LedgerX announces new Halving Contract to bitcoin

Posted 06 February, 2019

US-based regulated futures platform LedgerX introduces a new type of contracts that are said to be unique to bitcoin.

As the company stated in the report, the announced contracts called LedgerX Halving Contract (LXHC) will actually represent a  binary option, which means that there are scenarios a user can either get a fixed amount of money or nothing, that settles when Bitcoin halves the next time.

The bitcoin network is reportedly developed in such a way that this halving happens once every four years. The halving is a networking event in which the miners' reward for a new block within the bitcoin blockchain declines 2-fold. The previous halving was recorded in 2016 since then miners can receive only 12.5 BTC for a new block instead of 25 BTC.

"This contract will allow you to get a fixed payoff if the next halving block (#630,000) happens before a certain date and time. If the block is discovered after, the contract expires at zero,” LedgerX explains. Given the relevant network data, the next halving is expected on May 25, 2020.

Although binary options have always been seen as gambling, "bitcoin is unique in that there is a fundamental economic risk that is binary". In the current circumstances, miners realize that the number of BTC mined will halve one day in 2020. But the exact date is yet unknown. As a result, it might impact long term investments as well as operations but might bring new opportunities for the market participants as well. 

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07 February, 2019 12:12

← Ethereum buying now available for Opera Android-based wallet

One of leading web browser Opera has announced an expansion of the services available in its Opera application for Android. Some European countries will get access to purchases of Ethereum via the in-built wallet in the application. The new opportunity is reportedly available only in Denmark, Sweden and Norway. The service will feature high crypto buying fees reaching 7%, though as it was noted the fee will initially be set at 2.5% for Sweden and 5% for Denmark and Norway.

Ethereum buying now available for Opera Android-based wallet

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06 February, 2019 14:51

Coinbase expands its wallet with bitcoin support →

US-based exchange Coinbase with headquarter in San-Francisco is said to grant its customers the opportunity to control bitcoin from Coinbase Wallet. At the same time, the application has been available for about six months already. The company is heard to be working on further service expansion targeting Bitcoin Cash , Litecoin (LTC), as well as other major cryptocurrencies in the long run.

Coinbase expands its wallet with bitcoin support
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