MoneyGram announces partnership with Visa

Ripple even invested millions in MoneyGram, but the company just … that would use Ripple’s decentralized products and the XRP cryptocurrency.
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MoneyGram announces partnership with Visa: Did Ripple stand aside?
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February 17, 2020

MoneyGram is one of Western Union’s competitors and a major partner of Ripple. The company competes for leadership in the international securities transactions sector. Ripple even invested millions in MoneyGram, but the company just announced a partnership for a new product … with Visa.

The international trading giant has announced a new service that allows the transfer of values ​​in real time. But the new partnership does not include Blockchain technologies, let alone Ripple, Moneygram’s longtime partner.

According to CoinTelegraph the new service is called FastSend and allows customers to send money to a phone number through a website or a mobile application.

Kamila Chytil, COO at MoneyGram, explained to the website that FastSend uses Visa’s Direct Original Credit Transaction to transfer funds between banks through credit card deposits.

The new product drew the attention of those who follow the partnership between Ripple and MoneyGram, because Ripple invested heavily in the transfer company so that it could create solutions that would use Ripple’s decentralized products and the XRP cryptocurrency.

How to buy XRP in Brazil

Ripple is working to become a common solution for transferring values ​​cheaper and faster than on traditional platforms. Interestingly, before being partners, Ripple and MoneyGram were competitors.

Did MoneyGram abandon Ripple?

It is possible to find people commenting that this is a sign that MoneyGram “laughed in the face” of Ripple when using a competitor of the platform in its new product. But Kamila Chytil ensured that decentralized and blockchain solutions are still present at the company and that they are widely used on the company’s backend.

“Today MoneyGram is using Ripple’s On Demand Liquidity, which allows our company to transact at the corporate level using XRP. It is a back-end financial function that is not ideal for consumers. Technology is helping us to solve most of the costly and time-consuming process problems, reducing the amount of money the company needs to be around the world, which eventually reduces the necessary movement capital. ”

MoneyGram’s COO broadly praised the Distributed Ledger technology and added that the company believes that Blockchain will be the future of cross-border payments worldwide.

See also: Trump and FED could impact Bitcoin price

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65 Mln XRP Wired Between Unregistered Wallets, While Reddit Discusses XRP Scam

Ripple’s XRP is the third-largest coin on the cryptocurrency market. Along with BTC and ETH, it is often used by scammers. Recently, the analytical …

Ripple’s XRP is the third-largest coin on the cryptocurrency market. Along with BTC and ETH, it is often used by scammers. Recently, the analytical website Bithomp published a memo about a new XRP airdrop. Reddit users are discussing this move, calling it a scam that hunts for the seed phrases to their wallets.

Meanwhile, The XRPL Monitor page has detected several transfers that moved around 65 million XRP between unknown wallets. Part of it was moved between BitPay addresses.

Crypto scam that offers XRP

On the Bithomp website, where it tracks XRP transactions, it recently published a note that as of February 1, Ripple has released ‘3 bln XRP to incentivize network users’.

Tiny amounts of XRP have been spread since then. The name of the website where users are expected to get their XRP is called claimRipple.com. A Reddit user says that you are expected to provide your address and a seed phrase to claim your XRP, claiming it is a scam.

The Redditor says:

“I follow the website, which can be found in TX json. The website will redirect you to ripple website with an “ẹ” (notice the . ). They copied the real ripple website and include a news about 3 billion XRP will be release to individual XRP holder. They provide a link to bithomp website with an “ȯ” (notice the . ). You will need to provide the passphrase or address to receive free XRP.

This is what this airdrop and link do. IT’S A SCAM!!!”

Bithomp has labeled these XRP airdrops with ‘Fraud Alert’.

XRP scam

Image via Bithomp
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65 mln XRP transferred, BitPay involved

XRPL Monitor, The XRPL Monitor Twitter page, has shared some data on three large XRP transactions, totaling 65 mln XRP. Two of them came one after the other and transferred 44 mln XRP between anonymous crypto wallets.

XRP wired

Image via Twitter

The third transaction sent 21 mln XRP between wallets of the BitPay crypto payments platform.

