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The Bitcoin’s impact on the entertainment industry

The Bitcoin’s impact on the entertainment industry

Website: https://bitcoinnews.com/

The Bitcoin’s impact on the entertainment industry

In 2009, the cryptocurrency Bitcoin started to change our lives and provided a new and exciting way of making payments online. It was a revolutionary approach, which allowed for moving money with a peer-to-peer transfer using blockchain. The rest is history. But the origins of the currency lie within the online community. Despite more and more land-based businesses adopting it, it is the online world where the Bitcoin was most needed and welcomed with open arms, first and foremost in the entertainment industry.

How did it all start?

In October 2009, the first Bitcoin (BTC) was sold and its value was not even one penny. In 2010, 10,000 BTC could have gotten you $ 25 worth of pizza. Not much, is it? Then in February 2011, the world got a first glimpse of the Bitcoin’s true potential. Its value rose by more than 1,000% to $ 1 per Bitcoin. In April 2011, it was possible to trade your Bitcoins into GBP, euros and other currencies. Soon after in May 2013, the Bitcoin made its first appearance in the online entertainment industry and Prime Dice was the first online casino to accept stakes placed in Bitcoin.

During the first three months after its venturing out into the gambling realm the casino made $ 15 million with Bitcoins. The cryptocurrency quickly found its place in the modern entertainment industry and nowadays people can even play online slots using Bitcoin. There’s a vast array of options when you want to try casino games such as fruit machines, blackjack or roulette with cryptocurrencies as some operators have even extended their portfolio of featured payment methods to Ethereum, Doge or Litecoin. The Malta Gaming Authority (MGA) has recently introduced a new law specifically designed for Bitcoin and other cryptocurrency transactions in online casinos. However, the potential of Bitcoin needs to be taken with a grain of salt as recent warning about scams show.

Not even a year later in January 2014, Bitcasino, the first Bitcoin online casino, opened its doors to players. It was also the first casino to operate with a full license. However, it is not only the gambling sector that opened up to cryptocurrencies. The gaming community found the Bitcoin very helpful as well. In December 2014, Microsoft accepted Bitcoins as a means of payment for the Xbox. In April 2017, the Bitcoin was equally accepted as a payment method for the gaming platform Steam.

What is the current status of the Bitcoin in the entertainment sector?

Since the early days in 2009, the Bitcoin has been adopted as a payment method throughout the online world. Regardless of whether it is online shopping or your tickets for the movie theatre, everything can be paid with Bitcoins nowadays. Online dating platforms and online game resellers made payments via Bitcoin available as well. However, it was in the online casino market where the Bitcoin had the biggest influence and changed the ways payments were processed. Even though there were casinos created entirely for the use of Bitcoins it did not take long until it could be seen that more and more providers accepted Bitcoins. It is estimated that since 2014 $ 4.5 billion have been used to place bets or play other online casino games. Bitcoin was such a success in this sector that in 2013 betting accounted for more than 50% of all transactions of the cryptocurrency. There are several reasons for the currency’s popularity with fees associated with credit card payments only being one of them. The Bitcoin allows casinos to receive payments fast and smoothly while players can withdraw their winnings the same way with no limits that need to be taken into account. As of 2017, statistics across 60 cryptocurrency-based casino and betting sites reveal that players are wagering 3 Bitcoins per minute with a total of 337 bet per second. For the period 2018-2022 analysts predict a further growth of 8.45%.

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Changelly Review: Is It Safe to Use?

Changelly Review BitcoinNews

Changelly is a popular cryptocurrency exchange founded in Prague, in 2013. With its simple interface, Changelly is convenient for beginners, as well as experienced users. You can use this platform to quickly swap cryptocurrencies as the name suggests, but you can also buy crypto for fiat currencies. In this Changelly review, we aim to provide all the necessary information you need to know before using this exchange, such as account setup, fees, customer support and security.

