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Apple Co-Founder Steve Wozniak on Bitcoin: ‘We’ve Seen Massive Value Creation’

Apple co-founder Steve Wozniak declared that he thinks “we’ve seen massive value creation” when asked about Bitcoin’s potential.

Apple co-founder Steve Wozniak declared that he thinks “we’ve seen massive value creation” when asked about Bitcoin’s (BTC) potential in an interview with Bloomberg published on Feb. 26.

When Bloomberg asked Wozniak if he still expects Bitcoin to become the world’s currency in the future — an idea he expressed in June last year — after “we’ve seen massive value destruction in Bitcoin,” the entrepreneur countered:

“I’m not sure I can buy that we’ve seen massive value destruction, I think we’ve seen massive value creation.”

Apple’s co-founder then argued that oftentimes psychology drives market dips, with fear in part determining price. Wozniak clarified that he was not interested in Bitcoin “as an investor” and that he “only had Bitcoin to experiment with,” clarifying that he had used the crypto as a form of payment.

Wozniak also noted that he had sold all of his Bitcoin “when it went up high,” reiterating what he had said last January:

“I don’t want to be one of those people watching the price of Bitcoin, so I sold out.”

The engineer added that he has never invested in any stocks nor used the Apple stock app.

As Cointelegraph reported in October last year, Steve Wozniak has been announced as a co-founder of  blockchain-focused venture capital fund, EQUI Global.

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Bitcoin’s Price Will Go Below $3,000, Anthony Pompliano Tells Mainstream Media

The Morgan Creek Digital Assets founder says that short term, Bitcoin has “lower to go” than its current levels of around $3,800.

Bitcoin (BTC) still has “lower to go” despite its bull run to above $4,000 last week, Morgan Creek Digital Assets founder Anthony Pompliano told CNBC on Dec. 26.

Speaking in an interview, Pompliano, who is also a frequent markets commentator on social media, became the latest figure to claim Bitcoin markets will only bottom out when the price drifts below $,3000.

“Short term, I actually think we have lower to go,” he told the network.

In November, Pompliano had predicted a plunge to $3,000 for BTC/USD, which subsequently occurred earlier this month.

Since then, prices across the crypto markets have taken off, with Bitcoin hitting its monthly high of almost $4,300 before correcting downwards to circle $3,782 at press time. Some altcoins gained much more, with Bitcoin Cash (BCH) and Ethereum (ETH) more than doubling their respective USD values in days.

Asked whether Bitcoin’s price was “correlated” with traditional or FAANG (Facebook, Apple, Amazon, Netflix and Google) stocks, Pompliano denied both assertions.

Like cryptocurrencies, FAANG stocks have tumbled in 2018, with traditional stocks following over the Christmas period.

“I definitely agree there are some psychological components at play as the stock market pulls down,” Pompliano continued, noting Bitcoin’s correlation with the S&P 500 was “zero” and “near zero” with the dollar index.

Last week, veteran trader Tone Vays warned that a close below the 50-month moving average would take Bitcoin down to at least $1,300, the high point of its bull run in 2013.

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Why Bitcoin, Ethereum and the Entire Crypto Market Are Down in Value

An opinion article on why the market is falling down

The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com.

The way I see it, investors in 2017 — and specifically in Q4 — wanted to buy Bitcoin (BTC) and Ethereum (ETH) for the sole purpose of exchanging it for specific ICO tokens they wanted to invest in. The buyers of Bitcoin and Ethereum did not want to own Bitcoin or Ethereum. They wanted to buy the newly issued initial coin offering (ICO) tokens, but they needed to buy Bitcoin and Ethereum as a short way to get what they ultimately wanted. The owners of Bitcoin and Ethereum did not want to sell. They were watching the price of their holdings increase, so why would they? They were also believers in Bitcoin and Ethereum. So, in a “bid-ask world,” the price went up.

Then, those startup companies that completed their ICOs became whales, which began — as a group — to unload their tokens in December and January, thereby flipping the dynamic of the huge demand for Bitcoin and Ethereum to all sellers of Bitcoin and Ethereum. After the New Year’s hangover faded, the startups needed to exchange their crypto for fiat in order to pay engineers and build their startups.

