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Barclays’ Bitcoin [BTC] outburst – Are the banks jealous of cryptocurrency’s fame?

Abhishek Anil

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Barclays' Bitcoin [BTC] outburst - Are the banks jealous of cryptocurrency's fame?
Source: Maxpixel

Bitcoin has been resembled to the spread of an infectious disease according to a group of analysts at Barclays. They believe that current slump in cryptocurrency has come due to the immunity developed by the buyers.

The analysts have compared many models to come to a conclusion that Bitcoin has peaked, that is, reached a point of maximum growth according to studies based on epidemiology. They have divided the Bitcoin users and investors into three separate groups: Susceptible, infected and immune. The assumptions which come are the infections spread by word of mouth. Joseph Abate, an analyst at Barclays continued the statement by adding that with the number of increasing asset holders, the share of users that are potential sellers also increases. This leads to prices to peak and with jolts to large supply population which increases the number of sellers as compared to buyers.

Tweeters on other hand were apprehensive, Philip Sim tweeted:

“Think about it. Why would banks be so hostile towards crypto currencies? Because they would be obsolete.”

While Temokles tweeted that:

“here’s a difference: There’s a group of unknown size that will never become immune, and that group stays pretty constant rather than moving around like it does with a flu. They’re not just passive carriers.”

Analysts further wrote about the immunity threshold by stating that there is a point when sufficient portion of the population becomes immune, secondary infections stop occurring. According to Barclays, when the population of the asset holders increases, ‘the share of the population available to become new buyers — the potential ‘host’ population — falls, while the share of the population that are potential sellers (‘recoveries’) increases’.

They have predicted that Bitcoin will never recover and it may never return to its peak of $20,000 which it held in December. They believe that speculative froth phase of the cryptocurrency investment has passed.

A Redditor commented on the updates by saying:

“This is dumb. The stock market just crashed a bunch of times, people lost tons of money. Were they all naive and “infected” rubes?”

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Bitcoin

Deutsche Boerse adopts Bitcoin [BTC] even with the volatile market

Arjun B

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Jeffrey Tessler of Deutsche Boerse adopts Bitcoin even after the volatile market
Source: Pixnio

The Chief Executive Officer of Clearstream and a member of the Executive Board of Deutsche Boerse, Jeffrey Tessler contemplates on offering cryptocurrency products. The executive board member of the German company which provides services for derivative markets and equity trading, in an event on Wednesday, talked about adopting cryptocurrency.

Currently, there are a lot of financial institutions taking a dip into cryptocurrency and blockchain technology, with benefits like cheaper trade fees and peer to peer network. This is due to the total and obsolete emergence of Bitcoin in people’s lives and economic trades companies are adopting the technology.

According to the market report the company has been battling with other derivative companies such as Cboe Global Markets Inc. and CME Group Inc. He believes that there have not been much of regulatory effects from the regional authorities as the market is nascent.

The event was held in London which was organized by the Association for Financial Markets in Europe.

Jeffrey Tessler during the event says:

“Before we move towards the Bitcoin market, we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.”

He also said that the company is working with the cryptocurrency.

Later in the event, he added that:

“We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”

Garisson a Redittor says:

“Crank up and cramped up banks are the way to be behind the crypto-game. The involvement of institutions is a bad sign as more regulatory standards will be I posed…making it further non-decentralized.”

Sara a Redittor says:

“I believe that derivative and equities are dropping into the cryptocurrency and blockchain game because of the emergence of this new industry. Goldman has to lead the way for the stock market to follow now everyone is gonna adopt the new technology of crypto. I believe that the ones who  reject to evolve will have a major market collapse.”

Wesley Willam Cryptocurrency enthusiast tweeted:

“Bitcoin is gonna pop like a big bubble as it is observed that the market is not volatile and is falling at the steep rate. There is hope for blockchain but no Bitcoin. Maybe altcoins have a future.”

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First Dutch company to accept Bitcoin [BTC] and Neo [NEO] – ProSeo

Sarah Rodrigues

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Proseo goes "Pro" crypto- the first Dutch company to accept Bitcoin and Neo.
Source: Wikimedia Commons

In the world where Search goes Digital, ProSeo is a search engine optimization agency which specializes in search engine marketing. It is a Dutch company based in Ireland and is an SEO specialist since 1999.

ProSeo and Web design are the top ranking SEO Companies who provide SEO services in Ireland. The Search Engine Optimization Company is also partnered with Google and is ranked 1st in Google as “Seo Company”, “Seo Agency” and “Seo Services”.

Proseo's tweet. Image Source: Twitter.

Proseo’s tweet.

The company provides professional and presentable services with their experienced Irish Consultants who are aware of their Irish Market. It has a close team of specialists with extensive experience and talents.

The company has gained the title of being the 1st SEO Company to accept cryptocurrency as their payment method. They accept the cryptocurrencies Bitcoin [BTC] and Neo [NEO] for now. However, they are currently investigating whether the company can make payments with other cryptocurrencies as well.

Since ProSeo keeps a close watch of new technological developments in the world, it’s logical for them to apply to the world of digital payment of transactions.

SeaOfDeadFaces, a Reddit user commented:

“My first thought as well. I can imagine that only being able to charge people in increments of NEO means customers are either getting a great deal or shafted, depending on how the company rounds.”

stuartwitherspoon said:

“That’s great but wouldn’t GAS be the better option? I don’t see how this is practical with neo being non-divisible.”

l4ur1ds said:

“I’d love to accept GAS in my neo merch store. Does anybody know how I could accomplish that? The major payment gateways only accept BTC or ETH.”

They reported that Bitcoin and Neo are extremely safe and reliable. They believe that Bitcoin is an investment opportunity in view of the fact of its rapidly increasing value. It is unfortunate that there is a finite number of companies in the Netherlands who accepts cryptocurrency as a form of payment.

Proseo offers a simple method of transaction. The amount of payment by the customer is calculated on the basis of the rate of the largest exchange. Once they complete this, Proseo’s wallet address is sent to the customer to make the payment. The company does not calculate an exchange fee for such transactions.

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