Charlie Lee: BTC Is Gold, LTC Is Silver And XRP Is Diamond: Charlie Lee

The influential cryptocyrrency personality and Litecoin founder expressed his thoughts on Bitcoin, Litecoin and Ripple.

He compares Bitcoin to Gold as it is the closest cryptocurrency that exist that shares the same characteristics of Gold but in some respect is better since it does not have storage problems as well as more convenient to transfer.

He then compares Litecoin to Silver with the same reasoning and states that Litecoin is very much silver as it requires less fees to process and transactions is a lot faster.

He also adds that Litecoin is about 4 times faster to transact than Bitcoin and says that most Bitcoin users also uses Litecoin. Lastly he compares Ripple to Diamond as it is extremely centralized and its supply is artificially controlled.

Ethereum Prepares For Its Next Hard Fork

Developers of the second most popular cryptocurrency, Ethereum, are already implementing code for the Constantinople, the next iteration of its decentralized network.

The said upgrade will be activated before Devcon4 ethereum conference on October.

The upgrade is said to make the Ethereum network work more efficiently and cost less in terms of transactions fees.

The exact block number at which the code would go live hasn’t yet been confirmed yet for the backward-incompatible change.

The network upgrade was a part of a two-series upgrade which was preceded by Byzantium which was activated last October.

Antiqua and Barbuda Citizenship For Cryptocurrencies

In an effort to increase citizenship by investment into National Development Fund (NDF) the parliament of Antigua and Barguda is set to amend the Investment Programme Act to start accepting Cryptocurrencies as a form of investment.

This effort is preceded by an amendment earlier last year in October when it lowered its investment requirement to $100,000 USD.

Gaston Browne, states that this new amendments will increase enthusiasm in citizenship via investment given the lower cost of entry and would open up a bigger market scope.

He cites the Dominica’s citizenship by investment program has been earning $50 Million per month through its $100,000 NDF program while the same cannot be said with its State due to higher required investment.

He however states that the state must be careful in considering cryptocurrencies and would convert investments made in crypto currencies on a daily basis to limit exposure to the new asset class.

A Call For More Action In Regulating Crypto In US Congress

A republican Congressman, Bill Huizenga prodded his colleagues to take more action in instituting regulations to the new nascent ecosystem.

He says that there is a need for more oversight to what he considers the muddied and fairly opaque Initial Coin Offering (ICOs) and digital assets markets.

He suggest that congress should empower government agencies such as Securities and Exchange Commission (SEC) as well as Commodity Futures Trading Commission (CFTC) with the same rules governing other currencies and stocks to ensure that investors are protected and provided due level of transparency.

However this is easier said than done as several government agencies views this new asset type differently.

SEC views it as securities, CFTC views is a commodity, FinCEN consider it as money and the Internal Revenue Service (IRS) views it as property.

As you can see we still have a long way to go before regulatory clarity can be attained.

Remittance Firm In London Launches Cryptocurrency Trading

A London-based remittance firm, TransferGo has become the first remittance service provider to offer cryptocurrency trading service.

This trading service will support Bitcoin (BTC), Ethereum (ETH), Bitcoin cash (BCH), Litecoin (LTC) and ripple (XRP).

According to its CEO, Daumantas Dvilinskas, their venture into cryptocurrencies is a response to customer’s demand.

Currently TransferGo has more than 65,000 users and is said to be increasing at a rate of 1,000 New Customers daily.

This is truly great news for cryptocurrencies enthusiast specially those who are using TransferGo, however it must be noted that the cryptocurrency service will be a separate from the remittance service.
The crypto services is not for remittances as for now but for buying them for their own use.

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