The TenX payment system includes TenX Mobile Wallet (available on iOS and Android) that can be funded with different virtual currencies and TenX debit card, which can be used in almost 200 countries at over 36 million points of acceptance online and offline.
Litecoin was created in 2011 by Charlie Lee an ex-Google employee who had the vision to create a lighter version of Bitcoin.
Litecoin is a transaction-friendly cryptocurrency that is commonly thought of as the “silver” to Bitcoin’s gold. Litecoin has some key technical differences to Bitcoin that make it the premier cryptocurrency for payments, namely its faster transaction speeds and cheaper fees.
“Litecoin was integrated a little over a week ago without an immediate announcement, which allowed for a slower adoption rate while we are finalising live testing. Going forward this will be our process for new coin integrations to ensure both stability and wide availability.”
said Dr. Julian Hosp, Co-Founder & President of TenX
TenX is collaborating with Litecoin Foundation, a Singapore-based non-profit organization, which mission is to advance Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies.
“We hope to become the preferred payment platform for fans and owners of Litecoin, and cannot wait to see them use our wallet and join the revolution!”
added Dr. Hosp.
“A TenX Litecoin debit card makes it easy for people to spend Litecoins. And it’s a great stepping stone towards paying with Litecoin directly.”
said Charlie Lee, the creator of Litecoin.
Litecoin is the 3rd most popular coin in America, according to a survey among 1000 millennial in America. This partnership could help Litecoin get mass adoption and TenX one of the leading cryptocurrencies payment systems.
Prior to that, the foundation had approached Kenneth regarding his less than transparent nature with the company and to express our, and the community’s, concerns regarding his recent Reddit AMA. It was at this time that Kenneth asked the foundation for more funds to continue operations. The foundation refused any further funding as he was unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements. – said Litecoin Foundation in their statement to the LTC community.
It looks like due diligence in the crypto world is still very much lacking even at the highest levels. This is certainly a bad news story, not just for Litecoin but for crypto in general, as it makes the ecosystem look incompetent and scammy.
Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs. I am sorry for having hyped up this company and vow to do better due diligence in the future. https://t.co/khIjeHnyZ1
A small group of five students, including myself, under the lead of Ph.D. Suzana Brown, made a research on the average size of crypto investment. They tried to answer a number of questions before continuing the research. The main one being: ”Which are the main reasons for investors to enter the market?” To help answer the main question, we created some subquestions in hopes to get more dots with which it would be easier to connect.
Why was crypto investment chosen for the research?
We chose this theme because almost all members are active participants in a crypto market. Either with trading or just being enthusiasts of the technology and are regularly follow the news and forums like Bitcointalk or Reddit. With that, we share a common goal. To increase our knowledge of the crypto environment, the market and different forces involved in it. Together we can with less difficulty see some correlations and help each other reach sensible conclusions.
Answering the main question
If we take a look at the number of Slovene crypto investors. By some estimates, this number is moving around 55.000 which represents only 2,66% of the population of 2.065.890. But this percentage already shot us in the top countries by blockchain adoption.
If we look at the numbers gathered from research:
Gender: 70% males, 14% females
Age: more than 55% of respondents fall in the range of 18-38 years of age
Investors Yearly income: 22% up to 10.000€, 17% from 10.000 to 15.000€, 16% from 15.000 to 20.000 19% above 20.000
Reasons for investing: 33% technology and profit, 27% technology, profit in philosophy, 31% profit
(Some numbers are below the 100% mark. That is because some, withhold to answer.)
With the data we gathered, the fundamental concept of supply and demand is clearly seen and its impact on the price. This is especially visible with cryptocurrencies such as Bitcoin, which has set the maximum amount of supply of 21M tokens and the incoming supply is cut in half every 4 years. So when the supply decreases and the demand stay relatively the same, this results in rising of the price. In an event that in the similar scenario, where demand rises, this causes the price to ”explode”.
Next conclusion refers to volatility. This is daily range between the high and low price in this case, currencies, and tokens. Volatility in cryptomarkets are extremely high in relation to the stock market, this is contributing factor and increases the risk. Breaking 20% barrier is not an unregular occurrence.
