The Gemini exchange which is based out of the New York’s Flatiron District launched the very first within the Bitcoin ecosystem I which is called the “daily Bitcoin auctions.” The very first official auction on the Gemini happens to be on the last 21st of September with the same year of the 2016 at 4:00 PM in the Eastern Time. The auctions will occur every day in including the weekends and the holidays at 4:00 PM Eastern Time.The Gemini Chief Executive Officer, Tyler Winklevoss has said on one of his interview in Bloomberg during the launch that, “We believed that this is the very first-ever end-of-day Bitcoin exchange auction. The auctions create a greater price discovery and also liquidity in resulting in a very meaningful final auction price. And if you are building a securities exchange today, an auction would be a greater central core feature in it.”All of the verified Gemini customers can enter and participate in the Auction-Only Market and Auction-Only Limit Orders but to purchase or even to sell starts at 5:00 PM Eastern Time onto the prior day until the 4:00 PM Eastern Time for that is the day’s auction. Just for an example, for the Wednesday’s auction, you can place your orders between Tuesday at 5:00 PM Eastern Time and of the Wednesday at 4:00 PM Eastern Time. The other currency pairing auctions are being expected to start in the weeks to come.The question is why the auctions? The auctions are a new to the world of the Bitcoin but are universally implemented yet also employed by the traditional asset exchanges similarly to the New York Stock Exchange, the Nasdaq and the Bats. The Gemini’s auction features targets an aim to facilitate high quantity of trading by finding the perfect price in which is the greatest aggregate purchase demand trend and the aggregate sell demand trend can be also fulfilled as much as possible. Dues to the reason that this occurs and happens at a single final auction price neither the party has to pay to cross the bid-ask spread.There are numerous of market advantages to creating a feature like this and the very first and foremost is an ability and also capability to lessen the cost of acquiring the Bitcoin. The Bats CEO, Chris Concannon, mentioned to the Bloomberg via e-mail a statement regarding this new sensation created and established by the Winklevoss Gemini that, “ We view the launch of an end-of-day auction as a noteworthy step forward for the Gemini and also for the Bitcoin industry.”Regarding of the any risk that may happen in the daily auction? The level price constancy is being gained at the moment you execute a large trade size, in which is similar to the over-the-counter or OTC trading volumes on the exchanges without having to worry or any to think about the price slippage. And this is a certain critical benefit for the customers being concerned with the exchange liquidity. The auction trades are being executed on the Gemini platform and making for a much more seamless operation, dissimilarly to the over-the-counter trades that can require phone calls, emails, specialized paper works, the risks taking place upon the funds transfer and etc and instances of the counterparty risk are also being removed. As the auction trades are being settled instantaneously from the pre-funded accounts and they are ready for the right away transfer and eliminating the risk of a trade not settling, unlikely the OTC trades that settles at several later moment.
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Steemit’s First Ever Public Event in EuropeWriters, chefs, the Bitcoin nerds, car fanatics are all going to the Steemit’s very first ever public event in Europe! Steemit is taking its very first public event to the platform’s European enthusiasts as a three-day conference and gathering that has been slated to be held in Amsterdam Netherlands in the 11th to 13th of this coming November in the same year of 2016.All though it is supported by the one of the most popular social media platform where the users get rewarded to post and to vote online, the SteemFest is arranged by a Steem developer and entrepreneur who had built the apps of the SteemyOrNot and the RadioSteem. Roeland Landegent mentioned that this certain event’s idea came to be after he shared it with and was accepted by the CEO Ned Scott to make it happen all the way. Then he later reached out to an initial group of the early Steem users and the “Steemcelebs” and also the other “Steemians” whom he got to know in the past few months to gather and collect their interest. As Roeland Landegent mentioned on one of his interviews, “Since I registered on the 7th of July on the Steemit, 3 days after the payouts has started, and I instantly became a huge fan after discovering it. I must really admit that at first I was a little wary but soon I was hooked into it, like I just can’t get enough. It is about months ago, when I was doing the dishes and thinking about the Steemit, and it literally popped up to me for the very first time, the how cool would it be to have a global get together where the Steemians from all over the whole wide world can meet and greet each other.”The competition as an engine for the social media, Steemit and as well as the other platforms such as the Diaspora* and the AKASHA and also the Synereo, had represent a few decentralized social media initiatives that are introducing the true competition as an engine for enhancement in the social media market. Their focal point on the freedom of the speech, is the elimination of the advertising from the social media and the rewarding of the users who have created a highly-quality