Robinhood is Making Millions Selling Users’ Data to Financial Companies

No Such Thing as a Free Lunch: Robinhood User Info Sold

The low-cost Robinhood investing app popular with millennials makes up for the lost profits of commission-free trades by selling users’ data to other financial companies. What’s the Logic of Robbing Peter to Pay Paul? A Second Quarter SEC filing shows that Robinhood Financial (Robinhood) is actually making millions of dollars from selling users’ data to high-frequency trading (HFT) firms. Recall, this is the same company that espouses values of ethical trading practices that benefit the

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World’s Longest Running TV Soap Opera Airs Cryptocurrency Storyline

Coronation street

UK soap opera, Coronation Street, played its part in raising cryptocurrency awareness this week, with a storyline involving the imaginary ‘WhipCoin’.  Rags to Riches to… Coronation Street is the worlds longest running TV soap opera, with a regular audience of around 8 million. In the programme, Ryan Connor, a semi-regular character since 2006, has gambled away the money he earned DJing in Ibiza. He then remembers investing 50 quid (£50) in WhipCoin several years ago. A quick internet search

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Decentralized Platform to Substantially Reduce Streaming Commission Fees to 0.77 Percent

A new blockchain-based platform is aiming to substantially reduce the commission streamers pay on their earnings from loyal fans and advertisers.

A new, decentralized global platform is aiming to help streamers keep more of their earnings — and create a blockchain-driven ecosystem where they will find it easier to receive donations from their loyal viewers.

According to DeStream, the esports market is growing, and as a result, audiences on popular streaming services such as Twitch, YouTube and Mixer are increasing by an average of 10 percent a quarter. This has coincided with a rise in the sums of money being donated to streamers by appreciative fans. A company presentation cites figures from SuperData Research which show donations to professional gamers neared $800 million in 2017 alone.

DeStream announced that the ecosystem will be integrated first in such streaming services as Youtube, Twitch, Mixer and afreecaTV. The company believes these integrations may increase the initial price of the DST token because they will be widely used among streamers and would lay a strong foundation that should keep the project afloat, compared to other IСOs. Whereas talents currently face high fees from the offered payment gateways, DeStream is planning to reduce them substantially — to 0.77 percent per transaction.

The startup also wants to make it easier for content creators to access other revenue streams which, until now, have been the preserve of top-tier talent. DeStream says its infrastructure will enable advertisers to launch campaigns with the sector’s rising stars, and use big data to ensure their promotions reach the right people and achieve the biggest possible impact.

Shifting the focus back to content

According to DeStream, its suite of solutions will help reduce the distractions facing streamers and give them the opportunity to focus on producing premium broadcasts. The company stresses that it is not designed to be a streaming platform — but instead will be integrated into existing ones.

To engage viewers, streamers will be able to use dozens of smart contract templates “for the implementation of almost any idea,” the platform’s white paper reveals. Fans stand to benefit because they will enjoy higher levels of engagement with their idols — with features such as live voting by using tokens, enabling them to be active participants during a stream rather than passive viewers. An internal marketplace also means fans can purchase skins and in-game goods in one place.

DeStream says that the DST token is going to be at the beating heart of its ecosystem and will offer a plethora of features. As well as enabling viewers to make donations, it will mean streamers can be rewarded by advertisers for engagement. While the company is aiming to make withdrawing funds easy for streamers, it hopes to simplify managing funds further in future by launching a debit card, enabling them to spend their income in stores or withdraw cash from ATMs.

DeStream is also creating a not-for-profit organization known as the Worldwide Streamers Association, which has the goal of maintaining and developing the industry and allowing professionals to share their experiences and train others. In time, it’s hoped that this association will help promote the market and help businesses thrive.

