Connect with us

Bitcoin

Bitcoin [BTC] trading platform Cash App is now available everywhere in the U.S.

Akash Anand

Published

on

Bitcoin [BTC] trading platform Cash App is now available everywhere in the U.S.
Source: Unsplash

On 14th August Jack Dorsey’s Square announced that its Cash App has expanded its Bitcoin transaction services to all 50 states in the United States. Reports show that Jack Dorsey, who is also the CEO of Twitter has been an avid fan of cryptocurrency and this recent development made by Cash App reflects that very fact.

Dorsey was quoted as saying:

“The internet will have a single currency. I personally believe that it will be bitcoin.”

Cash App is an application that allows users to trade Bitcoin by conducting transactions on its peer to peer network. Cash App was officially launched in January 2018 while repeated testing phases were conducted in 2017. Post the launch in January, the application was not available in New York, Georgia, Hawaii and Wyoming due to their stringent cryptocurrency policies.

Reports show that even Coinbase, a leading cryptocurrency exchange platform also suspended their services in Hawaii after the state imposed sanctions that were not compatible with the platform.

After the Cash App launched in New York, Biran Grassadonia, the Head of the application stated:

“We are thrilled to now provide New Yorkers with Cash App’s quick and simple way to buy and sell bitcoin. Square and the New York State DFS share a vision of empowering people with greater access to the financial system and today’s news is an important step in realizing that goal.”

Reports show that the Cash App has garnered quite the fan following with the latest release pertaining to the launch of the application across the country, only enabling the company to improve its foothold.



Ragnar Lithrasisr, a Twitter user stated:

“Thank you for being the real Bitcoin Cash. Your focus on bitcoin exclusively, and making it easy to acquire, is why I recommend @CashApp to friends. Especially over @coinbase .”

Reports show that Cash App’s parent company, Square has raised over $70 million in operations in the first two quarters of 2018, with the aim to compete with Coinbase, which is still the largest digital currency exchange in the United States.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content

Priya

Published

on

By

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content
Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency in the world has gained a lot of mainstream media attention over the years. However, most media houses have often failed to deliver the message to the masses, with the main reason being lack of research and knowledge of the subject. The cryptocurrency was thrown back into the spotlight after CBS released a teaser to their latest “60 Minutes” episode, unveiling a few influencers of the industry, speaking about their experience.

The episode, which released on 19 May 2019, immediately grabbed the attention of the cryptocurrency space, with a majority wondering whether the media channel would nail it or fail it. Interestingly, there was a poll conducted on Bitcoin Talk, where the question was ‘CBS 60 Minutes 5/19/19 on Bitcoin. Will it cause FOMO or FUD?’

Source: Bitcoin Talk

Source: Bitcoin Talk

60 Minutes, broadcast on the CBS Network is one of the oldest and most-watched American television programs, with the focus being “the real story on America’s most prevalent issues”. According to CBS, 60 Minutes has an average of 11.4 million viewers and about a million people who listen to its radio broadcast and podcast.

The show titled ‘Bitcoin’s Wild Ride’ aired hours ago, and covered the story of Charlie Shrem, the founder of BitInstant, Laszlo Hanyecz, the famous pizza guy who is recognized as the first person to make a real-world transaction with Bitcoin, and Marco Streng, the CEO of Genesis Mining. The segment also had Neha Narula, the Director of Digital Currency Initiative at MIT Media Lab, answering questions pertaining to the coin, and Lael Brainard, a member of the US Federal Reserve, speaking about why not Bitcoin.

The show was briefly explained by a Redditor, EternitySphere,

Source: Reddit

Source: Reddit

Unlike other mainstream Bitcoin segments, this segment was well-received by the Bitcoin community after a majority agreed that it did not spread FUD and that it was an unbiased episode, contrary to expectations. However, there were few concerns pertaining to a lack of content, with some believing that it failed to explain key information; which includes how it derives it value, albeit there was no FUD.



Franky1 commented on Bitcoin Talk,

“[…] next was the whole describing mining segment involving genesis mining.(facepalm) ASIC’s do not store records(asics have no hard drive).. so saying the mining done by genesis is the location where records are kept can be misguiding people to think genesis mining are ‘the bank’ and user software just ‘watches the numbers and letters'[…]”

Source: Reddit

Source: Reddit

Rdbase also remarked on the Bitcoin forum,

“The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web. It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending