News

The company Advanced Micro Devices (AMD) has published a report on the results of the second quarter of 2018. The sales volumes of the graphics cards (GPUs) necessary for cryptocurrency mining have fallen.

The total revenue of the structural units of Computing and Graphics, which deal with the issuance of graphics cards, have fallen by $3% to 1.09 billion. However, this result is 64% higher than the last year's financial indicators of the companies.

Lisa Su, the President of the company AMD, pointed out that the special graphics cards accounted for only 6% of the total sales, .i.e.mln US$ 65.4. This figure was 4% higher last quarter. The downturn is related to the decline in the demand for the cryptocurrency mining equipment.

“The increase in revenue was due to the successful sale of the products of the Radeon series, as well as the continuing demand for the Ryzen products. The decline in revenue this quarter is mainly due to the relatively low revenue from the GPU products for the blockchain solution market,” claimed Lisa Su.

The company believes that the demand for mining graphics cards will continue to decline in the future and hopes that the sale of other products will compensate for it.

The magazine Fortune points out that the Chinese trading giant Bitmain earned $ 1.1 billion in the first quarter of 2018.

The Bitmain company is currently priced at $ 14 billion, and it intends to make a public offer of shares – the Initial Public Offering (IPO). The company's annual profit is projected to reach $ 2-3 billion. Over the last year, Bitmain, the company of Jihan Wu, earned $ 2.5 billion.

On 24 July, Bitcoin continued to grow sharply. The Bitcoin price reached $ 8475, although only in the morning, it exceeded the mark of $ 8,000.

The market capitalization of the coin has exceeded 142 billion dollars. The market dominance of the cryptocurrency has reached its highest mark since December 2017, and now stands at 47.3%.

The $ 7,500 mark was surpassed by the Bitcoin at the weekend, but just a week ago, the cryptocurrency exceeded $ 7,000.

The Bitcoin value is affected by the negative cryptocurrency forecasts, as well as the Bitcoin-ETF expectations. The near-standing sources of the US Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) claim that both regulators “have almost decided” to approve the creation of this fund. One of the sources indicates that a positive decision can be expected already in September. Are these just speculations or not, time will show. The source adds that until the approval of the investment funds, the commission will adopt the laws which will largely focus on the rules for implementing ICO.

On 9 July, the Chicago Board Options Exchange (CBOE) sent SEC a current application for the opening of the Bitcoin-ETF. The Securities and Exchange Commission has already rejected such applications on several occasions on the grounds that Bitcoin is an unregulated currency, but the situation was changed by the statement of the head of its subdivision that this coin is not a security. It is believed that the new fund will sell SolidX shares, each of which will cost 25 BTC.

Google has added the following cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum and Litecoin to its currency exchange calculator.

The system also automatically displays the conversion query for Bitcoin, Litecoin and Bitcoin Cash. In the default mode, the service displays the rate in relation to the local currency.

The Chicago Exchange CBOE submitted a new request for the opening of the first Bitcoin-ETF to the US Securities and Exchange Commission (SEC).

The experts are convinced that the commission's agreement would literally "detonate" the cryptocurrency course.

Bitcoin-ETF is an investment instrument which uses Bitcoin as a base asset. It is expected that the SEC decision will be made on 10 August, but this date is not precise.The commission will have time to consider this decision until 24 September. The experts point out three reasons why the SEC could finally approve Bitcoin-ETF next month.

The first reason is the Bitcoin price. In March, last year, the brothers Winklevoss submitted an application to the regulator for approval of the ETF, but then the cryptocurrency company did not has high expectations regarding their approval.

The fall in value in 2017, from 1350 to 1000 USD according to the scale of that time was magnificent. Today Bitcoin's value is 7 times higher – 7300 USD, but in December 2017 it was 20 times more expensive.

However, the Bitcoin's market capitalization already exceeds $ 125 billion and the regulators can no longer ignore it.

In June, the twin brothers Tyler and Cameron Winklevoss,the founders of the cryptocurrency exchange Gemini, got the US patent for the cryptocurrency exchange investment fund concept.

The second reason is the “Crypto Asset Management”. In the past, traditional investors did not pay any attention to the cryptocurrency market and did not dare to engage in it due to the lack of knowledge about it and not understanding the operational principles of the sector. But “Crypto Asset Management servcices” are becoming more and more popular. These are customer property storage and distribution services based on a written order by the client.

At the beginning of the month, the Cryptocurrency exchange Coinbase launched a new service, offering its customers the depositary services which are aimed at safe storage of digital coins, just as it is with traditional securities.

Coinbase now reports that this service has already attracted interest for 10 hedge funds and the companies which deal with asset management.

The third reason – transparent supervision. In the past, regulators have referred to a lack of regulation in the market, but this year, Bitcoin future contracts have already been approved, while the major US investment bank, Goldman Sachs, is currently working on exploring options for trading cryptocurrency derivatives.

