Connect with us

News

Paulo del Puerto | Moneybees | 2020 Year in Review

Avatar

Published

on

Please share and grow the BitPinas community.

January 14, 2021 — Every person you ask will say the same thing: 2020 is unlike any other year. 

The cryptocurrency industry felt the full brunt of the pandemic, as evidenced by the March 2020 crash. Nine months, one Bitcoin halving and a couple of institutions later, the industry sees a resurgence in interest brought about by Bitcoin hitting and breaking the psychological all-time high at $20,000 and reaching a new one of $42,000.

Table of Contents.

What is the 2020 Year in Review?

BitPinas sought the opinion of key crypto and blockchain leaders/influencers in the Philippines and abroad on what they think about 2020 in general and what they look forward to in 2021.

What does your organization do and what is your role in it?

Paulo: Moneybees lets people buy and sell crypto using almost ANY crypto wallet easily through our physical outlet partners and our online trading desk.

Please share a personal highlight for you and/or your organization this year in the crypto and blockchain space.

We received our BSP License on Feb. 2020 and shortly after, the lockdowns happened. So we had to pivot quickly and effectively since our business model was to provide OTC trading via our physical outlet partners. In order to do this, we sought the guidance and approval of the BSP. And after a month, we were able to launch our online trading channel alongside our physical outlet partners.  

What do you think is the most important blockchain/crypto development in the Philippines and globally in 2020?

In the Philippines, it’s not directly pertaining to crypto or blockchain, but I think the most important development is the wide adoption of virtual currency. With the social distancing imperative, Filipinos have become accustomed and comfortable in using virtual currency, and I believe this will eventually lead to adoption of cryptocurrency in general (without even realizing that the underlying technology is crypto and blockchain). As I’ve always believed – people don’t really need to understand how crypto or blockchain works to adopt it — they just need to be comfortable using it.

Globally, definitely Paypal adding crypto into their offering is a very important development. As with what I mentioned earlier, this paves the way for adoption of a wider user base. I believe this move by Paypal somehow removes bitcoin’s perceived “complexity” by non-techie people (i.e. the general public) and gives them a way to just buy and sell it like any other virtual good. 

How did the pandemic change how your organization operates? Or how you’ve changed your approach?

The lockdowns challenged our business model since we mainly partner with physical money service businesses to offer OTC crypto transactions. We had to quickly get the guidance and approval of the BSP to adopt our model into online. 

What is your fearless 2021 crypto prediction or forecast?

As more companies see the value (not just the price) of bitcoin, crypto and blockchain, we may see more local and global non-crypto mainstream and big tech companies follow the footsteps of PayPal by integrating crypto into their offerings.

What do you personally look forward to in this space?

Personally I look forward to what Paypal is going to do further with crypto. Currently, their implementation is still very limited – just buy, sell, and hold. There is no option to deposit nor send. Will they allow merchants to accept payments in crypto. We’ll see.

Despite the lockdowns and the sudden shift in our business, 2020 has been a good year for us as a company. And with the lockdowns becoming looser and people are adapting to the new normal, we are excited to further rollout to more of our outlet partners. Our online channel has also garnered a lot of traction so we plan to make our customer experience through our online channel even more convenient.

Follow Paulo on Linkedin. Check out Moneybees on its website and Facebook page.

This article is published on BitPinas: Paulo del Puerto | Moneybees | 2020 Year in Review

Please share and grow the BitPinas community.

Source: https://bitpinas.com/feature/interview/paulo-del-puerto-moneybees-2020-year-in-review/

Blockchain

DOGE is now supported at 1,800 ATMs in 45 US states

Republished by Plato

Published

on

Famous meme crypto Dogecoin (DOGE) can now be accessed through 1,800 ATMs across the United States.

Leading Bitcoin ATM provider Coinflip announced the support for Dogecoin on Mar. 1, with the company’s CEO and co-founder, Daniel Polotsky, attributing the move to DOGE’s recent “popularity and recent mass adoption.”

On Feb. 4th, the cryptocurrency’s price rose 25% within minutes after Tesla and SpaceX founder Elon Musk posted a rocket going to the moon and adding “Doge” in the comments.

Two days later, the world’s second-richest man continued his Doge shill, posting a survey that asked if Dogecoin will be the earth’s future currency — to which 71.3% of the 2.4 million respondents said yes.

NBA Dallas Mavericks owner Mark Cuban joined the conversation on Feb. 8, telling Forbes that the attention the meme coin is receiving is “not a bad look” for the industry.

“[DOGE] gives you a better chance of winning than a lottery ticket all while teaching the economics of supply and demand and introducing people to crypto asserts,” said Cuban. “I truly love it as the lowest cost economics teaching tool available that entertains at the same time.”

Within the first two weeks of February, the cryptocurrency’s price rose almost 200% from $0.03 to just shy of $0.09. Since then it has slowly consolidated near $0.05.

Some users have been speculating that Dogecoin’s price surge wasn’t entirely organic with an 85% price pump occurring from Reddit group /WallStreetBets after the GameStop saga died down. A couple of days later on Feb. 1, Kiss frontman Gene Simmons told Twitter users that he will buy the crypto among others, resulting in an additional 40% price surge over a 24 hour period.

Coinflip has seen astronomical growth in demand over the last 12 months, with revenue more than tripling year-on-year as the firm increased its ATM count from 441 to roughly 1,800 since January 2020. Coinflip ATMs are installed in 45 of the United States’ 50 states.

