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Taringa! 27 Mln Users Social Network Based in Latin America Launches Its ICO

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Taringa’s ICO concept is expected to be announced Tuesday in Buenos Aires
Taringa! 27 Mln Users Social Network Based in Latin America Launches Its ICO

Taringa! is a social network that some call the Reddit of Latin American users. Launched in Argentina in 2004, it boasts 27 million registered users who create and share thousands of life hacks, tutorials, recipes, reviews and opinions daily.

The ICO concept is expected to be announced Tuesday in Buenos Aires by Taringa’s CEO Matias Botbol.

Income charing

Taringa is a social platform similar to a sub-Reddit where people share, search and find all kinds of information, organized by communities that are created and shaped by the users themselves.

In 2015, they’ve put under the hood a system of income distribution, that paid users in Bitcoin a percentage of the revenue that their posts generated. The program started in Beta and have reached about 35 000 users, but they decided to suspend it due to certain technical and audit difficulties, that would have prevented its scaling should they decided to open it to the wider community. So they were reducing it slowly, so at the moment they have a tiny group of 2500 users that keep using the program.

The ICO press release says:

“In December, 2017, we have started to rethink the program introducing an utility token, that allowed to decentralize the platform and generate a self-sustaining economy based on our current concept”.

The idea of the system how it is described in the release is the following:

Feed

The system is developed on the basis of subscription to users or channels, so that any person can follow different channels in a personalized feed, where content is ordered by an algorithm, that highlights these content elements in the channels in accordance to their relevance. In that manner, the user can read the information on relevant topics, that also have been upvoted by other peers with similar interests, creating a democratically curated feed.

Channels (communities)

The channels are topical spaces that anybody can create, with two base rules that establish their economy and governance.

Within these channels, other users can generate posts, vote on them (positively or negatively), comment on them, report them for breaching the rules of a channel, and promote them (using the token).

The administrator or administrators of the channels can establish economic and governance rules. These can later be changed in the future, should a necessity to do so arise.

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Economic rules

The adminstrator(s) establish economic rules that facilitate the charging and payment for actions performed in the channel.The channel is only entitled to distribute revenue that have been charged in relation to actions within this channel.

The actions that can be charged or paid for are the following:

  • Subscribe to a channel
  • Create a post
  • Comment on a post
  • Vote on a post
  • Report a post
  • Moderate a post

Additionally, the very system algorithm, allows to promote a post for a fee (varies from channel to channel and is calculated automatically and mathematically), to position that post on a better location within the content feed. This is how any person or company that desires to highlight their content, or content of a third party, may pay to increase the exposure and relevancy of the post in question.

All revenues generated by charging of these activities are collected by the channel and distributed in accordance to pre-established rules.

Additionally, special rules of revenue sharing may be established for the posts that have been voted better (for example, those who have stayed on top positions of the feed during certain periods of time), or for users who voted or commented on the most highlighted posts.

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Governance norms

The administrator(s) establish the rules of governance for their channels, including a decision-making process of changing economic rules, rules of content, moderator staff and governance rules themselves. In that manner, both persons and groups can administer channels on the basis of democratic, hierarchical or other rules.

All this ecosystem will be developed on top of the existing Taringa! community, whose contents are already organized in that way, with channels, moderators, administrator, content generators and users who interact with all these.

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John McAfee Says Exactly When Bitcoin Will Hit $1 Mln, IBM’s Jesse Lund Goes for More Modest Forecast

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A major figure in the crypto industry predicts that Bitcoin will reach $1 mln in 2020, John McAfee even gives an exact date
John McAfee Says Exactly When Bitcoin Will Hit $1 Mln, IBM’s Jesse Lund Goes for More Modest Forecast

As 2019 is advancing, the Bitcoin rate is gradually rising too. This is giving grounds for various discussions and predictions. Some of them, given by leading figures of the crypto world are as big as a million USD. Everyone already seems to have forgotten the prediction of JPMorgan given earlier - $2,400.

The other day, John McAfee spoke about Bitcoin getting to be $1 mln once again. No dick eating on TV was promised this time.

IBM Blockchain got there first

It was John McAfee who first predicted Bitcoin to hit $1 mln. Now he has also given an exact date when this will happen – December 31, 2020.

However, McAfee predicted this after Jesse Lund had – the VP of IBM Blockchain. In an interview the other day, Lund also went positive on Bitcoin, saying that in his view BTC will reach $1 mln mark sometime in the future. He pointed out that this would give a total change for the world’s finance system.

Lund believes that when Bitcoin price turns $1 mln, then each Satoshi will be worth one penny. Thus the Bitcoin network will provide more than $20 trl of liquidity into the global economy and this promises tremendous changes to the world’s industry of financial services.

By the end of 2019, Lund believes BTC will reach $5,000 and he expects it to rise to the $1 mln level in the future, without giving any exact dates.

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IBM’s transnational DLT system for payments

In the interview, Jesse Lund also spoke about IBM’s blockchain system for international payments – Blockchain World Wire – saying that it may support more than just one crypto coin. He named, Bitcoin and XRP but also stablecoins and virtual tokens emitted by central banks.

The new payment system intends to work in over 50 countries and offer 30 or 40 crypto coins for customers to use. It plans to cooperate with about 3 or 4 dozen international banks.

The company plans to roll out their network to operate around the whole globe within three or five years.

