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The Feds are Giving You Another Reason To be Bullish About Bitcoin (BTC) and Ethereum (ETH)

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There is a glimmer of hope from the Feds even after the cryptocurrency markets keep losing value day after day. This is because the St. Louis branch of the US Federal Reserve has added four cryptocurrency price trackers to its extensive research database. The St. Louis branch announced that it will add pricing data for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) to is Federal Reserve Economic Data (FRED).

The data points will be obtained from the popular cryptocurrency exchange of Coinbase and will be updated daily at 5 pm Eastern Time.

The St. Louis branch of the Federal Reserve has been surprisingly open-minded and curious about cryptocurrencies and blockchain technology. The Governor of the St. Louis branch, Governor James Bullard was even at the recently Consensus Summit in New York and had this to say about cryptocurrencies:

“Cryptocurrencies may unwittingly be pushing in the wrong direction in trying to solve an important social problem, which is how best to facilitate market-based exchange.”

Bullard meant that Cryptocurrencies have created ‘non-uniform’ currencies in the United States which could be problematic. He stated that Non-uniform currencies do not have a good track record in that they do not last long after they emerge in the markets. His points are valid in a sense that there are over 1,600 digital assets trading at any one time in the crypto-markets. Rather than converging to a select few, stable digital assets, the industry is diverging to more riskier and weaker digital assets every day. This further destabilizes the crypto markets.

The need for uniformity might be the reason the St. Louis Branch of the Federal Reserve has decided to track pricing data of only 4 of the most known and somewhat stable cryptocurrencies of BTC, ETH, BCH, and LTC. The Feds have clearly seen that these are the most promising digital assets of the aforementioned bunch of 1,600.

It is a bit heartbreaking that Ripple (XRP) is not on the list, but this is because the SEC has yet issued a statement on its fate as being a security or not. Once the government body gives a positive statement on this (that it is not a security), XRP will surely be on a level equal or greater than ETH in terms of being the preferred digital asset investment option.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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