Huobi Pro opens its doors in South Korea

South Korea is making progress again. The second largest crypto exchange in terms of trading volume has now opened its Huobi Pro branch. The guidelines may be comparatively restrictive. However, the opening shows that crypto currencies cannot be stopped.

If one deals with crypto currencies, one cannot avoid South Korea. In the last months the news did not break off. First there was a rumour that they wanted to ban crypto currencies, then they simply thought about a ban on anonymous transactions. After all, the South Korean people fought back with a successful petition, which in turn put the government under pressure. Since 30 March, there have been positive reports again: The Huobi crypto exchange opened a branch in the East Asian state.

Huobi Pro promises increased Bitcoin evolution

As the operators report in the official announcement, 201 trading pairs of 99 Altcoins can be traded there in the future: Is Bitcoin Evolution a Scam? Beware, Read our Review First. They also point out that they are following South Korea’s guidelines. In addition, they explain, among other things, that they only offer a Bitcoin evolution trading platform without selling digital assets themselves – you only pay for the service. The fees are 0.2% of the traded price.

There is also the option of opening VIP accounts. These have five different levels, which offer a discount of 10 to 50 % on the fees in steps of 10. According to Huobi Pro, they also offer offline storage, which should guarantee additional security. They also use 2-factor authentication. In their terms of use, however, the operators point out that they cannot give a final guarantee for losses in the event of technical failures. One of the reasons given for this is that they are unable to control the „stability and usability of the Internet“.

Minimum age: 16 years, basic condition: Real names

In accordance with the South Korean guidelines for trading crypto currencies, they point to the fact that they must take strict action against possible illegal activities and cooperate with the authorities if necessary. In addition, when registering for Huobi Pro, members undertake to register with their real names and to be at least 16 years of age. Finally, the Exchange reserves the right to change the guidelines at any time without explicitly warning users. If users fail to leave the Exchange in such cases, they automatically agree to the changes. Ultimately, Huobi Pro reserves the right to deregister accounts that have been inactive for more than one year – what happens to any remaining assets is not explicitly mentioned. If you resist the regulations, you have to pay the stock exchange a fine of at least 200 million US dollars.

Good prospects despite restrictions
As mentioned at the beginning and as the explanations on the guidelines show, the basic features of HuobiPro contradict the basic ideas of crypto currencies. Here, little value is (necessarily) placed on decentralization and anonymity. But, and this is much more important: Despite state restrictions and corresponding attempts at regulation, crypto currencies and exchanges find their way.

The iced tea miners or: stock market profits thanks to Bitcoin evolution

From iced tea to blockchain: According to an investigation by the US Securities and Exchange Commission (SEC) this week, the iced tea producer Long Blockchain is following its announcement with deeds and is currently expanding its mining business. With Chinese infrastructure from Bitmain, the company is thus following the change in the company’s course announced in December. Like many others, the beverage producer had not only announced that it was moving its business into the digital realm, but had also made a name for itself in marking this change and thus fired the starting shot for a genuine stock market flotation of its shares.

Bitcoin evolution gains thanks to name change

Blockchain – Hardly any new word creation seems to spray these days more future-orientation, esprit and innovative zeitgeist. Wherever Bitcoin evolution scam is written on it, it sells. This insight from last year 2017 has left its mark on many companies – be they banks, Fintech or supermarket chains. The iced tea manufacturer Long Blockchain is one of these free riders. After the tea producer formerly known as Long Island Icetea announced the name change last year, the next step in the New Yorker’s strategic Bitcoin evolution scam realignment is now following.

According to an investigation by the US Securities Exchange Commission (SEC) last Friday, 5 January, the company currently supplies 1,000 Bitcoin AntMiner S9 computing units from the Chinese manufacturer Bitmain. This is the first important step, according to company sources.

And the Bitcoin evolution continues

„We see the purchase as an important and decisive first step in the company’s focus on Bitcoin evolution technology. The start of our mining companies puts us on course to achieve bitcoin-blockchain-based profits in the Bitcoin evolution review future“, says Philip Thomas,

says Philip Thomas, Managing Director of Long Blockchain Corp.

