Connect with us

Bitcoin

Is Facebook About To Adopt Litecoin (LTC)? Here’s What’s Behind The Rumors.

Published

on

Litecoin
READ LATER - DOWNLOAD THIS POST AS PDF

Back in December, Charlie Lee announced on Reddit that he had offloaded his Litecoin (LTC) holdings, citing a potential conflict of interest between his continued behind-the-scenes and public activity in the space and the future of LTC from a price perspective.

Here’s what he said:

“So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence… or this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin.”

The market response was somewhat mixed to the development. Some suggested that his selling out of his position was a signal of a lack of faith in Litcoin’s long-term ability to stand up to some of the emerging coins. Others thought the opposite, suggesting his move was a sensible one and one that would allow Litecoin to develop organically, without the claims that manipulation is rife, as we’ve seen with many other (much talked about) coins over the last few months.

LTC Daily Chart

LTC Daily Chart

This author falls into the latter camp – Lee’s involvement in Litecoin’s growth was a conflict of interest in the purest sense of the phrase, so he had two choices: continue to push for the coin’s growth and sell his stake or back away from Litecoin and hold his stake.

The former, this author believes, is much better for the Litecoin community long term.

Anyway, that’s not the point of this discussion.

Around the same time that Lee sold his LTC stake, Coinbase announced the appointment of a Facebook executive to its board of directors. The executive is David Marcus, vice president of messaging products at Facebook, and his remit is to bring years of experience in building large-scale mobile products.

This spurred a rumor:

Is the conflict of interest that Lee refers to rooted in Facebook’s intentions to take on LTC as an integrated cryptocoin within its platform and if so, did Facebook request that Lee sells his stake so as to remove this CoI ahead of said integration?

Zerohedge put forward this suggestion here.

Since this all happened, Litecoin has had a pretty rough few weeks. Right now, the coin trades for $170 a piece, down nearly 70% on December highs.

The rumors remain in place, however, and, not only are the above factors playing into the suggestion that Facebook is interested in crypto, we actually got word from Zuckerberg himself in his 2018 Facebook mission statement, suggesting that the company will be looking into cryptocurrency and its potential integration with the Facebook ecosystem going forward.

So, is Facebook looking to integrate Litecoin with its platform, and specifically, its mobile messenger platform, near term?

Of course, it’s still all rumors at this point and no one can say for sure. With that said, we’ve seen a conflict of interest sellout from Lee, a Facebook exec (a messenger exec, no less) joining Coinbase (which lists LTC as one of a very select few cryptocurrencies) and Zuckerberg announcing he’s interested in crypto as a key focal point of the social network CEO’s annual address.

And all of this within the space of a few weeks.

We think that there’s more than enough justification for a speculative punt on this development playing out in line with the rumors, given the upside potential for Litecoin if Facebook makes the announcement the LTC community is looking for.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Global Coin Report Acrhives/Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Bitcoin

New Tendencies of Bitcoin Gambling

Published

on

Bitcoin gambling
READ LATER - DOWNLOAD THIS POST AS PDF

Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

Continue Reading

Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

Continue Reading

Elite