Crypocto

[Calex12]

Core Scientific files for bankruptcy

One of the largest bitcoin miners, Core Scientific, has failed to cope financially and filed for Chapter 11 bankruptcy on 21 December 2022.

For the time being, the company still manages to generate positive cashflow. But according to an insider, this revenue is not enough to pay off debts to finance the miner's units it has been leasing.

The firm has no plans to liquidate. They will continue to operate and mine the cryptocurrency until they make a deal with the majority holders of their shares.

Miner claims that its operating performance and liquidity have been severely affected by the prolonged decline in the bitcoin price, higher power costs, and litigation with cryptocurrency lender Celsius Networks and its affiliates.

The other day, B. Riley committed $72 million to bailout Core Scientific, but as it turns out, that didn't help save them from bankruptcy.

Reckless and Massive loans which were made when the price of bitcoin was significantly higher than it is today, finally took a bad joke with them

[bmwister]

The New Year is just around the corner!

It's been a difficult year, but we have survived and continue to develop successfully even in the toughest of times. Despite all the difficulties, we delight our customers with pleasant exchange rates, low commissions and a wide range of currencies for exchange.

In the next year we wish you predictions to come true and your balance to be always positive, less liquidations and stormy weather on the market, more reliability and growth where it is needed. And of course, more balance in your wallets, and we will help you with that!

Happy New Year! Your Crypocto team

[bmwister]

SWIFT to introduce crypto features in next update

The internationally recognised financial communications network SWIFT plans to introduce crypto and blockchain features on 19 November 2023.

First of all, they will improve the system's securities reports so that they are suitable for identifying digital assets. Next, the company will add new features related to tokens and implement blockchain wallet address identification. They are also looking at different options for crypto asset storage services.

Since the announcement appeared in the business section, it is not clear whether individuals will be able to use the new options. It is worth bearing in mind that SWIFT is a network for exchanging electronic information between banks. This is not exactly in line with the idea of blockchain, which means a network without intermediaries.

In September, SWIFT and Chainlink launched a pilot project to test cross-chain transactions. And in the US market, they are testing a separate technology that will combine payments between 7 major financial companies. They include asset managers Vanguard and Citigroup.

[digaran]

Hi, posting crypto news doesn't look very well for an ANN topic, this topic should only be about the service you are providing. On the first post, it says no registration needed, but seems to me that we do need to register after all.

[Tenystr]

Hi, posting crypto news doesn't look very well for an ANN topic, this topic should only be about the service you are providing. On the first post, it says no registration needed, but seems to me that we do need to register after all.

You must be missing something, even if you closed the tab with the exchange, you are still able to resume it with order finder without being logged in
https://i.imgur.com/nq1MGaZ.png

[Bitcoin_Arena]

Hi, posting crypto news doesn't look very well for an ANN topic, this topic should only be about the service you are providing. On the first post, it says no registration needed, but seems to me that we do need to register after all.

You must be missing something, even if you closed the tab with the exchange, you are still able to resume it with order finder without being logged in

His point is that in the Announcement, OP claims that the service does not require any registration

Why is Crypocto the best?
Rapid because you don't need to register to exchange.

But this


and the privacy policy disagree

What's the point of registration then if it is not required?

[bmwister]

Australia's first Lightning Network-enabled crypto machine

The Australian city of Coolangatta has installed a Lightning Network-enabled crypto machine. This is the first physical implementation of Tier 2 technology for bitcoin.

Why it is important

Traditional bitmachines conduct transactions directly on the blockchain. This has its own disadvantages. For example, ISPs have had to move to batch transactions, which has caused fees for miners on the Bitcoin network and for buying BTC through a crypto machine to increase significantly.

Batch transactions slow down the speed of transactions. That is, in practice, the user deposits cash through an ATM, but the cryptocurrency does not arrive immediately. Operators, meanwhile, collect other bids from those wishing to buy BTC. They then group the transactions and send them in one package.

Lightning Network technology solves the problem. It is a Layer 2 protocol that offers high scalability and low transaction costs. The Lightning Network solution promises lower transaction fees. Buyers through such technology will be able to buy minimal fractions of BTC in satoshi.

[Tenystr]

His point is that in the Announcement, OP claims that the service does not require any registration
What's the point of registration then if it is not required?

Oh yeah, now i see whats ur talking about
I was a bit confused with registration requirements, as the main process is clearly possible without being registered, i mean its just like click and done
But now it could make someone to consider about rewriting privacy policy

[bmwister]

Israel may equate cryptocurrencies with securities

Israel's regulator (ISA) has published a proposal to extend securities legislation to cryptocurrencies and digital assets.

