Tag: Ethereum (ETH)

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Crypto Real Estate

Ripple (XRP) Accepted As Cryptocurrency Payment Method On Propy For A $16 Million Property In Silicon Valley

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are the most popular among crypto enthusiasts and now they are all accepted as payment methods for the acquisition of 27 acres of land in Los Gatos, in California, as recently Ripple (XRP) has been accepted by Propy Inc as a cryptocurrency payment method.

Any announcements with regard to the adoption of cryptocurrency are particularly appreciated in this period of turmoil in the cryptocurrency market that has witnessed Bitcoin (BTC) drop to its current record low of $7,000. BTC is now trading at $7,241, at the time of this article. On the other hand, Ethereum (ETH) is currently traded at $533 and Ripple (XRP) is down to levels under 60 cents and quoted at $0.57.

Via Propy Inc, a real estate business committed to addressing cross-border real estate purchase challenges, a property appraised at $16 million may be acquired with BTC, ETH or XRP.

Propy Inc accepted Ripple (XRP) as a new cryptocurrency payment method for a $16 million property

The announcement has been made via a tweet on the official Propy Inc page on the social networks, which reads:

Great news! We added XRP as a cryptocurrency accepted at Propy, starting with a rare investment opportunity to acquire one of the last large pieces of city land in Silicon Valley! $, BTC, ETH and now #XRP are accepted. The offer is exclusive on #propy:

The property listed on the Propy Inc’s website features a thorough description of what it offers and also admits the acceptance of Ripple (XRP) as a cryptocurrency payment method, along with Bitcoin (BTC) and Ethereum (ETH).

BITCOIN & ETHER and XRP ACCEPTED! Welcome to Los Gatos! Located on Shannon Road, this rare 27-acre site near the top of Los Gatos is now for sale.

This property is the first on Propy to accept cryptocurrency payment in Ripple (XRP) but the real estate company is optimistic other properties will follow.

According to the current XRP value against the USD, one would need around 27,9 million Ripple (XRP) to acquire the property.

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Crypto

Ethereum (ETH) Dropped 8% In The European Trading Session But Is Correcting Upwards

SEC news will determine the future of the Ethereum (ETH) project but other cryptocurrencies may also be affected. The ETH is now quoted at around $745 and its immediate support is $700, while a $680 level will provide stronger support.

The US cryptocurrencies regulators have been sending mixed messages for some time now

The Securities and Exchange Commission (SEC) has not been clear that some cryptocurrencies are security tokens. Last week, the Ethereum (ETH) team brought to the attention of the US regulators that today, May 7th, is the day that SEC and CFTC officials have to release the cryptocurrencies classification.

Ethereum co-founder, Joseph Lubin, recently said that impending regulations could shape the future of Ethereum tokens. However, he added that they were not at all concerned about classification as a security asset. Lubin said in a commentary:

We spend a great deal of time with lawyers in the U.S. and other countries, and we’re pretty sure it’s not a security asset; it’s never been a security asset.

On the other hand, Micheal Piwowar, a commissioner at the SEC, has a different point of view:

Is an ICO a security asset? So far, as our president has said, everyone he has looked at, everyone I have seen, is a security. Bitcoin (BTC) itself is not a security but these custom tokens for these initial coin offers, most of them are. There are some legitimate things going on and then… Literally, there are frauds.

Ethereum (ETH) price analysis

Ethereum (ETH) price is correcting upwards, trading now at approximately $745, after falling briefly below the $700 level in today’s European trading session when the ETH/USD dropped about 8%.

The gap between the moving averages is narrowing to indicate that the ETH/USD could continue to roll back to the $800 level. On the upside, therefore, the next target is the $760 level, as the first level for upward correction, the $740 level has been achieved.

On the downside, immediate support has formed around $700, while below this level, the $680 zone is a great support highlight.

Thus, Ethereum (ETH) is suffering today because of the SEC latency in giving a clear classification of cryptos but also due to the fact the Japenese announced stricter cryptocurrency regulations, thus affecting the whole cryptocurrencies market today.

 

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Crypto

Cryptocurrencies Market Is Declining As Japanese Regulators Announced Much Stricter Cryptocurrency Regulations

Cryptocurrencies market have generally declined today, May 7th, as concerns about Japan’s cryptocurrencies regulation have offset indications that South Korea could curb its restrictions. At the moment of this writing, in descending order by market capitalization, Bitcoin (BTC) has dropped by 1.94% in the last 24 hours and reached $9.397, according to Bitfinex cryptocurrency exchange, the Ethereum (ETH) has fallen by 5.27% to $745 in the last 24 hours, while the Ripple (XRP) has dropped by 4.64% to the $0.82 level.

Furthermore, the Bitcoin Cash (BCH), the product of a bifurcation of the Bitcoin (BTC) and currently the fourth crypto coin by market capitalization, has recorded a decline of 5.48% in the last 24 hours hitting the to $1,638 level.

At this moment, the single cryptocurrency for top 10 which is appreciating is the EOS (EOS).

Cryptocurrencies market is declining due to the announcement of much stricter cryptocurrency regulations coming from Japan

Japan’s Financial Services Agency will implement strict guidelines for local cryptocurrency exchange platforms to prevent another cyber attack in the crypto-verse, according to reports coming out at the end of the last weekend.

