Japan Bitcoin Prices Hit 300,000 Yen, Trade Volume Doubles

Bitcoin spot rates on Japanese exchanges hit 300,000 yen ($2690) Saturday as the largest trading market continues to buoy prices.


Japan Exchange Frenzy: Coincheck Sees 97% Increase

As Bitcoin breached the $2000 barrier worldwide Friday, Japan’s exchange spreads had begun widening, with asking prices exceeding $500 above the average amount quoted on resources such as Coinmarketcap.com.

Compared to an average press time rate of $2080, major exchange Coincheck currently quotes a spot rate of 260823 yen ($2344).

Japan Bitcoin Prices Hit 300,000 Yen

Fellow exchange BitFlyer registered a 97% increase in trade volumes in the 24 hours to press time Sunday. By contrast, Kraken saw USD/BTC up 21%, Bitfinex 51% and GDAX 45%.

Dotcom, Saxobank: ‘I Told You So’

Momentum in Japan has steadily increased as Bitcoin gains more of a public profile in business and media circles. Most recently, a drive focussed on mainstream availability – and hence adoption – of Bitcoin payments will see hundreds of thousands more outlets able to accept the virtual currency.

These outlets include those of major payment apps and by extension Alipay.

The Japanese exchange climate is also of interest to traders abroad as prices accelerate and opportunities for profit-taking via arbitrage become an increasingly hot topic of conversation on social media.

Taking kudos already meanwhile are those who predicted current prices when Bitcoin was worth much less.

Among those were Saxobank and Kim Dotcom, both of whom forecast a $2000 Bitcoin in 2017.

 

The banking world has also seemingly reacted to the new personality of Bitcoin, with Norwegian Skandiabanken offering cryptocurrency-denominated accounts.

Mempool Woes Continue To Haunt Users

At the same time, however, all is not well. On a technical usability level, the Bitcoin network’s backlog of unprocessed transactions means that many investors are unable to benefit from arbitrage or other trading-based options afforded by the diverse exchange market.

The mempool is hovering around all-time high levels, vastly inflated compared to even two months ago, with even significant fee rises unable to impact on waiting times.

Having briefly dropped Friday, queues are now lengthening once more, with tools such as transaction accelerators either maxed out or charging comparatively high fees to increase the probability of a speedy confirmation.

A test transaction from Bitcoinist with a fee of 120 satoshi per byte, unconfirmed for 24 hours, would currently cost $4.66 to accelerate with BTC.com.

What do you think about the differences in exchange prices for Bitcoin? Let us know in the comments below!


Images courtesy of CoinCheck, BTC.com, Wikimedia.org

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CoinDirect Runs ICO to Offer Decentralized Platform for Casino Industry

Blockchain developer Nico Ami Lee announces the opening of the CoinDirect.io – an open source platform for online gambling where bitcoins & other major cryptoassets will be sent directly from player to player eliminating the third party. 


The mission behind project is to decentralize gambling experience further by moving casinos away from managing player’s funds with help of well-established blockchain networks such as Bitcoin, Ethereum & BitShares.

Cryptocurrency became the choice for many online. However, it did not solve one of the oldest problems of online casinos – transparency of the house and high fees. Up until today online casinos try to stay transparent with a method called “Fairness Check”, but often it does not work effectively as casinos always have the power to hide crucial information from the player.

In order to prevent this from happening all casinos need to undergo regular and thorough audits. This leaves casinos dependent from the auditors and additional costs associated with such compliance increase costs in operating a gambling business.

Nico Ami Lee a co-founder of the CoinDirect.io, explains the potential of the upcoming project: “With such application platform customers can conveniently develop, run, and manage blockchain layer applications without the complexity of building and maintaining the infrastructure typically associated with developing or launching an app.

The code execution platform enables developers to build and deploy a decentralized, automatic management of funds into almost any casino application without incurring any start-up costs. Therefore we create a truly transparent and decentralized solution to heavily regulated and relatively conservative market.”

