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Musician Believes China Is Behind the Ripple Lawsuit, Dollars Are Based on Nothing – Featured Bitcoin News

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Jamie Redman

The American musician, co-lead singer, and bassist for the rock band Kiss, Gene Simmons, has been very talkative about cryptocurrencies during the last two weeks. Just recently, Simmons sat down with Bitcoin.com’s podcast host, Dustin Plantholt and the two discussed a variety of subjects like the Ripple lawsuit, and why the rockstar thinks cryptocurrencies are worth owning.

Gene Simmons Talks Crypto In an Upcoming Bitcoin.com Podcast Exclusive

Gene Simmons is well known for his band Kiss, the rock band that was formed in 1973 by Simmons, Paul Stanley, Peter Criss, and Ace Frehley. Simmons is also known for being an entrepreneur over the years and just recently, news.Bitcoin.com reported on Simmon’s telling his Twitter followers about which cryptocurrencies he owned. Last week, the bass player told his fans he purchased BTC, ETH, LTC, DOGE, XRP, and other digital assets.

Rockstar legend Gene Simmons has been discussing cryptocurrencies regularly on social media and this week he chatted with Bitcoin.com Podcast host Dustin Plantholt.

This Saturday, Simmons joined Tesla founder Elon Musk and the hip hop artist Snoop Dogg, and started tweeting about dogecoin (DOGE). Additionally, this week the rockstar from Kiss got together with Bitcoin.com’s podcast host, Dustin Plantholt, for a podcast sponsored by exchange.Bitcoin.com. During the conversation, Simmons told Plantholt that unlike most of his peers, he was a bookworm and he read about economics at an early age.

“When I was a kid I started reading stuff, the kind of stuff that the other kids did not read,” the Kiss bassist said during the podcast. “So as you know reading is fundamental and the more information I got, the more questions I had. I learned about capitalism and how it works, how the government prints money. That it was once based on gold, and there lies the value, and then at some point in the past before most of you were born, the dollar was no longer based on gold,” Simmons added. The musician further added:

[The dollar] is based on nothing.

(Left) Bitcoin.com Podcast host Dustin Plantholt. (Right) Kiss bassist and co-lead singer Gene Simmons. Make sure you check out the podcast next week with Simmons as you don’t want to miss this episode.

“That’s ok if everything works,” Simmons insisted to Plantholt during the conversation. “Then the world continues to somehow base value on dollars. Even the terrorists want to get paid in dollars and not by local wombat coinage— I’m not the expert and I’m not directing [you] or suggesting that anyone get into cryptocurrency, I’m just telling you what I am doing. The more governments and that includes the United States government, continue to keep printing money which is based on nothing, at some point, you gotta pay the piper.”

‘Crypto Has Roots With the People’

Simmons said that he jumped into the crypto scene three months ago and that he studied Satoshi Nakamoto and the digital asset economy. When asked why it took him so long, Simmons explained that it takes some time for the older generations to get it sometimes, and oftentimes they never truly understand.

Tune in next week on Thursday, February 11, 2021, to listen to the rest of the exclusive Gene Simmons interview on the Bitcoin.com Podcast channel.

For instance, he recalled how older family members never understood how he made money, after she worked a 9 to 5 job day in and day out. Simmons explained that money is changing, similarly to how influencers like the Kardashians have changed the entertainment business.

“I did a little research about Satoshi and where he came from and what it was,” the Kiss frontman said. “It seems to me that the value of things is determined by people. The value of real estate is only based on what people say it is. The value of gold is only what people agree on what it is, and even Wall Street and stocks based [on people’s valuation], you can make your own valuation, but unless people buy the stock, it means nothing,” Simmons stressed.

The Kiss bassist said that “crypto seems to be a friendly neighbor to that, which is that it has much more roots in people.” Simmons also noted that a number of well known individuals have been interested in the crypto space as well. Simmons likes cryptocurrencies because of this attraction and swelling appeal.

“You have your cold wallets, ad infinitum, all this cryptocurrency language nonsense, that the rest of us don’t understand,” he explained during the interview. “But there’s a simple idea, and the simple idea is you’ve got a deck of cards, and cryptocurrency is one of those things. You can pick litecoin, bitcoin… whatever. How it started and what the intent was is not the issue for me. The issue for me and the appeal for me is that people like it. [Notable people] whether it’s Elon, or whether it’s Camron and Tyler, there’s lots of interesting people.”

‘The Buffet People Are Going to Change’

Moreover, Simmons said he had a conversation about bitcoin with Mark Cuban and that crypto deniers are changing or will change soon enough. “I had a discussion with Mark Cuban the other day and he commented on something about bitcoin,” Simmons detailed. “He is changing too, the Buffet people are going to change. You cannot avoid it, I know that Goldman [Sachs] folks are looking at this, institutional money, and Scaramucci is looking at it,” the musician added. Simmons further said:

I don’t believe for a second that most people understand what cryptocurrency is, what it is designed to do, but it is immediate and you don’t have to deal with banks— I like that.