of content or a act as the curators and these are some of the issues and cases that are being raised and tackle against the top centralized social media platform such as the Facebook and especially all across the Europe. In supplementary with the statement above, Roeland Landegent further explain that, “I remembered the early days when the Twitter was gaining a little of traction in the midst of the early adopters in the Netherlands, and I started following a group of the Dutch twitter users. And I was only after for 3 to 4 months in the group got together in the real-time of life and it was my very first meetup it was so weird and so much fun at exact same time. You talked to the people for the very first time whom you had learned to know already all the way through their tweets for only 3 months in a row. Several of those people I met 7 years ago still reckon to be a great friends and also acquaintances and from that very meeting much later on even the babies were born!”The real deal was who are the Steemit enthusiasts in Europe? Roeland Landegent replies, “I do not really think that there is a generics profile for the Steemit European enthusiast specific off for that certain matter for the Steem users all across the globe. I really think that it is the beauty of the Steem. In my very own opinion it is a totally different Blockchain. Of course you have the crypto-enthusiasts, the traders, the Blockchain nerds and the libertarians. But on the Steem you share the Blockchain with the writers, developers, photographers, journalists, travelers, musicians, chefs, car fanatics, animal lovers, and so on and so port. All of the writings is all about the passion. Currently, the SteemFest’s tickets are not yet on sale but so far I can already tell every single person that the event will be attended from the people all over the world, from India, Indonesia, Japan, Thailand, China, Nigeria, South Africa, United States of America, Canada and then also coming from the great bunch of European countries.”
The life in jolly ‘ole England has been quite unstable and tumultuous over the past year and culminating with the epic Brexit vote just this summer was eventually changing the way that the nation will do business from now and forever. This seems to be the only first steps into the ways of their upgrades for the upcoming future business schemes and programs as the Bank of England has decided to refurbish their financial services settlement system to include such innovation like the Bitcoin’s Blockchain technology.The Bank of England wanted to be more broad and comprehensive and yet more compatible. The Bank of England has scheduled a spruce up of their RTGS in which stands for the Real-time Gross Settlement system. The RTGS is a payment that provides the platform for the central bank reserves in sterling or even the electronic counterpart to the banknotes as the risk-free method of the final payment settlements. On an average day, the RTGS settles for over and around of £500 billion between the banks or almost a third of the United Kingdom’s annual GDP. The system is fundamental to the economic constancy and the future of the Great Britain and also the bank has been looking for counsel on the future revisions all the way throughout the year of the 2016. And speaking with the two dozen users of its RTGS system they would like to view the revisions that which would make expanding the network to include the smaller clients as much as easier. The other benefits in which may include the increased of the security and the compatibility with the other financial systems in which are also turning over the distributed ledger systems.The Bank of England mentioned something regarding the Blockchain technology that, The new RTGS service must be proficient of interfacing with the range of the new technologies that are being used into the private sector in including the distributed ledgers and if when they attain the critical mass.” While potentially accumulating the Blockchain technology the capability to the RTGS appears to be the reason for these systematic revisions and distributed ledgers are not expected to become the central core of the system as it is with the Bitcoin just for an example. The resilience distinctiveness of the distributed ledger in particularly is the potentially highly attractive from a financial constancy perspective. It is conversely dissimilarly that this technology will prove sufficiently mature to mold the central core of the next generation of the RTGS.There are also been talks of the Bank of England on offering its very own digital currency with the reports of an RSCoin in the earlier of this year. In their full 58-page of consultation paper on the subject of this certain operational reorganization, they address the potential of a new digital currency. And their statement makes it loud and crystal clear that this is on the table, so to utter something like this, but the several of the research in which is pertaining onto the idea needs to be done. The Bank of England has a research and study agenda onto the digital currencies established for the coming years. The research and study will analyze the economic and the financial constancy impact of a potential central bank digital currency in including on how it could interact with the monetary and the financial constancy and also with the fiscal policy. The research and study agenda also includes on how the central bank digital currency could be technically implemented. And the very next year, they expect to create and establish an official timetable for the future changes.