Up to 200,000 USDT in Prizes Await in SnapEx World Trading Championship Season 2 (WTC 2)

The most exciting crypto trading competition series from SnapEx is back! World Trading Championship Season 2 (WTC 2) is upping the ante with a prize pool of up to 200,000 USDT for a maximum number of 500 winners.

WTC 2 is based on the entirely new tiered competition format created specifically for traders on the SnapEx platform. Its prize pool will dynamically increase as the number of participants increases. And the total number of participants that will win prizes will also increase accordingly.

The schedule for WTC is divided into two separate periods. First is the early bird and team registration period, which starts on 8th September 2020 and ends on 22nd September 2020. Meanwhile, the actual competition is scheduled to happen from 22nd September 2020 to 6th October 2020 – a total of 14 days.

Early Bird Promo

WTC 2 has a special team-based trading event called Best of the Best, where winning teams can get a chance to win a share of up to 71% of the total prize pool. To incentivize teams to join this event, there will be an Early Bird promo in place to give away bonus rewards to qualified competition participants. 

As part of the Early Bird promo, SnapEx will reward the first 50 teams to register with 10 or more members during the specified early bird registration period. The reward for team leaders is 50 USDT each, while all team members of qualified teams will receive 10 USDT each.

To qualify for the early bird rewards, all team members must have a minimum of 50 USDT in their account balance at the start of WTC 2. That includes team leaders. SnapEx will credit the USDT bonuses on the first day of WTC 2.

The Early Bird promo registration period starts on 8th September 2020 and ends on 22nd September 2020.

WTC 2 Trading Events

The Best of the Best (Team) event is a competition to find out which team can come up with the overall most profitable trades. The top 10 teams will win up to a total of 71% of the competition’s prize pool.

The Pro Trader (Individual) event will reward the top traders based on individual profit every single day, as well as at the end of the competition. Up to a total of 19% of the prize pool will be given to the competition’s top individual traders.

The Most Wanted (Popularity) event is geared exclusively towards Team Leaders of competing teams. Up to a total of 10% of the prize pool will be rewarded to the top-performing Team Leaders who successfully invite traders to join the competition. 

All of the events in the competition will be based on Real account trading only. And only profitable trades will be taken into account for the calculation of winners per category, so any losses incurred in any trades will not affect the results.

First-time deposit giveaway

During WTC 2, SnapEx will also give away bonus rewards for all first-time depositors who have completed KYC.

Up to 3,000 SNAP points (equivalent to 30 USDT) will be given out based on the following criteria:

  • Deposit ≥ 100USDT will be given 500 SNAP
  • Deposit ≥ 500USDT will be given 1500 SNAP
  • Deposit ≥ 1000USDT will be given 3000 SNAP

Users will simply need to fill up a required form to be eligible for the first-time deposit bonus. All SNAP points will be credited to eligible user accounts 7 working days after the end of the competition.

How to Join

Download the SnapEx app or go to the SnapEx website with Web trader to sign up for a SnapEx account. Once you have completed the sign-up process, complete KYC, make your first deposit, and make your first trade. 

A minimum total trading volume of 20,000 USDT is required of all participants in order to qualify for WTC 2. You can find out all of the competition’s mechanics, rankings, and rewards details by visiting the official competition website at WTC.SNAPEX.COM.

Is Six-Figure Bitcoin Just a Dream?

Bitcoin is by far the best performing asset of the decade, but if you ask the average man and woman on the street, they know next to nothing about it. A few may have vague memories of Bitcoin’s parabolic rise in 2017 and its subsequent spectacular crash, but that’s about as far as the general public’s knowledge goes. As far as most people are concerned, Bitcoin is dead.

Yet, investors, developers, and commentators in the cryptocurrency space think differently. After Bitcoin’s recent halving event, which saw the numbers of new Bitcoin’s mined in each new block cut in half, sentiment has turned extremely bullish, and more than a few crypto analysts and traders are spouting price predictions well into the six figures. Bitcoin continues to have many use cases including online gambling at sites like casinobit.io, which will likely help drive the price higher as real-world utility develops.

Max Keiser Predicts $400k Bitcoin

Max Keiser needs no introduction to Bitcoiners. The host of RT’s Keiser Report, a popular alternative financial TV program, is a folk hero in the Bitcoin community and is one of Bitcoins’ strongest advocates.

