Binance Fiat Exchange! LITECOIN Trading Pairs on Gemini – Today's Crypto News

hey everybody its Maddie here with altcoin buzz hope you're having a very nice Sunday and a fine weekend it's a beautiful day where I am in my little corner of the world and I hope the same is true for you we're looking at a number of short stories that including this one by Luke so more updates out of China out of the Bank of China specifically we'll take a look at what Luke has to say about that quick update on the Gemini exchange which is gonna be listing litecoin at trading pairs we're also talking about finance which is set to open a Fiat Exchange in Singapore but let's begin as always an altcoin buzzed on IO with this article by Garrett new research shows that Bitcoin mining is cheaper than gold mining so to set the stage we have some research done by long hash which indicates that the annual costs to mine gold are about eighty seven point three billion dollars while around four point three billion dollars is spent to mine Bitcoin every year so quite a big difference there there's quite a disparity but even though gold mining is a significantly bigger industry than gold long hash believes their point still stands so taking a look at the market camps of these two industries the gold market cap globally sits at around seven point eight trillion dollars and you have Bitcoin currently you know it's lower than it used to be certainly but currently it's about a hundred and twelve billion dollars so as Garret Rice clearly the gold market is much larger than bitcoins and some could say that the larger market justifies the difference but long hash argues that this is assuming that the goal of Bitcoin mining is to enlarge its supply to meet demand and Garrett goes on here to describe the very different processes that characterized both Bitcoin and gold mining respectively they're not at all the same so in essence this is a bit of a sobering report because it's kind of suggesting that despite some of the criticisms out there yes Bitcoin energy usage is demanding and we do use a lot of power in this particular industry but it's really nothing next to the traditional costs associated with gold so as Garrett writes the results of this debate over the energy cost of Bitcoin seems to be pointing to the benefit of decentralization since the energy and costs of third parties can be done away with in many situations for more on bitcoins energy footprint click here this is an article from earlier in the year back in April in fact by Garrett as well if you're interested in reading more about this where we really break down the number we're gonna link to this of course in the description below I remember covering this piece it was a very interesting one so do be sure to take a glance at this if you haven't already and the original report here from long hash Bitcoin uses a lot of energy but gold binding uses more you can see the graphic here Bitcoin sitting at 4.3 billion dollars with gold at eighty seven point three billion dollars so for those of you out there in the altcoin buzz army that are perhaps more quantitatively inclined you can check out this report and hey if you are that type of person then you and I are probably very alike because I like these kinds of numbers I like digging into the specifics of a report and really being able to measure something definitively but if you're just interested in the gist of this article the point is made here physical gold mining is far more resource intensive than Bitcoin mining you can take a look at this report it's a good one we'll link to that below if you want to take a peek in other news by Luke Bank of China backs new blockchain based financial platform we've been talking about China lately and banks out of China lately as well in this development China continues its blockchain journey by creating a new finance and trading platform with the assistance of its central bank the country may have been cracking down on activities using virtual currencies but when it comes to the underlying technology China is not holding back China is constantly signing various blockchain related patents with the goal to be in the lead when it comes to the support of this new technology and skipping down ahead in Luke's article here today the news came out that China is supporting the development of a new blockchain based trading platform the new platform is backed by the People's Bank of China and is named the quote Guangdong Hong Kong Macau Great Bay Area trade finance blockchain platform that's quite a title the goal of the platform is to end the various financial and transaction related issues that micro two medium firms currently have to deal with according to Li Chiao who's an analyst at Beijing based consultancy I research he said quote China has been cracking down on activities using virtual currencies but blockchain is quite advanced technology which has been adopted by many countries so China will definitely not lag behind blockchain technology could also ensure a more efficient and safe information sharing system and it is expected to reduce the financing costs for micro to medium sized enterprises let's keep an eye on this you also have a quote here by the vice-president of the transacting division of ping Bank who