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Update on Bitcoin Cash (BCH) and Bitcoin SV (BSV) withdrawals

Please find below an update on Coinfloor’s support of Bitcoin Cash and Bitcoin SV.

Bitcoin Cash (BCH)

As you may be aware, on 12 June 2019, we delisted Bitcoin Cash from our exchange. We would like to inform you that from 1st of December 2019, you will no longer be able to access your BCH balances and place BCH withdrawals through your Coinfloor account online and will need to contact Coinfloor Support in order to withdraw your BCH. The BCH balances you hold with Coinfloor after this date will incur a monthly hold fee and any withdrawals that are placed after this time will incur an administration fee.

Bitcoin Cash (BCH) withdrawal fees and monthly hold fees after 1st Dec 2019

Withdrawal fee will be calculated as the greater of 1% or 0.1 BCH.
Monthly hold fee will be calculated as the greater of 0.5% or 0.1 BCH (excluding the month of withdrawal).

Bitcoin SV (BSV)

If you held BCH on Coinfloor on 15th November 2018 4:40:00 PM (UTC/GMT), then we will be holding an equal amount of BSV on your behalf. We are now allowing the withdrawal of any Bitcoin SV held with us. If you haven’t withdrawn your BSV by the 1st December 2019, you will start incurring a monthly hold fee and all BSV withdrawals will incur an administration fee.

To effect a withdrawal, please contact Coinfloor Support. If you have already contacted us through our support page to enquire about this previously, we will be contacting you shortly to arrange your withdrawal.

Bitcoin SV (BSV) withdrawal fees and monthly hold fees

Withdrawal fee will be calculated as the greater of 1% or 0.5 BSV.
Monthly hold fee will be calculated as the greater of 1% or 0.5 BSV (excluding the month of withdrawal).
As Coinfloor has never officially supported BSV transaction processing, BSV withdrawal fees are set to a higher amount to partially cover the increased one off costs incurred by manually processing them safely.

This does not affect Bitcoin (BTC), Ethereum (ETH) or any other assets.

Please do not hesitate to contact us if you have any questions.

The Coinfloor Team

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Please find below an update on Coinfloor’s support of Bitcoin Cash and Bitcoin SV.

Bitcoin Cash (BCH)

As you may be aware, on 12 June 2019, we delisted Bitcoin Cash from our exchange. We would like to inform you that from 1st of December 2019, you will no longer be able to access your BCH balances and place BCH withdrawals through your Coinfloor account online and will need to contact Coinfloor Support in order to withdraw your BCH. The BCH balances you hold with Coinfloor after this date will incur a monthly hold fee and any withdrawals that are placed after this time will incur an administration fee.

Bitcoin Cash (BCH) withdrawal fees and monthly hold fees after 1st Dec 2019

Withdrawal fee will be calculated as the greater of 1% or 0.1 BCH.
Monthly hold fee will be calculated as the greater of 0.5% or 0.1 BCH (excluding the month of withdrawal).

Bitcoin SV (BSV)

If you held BCH on Coinfloor on 15th November 2018 4:40:00 PM (UTC/GMT), then we will be holding an equal amount of BSV on your behalf. We are now allowing the withdrawal of any Bitcoin SV held with us. If you haven’t withdrawn your BSV by the 1st December 2019, you will start incurring a monthly hold fee and all BSV withdrawals will incur an administration fee.

To effect a withdrawal, please contact Coinfloor Support. If you have already contacted us through our support page to enquire about this previously, we will be contacting you shortly to arrange your withdrawal.

Bitcoin SV (BSV) withdrawal fees and monthly hold fees

Withdrawal fee will be calculated as the greater of 1% or 0.5 BSV.
Monthly hold fee will be calculated as the greater of 1% or 0.5 BSV (excluding the month of withdrawal).
As Coinfloor has never officially supported BSV transaction processing, BSV withdrawal fees are set to a higher amount to partially cover the increased one off costs incurred by manually processing them safely.