He’s also a Bitcoin perma-bull, meaning he’s incredibly optimistic about the world’s most popular cryptocurrency. In February 2020, Keiser predicted that Bitcoin will surge to $400k. This is undoubtedly one of the most bullish predictions for Bitcoin.

Why should new Bitcoiners take Max Keiser seriously? He’s been advocating for Bitcoin since it was $1 per coin, and many of his most outlandish previous price predictions are now Bitcoin history. Will he be right again? Time will tell.

“I am officially raising my target for Bitcoin – and I first made this prediction when it was $1, I said this will go to $100,000 – I’m raising my official target for the first time in eight years, I’m raising it to $400,000.” – Max Keiser

The Stock to Flow Prediction Model

Keiser is not alone in believing that Bitcoin will reach incredible heights. A pseudonymous financial analyst who goes by the Twitter handle Plan B has created a huge following around his Stock-to-Flow price prediction model.

The S2F model, as it is popularly called, attempts to forecast Bitcoin’s future price based on the ratio of new supply compared to the existing supply. Because of how Bitcoin is designed, the new supply will tighten every four years, giving it a higher stock to flow ratio than even gold.

If the S2F model is correct, Bitcoin will surpass $100,000 sometime in 2021. It could reach valuations far higher before correcting, according to the model.

The First Major Use Case: Bitcoin Online Gambling Sites

Ultimately, Bitcoin will only succeed if it is used as a currency. One of the first use cases for Bitcoin, which remains relevant to this day, is online gambling. Since Bitcoin is fast, permissionless, and relatively private, online gamblers have always found it appealing, especially in countries with restrictive online gambling laws.

Bitcoin casinos like casinobit.io are growing quickly and are beginning to take on larger, more established operators, who can’t use Bitcoin due to regulatory restrictions. While these large operators have almost unlimited marketing budgets, they can’t offer the benefits that Bitcoin gambling sites can. 

What are those benefits?

  • Bitcoin casinos often offer bonuses of up to 5 BTC. If you work that out in GBP, it’s approximately £44,000. Regular casinos can’t compete with that, although these bonuses are released in stages rather than all at once, so they’re slightly different.
  • While some payment methods, such as credit cards, will restrict or block online gambling transactions, BTC payments will never be blocked. It’s permissionless money, meaning you can use it for any purpose you want, just like cash.
  • Bitcoin casinos also offer faster payouts. With a verified account, you could have your winnings on the same day you request them. Because of strict KYC/AML regulations, mainstream casinos can take days or weeks to pay your winnings. 

Will Bitcoin gambling continue to grow? There are signs that it will, especially if Bitcoin grabs headlines once again because of a parabolic price rise. However, it faces certain challenges, too.

  • Bitcoin won’t be accepted at regulated online casinos in the UK, Sweden, and elsewhere until cryptocurrency regulations are crystal clear in these countries. It’s unclear when this will happen. For now, it’s accepted at crypto casinos like casinobit.io.
  • Bitcoin’s price is notoriously volatile. With a larger market cap, this might level out, but the rollercoaster ride is still enough to scare many players away.
  • Bitcoin isn’t the most user-friendly technology. It has a long way to go in terms of UX, scaling, and being easy enough to use for everyday people who aren’t interested in technology.

Despite these challenges, it’s almost certain that if some of the more bullish price predictions mentioned above are correct, Bitcoin gambling will grow even larger. As players will go “risk-on” in an attempt to win more bitcoins and benefit from the parabolic price rise, should one occur. If a six-figure Bitcoin does become a reality, Bitcoin gambling sites will certainly benefit.

Other Bullish Price Predictions & Reasons

As we said earlier, the sentiment is bullish in Bitcoin-land right now, and while the two predictions above are some of the most bullish, they are by no means the only ones.

  • Simon Dedic, the cofounder of Blockfyre, sees Bitcoin reaching $150k at some stage.
  • Popular trader Theta Seek (Twitter Handle) sees Bitcoin at $100k if 10 million global investors spend an average of $9 per day to buy up the new supply.
  • Mark Yusko, CEO of Morgan Creek, claims that Bitcoin could “easily” reach $100k or more in 2021 or 2022.

What are these bullish price estimations based on? Several factors.

