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Ric Edelman: A Bitcoin ETF is on the way

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Creating a Bitcoin ETF has been a priority for many influential crypto players for months already (maybe more). But the road to an ETF has been almost as hard as Frodo’s road to Mordor.

Ric Edelman’s opinion

But Ric Edelman, founder of Edelman Financial Engines, appeared earlier today at CNBC’s ETF Edge at the Inside ETFs Conference in Hollywood, Florida. He had this to say on the subject:

“It’s virtually certain. The only question is when” then he continued: “The SEC has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually, we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.”

The Securities and Exchange Commission (SEC) has been walking with led shoes on the subject of cryptocurrencies. Are some of them securities? Are some of them actual money? And how can you tell the difference? Should these assets be available for the market at large?

And how should they be regulated? SEC has provided us with some answers to those questions, but some questions still remain, and they are getting on the way of mainstream adoption.

SEC’s decisions will be important because Bitcoin still lacks a secure chain of custody (in traditional terms, in practical terms, Bitcoin’s blockchain is most likely much safer than the traditional mechanisms).

On the other hand, SEC’s decisions will apply to the US only, which is not that important in crypto compared with Japan, China or Korea, so it will have no way of affecting international price flows or to governate trading platforms based overseas.

The big boys are interested

Mr. Edelman also explained that major financial institutions are interested in finding a solution that enables them to get a piece of the crypto action, and that could be enough for an ETF to go online eventually. The market is already there.

“We’ve got some serious players. Fidelity has made a major announcement in the custody issue. We’ve got Kingdom Trust and a number of other very serious players on the custody side. I’m confident that in very short order VanEck or Bitwise will satisfy the custody concern to the SEC,” according to Mr. Edelman.

Tom Lyndon has an opinion too

Tom Lydon, who is ETFTrends.com editor-in-chief joined the conversation to add that he already sees a huge demand for something like a Bitcoin ETF.

“There is pent-up demand. We interview advisors all the time. Seventy-four percent say they’ve talked to clients about their interests in bitcoin, so they need to step up when this happens because that money is going to go elsewhere,” Lydon contributed.

VanEck and SolidX are trying to get an SEC authorization to come up with the world’s first Bitcoin ETF. But they withdrew their application because Trump’s government shutdown could complicate things too much to get a resolution in time.

And why does any of that matters to you or me? Because many experts agree on something: the next bull run in crypto will be driven, at least partially, by institutional investors. So far, crypto’s players are small investors for the most part, and an ETF would be one of the ingredients that could change the market for good.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

TronBet’s Ante: Here’s how to get some, buy or sell

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How would you like to gamble at a casino in which you get some of the house’s profits? Sounds crazy, right? The famous saying is “the house always wins” (except when Doland Trump owns the house, of course). The thing is, you can really become the house now, at least in terms of partaking from the profits. Keep reading if you want to find out how.

Ever since Tron became independent from Ethereum, last May, lots of new decentralized apps have been developed and deployed over Tron’s new Main Net. Many of those apps are for gambling and gaming. Among them, there is TronBet (https://tronbet.io/). This website features a series of games in which you can place a bet and play.

It’s nothing like a traditional gambling website. First of all, the odds you get from the house are 100% mathematically fair, unlike traditional gambling sites in which the house has an edge. Second of all, this is a crypto betting site, specifically, it’s a website in which bets and returns are placed using Tron’s TRX cryptocurrency. And third of all, you can share in the site’s winnings.

The website has a native token, based on Tron’s TRX token. It’s called Ante, and you get it as a reward for playing. That’s not all. Once you’ve played a bit, and received some Ante tokens you can do several things with them. For instance, if you have a Tronlink wallet (which is just a chrome extension for your browser) you can transfer your Ante tokens to your wallet. Or you could freeze them. If you do that, the online casino called TronBet will share its earnings with you, depending on the number of Ante tokens you own.