That was only a few minutes of the discussion with Bitcoin.com’s podcast host Dustin Plantholt and Kiss’s Gene Simmons. The conversation delves further for another 25 minutes and during one point of the discussion, Simmons said he believes China is behind the recent Ripple lawsuit. The musician also discussed music piracy and what he thinks about that trend that has grown significantly during the last decade. At the end of the interview, he told people not to give up on money and that he was still into precious metals like gold and silver to this day.

The entire Bitcoin.com podcast with host Dustin Plantholt and special guest Gene Simmons will air on Thursday, February 11, 2021. The episode with the Kiss frontman is sponsored by the leading cryptocurrency trading platform Bitcoin.com Exchange. The platform offers a world-class trading engine, a large variety of crypto assets, and first-rate security that meets the needs of both crypto veterans and newcomers every day.

What do you think about the upcoming podcast with the rockstar legend Gene Simmons? Let us know what you think about this subject in the comments section below.

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Bitcoin.com Exchange, Bitcoin.com Podcast, dogecoin, Dustin Plantholt, Ethereum, Gene Simmons, gene simmons bitcoin, gene simmons bitcoin tweet, gene simmons btc, gene simmons crypto, gene simmons cryptocurrency, Kiss, Kiss Army, kiss bitcoin, litecoin, Rock Band, Rockstar, US Dollar, XRP

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter, Dustin Plantholt, Bitcoin.com Exchange, Bitcoin.com Podcast,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Spanish Court Orders the Investigation of Possible ‘Computer Fraud’ on Bittrex Exchange After a User Loses 1.3 BTC – Regulation Bitcoin News

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Terence Zimwara

A Spanish Court has issued an order compelling a division within the country’s police to investigate the possible existence of “computer fraud” on the Bittrex cryptocurrency platform. The order was issued following the filing of a complaint by a Tenerife based Bittrex user who claims to have lost 1.3 BTC (or $58,000) that was stored on the exchange platform.

Cybercriminals Blamed

According to a Spanish media report, the unnamed user’s problems started when initial attempts to access his funds were unsuccessful. However, after gaining access some 48 hours later, the user reports that “the money had literally disappeared.” The user contacted representatives of Bittrex who then “attributed the theft to the actions of cybercriminals.”

Meanwhile, in its February 9 order, the Spanish Court says it wants law enforcement to carry out “a line of technological research that allows the author (of the theft) to be identified.” The court also wants “the Bittrex insurance company” to be involved in the investigation as well as to provide the appropriate insurance policy.

Bittrex Allegedly Culpable

In the meantime, the report also quotes an unnamed “expert” who lists and explains the possible charges facing Bittrex as a result of the user’s loss. In laying the blame for the theft at the door of Bittrex, the expert said:

Bittrex allowed four access attempts before the theft, on May 26, 2020, from different IP addresses, with different locations and with different operating systems, all inconsistent with what was used by the user until that moment and Bittrex did nothing to prevent it.

According to the expert, these “events occurred on three different days from France, Granada, Madrid and a town in Minnesota, in the United States.”

Meanwhile, the expert also notes that the cybercriminal(s) had “allegedly used a different operating system from that of the owner of the account.” This according to the expert “should have raised a red security flag for Bittrex.”

What are your thoughts on this BTC theft incident? Tell us what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons





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Stone Ridge’s Open-End Mutual Fund to Invest in Bitcoin — SEC Filing Opens the Door for Other Mutual Funds to Add BTC – Regulation Bitcoin News

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Kevin Helms

Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,” said a fellow asset manager.

Stone Ridge Wants Its Mutual Fund to Invest in Bitcoin

Stone Ridge Trust filed Form N-1A with the U.S. Securities and Exchange Commission (SEC) last week. The filing, which is expected to become effective on April 26, relates to the Stone Ridge Diversified Alternatives Fund.

The fund “seeks to generate total returns from diverse investment strategies that we believe have the potential for attractive returns and are diversifying from stocks and bonds,” the filing details. “These strategies include reinsurance, market risk transfer, style premium investing, alternative lending, single-family real estate, healthcare royalties, and bitcoin.”

For the bitcoin investment strategy, the filing explains:

[The fund] seeks to generate returns by gaining exposure to the price of bitcoin by selling put options on bitcoin futures contracts. This strategy may also invest in pooled investment vehicles, such as registered or private funds, that themselves invest in bitcoin.

Anthony Scaramucci, founder of another asset management firm Skybridge Capital, which itself has about half a billion dollars worth of bitcoin in its bitcoin fund, commented on the filing last week. “Important development in bitcoin. Stone Ridge filed with the SEC to become the first open-ended mutual fund to buy bitcoin,” he wrote. Scaramucci also sees heavy demand for bitcoin from his clients and expects the BTC price to reach $100K by year-end.

Noting that “Stone Ridge will be able to start buying bitcoin on April 26 (when their prospectus goes effective),” he opined:

This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin (if they want to).