  • Bitcoin experienced its third halving on May 11th, 2020, tightening the new supply of coins. This happens every four years.
  • NASDAQ-listed business intelligence firm Micro Strategy recently announced that it would put $250 million into Bitcoin, making BTC its primary treasury asset.
  • Central banks are on a global money-printing binge in an attempt to provide support to economies battered by the effects of COVID-19.
  • Recent data suggests that 60% of BTC has not moved in more than 2 years, suggesting that more and more people are HODLing their coins for the long haul.

All of these factors combine to paint a bullish picture for Bitcoin, hence the current market sentiment of those closest to the crypto industry. Why not try to win some at https://casinobit.io today? If a new bull run is really upon us, your jackpot could increase significantly in value.

Deciphering New Reserve Currencies Map: Putin Absorbs Scandinavia but Leaves the Germans Behind

Russian Bitcoin, Chinese Bitcoin, American Bitcoin, etc. Eight National Bitcoins Come to Replace the Dollar

2020 is three quarters in. Battered with people, Trafalgar Square is heeding the speech about reptilians. The Germans are storming the Reichstag, chanting “Putin”. What is going on? 

The real chaos is always about big money. The dollar has almost ceased to be the world’s major reserve currency. This is not an idle doubt, the matter has moved to a practical level. So, as the sweet spot is never empty, what will replace the USD and how?

A) Five Broadly Discussed but Unlikely Scenarios

A1) There will be no dominant reserve currency or reserve currencies at all. 

In a fully computerized economy, they are not needed. All calculations can be performed on-the-go in an unlimited number of scales, with the necessary accuracy. Unfortunately, because this scenario is technically the only correct one, it is precisely the one to not being implemented.

The world would only accept a healthy hybrid of the past and the future. According to Popper, one refuting fact is enough for the theory to be discarded as useless. However, that never happens in practice. When the dollar dies, this stubborn fact will be fought and then ignored until a whole generation of relevant professionals has physically retired. Therefore viable constructions in the field of new reserve currencies must avoid “pure innovation”.

A2) Libra 

We mention this scenario only because if you duckduck the topic being discussed, Mr. Carney’s trolling will surely pop up.

A3) Return to gold

Despite the active buying up of gold by some large countries, one can never enter the same river twice.

A4) Bitcoin

For today, we have to admit that Bitcoin was a historical false start. The place of the global reserve currency is not yet vacant, and Bitcoin is already over-concentrated in the hands of a few people and has already been compromised for a global role.

A5) Digital RMB (yuan) 

China remained within the borders of Tianxia for thousands of years for a reason. The Chinese are not able to formulate their development ideas for anyone to understand outside of China. The “American dream” was once quite an exportable concept, while the “Chinese dream” sounds absurd from the very beginning. Besides, the U.S. will take any irrational steps and lie down in dead bones if needed to not allow that.

B) Multipolar Set of Reserve Currencies

The world lacks fools for this scenario to pass.

First, being an issuer of a reserve currency is very burdensome if there is no revenue from the hegemonic power effect (see Triffin’s dilemma).

Second, when the currency of one country, say the Brazilian real or the Indian rupee, tries to carry out a direct monetary expansion, it only irritates the neighbors and hinders success on other foreign policy fronts.

But most importantly, becoming a reserve currency in the modern world inexorably requires digitizing your national currency (as is already happening with the Chinese yuan). This is extremely dangerous for any society other than open, transparent authoritarianism. All economically strong countries at the moment (except China) are essentially theocracies (the power of hidden elderly “clerics” who obey a muddy set of dogmas), following the formal laws of ochlocracy (universal suffrage), and at the same time brazenly calling themselves democracies (the power of economically and culturally useful citizens). But if a council-of-elders-run China can survive this, a pseudo-ochlocracy like the USA, UK, Germany, or Japan can’t. Digitization of the national currency is, in particular, direct interaction between the Central Bank and citizens. This threatens the entire commercial banking industry and concentrates too much power in the hands of financial officials.

С) The Derivative Option

Last but not least. The most probable is a fundamentally supranational option: the reincarnation of “special drawing rights” (SDRs). The reason why this scenario will be implemented is that all the actors in the game need to buy time.

This has already been the case. On August 15, 1971, President Nixon suspended the free conversion of dollars into gold. It never resumed. On December 17 of the same year and on February 13, 1973, the first and the second devaluations of the dollar against gold took place. At this point, the Bretton Woods epoch can be considered complete. As soon as in March 1973, the Jamaica Accords — based on freely floating exchange rates — was officially launched and the reorganization was completed by 1978.