This does not affect Bitcoin (BTC), Ethereum (ETH) or any other assets.

Please do not hesitate to contact us if you have any questions.

The Coinfloor Team

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Source: https://blog.coinfloor.co.uk/post/189011902381

Blockchain

Brad Garlinghouse Disagrees With Coinbase’s Zero Politics Stance

Ripple founder Brad Garlinghouse has voiced his opposition to the non-political workplace stance announced by Coinbase founder Brian Armstrong in September. Speaking to CNBC on Oct 26, Garlinghouse stated that he believes that tech companies have an “obligation” to be part of the solution to social issues. On Sep 27, Coinbase founder Brian Armstrong published […]

The post Brad Garlinghouse Disagrees With Coinbase’s Zero Politics Stance appeared first on BeInCrypto.

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Ripple founder Brad Garlinghouse has voiced his opposition to the non-political workplace stance announced by Coinbase founder Brian Armstrong in September.

Speaking to CNBC on Oct 26, Garlinghouse stated that he believes that tech companies have an “obligation” to be part of the solution to social issues.

On Sep 27, Coinbase founder Brian Armstrong published a highly polarizing blog post stating that Coinbase is a “mission-focused” company that will not emphasize or engage in social activism or political discussions in the workplace.

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The Great Coinbase Debate

BeinCrypto reported on Sep 29 that Coinbase banned all overt political activity in its workplace, stating its desire to be a company that focuses only on making good products and being profitable. Mixed reactions greeted the announcement, varying from enthusiastic agreement to angry condemnation.

Garlinghouse has become the latest high profile Silicon Valley figure to voice his opposition to the stance adopted by Coinbase. Garlinghouse told CNBC that he doesn’t agree with that position.

An excerpt from the interview reads as follows:

“We think about our mission as enabling an internet of value but we seek positive outcomes for society. I think tech companies have an opportunity — but actually an obligation — to lean into being part of the solution. The sad reality is — and I say this as a long-time veteran of Silicon Valley — some of these (societal) problems are, at a minimum, exacerbated by the tech platforms themselves.”

Head to Head

Shortly after Armstrong’s initial blog post was published, the company offered a severance package to employees who wished to leave due to the new policy.

The package included four months worth of pay for employees who had been with the company for up to three years and six months of pay for those who had been at Coinbase longer than three years.

It also gave these employees six months of health insurance through the Consolidated Omnibus Budget Reconciliation Act (COBRA). CNBC reports that roughly 5% of the company’s total workforce took this offer and exited. Armstrong reportedly claimed this as a victory for the “silent majority” within the firm.

Ripple on the other hand, is known to operate from the other end of the corporate political engagement spectrum. According to CNBC, the company actively promotes corporate activism in line with the thoughts expressed by Garlinghouse.

Among other things, Ripple is offering its employees paid time off to vote and volunteer in the upcoming Nov 3 U.S presidential election.

Source: https://beincrypto.com/brad-garlinghouse-disagrees-with-coinbases-zero-politics-stance/

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Blockchain

Bitcoin Just Had Its Highest Weekly Close Since Jan-18 While ETH Eyes $400 (Market Watch)

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After marking two consecutive yearly highs in the span of a few days, Bitcoin has calmed but still hovers over $13,000. Most alternative coins have remained relatively stable, and the market cap is yet to break above $400 billion decisively.

Bitcoin Stays Above $13k

Although Bitcoin started the weekend with apparent stagnation, the asset entered Sunday on a roll. BTC was trading at $13,100 but sharply exploded to a fresh 2020 high of above $13,350.

Shortly after, though, the cryptocurrency tanked in value, resulting in its intraday low of $12,900. Nevertheless, the bulls intercepted the price drop and drove BTC higher.

It’s worth noting that this was the highest weekly close of Bitcoin since January, 2018.

weekly_close
BTC/USD Historics Chart. Source: Twitter

In the past 24 hours, Bitcoin has been relatively stable. It reached a daily high of about $13,150 and has slightly retraced since then to $13,050. To continue its recent bull run, Bitcoin has to overcome the first resistance at $13,200. Further ahead, BTC could encounter obstacles at $13,400 before having a chance to challenge the 2019 high at nearly $13,900.

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Alternatively, $13,000 serves as the first support in case of a price break down. The following ones are at $12,700 and $12,500.

Market Cap Challenges $400B

The recent price increases have pushed the cumulative market capitalization of all cryptocurrencies to about $400 billion. The metric even surged above that level briefly yesterday but so far struggles to overcome it decisively.

Cryptocurrency Market Capitalization. Source: CoinMarketCap
Cryptocurrency Market Capitalization. Source: CoinMarketCap

Most alternative altcoins haven’t assisted in surpassing the $400 billion level in the past 24 hours. As the graph below demonstrates, most of them have displayed low fluctuations and even some retracements.

Ethereum spiked to about $420 a few days ago but has been gradually decreasing since then. ETH now trades just above $403. Despite a minor increase, Ripple is still around $0.253.

Bitcoin Cash (-0.9%), Chainlink (-2.7%), and Cardano (-1.7%) have lost value from the top 10.

BitcoinSV (5%) and Monero (4.7%) are the most impressive gainers from the larger-cap altcoins.

heatmap
Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident from Velas (20%), Filecoin (16%), and Quant (10%). In contrast, Ocean Protocol (-12.5%), ABBC Coin (-9%), Energy Web Token (-7.3%), Crypto.com Coin (-7%), and Ampleforth (-6.5%) have lost the most on a 24-hour scale.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-just-had-its-highest-weekly-close-since-jan-18-while-eth-eyes-400-market-watch/

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Blockchain

Alibaba Founder Jack Ma: Digital Currencies Can Create Value

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Founder and former executive chairman of the multinational technology conglomerate Alibaba Group, Jack Ma, believes that world regulators need to improve the legislation around digital currencies as they could create value.

Ma: Digital Currencies Could Create Value

In a recent speech reported by Bloomberg, the Chinese billionaire criticized the current global financial regulatory framework for its lack of innovation. He claimed that watchdogs are primarily focused on risk control, which has driven them away from pursuing any developments, and they rarely “consider opportunities for young people and developing countries.”

According to Ma, the Basel Accords are a “club for the elderly” that solves issues only for financial systems operating for years. Countries like China, which are still considered a “youth,” require more innovation to “build an ecosystem for the healthy development of the local industry.”

One area where regulators could increase their focus is digital currencies. Should the world’s watchdogs indeed improve their approach, virtual currencies could play an essential role in building a financial system that will be used in the next 30 years, he added.

“Digital currency could create value, and we should think about how to establish a new type of financial system through digital currency.”

Jack Ma. Source: Nikkei
Jack Ma. Source: Nikkei

He’s (Probably) Not Talking About Bitcoin

Although Alibaba’s founder didn’t specify what exactly he had in mind when using the term “digital currency,” his history suggests that it probably wasn’t Bitcoin. A few years ago, Ma warned people to be careful and said that he’s staying away from the primary cryptocurrency as it could “be a bubble.”

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However, he was significantly more favorable towards Bitcoin’s underlying technology – blockchain. The company he founded has been involved in numerous blockchain-related projects in the past few years. Alibaba even launched two DLT subsidiaries in Shanghai last year.

Additionally, a recent report highlighted that Alibaba is the firm with the most blockchain patents.

So, if Ma’s not referring to Bitcoin as the digital currency with value, he’s perhaps talking about the upcoming China CBDC. Alibaba has partnered with other giant Chinese organizations, such as China Merchant Bank, Tencent, and Huawei, to develop the nation’s central bank digital currency.

Besides, the world’s most populated country has also been openly pro-blockchain while reaffirming that Bitcoin and other cryptocurrencies are officially banned within its borders.

Featured Image Courtesy Of CNBC

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Source: https://cryptopotato.com/alibaba-founder-jack-ma-digital-currencies-can-create-value/

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