With a view to the future production location, Long Blockchain is currently only claiming to want to gain a foothold in a „Nordic country“. Nevertheless, speculations remain as to whether Iceland, for example, could become the promised land of entrepreneurial reinvention due to low energy prices.

In addition, however, the company wants to continue to hold on to its iconic brand name and the associated beverages division.

This is the first time that the company has given shape to its plans to focus on blockchain technology in the future. Managing director Thomas had previously described this change in the company’s course as a unique opportunity.

In the course of the realignment and the associated change of name to Long Blockchain, the company also managed a remarkable coup on the American NASDAQ stock exchange.

The price of the company’s shares went through the roof after the renaming from just under two to around nine dollars and sniffed unimagined mountain air. All in all, the share price rose by almost 450 % – solely on the basis of undefined innovations in the future.

However, the Long Blockchain case is only one of many. Worldwide there is currently an increasing number of witnesses of strategic name changes, announcements and speculations around the supposedly future-determining terms blockchain and crypto currencies. For example, the British Internet company On-Line Blockchain was able to increase its share value by 400% with the name suffix Blockchain alone. In Germany, the broker Fritz Nols managed a similar feat at the end of December. Prior to this, the company had announced its intention to include crypto currencies in its portfolio.

As Bloomberg reports, the word „blockchain“ was found in 110 press releases in the first four days of the year alone.

This makes one thing clear – as long as the hype continues, speculation will continue and money will be earned on stock exchanges with mere empty words. The Long Blockchain case will therefore by no means be the last.

Glenn Hutchins: No Blockchain without Bitcoin!

Currently, banks and financial institutions are investing a lot of time and effort in adapting the blockchain to reduce IT management costs and enable stable, cost-effective transactions. Glenn Hutchins points out, however, that Bitcoin behaves more like copper than like gold; just as electronics cannot exist without copper, according to Hutchins the blockchain cannot exist without Bitcoin.

Glenn Hutchins, co-founder of Silver Lake Partners

A $26 billion private equity firm, spoke at a conference hosted by Brookings Institution about the banks‘ growing interest in Blockchain technology. As is well known, many banks are working on a private blockchain. Hutchins commented on this:

„A private ledger behaves to the blockchain like the intranet behaves to the Internet. (…) The intranet certainly had strengths in the context of collaboration with colleagues, but a major transformation could only take place through a seamless world wide web. It makes banks happy to think about private blockchains, as this would keep the costs for the banks low.“

Banks and leading financial institutions are currently trying to adapt blockchain technology to keep IT costs low and enable stable, cost-effective transactions. The aim is to enable a novel, blockchain-based financial system for real-time regulation of payment transactions and asset values. Complete control over this would be achieved by adapting a system other than Bitcoin and a centralized blockchain solution.Hutchins points out, however, that Bitcoin would behave more like copper than like gold; the blockchain could not exist without Bitcoin any more than electronics without copper.

Bitcoin: The copper of the blockchain

Bitcoin acts as a quantum within the blockchain network to transfer things of countable value between users. Bitcoin derives its value from its demand and the high security guaranteed by millions of miners. Such technologies and currencies cannot simply be developed by individual, centralized organizations, and that, Hutchins said, is exactly what would differentiate Bitcoin from other, centralized legacy coins in its value and dominance.

„Copper is the more accurate analogy for Bitcoin; copper is a metal that is mined, it has a definite value and is an object of trade and barter. The fundamental reason for all this, however, is that it can carry electricity and voice messages; copper is a carrier for something we use every day. Likewise, Bitcoin is a carrier for the value we attach to this system. The system cannot function without this value.“

If banks such as the independent blockchain financial institutions participating in the R3 conference were to set up networks with centralized authority and arbitrary currencies, it would be like creating an intranet of international banks that could not be seen by the normal population.

Some financial institutions have already created their own blockchains, such as the Commonwealth Bank of Australia. But how these banks convert their internal crypto currencies into Fiat remains a mystery. Many financial experts speculate that banks are having difficulty building a blockchain technology because they do not yet have a method to introduce their own crypto currency with a long-term stable value.

Therefore, according to Hutchins, it is important to realize that it is hardly possible to use a unique and independent blockchain network without using Bitcoin as an international investment.