What is Cryptocurrency?

As defined by cryptocoinsnews.com:

“A cryptocurrency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often referred to as Altcoins.

Put another way, cryptocurrency is electricity converted into lines of code with monetary value. In the simplest of forms, cryptocurrency is digital currency.

Unlike centralized banking, like the Federal Reserve System, where governments control the value of a currency like USD through the process of printing fiat money, government has no control over cryptocurrencies as they are fully decentralized.

Most cryptocurrencies are designed to decrease in production over time like Bitcoin, which creates a market cap on them. That’s different from fiat currencies where financial institutions can always create more, hence inflation. Bitcoin will never have more than 21 million coins in circulation. The technical system on which all cryptocurrencies are based on was created by Satoshi Nakamoto.

While hundreds of different cryptocurrency specifications exist, most are derived from one of two protocols; Proof-of-work or Proof-of-stake. All cryptocurrencies are maintained by a community of cryptocurrency miners who are members of the general public that have set up their computers or ASIC machines to participate in the validation and processing of transactions.”

For more details on the history and other details of Cryptocurrency, please follow the source link below.

Source: https://www.cryptocoinsnews.com/cryptocurrency/


Populous Moves Ahead With Successful Beta Launch

If you’re looking for a good example of how blockchain & cryptocurrency is a revolutionizing and disruptive technology, look no further than the Populous (PPT) platform. Yesterday marks the first time in history that an invoice was successfully sold on the blockchain and it was done on the Populous platform. The invoice allowed over 15 different investors to come together and “group bid” on the invoice which totaled approximately £190,000.00. Those lucky enough to get in on the first invoice should see a return of approximately 3.3% over 30 days.

The long-awaited launch of the beta platform went rather smoothly for the first invoice. The initial success of the beta platform has undoubtedly resulted in a large number of signups on the platform of those looking to participate on the history-making platform. This can be confirmed by the chatter of eager participants in the PPT Telegram chat which has many users chomping at the bit to become verified on the platform, which will allow them to participate.

Here is the recent Medium article from the Head of Marketing at Populous, Lou Chan.

For more information on the Populous platform, visit the official website at populous.co and the beta platform at beta.populous.co

PPT ICO price was approximately $0.33 before hitting the exchanges in the middle of 2017. At the time of writing it’s trading at $23.50 with an all time high of $75 at the end of January 2018.

Price history: https://coinmarketcap.com/currencies/populous/historical-data/?start=20130428&end=20180503 



Populous signs exclusive partnership with Komodo. – Populous Platform – Medium

As detailed in the Medium article below, Populous has signed an exclusive partnership with Komodo. Komodo has a decentralized exchange which utilizes their tech to perform cross-chain atomic swaps. This is big new for both parties and should bring great flexibility to the Populous platform during beta when it goes live.

London, Monday 26th March 2018

Source: Populous signs exclusive partnership with Komodo. – Populous Platform – Medium

Crypto Trends & Forecasting at top20cryptos.com

We’ve discovered some interesting and pretty accurate forecasting for the Bitcoin / crypto space over at http://www.top20cryptos.com/ We like their reports so much that we decided to post about it and link to their site. Head over, check out their site and perhaps grab one of their reports. They seem to be worth it! You can also follow Marius on Twitter for updates https://twitter.com/Landm_Marius

Populous(PPT) Beta Imminent

The long awaited release of Populous beta platform should be released any day now. Given that it was delayed from the Nov/Dec of 2017 and the new target was set for the end of Jan 2018 (which is upon us) it could be today or within the next couple days. The PPT team has long stressed that they wanted to have a solid beta release and get things right the first time.  (See our previous post here to learn what Populous is.).

PPT is one of the few cryptocurrencies that has actually increased in value throughout this latest bear trend and is currently trading around $65 (as seen by the 6 month chart below).


One big reason for the stability of PPT is the promise of passive income that the platform offers with an estimated return of 3% monthly on the low end (returns could range from 2.5% to 6%). Approximate passive income can be calculated by the following formula:

((X x Y) x .8) x .03) where:

  • X = number of PPT you hold
  • Y = PPT price
  • .8 represents 80% which is the percentage of your PPT holdings the platform will allow you to use for purchasing invoices.
  • .03 represents 3% monthly return example (as stated it could be as high as 6%)

So, holding 1000 PPT at a price of $65 could return anywhere from $1560 to $3120 per month by using the platform & purchasing invoices. Clearly this gives incentive to accumulate and hold PPT as it’s one of the few coins that currently has a real world application (or will very soon). Given the potential returns and projected increase in the PPT token price for 2018 & beyond, it’s easy to see why it has retained value so well.

Related links:


WARNING!!! HitBTC Withdraw Issues Mounting

It has come to our attention that Bitcoin exchange HitBTC is having withdraw issues of ERC20 tokens. We first discovered this ourselves when a withdraw of PPT was “stuck” in their system with the now all too-well-known 3 yellow dots (now approaching 70 hours at time of writing). However, oddly enough we were able to successfully withdraw ETH shortly after the PPT withraw which went through without issue. Upon further research we discovered this thread at the HitBTC forums which may explain the issue. From the thread:

“I think I can provide some insight to what the problem is. All of the ethereum based tokens HitBtc had been sending out at 20 Gwei, and with Eth they were sending out 60 gwei. I experienced two Ethereum transactions go through before my one Veritaseum transaction (which has been pending for days now).

The hash ID was real, I even was able to see it initially pending, and I saw the 20 gwei in the system. Then the transaction was kicked out of the pending status and likely replaced by transactions with higher gwei.

It was negligent to process ERC 20 tokens with a 20 gwei in light of the congestion that the network was experiencing, when you simultaneously sent 60 gwei transactions for the ETH. Yet you provided a warning for ETH withdrawals, but mentioned no warning on the tokens (which apparently you guys send at 20 gwei)…”

Further browsing in the support forum reveals a rather concerning number of other users experiencing the same issue. Adding to that concern is that there has been no official response from HitBTC regarding the issue (that we have seen). We have not seen a response to our ticket from support ticket (#63293) and it seems other users with this issue are in the same boat. Hopefully the lack of response is a result of them working to resolve the issue and not a sign of a more serious problem.

Share this post to your social media accounts and tag HitBTC when you do. Hopefully this will prompt an official response.

The Futures Race – CBOE Accounces Futures on Dec. 10

In what seems like a race to the “futures” CBOE (Chicago Board Options Exchange) has announced they plan to launch Bitcoin trading futures starting at 5:00 PM CST on December 10th. From the announcement:

“Cboe Futures Exchange, LLC (CFE) plans to launch trading in Cboe bitcoin futures at 5:00 p.m. Central Time on December 10 under the ticker symbol “XBT”. This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.

CFE will be waiving all of its transaction fees for XBT futures in December 2017. For more information on pricing, visit the CFE Fee Schedule page.

XBT futures are cash-settled contracts based on the Gemini’s auction price for bitcoin, denominated in U.S. dollars. Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian founded in 2014 that allows customers to buy, sell, and store digital assets such as bitcoin…”

As widely reported in late October, CME group also announced their plan to offer Bitcoin futures with their latest plans to start trading the 2nd week of December. It appears that Nasdaq may take 3rd in the futures race as they plan to launch as early as the 2nd quarter of 2018, as reported by CNBC

Bitcoin futures has created a lot of questions around what it will do to the price of Bitcoin. We should have the answers to those questions in a matter days or weeks.