Tag: Cryptocurrency

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Millennials Are More Interested in Cryptocurrency Investments, But They Do It Without Professional Financial Advice

According to a study ordered by the mobile payment platform Circle, aimed at Millennials, Generation X and Baby Boomers, and published on September 12th, Millennials men showed an interest in investing in cryptocurrencies by about 2.5 times higher than women. On the other hand, while 1 in 4 Millennials expressed interest in acquiring digital assets, in the Baby Boomers group the willingness to invest is by ten times lower.

The study considered the opinions of 3,000 people, segmented into three age groups, namely, Millennials, Generation X, and Baby Boomers.

The cryptocurrencies represent a greater attraction for the Millennials since a quarter of them admitted being interested in this type of digital assets, while only between 2% and 10% of Generation X and Baby Boomers are interested in cryptos.

The Millennials are more interested in cryptocurrencies market but are not willing to get professional financial advice for their investments

Those who invest the most are those who are the least willing to request the services of a financial advisor. Only 16% of millennials use one, while 40% of Baby Boomers seek professional advice to invest in cryptocurrencies. In the middle are those of Generation X, among whom 24% solicit professional financial help.

When asked if they are using an application for their investments, the situation is entirely the opposite as half of the Millennials use one, while 30% of Generation X invest via an app, and only 10% of the Baby Boomers do so.

In other words, a complex market like the cryptocurrencies market demands some kind of assistance, only that the younger ones prefer digital tools, while the older ones feel more comfortable with the help of a human expert.

Taking into account only those who invest in the cryptocurrencies market, the Millennials are those who risk more than the other two groups, since 29% of them have invested more than $1000, 29% have spent between $500 and $1,000, while the remaining 42% of the millennials have invested less than $500.

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Dash (DASH) Blockchain’s Blocks Exceeding 890 Kb Are Not Profitable for DASH Mining

Researchers at the University of Arizona published a study called Block Propagation applied to the Nakamoto network. The authors of that research recommend a maximum increase in block size to 5 MB, with a capacity to use of 890 kB per block, to keep transaction commissions at 0.01 DASH per MB and to make mining profitable under the current Dash (DASH) blockchain. The study used a simulator initially intended for Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE).

This simulator was modified to assume larger blocks and be able to analyze the scalability of the Dash (DASH) network. Additionally, it was established that the systems should have a minimum of 6,000 nodes in each simulation. The study lasted long enough for a minimum of 700 blocks to be executed, the researchers said.

For the study, the authors assumed that miners extract blocks of similar sizes. The research effort focused on three block propagation protocols, namely, a traditional block propagation in which the block is fully transmitted, one in which a compact block propagation called Cor16 is made, and an extra thin block propagation called “xthin.”

Blocks with a used capacity of more than 890 kB would not be profitable for Dash (DASH) mining

“With traditional block propagation, we recommend that the code limit on block size should not be greater than 5 MB and that you should not expect a capacity throughput much greater than 890 kB per block. It should be noted that users who include a higher rate can make blocks over 890 kB profitable for mining,” said Dragan Boscovic, Nakul Chawla, and Darren Tapp, researchers at the Blockchain Laboratory at the University of Arizona.

To reach this conclusion, the researchers assumed that all transactions would be 0.01 Dash (DASH) per MB with a mining reward of 1.67 DASH.

Among other conclusions of the study, the researchers state that the maximum block sizes of Dash (DAS) could reach 6 MB and even 8 MB using the compact block propagation method. With the “xthin” block propagation method, blocks could reach a size of up to 10 MB. The authors suggest that the network could go beyond 10 MB.

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PayPal Co-Founder, Peter Thiel, Believes Cryptocurrency Plays A Role In The Decentralization Of The World

The co-founder of Paypal and one of the leading investors in Facebook, Peter Thiel, believes that cryptocurrency can play a fundamental role in the decentralization of the world. During his speech at the international seminar called the 5th Forum on Freedom and Democracy, which took place last Monday at the Unique Hotel in Sao Paulo, Brazil, the American businessman explained that it is necessary to direct efforts to reduce governmental control over the Internet.

PayPal co-founder Peter Thiel’s speech focused on the crucial issue of decentralization in different areas of today’s society

“We need to focus more on decentralization to make the world less centralized,” he said. In his opinion, cryptos will contribute significantly to achieving this objective, since one of the main characteristics of these assets is that they are not controlled or regulated by any particular authority.

According to the entrepreneur, in the late 1990s, he was attracted to financial cryptography. However, he assured that he did not risk creating a system like Bitcoin (BTC) “because he would never be able to do anything like that.”