said quote previously trade financing costs from micro to medium-sized enterprises were about seven to eight percent but the blockchain system could cut the cost to less than six percent and you know any kind of a reduction like that it may seem negligible but when you're dealing with millions and perhaps hundreds of millions maybe even billions of dollars I mean guys one percent of a billion dollars is ten million dollars so if you can shave off one or two percentage points with some of these major institutional deals and some of these large transactions hey that adds up and it stands to reason that banks and businesses everywhere are gonna want to take advantage of those cost savings so I'm gonna say this again just for fun but we're definitely gonna keep an eye on the Guangdong Hong Kong Macau Great Bay Area trade finance blockchain platform and as the news develops around that particular story we'll be sure to keep you informed with the latest to the best of our abilities in other quick news today crypto exchange Gemini 2 lists litecoin trading pairs and this comes on the heel of the light coin Summit which just wrapped up by the way guys if you haven't checked out captain crypto and his coverage of the light coins summit on altcoin buzz we're gonna link to that video in the description below he interviewed all kinds of great youtubers that were in attendance as well as the man himself Satoshi light Charlie lis creator of light coin so check that out in the description below we're gonna link to that if you haven't seen the video already but in other news here on Friday the 14th of September digital asset exchange Gemini which was founded in 2014 by the Winklevoss twins announced that it was going to add light coin trading pairs next month so in October of this year this news which was announced by Eric Wyner Gemini's vice president of engineering while he was speaking on stage on day one of the light coin summit 2018 organized by the light coin foundation and that was held just recently on the fourteenth and fifteenth of September in San Francisco so that's certainly good news and if you haven't been caught up with the light coin summoned be sure to check out our coverage featuring captain crypto here in this new segment that we're debuting he's interviewing all kinds of different youtubers in this particular piece so do be sure to give it a watch with a link to this in the description below we're asking all kinds of different youtubers what their favorite top three alt coins are what they'd like to avoid and don't forget like I said this video features an exclusive interview with other than Satoshi Lite mr. Charlie Lee so do be sure to check it out we're gonna link to that of course for your convenience below finally in the news today by Nance to open Fiat Exchange in Singapore CEO Xiao Cheng Peng announced the new venture at a Singapore event so by Nantz is just continuing its role the momentum continues to build and it continues along with coinbase to take over the world it's the most used cryptocurrency exchange in the world it's testing a Fiat exchange in Singapore according to their CEO he made the comment on a blockchain event in Singapore then announced it in his Twitter profiles so CC by nan said the following I just slipped that we will begin hashtag bye nan Singapore Fiat exchange live Monday closed beta testing on September 18th in three days that's now in two days invitation-only first very exciting I would suggest you follow the CEO of by NASA Chiang Punjab because he's an interesting guy and he's very communicative with everybody out there that are by Nantz users and by Nan's fans you guys can check out this article you can read about the details here on Finance magnets will also link to this below so do be sure to check it out if you're a fan of Finance as I am then this just continues to be more good news for the exchange be sure everybody that you're following altcoin buzz and altcoin buzz news because as you know the news never stops if you like this video smash that thumbs up leave us a comment of course make sure you're subscribed and make sure you click the belt as well because you're gonna get notifications that way check out these videos here on the right our latest is available for you to view just click the link as well as our latest articles on altcoin buzz dot io members of the altcoin buzz army I hope you having a great Sunday so far in a great weekend if you choose to invest hey I wish you all the very best luck in the world we're gonna see you again soon in a new video take care have a great one

23 thoughts on “Binance Fiat Exchange! LITECOIN Trading Pairs on Gemini – Today's Crypto News”

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  2. Hey Mattie, I did not know that you could speak Mandarin, you did real good today Bro. My favorites Alts: #1 Cardano, #2 Stellar Lumens, #3 VeChain, hodling only 1 now ADA, and of course BITCOIN The King of ALL Crypto, Peace

  3. GEM ALERT: $IPSX @ipexchange1 enrolment for staking Programe starts 15th September, check handle for more details. Possible 20x from here!

  4. Why mess with Binance or Coinbase and Idex when Blockport offers all three in one. 4 million marketcap thats a joke

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