Then, it was a run-on-the-bank panic. Pressure from the United States regulators in Q3 and Q4 of 2017 resulted in a slowing and near total halt of ICOs by early 2018. After that, ICOs either stopped or radically slowed. New token issuers began to accept fiat without the need to pass through Ethereum, which killed more demand and left only sellers and “hodlers” and no buyers. In a “bid-ask world,” the market tanked. An interesting dynamic of the current market is that the prices of all cryptocurrencies are highly correlated to each other. Just look at the price of any token on CoinMarketCap, and you will notice a perfect correlation among the prices of most of them. Bitcoin and Ethereum go up and down together, and most other tokens are correlated in the same way. It shouldn’t be that way, but without any banks analyzing and reporting on these startups — the way they do for Apple, Amazon, Microsoft, etc. — that’s the way it is for now. So, Bitcoin can raise or drop the price of your token, but it now appears that gravitational pull works in both directions.

In 2018, something else developed. It became clear that all of these funded ICOs were not diligenced by real tech experienced angels or VCs — they were mostly not tokens you would really want to invest into. Previously, all of these coins were correlated to the rising price of Bitcoin and Ethereum, but now it is dragging them down. They are all correlated, and the big section of the overall market cap is sinking the ‘crypto ship’ in general.

Why Bitcoin, Ethereum and the Entire Crypto Market Are Down in Value

What will happen is that all of these weak startups will eventually be flushed out, and we will be left with some decent and even amazing companies. Today, the consumer retail investors of Southeast Asia and around the world are no longer gambling and throwing cash at the latest ICO to pitch at some blockchain event — or at least not at the volumes of Q4 2017. It used to be 20 percent institutional (VC) investors and 80 percent retail. Now, it’s 80 percent institutional investors, if not more. It makes sense to me that, if strongly branded VCs like a16z, Pantera Capital and 7BC.VC invest into a startup from their wide funnel of investments after conducting VC-grade due diligence, consumer retail investors will want to invest — following the VC’s lead in jurisdictions where this complies with local securities law (or, in the U.S., if the startup filed an S1, Reg A+, etc.).

Now is the time for the arrival of experienced VCs to raise real VC funds, generate large volumes of deal flow, process that deal flow with fully centralized and decentralized teams qualified to conduct proper due diligence, fund the best ones, as well as help these portfolio companies execute and manage investor risk via diversification and portfolio construction. We have seen a return to sane equity funding — and not just for tokens. Investors now own equity and tokens. Some “pure play” decentralized cases require only tokens — but again with real, old-school due diligence — before just throwing money around. We are also seeing a return to market valuations, rather than a team of high school dropouts seeking a $50 million or $100 million pre-money valuation without ever having met a payroll or accomplish any substance prior to getting that kind of valuation.

The new companies to be funded in 2019 — and to be listed in 2019, 2020 and 2021 — will be far better on average than the 2017 cohort, resulting in a rebound in the market. Experienced VC-backed entrepreneurs are now working on blockchain startups, which means the population of management teams has evolved beyond the original Bitcoin anarchists.

Bitcoin itself is resilient, proven by its survival of multiple Mt. Gox-type events and numerous up-and-down cycles. The long-term curve for Bitcoin is up and to the right. After the infamous coins run out of cash and disappear, the market will become much more robust. Many of the managers became delusional due to their experience of traveling the world and completing their ICOs, thinking that BTC and ETH would only go up and up while failing to exchange enough of their crypto for fiat. Not only did they have startup risk, but they foolishly added FX (foreign exchange) risk.

So, the good news is that these weak, never-should-have-been-funded startups will run out of cash sooner than expected, because their crypto is worthless when converted to fiat than they thought at the time they completed their financings. The flushing out of these coins currently weakening the market will drive the market up. Today, startups exchange their crypto into fiat the moment they get it.

Why Bitcoin, Ethereum and the Entire Crypto Market Are Down in Value

I also predict that we will see a few killer startups take off and generate mass adoption, which will bring mainstream users into the crypto world and — in a gravitationally correlated world — this will lift the tide of the entire market. We will probably see some video game become a huge sensation — like Angry Birds — or something that will drive the adoption of a token. I expect to see something else come along that no one ever thought of — like Skype — that everyone begins to use, which will pull huge populations into the crypto world, as the value will just simply be there.

It is imperative that all businesses move onto the blockchain so that no party can tamper with the numbers of how many “widgets” were sold or with who gets paid what. All business, government and health care data should be on the blockchain — and pretty soon, it will be unacceptable without it to enter into a business agreement and trust the other party to tell you how many widgets were sold in China, the U.S. or Africa. Once these business transactions or elections are on the blockchain and no one can tamper with the data, all sides can trust each other. The big picture here is that the market will see a major rally and long-term trend up and to the right.