Last month, the SEC refused to recognize Bitcoin and Ethereum as securities. Many experts have already announced that the Bitcoin price will increase sharply once the first Bitcoin Stock Investment Fund is approved.

If the SolidX Bitcoin-ETF is approved on 10 August, it will become the catalyst for the Bitcoin price and the rapid growth of the entire cryptocurrency market ",

- announced the operators of VanEck Investment.

According to the NewsBTC, the Greek court upheld the request for the extradition of A. Vinnik directly to France –not to the United States or Russia, which also "fought" for the Russian citizen arrested.

A year after the arrest, Alexander Vinnik, the former operator of cryptocurrency exchange BTC-e, will be extradited to France. Such a decision was taken by the Greek court. The Vinnik's lawyers are planning to appeal to the Supreme Court of Greece, which will consider the case in the coming days.

We remind you that Vinnik was arrested in Greece on 25 July 2017, at the request of the US authorities. At that time, the Greek police reported that since 2011, the Russian citizen had been leading the criminal group “which has operated one of the largest criminal websites in the world” and has dealt with money laundering with bitcoins.

The Office of the Attorney of the United States District Court for the Northern District of California confirmed that cryptocurrency exchange and its administrator were accused of violation of point 21 about the use of a money laundering scheme, which also included theft of funds at the MtGox Stock Exchange.

The US Department of Finance's Financial Crime Investigation at that time imposed a $ 110 million BTC for a deliberate violation of the Money Laundering Law. Alexander Vinnik has to pay a penalty of $ 12 million. But if his fault is fully proved, he can get the maximum sentence – 55 years in a US prison.

Meanwhile, the Office of the Prosecutor General of the Russian Federation has also sent a request for the rextradition of Vinnik, as a large-scale fraud case is being prosecuted in his home country. Despite this, a request for extradition was also sent a few days ago by France and its request, which was dealt with expeditiously, has been approved.

The non-profit organization Litecoin Foundation, which deals with advertising and support for the third most popular cryptocurrency, announced the acquisition of 9.9% of the German bank's WEG Bank AG shares.

The share purchase transaction was the result of an agreement with the company TokenPay, which deals with asset conversion.

TokenPay has recently transferred the ownership of the 9.9 percent of equity in the WEG Bank AG to Litecoin Foundation in exchange for the latter's technical support in advancing the plans of the bank to provide the customers with the cryptocurrency payment solutions and collaborating with TokenPay on its various blockchain projects.

“I am waiting impatiently for the results of the Litecoin integration in the WEG Bank AG services. It will make it easier for all the users to buy and use Litecoin,”- the Chief Executive of the Litecoin Foundation Charlie Lee expressed his opinion on it.

“Partnerships with the innovative organizations such as TokenPay and Litecoin may seem unexpected to a company like ours. However, we have carefully examined all the opportunities that we have in the future and made sure that the introduction of innovative payment methods is inevitable. We are proud to have teamed up with the best partners in this industry,” added Matthias von Hauff, the founder and CEO of WEG Bank AG.

Coinbase Inc., one of the world's largest cryptographic exchanges, has launched a new service, offering its customers the depositary services which are aimed at safe storage of digital coins, just as it is with traditional securities.

However, the stock exchange now reports that this service has already attracted interest for 10 hedge funds and the companies which deal with asset management.

By the end of the year, Coinbase intends to expand this list to 100 major institutional customers, as well as to increase the amount of funds managed by the stock exchange up to5 billion dollars, claims Sam McIngvale, the head of this new division. The amount of the cryptocurrency assets which are owned by retail investors and are under the control of Coinbase currently exceeds $ 20 billion.

In this way, the Coinbase, based in San Francisco, has joined the companies offering or intending to offer asset storage services to institutional customers, which is very relevant for the industry which is often haunted by hacker attacks and cyber-theft. Such a service will allow most hedge funds and pension funds to invest in digital currencies, as many of them can only be deposited with regulated depositaries which meet the requirements of US supervisors. The availability of such services should facilitate the entry of new capital into the markets of the cryptocurrency - of course, if this segment succeeds in living together with the drop in the current price of cryptocurrency

In the opinion of Sam McIngvale, Coinbase is negotiating with the Securities and Exchange Commission(SEC) and the Financial Industry Regulatory Authority (FINRA)in order to ensure that its activities comply with the regulatory requirements.

“We have come to an understanding with the SEC and FINRA and have received a green light for the execution of the contracts and for the first deposit acceptance,”McIngvale points out. The company was not required to obtain official permission because its partner in providing the new service is a broker-dealer Electronic Transaction Clearing Inc, licensed by the SEC.

Depositary services are currently available for Bitcoin, Ethereum, Litecoin and BitcoinCach, while in the future, the company plans to extend support for other cryptocurrencies. Currently, the service is available in the US and Europe, but by the end of the year it will also reach Asia.