It is worth remembering that Peter Thiel has been one of the leading figures who has publicly expressed his optimism about the future of Bitcoin (BTC) and its technology.

Atlas Quantum and Foxbit, which both faced security issues in the past, sponsored the cryptocurrency summit in Brazil

The international seminar where Peter Thiel, co-founder of PayPal, made the comments, was organized by the Leadership Training Institute of Sao Paulo and Radio Jovem Pan, in Brazil. Among its sponsors, there is Atlas Quantum, a Brazilian company that offers investment services in cryptocurrency, which on August 25th discovered a security problem on its platform. On that occasion, the personal data of 264,000 customers was compromised.

On the other hand, Foxbit, a cryptocurrency exchange platform based in Brazil and also a sponsor of the before-mentioned forum, was the victim of a security failure that caused the loss of 30 BTC during the month of March.

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Tencent Banned WeChat Accounts Of Big Blockchain And Cryptocurrency Companies

The accounts of several companies related to blockchain technology and cryptocurrency in China have been banned from WeChat, the messaging application that belongs to the Chinese mobile and Internet company, Tencent.

According to information published in the local media, the accounts of companies that disseminate information related to this sector were permanently blocked in the application for allegedly releasing information regarding Initial Coin Offerings (ICOs) and cryptocurrencies market, in general.

WeChat banned the accounts of dozens of blockchain and cryptocurrency companies, including some big names

According to the press release issued by Tencent, the crypto- and blockchain-related accounts banned from WeChat were violating the “Interim Provisions on the Development of Public Information Services for Instant Messaging Tools.” The list includes Deepchain, Huobi News, Jinse, CoinDaily, Golden Finance, Firecoin Information, Cannon Rating, Coin World Express Service, Daily Currency Reading, TokenClub, and Wujie Block Chain, among others.

In this regard, the CoinDaily website, one of the affected companies, stated that they had more than 100,000 registered users on WeChat and that they were building and operating a community of 45 groups within the app. They claim that their accounts are market-driven, while they only provide qualified information.

Tencent company, WeChat devs, works closely with the Chinese government

The WeChat messaging application is one of the most popular in China and is considered the “Chinese WhatsApp.” Until now, it was one of the few tools that allowed Chinese citizens to participate in the cryptocurrency market and access news on this topic, given the ban on ICOs and related advertising in China.

However, its system facilitates the censorship of the contents published on its platform, since Tencent recognizes that it shares data on its users with the Chinese government and that it eliminates the content that the regime considers inappropriate. Last May, Tencent suspended the Xiai Xiexi, a new blockchain-based app that would allow WeChat users to store contractual agreements.

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CoinTree and Gobbill Teamed Up To Allow Australian Citizens Pay Their Bills With Cryptocurrency

Australian citizens who wish to pay their bills with cryptocurrency will have a new option to make these types of payments, thanks to an alliance between the CoinTree crypto exchange platform and Australia’s automatic payment and billing platform, Gobbill. According to the statement, the partnership will allow those interested in paying services and other household bills with cryptos to do so straightforwardly.

Australian citizens can pay their bills with cryptocurrency thanks to the alliance between CoinTree and Gobbill

Gobbill will perform the functions of an intermediary, using user funds and paying bills on their behalf, while CoinTree will allow the use of cryptos such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), among others.

“We anticipate an increase in the number of customers who would like to pay their bills in cryptocurrency in the coming years. Our partnership with CoinTree will serve this market and ensure that Gobbill remains at the forefront when it comes to allowing our users to pay their bills automatically, knowing that they are protected against fraud and scams,” stated Shendon Ewans, Gobbill CEO.

Gobbill users will be able to link their cryptocurrency wallet to their accounts to pay their bills, using crypto of their choice. The service is mainly aimed at small businesses and households.

Also noteworthy, this is not the first service of its kind in Australia, as, since 2014, the Australian startup Living Room of Satoshi has made it possible to pay bills with cryptos, and the list of its permitted tokens has grown over time.

Australia is going through a significant growth regarding cryptocurrencies uses and blockchain technology

In early August, Australian entrepreneur Fred Schebesta announced his intentions to create a cryptocurrency bank that could start operations in 18 months. The purpose would be to encourage cryptos ecosystem growth through loans.

Besides, in June, the Australian Tax Office (ATO) said it would identify investors in cryptocurrency to prevent them from evading paying taxes related to the purchase and sale of crypto assets.

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