2019 might be an excellent time to invest in a blockchain-focused VC fund or invest into blockchain startups taking on-board lessons from top-performing VCs that have a strong entrepreneur-experienced investment team with experience in achieving top-quartile venture capital IRR performance and cash-on-cash performance.

This article originally appeared on Andrew Roman’s LinkedIn page. The text was edited and condensed.

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Blockchain Startup Civic Appoints Apple Veteran as Executive Director of Identity.com

Blockchain startup Civic has appointed Phillip Shoemaker as executive director of its Ethereum-based decentralized identity platform.

Blockchain startup Civic has appointed Apple veteran Phillip Shoemaker as executive director of Identity.com, its Ethereum (ETH) blockchain-based, decentralized identity platform. The news was announced in a press release published Dec. 13.

Identity.com is Civic’s open-source, decentralized and tokenized digital identity ecosystem that uses smart contracts to provide on-demand, blockchain-based identity validation.

Shoemaker joins the initiative after working over seven years as senior director of the Apple App Store Review team, which he reportedly built “from the ground up, taking his team from 4 to over 300 employees,” under the company leadership of founder Steve Jobs. Since leaving Apple in 2016, he has worked advising multiple blockchain projects and startups.

The company has said the appointment comes at a “key time” as it prepares to add external organizations to its ecosystem, “both as collaborators and participants.”

According to the press release, Shoemaker’s responsibilities will include managing identity.com’s objectives and team growth, “defining the parameters around the Civic relationship,” and taking charge of establishing a “governance structure” for the ecosystem that prioritizes “trust and transparency.”

Shoemaker’s other past experiences include a role as developer relations director at the open-source, neuroscientific software engineering firm Numenta, which has been working to reverse-engineer the neocortex to study how the brain works and evolve approaches to enhancing machine intelligence.

As previously reported, Shoemaker is not the only Apple veteran to embrace blockchain innovation; in October, the tech giant’s co-founder Steve Wozniak was announced as a co-founder of recently launched blockchain-focused venture capital fund EQUI Global, having made a solid endorsement of Bitcoin this summer, arguing that it is the only “pure digital gold.”

In October, Civic announced that credit report repair service Progrexion, along with its subbrands law firm Lexington Law and consumer advice portal Credit.com were set to use its blockchain identity solution, with the Civic (CVC) native token surging 22 percent in value following the news.

As of press time, CVC is trading at $0.050, down just over 6 percent on the day, according to CoinMarketCap.

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XRP Transactions via Apple’s Siri Are Now Possible Thanks to an Independent Developer

XRP continues to cement itself as a multipurpose cryptocurrency with enough merits to be the most important altcoin in the market. A few days ago, an independent developer known on Twitter as xRpTo_O managed to develop an iOS implementation that allows users to send XRP with simple voice command.

iOS jailbreak and development scene has been a bit quiet lately; however, this has not stopped some developers from joining their passion for cryptocurrencies with the creation of software to facilitate the lives of users beyond what official apps have to offer.

In a video, the user communicates with Siri through voice commands in a natural way and sends 0.5 XRP to a user that Siri found in its database.

Although the video only shows money transfer, the developer has been adding several features over time. The app establishes a communication link between Siri and XRP TipBot making the app much more functional with every new release.

Ripple, Apple, and Alexa: The Big Giants Have Not Yet Given Their Thumbs Up to Hands-Free XRP Tipping

Although neither Ripple nor Apple are directly involved in the development of this app, its creation is a sign of the growing interest of the community in this cryptocurrency. While on previous occasions some critics of Ripple’s philosophy claimed that XRP did not have the necessary properties to be considered a true crypto, the recent increase in the number of users and the software developments that are being achieved to boost the use of XRP in everyday life are a sign that Ripple is successfully finding a space within the community.

The announcement comes one month after Nixer achieved a similar implementation in which he managed to integrate such service with Alexa.

However, despite the efforts of the developer, shortly after his submission, the application was denied by Amazon:

Right now, Ripple’s token is the second cryptocurrency in terms of global market cap, with a capitalization of $12,236,145,454. The token has suffered the same bearish run of the whole crypto market but actually, the gap between XRP and ETH has been increasing almost at a daily basis

The post XRP Transactions via Apple’s Siri Are Now Possible Thanks to an Independent Developer appeared first on Ethereum World News.