The new depositary service is part of Coinbase's strategy for diversifying income and expanding the range of products to institutional customers, McIngvale explains. The service is available to the customers wishing to invest at least $ 10 million.

About Perfect Money

Perfect Money is an online platform that allows you to make instant, non-cash payments and money transfers on the Internet.It was launched in 2007.

Are you interested in

• - How reliable is the payment system Perfect Money?


• - What is the reputation of the Perfect Money wallet?

Then this article can be useful for you. In this article you will find information in detail about the features of working with Perfect Money payment system. This article also will give you detailed reviews about the functional options of the system.

Right now you will learn about PM offered:

• - Commissions,


• - Available accounts,


• - Replenishment and withdrawal of money,


• - Advantages and disadvantages.

More details about the PM wallet:

This is one of the most popular methods of making deposits and withdrawing funds from the HYIP projects. The official representation and website of the company are registered in Panama. The project was originally created as a payment instrument for instant and safe settlements in the business environment and between individuals. Since 15 June 2013, after the closure of Liberty Reserve by the United States authorities, the payment system PM does not allow the American clients/citizens/organizations to be part of the electronic wallet. In 2015, the owners changed the domain name from the popular “com” to “perfectmoney.is”.

Functionality and services of the Perfect Money Wallet:

• - High-level protection,


• - Detailed statement and report,


• - Android and iPhone OS applications,


• - Payment for the goods and services via the Internet,


• - Purchase of precious metals and currencies on the Internet,


• - Providing fast transfers between the users,


• - Instant financing of any account using a voucher,


• - Receiving payments through online commerce projects, including HYIP.

Registration

Registration on the official site is free of charge, fast and easy. After this procedure, you receive three accounts in different currencies: US dollars (USD), euros (EUR) and Gold.

Commissions

The commission is paid by the sender. 1.99% commission will be taken from unverified customer and 0.5% fee will be taken from the verified account. 0.5% of the amount, in fact, is the lowest price on the market. If you want to earn more money from HYIPs (losing less on commissions when entering a deposit), PM is the right choice.

Deposit and withdrawal of money

Payment system Perfect Money provides many options for replenishment and withdrawal of funds. In this case, all transactions are made instantly and, usually, without delays.

Deposit:

Bank transfer, online currency exchange platforms, POS-terminals, debit cards, SMS-deposit, prepaid card / voucher.

Withdrawal:

Bank transfer, certified exchange partners, prepaid card / prepaid voucher, Payeer, Advanced Cash (AdvCash), Bitcoin, Okpay and other internet / electronic money, Visa/MasterCard and certified exchange partners (where you can exchange, buy and sell currency with minimum fees).

Safety

There are 3 main functions to provide data protection. This is done to prevent the hacking and theft of personal data and money. Management of all security settings is carried out from the cabinet.

User identification:

• - An email with PIN confirmation is sent.


• - Authorization via SMS (The service helps to enter the site using the mobile phone number. Perfect Money sends a confirmation code, preventing illegal entry and hacking).


• - Code card (The card provides a graphical code image. To confirm the transaction, you are asked to enter the code from the card).

Advantages

• - The interface of the payment system at the entrance to the personal cabinet is simple.


• - The official site is not overloaded with unnecessary details.


• - The platform provides the availability of 22 languages (from English to Urdu).


• - One of the main competitive advantages of Perfect Money is low tariffs.


• - Low commission. The fee for internal transfer is only 0.5% (for a verified account).


• - Instant transaction;


• - High-level protection;


• - Availability of a referral program;


• - Accrual of interest on the balance of funds (4% per annum);


• - Absence of limits for financial transactions;


• - Wide choice of deposit options and withdrawal methods.

Disadvantages

• - The main disadvantage is the irreversibility of operations. If you make an erroneous dispatch or in case of a break-in, a refund will not be possible.


• - Strict prohibition for US citizens to use the wallet.

Additional Information

• - It is allowed to create up to 6 additional wallets in the account.


• - Opening a sub-account with a different login and password is not prohibited. Only electronic money is allowed to transfer and accept.You can refill from the main account, no commission is requested.


• - It is possible to create your own electronic voucher in cash equivalent. After activation you will be able to deal with financial transactions.The E-voucher data can be transmitted in any convenient way.

Buy, sell and exchange Perfect Money on XMLGold.eu

XMLGold online e-currency / cryptocurrency exchanger allows you to convert Perfect Money in different digital currencies like AdvCash, Payeer, Bitcoin, Litecoin, Tether, Wire Transfer, Sepa Transfer, USD coin, True USD, Cash and others. XMLGold will provide fast and secure transactions, together with a low exchange fee.

We hope that the theme of functionality and work of Perfect Money is disclosed in detail. And you will be able to decide whether it is profitable for you or not. Just do not forget to follow the safety of money.

The related articles:

- What is AdvCash?

- What is Payeer?

- What is ePay?