There’s even more. When the Ante token first appeared you couldn’t sell it or buy it. But now that the GOC decentralized exchange is online for Tron-based tokens, you can go there and sell or buy Ante tokens. The current rate is about 20 TRX for an Ante.

 Nothing short than a revolutionary product

This is revolutionary. It’s unprecedented in gambling because the odds are fair and the house shares its revenue with players. It’s like you own a bit of the casino, without even buying anything. You just play and you get the tokens that enable you to share some of the profits. It’s a very good way to get some passive income. Basically, you’re getting paid in crypto for having some fun.

The Tron project is exceedingly ambitious, for sure. But if every (or even a few) app and smart contract running on Tron’s blockchain can manage to be as innovative as TronBet, then there’s every chance that Tron’s objectives will be met.

And if you’re interested in additional passive income in Tron-based cryptocurrencies, just start up your BitTorrent client. There’s yet another new coin called BitTorrent Token (BTT) that will reward BitTorrent seeders just for keeping their files online for longer times.

Both Ante and BTT can be traded for TRX at Tron’s decentralized exchanges (mainly GOC) and since it’s directly linked to your Tronlink wallet, it’s rather easy to take your resulting TRX to any other exchange you like and hold them, or to trade them for other coins such as Ripple or BTC.

Image courtesy of PixaBay.

Tron (TRX) available on ELLIPAL’s cryptocurrency wallet

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What would a day in crypto be without news from Justin Sun? Tron’s CEO and founder knows for sure how to make waves in the cryptosphere, and he’s very adept in PR, especially when it comes to using his Tweeter account effectively. He’s very much like Donald Trump in that regard except that people tend to like and respect Mr. Sun.

The start of 2019 is not an exception. Right before the new year was about to start, he tweeted an announcement:

What is Ellipalwallet? Well, it’s one of those nice crypto toys, as described in Mr. Sun’s tweet. This one is made by Ellipal, and it’s a cryptocurrency wallet that looks very much like a cellphone, except that it’s not.

Ellipal Limited is a blockchain technology firm founded in Hong Kong in 2017, with a strong focus on digital assets. Its mission is to connect people into the cryptoverse safely and conveniently. They have a tool to achieve this. It’s a next-generation hardware wallet for every possible cryptocurrency user.

The company’s next-generation hardware wallet is mobile, and it’s designed to be a one-stop solution for crypto coins of all kinds. Any wallet user can do transactions, exchanges, and payments safely without effort. But also can be informed about the market’s conditions, information, trends, and news.

Since this wallet appeared in the market, it’s found its way to 30 different countries, and it has users the world over.

This is yet another piece of good news for Tron, a project that is quite used to report good news all the time. Every milestone announced by Tron’s leadership has been met on time, and it’s worked perfectly. This is contrasting with other projects (like EOS) that have announced several milestones throughout the last 12 months only to delay them or roll them back because they just don’t work properly.

Tron’s Tronix coin broke into the world’s top ten cryptocurrencies by market capitalization only last December. That was quite a feat in a year in which almost every asset lost lots of value (some lost 90%).

In that environment, Tron managed to keep growing and gaining value, at least in relative terms. And now, Tron is not only in the top ten but in the top nine and the last 24 hours; it’s the only token that’s been trading in significant green numbers.

The year is only starting and there’s already plenty of good news for Tron. And wait until Project Atlas mergest the world’s largest decentralized network (BitTorrent) with Tron’s blockchain. Great things are afoot for Tron, the project and the digital asset and it’s still very cheap at $0.028. It was the only coin that traded in double green numbers yesterday, and only a few days ago it was at around $0.01.

Keep an eye on Tron. The token may be cheap, but the fundamentals are strong, and when the bulls arrive again in crypto, it could be Tron who leads the way (along with other fundamentally strong coins such as Ripple or Electroneum).

Image courtesy of PixaBay.

Tron (TRX) salutes the new year with a new campaign

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Justin Sun, Tron’s CEO and founder is a man who knows to use Tweeter to great effects, like a nice and intelligent version of Donald Trump. Yesterday, he tweeted something of a congratulatory message for the Tron community because of the current holiday season, New Year’s Eve, more specifically.