Following market volatility, we found out that many crypto tokens from the projects don’t have practical usability and some don’t even have any usability. Many of the projects don’t have prototypes ready and are in the idea stage of the development. Some companies failed to deliver on the promise creating a loss of investors funds. Making crypto investment a good choice primarily for the risk takers.
Last but not least, the risk. Cryptomarket is full of it. With that, I don’t just mean the volatility of the coins, covered above, but also scams, corruptions, Ponzi scheme and more creative ways are sure to come. This is especially hard to trace and characteristics of the blockchain don’t allow any mistakes. Once the transaction is made, it is irreversible. To get funds returned to you, at the moment, you don’t have control and are at the goodwill of the receiver. It is much easier to prevent and bypass this corrupt attempts than it is to reverse it.
Few words of advice
Because of the risk surrounding crypto investment in this relatively new environment is why carefully conducting research on each crypto project is essential. Including a live video call in the research itself is no overkill. For that reason, the investors better have thick skin when following the price, some are even encouraging not to follow it at all. It is much easier to prevent and bypass this corrupt attempts than it is to reverse it.
Litecoin’s market value increased when they announced LitePay and Litecoin Visa card. Since then the decision to withdraw the card was announced on Twitter. The creators of Litecoin blamed the ‘hostile actions’ taken by card companies towards cryptocurrencies. Earlier in the year, some card issuers pulled their backing from established cryptocurrencies such as Bitcoin. It seems that the refusal to support the use of cryptocurrencies comes from the concern of the values suddenly decreasing.
This spiked downtrend of LTC value, Litecoin visa card was a big deal for a lot of owners. The card would allow them to spend their Litecoin currency at willing retailers and give them direct access to the funds in their LitePay wallet, so the withdrawal of this service was a red flag for a lot of potential investors.
The release of the LitePay card could have had some positive outcomes for interested businesses. The card was only going to charge 1% on sales rather than the standard 3% charge most issuers take. On top of that, there would be no chargeback losses that plague a lot of small business owners who accept credit card payments. The LitePay card could have opened the way to wider acceptance of cryptocurrencies among businesses.
The founder of Litecoin Charlie Lee twitted:
Awesome! For Litecoin adoption, merchant processing is much more important than crypto debit cards. Using LTC debit card is not really paying with Litecoin. Merchants still pay high fees and you still have to deal with fraud. #PayWithLitecoin > #PayWithVisahttps://t.co/8aOSaPCKkp
Cryptocurrency market continues its recovery with Litecoin leading the way with 49% growth in 7 days.
Since early February the market has seen a lightning recovery, which could happen due to a number of factors. Over past week, Litecoin has been leading the way. Sudden rebound has seen names like Litecoin, Ripple and Neo working its way from low prices. Litecoin (LTC) in particular, has had a nice run since February 6.. It is up almost 50% from its low point of 85,63€ ($106.94) and is valued at 178,76€ ($223.23) according to CoinMarketCap at the time of writing this article.
Ripple’s token (XRP) on the other hand has strenghtened from its low of 0,46€ ($0.58) from Feb. 6th, and now ranks second on the list of biggest gainers among the TOP10. XRP is now trading at 0,90€ ($1,13), while still down 51 percent from price of 1,84€ ($2,30) at the end of December.
Neo has seen a rise of 86% from Feb 6. low of 52,14€ ($64.88) with reported 59 percent year-to-date gains – the highest in TOP10. At press time, its price was 99,14€ ($123.35).
Meanwhile, Bitcoin value continues to rise, shaking of market crash over recent weeks.
A record high of 15.955,18€ ($19.850) in mid-December seen a rapid drop, result of continiuing fears that trading was about to be banned in South Korea and regulation. Its value stumbled even harder in February, falling from 8.037,87€ ($10.000) to 4.822,72€ ($6.000) in just four days. Now, however, it seems to be recovering. Price has increased nearly 16 percent over the past seven days, although it has declined almost 5 percent over the past month. Bitcoin is still notoriously volatile as its value shifts unpredictably. Numerous financial experts have advised potential investors to be carefull when involving in cryptocurrencies.
Supporters of Bitcoin, on the other hand are asking mentioned financial experts »Crash, what crash« while the volatile currency is climbing back slowly, but surely. Veterans have already seen those kind of corrections in past few years. But it’s safe to say the Bitcoin price crash wasn’t something most people had expected.