Stone Ridge founder Ross Stevens also founded the New York Digital Investment Group (NYDIG), a bitcoin-only financial services firm. Early this month, the firm filed for a bitcoin exchange-traded fund (ETF) with the SEC. Stevens recently said that he sees “a wall of money” coming into the asset class. NYDIG already has over $6 billion in bitcoin and the firm expects to have over $25 billion in the cryptocurrency by the end of the year.

What do you think about mutual funds investing in bitcoin? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’ – Economics Bitcoin News

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Jamie Redman

Recently, Messari Crypto Researcher, Mira Christanto published a report that looks into Asia’s cryptocurrency landscape in-depth, as 60% of the world’s population resides in the region. Christanto’s study shows that six out of the top ten largest cryptocurrency unicorns are located in Asia. Moreover, 98% of ethereum-based futures and 94% of bitcoin futures volumes stem from Asia.

Asia’s Financial Landscape Is Ripe for Disruption

When it comes to cryptocurrencies, Asia accounts for a huge number of crypto users, companies, miners, traders, and more. The cryptocurrency and blockchain researcher from messari.io, Mira Christanto, explains that Asia has a “history of dictators, currency depreciation, [and] capital controls – all ripe for disruption.” This has likely led to Asia being the most active cryptocurrency markets, according to Christanto’s recent findings.

Report: Asia's Cryptocurrency Landscape the Most Active, Most Populous Region 'Has an Outsize Role'

Her recently published study called “Asia’s Crypto Landscape” covers the “key exchanges, funds, and market makers that define crypto in China, Japan, Korea, Hong Kong, Singapore, and Southeast Asia, with commentary on regulatory and investment trends.” Countries like China, Japan, Hong Kong, India, South Korea, Singapore, Philippines, Thailand, Indonesia, Vietnam, Malaysia, and more are covered in the 98-page study.

“Leading crypto countries, such as China, Japan, Korea, Hong Kong, and Singapore, have deep pools of liquidity, while other countries have a great potential to scale,” Christanto’s report says. “The nature of traditional finance has played a key role in the adoption of crypto: capital controls pushed investors towards cryptocurrencies in China and South Korea while low-yields pushed adoption in Japan,” she added.

Report: Asia's Cryptocurrency Landscape the Most Active, Most Populous Region 'Has an Outsize Role'

“By the end of 2019, six of the top ten largest crypto firms in the world were located in Asia,” Christanto’s data further shows. “As of January 12, 2021, of the top 20 token projects with headquarters, 42% of the market capitalization is based in Asia. Asia has an outsize role in the crypto markets due to a variety of reasons.”

Christanto’s report continues:

Each country has its own nuances, but factors include high penetration of public market investing, high-technology pedigree, the prevalence of WiFi, deep penetration of e-payments, propensity for gambling, and high percentage of computer- science graduates. Furthermore, Asia’s development as a finance hub has helped contribute to fintech progress. Japan, Shanghai, and Hong Kong are among the top five largest stock markets in the world.

Asia’s Thriving Crypto Landscapes

A few key factoids from Christanto’s study show:

  • Binance, Huobi, and Okex combined have about the same bitcoin holdings as Coinbase.
  • Hong Kong is home to some of the largest crypto derivatives companies in the industry.
  • Japan is a unique market with the largest retail foreign exchange industry, representing a third of total global foreign exchange (FX) and Contract for Differences (CFD) retail volume.
  • South Korea has the highest penetration of crypto investors with a third of workers invested in crypto.
  • Singapore is one of the more lax Asian markets for crypto-specific regulations, though strict on AML, KYC, fit-and-proper controllers, and FATF Travel Rule compliance.
  • The Philippines has one of the largest overseas foreign workers populations in the world, ranking fourth in global remittance recipients.

Report: Asia's Cryptocurrency Landscape the Most Active, Most Populous Region 'Has an Outsize Role'

Asia’s Crypto Landscape findings also indicate that a great number of countries in Asia have thriving landscapes and all for different reasons. For instance, Vietnam’s capital controls “means the crypto spot market operates somewhat in isolation,” Christanto says. Vietnam’s market is retail driven, the report notes and “when bitcoin prices are volatile, the Vietnam market lags by a couple of days.”

In Malaysia Luno is the top exchange in the country as the firm founded in 2013 in Cape Town, South Africa is dominant there alongside Singapore. Christanto and messari.io’s research also saw help from the independent blockchain infrastructure platform Blockdaemon.

Mira Christanto’s messari.io research report on the Asian crypto landscape can be read in its entirety here.

What do you think about Christanto’s 98-page study covering the Asian crypto landscape? Let us know what you think about this subject in the comments section below.

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Asian Landscape, Bitcoin (BTC), China, Crypto Research, crypto-economics, Cryptocurrencies, Hong Kong, India, Indonesia, Japan, Malaysia, Market Shares, Messari Crypto Researcher, Messari.io, mining, Mira Christanto, Philippines, report, Singapore, South Korea, Southeast Asia, study, thailand, trading, unicorns, Vietnam

Image Credits: Shutterstock, Pixabay, Wiki Commons, Messari.io,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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