Visa, Mastercard, PayPal And other Big Names To Support Facebook Cryptocurrency

Facebook has joined dozens of companies in support of the new social network cryptocurrency that is expected to be launched soon and among them has big names reported on The Wall Street Journal on Thursday.

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Visa, Mastercard, PayPal, and Uber are some of the most lucrative companies that will support the new Facebook technology. Each of them will invest nearly $10 million in the consortium that will oversee cryptocurrency, the WSJ reported, citing people close to the issue.

The money will be used to fund the creation of a currency that could be exchanged with some of the world’s most powerful paper money, the report further said. The social network decides not to comment on the report. Last week, it was reported that Facebook is close to the debut  this month the cryptocurrency.

While the encryption blockchain will be much more centralized than bitcoins with 100 or fewer nodes in the payment network, the company will benefit from outsourcing assistance to keep the system running.

Apart from building trust, this system would be a frontier payment platform. A smooth launch would be vital to the health of the counterfeiter without mentioning the need to address the troubles with the regulatory authorities which have shown little skepticism about cryptocurrencies.

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neOadviser – TECH

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Facebook will launch the "GlobalCoin" cryptocurrency in 2020

Facebook will launch the “GlobalCoin” cryptocurrency in 2020

The coin, called GlobalCoin, would enable 2.4 billion monthly Facebook users to exchange dollars for other international currencies that can then be used to make payments and transfer money without having a bank account.

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Facebook founder Mark Zuckerberg last month met with Bank of England Governor Mark Carney to discuss this plan.

Zuckerberg also discussed the proposal “Libra Project” with US Treasury officials and is in talks with several money transfer firms including Western Union to develop in a simple, less costly way for people who want to transfer money.

A report last year said that Facebook is developing a cryptocurrency that would allow WhatsApp users to transfer money.

To make the value of stable cryptocurrency, Facebook plans to link its value to some of the world’s strongest currencies, including the US dollar, the euro and the Japanese yen.

A Facebook movement in financial services has long been expected, especially after employing PayPal president David Marcus. The latter is also a board member of Coinbase, running Facebook’s initiative in the blockchain.

At the beginning of the month, the US Senate sent an open letter to Zuckerberg to ask about how the cryptocurrency will work and how consumers will be protected.

In February, JPMorgan became the first US bank to create its own JPM Coin counterpart as a way to ease payments and transfers.

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neOadviser – TECH

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Bitcoin (BTC) to Energy (NRG) - TOP 5 Anonymous Crypto Converters,

Bitcoin does not stop, raises to $8,000

Bitcoin was exchanged with $8,000 this Tuesday, reaching the highest point since last July.However at these moments we write the value of bitcoin is pulled below this level to $ 7,960 according to CoinMarketCap.com.

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Experts say this powerful performance can signal a future that is worth investing in bitcoin. However, the volatile currency price and controversial history has spurred many skepticism.

Still bitcoin is far from the 2017 record when it exchanged to $20,000. Some experts called the downfall a correction of the speculative mania that accompanied the currency.

The currency also faces charges of price manipulation. Two academics at the University of Texas studied the possibility that the value of bitcoin be manipulated through the coin currency.

Today bitcoin and blockchain have become more usable. One of the largest banks in the world JPMorgan introduced a cryptographic currency. Together with Microsoft, they announced a partnership to expand blockchain platforms. ICE, the NYSE stockbroker, has scheduled the release of bitcoins and cryptomones on the stock exchange.

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Binance loses 40 million dollars in Bitcoin

Binance loses 40 million dollars in Bitcoin

Binance, one of the most popular cryptocurrency market in the world, has claimed to have lost nearly 7,000 bitcoins worth $40 million after a hacker attack.

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Bitcoins were placed in a hot portfolio of internet-connected portals used to process transactions, Bloomberg reported.

It contains 2% of Binance assets and was stolen with a single transaction said Binance. According to the company, hackers had used a series of phishing techniques, viruses and other attacks.

Binance promised to cover all losses using the security fund for the users, a security reserve used for these situations.

According to Bloomberg, the attack had activated an alarm within the company even though it failed to prevent the attack.

Industry media CoinDesk said that cryptocurrency received a blow to the value immediately after the news. In December 2017 bitcoin was estimated at $20,000 before it fell below $5,800.

The industry is involved with fraud, speculation, attacks, and dubious business practices. Researchers say the big increase in bitcoin in 2017 has come as a result of market manipulation.

American authorities recently said that this manipulation was carried out using the “stablecoin” Tether.

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Coinbase launches a Bitcoin debit card in Europe

Coinbase launches a Bitcoin debit card in Europe

Cryptocurrency most popular grants Coinbase announced today the launch of a debit card in Britain where users can pay with bitcoin, ethereum and litecoin.

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The card will automatically convert the coins to pounds and withdraw them from an ATM. A Coinbase application will be offered where users can choose which digital currency they want to use.

It is the first card of its kind and the good news is that it will be offered in other European countries as well.

The news comes at a time when the value of bitcoin has begun to recover by crossing the $5,000 limit for the first time since November.

Experts say the increase in value may attract new investors. A similar card has been launched in the US by Shift Payments but has already been closed.

In Britain any transaction with the new card will cost 2.49% of the value. In the rest of Europe 2.69% and in other countries 5.49%.

Most VISA cards do not charge users in domestic markets for completed transactions.

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ALL ABOUT FULL NODES : THINGS TO CONSIDER

Bitcoin reaches the highest point since the end of November

Bitcoin rose to $5,000 this Tuesday, the highest point since the end of November, while other cryptocurrencyes also increased.

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On the Bitstamp Stock Exchange in Luxembourg, bitcoin increased by 20% and for a few moments touched the $5,000 price to fall to $4,730.

It’s still the biggest increase in a day since April last year. Ethereum and XRP, two other major currencies also increased.

The reasons for this rapid growth remain unclear. The market value of bitcoin has increased significantly by 5.1 billion to 78.8 billion dollars.

It is the highest point since November 2018. It is a significant increase since it successfully passed three resistance levels of 4,200, 4,420 and 4,567 dollars.

Bitcoin is just one of the growing cryptocurrency. Ether and litecoin increased by 5.5% and 8.1% respectively.

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neOadviser – TECH

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Facebook may develop the WhatsApp function to transfer money through cryptos

Facebook may develop the WhatsApp function to transfer money through cryptos

WhatsApp has been working on a money transfer feature and a Bloomberg report has revealed that Facebook may schedule using crypto-currency to do so.

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According to the report, Facebook may plan to develop what is known as a “stablecoin“, which is a form of crypto-currency linked to the US dollar. The idea behind this is that it will help minimize any instability commonly associated with crypto-values, such as Bitcoin, which has been known for great fluctuations.

Facebook still does not officially acknowledge that this is something they are working on, but a company spokesman confirmed that Facebook is exploring ways to use blockchain technology.

“Like many other companies, Facebook is exploring ways to boost the power of blockchain technology. This new team is reviewing many different applications. We have nothing to share further. “

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neOadviser – TECH

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