Taking things to the next level

The company has released a detailed roadmap which unveils its priorities for the future. During the first half of 2019, DeStream hopes to run an alpha version of its platform — including a mobile app — and develop a blockchain-based voting system. Later in the year, it hopes to launch a beta version of its marketplace and throw an annual event known as DeStream Festival. Following testing, its mobile applications are also set to be released for the first time.

Its public token sale ends on Sept. 30.

The co-founder and chief executive of DeStream is Anar Mekhtiev. As well as teaching a number of courses focused on blockchain, he has more than 15 years’ experience in software development. His fellow co-founder and CFO is Tachat Igityan, who was named as one of the 50 most influential people in web development by Tagline.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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To Sell or Not to Sell: That Is No Longer The Question For Miners

Today, cryptocurrency mining operators could benefit from taking out loans while using their mined coins as collateral to cover their expenses and persevere during the current bear market.  Miners Can’t Hodl…or Can They? Large-scale miners have enormous fixed costs, which they must pay regardless of the price their mined coins are currently worth. Indeed, many mining farms operate on thin margins and a shoestring budget, where expenses like electricity, rent, and other overhead costs must

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FUD No More: South Korea Set to Adopt G20’s Unified Cryptocurrency Regulations

As the G20 works to create a set of “unified regulations” in regards to cryptocurrencies, the government of South Korea — the third largest cryptocurrency market in the world — reportedly plans on playing ball with whichever policies the international forum of governments and central bank governors put into place. ‘We Will Step up Efforts to Improve Things’ According to China Money Network, local media has also reported that Korean regulators have agreed to apply the Financial

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Watchout! Satori Botnet Targets Exposed Ethereum Miners

Yesterday, BleepingComputer brought to light recent reports that have Ethereum miners worried, as enslaved internet-connected devices have been targeting miners worldwide.  Evidence filed by multiple internet security companies have shown that the Satori botnet, a system of IoT devices which number in the tens of thousands, has been trying to infiltrate Ethereum miners through a 3333 port exploit. This specific port has often been a way in which miners can remotely control their mining equipment,

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Coinbase Aims to Obtain Banking Licenses

Coinbase, the largest U.S. Bitcoin exchange, has initiated exploratory conversations with financial regulators regarding banking licenses. Coinbase and Ivy Koin Meet with U.S. Regulators About Banking Licenses Coinbase is now intent on learning how to obtain banking licenses. The Wall Street Journal reports that, according to undisclosed sources, the exchange held conversations with officials from the U.S Office of the Controller of the Currency in early 2018. According to the report: Coinbase Inc. and another cryptocurrency

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People’s Bank of China: ‘Government Must Have Monopoly on Currency Issuance’

A seasoned counselor at the People’s Bank of China (PBoC) maintains that the control for currency issuance should remain within the government. The senior official also said that blockchain technology must remain astray from finance. His statements come despite the country’s intentions to create a state-owned cryptocurrency. Decentralization is Bad Spoken like a flat-out banker, Sheng Songcheng, a senior counselor to PBoC with more than two decades of experience, said that blockchain-based technology needs to

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Nocoiner Financial Advisers Are Failing Their Clients

With institutional investment being something of a major theme in the blockchain space these days, financial advisors better start studying up on cryptocurrencies and their underlying technology – and fast – lest they risk losing their clients.  ‘It’s Really Here to Stay’ JP Morgan chairman Jamie Dimon once called Bitcoin a “fraud,” and Vanguard CEO Tim Buckley once told CNBC, “You will never see a fund from Vanguard on bitcoin.” Their loss. Despite a slew of negativity

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Kepler Pre-Sale Just Around the Corner as Market Stabilizes

After receiving even more excellent ratings from leading blockchain experts over the past few days, Kepler’s long-awaited pre-sale is now just around the corner.  Life-Changing Inventions The second phase of the pre-ICO is set to start on May 22, will last for two weeks, and will have 5,000,000 tokens available for sale. Each token will be valued at $1.25 and can be bought using Bitcoin and Ethereum. There is also set to be a stunning

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