% against the dollar and now trades at $0.0006 or 0.00000016 BTC.
  • Aurora (AOA) traded up 4.4% against the dollar and now trades at $0.0154 or 0.00000394 BTC.
  • Huobi Token (HT) traded 5.4% higher against the dollar and now trades at $1.85 or 0.00047272 BTC.
  • IOST (IOST) traded 0.6% higher against the dollar and now trades at $0.0075 or 0.00000191 BTC.
  • Project Pai (PAI) traded 4.1% lower against the dollar and now trades at $0.0584 or 0.00001494 BTC.
  • MCO (MCO) traded up 2.8% against the dollar and now trades at $4.39 or 0.00068464 BTC.
  • Oyster (PRL) traded flat against the dollar and now trades at $0.51 or 0.00008001 BTC.
  • Nebulas (NAS) traded up 6% against the dollar and now trades at $0.83 or 0.00021127 BTC.

About IOStoken

IOST is a token. Its launch date was January 20th, 2018. IOStoken’s total supply is 21,000,000,000 tokens and its circulating supply is 8,400,000,000 tokens. The Reddit community for IOStoken is /r/IOStoken and the currency’s Github account can be viewed here. IOStoken’s official Twitter account is @IOStoken and its Facebook page is accessible here. IOStoken’s official website is iost.io. IOStoken’s official message board is medium.com/@iostoken.

Buying and Selling IOStoken

IOStoken can be purchased on these cryptocurrency exchanges: Huobi, Binance, IDAX, GOPAX, Bitkub, CoinBene, Bitrue, BitMart, GBX Digital Asset Exchange, Vebitcoin, Coineal, OTCBTC, DragonEX, Zebpay, ABCC, CoinZest, WazirX, Koinex, DDEX, BigONE, Kucoin, Hotbit, Livecoin, Upbit, DigiFinex, HitBTC, IDEX, Kyber Network, BitMax, Cobinhood, Ethfinex, OKEx and Bithumb. It is usually not presently possible to buy alternative cryptocurrencies such as IOStoken directly using US dollars. Investors seeking to acquire IOStoken should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy IOStoken using one of the aforementioned exchanges.

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