ISA's proposal covers three regulations:

"Securities and Derivatives Law" of 1968;
"Trust Co-Investment Act" of 1994;
The Investment Advice, Marketing and Portfolio Management Practices Bill of 1995.

The main thesis of the amendments is to introduce a reference to cryptocurrencies in the definition of securities. This will clarify the legal status of cryptocurrencies and prepare the basis for regulation in this area.

This applies to all assets that fall under "the definition of derivatives, even if they are not traded on a stock exchange". The updated bills would affect residents both inside and outside Israel.

Furthermore, if passed, the amendments would automatically place cryptocurrencies under ISA supervision. And while the regulator hides behind concerns about risks to investors, these creeps into the industry seem more like an attempt to tighten oversight in the wake of the high-profile FTX bankruptcy.

[bmwister]

Gemini officially closes Earn programme

Gemini clients have received a letter informing them that the stock exchange is terminating its loan agreement with Genesis Global Capital and halting the Earn yield program. The company stresses that the termination of the loan agreement does not affect Gemini's plans - they will continue to seek a way out of this situation.

Amid the cryptocrisis, credit broker Genesis has frozen withdrawals. And because they were Gemini's partner, the cryptocurrency exchange had to block deposits in its Earn programme.

Last week, Gemini co-founder Cameron Winklevoss posted an open letter on social media in which he accused DCG and Genesis founder Barry Silbert of shutting down Gemini's Earn programme.

In another open letter, Winklevoss addresses the DCG board. He is asking the board to fire Silbert because he has driven the company into crisis.

So far, the parties have not given concrete answers as to when Earn investors will get their deposits back.

[Ndrisock]

Gemini officially closes Earn programme

Gemini clients have received a letter informing them that the stock exchange is terminating its loan agreement with Genesis Global Capital and halting the Earn yield program. The company stresses that the termination of the loan agreement does not affect Gemini's plans - they will continue to seek a way out of this situation.

Amid the cryptocrisis, credit broker Genesis has frozen withdrawals. And because they were Gemini's partner, the cryptocurrency exchange had to block deposits in its Earn programme.

Last week, Gemini co-founder Cameron Winklevoss posted an open letter on social media in which he accused DCG and Genesis founder Barry Silbert of shutting down Gemini's Earn programme.

In another open letter, Winklevoss addresses the DCG board. He is asking the board to fire Silbert because he has driven the company into crisis.

So far, the parties have not given concrete answers as to when Earn investors will get their deposits back.

Genesis was disappointed that Gemini is waging a public media campaign despite ongoing productive private dialogue between the parties. This is a very comples process that will take some aditional time.

[bmwister]

Hi, posting crypto news doesn't look very well for an ANN topic, this topic should only be about the service you are providing. On the first post, it says no registration needed, but seems to me that we do need to register after all.

Hi. Thank you for your comment. We will take it into consideration.
On our website you can make exchanges without registration. This is an advantage of our website.

[bmwister]

Hi, posting crypto news doesn't look very well for an ANN topic, this topic should only be about the service you are providing. On the first post, it says no registration needed, but seems to me that we do need to register after all.

You must be missing something, even if you closed the tab with the exchange, you are still able to resume it with order finder without being logged in

His point is that in the Announcement, OP claims that the service does not require any registration

Why is Crypocto the best?
Rapid because you don't need to register to exchange.

But this


and the privacy policy disagree

What's the point of registration then if it is not required?

Hi. Thank you for your question. On our website you can make exchanges without registration. This is an advantage of our website.
The policy states:
"By further using the Crypocto Service and/or registering to use the Service, you acknowledge that you have read, understand, accept and agree to abide by the User Agreement and Privacy Policy governing your use of the Crypocto Service."
And the "register" button is for those who wish to have an account and use our site on a permanent basis.

[bmwister]

Polygon (MATIC) is already on Crypocto!

Cryptocurrency exchanger Crypocto continues to expand its list of supported cryptocurrencies. The next coin we've added to the service is MATIC. It's a cryptocurrency from Polygon, a project that is working to improve the Ethereum network.

What is Polygon (MATIC)?

Polygon is a project that aims to improve the scalability of Ethereum. The project team is working to increase the speed of financial transactions, while reducing fees on the network. Polygon is also being used to create decentralised applications. In June 2022, the project was used to develop 7,000 applications in the DeFi, meta-universe, and games industries.

MATIC is Polygon's own coin. It is an ERC20 token based on the Ethereum blockchain. MATIC is the platform's internal cryptocurrency that can be used to pay fees on the network and to create decentralised applications. The cryptocurrency is actively traded on exchanges. As of January 19, it is ranked 10th by capitalisation at $8.8bn.