Account setup and purchase

To open an account on Changelly, all you have to do is provide your email address. Once you enter the platform, you can type in the amount and type of cryptocurrency you would like to exchange. Changelly then displays the best available rate and shows you the estimated amount you will receive. The rates aren’t fixed and the amount can vary due to market volatility. That means that sometimes you will get higher and sometimes lower final rate than expected. This has caused some negative user comments and reviews, but Changelly explains that it’s necessary in order to avoid high fees.

The next page shows in detail the exchange rate and approximate time of arrival. After you enter the wallet address, you will be asked to confirm the whole process, and the recipient’s address receives the funds in 5-30 minutes.
For a crypto-to-crypto exchange, Changelly charges a reasonable 0.5% commission.

With Visa and MasterCard debit or credit cards, users can buy Bitcoin and over 100 different altcoins. Changelly has a partnership with Simplex and Indacoin for processing all credit/debit card transactions. The whole process is self-explanatory, but you will be asked to provide your phone number and a three-digit code from your bank statement. After you complete the verification process, the transaction will be received in 5-30 minutes. The fee for buying crypto with fiat money is a little high, costing a total of 10%: 5% for the exchange and 5% for the card processor. On the other hand, Changelly does not charge withdrawal fees while some other exchanges do.

Privacy and security

Changelly follows KYC and AML procedures, and if your activity is flagged by the system as suspicious, your account will be put on hold and you will be asked to verify your identity. You will then have to provide a passport/photo ID and prove the origin of your funds as legitimate. All your data is collected and processed by two companies: Fintechvision and Sum & Substance.

Changelly does not hold funds on their platform, and all transactions go straight to the receiver’s wallet. They also use two-factor authentication and Google authenticator is required. This feature can be disabled, but it’s not recommended.

Customer support

Customer support can be reached via live chat and responses are usually received within a good timeframe. Another way to get help is to send them an email at support@changelly.com. They also have a solid FAQ section, where you can find the answers to most of the questions you may have.

Changelly review summary

As we have seen in this Changelly review, the platform is decent if you want to swap cryptocurrencies quickly. Trading fees are reasonable and, according to Changelly, their algorithm is looking for the best rates on large crypto exchanges such as Binance and Bittrex. However, you should always check a few different exchanges for the best rate.

Over the course of six years, Changelly appears to have gained the trust of more than 2 million users. Their reputation remains quite good and internet searches will reveal mostly positive comments. They don’t store funds on the platform, minimizing security risks. Moreover, they use 2FA authentication to prevent unauthorized access to accounts.

Overall, Changelly is a reputable platform that has proven itself trustworthy and is worth giving a try.

 

Disclaimer: BitcoinNews does not provide any warranties towards the accuracy of the statements in the above Changelly review. Any content on this site should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to perform your own research of the platform. Trading and investing in cryptocurrencies involves considerable risk of loss and is not suitable for every investor.

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Image Courtesy: Changelly

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HSBC and ING Announce Successful Utilization of R3’s Blockchain Platform

HSBC and ING bank have recently reported that they have utilized blockchain technology using R3’s Corda blockchain platform.

The banking conglomerates used the tech to achieve a transaction that oversaw soybeans, shipped from Argentina to Malaysia via Singapore. Additionally, a letter of credit between the two banks was issued directly from the R3 Corda platform.

HSBC and ING commented that the transaction was a success, demonstrating that blockchain technology had been used in a commercial and operational setting.

The trade finance industry is worth around USD 9 trillion. Using any number of conventional monetary means of managing these transactions can take days, with multiple parties included. With blockchain technology on a single platform, the transaction took less than 24 hours to be completed.

Credit letters are one of the most commonly used methods for reducing the risk involved between importers and exporters. These letters help guarantee more than USD 2 trillion worth of transactions annually, and it is a lengthy and time-consuming paper trail that can take between five and ten days to complete.

Vivek Ramachandran, HSBC’s head of growth and innovation stated, “Trade finance transactions have been made simpler, faster, more transparent and more secure. The need for paper reconciliation is removed because all parties are linked to the platform and updates are instantaneous. The quick turnaround could mean unlocking liquidity for businesses.”