When mass media describes the changes that have occurred, it is usually said that the “gold dollar” gave way to the “petrodollar”. But this is not quite true. At first, SDR issued by the IMF were formally declared the world money, while the dollar became only one of the reserve currencies (along with the British pound, Swiss and French francs, the German mark, and the Japanese yen). Only a few years later, the U.S. dollar, as conceived by the architects of the smokescreen, has become the main currency of international settlements and government reserves, and Washington has, in reality, got the opportunity to issue dollars without association with any external indicators. As it seemed back then, it could be limitless. 

However, this time the supranational option may take a foothold. 

For example, a prototype has already been implemented for the Eurasian Economic Community (EAEC) zone and its geopolitical vicinity. It is called Russian Bitcoin. 

Russian Bitcoin

The same scenario is offered to all other economically self-sufficient territories of the planet. According to the group of enthusiasts authoring the National Bitcoin project, there are 8 of them. 

The project site is quite verbose, and there are many details. We will try to highlight the essence.

Russian bitcoins are created with the help of Bitcoin Core protocol with the following changes:

  • Edwards-curve Digital Signature Algorithm (EdDSA) that exploits the Ed25519 signature scheme
  • SHA3-512 is used to generate digests when signing transactions and messages; SHA3-256 is used in address generation
  • Smooth emission curve; emission adapts to sudden changes in the network hash rate

The essence of the idea is that 18,347,513 Russian bitcoins (~87% of all)  are created with block 1 and are being evenly distributed among all residents of the territory.

A special hardware-specific application with a built-in “physical CAPTCHA” function creates the address and corresponding private key for the applicant to receive RUBTC due. The CAPTCHA is based on proximity alerts with fellow-users via Bluetooth but unlike contact-tracking software, the app uses no personal data such as name, e-mail, phone number, etc. 

Yet-undistributed Russian bitcoins are strictly excluded from circulation. As the distribution halts on the specified date, the unclaimed Russian bitcoins will be randomly distributed among general delivery accounts attached to active social network accounts.

Baseline Economic Logic of Russian Bitcoin 

Although no official infrastructure is involved to issue and maintain Russian bitcoins, anyone (including governments) can buy them and influence the amount in circulation. 

These days, governments distribute “helicopter money”: the national currency is allocated to certain categories of people. Giving money in return for the corresponding amount of Russian bitcoins makes the same sense for citizens but, as a result, the government has more than just the records of transactions. National Treasuries acquire “digital gold” they can use in foreign trade and as a collateral for a new issue of fiat money. 

Emission of fiat money backed with Russian bitcoins is a coordination game, an algorithmic seigniorage. The ability to automate moves in this game increases the seigniorage outcome. This is nothing new. However, since conventional unsecured currencies have low credibility, Russian Bitcoin (and other National Bitcoins) constitutes a reputational gain. 

Unredeemed Russian bitcoins remain in the hands of citizens and receive a market valuation, which can be influenced by conventional instruments such as timely interventions and regulation of private trades. The gradual increase in the popularity of this tool will ensure the return of the government’s costs at the initial stage. 

Governments can sell Russian bitcoins and encourage the transfer of household assets from foreign and conventional cryptocurrencies to the tool more useful for the domestic economy.

Governments can also buy Russian bitcoins from those foreigners who were eligible to receive it, making certain preferences in price. National currency gets some additional international circulation. This may reduce the negative impact of the deficit of conventional foreign exchange reserve assets.

Thus, peoples of the economically self-sustained territory (half of Eurasia) issue a finite amount of money and allow governments to buy it from them. As governments compete, not financial moguls and speculators, a competitive regional reserve currency is formed. Residents of more productive territories get a higher price for their reserve currencies.

Great for Nations: Public Monopoly on Money

Just because the source of all value in the world is people and what they do plus natural resources (which belong to the people), the only source of money (and, consequently, power) is the people, not presidents or governments. Despite being written down in most modern constitutions, this obvious principle is never actually implemented. Russian Bitcoin might really be creating a mechanism where the only source of money is people themselves!

Since national bitcoins are pre-distributed among all people, those who would typically take advantage of the proximity to the money printer get no privilege. Only after all the money is in people’s hands, governments can buy it back to allow for monetary multiplication and the creation of flexible monetary aggregates. This way, regular out-of-thin-air money serves the people because now everyone participates in profit-sharing. The credit leverage is now in the interest of all people, not only first-line bankers.