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Apple Abruptly Orders Coinbase Wallet to Remove Crypto Collectible

It seems iPhone users won’t have access to the crypto collectible craze anytime soon.

The news comes after forthcoming video game War Riders was featured on the Coinbase Wallet iOS app and then quickly withdrawn. In War Riders, players drive around an apocalyptic wasteland, building up armies of vehicles – vehicles represented by non-fungible tokens, or NFTs, on a blockchain.

According to screenshots obtained by CoinDesk, a Coinbase staffer told Cartified, the company behind the game, via Discord:

“Quick heads up – we will be removing from the iOS version as we’re not able to highlight dapps that facilitate purchase of digital goods.”

The Coinbase spokesperson explained that War Riders was the only app listed within the wallet that sells NFTs.

Notably, CryptoKitties, the famous decentralized application (dapp) for buying and breeding digital cats, isn’t even featured. Although War Riders and others remain listed on the Android version of the Coinbase Wallet app.

Stepping back, Apple has long had a complicated relationship with crypto in its app store. Coinbase was itself removed for a time early on (but that was a long time back). Plus an early game that allowed users to earn bitcoin for playing was also removed.

Viktor Radchenko, CEO of Trust Wallet, tweeted about the same problem in June.

“Experience with Apple is just terrible,” he told CoinDesk via Telegram. “No communication from their on how to work with NFT’s or even with cryptocurrencies.”

Yet, within Apple’s app store review guidelines, there’s no specific language forbidding NFTs precisely. Radchenko said Apple has indicated they are forbidden under its “In-App Purchase” rules.

Neither Apple nor Coinbase have responded to repeated requests for comment.

Featured dapps

The controversy started Monday after Coinbase enabled native hosting of the dapp’s NFTs on its app.

That was the first day War Riders got native support for its NFT on Coinbase, meaning users could not only find the game by name, but also, should they purchase an NFT, it would show up in the Coinbase Wallet, according to Vlad Kartashov, CEO of Cartified.

By late Tuesday night, Kartashov informed CoinDesk that War Riders was no longer showing up as “featured dapp” within the Coinbase Wallet at all.

While Cartified is not officially describing the gameplay yet, it’s currently selling premium vehicles, of which there are only 30,000 premium vehicles of a maximum 1,180,000 vehicles throughout the whole game.

According to Kartashov, it’s not for a lack of interest that the game got removed.

“We have a very thriving community on Discord, and people have already been forming clans even though clans have not been announced officially,” he told CoinDesk. 

Plus, the game itself seems well suited to attract fans of post-apocalyptic games, even those that are tired of the same old, same old design.

“These vehicles will also be modernized and will not be from the 70s like it is in the most post-apocalyptic games,” he said.

Another token

Beside the NFT, War Riders’ players will also use an ERC-20 token called benzene (or BZN) within the game as money. BZN will be released to players through caches that will be algorithmically generated by the game within its world.

But there’s a twist here. BZN will function as a more traditional cryptocurrency outside the game, but players that acquire the token within the game must use their vehicles to safely get the BZN back to their garage in order to use it in the real world. Other players will be able to steal it on the way.

Its premium NFTs will also come with full “tanks” of BZN, so it will be on the market in small quantities before the game goes live.

Speaking to Cartified’s mission for BZN, Kartashov said, “No BZN will ever be for sale. There’s no ICO or anything like that. We are only selling non-fungible tokens.”

Cartified is only running an NFT pre-sale right now. Buyers are not yet receiving the actual tokens.

Kartashov has not been able to get any more clarity about the specific objection from Apple to his app, but concluded:

“I’m not sure what’s exactly bad with people wanting to play games.”

Image of War Riders premium vehicle, “The Lambo,” courtesy of Cartified

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Here Is How Apple Has 20 Times More Lawsuits than Ripple, and its Stock is Still Worth $1 Trillion

To being this piece, the XRP community needs to be commended once again for bringing the above fact to light. Twitter user @Ianbins brought it to the attention of Ethereum World News when he stated the following in reply to another tweet. The initial tweet was with regards to the 3 pending lawsuits against the Ripple company. @Ianbins would comment the following:

Nice to know but Apple is in like 60 lawsuits…. it just turned a $1T it’s normal in big business.

The full twitter thread can be seen below:

@Ianbins was responding to a tweet that stated that one of the pending lawsuits against Ripple will be heard in federal court rather than in the Courts of the State of California where it was initially filed. This then means there is a possibility of the federal court ‘joining’ all three lawsuits into one to expedite the process.

