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Billionaire Bitcoin and Crypto Investors Double Down on Cryptocurrencies Despite Price Slump

FN Media Group Present USA News Group News Commentary


News provided by

USA News Group

Apr 16, 2019, 08:55 ET

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LOS ANGELES, April 16, 2019 /CNW/ -- USA News Group – Bitcoin's 15-month slump hasn't dissuaded many billionaire investors who were made wealthy by the leading cryptocurrency. Bold predictions, including someday matching the global value of gold, add confidence to the crypto markets, and to companies advocating and advancing the crypto adoption, including NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Mastercard Incorporated (NYSE: MA), Visa Inc. (NYSE:V), Square, Inc. (NYSE:SQ) and even JPMorgan Chase & Co. (NYSE:JPM).

Brendan Blumer, CEO of Block.one, recently tweeted: "Over the next two decades, #Bitcoin will replace #gold as the leading commodity to store value." However, for Blumer's bold prediction to come true, Bitcoin's price will have to rise more than 82x its present value. In order to match gold's global market value of $7 trillion, each bitcoin would have to be worth approximately $333,000.

Before such a replacement can possibly take place, a rise in transactions and usage is needed. This push grows with each new merchant that accepts payment from new crypto-friendly payment platforms such as the Cash App from Square, Inc. (NYSE:SQ), or NetCents from NetCents Technology Inc. (CSE:NC) (OTC:NTTCF) — NetCents alone currently supports 55 countries, 36 fiat currencies, and services over 3 million merchants.

Of the more than 2,100 recognized cryptocurrencies being traded on over 16,000 markets (as of March 18, 2019), the current market cap of the cryptocurrency market is nearly $140 billion—with more than $31.5 billion in volume is being traded daily. Bitcoin is still the biggest dominant player, which is worth more than half of the entire market at 50.8%.

Moving forward, cryptocurrency cross pollination with traditional fiat currencies will be required. This is where platforms such as NetCents excels, especially its proprietary cryptocurrency credit card that pulls directly from the user's NetCents wallet.

NetCents Technology Inc. (NC) (NTTCF) recently even branched out into the possibility of equities trading through blockchain/crypto technology. Through an agreement with ILO Crypto (ILOCX). ILOCX's platform allows companies to raise non-equity capital through the sale of Initial License Offerings ("ILOs"), which are a revenue-based method to raise capital, promote and sell products and services, and to receive royalties based on a company's gross revenue.

ILOCX has already signed 54 companies to its first exchange platform allows its companies to list and sell an ILO to raise capital and enhance sales. There are currently more than 20 companies already listed on the exchange.

Bigger Than Social Media Itself

Billionaire crypto investors, the Winklevoss twins, believe that bitcoin and cryptocurrency will eventually be bigger than social media, including Facebook which they had a hand in creating.

"In the first 10 years, a lot of people were like 'Amazon isn't competing with Barnes and Noble'. But we know how that played out. Cryptocurrency is so young, we are only a couple of years into this journey," Cameron Winklevoss said. "Crypto is transferring value and putting markets on certain resources which is, like, greater, like, brings more people in, like, than, like, sharing photos, right."

"Which is powerful. People want to connect and stuff, but if you actually pay people and things in value that is almost, like, more significant," Tyler Winklevoss added.

The Ledger at The Core — Blockchain

At the core of the crypto movement is the infrastructure that keeps the system working — namely the ledger technology, known as the blockchain. For merchants to implement cryptocurrency at the till, it will be the blockchain that will keep transactions honest.

According to Manolo Almagro at Retail Dive: "[Blockchain's] impact at retail will have a major impact on making it much easier and faster for consumer transactions both on and off-line. The decentralized aspect of blockchain technology will also usher in new types of customer loyalty programs than can be utilized across a global marketplace."

It's utilizing this aspect of the cryptocurrency wave that is pushing the flagship platform of NetCents Technology Inc. (CSE:NC) (OTC:NTTCF) forward. NetCents is now used at the Point of Sale (POS) of over 3 million merchants, in 55 countries, while handling 36 fiat currencies.

Making the decision easier for merchants, NetCents offers several appealing selling points, including low transaction fees (delivering a savings of 3-9% per transaction), instant settlements, and the ability to accept fiat, credit card, and/or cryptocurrencies equally — NetCents has even put forth a proprietary cryptocurrency credit card that pulls directly from the user's NetCents wallet.