While each National Bitcoin territory consists of several countries and is self-sustainable, a single national government is not something irreplaceable or unique. Therefore, each government has to prove its monetary effectiveness.



via Medium

Mycelium Partners with BlocPal to Enable Crypto-Fiat Solutions for Next Generation Mycelium Wallet

Partner Agreement Includes Cryptocurrency-loaded Mycelium Credit Cards

VANCOUVER, BC, Aug. 24, 2020 /PRNewswire/ — Mycelium, creators of The Default Bitcoin Wallet, have partnered with BlocPal International, a leading global fintech and blockchain technology company, to strengthen their offering of crypto-fiat features in their next generation Mycelium Wallet. The upgraded wallet will provide consumers with more options to use their crypto to transact with traditional fiat banking and payment related services. The partnership will also provide Mycelium users in the USA and Canada with a Mycelium credit card which can be loaded from their Mycelium wallet balances. Mycelium credit cards are also planned to be rolled out later to users across Europe, the United Kingdom and South America.

Mycelium is one of the world’s most established blockchain brands. The Mycelium wallet launched in 2012 and is now one of the most widely used digital wallets on the planet. With over 2.2 million downloads on the Android and Apple app stores, the platform has an active user base of over 235,000 users facilitating over 10 thousand daily cryptocurrency transactions. According to Alexander Kuzmin, founder and CEO of Mycelium, “this strategic partnership with BlocPal helps us continue to scale as a global, consumer focused brand. By offering more options to use crypto together with traditional fiat payment transactions and bank cards, we are able to deliver a powerful, fully integrated experience to our users.”

BlocPal is a Vancouver-based, global fintech company providing first-of-class enterprise, blockchain-based technology to both consumers and enterprise customers. BlocPal provides customers with digital transaction solutions via API and customized white label services. An essential part of the Company’s platform is the BlocPal blockchain which securely manages both crypto and fiat transactions with Know-Your-Customer (KYC) verification to ensure regulatory compliance. “We are really excited to have Mycelium integrate BlocPal’s services into the Mycelium wallet,” said Nick Mellios, CEO of BlocPal. “Partnering with such a well respected brand is a great way to showcase our integrated fintech services for digital wallets. We are committed to helping the Mycelium team achieve its goals for future service levels and consumer adoption.”

The upgraded Mycelium wallet will allow users to create native BlocPal blockchain wallet addresses and deposit BTC, ETH, XRP, BCH, BSV, LTC and USDT to their wallet address to conduct instant transactions with each of these cryptocurrencies. Using the crypto funds deposited, users will be able to load their virtual and physical Mycelium credit cards for transactions with merchants around the world. Users will also be able to recharge airtime minutes with over 132 countries worldwide, make bill payments and pay with crypto instantly at any merchant participating in the BlocPal merchant network.

About BlocPal International Inc.
BlocPal’s vision is to provide the world a simple, fast, and secure digital transaction platform that allows anyone to transact in their currency or asset of choice. A leader in the emerging digital economy, BlocPal empowers consumers, merchants, and enterprise customers to participate now in this digital economy, which includes both fiat and cryptocurrencies. At the core of BlocPal’s service is its decentralized blockchain transaction technology, which enables any currency or asset to be digitally signed and traded while complying with established financial regulations.

With its suite of applications, BlocPal’s ecosystem supports a range of solutions for point-of-sale, e-commerce, white label enterprise solutions, loyalty rewards, financial network integrations and robust consumer digital wallets.

For further information, please contact:
BlocPal International
Mike Edwards, President
+1 866-256-2725

Via Finance.Yahoo

The Only Gold-Backed Cryptocurrency that Pays Dividends Perpetually

A new cryptocurrency backed by gold has entered the market. This crypto is called Gold Secured Currency (GSX) and is bringing with it unique features that promote profit, growth, and security. 

Gold-backed stablecoins have attracted many investors thanks to their resistance against market fluctuations. And that is because of their attachment to a real-world asset, gold, provides the same price stability and protection against violent market fluctuations, just like fiat-based cryptos.

But GSX comes to the market to bring a new standard to what it means to be a gold-backed crypto. 

Who Is Behind GSX?

GSX is a new stablecoin asset that runs on the Apollo Blockchain. Unlike other gold-pegged cryptos, the value of GSX is not only tied to gold reserves but also to the company’s mines and domains. That encompasses over 3,000+ acre platinum and gold mines owned by the company.