The transaction was received well by third parties involved. “Blockchain is a key technology we are exploring and using with our customers and, now, using for ourselves with the completion of this transfer on Corda,” explained Rani Misra, regional treasurer, APAC, Cargill.

Events have led R3, the company behind Corda along with 12 other supportive banks, to further the reach behind this technology, in a hope to expand the network as a utility for the trade finance sector and to waive all paper-based documentation.

 

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Coinshares Chairman Danny Masters Bullish on Bitcoin Revolution

In a recent Bloomberg PNL podcast, Coinshares chairman Danny Masters took an in-depth look into the future of distributed ledger technology, security and regulation in the industry.

He said, “The distributed ledger technology that’s being pioneered by the development surrounding Bitcoin and other cryptocurrencies are really the democratization of transactions as in the same way when the internet appeared we saw the news and information traveling around without the need for news or big organizations as centers for distribution for the information. This is what is at the core of what makes this the revolution.”

Masters went on to talk about Coinshares as a digital trading asset hedge fund, allowing users to trade without actually owning any currency, hedging services or proprietary capital.

The Coinshares chairman defended the point that cryptocurrency was not causing a momentary global leakage in any leverage of fiat assets: “I think what is clear is that there was some regulatory sandbox, in which digital assets of all kinds existed. All the way from back when we started in 2013, right through the third or fourth quarter of last year”.

He said that when the crypto ecosystem was in the sub-10 billion dollar phase, it was still very experimental. But as the market rapidly approached a trillion dollars in late 2017, the media hype around it brought a lot of attention. Banks and governments could no longer ignore Bitcoin’s substantial potential for the future.

Masters is best known as the chief investment officer for Global Advisors. He manages over USD 800 million in crypto assets, leveraging Bitcoin certificates and selling them to Nasdaq in what is by far his most significant product pull.

 

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CNBC Fast Money’s Brian Kelly Will Still “Wanna Buy” Bitcoin at $20K

Brian Kelly, CEO of BKCM and CNBC’s Fast Money, has compared Bitcoin to Microsoft and Cisco in the late 1980s. Likening it to the internet, he pointed out that Bitcoin was not a company, but a public open source software, which was still in the very early stages.

Kelly went on to talk about the recent drop in Bitcoin markets, calling the bottom after it had seen some decent gains. He said, “So I think this is for real, we’ll know after April 17th if we can hold these gains, we’ll know how much of this tax selling impacted, if we use Tom Lee’s work we probably had 500 to 600 billion come off the market for tax selling purposes.”

When asked about the potential in the open source software that is Bitcoin, he stated that he used to think of it as the internet in 1995 but now has a better comparison in that it was the Internet in the late 1980s, being very early stages.

When put forward that Bitcoin was just “one big virus” and that the tech would never breach a new all-time high, Kelly responded, “When it’s USD 20,000 I wanna buy it.”

The #Bitcoin bulls are back in town! And @BKBrianKelly is watching one thing next week that could send the cryptocurrency higher pic.twitter.com/QRbN52XNDq

— CNBC’s Fast Money (@CNBCFastMoney) April 13, 2018

The analyst also backs Tim Draper’s 2022 price prediction of USD 250,000 USD, saying, “This is parabolic, but it would be a continuation of the trend that we’ve seen.”

Brian went on to talk about the use of Bitcoin as a currency and the damping down of the volatility, personally predicting its price to reach USD 25,000 before the end of the year should the network see a boost in transaction volume.

 

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Analyst Mati Greenspan Remains Bullish on Bitcoin as Wall St Builds Blockchain “Bridge”

In a recent Bloomberg broadcast, Mati Greenspan, eToro senior market analyst, saw positive signs for cryptocurrency, saying that the market was about to receive a new flow of liquidity from Wall Street.

Among many issues faced, volatility may not be one that Wall Street giants are used to but Greenspan says it has been in a consistent state of play since the very beginning.