60 Pending lawsuits against the Apple Co. that is worth $1 Trillion

This then brings us to the other fact that the Apple company is facing almost 60 class-action lawsuits for secretly throttling and/or slowing down old phones belonging to existing users. 60 pending lawsuits means that Apple is facing 20 times more court cases than Ripple yet it just broke the $1 Trillion market capitalization only a few days ago. The current market cap of AAPL stands at $1.01 Trillion at the moment of writing this.

Analyzing our favorite remittance coin of XRP, its market capitalization stands at $11.673 Billion at the moment of writing this. AAPL’s market cap has eclipsed that of XRP by 86 times yet it has more ‘trouble’ in the courts than the Ripple company.

Also to note is that XRP and Ripple are two completely different entities. Therefore, any lawsuits affecting Ripple, should logically not affect the value of XRP. In the case of Apple, its stock of AAPL is part and parcel of the parent company.

Therefore, it can be concluded that XRP has faced too much FUD due to the 3 pending lawsuits against the Ripple company which is a completely different entity. One explanation could be that the crypto-markets only became popular around June last year when the media started covering Bitcoin (BTC). In the case of Apple, it did its IPO back in December 12th, 1980 and at $22 per AAPL. Since then, the Apple company has more or less dominated the industry of computing and smartphones.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Swiss-Based Sirin Labs to Release Blockchain-Based Smartphone in November

Sirin Labs, a Swiss-based smartphone developer, will release a blockchain-based phone in November this year, the company told Cointelegraph on July 11.

In December 2017, Sirin Labs raised $157.8 million for the project during their Initial Coin Offering (ICO), with $110 million gathered over the first 24 hours.

Sirin Labs had also previously released a privacy-focused smartphone in 2016, with a market price of $16,000. The new blockchain-based phone, called Finney, is scheduled to go to market with an expected price of $1,000, Sirin Labs told Cointelegraph.

Based on the Android system, Finney will run on SIRIN OS and include a cold storage crypto wallet, a Token Conversion Service (TCS), and a multi-blockchain decentralized applications (DApp) store. The phone will be manufactured and developed at the Taiwan-based Foxconn Technology group, a major manufacturer of products from Apple, Google, Cisco, Huawei, and Amazon.

According to Nimrod May, the Chief Marketing Officer of Sirin Labs, Finney will be run on a multi-layer cybersecurity suite that will prevent users from “for example, [connecting] to a rogue network.”

May told Cointelegraph that the company intends to open their own shops worldwide, with locations in Japan, the US, and the UK. He also noted that Sirin Labs has plans to launch its own personal computer based on blockchain technology as well, which is “going to be even less costly than the phone.”

Cointelegraph reported in April that Sirin Labs hopes to license their technology to other phone manufacturers. According to an unconfirmed source, China’s Huawei is seeking a license for the open-source operating system SIRIN OS in order to develop their own blockchain smartphone that will support DApps.

The Opera web browser also announced this week that they are releasing a beta version of their service for Android that would include a native crypto wallet.

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Facebook Director of Engineering Moves to Same Position at Company’s Blockchain Team

Evan Cheng, Facebook’s Director of Engineering of three years, has now moved to the same position at the company’s recently established blockchain team, TechCrunch reported Friday, July 6.

The software engineer has updated his LinkedIn profile to reflect the newly acquired position, and the change has also been confirmed to TechCrunch by Facebook.

Prior to this, Cheng was heading Programming Languages and Runtimes at Facebook for about three years. Before joining the social media company, Cheng was working on back end engineering for the tech giant Apple for almost ten years.

Apart from taking the new position, Cheng is reportedly consulting a range of blockchain-related projects, including Singaporean blockchain platform Zilliqa and security-focused middleware provider ChainLink.

Facebook hit the headlines this January, when the company announced that it will ban initial coin offering (ICO) and cryptocurrency-related ads on its platform. It has subsequently relaxed its ban somewhat, re-allowing cryptocurrency projects to run advertisements.

The company’s head of messaging app David Marcus announced in May that Facebook has set up a team to explore the benefits of blockchain applications across the platform.

Last week, the Taiwanese subsidiary of multinational tech firm Microsoft announced it began working on a platform for enterprise blockchain development. In mid-June, Microsoft also revealed that it started developing a blockchain-based tracking platform in partnership with Adents, a provider of product serialization and traceability solutions.