But the savings across the board or impossible to ignore. On average, a low-risk merchants typically are charged a merchant fee between 3.5% to 5.5%. Higher-risk merchants get charged a much higher rate of 5.0% to 10.0%. 

NetCents's universal merchant fee is only 1.99%—a savings of between 1.5% to 7.0% per transaction. For merchants both large and small, this could represent a massive shift in their profitability.

With its proprietary cryptocurrency credit card offering, NetCents can be accepted anywhere that Visa Inc. (NYSE:V) or MasterCard are accepted. This opens the world of cryptocurrency users to millions of merchant locations around the world.

Blockchain-backed Banking?

Major banks such as JPMorgan Chase & Co. (NYSE:JPM) have shown intrigue towards the usefulness of cryptocurrency, and the blockchain ledger. This includes flirting with the idea of using blockchain ledgers for transactions.

For other banking institutions, NetCents has also launched its Crypto Banking Stack (CBS). The platform offers financial institutions a low-cost, crypto-ready processing solution that can be  quickly implemented without the requirement for an extended and costly development cycle.

Right off the bat, CBS supports Bitcoin, Ether, Bitcoin Cash, and Litecoin. With this kind of offering, banks and their clients can potentially convert and move balances between their crypto and fiat bank accounts.

By doing so, clients can now add various crypto accounts/wallets, transfer, deposit, withdraw, make a payment, view transactions; and the ability to link their crypto bank account to their existing debit cards. Crypto bank accounts could potentially have the same functionality as standard chequing and savings accounts.

Further Developments Driving Cryptocurrency Acceptance

Mastercard Incorporated (NYSE: MA)

While on the surface, the news of Mexico-based Polispay being forced to cancel its announced Mastercard cryptocurrency debit card may look like a step away from crypto by the payments giant Mastercard, in reality there is still hope for crypto enthusiasts. According to the March statement made by Polispay, it appears that the company will still have permission to use the card inside Mexico, however it has been acknowledged that there was a violation of Mastercard rules when the cards were being sold outside of Mexico. Polispay has committed to refunding customers outside of Mexico, however, it's worth watching how the success of the cards ends up in Mexico where they are still permitted.

Visa Inc. (NYSE:V)

In an announcement that shocked the global payments world, Visa showed its support for the crypto movement by posting a new job listing—Technical Product Manager, for its Visa Crypto Team. According to the posting, the new hire will manage a product roadmap and collaborate with the Visa Research team to design and develop new products. The posting points to the creation of a Visa Crypto Team, which will be involved with directing strategy within the payment giant's "cryptocurrency ecosystem."

Square, Inc. (NYSE:SQ)

Twitter CEO and Square Inc. founder and CEO, Jack Dorsey, has personally begun ramping up his support for Bitcoin. He's recently revealed he's buying up $10,000 worth of bitcoin, weekly. The prominent social media leader has also bought a bitcoin and cryptocurrency hardware wallet called a Trezor to store his increasing bitcoin holdings. Having revolutionized small retail outlets through its sleek square payment dongle that attaches to smart phones, the logical next step was to accept crypto payments. Square has patented a process by which bitcoin or any other cryptocurrency may be accepted by a merchant, who could then choose to cash out in their chosen currency.

JPMorgan Chase & Co. (NYSE:JPM)

Back in February, JPMorgan Chase became the first US bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is set to use blockchain-based technology, enabling instantaneous payment transfers between institutional accounts. According to the bank itself, the JPM Coin isn't necessarily money, rather a digital coin representing United States Dollars, held in designated accounts at JPMorgan Chase N.A. The JPM Coin will always have a value equivalent to one US dollar. JPM Coins are in place to drastically reduce the typical settlement time.

For a more in-depth look into NetCents Technology you can view the in-depth report at USA News Group: http://usanewsgroup.com/2018/12/12/the-sectors-that-could-change-the-way-you-view-2019/

Article Source:
USA News Group
http://usanewsgroup.com
[email protected]          

Legal Disclaimer/Disclosure: This piece is an advertorial and has been paid for. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of USA News Group only and are subject to change without notice. USA News Group assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.

DISCLAIMER: USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein.  The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:  
[email protected]  
U.S. Phone: +1(954)345-0611

SOURCE USA News Group

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