The firm’s ATMs also support BTC, ETH, BNB, DASH, LTC, LINK, USDC, and XLM.

Source: https://cointelegraph.com/news/doge-is-now-supported-at-1-800-atms-in-45-us-states

Continue Reading

Blockchain

This billionaire takes a ‘deep dive’ into crypto, worries he is too late

Republished by Plato

Published

on

Daniel Loeb, chief executive of Third Point, a $15 billion hedge fund has been doing a deep dive into crypto lately and found that the sector can be a “real test” of being intellectually open “to new and controversial ideas.” In a response to a tweet from Chris Dixson, general partner at Andreessen Horowitz, Loeb added

Maintaining healthy skepticism while also deepening one’s understanding requires one to engage in what Steve Jobs (and Fitzgerald before him) described as requisite for a superior intellect: “to maintain two opposed ideas in one’s mind and retain the ability to function.

At the same time, Loeb, who is a philanthropist is worried about being late “to the crypto party,” which in his opinion is like “taking the sucker seat at a high stakes poker table.”

The tweet attracted CNBC anchor Joe Kernen to respond that perhaps Loeb has waited far too long. Kernen claimed that Leob, who watched BTC climb to $48,000 from $8, maybe “resisted the entire way.” He found Leob’s opinions rather conflicted, but said that it was better late than never to enter crypto. 

Kernen may have touched on another side of crypto where those who are considering investing, do so with a hint of regret. Nevertheless, crypto has gained mainstream spotlight, quite literally. Elon Musk, Gene Simmons, and many others… the list of Bitcoin influencers keeps growing. On 28 February, even Hollywood actor Ben Stiller used the Golden Globes platform to declare that he has “come to fully understand the nature of cryptocurrency.”   

Other mainstream voices dig deeper and compare Bitcoin with gold and fiat. The most recent being Jurrien Timmer, director of Global Macro at Fidelity. He said that BTC has a “unique advantage over gold.” According to him, the crypto “has evolved” to an extent that it can be “treated as a form of digital gold” and hedge future monetary inflation. 

Interestingly, most people who come to understand crypto, conclude that economies can no longer run on fiat or gold.

Source: https://eng.ambcrypto.com/this-billionaire-takes-a-deep-dive-into-crypto-worries-he-is-too-late

Continue Reading

Blockchain

Why Mark Cuban is looking forward to Ethereum’s use cases

Republished by Plato

Published

on

Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said:

Because now, all these SaaS companies, all these different companies, I could see just disrupting the f**k out of them. 

He proposed two scenarios where Ethereum’s blockchain tech could prevent “fraud” and protect consumers. For instance, in an accounting system where trained accountants earn crypto tokens; he added: 

And now, they [accountants] look at a general ledger entry, and they all have to have consensus on the general ledger entry, and they don’t know each other. There’d be no Enrons. You wouldn’t have the level of fraud that you have now. 

In another scenario, Cuban imagined the application of blockchain in healthcare. In this case, “validators” who all independently verify transactions will make the system fair for all, as opposed to insurance firms that could deny patients claims.  

Since the entrepreneur is all praise for blockchain tech, it comes as no surprise that Cuban, who owns the Dallas Mavericks basketball team, is considering using the tech for his sporting venture. During the interview, he revealed that plans to use blockchain for “ticket sales” were in the talks.

Coming to Bitcoin, Cuban believed that the asset is “better than gold,” and said: 

Whether it’s Bitcoin or Ethereum, or even maybe some other choices, when somebody owns that, they become their own personal banker.

Cuban had stated, in the interview, that his opinions on crypto assets have been evolving over time. He once had claimed that as long as people accepted Bitcoin “as a digital version of gold,” it was investable. At the time, Cuban was of the opinion that BTC, ETH and tokens that support DeFi were rarely used as currency.

Now, Cuban said that US government needs to embrace crypto over gold because the yellow metal “useless.” 


Sign Up For Our Newsletter


Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases

Continue Reading
Blockchain4 days ago

Gemini collaborates with The Giving Block and others, adds donations option

Blockchain4 days ago

NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Blockchain1 day ago

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

Blockchain4 days ago

What Coinbase Going Public Could Do For Crypto

Blockchain4 days ago

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot

Blockchain3 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain5 days ago

Tezos, IOTA, Dash Price Analysis: 25 February

Blockchain3 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain5 days ago

Coinbase public listing filing details 2020 revenue, major a16z stake

Blockchain11 hours ago

Why Mark Cuban is looking forward to Ethereum’s use cases

Blockchain2 days ago

Korean Government To Levy Taxes On Bitcoin Capital Gains Starting 2022

Blockchain3 days ago

XRP, STEEM, Enjin Price Analysis: 27 February

Blockchain2 days ago

Inverse Finance seizes tokens, ships code: Launches stablecoin lending protocol

Blockchain2 days ago

NBA Top Shot leads NFT explosion with $230M in sales

Blockchain2 days ago

Polkadot, Cosmos, Algorand Price Analysis: 28 February

Blockchain3 days ago

‘Bitcoin could reach $1 million or $1, and may do both of those’

Blockchain3 days ago

Here are 6 DEX tokens that have seen exponential growth in 2021

Blockchain3 days ago

6 Questions for Kain Warwick of Synthetix

Blockchain2 days ago

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

Blockchain2 days ago

How KuCoin Shares (KCS) Can Create a Stream of Passive Income

Trending