Binance Would Not List Bitcoin Today for Non-Compliance with Terms

If Bitcoin was to apply for listing on Binance, the world’s largest cryptocurrency exchange by means of traded volume, it would get rejected for non-compliance with its listing terms.


‘No’ to Bitcoin

A fairly controversial but rather interesting point was made by WhalePanda, the popular user within the cryptocurrency community. He outlined that if Bitcoin was to apply for a listing on Binance today, it would have to be rejected due to non-compliance with the exchange’s listing terms.

Ironically, the market’s first and foremost cryptocurrency, Bitcoin, wouldn’t be eligible for listing on Binance for the very same reason that triggered its success: lack of central authority.

While arguments can and have been made that Bitcoin is already listed on the cryptocurrency exchange, the point is clear – Binance seeks a form of centralization as a listing criterion.

Needless to say, the tweet sparked a debate, where some people argue that a representative is only needed as a point of contact in cases of trouble. However, the fact of the matter is that truly decentralized projects, much like Bitcoin, don’t have representatives as that’s their main purpose. Establishing a single point of contact, regardless of whether it’s an individual or a group of people, would suggest that they are vested with certain authorities which conflict with the principles of decentralization.

‘There Is No True Decentralization’

Earlier in July, Zhao Changpeng, CEO of Binance, said that there is “no true decentralization” and that if there is a core team behind a cryptocurrency, this represents some form of centralization.

His comments were triggered by the words of Ethereum’s co-founder, Vitalik Buterin, who openly said:

I definitely hope centralized exchanges go burn in hell as much as possible.

Listing a digital asset on the world’s largest cryptocurrency exchange has been a hot topic for quite some time now. Earlier in August, Christopher Franko, the co-founder of a blockchain-based platform called Expanse, revealed that Binance requested 400 BTC for listing the platform. The cryptocurrency exchange quickly denied the claims, claiming that the email Franko cited was “spoofed.”

Franko went on to outline a few reasons the email is entirely genuine:

Do you think Binance’s listing policy is on the right track? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock, Twitter/@WhalePanda, and Twitter/@FrankoCurrency.

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Crocs a Better Investment Than Bitcoin, Says New York Times Reporter

A New York Times reporter recently posted a chart on Twitter comparing the price change of Bitcoin and Crocs over the past year. Surprisingly, the prominent shoe brand proved to be the better investment over the long term.


Jack Nicas, a Silicon Valley beat reporter for the New York Times, posted the price chart – which tracks the price of both Bitcoin and Crocs from August 16, 2017 to August 16, 2018 – via Twitter last Friday. The results? Crocs ended the year-long period up nearly 100% from its starting price, while Bitcoin was up by roughly 45%.

Where Did Bitcoin Lose?

Much like the story of the tortoise and the hare, Nicas’ chart shows Bitcoin quickly overtaking Crocs by mid-October 2017. By mid-December, Bitcoin’s run-up was in full swing, with the digital currency posting gains nearly 340% higher than its August 16, 2017 price. Going into 2018, Bitcoin prices fell sharply between January and February and have been meandering downward ever since. Crocs, on the other hand, maintained steady growth throughout the year, with no sudden fluctuations in either direction.

The takeaway, according to Nicas, is that Crocs was a better long-term investment than Bitcoin by virtue of its steady growth and lack of volatility. As he notes in a follow-up  tweet:

Also let’s give it up for the plastic cobbler who could: Crocs stock has doubled over the past 12 months!

Why the Croc Craze?

Although Crocs are often mocked, the fact is that they remain a popular footwear choice for kids and adults alike. In fact, a recent report conducted by eBay showed that there were approximately 25,000 searches for Crocs and more than 15,000 pairs sold during the month of April alone.

A major factor behind the resurgent success of Crocs is the interest that the high fashion industry has taken in the footwear. In 2016, Scottish designer Christopher Kane featured the kitschy rubber shoes on the runway for his Spring/Summer 2017 collection and earlier this year, Balenciaga released a high-end platform heeled version of the shoes that sold out within hours of their debut.

Do you think Bitcoin is still a good long-term investment? Let us know in the comments below.


Images courtesy of Twitter/@jacknicas, Flickr/Roland Tanglao

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Cointree and Gobbill Let Australians Pay Everyday Bills with Bitcoin

Spending cryptocurrency on everyday goods and services remains problematic. Most businesses are not willing to deal with cryptocurrencies and their volatility. A new partnership between Gobbill and Cointree changes that situation, at least in Australia. Paying regular bills with cryptocurrencies is bound to become a lot more straightforward.


Cointree and Gobbill Join Forces

Getting businesses excited about cryptocurrency payments is not easy. Companies fear the volatility associated with Bitcoin and altcoins. Payment processors prevent volatility from causing issues, yet service providers are still slow on the uptake. The new partnership between billing platform Gobbill and the Cointree crypto exchange will introduce new business opportunities. Their joint effort makes it possible for consumers to pay any Australian bill with cryptocurrency.

It doesn’t matter if the bill issuer accepts cryptocurrency payments. All transactions are taken care of by Cointree and Gobbill. The latter company will take the funds from customers and pay bills on their behalf. This new payment method will not replace any of the currently available options. Gobbill supports cards and bank account transactions at this stage. Adding support for cryptocurrencies is a logical choice in this day and age.

This new partnership is a feather in the cap for Cointree. The exchange is on a mission to make it easier for users to buy and sell Bitcoin. Over the years, the company facilitated over 100 million transactions successfully. Partnering with Gobbill ensures cryptocurrency can gain more traction throughout all of Australia. Paying bills with Bitcoin shows how this industry is still evolving as a whole.

Australia

Competition Is Heating Up

Cointree already has a system in place to let users pay bills. However, it is still in the early stages of development. The partnership with Gobbill ensures this feature can continue to grow and evolve. Making this feature more accessible to novice cryptocurrency users is one of the top priorities in this regard.

This new partnership also brings competition to another popular Australian service. Living Room of Satoshi allows consumers to pay bills with various cryptocurrencies. The service has been of great interest to domestic users for several years now. It was also the only service provider of its kind for a long time. Competition is direly needed, and the Gobbill-Cointree venture will provide exactly that.

How consumers will react to this offering remains difficult to predict. The Bitcoin price remains relatively low, especially when compared to the value in January of 2018. Consumers often spend Bitcoin when the price is high as they can purchase goods and services with their profits. Even so, paying bills with cryptocurrency can provide a viable alternative for a lot of Australians.

Would you prefer to pay your bills in cryptocurrency? Let us know in the comments below.


Images courtesy of Shutterstock.

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