This correction is likely to be one of the biggest ever seen.
With Bitcoin rise up more then 1000% since the start of January 2017, we have seen multiple times such gains doesn’t come without corrections, FUD (short for ‘fear, uncertainty and doubt’) and drama. If you look closely at the Bitcoin/USD chart the last 3 years, you will see that Bitcoin has corrected eyery year between 4th and 15th of January. Many believe going into holiday period, plenty of traders want to jump out of the market and leave the extreme volatility, or they’re pulling out their earnings. Only time will tell if Bitcoin can reach its all-time-high price and/or overcome it. We can sit back and watch the deepest technological experimentation period in the history of Bitcoin. Some think regulations are very important for the health of this ecosystem. Others are ‘advocates’ of it’s decentralization, which could be its greatest obstacle. Once again, only time will tell.
After a 70% decline from the all-time high at $374, Litecoin found the support at 76.4% Fibonacci retracement level, that is $110 area. Although price spiked lower it closed above the Fibs support and also above the 8/1 Gann Fantrendline closed above.
The bullish divergence was formed on the RSI oscillator suggesting the continuation of the long-term uptrend. While the price already looks attractive many traders could be waiting for more confirmations in order to reduce the risk. Next confirmation would be the break above the 200 Moving Average as well as the descending channel.
Upon confirmation, LTC/USD should continue moving up towards major resistance area between $290 and $310. At that point profit taking could take place or as an alternative break above, which should push price much higher, to the new all-time high.
On a downside, only a weekly break and close below the $100 psychological support level could invalidate bullish outlook.
LITECOIN, one of the world’s leading crypto-currencies created by former Google employee Charlie Lee, has announced LitePay just before Christmas. But we expect the actual launch of the product this week. This could be a major mover advantage for Litecoin as Bitcoin transactions are becoming painfully high.
After the painful drop in the market, wicht impacted the Litecoin as well, from December record hights $370 to the lowest point in January of $108. Litecoin according to Coinmarketcap community is convinced that a new payment processor called LitePay will send the price soaring. LitePay will bridge the gap between the cryptocurrency market and the everyday consumer. It will allow businesses to accept payment in Litecoin from anywhere on earth. Transactions will be super-fast and allow customers to pay for products and services in dollars with no transaction charges. A Litecoin wallet will also be available for all major mobile and desktop browsers and instant withdrawals from VISA compatible ATMs and spend with any VISA merchant will be possible.
Palwasha Saaim, a Research Analyst at Lombardi Financial, called LitePay a ‘game-changer for Litecoin’. She added: “It would allow businesses to accept Litecoin without worrying about price volatility. “Payments would be processed by LitePay instantaneously and settled directly with their banks.“Take note that BitPay is currently charging about $5.00 transaction fees for processing Bitcoin transactions that take ages to confirm.“The best part is that Litecoin users will be able to convert Litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments.”
Payments would be processed by LitePay instantaneously and settled directly with their banks. Take note that BitPay is currently charging about $5.00 transaction fees for processing Bitcoin transactions that take ages to confirm.
Another game changer would be if rumors spreading about whether Facebook would either adopt Litecoin or create its own cryptocurrency, would turn out to be true. Yesterday, Facebook announced that it would block all cryptocurrency and ICO advertising on its platform. Coincidence?
Charlie Lee, the founder of Litecoin announced that he sold off all of his LTC three days after it declined from an all-time high. Since then, Litecoin has been on a mostly downward trend and currently sits at $131.36. There has been some speculation about whether Lee’s sell-off had an impact on the prices of Litecoin. There have even been accusations of insider trading, given that he was the Director of Engineering at Coinbase. He denies these allegations. He explained that his decision to dump his LTC was to remove any sort of conflict of interest between his influence and any potential gains. Taking the financial gains out of the equation, it stands to reason that Lee may now tweet more freely about his thoughts while focusing on his skills as an engineer.
