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Samsung Galaxy S10: Cryptocurrency and Blockchain Phones in the market

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The leaked Samsung Galaxy S10 was first reported by Samsung news outlet Sammobile that appear to show the rumored Samsung blockchain key store cryptocurrency wallet app running on the new Samsung Galaxy S10. The current claims are that it is going to be supporting bitcoin, bitcoin cash, and ethereum.

source: sammobile.com

source: sammobile.com

source: sammobile.com

 

 

Samsung is actually the most important player in the smartphone market, currently controlling a little more than 20% of the global phone market. Including a native wallet in the latest Samsung Galaxy S10 is really cool but we cannot expect this to make an overnight bull run happen. Just this phone coming to the market insn’t going to make bitcoin explode. For a lot of people who aren’t into bitcoin and who don’t know anything about cryptocurrencies may not actually get into that application until maybe a couple of years down the line but again we need these steps in order to get to a big scale global adoption. What Samsung’s offering could be super powerful because it is the biggest market for a smartphone. Just having those wallets is going to be amazing. If that Ethereum wallet can interface easily with Ethereum based Dapps, it would be quite awesome.

 

Other cryptocurrency phones in the market:

Cirin Labs Finney:

An expensive phone which is probably only made for the die-hard cryptocurrency enthusiasts. The cost of the device is around $1000. The phone is based on Android and the software provides a few benefits like integrated cold storage wallet, secured exchanged access, encrypted communications, peer to peer resource sharing and transactions on the Sirin Labs network. The Dapp store is focused on interchain operability allowing compatibility with applications from Ethereum, EOS, NEO and other platforms. But right now, we don’t see it grow big. Right now the Cirin Labs Finney is really based on people who are big-time enthusiasts of blockchain.

 

Pundi XPhone:

Pundi XPhone is another no-name brand in a super competitive market. At a very high price, the company is really going to struggle to sell the Pundi XPhone to people unless the people who are die-hard crypto enthusiasts. The Pundi XPhone is more than just a wallet. Every phone is a node on the network optionally bypassing centralized telecom operators. There are data packets and connectivity which are organized in a distributed peer to peer manner. Things like peer to peer file sharing will happen over the function X blockchain. The phone has a good focus on Dapp compatibility with Ethereum, EOS, NEO and others. It’s quite a good phone but at the current time and situation, it is made only for the die-hard cryptocurrency and blockchain enthusiasts. But when we see Samsung do something similar such as the upcoming Samsung Galaxy S10 and there is nothing stopping them from doing that it will make it very hard for phones like PundiX to compete.

 

HTC Exodus 1:

HTC is a name that a lot of people recognize but currently, they have almost no portion of the global phone market. So they are an irrelevant player when it comes down to it. Basically, the HTC Exodus 1 is providing a secure mobile environment for blockchain transactions and wallets by introducing a safe encrypted digital space separate from the main operating system. With the integration of HTC’s Zion Wallet, the phone will serve as a hardware wallet. A great marketing effort by HTC, a lot of people did talk about this but this isn’t anything different from what Samsung is offering in the Samsung Galaxy S10 right now. So most probably HTC is not going take the market by storm because they are not a popular smartphone anyway while Samsung is already a popular smartphone.

If people are looking for something really cutting-edge in terms of technology and something new, they are going to go with the Finney or the XPhone from PundiX because even though they are niche products but there are people who are going to appreciate that niche product. They are going to struggle to compete with the big boys like Samsung’s Galaxy S10 and maybe Apple in future but it is not to say that they are not going to sell their phones.

 

Huawei’s Bitcoin Wallet:

Huawei added a bitcoin wallet to its app store which has got a lot of people excited. Huawei controls 15% of the global smartphone market but it is just a bitcoin wallet in the app store and Samsung is still bigger. If Samsung goes big on blockchain enabled phones such as Samsung Galaxy S10 and they can provide easy use of Dapps then it’s going to put some serious pressure on any of the above-mentioned competitors.

Samsung made a filing just after Christmas with the UK intellectual property office. The name of the trademark was the Samsung Crypto Wallet. So the rumors and the leaked images are almost what is certainly happening with the Samsung Galaxy S10. Samsung is going to do the unpacking announcement of the Samsung Galaxy S10 on 20th February and the handset will go on sale on 8th March. It is going to be pretty cool to have a native inbuilt wallet on a popular brand of phone and adoption could be really big here if people use it.

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#Bitcoin

Alert: CME Bitcoin Futures Experiencing Record Breaking Volumes

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These days saw the highest and rapid increase ever for Bitcoin futures on the Chicago Mercantile Exchange as the amount exceeded 18,000. Institutional investors are paying attention to this as the bitcoin future contracts get snapped up at an ever-increasing rate.

