Your Cryptocurrency Newsletter for 26 August, 2020

If you are interested in cryptocurrencies, this newsletter is for you. [Feedbinary cryptocurrency newsletter]  [Learn more about RevenueStripe...](   [Learn more about RevenueStripe...]( [img]( [FeedBinary Newsletter]( [Backing The Development of Bitcoin Core Infrastructure for ‘Sound’ Money]( This year has been a milestone for open-source development, as more organizations have contributed funds by way of grants and sponsorships.Supporting the open-source community continues to be a priority for OKCoin, which has enabled us to sponsor the development of the very infrastructure that we depend on as a crypto exchange. Our commitment to free and open-source software, or FOSS, has led us to provide three additional grants so far in 2020. Announced on Aug. 6, our most recent grant was awarded to Marco Falke, a Bitcoin Core maintainer and the most active contributor to the Bitcoin code since 2017. Sponsoring development of crypto infrastructure It’s been six months since we announced our first developer grant to a Bitcoin Core developer. In those months, we’ve witnessed the fallout from a global COVID-19 pandemic, and the strange and contrasting impact it has had on global communities and markets. While the general public has been pessimistic, experiencing hardship and loss, equity markets have been rising, with the Federal Reserve significantly increasing the money supply. These flaws in the existing economic systems have only served to further solidify the importance of cryptocurrency and Bitcoin (BTC) as an alternative, “sound” currency. We’ve also been inspired to heighten our role in supporting the open-source development of cryptocurrency infrastructure. Collectively, OKCoin has now provided over $500,000 in grants to open-source developers. Having provided these grants, we’ve been pleased to see other organizations get involved in supporting Bitcoin Core developer sponsorship as well. FOSS sponsorship is growing We’re excited to see the level of interest increase among a varied group of organizations, each of which views crypto from a different perspective. Optionality and partnership are very important in maintaining the independence of the developer community. This is why we partnered with BitMEX on our recent grant to Amiti Uttarwar, who has made strides in her work on Bitcoin’s peer-to-peer layer. Uttarwar’s contributions have strengthened Bitcoin Core, making the codebase more secure for everyone sending transactions. Stronger infrastructure for “sound” money Money is the foundation of our society, and OKCoin is committed to building crypto for the long run. Therefore, we think it’s a natural concept for us to support the developers who contribute to making Bitcoin a stronger candidate as “sound” money. We’ve continued to focus on supporting Bitcoin Core with our latest sponsorships because we see great externality in Bitcoin Core. The development of Bitcoin supports the entire industry in the forms of education, validation and adoption. There may be many different versions in the future where crypto is impactful, but one of the most exciting versions may have a distributed and trustless monetary system, for example, Bitcoin, as a fundamental layer. On top of the new monetary system, a distributed and trustless financial system and a distributed and trustless society could emerge. To do that, Bitcoin needs to scale. Fabian Jahr, OKCoin’s first grant recipient, worked on accelerating remote procedure calls in the UTXO set — this is just one example of the direct impact developers have on building essential Bitcoin infrastructure. Bitcoin’s success is our success, so we don’t see developer grants as an obligation or as a donation. We see these grants as an investment in our future. Free and open-source software benefits everyone, and supporting it is particularly critical in crypto. An open network of knowledge Connecting with and backing Bitcoin developers has been a community effort, with a lot of knowledge shared among sponsors. Chaincode and Square Crypto have been very helpful to our efforts at OKCoin, and in order to strengthen this initiative, we’ve been happy to share what we’ve learned through the process with Kraken and others. While not all grants are done in partnership, sponsoring open-source development is ultimately a collaborative initiative. We’ve been open about what we’ve learned because we believe it’s healthy to build a community sponsorship matrix for FOSS development. Incentivizing open-source developers The funding model that exists today for open-source work is based on corporate grants and financial backing. While corporate objectives may align with the work that FOSS developers are focused on, the credibility of their contributions to decentralized networks relies on their ability to function autonomously while being financially supported. We believe that allowing developers to do their work without conditions improves the quality of full-time developers committed to open-source development and ensures that the community of developers operates collectively and transparently. It’s on us as