He said,”The dip we’re talking about is actually nothing new for Bitcoin, as far as percentage terms go. If we look at it historically we’ve seen these type of pullbacks before, and definitely Wall Street is getting involved and they are building the bridges as we speak. Whether they go full on Bull or full on Bear, we don’t know, and they are ready to inject new liquidity into the market.”

Greenspan went on to explain that Wall Street missed the boat when it came to last year’s all-time high, with Chicago exchanges CBOE and CME launching Bitcoin futures right at the precipice in the Bitcoin high.

He reflected that the future of Bitcoin in the financial ecosystem would remain unknown, pointing out that the cryptocurrency operates as an individual entity, not part of the central banking monopoly.

Lightning Network

In December and January, the Bitcoin network experienced congestion due to the newfound popularity of the currency, inevitably causing some concern for the future of the coin.

Compared to two years ago when fees were next to nothing, the reporter commented that “it takes forever to get it through the system” during congested periods.

“Since then the price has come down, the interest has come down and right now if you were to send a transaction it would be instant, comparable to many years ago, this is why we need more liquidity in the market,” came the reply.

A new scaling proposal is currently being rolled out for Bitcoin in the shape of the newly-developed Lightning network protocol. It effectively creates a layer on top of the blockchain, enabling fast and cheap transactions which can settle payments off the blockchain.

 

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PR: May The Fork Be With You: Blockchain Casino Cloudbet Unveils Bitcoin Cash Giveaway

Bitcoin Press ReleaseLeading crypto sportsbook and casino Cloudbet becomes first to honour bitcoin fork

April 8th, 2017, London, UK – Leading bitcoin sportsbook and casino Cloudbet if offering its users the chance to share a considerable cryptocurrency windfall. Players who held bitcoin in their Cloudbet accounts on August 1st, 2017, at the time of the bitcoin fork, will receive the equivalent in bitcoin cash.

Cloudbet has set a precedent within crypto gaming by releasing funds tied to what is now the world’s fourth-largest cryptocurrency. The company is the firstbitcoin sportsbook and casino in the world (and the Galaxy) to honour the fork, underlining the credibility the platform has built since its 2013 launch in what has become a rapidly growing segment of the gaming industry.

Should they choose to, Cloudbet players will be able to use their windfall to take advantage of some of the best crypto odds and highest limits online, as Cloudbet have simultaneously launched betting with bitcoin cash. The move signals the platforms intention to offer crypto bettors more choice of coins with which to bet.

Mirio Mella, Cloudbet’s Head of Acquisition had these words to say about the platform;

“The creation of derivative bitcoin products in what are termed ‘forks’ has both practical and political implications. Cloudbet is focused on the practical; players want fast, cheap and reliable transactions, and BCH offers a great alternative to BTC. We have no position on the politics but instead are having fun with the Star Wars fork theme and will leave it to others to decide who is the Empire and who are the Freedom Fighting Rebels.”

Cloudbet will use the timestamp of the last common BTC block (block 478558; 1 August 2017, 13:16:14 UTC) to determine customers’ BCH balances; full details on the BCH fork.

About Cloudbet

Established in 2013, Cloudbet is the world’s leading bitcoin sportsbook and bitcoin casino platform, fully licensed and regulated with satisfied customers in over 100 countries. Cloudbet offers exceptional value odds and unrivalled bitcoin betting limits, while new customers also receive a generous 100% deposit bonus up to 5BTC.

Learn more about the Cloudbet website: www.cloudbet.com
Follow Cloudbet on Twitter for latest news and promotions: @Cloudbet
Find Cloudbet on facebook here – https://www.facebook.com/cloudbet
Join the Cloud bet community on Bitcointalk – https://bitcointalk.org/index.php?topic=333552.0;all
Check out Cloudbet on Reddit – https://www.reddit.com/r/cloudbet/

Media Contact

Contact Name: Christian Brown
Email: press@cloudbet.com
Location: Montenegro

Cloudbet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

About Bitcoin PR Buzz -Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over five years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

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PR: Hacken Launches Its Tokenized Bug Bounty Platform

Bitcoin Press Release: A decentralized cybersecurity company, which has grown from the promising Ukrainian startup, launches its long-awaited product, tokenized bug bounty platform, called HackenProof. The core value of the platform is ethical cooperation between white hat hackers and responsible IT and blockchain companies. As it is a tokenized platform, all transactions are conducted in custom-tailored token HKN, what contributes to its decentralization.  