The FSA will present a “five-point plan” to strengthen regulations for cryptocurrencies transactions which will include stricter security standards such as double authentication for coin transfers and a system to ensure that coins are not stored in online wallets as these are prone to piracy.

A more thorough “know your customer” process would also be developed to prevent money laundering, according to reports.

Japan’s implementation of stricter cryptocurrency regulations has shadowed the more encouraging news that the governor of South Korea’s Financial Supervisory Service, Yoon Suk-Heun, is considering lessening up the local cryptocurrency regulations.

“The Financial Supervisory Service (FSS) will collaborate with the Financial Services Committee (FSC) when an inspection of financial policies and institutions has different configurations relating to different areas. FSC inspects policies, while FSS examines and supervises financial institutions but under FSC supervision,” said Yoon.

In short, cryptocurrencies market is in decline today, with all the major cryptocurrencies showing losses, due to the new announcement that much stricter cryptocurrency regulations will be implemented in Japan.

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Crypto

Ethereum (ETH) To Reach $15,000 By The End Of 2018 As Reddit Rehabilitates Cryptocurrency Payments

In an interview this week, Chris Slowe, the CTO of Reddit, stated that they will rehabilitate the Bitcoin (BTC) payments service that had been suspended at the end of March and will also add Litecoin (LTC) and Ethereum (ETH) payments. On the other hand, Reddit co-founder stated that Ethereum (ETH) will reach $15,000 by the end of the year.

Reddit to rehabilitate the cryptocurrency payments on the platform

In an interview with the Cheddar portal about the redesign of the Reddit platform, the company’s technology director said that users, who since 2013 can pay for the site’s premium membership with Bitcoin (BTC), will be able to do that again in the near future, but this time they will also be able to use Litecoin (LTC) and Ethereum (ETH).

In addition, the company’s CTO revealed that the changes made by Coinbase to develop its Coinbase Commerce, a payment tool similar to PayPal, had hampered the use of cryptocurrencies on the platform.

Coinbase is doing a great job, is doing a major revitalization of its cryptocurrency payment platform. We just didn’t have time to update our current API integration, and once the redesign of Coinbase Commerce lands, I think we’ll see the cryptocurrency payments again on Reddit.

Christopher Slowe, the CTO of Reddit

The Reddit co-founder on Ethereum (ETH): Will worth $15,000 by the end of the year

On the same day Slowe announced new plans for cryptocurrency payments on Reddit, Fortune published an interview with the Reddit co-founder, Alexis Ohanian, in which the businessman was very enthusiastic about ETH and predicted its future price.

At the end of the year, Bitcoin will be worth $20,000. And Ethereum will cost $15,000.

Alexis Ohanian

The ETH prediction is quite ambitious, as the crypto is trading around $761, at this moment, according to CoinMarketCap, so by December of this year, it would have to increase 20 times its actual value.

Ohanian justified his position by saying that he is “very optimistic about ETH simply because people are taking advantage of it”, and referred to the great popularity of CryptoKitties, which raised a total of $12 million in their first round of funding.

In short, Reddit will rehabilitate cryptocurrency payments but this time will integrate LTC and ETH, besides Bitcoin (BTC). Additionally, the former Reddit CEO, Alexis Ohanian, threw an ambitious forecast on the ETH price, predicting that the Ethereum (ETH) will be worth $15,000 by the end of the year.

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Crypto Markets

Ripple (XRP) And Ethereum (ETH) Could Be Nominated As Securities

Gary Gensler, the former director of the US Merchandise Futures Trading Commission, recently announced at the MIT Blockchain Conference that regulators have a “strong case” against Ethereum (ETH) and Ripple (XRP) cryptocurrencies. A case that aims to clarify the classification of these two digital currencies, because apparently there are those who claim that they are “unregistered financial values”.

Ripple (XRP) and Ethereum (ETH) should be considered values by the way in which they were issued

In the case of XRP, the currency is created by a central organization. ETH, on the other hand, was issued through an ICO (Initial Currency Offer), according to Gensler. These qualities, he says, are framed within the vision of issuing and trading shares of a company.

The representatives of Ripple and Ethereum Foundation have publicly rejected that XRP and ETH cryptocurrencies are financial values. Similarly, the researcher and lawyer Peter Van Valkenburgh believes that Gensler is not taking into account the evolution of these cryptocurrencies.

According to Van Valkenburgh, the Ethereum Foundation of 2014 and the actual company are currently distinguishable because, although the ICO carried out four years ago can adjust to the status of financial value, the way in which the network works at this time it has changed radically.

Ripple company denied having a direct influence on the Ripple (XRP)

However, the connection of the Ripple company with the cryptocurrencies market worries several exchange houses, as the Securities and Exchange Commission (SEC) warned that all cryptocurrency exchange platforms that accept assets rated as securities must be subject to the corresponding legislation.

Currently, the classification of cryptocurrencies as financial values in the United States is shallow. This is why we must take into account that Gensler’s statements take place in a complicated legal landscape and with an imprecise use of terms.

The verdict on the classification of these two cryptocurrencies is still uncertain, however, there are indications that the SEC might be receptive to Gensler’s argument. A possibility that could mean the illegalization of the use of both Ethereum (ETH) and Ripple (XRP) in all the cryptocurrency exchange houses that are not registered with the SEC.

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