 

Record of BTC Contract Size on CME:

As per the stats of CME they were 18,338 on Wednesday, which is the highest figure ever recorded till now. This is equivalent to 91,690 Bitcoins or roughly $365 million at today’s prices.

cme-futures-trading-volume

Upcoming contracts enable explorers to bet on the prices rather than to purchase the physical assets. So these figures might be a little misleading.

 

When the new product which offers the physically settled contracts hit the market, they will be paying out in BTC which will drive tremendous momentum for crypto markets. Over the past year or so the expectation of a crypto Exchange Traded Fund (ETF) being launched has been telecasted and dominated the news. The year 2018, has been the year of regulation and cooling off which was only to be expected after the previous year of rampant FOMO and parabolic market action.

 

This year 2019, is expected to be different as many industry experts predict the launch of at least one institutional investment vehicle.

 

As per the Block European exchange giant, Eurex is preparing to launch crypto and bitcoin futures so the list of institutional offerings is increasing rapidly. The cognate exchange is operated by Germany’s Deutsche Börse, which will be offering Bitcoin, Ethereum and XRP imminently according to the report.

 

Exchange traded funds are the future:

In addition to these future products, there is already one type of Exchange Traded Funds that are actually traded through an ETN (exchange-traded note) which allows investors to get direct exposure to Bitcoin prices. The Grayscale Bitcoin Trust (GBTC) crosses the technicalities of buying and storing Bitcoin but still allows investors to get into the action by buying shares that trade at around a thousandth of the price of BTC.

 

GBTC has been highly popular with over $800 million which is already invested in the Bitcoin fund.

 

Furthermore, Bitcoin is the most popular. The fund eliminates the volatility of buying and owning Bitcoin directly which is something that institutions want.

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Elon Musk: Cryptocurrency is the future, Paper Currency going to end.

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CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin.

Enthusiastic towards cryptocurrency also the CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin. Which clearly means Musk is in favor of the decentralized currency ( also known as cryptocurrency).

 

In one of the episodes of ‘On The Road To Full Autonomy With Elon Musk, which is hosted by Tasha Keeney, the CEO spoke and discussed the developments that Tesla shall undergo and also spoke about the cryptocurrency with regard the future of technology and finance.

 

When Elon Musk was asked regarding Jack Dorsey’s prediction, which was that the Internet shall be witnessing Bitcoin as its native currency soon, Elon Musk answered it and found it interesting.

 

He further said that the idea and also the structure of the Bitcoin is great and it seems like there is some advantage to Ethereum. Elon Musk is not sure whether it will be good for Tesla resources to get into cryptocurrency.

 

Elon Musk also said that Bitcoin and Ethereum scammers were so rampant on Twitter, he decided to join in and He said at one point that he wants to buy some Bitcoin. Then his account got suspended cause obviously there was some automatic rule, he then ended the conversation by saying that he was just joking.

 

A campaign was started by Twitter which deleted several bogus accounts for “coordinated manipulation,” and promotion of cryptocurrency scams, Elon Musk appreciated the website’s efforts.

 

Elon Musk added that the disadvantage of cryptocurrency is that the nature of production is energy intensive as regards to the mining process.

 

Keeney referenced to the terrible financial condition in Africa, where the restrictions on the currency stop the citizens from converting their currencies and forcing them to go through the US dollar. To which Musk replied that cryptocurrency is a far better way to transfer money or value rather than pieces of paper. Paper money is going away.

 

Even after Elon Musk’s positive statement on cryptocurrencies, his recognition for the structure and concept of Bitcoin and Ethereum and his confirmation that paper money will be replaced by the decentralized currency, the Tesla CEO made it clear that his company will not be selling Bitcoins.

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Tim Draper: Bitcoin Mass Adoption till 2021

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Tim Draper said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin.

Bitcoin is considered as digital gold or e-gold which has achieved dominance in the field of cryptocurrency. Tim Draper, who is the inventor of the Billionaire Bitcoin, predicted the rapid increase in the growth of the Bitcoin or cryptocurrency in the world and said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin. According to his prediction, the world is just 2 years away from when everybody shall start to use Bitcoin.

 

By 2023, Baristas would be laughing at people who shall make the payment of their purchase by using the currency other than the Bitcoin, Tim Draper added.

 

Even after having a large number of Bitcoins, Tim Draper has no plan to trade or sell any of his Bitcoin.

Tim Draper previously claimed and predicted that by 2022, the net value of Bitcoin will reach to $250,000 per coin. The prediction is also said to be the highest prediction coming from the industry of cryptocurrency. But Draper is still not clear on how this rapid growth will take place but he is enough confidence that there will be massive growth in cryptocurrency.

 

Recently the CEO of Twitter, Jack Dorsey also publicized Bitcoin.

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