an industry to ensure that the right incentives are in place to attract and keep the best talent to help grow Bitcoin and the crypto industry. Just as companies are continuously developing, so too is the Bitcoin codebase. There is still much work to be done, and it’s important that the organizations that rely on the infrastructure support this work. It also matters how financial backing is provided; without strings attached, allowing developers to focus on what they believe is most crucial. We’re proud to have sponsored three independent developers and the BTCPay Server project and look forward to continuing to support the open-source community. [Read Full Newsletter]( The post [Backing The Development of Bitcoin Core Infrastructure for ‘Sound’ Money]( appeared first on [Feed Binary](. [Read Full Story]( ------------------ [Bitcoin Investor Files For Giant $350 Million IPO For Possible Merger]( The founder of early bitcoin venture capital firm Ribbit Capital has filed for a massive $350 million initial public offering. While little is known about the company, called Ribbit LEAP, CEO Meyer “Micky” Malta could use the increasingly popular “blank check” structure to effect a merger, acquire assets, purchase stocks, or reorganize a similar business, according to the SEC S-1 form filed today. To give an idea of the kinds of work Ribbit LEAP might do, the Cayman Islands-based company, short for Ribbit Capital Long-Term Equity Acquisition Pool, identifies its predecessor’s mission among the “guiding principles” in the filing. Namely, the firm will pursue financial services similar to the $2.6 billion Ribbit Capital’s existing portfolio, including $8 billion cryptocurrency exchange Coinbase, $11.2 billion Robinhood, and $1.2 billion Figure Technologies. This is just the latest in a series of recent filings to create similarly structured special purpose acquisition companies (SPACs), including Virgin Galactic SPCE -0.8% and Draft Kings to do a wide range of unspecified actions, but frequently to merge with another similar company. “We view partnership with management teams as a commitment for a decade or more,” according to the filing. “Because of this we are focused on long-term value creation, and we seek to partner with investors with the same orientation.” Though the filing includes no details about how exactly Ribbit might use the public entity, a look at their past provides interesting insights. The Palo Alto, California-based firm was founded in 2012 to invest largely in financial technology startups. Since being an early investor in cryptocurrency’s first unicorn, Coinbase, Ribbit Capital has built a portfolio of over 75 private and public company investments including Brex Inc., CreditKarma, MercadoLibre, Inc. MELI +1% Robinhood Markets, and Zillow Group, Inc. Z -0.9% (NASDAQ NDAQ -1.1%:ZG). While many of the investments have crypto services, Xapo, a custody firm in-part acquired by Coinbase in August 2019, Multicoin Capital and FBG Capital are all focused almost exclusively on the space. Certainly, the fintech space generally speaking stands to be impacted by the planned IPO, but for the cryptocurrency community the move marks another sign of maturity for one of its earliest supporters. In July, the former sanctions chief to U.S. president Donald Trump joined Ribbit Capital as a general partner after helping the government investigate three North Korean hacker groups that used bitcoin to launder funds. The S-1 documents show that $402.5 million in Class A shares were sold for $10 each, before approximately $52 million in fees brought the total amount raised to $350 million. Currently, all $350 million worth of shares are available, according to the documents, though Ribbit is pledging a minimum of $100 million in a forward purchase commitment. While there is currently no public platform to trade the securities, the firm intends to apply to have the units listed on the New York Stock Exchange. JP Morgan is listed as the sole book-running manager. [Read Full Newsletter]( The post [Bitcoin Investor Files For Giant $350 Million IPO For Possible Merger]( appeared first on [Feed Binary](. [Read Full Story]( ------------------ [What Are the Advantages of Cryptocurrency Trading?]( Today we are going to tackle the subject of cryptocurrency trading, this virtual currency is among the assets of the financial market.Cryptocurrencies. We talk about it all over the place, and for good reason: with Bitcoin as a proud representative covering a colossal unit amount, and the other digital currencies that are racing daily, there is enough to crystallize attention around the subject. But, beyond speculation and sometimes sensationalist media headlines, what really are cryptocurrencies? o understand cryptocurrencies, it is essential to understand the concept of blockchain. Under this obscure term hides an operation in fact quite simple. The blockchain is a sort of gigantic digital ledger. This account book is heavily secured. As a result, each time someone wants to consult a transaction it contains, it has to be decrypted, which requires electrical and IT resources. Decentralization