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Thursday, 15 February 2018

Kurecoin: A Coin from Africa by Africans to the world

A Coin from Africa by Africans to the world
A brand new cryptocurrency coin is launching with the mainstream African user in mind. KureCoinHub, a self-service banking platform built into a decentralised system based on smart-contracts on the Ethereum blockchain. It has been described as the largest cryptocurrency project in Africa.

KureCoin was created as an investment solution to help Africans rise above the poverty line, by developing a unique access point for the mainstream user into the cryptoeconomy.
The KureCoinHub is a trifecta of a bank, an exchange platform called KUREX and the coin called KURECOIN. KureCoinHub runs on a highly secure system, built with the proof of stake algorithm based on Ethereum smart-contracts, which have been said to be perfectly suited to direct buyer-seller interaction.

According to the founder and CEO, Tega Abikure, KureCoin was created to function as a much easier way to buy and sell. His team identified an opportunity to use blockchain technologies to solve problems such as access to capital by creating a system of zero collateral loans using your crypto assets; leveraging on the ease of transaction and exchange of bitcoin, alt coin and Naira or other local fiat currency.

The KureCoinHub platform is poised to solve the problems of current payment systems, which involve too many intermediaries and impose many restrictions, especially when it comes to international payments.

KureCoinHub entered the marketplace with a Pre-ICO, soon to be followed by the ICO phase and plans to continue to gradually improve the hub which is the bank. Soon, the Hub will have enough functionality for people to start selling/buying coin. Then we have our exchange coming soon.

On the ICO, Tega Abikure said, “As an investor, my primary need is to get my money to work for me. An ICO offers the public that opportunity. This is a revolutionary ICO aimed at solving the problem of liquidating your bitcoin in order to access cash denominated in local or fiat currencies. We wanted to solve real a world problem, not just try to reinvent finance away from the traditional banking system.”

The ICO is not aimed solely at crypto investors, but for the larger banking industry. Built with wealth creation for the African individual in mind, investors in KureCoinHub are set to receive competitive returns on their investments. KureCoinHub is poised to be the first blockchain bank, launching with a range of products and services, including lending against an individual’s crypto-based assets and KURECOIN.

KureCoinHub restricted the maximum number of subscribers at the Pre-ICO to a limited number of people in order to provide an individual approach and maximum security within the available resources. The hard cap for the ICO is 
60,000 ETH, which the team believes is what is needed to release a finished product backed by good marketing, legal organization and community management.
KureCoinHub is also trying to tackle the global perception that Africans are fraudulent with this move. “We want Africans to know they can trust Africans; we want the world to know that there are African men who can be trusted. Our company is based in Lagos, Nigeria. We are always on all media platforms speaking to people about the need to do the right thing. ICO scam is not exclusive to Africa, it happens on every continent”, said Abikure.

For more information and a chance to be part of this click https://kurecoinhub.io/ 

Tuesday, 6 February 2018

Bitcoin Miners Face Dilemma as Only Strongest Survive at $6,000


By Justina Lee (Bloomberg)

Bitcoin Miners face dilemma.

Bitcoin miners face a reckoning as the cryptocurrency’s tumble wipes out profits for all but the industry’s most efficient operators, according to Bloomberg New Energy Finance.
Only miners with access to “very cheap” electricity of about 6 cents per kilowatt hour or less can stay profitable after Bitcoin slumped to $6,000 on Tuesday, said Sophie Lu, an analyst at Bloomberg New Energy Finance in Beijing. 
If Bitcoin stays this low for more than a couple of weeks, miners with high operating costs will leave the market, she said.
“There are definitely some miners who are already out of the money,” Lu said, adding that the industry’s most efficient players can keep going until $3,000.

Bitcoin’s meteoric rise to nearly $20,000 last year prompted hordes of new miners to enter the fray -- everyone from individuals with a single machine plugged into their bedroom wall to companies with giant server farms powered by hydroelectric dams. With prices in the stratosphere, the Bitcoin-denominated rewards that miners received for verifying transactions more than covered the cost of electricity and computing power.

But the economics are much less compelling now that prices have tumbled and the difficulty of mining Bitcoins has increased. The industry’s daily revenue plunged to $16 million on Monday from a record $53 million on Dec. 17, according to Blockchain.info.
“If you buy mining equipment now, it’s no longer profitable,” said Zhou Shuoji, a founding partner at FBG Capital, a Singapore-based cryptocurrency investment company.