With the help of CoinDirect existing casino networks can save millions and new-players may get into the market with much less effort and costs. Main advantages of the platform:

1. Complete transparency, therefore no need of additional auditing

2. Very low gambling fees

3. Full control of funds

4. Instant transactions

5. Direct money transfers from player to player & much more.

An idea of establishing a blockchain PaaS company has been developed since 2015, and in early 2017, the legal entity of “Coin Direct Ltd.” was established. Company is headquartered in Honk-Kong and operates as a small team of 5, plus several supporting members.

Team is raising money with help of crowdfunding campaign for further platform development. Company plans to launch a Beta version in October 15th and start mass-scale marketing of the platform from 1st of January, 2018. The token presale has started on 1st of April, 2017, ends on 31st of August, company issues 6,500 tokens on Bitcoin network. These tokens are designed to be used for dividend distribution and voting on the CoinDirect platform.


Images courtesy of Coindirect.io, Shutterstock

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CORION Announces Full-Service Blockchain Platform to Build & Manage Any Business Without Volatility

CORION , a Swiss-based innovator in crypto, today announced its multifunctional blockchain platform engineered for anyone looking to enter the crypto world and launch a successful business or service.


CORION eliminates the guesswork for coin holders who typically monitor exchange rates closely in order to know when and where to use cryptocurrency.

Instead, CORION’s system features a stable price point against the USD and relies on demand-based coin emissions within the CORION community, which offers a helpful contrast to the fixed coin supply and fluctuating rates of cryptocurrencies in the current system.

Instead, CORION’s system features a stable price point against the USD and relies on demand-based coin emissions within the CORION community, which offers a helpful contrast to the fixed coin supply and fluctuating rates of cryptocurrencies in the current system.

CORION is the gateway to the crypto world aiming to boost mainstream adoption with its easy-to-use interface and arsenal of crypto features all in one place. The CORION platform and ecosystem provides and hosts secure, convenient and instant financial transactions between members using CORION’s stable means of payment, and allows them to build a secure marketplace for their business or service.

“We have envisioned CORION as a boundless network of businesses and individuals to build a worldwide decentralized network that creates an unparalleled self-supporting global system,” said Miklos Denkler, Founder of CORION. “The core of the system is the unprecedented symbiotic relationship that will interweave the economic players worldwide, providing tools and conditions to do business either within a local community or around the globe in developed or in emerging regions. The question is who will benefit from the exponential growth of the cryptocurrency users?”

“As the recent rally of Bitcoin and top 10 altcoins suggest, it has become clear that the number of cryptocurrency users will continue to grow,” said CORION’s cryptocurrency expert Zoltan Bor.

Mainstream users desperately seek a simple solution to enter the crypto world and use all of the possibilities it can offer, such as buying and selling on exchanges, transferring funds all over the world, and paying with the coins they have.

The platform is especially suitable for beginners and is engineered for enterprise with these key offerings:

  • MARKETPLACE: Engage partners and customers, and discover unbanked people worldwide as a service provider.
  • STABLE PRICE DIGITAL CURRENCY: Special automated inflation-deflation control assures the stability of CORION Coin, the payment medium of the Platform.
  • INCENTIVE-BASED DAILY REWARD SYSTEM: Users earn interest through the basic providers, without having to deposit or to pledge their coins.
  • MULTIFUNCTIONAL WALLET: Ensures the tools and backup for the players to transact in the most used cryptocurrencies as a unique payment gateway.
  • BUILT-IN P2P EXCHANGE: Theft-proof exchange starts with ETC/COR pair and enables use of the CORION Platform with FIAT and the most widespread cryptocurrencies.
  • CORION GAMIFICATION: ‘Earn and learn’ process enables users to win money as they learn how the platform works with entertaining activities and games.

CORION’s full concept and mission are detailed in the foundation’s roadmap. CORION is also providing an opportunity to support its mission with an upcoming token sale of the CORION Coin (COR) launching June 2017. For more information, please visit: http://www.corion.io.

About CORION

CORION is a Swiss-based multifunctional platform for businesses and individuals to join and build a worldwide decentralized network based on mutual benefits, simplicity, security, cost-effectiveness and speed. The Platform provides and hosts secure, convenient and instant financial transactions between the members using CORION, stable means of payment. The platform encourages users to build businesses and services on it and it is ideal for beginners and anyone looking to enter into the crypto world. For more information, visit http://www.corion.io.


Images courtesy of Corion, Shutterstock

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