requires, it is the users who are called upon to validate transactions. They are called “minors”. But any work deserving of pay, these users had to be paid. This is the reason Bitcoin was created. Miners are therefore paid in Bitcoins for the work they do, i.e. decryption of the blockchain. It is impossible to talk about cryptocurrencies without mentioning their starting point. It all started in 2008 with a certain Satoshi Nakamoto, whose real identity is still unknown, so much so that it is not known whether it is a person or an entire corporation. Still, this good Satoshi gifted us with a scientific and technical document of almost 10 pages, entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. A complicated read if it is for those who are not really versed in somewhat technical digital practices, but who present and describe the principle of operation of the blockchain. A swear word that is not really one, because it is on this famous blockchain that we now hear all the sauces that a large number of current cryptocurrencies are based. The idea of ​​cryptocurrencies is to be able to serve decentralized applications. That is, applications that do not depend on a third party that will govern operations and other transactions (for example, an application that will manage file storage, or car races, financial transactions, etc.). It’s sort of a new model for creating, funding and operating software services, but decentralized – a very important word in the concept of cryptocurrency. But can they be a promising trading commodity? Trading is one of the most profitable and attractive investment transactions in the financial and stock market. Indeed, the trading trend is overwhelming the world and making investors and traders wealthy! Today we are going to tackle the subject of cryptocurrency trading, this virtual currency is among the assets of the financial market. This article will, therefore, contain the details of this new exchange operation, but also the major advantages offered by cryptocurrency trading. Cryptocurrency trading is actually speculation on the price of that currency, which can go down or up at any time. One of the major advantages of a cryptocurrency trading operation is the fact that it is characterized by extreme volatility, very interesting and which can make this investment one of the most profitable! The cryptocurrency market has only entered the arena for a few years now, but it has interests and benefits that we will not find in the traditional financial or stock market under any circumstances. It is often said that the cryptocurrency market is very speculative in the short term, which means that the increase and decrease in the price of a cryptocurrency is remarkable over a short period (1 year for example). This volatility is often noticed when talking about an investment in anything related to new technologies, the latter are of remarkable speculative interest. The volatility of cryptocurrencies is one of the specifics that make this market so interesting and exciting, it gives traders the opportunity to position their investments well if they put in place good equity strategies. The major advantages of a crypto transaction From a liquidity point of view of the financial market, the cryptocurrency market is considered to be an illiquid market. This characteristic means that there are no specific platforms for carrying out these transactions. You have the possibility to invest in cryptocurrency and trade on different platforms; So this is the number one reason that this type of investment and this market is very volatile. But it is just as possible to find trading platforms that allow cryptocurrency transactions to be executed quickly (very liquid) and for absolutely nothing (very low cost). This therefore has the advantages of cryptocurrency trading, but there are a lot of them that we tell you about below: Through cryptocurrency trading, the investor has the opportunity to position themselves to sell or buy crypto with the expectation that the value of the latter will increase and then resell it.They can also use a Bitcoin trader app to increase their chances of success. Cryptocurrency trading is a transaction characterized by leverage, this is a great advantage as it gives you the opportunity to invest and take a position in the market with a minimal amount compared to the estimated value of the transaction. Cryptocurrency trading allows you to make very interesting and relatively large gains compared to what you put in when taking a position in the market. A trading strategy is the key to the success of this kind of operation, but when it comes to trading cryptocurrencies, the trader will not need very in-depth prerequisites to be successful in this new operation. [Read Full Newsletter]( The post [What Are the Advantages of Cryptocurrency Trading?]( appeared first on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ Connect with TheFeedBinary on Facebook and Twitter [fb](  [tw]( ------------------ You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. Want to change how you receive these emails? [Update your preferences]( or [Unsubscribe](