#Bitcoin US Securities and Exchange Commission rejects 9 Bitcoin ETF’s requests. Published 3 months ago on August 22, 2018 By Coinnounce - Coin Announcements Share Tweet The U.S. Securities and Exchange Commission (SEC) has rejected an aggregate of nine applications to rundown and exchange different Bitcoin (BTC) exchange-traded funds (ETFs) from three distinct candidates, as indicated by three separate requests distributed by the SEC today, August 22. The dissatisfactions come one day in front of the foreseen due date, August 23, stipulated for a couple of BTC ETFs that had been put together by ProShares in conjunction with the New York Stock Exchange (NYSE) ETF exchange NYSE Arca. The SEC has now dismissed a further seven proposed ETFs close by the ProShares combine – these being five further proposed ETFs from Direxion, additionally to list on NYSE Arca – and two recommendations from GraniteShares, for posting on CBOE. For every one of the three dissatisfactions, the SEC has expressed that: “The Commission is opposing this proposed control change on the grounds that, as talked about beneath, the Exchange has not met its weight under the Exchange Demonstration and the Commission’s Guidelines of Training to exhibit that its proposition is steady with the necessities of the Exchange Demonstration Section 6(b)(5), specifically the prerequisite that a national securities exchange’s tenets be intended to avert fake and manipulative acts and practices.” The SEC has today strengthened its misgivings over deficient “protection from value manipulation” in an inadequately estimated BTC subsidiaries showcase. On account of ProShares’ two ETFs – and rehashed in the two other dissatisfaction orders – the SEC has expressed that: “In addition to other things, the Exchange has offered no record confirmation to exhibit that bitcoin prospects markets will be ‘markets of huge size.’ That disappointment is basic on the grounds that, as clarified underneath, the Exchange has neglected to set up that different intends to anticipate deceitful and manipulative acts and practices will be adequate, and consequently observation imparting to a directed market of huge size identified with bitcoin is fundamental.” As a Walk, 2018 enlistment explanation from the SEC noticed, “the [ProShares] Funds don’t expect to hold Bitcoin Prospects Contracts through termination, however rather plan to either close or ‘roll’ their individual positions.” This had been particularly assigned as a potential hazard for the two ETFs being referred to – notwithstanding the “extraordinary unpredictability and low liquidity” ascribed to both Bitcoin spot and subordinates markets. In the present three requests, the SEC has anyway outstandingly expressed that: “[The agency] accentuates that its dissatisfaction does not lay on an assessment of whether bitcoin or blockchain innovation all the more by and large, has utility or incentive as an advancement or an investment.” The SEC’s new objections resound the worries the office had officially verbalized in its underlying dismissal of a prominent Bitcoin ETF application from the Winklevoss twins in Walk 2017: “At the point when the spot market is unregulated – there must be critical, directed subsidiaries markets identified with the fundamental resource with which the Exchange can go into an observation sharing assention.” This July the SEC rejected the Winklevoss’ appeal to following their underlying application’s foreswearing, in which the twins assert that crypto markets are “extraordinarily impervious to manipulation.” In their dismissal of the request, the office said that “the record before the Commission does not bolster such a conclusion.” Toward the start of August, the SEC deferred its choice over yet another Bitcoin ETF application – this time recorded by investment firm VanEck and monetary administrations organization SolidX, for exchanging on CBOE. Quite, rather than proposing a Bitcoin prospect based reserve, the application proposed a physically-sponsored display, which will bring up the further issue of guardianship. Related Topics:Bitcoin ETFBitcoin ETF applicationBitcoin ETFsDirexionETFETFsGraniteSharesNew York Stock ExchangeNYSESECSecuritiesSecurities and Exchange CommissionU.S. Securities and Exchange CommissionUS SECWinklevossWinklevoss twins Up Next Ethereum Classic Price Analysis: ETC/USD fell below support. Don't Miss Tron Price Analysis: TRX/USD tumbling at the bottom, 23 August. Continue Reading You may like Bitcoin ETF: Worlds first Cryptocurrency ETF approved Spanked by the SEC: Paragon and Airfox ICO Will Bitcoin Price explode again? Aftermath of EtherDelta Charges by SEC 5000 BTC Lawsuit: Winklevoss Twins vs Charlie Shrem Security Token Offerings: STOs Replacing ICOs? 5 Comments 5 Comments Pingback: US Securities and Exchange Commission rejects 9 Bitcoin ETF’s requests. – Btc News Magazine Pingback: US Securities and Exchange Commission rejects 9 Bitcoin ETF’s requests. – The Coinage Times Pingback: US Securities and Exchange Commission rejects 9 Bitcoin ETF’s requests. | E-Bitcoin News Portal Pingback: US Securities and Exchange Commission rejects 9 Bitcoin ETF’s requests. | Pearl of Haiti Pingback: US Securities and Exchange Commission rejects 9 Bitcoin ETF’s requests. | Perle de Ayiti Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Tom Lee: Bitcoin will hit $15000 within next