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Here Is How Litecoin’s Charlie Lee believes XRP is Artificially Controlled

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XRP

The question as to whether the Ripple company owns too much XRP has been on the mind of many cryptocurrency investors for a very long time. This discussion was highlighted when the company locked up 55 Billion in Escrow last December to guarantee the predictability of the coin’s supply. As a matter of fact, the simple fact that Ripple owns a large amount of XRP is the reason the firm is currently facing 3 lawsuits from disgruntled traders who believe the company issued a securities offering with XRP representing a share in its holdings.

But let us talk about recent comments by Charlie Lee during an interview at the Asia Blockchain summit in Taiwan. During the interview, Charlie Lee explained his reasons for selling his entire LTC holdings and gave comparisons between LTC, Bitcoin, and XRP.

Charlie Lee expressed that he was relieved after selling all his LTC for the decision had weighed down on his mind for over 2 weeks. His main reason for selling was that he wanted to concentrate more on the Litecoin project rather than spend his time worrying about its price in the markets. As a result, we have seen the Litecoin Foundation capture partnership after partnership this year. A few of them include with Abra, TokenPay and WEB Bank.

When discussing XRP, Charlie stated that:

“There are many possibilities. …Ripple [*XRP] is somewhat like a diamond because its supply is also artificially controlled. And diamonds are actually advertising. …If you want to buy Ripple for marriage, it is very valuable, haha!”

In a sense, Charlie Lee is right for the Ripple company has locked up 55 Billion XRP in escrow. They have ‘squeezed’ the circulating supply to the current levels of 39.315 Billion. But since the Ripple company and XRP are a separate entity, it is within Ripple’s rights to HODL its XRP in whichever manner it deems fit. Locking up its XRP in escrow is similar to how you would lock up your own digital assets in a Ledger Nano S.

In conclusion, Charlie Lee is indeed right that XRP is being artificially controlled but only if you consider XRP as part and parcel of the Ripple Company. However, we have since learned that these are two different entities. Once we grasped this idea, we realize that Charlie Lee is wrong from this perspective.

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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 and read our full disclaimer.

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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