April 03, 2018, Ukraine – HackenProof is a crowdsourced vulnerability rewarding platform enabling IT businesses, and blockchain companies to detect software bugs and improve the overall security of the infrastructure. Having remuneration in HKNs, researchers are the main stakeholders of the platform. Clients sign up for the bug bounty program, set the scope, decide on program type, set the level of payment, and wait for the reports. There are three primary benefits of HackenProof:

The cost of starting HackenProof is cheaper than hiring independent experts. Specialists with different levels of knowledge, mindset, tools and from various time zones attack client company’s resources in 24/7 mode. A clear report and analytics of the system’s vulnerable areas allow implementing more secure procedures. Hacken has already opened HackenProof for companies that needed it most. They are NEVERDIE, Interkassa, OSA, TicketsUA, and NapoleonX. The latter addressed Hacken after receiving blackmail from a black hacker who threatened to disclose their security flaw. Express bug bounty was launched, and no severe vulnerability was found.

Until April 31st, every project which orders bug bounty will be given 20% discount on the signup fee. If the first deposit is in HKNs, the project will be granted 50% discount. Sign up includes a free penetration testing of a product or system.

Dmitry Budorin, Hacken’s CEO said:

“Since the beginning of our project, Hacken’s mission has been improving global cybersecurity standards. That’s why we decided to integrate tokenized economy into the security field. We believe that this approach will help modern businesses to get services of better quality while spending less money. At the same time, white hat hackers will also get a significant financial benefit and appropriate working conditions.”

About Hacken

Hacken is a global tokenized business with operating cybersecurity products. In January Hacken’s token (HKN) has lined up with $8,32 (0,0005 BTC at that moment). In February, the price of HKN token reached its peak in BTC – 0.0008. It had a low market cup during token sale along with a low total supply of 5.6 million tokens. HKN’s price directly depends on the quality of the provided services, number of secured clients and overall size of the white hat community

Hacken’s security partners are Nucleus Vision, SingularityNet, Qbao, Remme, Legolas Exchange, Jibrel, SONM, CRYCASH, Indorse, Membrana, Kuna, Skraps, Neuromation, CCN, Amchart, Essentia, Selfllery, and Fluence.

The Hacken Ecosystem Contains other services as well:

  • Anti-phishing.
  • Smart Contract Audit.
  • Penetration Testing.
  • HackIT conference.

To learn more about Hacken visit their Website: https://hacken.io/
Meet the Team: https://hacken.io/#team
Follow on Medium: https://blog.hacken.io
Read on Reddit: https://www.reddit.com/r/hacken/
Chat on Telegram: https://t.me/hackenio
Connect on Twitter: https://twitter.com/Hacken_io

Media Contact
Contact Name: Katherine Lysenko
Contact Email: e.lysenko@hacken.io

Hacken is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz -Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

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PR: A Blockchain P2P Binary Options Platform Betex Improves Token Sale Conditions for Contributors

Bitcoin Press Release: Betex, a peer-to-peer platform for binary options, has announced the introduction of even more attractive conditions for investors. Those include distribution of all unsold tokens between the contributors, deployment of token smart contract, and implementation of a bonus system. The platform’s launch is planned for April. Starting from this moment, the investors’ profits will start being accumulated.

April 03, 2018, Hong Kong – Betex is the only platform where as much as 95% of funds are distributed among traders who succeed. Betex only profits from collecting service commission of 5% (thereby, 2.5% are transferred to the holders of BETEX tokens). The model of Betex is claiming to return credibility to the binary options market and has many key advantages compared to the traditional models. As a platform provider, Betex cannot engage in betting, which makes the process unbiased and immutable.