month Published 5 hours ago on November 21, 2018 By Layla Harding Amidst the cryptocurrency market crash, Tom Lee the founder and CEO of Fundstrat who earlier predicted bitcoin to hit $25000 this year still predicts that bitcoin will surely hit $15000 by the end of this year. Tom Lee stated his bullish prediction in an interview with CNBC. Tom Lee’s Bitcoin Predictions At the beginning of 2018, when cryptocurrency prices started to fall Tom Lee predicted that bitcoin will hit $25000 by 2018 end. In July this year, Lee restated his prediction to $22000 and again in August this year, he predicted the same $25000 price. In the interview, Tom Lee remains very confident about his statement about bitcoin reaching to at least $15000 this year. According to Lee, a regulatory clarification would surely increase the price of bitcoin this year. He said that cryptocurrencies with grow as the world will start adopting digital technology. BTCUSD 1 day chart The price of Bitcoin is currently making improvements and trading at $4674 according to CoinGecko. Bitcoin fell up to $4300 in the last 24 hours. Will Tom Lee’s prediction proves to be true and will bitcoin hit a $15000 mark this year end? What do you think? Tell us in the comments section below. Continue Reading #Bitcoin Big Whale Alert! 999992 TUSD just transferred to Binance Published 9 hours ago on November 20, 2018 By Nadja Eriksson The cryptocurrency market is experiencing huge losses from the past few days with all major cryptocurrencies dropping over 10% and bitcoin dropping down from $6400 to $4400 in just a matter of days. In such a situation where most traders and investors are panic selling, big whales are waiting just for the right moment to buy. Technical analyst predicts that the price of bitcoin is expected to see a correction in the upcoming days which would eventually lead to the correction in the prices of other altcoins as well. Just a few minutes back, one of the big whales just transferred 999,992 TUSD worth $1,023,030 to binance account from bittrex. The transaction hash of the TUSD transfer is: https://etherscan.io/tx/0x42686a6494e5831bcc694685a952b5624798d728c581ecd86382dd91b5ebcd32 In the past 24 hours, the cryptocurrency market has been experiencing huge trading volumes which predict that many traders and investors bought the coins at the current price which is a yearly low for most of the cryptocurrencies. Don’t Panic! A good trader should always think counterintuitively, that’s how winning is done. Warren Buffet the famous wall street trader has said: “be fearful when others are greedy and be greedy when others are fearful”. The current market conditions are going to make a lot of people seriously rich. So be patient, be careful and look out for opportunities. The market is a buyer’s delight right now and a sellers nightmare. Continue Reading #Bitcoin How To Reduce Energy Consumption In The Midst Of Crypto Popularity Published 24 hours ago on November 20, 2018 By Guest Author How To Reduce Energy Consumption In The Midst Of Crypto Popularity Electrical energy has become an integral part of everyday modern life. It’s used to power our bulbs and home appliances, trains, and even charge electric vehicles. Globally, its use is rising rapidly as different economies across the globe develop. Therefore, there is a growing need for energy which in turn continually drives the demand for electricity generation. For years now, most of the electricity consumed on a global scale has been generated from three energy sources: fossil fuel, nuclear, and hydro. Renewable energy sources such as photovoltaic (solar power), offer an alternative, albeit small, a share of the world’s electricity. However, our energy sources can have significant environmental impacts. Cryptocurrency Mining, Then Versus Now Back in the day, 2009 to be precise, Bitcoin mining was nothing more than a lucrative hobby for several crypto enthusiasts. Miners could leverage their CPUs to mine Bitcoin as they were enough. It was possible because the only hardware needed for mining was a simple computer and the number of miners was significantly low. In fact, in the early stages, Hal Finney and Satoshi were the only ones mining BTC through the use of several computers simultaneously. Satoshi mined 1,000,000 Bitcoins in the first week of the project, courtesy of several computers. At that time, the difficulty of mining was extremely low. However, over time, the problem has shot up drastically courtesy of Bitcoin’s rules and a change in new and advanced mining hardware. At the start, individuals would use CPUs (Central Processing Units) to mine BTC. CPUs represent the electronic circuitry within a computer. Back in 2009, a miner would generate bitcoins at a rate of 50 per block. Gradually, people made the shift to GPU mining which was comfortable and lucrative to use. Due to this, GPU mining became extremely popular, and in 2011, people started using them. Soon after, the mining difficulty increased, and by June 2011, people began using FPGAs (Field Programmable Gate Arrays). Shortly after that, in 2013, FPGAs gave way to ASICs (Application Specific Integrated Circuits) that have made BTC mining industrious. Currently, the Bitcoin mining process requires about 73.04 TWh of computational power to solve complex mathematical equations per year. This equates to about 0.33% of the total global