The Apollo Blockchain was developed and launched by the Apollo Fintech company and is the first blockchain to have Database Sharding integration, and other new technologies to attain real blockchain sustainability. 

The company was the first to develop and distribute a complete e-Government platform and National Currency Platform to nations that want to create their own cryptocurrencies. This year, they will also be launching Stratus, the most expansive social network.

The GSX coins will be backed by 50% of the gold that will be produced from the mines and refineries, constantly raising the value of the stablecoin. The other 50% will be distributed to GSX holders as dividends.

And, although a stablecoin, Apollo Fintech will secure the future growth of GSX by acquiring new lands with gold, opening a refinery, and expanding its mining operations.

What Is GSX?

GSX is an innovative cryptocurrency with its market price tied to that of gold. This allows investors to protect themselves against losses derived from sharp market volatility, which is common in regular crypto assets.

An additional feature that is unique to this cryptocurrency is its dividends system. By owning the coin, the holders also receive profits on a regular basis. GSX is also the first crypto that will increase in value indefinitely by expanding the real-world operations backing the asset.

GSX’s price will be start off at 0.046 cents, but its value will certainly increase as more gold is produced. Also, the GSX will follow the price the gold, so investors do not need to worry about the price of the coin going down and losing their investment. Moreover, they will be able to take profit from gold appreciation as well.

50% of the coins that will not be sold in the CDE will be burned by the company, and the gold used for their backing will be given to the rest of the GSX coins. By burning coins, the total supply is reduced, and the price of the crypto will go up.

GSX takes the security of a stablecoin, the trading benefits of a cryptocurrency, and the dividends of an investment coin to make a perfectly risk-free and profitable digital asset.

True Ownership

Unlike other coins, GSX holders have the same rights as trust beneficiaries and legal owners of the company, its mines, future refinery, lands, gold, and other associated properties and resources. And that is aside from the yearly dividends they receive.

Audited Reserves

Apollo Fintech holds regular audits with reputable third parties in order to prove that their gold reserves are real and that all coins are properly backed by the precious metal.

Easily Redeemable

GSX coin can be easily redeemed for its gold value directly from its main platform so the need to convert the coin to fiat on various exchanges can be eliminated.

GSX is the first crypto of its kind, as it is a safe investment that promises perpetual growth and yearly profits.

The Effect of the Bitcoin Halving on Online Casinos

On May 11th, 2020, one of the most important events in the history of Bitcoin happened. We’re talking about the Bitcoin halving, when the supply of new bitcoins issued in blocks is halved, reducing the inflation rate and making bitcoins more scarce than ever.

As of May 11th, halving events have happened three times in Bitcoin’s short history. In previous times, the price of Bitcoin has increased dramatically after halving events. Anticipation of another bull run is causing many online gamblers to switch to Bitcoin casinos, many speculators to buy and hold Bitcoin, and many traders to switch to long positions to try to capture some gains.

Let us explain more about the halving, how it affects Bitcoin, and why Bitcoin casinos are more popular than ever before.

The Bitcoin Halving – What Is It and Why Is It Important?

To understand the Bitcoin halving, you need to have a basic understanding of how Bitcoin works. It’s much simpler than you might think, despite being unfamiliar to most people.

Every 10 minutes, a new Bitcoin block is created, which has in it a number of recent BTC transactions. Bitcoin miners run specialized computers 24/7, trying to guess the cryptographic key to unlock the next block. If they guess it correctly, they get all of the transaction fees and the block reward, which is some of the new bitcoins.

Every 210,000 blocks, or about every four years given that a block is mined every 10 minutes, the block reward halves. This is why it’s called the halving. This means that the number of new bitcoins being issued decreases every four years, unlike fiat currencies, which central banks print by the tens of billions whenever they feel like it.

The fact that Bitcoin gets more and more scarce over time makes it attractive to all sorts of people. Speculators, investors, Bitcoin believers, and online gamblers sense the value in a currency that is scarce, especially as central banks flood the world with paper money.

The two previous Bitcoin halvings have been correlated with dramatic price increases in BTC. Here’s what happened before.

  • In 2012, the first Bitcoin halving was followed by a price increase of 8,069% within one year.
  • In 2016, after the second halving, the price of BTC increased by 284% within a year. Ultimately, it reached a record high of $19,786 in December 2017.