CEO of Betex, Oleg Torkhov commented;

“We at Betex would like to express our gratitude to all investors who have already joined our project, as well as all potential investors, whose feedback has allowed us to increase the investment attractiveness of our company. As a result of your suggestions and comments, we have successfully changed 2 main issues that many people were worried about.“

To let everyone take advantage of their updated attractive conditions, Betex has prolonged the token sale until April 15th, 2018. The company has deployed the token smart contract so that everyone can make sure that our words are not different from the code. Betex will distribute all the unsold tokens among participants of the Pre-sale Round 1, the Pre-sale Round 2 and the Main Token sale on pro rata basis. Therefore, demand will define the final price for every participant, which is fair enough. The new token sale details also envision a special bonus system according to which investors can get up to 20% bonus in tokens, depending on the purchase amount and date.

Despite the overall down trend on the crypto market, BETEX token is set to grow in value, because of the several reasons: a fair starting price (due to the auction), the platform’s launch, and independence of Betex operation from the cryptocurrency market in general. In April, Betex is planning to list BETEX token on exchanges and launch the company’s main product — a P2P binary options platform — in the main net.

Betex campaign also includes a special affiliate program, within which you can get 10% of the contribution amount of the referred users. According to the program, the payouts will be executed in ETH within 7-10 days. To participate in the Betex token sale and the affiliate program, users should simply register on the official website and follow the instructions in an intuitive dashboard.

About Betex:

Betex is a leading-edge platform for P2P financial derivatives trading. It enables users to place bets on future changes against each other. As a platform provider, Betex cannot engage in betting and only profits from collecting service fees. Betex users get instant access to all of its functions and features without having to make any kind of deposits first. Moreover, the payments are automatically released by smart contracts straight to the users’ ETH wallets, ensuring immediate withdrawals without delays or cancellations. Betex is raising funds for development and promotion of the platform. The company has already reached the soft cap within the token sale.

To learn more visit the Website : https://betexlab.com/
Meet the Team: https://betexlab.com/#team
Read the White Paper – https://betexlab.com/betex-wp.pdf
Chat with us on Telegram: https://t.me/betex_ico
Connect on Twitter – https://twitter.com/betex_tokens

Media Contact
Contact Name: Alex Kerya
Contact Email: pr@betexlab.com

Betex is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz -Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

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Liechtenstein to Bypass Heavy Crypto Regulations

Liechtenstein’s Prime minister has stated he wants to be at the forefront of the digital age, suppressing any burdensome regulations on blockchain technology.

The Liechtenstein government has the aim to provide its citizens with sensible but cohesive blockchain regulations; this will create a stable legal environment that will help further the country’s innovation within this sector.

While the matter remains uncertain in other countries, who aim to introduce blockchain and crypto laws steadily. With no global regulations insight from the recent G20 summit.

In a recent post, the Prime minister stated; “There is no point in creating regulations that are excessive and lacking in practical relevance because then the blockchain economy will simply develop outside the regulations. That surely would not be in the interest of any country. Therefore we want to propose a sensible regulatory approach utilizing this law, where the role of the state in creating legal certainty and confidence comes into effect where it is needed.” The new law will be passed by Liechtenstein’s Financial Market Supervisory Authority, which in the past has dealt with over 100 related inquiries within the blockchain sector.

The government gained notoriety, reviewing the legislation already in place, set by other countries, and is also in consultation with some fintech conglomerates. The PM expects the bill to be a fair-to-all law, once passed with the aim to present the proposal to the public this summer.

The prime minister also when on to urge that blockchain is the future and it can significantly change almost all aspects of our economic life and financial services.

In a Forbes article, Malahov one of the co-creators for ethereum had a chance to revisit the country, Malahov is a founder of Aternity and has based this new venture out of Liechtenstein. Stating ” Liechtenstein’s quaint valleys and fairytale castles are enough to attract any entrepreneur.”

 

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