In theory, Bitcoin should find support as its price approaches the cost of mining a new coin, 
Zhou said: The cryptocurrency’s value is also a function of its demand, and right now that’s looking shaky as worries over tighter regulation around the world send investors for the exits.


Saturday, 13 January 2018

Uncertainty! As Cryptocurrencies struggle to stay affloat...

Uncertainty as Crytocurrencies slip this week

Cryptocurrency news this week: By Solomon Esor.


Cryptocurrency markets fell this week as a string of bad news pummeled markets fresh off of new highs.

Let’s break down what happened, and why it shouldn’t impact the long-term trajectory for cryptos.

It began on Monday, when news circulated that China is reportedly looking to reign-in domestic mining operations. Chinese mining operations currently account for nearly 79% of all bitcoin mining globally.

As reported by the Financial Times, a multi-agency task force issued a statement in early January directing local governments to pressure mining firms to reduce operations.

In response to the directive, Chinese miners have reportedly begun looking to relocate operations abroad — in locations with cheap energy and cool climates, which is beneficial for cooling electronic components.

China has a history of attempting to intervene in cryptocurrency markets...

In late 2017, the government moved to ban fundraising via initial coin offerings and subsequently ordered cryptocurrency exchanges to cease domestic operations.

Separately, in a release on Thursday, Reuters reported that South Korean officials plan to ban cryptocurrency trading.

Of course, South Korean enthusiasm for cryptocurrency investments has exploded in recent months. The east Asian country currently accounts for nearly 20% of all bitcoin trading globally.

So the report rattled cryptocurrency markets, sending prices of ethereum and bitcoin down by more than 10%.

Now, the report was later discredited. Officials from other branches of the government clarified that no immediate ban was being considered.

And markets responded positively to the clarification. But the uncertainty continued to weigh on markets by late Thursday afternoon.

A Dilemma for Regulators


This won’t be the last time regulators will attempt to step in and police this market.

As this market continues to grow, the potential risk to the real economy grows more likely.

Regulators will increasingly be tempted to protect their own interests and safeguard their citizens.

However, regulators have a dilemma…

They can try to ban cryptocurrencies completely, or they can work to develop solutions to accept the changing market landscape. I expect them to try both.

But as we’ve seen with alcohol prohibition, the war on drugs, and digital music piracy the government has a terrible track record enforcing bans on goods and services which people want.

Ultimately, China’s approach allows the government to signal their intention to influence markets without strict regulation. But this will likely embolden the anti-government ideology which already pervades these products.

So while many believe that unfriendly regulatory actions are a risk to cryptocurrencies, it appears that regulators may be adopting a more tactful approach.

Takeaway: All of this uncertainty represents tremendous opportunity. As we saw with this week's selloff, regulators are likely exploring ways to gradually take the air out of this market. However, if these attempts prove unsuccessful, we could see more oppressive policy decisions in the future.

I continue to remain bullish on the long-term potential of cryptocurrency and continue to advise my readers to buy dips in Cryptocurrency ICOs

Sunday, 31 December 2017

Bitcoins Bull Run.

Bitcoin Bull Run

2017: The year of Bitcoin's Bull Run.

2017 has been a great year. A year for the bull run of bitcoin and even now it is amazing how far bitcoin has come this year. This is the third year in a row that bitcoin is the  currency of the year.
January: In its first week, Bitcoin became $1000. That was a shock to many.
The price kept rising all through 2017. Hitting new highs and lows.
March: Bitcoin gained mainstream as New York subway trains started accepting bitcoin as payment this year.
June: IMF urged banks to invest in cryptocurrencies in June this year.
August: Bitcoin hard forked on the first of August and created Bitcoin Cash BCH. The 4th largest cryptocurrency by marketcap today.
This is also the year the word: cryptocurrencies was introduced to the world. The world got to hear about bitcoin in November 28th this year when bitcoin price hit $10,000 and many were alarmed, wondering?
What is bitcoin? How could it be $10,000.
November: What is bitcoin was the highest search term on google from 29th November till 20th of December.
Bitcoin futures was introduced by CBOE in December 10th and CME by December 18th respectively.
December: Bitcoin achieved its highest run this year on the 18th of December when it hit $20,000.
Bitcoin is presently $13,000 at the time of this writing.
Will it be sustained or do we see bitcoin going higher next year?
If you ask me I think 2018 will be the year of the blockchain and the year of Ethereum as a cryptocurrency.

Thank you for being a faithful reader and follower of this blog this year and 
Wishing you a wonderful new year and the best of 2018.

Thank you.