Some Bitcoin analysts expect another price rise to well over $100,000 before the next halving. This is why so many online casino players are rushing to try to win some Bitcoin. If you win $10,000 of BTC today, and it really does increase to $100,000 or more per coin, your jackpots will be worth at least 10x more. There are no guarantees that it will, of course, but gambling is all about risk.

Why Bitcoin Casinos Are Booming in 2020

There are a few reasons why BTC casinos are growing rapidly in popularity, and why this halving event (more so than any other) is causing online gamblers to flock to them in droves.

1. Bitcoin Casinos Are Secure

When you gamble online with Bitcoin, you don’t have to share your credit card or bank details with the casino. You deposit BTC straight from your Bitcoin wallet, and when you win, you withdraw to it. The wallet doesn’t give away any details about you, and if a hacker did break into the casino, all they would see is your wallet address and transaction history. Without your private keys, they can’t do anything with your wallet address. Therefore, Bitcoin casinos are safer and more secure than fiat casinos.

2. Bitcoin is Maturing and People Sense It

After the previous two halvings, in 2012 and 2016, barely anyone had heard of Bitcoin. These days, Bitcoin is talked about in the mainstream media often, and the number of users has increased dramatically. Even CNBC hosts and Wall Street legends like Paul Tudor Jones talk about Bitcoin’s bright future. There’s a sense that Bitcoin is reaching a new level of maturity and is being accepted by people who previously dismissed it. Many BTC holders are convinced that institutions such as pension funds will soon buy and hold Bitcoin, so the price increase could be larger than anything we have seen before.

3. Bitcoin Is Changing Gambling for the Better

Bitcoin itself has forever changed money, but it has a number of knock-on effects which are positive for online gambling, too. For example, since all Bitcoin transactions are recorded on the blockchain, it is impossible for rogue casinos to steal your deposits and deny that you ever made them. Likewise, there are now Provably Fair casino games that use blockchain technology and hashing to make sure that game outcomes are truly random and honest. These innovations will clean up casino gaming and squeeze rogue operators out.

Why This Halving Is Special for Online Gamblers

While all of the benefits of Bitcoin casinos listed above are great, the real reason why this halving is positively affecting Bitcoin casinos can be summed up in two words; potential gains!

Gamblers can look at a historical Bitcoin halving chart and see how the price has increased by a lot after both previous halvings. With the maturity of Bitcoin as compared to previous halvings, the potential for price increases this time is even greater. Gamblers are excited because winning some Bitcoin today and holding it for a couple of years could be highly profitable.

In summary, gambling is potentially a fast way to increase your Bitcoin holdings. One lucky spin on a slot machine could give you 1,000 times the bitcoins you risk. Playing Bitcoin poker with a smart strategy could mean your BTC stack grows dramatically. It’s all there for the taking, and it coincides precisely with an event that makes Bitcoin scarcer than ever, and at a time when central banks are flooding the world with paper money.

Could this be the perfect storm for Bitcoin? We’ll soon find out, but for now, Bitcoin casinos like KingBit Casino are more popular than ever, and this halving is only helping them grow in popularity as players see the true value of Bitcoin.

Mycelium Wallet Supports ERC-20 Standard

A lot of community members store ERC-20 tokens these days. As Ethereum remains the most popular blockchain platform for smart contracts and DApps, Mycelium wallet now supports the standard.

Here is the current TOP10 list of ERC-20 tokens by 24H volume:

  1. Tether USD (USDT). The most popular USD-pegged stable coin.
  2. TrueUSD (TUSD). A regulated USD-pegged stable coin.
  3. USD Coin (USDC). A fully collateralised USD-pegged stable coin backed by Circle.
  4. BNB (BNB). A regulated USD-pegged stable coin by Binance.
  5. ChainLink Token (LINK). A token to support the middleware (the bridge between smart contracts, data feeds, APIs, and traditional bank account payments).
  6. Paxos Standard (PAX). A regulated by the NYDFS and fully collateralised USD-pegged stable coin.
  7. ZBToken (ZB). The token of a financial service provider.
  8. VeChain (VEN). A token to support the middleware (an oracle plus IoT integration).
  9. OKB (OKB). A token to support the digital asset exchange.
  10. OmiseGO (OMG). A token to support financial technology.