Transaction Type: Payment

Amount: 21,035,288.360774 XRP

Fee: 45 drops (0.000045 XRP)

Sender: rs4JXmi79rS4fGvPc6weLVRazmSZ52VbKi

Sender Balance: 5,044.999955

Receiver: rHjXPaX3U65HV1UhuMvZAbnR7Z4kww2naG

Receiver Balance: 21,347,302.571246

Link: https://t.co/kbFLbWz4F2

— XRPL Monitor (@XRPL_Monitor) February 20, 2020

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Ripple Says Microsoft, BitGo and Bitso Powering XRP Ledger, Updates Total Cryptocurrency …

Ripple has updated key stats on the amount of XRP it holds as well as which companies are helping to power the network. As of February 9th, 2020, …

Ripple has updated key stats on the amount of XRP it holds as well as which companies are helping to power the network.

As of February 9th, 2020, the San Francisco payments company says it has 49,700,000,013 XRP worth about $13.8 billion left in its cryptographically secured escrow accounts. The company placed 55,000,000,000 XRP in escrow back in late 2017, executing a monthly schedule that releases 1 billion XRP and makes the funds available for the company to sell.

Ripple says the escrow process is designed to give investors a way to track the company’s XRP holdings.

“Since 2012, Ripple has methodically sold XRP and used it to incentivize market maker activity to increase XRP liquidity and strengthen the overall health of XRP markets… By securing the lion’s share of XRP, people can mathematically verify the maximum supply of XRP that can enter the market.”

In the fourth quarter of 2019, the company says it sold a total of $13.8 million in XRP to institutions over the counter, while selling zero XRP on crypto exchanges.

Meanwhile, Ripple says Microsoft remains the most high-profile XRP Ledger validator processing transactions on the network.

The US-based digital asset trust company BitGo and Mexico-based crypto exchange Bitso are two of the newest enterprises contributing to the network. CGI, Berkeley Haas, Telindus, University of Tokyo, GateHub, WorldLink, Bahnhof and Flagship are also running validators, according to Ripple.

Ripple powers 17.1% of the ledger’s top-tier validators. In the long run, the company says it plans to detach itself from the process of deciding which entities are the most trusted on the network.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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2020 Crypto Market Prediction – Cryptos to Watch Out For

Although some new players were introduced to the battle field in form of Binance Coin (BNB), Tezos (XTZ) and Chainlink (LINK), that outperformed …

It would be fair to say that this year has been the continuation of bear market for almost all of the altcoins. Although some new players were introduced to the battle field in form of Binance Coin (BNB), Tezos (XTZ) and Chainlink (LINK), that outperformed every digital asset even the ‘Crypto Goliath’, bitcoin. But just before we look ahead and predict the course of the crypto market as we take a dive into a new decade, it would not be fair to overlook the path crypto market took in 2019.

Crypto Market 2019 Journey

Bitcoin started 2019 with a marketcap of $66.3 billion and was lurking around $3800. Currently, the most sought after digital asset is valued at $7,381 with a market cap of $133.8 billion. Since bitcoin gained an impressive 95% in 2019…

Crypto Market 2019 Journey

On the other hand, altcoins crypto winter continued and the assets plunged to extreme lows. The second largest crypto by marketcap Ethereum suffered once again this year and the digital asset will step in 2020 at the same place where it started 2019 and that is around $130. In July 2019, Ethereum peaked at $350 but the digital asset slipped back to where it started the year.

Ripple (XRP), the cross border transfer token is the worst performer in the crypto arena of 2019. The digital asset stands where it stood 2 years ago! Once considered the crypto rock star (which is indeed debatable), XRP lost almost 95% from its all-time high.

On the other hand Litecoin (LTC) had quite a roller coaster ride in 2019. Regarded as the ‘Digital Silver’ (with bitcoin being the Digital Gold), the crypto asset is lurking around $43 and is back where it started the year. The crypto asset experienced ‘Halving’, where the reward for crypto miners was halved to keep a check on inflation, and its price surged to $145 but that was sadly the only highlight for LTC in 2019.

Stellar (XLM) shared the same fate as XRP in 2019 as the crypto lost almost 60% and stretched its bear run to 2 years now. Other top cryptos like TRON, EOS, Cardano, Monero and bitcoin’s fork Bitcoin SV more or less will finish the year same as where they all started.

Cryptos to Look Out for In 2020

Binance Coin (BNB) was undoubtedly the highest performing digital asset for 2019. BNB, a utility token from one the world’s largest crypto exchange experienced a price surge of 560% in the first half of the year. Analysts suggested that the performance of the token can be attributed to the fact that Binance was open and transparent about $41.5 million bitcoin hack.

