Merge commit '07cd336101' into chuckwilliams37/master

* commit '07cd336101':
  2 more News Posts
  New Merchants
  Fix
  News posts
  not my file tbh (i think this comes from andy's side)
  News Bloomberg
  edit
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Chuck Williams 2017-03-14 01:41:48 -06:00
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---
author: tungfa
layout: post
image: "BitcoinETF.jpg"
title: "Following Bitcoin ETF Rejection Dash and Ethereum Set New Records"
---
After the US Securities and Exchange Commission (SEC) rejected the Winklevoss twins Bitcoin ETF application late on Friday, cryptocurrencies reacted paradoxically with an impressive show of strength.
Despite initial jitters sending it sharply down immediately after the SEC announcement, the price of bitcoin has completely rebounded from the negative news by now, with the price back above $1200. However, the real winners from the move were top alternative cryptocurrencies that greatly benefited from the unleashing of suppressed demand.
![Alt desc](/assets/img/etf1.jpg)
The smart contracts and decentralized apps blockchain, Ethereum, is now traded for around $27. This is an impressive price record for ETH, which completed a rise of about 40% in just one week. In total, the market capitalization of all Ethereum tokens in circulation is worth $2.44 billion.
Privacy-focused cryptocurrency Dash also saw an amazing rise with its price now reaching above $75 a jump of 66% in a week. The total market cap of the Dash blockchain is now above half a billion dollars ($540 million).
![Alt desc](/assets/img/etf2.jpg)
Ethereum and Dash, the number two and number three biggest cryptocurrencies respectively, got a positive publicity boost from the bitcoin ETF drama, as mainstream financial publications covered how new traders who find the number one coin too expensive to enter the market with turned to them for crypto exposure.
Another altcoin whose holders can be quite happy today is Monero. The XMR/USD exchange rate now stands above $17 after rising almost 13% in the last twenty four hours and is back again among the top four blockchain assets by total value, with a $245 million market cap.
![Alt desc](/assets/img/etf3.jpg)
<http://www.financemagnates.com/cryptocurrency/trading/following-bitcoin-etf-rejection-dash-ethereum-set-new-records/>

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---
author: tungfa
layout: post
image: "2017-03-14-CTBudget.jpg"
title: "Dash Surges to Record High, Claims $0.5 Mln Monthly Development Budget"
---
[Dash price](https://cointelegraph.com/explained/dash-price-rise-explained) and volume have surged to all-time highs, bringing what is likely to be the largest development budget in the cryptocurrency field.
This year has seen a [meteoric rise](http://coinmarketcap.com/currencies/dash/) in Dashs market cap. So far, it has increased from about $80 mln in January to over $560 mln at the time of writing amounting to a sevenfold increase. This month alone it has more than [doubled in value](https://cointelegraph.com/news/dashs-break-to-4-crypto-position-explained-by-its-cashing-in-on-bitcoins-consumer-problems).
According to community member Tao of Satoshi, who runs the Dash Nation Slack channel and hosts the YouTube show Cash Alternative TV, Dashs recent growth spurt is hardly surprising:
“This price rise is not shocking at all to anyone who has followed the project from the start. Evan Duffield and his team have been systematically solving all of the problems facing Bitcoin, privacy, transaction speed and governance. Now, thanks to an energized community (or Dash Nation, as I like to call it), the word is spreading. People who may have been interested in Dash from afar are now considering it seriously as Bitcoin's situation continues to degrade. You are seeing Dash become a legitimate competitor to Bitcoin and fiat money, so in my opinion, this is only the beginning of sustained Dash growth.”
Dashs built-in treasury allows for an ever-growing development budget
In contrast with Bitcoins model, where miners receive the entire block reward of newly created coins, with Dash [with Dash 45 percent goes to miners](https://cointelegraph.com/news/wall-of-coins-integrates-dash-as-it-surges-to-number-3-cryptocurrency-all-time-highs), 45 percent to master node stakeholders and 10 percent is set aside as a treasury for development and other community projects, as voted on by the master nodes.
According to Amanda B. Johnson, host of YouTube show Dash detailed, as well as one an employee of [Dashs DAO](https://cointelegraph.com/news/pr-decentralized-how-dash-succeeded-in-dao-powered-public-outreach) paid by the treasury, the treasury system allows for the coin to capitalize on price increases to ensure its value grows even further:
“When Evan Duffield divided up the block reward for Dash -- making a sort of "treasury" available for development costs -- he was guaranteeing that the people working on Dash would be directly affected by the coin's value. Our feedback loop has begun, where the better our developers do, the more their monthly Dash payments are worth. We can also better afford to hire as many of them as we need to scale.”
Dashs available monthly [budget for February](https://www.dash.org/forum/threads/february-2017-budget-report.12904/), including core team budget and various community projects approved by the DAO, amounted to approximately 7,450 Dash.
At the present value of about $77 per coin, that budget amounts to about $574,000 per month. If Dash increases in value, this monthly budget could grow even higher.
At these rates, Johnson sees [Dashs ecosystem growing](https://cointelegraph.com/news/epic-battle-of-dash-vs-ethereum-classic-not-over-yet-charles-hoskinson) at an increasingly rapid rate:
“We can afford more and better of what we already have -- that is, Evolution and dashd developers; grassroots-level marketers; conference attendance and sponsorship; people testing on testnet; legal research; and an unlimited number of other tasks I personally can't think of -- and surely someone else will.”
2017s reshuffle of the cryptocurrency rankings
This year has seen a [reordering of the top cryptocurrencies](http://coinmarketcap.com/) as other coins vie for a shot at besting Bitcoin. Dash and Monero have pushed ahead of [Ethereum classic, Litecoin and Ripple](https://cointelegraph.com/news/dash-passes-litecoin-and-monero-to-claim-number-4-cryptocurrency-status), joining Ethereum as the top three coins making significant inroads towards Bitcoin.
Those three combined are approaching 20 percent of Bitcoins total value, with Ethereum the clear leader with over 13 percent. Bitcoin remains the vast majority of cryptocurrencys value at present, however, that total percentage has now dropped below 80 percent.
By the end of the year, the cryptocurrency landscape could look radically different. Robert Genito, project lead for Wall of Coins, believes that Dash will end up at the head of the cryptocurrency pack:
“Technology moves quickly, obviously and so do cryptocurrencies, perhaps even faster. However, a market of people and their decisions can move even faster, and I truly believe that by the end of this year Dash will overcome Bitcoin entirely.”
<https://cointelegraph.com/news/dash-surges-to-record-high-claims-05-mln-monthly-development-budget>

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