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BitMart Exchange Teams Up with Paxful to Give Its Customers More Benefits

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Crypto trading firm BitMart spreads word about its new partnership with P2P exchange Paxful, both firms intend to gain more scalability and liquidity
BitMart Exchange Teams Up with Paxful to Give Its Customers More Benefits

BitMart has publicized its integration of Paxful’s Bitcoin trading service. This will enable clients of BitMart to get more payment features. Also, customers of Paxful will be able to use BitMart and trade its almost 200 crypto pairs.

Benefits of this collaboration

The reps of the firms state that this cooperation will allow improving customer experience by giving users more trading opportunities.

BitMart founder and CEO Sheldon Xia has mentioned that partnering with Paxful will enable the exchange to attract new customers who previously had no access to crypto trading.

BitMart started off two years ago. This crypto exchange is located in the Cayman Islands, but it operates branches in the US, South Korea, etc. The platform officially has nearly 700,000 clients, and its trading volume exceeds $70 mln per day.

The CEO also added that working on one team with Paxful will let users have a better choice of payment options – gift cards, bank transfers, etc.

About Paxful

Paxful is a decentralized marketplace where one trader can buy BTC directly from another. Users there add their adverts about selling BTC and mention the way they wish to be paid.

As soon as the buyer conducts a payment, he or she receives their Bitcoin from escrow directly into their Paxful storage space. Those who purchase pay no fees to the platform. It takes 1 percent of each deal from sellers.

The company reports it has one million active users from around the world on a daily basis.

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Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

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Coinbase claims that this addition is an important step towards creating the leading cryptocurrency wallet on the market
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

Coinbase Wallet now allows its users to directly store Litecoin (LTC) in the app. Thus, the fifth biggest asset by market capitalization joins Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ethereum Classic (ETH) on the list of supported cryptocurrencies.
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

The rollout is coming in a few weeks

The blog post states that Coinbase Wallet users will be able to download an update with Litecoin support in a few weeks on the App Store or Google Play Store respectively. Litecoin support will be available from the get-go once the app is updated. You will simply have to choose the ‘Receive’ option on the main wallet page in order to deposit LTC to your wallet.

Coinbase keeps snubbing XRP

The announcement was flooded with tweets from users asking Coinbase to add XRP. Everyone’s favorite remittance and settlement token is nowhere to be found on the roster of supported digital coins.

However, XRP was added to Coinbase Custody in November 2018, so one shouldn’t exclude the possibility that the crypto behemoth will eventually fully embrace this asset.  

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Should Warren Buffett Invest in Bitcoin (BTC)? Anthony Pompliano Definitely Thinks So

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There is a ‘snowball in hell’ possibility that Warren Buffett, an ardent Bitcoin hater, will actually invest in Bitcoin
Should Warren Buffett Invest in Bitcoin (BTC)? Anthony Pompliano Definitely Thinks So

It’s been more than three years since Warren Buffett’s last big acquisition (which he likes to call ‘elephants’). As the 89-year-old billionaire is mulling over his next big buy, crypto evangelist Anthony Pompliano suggests that he could purchase Bitcoin (BTC).

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Warren Buffett's Berkshire Hathaway has a whopping $116 bln to spend, but he simply cannot find the company that would fit the set of his criteria. While Buffett is on the hunt for his next big target, Pompliano claims that Bitcoin would be his best bet. The number one cryptocurrency, according to Pompliano, will be able to generate more profit than all of Buffett’s investments for the next decade.

Wishful thinking

Pompliano’s comment was most definitely sarcastic given that the Oracle of Omaha is a well-known Bitcoin hater. Back in May, after the crypto bubble popped, Buffett called Bitcoin ‘rat poison squared.’ He also claimed that BTC is an asset that ‘doesn’t produce anything.’ Buffett’s vitriolic comments didn’t go unnoticed — as reported by U.Today, Genesis Mining trolled the billionaire with pro-Bitcoin billboards outside of his office.

Wishful thinking

Pantera Capital’s Dan Morehead also wasn’t a fan of the ‘rat poison’ remark, calling banks and credit card companies the rats.

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University of Michigan Eyes Continuing to Invest in Andreessen Horowitz’s Digital Asset Fund

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The University of Michigan, with its spare finances of around $12 bln, may keep its collaboration with the A16z crypto investment firm
University of Michigan Eyes Continuing to Invest in Andreessen Horowitz’s Digital Asset Fund

The university began investing into the A16z fund set up by the Andreessen Horowitz company last summer when it transferred $300 mln into its management. At the moment, the university is considering a change to invest some more. The amount of funds assigned for this purpose has not been disclosed.

Crypto fund for institutional investors

In summer last year, the top financial company Andreessen Horowitz set up a branch to invest in technologies based on crypto assets. Other media outlets reported that Yale University also took part.

Chris Dixon from Andreessen Horowitz mentioned back then that the company intends to invest into the crypto industry on a regular basis, even if the market situation worsens. He even insisted that no crypto winter will stop them from doing it.

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Pension funds and universities are going for virtual coins

In autumn last year, the University of Michigan’s spare capital reached the amount of $12 mln. The employee in charge of investments, Erik Lundberg, back then said that this money can be used to increase the present endowment in real terms.

Pension funds and endowment funds are now actively investing in the DLT and crypto spheres. A week ago, reports emerged in the media that several pension funds provided investments for the crypto fund set up by the Morgan Creek Capital venture company – adding up to a total of $40 mln.

The fund opened by Morgan Creek accepts money for investing from hospitals, insurance firms and universities.

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