Hype-pandemic Decreases the Velocity of Money So Unavoidable Hyper-QE Doesn’t Blow Up the World

In the recent couple of decades, financial processes have been dominant. Today, everything else—wars, energy supply, digital technologies, mass media, even politics—all are tertiary, all follow the logic of the global financial center restructuring, foot-to-foot. 

The key event of recent months is the official launch of the FED’s multi-trillion-dollar giveaways (hyper-QE). 

From this moment on, it is impossible to go back to the previous state of the system. Now, only forward! We are heading into the unknown and not yet experienced by anyone. We are facing something for which there is no description, rules of tested behavior. 

The exaggeration of the pandemic (hype-pandemic) serves the need for a sharp slowdown in the real economy. 

A sharp acceleration of financial pumping must not be done without slowing down the real sector. As they are multiplying the increased money supply by the decreased speed of money, at least to some extent they stay commensurate with the second part of the classical equation. This way, the hyper-QE does not [necessarily] lead to immediate hyperinflation.

But why did they end up needing this hyper-QE in the first place?

We should first ask why weren’t they afraid to QE in 2009 and later and why aren’t they afraid to hyper-QE now? The very ability of the Fed to print and throw trillions of dollars into the furnace of the system without inflationary consequences for the dollar does look like a miracle.

The trick is that capitalism (that could be “afraid” of such actions) has not existed for many years already. It’s been dead since a two-circuit financial system has been formed, in which “dollars for capital operations” are separated from “dollars for the consumer market”. The former circulates in the virtual world of large speculations and investments. It does not trickle down to consumers, it never becomes the latter. The money that does sneak into consumers’ pockets is immediately sucked back into the virtual world via the [artificially] “growing stock market”. This is why they’d kill for constant “growth”. To a large extent, it has been a Ponzi for centuries but since about a decade ago, it is a complete and very quickly rotating Ponzi.

Notably, the two-circuit system is one of the core characteristics of the so-called developed socialism. Just as under Brezhnev, under Obama, capital operations ceased to depend in any way on the real economy. The percolation of the “capital” dollars into the real sector, as well as non-cash rubles into cash at the time, is, in fact, a planned (commanded) procedure, since it is determined by budget expenditures agreed in congressional committees.

However, in the bourgeois United States, it is impossible to maintain this separation of the two financial circuits for a long time, even with the full support of deceptive mass media.

Even in the best virtual computer game, there are external limitations and physiological needs of the players. Someone should go into this increasingly dusty and degraded game room and put cheeseburgers in a convenient place so that gamers can pick’em up and eat without removing virtual reality helmets. Someone also needs to change diapers.

In an exciting game of virtual financial “capitalism”, China and other countries of the periphery were needed for this “support” role. The dependence of the real sector of the world economy on the virtual game was created by involving the comprador elites, albeit indirectly, through offshore banks that siphoned dollars leaked to the producing sector back into the global virtual game. There’s plenty of other mechanisms: creating local budget deficits, IMF loans, buying American “treasuries” instead of investments in their own economies.

Until recently, this convergent virtual superstructure over the real economy not only co-existed with classic capitalism but also helped it complete the global expansion. Even the politically closed North Korea is now partly embedded in the world market through smuggling.

Having embarked on the path of QE in 2008, the financial elite of the West could no longer step off it. Rather, attempts to maneuver always ended with the opposite maneuver, leading to the main trajectory — to the collapse of the pyramid.

Every day, the two-circuit system requires bigger and bigger infusions — from several billion a year they came to several trillion in a month. All this time, the real economy has not expanded. 

The hype-pandemic is a gesture of despair. That’s why it feels so caricatured. For 75 years, there has been no place for real despair in our world. The hype-pandemic allows the otherwise split elite to temporarily unite and slowly pump the already punctured bubble of the real economy. 

They now have the formal justification to continue the Brezhnev’s practices and distribute loans without collateral and give away subsidies. 

Ok, for now, they avoided a sharp collapse with the destruction of even relatively healthy and necessary sectors and enterprises. This can be called a success. Gradual deflation is better than immediate death. So far, much of the extra money continues to be sucked out of reality to the “virtual” stock market.

But did the quarantine give time to work out an agreed decision? Did they decide what is going to be the fate of the dollar? Probably so. In such a stressed situation of the “co-located” mutual and universal interest, in a situation when they have time to solve it, there SHOULD be some [temporary] solution. Then, of course, after some time the world will have to look for the next move.

Via Ad-hoc Economy