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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Bitcoin News - Spotify Competitor Now Allows You to Earn Bitcoin for Streaming Music

  • Alex Morris
    📰 News

    💥⚡The Lightning Network appears to be a perfect technology for creating micropayments 💰 ecosystems within streaming services 🌿🌈

Spotify Competitor Now Allows You to Earn Bitcoin for Streaming Music
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Feedbands, a streaming service that focuses on independent artists, is now paying both artists and customers in Bitcoin with the help of its pay-per-stream feature. On top of that, the users can earn crypto through a referral program with every qualified stream.

👉MUST READ Goodbye Spotify: There is New Blockchain-powered Speaker That Actually Rewards Artists

Adopting the Lightning Network

Currently, Feedbands is beta testing the Lightning Network (LN) to accelerate the speed of transactions and reduce their cost. The company states that the LN is a perfect fit for creating a micropayment economy within their streaming service.

Beyond the payment feature

Apart from bringing crypto into the multi-billion dollar music industry, Feedbands also battles climate change by planting a new tree for every qualified stream because of the partnership with ‘Trees for the Future.’

 In such a way, the company wants to show that Bitcoin, which is constantly bashed for its power-hungry proof-of-work (PoW) algorithm, can produce a positive environmental effect.     

Dash was the first choice  

It is worth noting that the company earlier chose Dash for paying its customers. The company’s CEO earlier explained that they chose Dash because it allowed instantaneous transactions. On top of that, the asset has appreciated tremendously over the past few years (it’s the third most profitable cryptocurrency of all times).

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Bitcoin News - Bitcoin (BTC) and Tether (USDT) Saw Their Trading Volumes Surge in March

  • Alex Morris
    📊‍ Infographics

    Tether (USDT), despite numerous controversies surrounding the project, saw its volumes skyrocketing in March, which is a good indicator that stablecoins are alive and thriving. At the same time, Bitcoin (BTC) trading almost reached its yearly high, but the recent Bitwise report spoiled the celebration

Bitcoin (BTC) and Tether (USDT) Saw Their Trading Volumes Surge in March
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Tether (USDT), the flagship stablecoin, registered record-breaking trading volumes in March. While Bitcoin (BTC) experienced the same surge in trading, it’s not necessarily good news after the explosive Bitwise report.     

👉MUST READ Tether Ceding Ground to Competitors as Stablecoin Wars Pick Up Steam: Research

A historic record

On March 10, Tether’s trading volumes recorded a new historic maximum of $10 bln. The controversial dollar-pegged stablecoin, which many believe doesn’t have enough fiat reserves to back its token, saw this trend continuing throughout the whole month.   

March was also quite a success for Bitcoin – the number one cryptocurrency returned to its April numbers in terms of trading volumes with $11 bln. At the time, the BTC price was sitting at $9,750.

👉MUST READ Bitcoin (BTC) Transaction Fees Continue Declining Despite Trading Volumes Being on the Rise

Trading volumes hoax

Most probably, the study doesn’t take into account the most recent findings in the Bitwise Management report, which suggests that up to 95 percent of the total Bitcoin trading volume is artificially created by fraudulent exchanges. Earlier, U.Today also revealed what mechanisms different exchanges use to inflate their numbers.

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