At the time that Lee sold off his LTC, Coinbase announced the appointment of a Facebook executive, David Marcus to their board of directors. David Marcus is the Head of Messenger at Facebook, with expertise in mobile-first products. Prior to that, he was President of PayPal, where he accelerated the overall growth of the company. The appointment of Marcus to the Coinbase board of directors sparked some speculation amongst the community.
Litecoin is lighter, faster and cheaper than Bitcoin. It is fully capable of smart contracts. It has a payment processing layer to facilitate point-of-sale convenience while retaining proof-of-work security. It has the sort of technology built into it that an organization like Facebook might find appealing.
Mark Zuckerberg announced on 5th January that he’s “looking into cryptocurrency.”
Every year I take on a personal challenge to learn something new. I've visited every US state, run 365 miles, built an…
From last week Facebook is banning all ads that promote cryptocurrencies, including bitcoin. This is an effort to prevent people from advertising what the company is calling ‘financial products and services frequently associated with misleading or deceptive promotional practices.'” This could very well be a swipe of competition before the grand announcement of their own currency of choice. They could push it out to masses using the most powerful advertinsing tool known to men.
Charlie Lee previously tweeted that in 2018 there will be “One huge unexpected surprise.”
The Litecoin team has been hard at work working with companies to support Litecoin. Nothing to announce yet, but here's what's in the works:
Merchant processor Popular online wallet Goods trading platform One huge unexpected surprise. ????
With only a few days left in the year 2017, it’s time to look back at how far we’ve come in the crypto world since this time last year.
While bitcoin grabbed the most headlines in 2017, it’s not been the best performer by any measure. While impressive at 18x growth, it’s fairly paltry compared to Ethereum’s 106x, Litecoin’s 64x or Ripple’s 206x multiplier.
Continuing down the list there’s more good news for all top token hodlers from 2016.
Perhaps surprising, the top 12 coin which brought the biggest gains in the past 365 days has been NEM with a 264x multiplier.
On the other hand, the most “disappointing” coin has been Iconomi, which fell from 12th place all the way to 82nd and only returned an 8x gain to its investors.
In case you’re wondering, if you had invested €1,000 in each of the top 12 coins on 25th December 2016, your coins would be worth €927,000 today. That’s 7725% return on investment. Not too shabby.
Congratulations to Bitcoin, Ethereum, Litecoin, Ripple, Dash, NEM and Monero, which have managed to hold on to top spots and (ignoring Bitcoin forks) welcome to the newcomers to top 12 IOTA, Cardano, EOS, NEO & Stellar.
As we enter 2018 with great excitement and trepidation, it will be fascinating to see what this chart looks at the end of December 2018.
Good luck to everyone with your picks of future top coins.
Yesterday morning the news broke; Litecoin developer and outspoken founder, Charlie Lee, sold or donated all of his liquid Litecoin holdings. This prompted a big sell-off in the cryptocurrency markets. And crashing the market from more than 600 bin to as low as 480bin according to The Coinmarketcap.
More and more Cryptocurrencies are coming to Coinbase adding Bitcoin Cash (BCH) to its stable of coins available for purchase. This also sent shockwaves through the markets.
In his post on Reddit, Lee explained that he felt his ownership stake was actually a burden on Litecoin’s development as a real-world medium of exchange:
It was requested from Facebook to do it; so that he can’t be accused of personal interest, decision bias with regards to the LTC ecosystem development. Facebook is preparing the big announcement that they will introduce support for Litecoin as payment channel.
“Digital currency exchange startup Coinbase has announced the appointment of a Facebook executive to its board of directors. In joining the board, David Marcus, vice president of messaging products at Facebook, will bring years of experience in building large-scale mobile products, according to a Coinbase statement posted yesterday.”
And Litecoin, among the major cryptocurrencies, has a unique position to be that currency for Facebook’s digital payment platform; as it fills out its road-map into 2018.
Market manipulation and fraud are going to be a big deal in this space going forward. The temptation to cash in and scam people is simply too high not to try and game the system to individuals’ advantage.
Charlie Lee selling his coins and publicly calling out Satoshi Nakamoto to do the same and end the potential for a whale dumping his stash and bombing the market is another sign that the Litecoin Foundation is looking to go mainstream and take cryptocurrencies out of the ‘hookers, drugs and guns’ market and into the ‘Coke and Starbucks” one.
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