electricity consumption. One Bitcoin transaction on average consumes about 916 KWh of electricity that could power about 31 US households. Mining is no longer lucrative for individual miners as setting up needs specialized mining rigs that are expensive to buy and operate. For instance, it would set a single Bitcoin miner back around $15,861 to mine one bitcoin in the Cook Islands near New Zealand. The cost rises to about $16,209 in the Solomon Islands located near Papua New Guinea. The prices of mining one Bitcoin further rise in Bahrain, Niue, and South Korea with amounts of $16,773, $17,566, and $26,170 respectively. Mining creates enormous electricity bills through energy consumption and cooling (and that’s on top of the cost of mining equipment and, nowadays, a facility to house your rows and towers of machines). The current BTC network is estimated to be consuming about 2.55 gigawatts (GW) of electricity annually which is enough to power a whole country. For context, the entire state of Ireland consumes an average of 3.1 GW of electricity. Potential Consequence of High Non-Renewable Energy Usage Greenhouse Gas Emissions The most well-known impact of increased non-renewable sources usage is the production of greenhouse gases mainly CO2 that is believed by many to contribute to climate change (though much of this is politicized hype). Different types of non-renewable energies produce different levels of greenhouse gases. For example, coal provides the highest amount of CO2 emission. It’s important to note that CO2 is plant food (and plants produce oxygen), is what every breathing creature emits when exhaling, and climate change (formerly Global Cooling, formerly Global Warming) is not agreed upon by scientists to be caused by human activity, as there are a myriad of other, likely much more influential factors, such as solar cycles. It’s also worth noting that climate change has always happened, with warmer and colder periods, and what has been hyped up in the last decade is a tiny percentage of what humanity has witnessed, without industry. Predictions of the world ending disastrously in a few short years if we don’t do something politically have fallen flat. It is worth noting that the above factor will also depend upon how efficient the engines using these fuels are, and filtering systems to reduce emissions. Modern technology can produce very efficient, low emission engines which use fossil fuels. Token Creation (PoW/PoS/DPoS) Proof-of-Work (PoW) is a term that’s usually used to denote the kind of concept that the Bitcoin network uses to validate and add transactions to the blockchain. It involves the use of ASICs in mining to solve complex mathematical algorithms otherwise known as PoW problems. Although PoW is excellent against cyber-attacks, it has a major limitation of high electricity consumption. Furthermore, mining rigs require top computing hardware that’s expensive to attain. Some of the projects using the PoW consensus algorithm include Bitcoin, Monero, Ethereum, Ethereum Classic, Bitcoin Cash, Zcash, Litecoin, and DogeCoin. Ethereum is intended to make the change from PoW to PoS via the Casper protocol. Proof-of-Stake (PoS), on the other hand, is an alternative way of validating transactions or blocks. It was engineered as an alternative to the PoW process that consumes an immense amount of energy. Unlike Proof-of-Work, coins are no longer mined but are forged or minted. Block validation is done by a select group of individuals known as validators. They are chosen depending on the age and amount of stake they hold within the blockchain network. Some of the projects using the PoS algorithm include Dash, QTUM, NEO, NavCoin, Stellar Lumen, Zcoin, and Stratis. Benefits of the PoS system include: Less expensive hardware is required. Transaction times are much faster. It is energy efficient as it doesn’t consume a lot of energy. Delegated Proof-of-Stake, otherwise known as DPoS, is a new and alternative protocol to both the PoW and PoS consensus algorithms. It’s mostly considered to be the most decentralized consensus model in existence today. This is mostly because every token holder has a degree of influence about what happens in the network. DPoS uses the power of stakeholder approval voting to promote consensus in a fair and democratic manner. Projects using DPoS include Lisk, Ark, Rise, Tezos, OxyCoin, Shift, Lightning BTC, and EOS, among others. Conclusion Blockchain projects around the world can help reduce energy consumption by taking alternative routes in the cryptocurrency mining process. First, blockchain projects can make the switch from the PoW system to the PoS system which is much cheaper and consumes less energy. Secondly, cryptocurrency miners can make the switch to cleaner and friendly renewable sources of energy such as solar energy. Lastly, blockchain networks can incentivize miners to use renewable energy resources by offering additional rewards for those that utilize them. Guest Post by Pawel Towczzk My name is Paweł Tomczyk. I’m a technology enthusiast and an early adopter. I’m the contributor in the blockchain ecosystem and various range of funds. I have been specializing in marketing and Fintech for six years. Nowadays, I’m the founder of Cyberius (www.cyberius.com), which specializes in content creation and crowdfunding. 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