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Here Is Why Ripple Separating itself from XRP, the Coin, is a Good Thing

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Ripple
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For a very long time, crypto traders and enthusiasts have continually used Ripple to refer to the digital asset known as XRP. It was okay to do so during the months of November and December last year, but when the Ripple company is facing 3 lawsuits as well as the SEC, it is prudent to know the distinction between the two entities.

Global Coin Report had earlier highlighted that the popular crypto tracking website of Coinmarketcap.com was the first to conclude that XRP is separate from Ripple. The website did this by newly naming the digital asset via its cryptocurrency code of XRP. This, in turn, could be translated as being that the good team at Coinmarketcap has also concluded that XRP is not a security.

In line with this conversation, the Ripple company has issued a statement via Twitter stressing that XRP and Ripple are two different and totally independent entities. In a tweet, the Ripple company stated that:

“The digital asset #XRP and the company #Ripple are distinctly different.”

The company would go on to give reasons why the two are separate by giving more information on its website.

So why is this a good thing?

To begin with, the SEC will now see the clear distinction that XRP is separate from Ripple. Not being biased, but the guys at the SEC are a little bit older than your average crypto trader. This means that for them to grasp the sense of what XRP is, the Ripple company and the XRP community need to lend them a hand in explaining the differences. Once this concept is grasped by the SEC, even the judges handling the 3 Ripple Lawsuits will also understand these concepts and throw the cases out the window.

To add to the above, separating XRP from Ripple now means that the company of Ripple is the biggest XRP HODLer out there. They can choose to dump a bunch of coins into the markets or choose to lock them up in Escrow. This is, in fact, is not a bad thing. It amplifies the fact that Ripple is a separate entity once again. Although a more ‘competitive’ position when looking at it from another XRP HODLer’s point of view. But knowing the guys at Ripple, they love the coin. They will not dump it.

The last reason why it is a good thing that XRP is separate from Ripple is that the institutional investors that were seated on the fence with respect to buying XRP, will now see the proverbial light and jump in with both feet. The buying of XRP might still be gradual and cautious with the pending cases and SEC comments, but it is still some progress in the right direction.

In conclusion, XRP continues to be one of the most loved and held digital assets in the crypto verse. With Ripple offering clarity between the two entities, the doors are open for the 3 pending cases to be resolved as well as the SEC declaring XRP is not a security. This will, in turn, bring in the institutional investors with their ‘big money’ signaling the beginning of an XRP Bull Run.

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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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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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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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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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