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Here Is Why Brad Garlinghouse Thinks Coinbase Should List Ripple (XRP)

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The visionary CEO of the Ripple company, Brad Garlinghouse, has recently put forth his idea that the Coinbase exchange should list Ripple (XRP). Mr. Garlinghouse argued publicly for the first time about the Coinbase addition during an interview with Fortune magazine only yesterday, Thursday, June 21st.

During the interview, Mr. Garlinghouse is quoted as saying:

“As we solve problems at scale for institutions, I think it’s in Coinbase’s interest to participate in that.”

What Brad meant by this, is that Ripple has continually proven its products of xRapid, xVia, xCurrent and RippleNet over the past few months. The current number of banking partnerships Ripple has gained so far is known to be over 100 with many speculating it could be in the 200 range already. This means that Coinbase needs to see the proverbial light and also list XRP for it is the current and future digital asset for remittances.

The Coinbase/Ripple conversation has been alive in all the social media platforms since January when XRP had peaked to $3.84 levels as the crypto-verse had anticipated an XRP listing on Coinbase. However, this did not materialize even after it was reported that Coinbase was offered $1 Million to list the digital asset.

Another argument (not by Brad) that can be put forth, is that both Coinbase and Ripple are American companies. Using President Trump’s mantra of Make America Great Again, it is about time the two companies came to an agreement and took over the world of cryptocurrency markets as we know it.

A third and not necessary the last reason Coinbase should add XRP is that the digital asset does not qualify as a security. Many crypto-traders have speculated that the delay in listing XRP is due to lack of clear direction by the SEC with regards to XRP. This, in turn, explains why Ethereum Classic (ETC) was listed by Coinbase in a heartbeat as soon as the SEC declared that Ethereum is not a security.

Brad Garlinghouse is quoted as saying the following with respect to XRP not being a security:

“I think it’s really clear that XRP is not a security. XRP exists independent of Ripple.”

With regards to the value of XRP, earlier this Friday, the cryptocurrency markets suffered a downward spiral in value as a total market capitalization of $10 Billion was lost in a little over an hour. But if you have been in this cryptocurrency industry for the last 6 or so months, this type of action is normal. During last week’s Coinrail hacking, the total crypto markets lost close to $50 Billion.

Looking at the coin of the day, Ripple (XRP), it too has been affected by the current decline. XRP is currently trading at $0.51 and down 5.11% at the moment of writing this. Bitcoin (BTC) has also been affected by the sudden crash and is trading at $6,373. The King of Crypto is currently down 5.49% in the last 24 hours. All fingers are crossed that the crypto markets stabilize as we walk into the weekend ahead.

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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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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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