Inshorts

Partnership with MoneyGram leads Ripple to rise in price. The American financial service of international money transfers MoneyGram reported on the partnership with the supplier of financial blockchain solutions Ripple. It is planned to use XRP tokens in the money transfer processes using the xRapid system created by Ripple. Now, MoneyGram customers will be able to send their funds in the online mode with full transparency, and MoneyGram will have the opportunity to save time and money, while solving the liquidity problem, that is, solvability. The news about the partnership have led expectable to an increase in the price of XRP on exchanges — the rate of the token for the 11 January increased by an average of almost ten percent, exceeding the cost of two dollars.

Ecology of mining. There is evidence that mining consumes more electricity than a European country. Indeed, mining consumes about five terawatt-hours per year which is equivalent to Denmark's energy consumption. There are concerns about the impact on the environment due to increased energy consumption since more electric power will be needed to extract bitcoin. Meanwhile, owners of mining farms are looking for other opportunities. Mining farms in Iceland are increasingly using the energy of geothermal sources, and in the US - hydropower. Solar cells are also considered as an alternative to traditional carbon sources of electricity. The debate between alarmed environmentalists and miners continues.

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Bitcoin users urge the world's leading Coinbase platform to accelerate the process of implementing the Segregated Witness (SegWit) protocol which minimizes commissions and allows you to place more transactions within a block. With that in mind, a corresponding petition has been launched on the site Change.org. By now, it has already been signed by 6,000 people. According to Coinbase, for the introduction of SegWit the company is going to recruit additional development staff to its offices in San Francisco, New York and London and expand its support staff.

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Satoshi Nakamoto is, in fact, an Estonian scientist. This opinion was expressed by a lawyer from Los Angeles, Justin Sobaje. His exploring and analysis led to the conclusion that an unknown bitcoin author named Satoshi Nakamoto is a senior research associate at the Institute of Cryptography at the University of Tartu, Estonia. The scientist himself denies this message and asks not to mention his name in the press, stressing that the bitcoin author was not a cryptographer. According to the legend, Nakamoto is a Japanese. The author is sought among cryptographers and programmers in Europe and the United States. It has been heard nothing about the bitcoin creator since 2011.

Having risen by a third in six days, Ripple's cryptocurrency has lost more than thirty percent over the weekend according to CoinMarketCap. On Monday, a popular analytical resource has excluded the indices of South Korea exchanges. Ripple has become one of the most affected cryptocurrency, as more than half of the trading volume falls just on South Korean exchanges. Last week, Ripple showed a sharp jump, not reaching a few cents to four dollars per token, making the creators multibillionaires. The wealth of Chris Larsen, co-founder of Ripple, was hypothetically of almost fifty-six billion dollars ($ 55.8 billion) at the peak of growth. On the 9th of January, Ripple takes the third place on capitalization in the list of CoinMarketCap.

Europe is working out a scheme of crypto taxes - the European Central Bank thought about the identification of participants in transactions with the cryptocurrency. To do this, it is necessary to regulate transactions and impose taxes on them, said the governor of ECB, Ewald Nowotny. In his opinion, the users of cryptocurrencies should also pay value-added tax. Otherwise, there is a possibility that the absence of restrictions on cryptocurrency will lead to money laundering. Earlier Nowotny argued that crypto-currencies do not threaten the world financial system. The ECB head, Mario Draghi, said that there is no authority to regulate cryptocurrencies.

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The Government of Gibraltar had responded to the strengthening of the role of blockchain technology in the economy. Starting January 1, the norms which oblige companies to protect the rights and interests of consumers, inform clients about possible risks, as well as about actions in crisis situations have entered into force. In addition, these companies are required to have an appropriate license from the Financial Services Commission (GFSC). The new rules apply to any type of commercial use of blockchain technology as a means of storing and transferring a value. The cryptocurrency exchanges also fall under these rules. The authorities believe that legal innovation will contribute to technological innovation.

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The confidence of South Koreans in the cryptocurrency is ten times higher than trust in fiat money. The South Korea Financial Supervision Service (FSS) has published data on deposits placed on crypto exchanges in 2017. At the end of the year, South Koreans placed deposits on crypto-exchanges 64 times more than a year ago. At the same time, two times more money was passed through state banks than through commercial banks. The legislator, member of the House of Representatives Park Yong-jin believes that the probability of difficulties with the exchange is high because of speculation. Therefore, according to the parliamentarian, it is necessary to strengthen public administration and oversee the stock exchanges.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.

The purchase of bitcoins by the venture Founders Fund, founded by Peter Thiel, increases the cost of technology companies. The fund is actively investing in the technology sector while assessing the risks and opportunities of high incomes. The fund is actively investing in the technology sector while assessing the risks and opportunities of high incomes. The bitcoins acquired by the fund already reach hundreds of millions of dollars, although the initial investment was intended to be $15-20 million. The purchase of cryptocurrency began in mid-2017. Founders Fund already has under its control more than $ 3 billion invested earlier in such well-known brands as Facebook, Airbnb, and Lyft.