Polygon price history (MATIC)

The cryptocurrency MATIC has been around since 2017, but its heyday began in 2021. The digital coin has passed two peaks. The first occurred at the end of May 2021, when the cryptocurrency price surpassed the $2 mark. However, just six months later, at the end of December 2021, there was another MATIC price spike. At that time, its value reached $2.85. At the moment, the cryptocurrency has rolled back and is trading at just above $1. However, experts see a great future for MATIC, and expectations for this digital coin are positive.

With Crypocto exchanger you can buy, sell or exchange MATIC to other cryptocurrencies. We offer an exchange for any of more than 20 other cryptocurrencies, such as:

- Bitcoin (BTC).
- Litecoin (LTC).
- Ethereum (ETH).
- Dogecoin (DOGE).
- Dai (DAI) and more.

In addition, you can buy or sell cryptocurrencies for fiat money. Crypocto supports operations with the Ukrainian hryvnia and the US dollar. We offer favorable exchange fees and fast financial transactions. Go to Crypocto and buy/sell MATIC without restrictions!

[stuartn]

Polygon (MATIC) is already on Crypocto!

What do you think will happen to the Polygon after the ETC update release? As i see the need of Polygon would be significantly reduced

[stuartn]

thanks a lot for sharing your minds, appreciate that
Polygon has done well to expand its real-world utility. however, it is  more likely for us to see how Ethereum’s update effects on it next year

[bmwister]

thanks a lot for sharing your minds, appreciate that
Polygon has done well to expand its real-world utility. however, it is  more likely for us to see how Ethereum’s update effects on it next year

I agree with you. Time will show!

[bmwister]

USD is now on the list of currencies on Crypocto!

Many cryptocurrency investors use fiat currencies to buy digital assets. However, it is not always easy to find a tool that not only allows you to buy cryptocurrency for fiat, but also offers a favorable exchange rate.

Cryptocurrency exchanger Crypocto is exactly that. We offer favorable quotes, automatic exchange and a constantly expanding list of supported currencies. In particular, customers can now use the U.S. dollar (USD) for exchange.

Why USD support is important?

By adding USD to the list of supported currencies, our clients can buy any digital asset by paying in USD. Buying cryptocurrency in USD has several important benefits for both novice and experienced traders, including:
The U.S. dollar is the most common fiat currency in the world. Many people keep their savings in this currency, so it is easy to use for investments.
Many people have dollar cards. You can buy cryptocurrency using your USD account without any additional complications.
The USD is actively used for buying/selling cryptocurrencies, and the support of this currency is very important for both beginners and experienced investors.

Buying cryptocurrencies for USD at Crypocto

Cryptocurrency exchanger Crypocto offers customers the opportunity to buy cryptocurrencies for USD. In total, more than 20 digital assets that can be purchased for USD are available at our exchanger. Crypocto offers automatic processing of exchange requests. All requests are immediately sent to the blockchain, and once the transaction is processed in the blockchain, users receive funds without delay.

We are constantly working on adding new fiat and cryptocurrencies to our service. Take advantage of new features now!

[Rarakun]

Polygon (MATIC) is already on Crypocto!

What do you think will happen to the Polygon after the ETC update release? As i see the need of Polygon would be significantly reduced

the team behind Polygon has been actively working on improving the platform's infrastructure and functionality. For instance, they recently launched a new layer-two scaling solution called Avail that promises to enhance the speed and scalability of the network even further.
However, cryptocurrency prices are highly volatile and can change rapidly due to a variety of factors such as market sentiment, regulatory developments, and technological advancements. It's essential to do your own research and exercise caution when investing in any cryptocurrency.

[Rarakun]

thanks a lot for sharing your minds, appreciate that
Polygon has done well to expand its real-world utility. however, it is  more likely for us to see how Ethereum’s update effects on it next year

Nowadays i can summerize 4 main cons of polygon

Lack of differentiation: Some people might argue that Polygon doesn't offer enough unique features or benefits compared to other cryptocurrencies or blockchain platforms. They might see it as just another digital currency in a crowded market.

Lack of mainstream adoption: While Polygon has gained a following among the Ethereum community, some critics might argue that it hasn't yet gained enough widespread adoption to justify investing in it. They might argue that it's too risky to invest in a relatively new and unproven technology.

Concerns about decentralization: Some critics might argue that Polygon's reliance on Ethereum as its underlying technology means that it's not truly decentralized. They might argue that there are other blockchain platforms that offer greater levels of decentralization and security.

Technical issues: Like any technology, Polygon is not without its flaws. Some critics might point to technical issues or vulnerabilities in the system as a reason to be cautious about investing in it. They might argue that it's too early to know whether these issues will be resolved or if they will have a long-term impact on the technology's viability.

If you are not afraid of these minds, you can obviously try to invest and make money from it.