The company informed its investors as soon as they assessed the damage done by the attack. Just days after the attack, CEO and founder Changpeng Zhao held an Ask-Me-Anything session on reddit. On the other hand Binance launchpad IEO’s produced more than 600% returns as the exchange took most of the limelight in 2019.

Tezos was the other performer of 2019 with a surge of 185% since January 1st. Major exchanges offering staking rewards has driven XTZ prices making it one of the best performing altcoins of the year.

Ever since Facebook announced its Libra crypto, the crypto market was much hyped and a buzz but regulators came hard on Libra and hearings at Capitol Hill have immensely put the project in jeopardy.

While talking to Bloomberg, Blockchain Capital General Partner, Spencer Bogart gave an insight to survey conducted by his company he said;

“There are two factors to the halving represents a shelling point. There is a significant sum of capital that is in that position. we run a survey every 18 months that surveys more than 2000 american adults.

One of the things we ask is kind of questioning their conviction. We ask, what extent do you agree or disagree that most people will be using bitcoin within the next 10 years. In the spring of 2019 when we asked this, 33 percent of people and 43% of those 18 to 34 said they somewhat or strongly agree. We also asked them about their propensity to purchase. How likely are you to buy bitcoin in the next five years? 33% of those 18 to 34 said they are very or somewhat likely to buy in the next five years.

People are relatively indifferent as to whether they purchase today or tomorrow. It drives more purchasing. importantly, this reflexive feedback loop drives the bitcoin market where rising price drives more infrastructure, more computing power secure in the network. All of which feeds into a rising price”

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Crypto Analyst’s Meta 2020 Bitcoin Prediction Goes Viral – BTC, Ethereum, Ripple, XRP Newsflash

From Bitcoin prediction inception to new ATM support for XRP, here’s a look at some of the stories breaking in the world of crypto. Bitcoin. With about …

From Bitcoin prediction inception to new ATM support for XRP, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

With about four and a half months to go until Bitcoin’s next halving, predictions on whether the event will impact the price of BTC are getting extremely meta.

Crypto analyst Jacob Canfield posted a viral prediction on the halving, which will slash the amount of BTC miners earn for powering the network in half, further slowing the supply of new Bitcoin entering the market.

According to Canfield’s tongue-in-cheek argument, the halving is so well-known, priced in and predictable that it’s actually no longer priced in at all.

The halving is priced in so much that it’s actually not priced in and no one is buying bitcoin except the smart money who knows it’s not priced in who has convinced everyone else it is priced in so when the halving occurs and price is skyrocketing no one will be holding bitcoin

— Jacob Canfield (@JacobCanfield) December 28, 2019

Adaptive Capital analyst Willy Woo is offering an interpretation of Canfield’s hypothesis. He says it’s naive to think market prices are always a perfect reflection of all available information.

“Translation: While the public believe in efficient market theory and that markets perfectly price in all available information. Market traders know the price chart is a war of strategy and fuckery designed to make the most money for the best players.”

As for his current take on BTC’s trajectory, Canfield says he thinks Bitcoin will likely dip lower in January.

“Longing $6700-6800 in January will be a good deal. I was hoping for $5500, but not sure we get there. Not sure we see much lower for a while after that. Will revise if the context of the market changes, but that’s what I’m seeing so far.”

Meanwhile, Woo recently said he thinks Bitcoin’s on-chain metrics indicate a long-term bull run is on the horizon.

Ethereum

A new Ethereum hard fork is upon us.

The Muir Glacier upgrade will delay implementation of Ethereum’s so-called difficulty bomb for more than a year. The move is designed to ensure miners are incentivized to stay on board as the platform switches to its new proof-of-stake consensus model.

The latest stats on Ethernodes indicate about 66% of node operators are currently prepared for the update, which is set to happen on January 2nd.

Glad that everyone is ready for the #Ethereum hard-fork on New Year’s Day. 😂 pic.twitter.com/UNWiacA6MQ

— samson.btc (@Excellion) December 29, 2019

Ripple and XRP

The crypto ATM company General Bytes says XRP is now supported on its network of 3,000 machines.

The company says ATM operators now have the option to decide whether they want their machine to support the digital asset.

“Owners can now enable XRP as it is backported to all machines sold to date. Of course, an ATM operator needs to enable it as they are the ones who own the machines, wallets, etc.”

The news comes a month after Ripple’s fundraising and development arm Xpring invested $1.5 million in Coinme, a crypto ATM company based in Seattle.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Clari Massimiliano

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