His tweet reads:

The community answered enthusiastically to Mr. Sun with wishes such as “for Tron to grow in adoption, users and sophistication”, “to buy a house with $TRX”, “to confirm the #TRX moon”, “My New Years Resolution is to continue to WORK, #HODLTRX and accumulate more, to run another half marathon, and to continue my support of the #TRON ecosystem on and offline. I want to double my hodlings of $TRX by this time next year.”

Tron is one of the blockchain communities with the tightest, most committed members, as is apparent from their new year’s wishes. And they have good reason to be pleased about the currently ending year and to look forward to the future optimistically.

As 2018 started Tron was a fledgling project that was recently launched over the Ethereum network with an ERC-20 based token called Tronix (TRX) and it was all working well, or at least as well as it could be expected at the Ethereum level since that network has had performance issues all year long.

Even before the year began, Tron’s leadership realized that the project’s huge ambitions (to decentralize the whole web and content production systems using Tron’s blockchain, no less) were going to need a network way more powerful than Ethereum’s. So they started to work on a new, independent, network called the Tron Main Net. Which went online in May, after several successful developing stages.

But that wasn’t everything. After that, the project released its new virtual machine, a developer’s kit, several websites, a decentralized crypto exchange, a weekly online magazine. It acquired several important new strategic partnerships. Every milestone was delivered on time and it worked correctly too.

Perhaps most importantly was Project Atlas. Mr. Sun had the idea to buy BitTorrent, so he went ahead and did it. So now Tron owns the world’s largest decentralized network and it’s going to integrate it into the Tron’s blockchain. It will reward seeding with TRX tokens and from one day to the next Tron will be the world’s largest content provider through BitTorrent.

So it’s been a very good year for Tron, and community members are picking up on that. They’re being quite optimistic and hoping for great things for 2019. And we can’t argue with that. Tron is a solid project in which the fundamentals are strong because the network has some very interesting use cases and it’s not based only in the speculative power of a cryptocurrency, which is too often the case with blockchain projects.

Image courtesy of Pixabay.

Bitfinex Adds Three New Tron Pairings

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Tron was given a boost in popular cryptocurrency adoption when Justin Sun, the Founder and creator of the number 11 ranked cryptocurrency announced that Bitfinex, the popular cryptocurrency exchange, will start support three TRX pairings with the Pound Sterling [GBP] Japanese Yen [JPY] and the Euro [EUR]. The Tron official wrote on Twitter:

“Crypto exchange @bitfinex adds #JPY, #GBP and #EUR trading pairs to #TRON. #TRX $TRX.”

Bitfinex has created quite a lot of news in the cryptosphere with several traders appreciating the platform for its features and ingenuity. At the recently held Ethfinex Government Summit, Parolo Ardoino, the Chief Technology Officer of Bitfinex delivered a talk about his exchange discussing the recent products, Ethfinex and EOSFinex with the community. Here, he conveyed that Bitfinex created these products to follow an unbiased approach to avoid disputes within the developers’ community.

The updates come in the wake of a bear market that has shocked many investors. Tron supporters have openly stated that the announcements from the house of Tron have come as a sort of reprieve when a lot of the other cryptocurrencies have gone silent on the developmental front. With price movement fluctuating tumultuously, the Justin Sun led cryptocurrency has been trying hard to overtake its rival, Monero, on the cryptocurrency charts.

The community reeling after the announcement, Coin Lis, a cryptocurrency trader and blockchain enthusiast commented on Justin Sun’s Twitter announcement. She wrote:

“I knew some friends who were waiting for the EUR trading pair. They’ll be super excited! #trx #tron #crypto”

Another Twitterati, LockCrypto also put forth an opinion regarding TRX and the Bitcoin correlation movement. The comment read:

“More currency pairs / stable coin pairs means we don’t need to buy ETH/BTC anymore. go #tron level out the play field less correlation to bitcoin movement”