Shapeshift Launches Decentralized Portfolio Platform Prism

portfolioToday at the Consensus Conference in New York City the Shapeshift founder and CEO Erik Voorhees has announced the launch of Prism, a “trustless asset portfolio platform”. The Swiss blockchain technology company says investors of all types looking to build a portfolio can do so using the decentralized digital asset holding application. Also read: The Case for

The post Shapeshift Launches Decentralized Portfolio Platform Prism appeared first on Bitcoin News.

portfolio

Today at the Consensus Conference in New York City the Shapeshift founder and CEO Erik Voorhees has announced the launch of Prism, a “trustless asset portfolio platform”. The Swiss blockchain technology company says investors of all types looking to build a portfolio can do so using the decentralized digital asset holding application.

Also read: The Case for Using mBTC Over BTC Denominations

Shapeshift Launches Prism – the Decentralized Digital Asset Portfolio Without Third Party Risk

Shapeshift Launches Prism the Decentralized Portfolio PlatformLaunched today, the Prism platform provides users with the ability to secure a basket of cryptocurrencies without exposure to third party risk. The platform is built using Ethereum-based smart contracts that enable investors to construct a crypto-portfolio with a broad range of cryptocurrencies to choose from including Bitcoin, Litecoin, Monero, and Ripple.

Shapeshift says bitcoin and altcoins as an alternative investment have grown exponentially over the past two years, as the combined market cap has expanded over 200% in the past year to over $40 billion, explains the company. Prism will forward the cryptocurrency fever by offering the first live platform in a trustless environment dedicated to the users’ crypto-asset portfolio.

“Prism enables investors to gain secure, transparent exposure to digital assets in a way that has never before been possible. The days of leaving funds at an exchange ‘because it’s easier’ are over,” Erik Voorhees, CEO of ShapeShift detailed during the announcement.

Prism’s digital asset portfolios, built entirely on non-custodial smart-contracts, demonstrates a new standard in financial security.         

A Diversified Crypto-Portfolio That Competes With Other Prism Investors

The company says that it has used its proven model from the Shapeshift design to build Prism. The new platform is a “diversified crypto-portfolio that was distilled down into a simple interface: buy, rebalance, and settle, all of which the user can execute with nothing more than their Ethereum wallet,” explains the Swiss startup.

Shapeshift Launches Prism the Decentralized Portfolio Platform

Moreover once a Prism portfolio has been created it is positioned on a leaderboard competing with other Prism users based on investment performance. Furthermore, users can learn from top traders and copy their portfolio choices as well by visiting the public Prism performance leaderboards.

Prism Aims to Open a Whole New World of Borderless Finance

After creating a name for a personal Prism portfolio, users choose from a wide range of digital assets and determine how to split their investments. The investor then provides an Ethereum address that enables them to fund and track their Prism assets. The address gives Prism users proprietary control over their funds and the ability to track the investment vehicle via the Ethereum network. Shapeshift says the following ether wallets have been tested and vetted for use on the Prism platform Exodus.ioJaxx.io and Myetherwallet

If an investor wants to close out their Prism account, they are asked to send a zero ETH transaction to a provided Ethereum address that will signal the smart contract to close the portfolio. If the Prism’s components went up 20%, the investor will receive 20% more Ether back than they put in, minus displayed fees.

Prism takes us one step closer to a world of truly borderless finance. We suspect it will kickstart a vast horizon of financial experimentation upon smart contracts,” concluded Voorhees.

What do you think about the Shapeshift’s new portfolio platform? Let us know in the comments below.  


Images via Shutterstock, Shapeshift, and Prism websites.  


Bitcoin.com’s own store features a wide range of interesting Bitcoin-related products. Looking for a hardware wallet? We got ‘em. Want a good-looking t-shirt? It’s there. Want to gift a nice Bitcoin tea cup? Go shopping.

The post Shapeshift Launches Decentralized Portfolio Platform Prism appeared first on Bitcoin News.

Why Michigan’s Oldest Lawn & Power Sports Stores Goes Bitcoin

Power SportsAs bitcoin grows in value, more merchants every day are accepting the digital currency to stay ahead of the times. This week one of Michigan’s largest and oldest lawn equipment and power sports stores — Ball Equipment is now accepting bitcoin. Also read: Petition Asks SEC to Clarify Rules on Bitcoin and Digital Token Assets   

The post Why Michigan’s Oldest Lawn & Power Sports Stores Goes Bitcoin appeared first on Bitcoin News.

Power Sports

As bitcoin grows in value, more merchants every day are accepting the digital currency to stay ahead of the times. This week one of Michigan’s largest and oldest lawn equipment and power sports stores — Ball Equipment is now accepting bitcoin.

Also read: Petition Asks SEC to Clarify Rules on Bitcoin and Digital Token Assets   

73 Year Old Business Thinks Outside the Box

Michigan's Oldest Lawn & Power Sports Store Goes BitcoinThe fourth generation family owned superstore, Ball Equipment, is one of Eastern Michigan’s largest and oldest outdoor power equipment dealerships operating for over 73 years. The store has two locations that sell heavy duty lawn equipment and power sports gear from brands like Polaris, Honda, Can-Am, Cub Cadet, and Husqvarna. This week the business decided to accept bitcoin allowing any of their customers to purchase rideable lawnmowers, ATVs, snowmobiles, dirt bikes and more.

Bitcoin.com talked to Chris Ball, one of the owners of the Michigan state superstores to see why the business decided to start accepting bitcoin. Mr. Ball says that even though they are an old and well-established company the team has always had the corporate philosophy of “getting ourselves outside the ‘we have always done it this way’ box.”

“The quickly evolving world of cryptocurrencies and the media attention it has received is something that attracted our interest. Even before fully understanding it, we knew it was something we should work towards adopting immediately,” explains Mr. Ball.

Bitcoin: ‘Very Appealing from a Profitability Standpoint’

Mr. Ball tells us there are other reasons why the company decided to accept the digital currency.

“For instance, many of the larger ticket items Ball Equipment sells like the ATV’s, and Motorcycles, are typically very low margin products to retail to consumers,” the Ball Equipment executive details.

The transaction fees and potential fraud that exists with traditional payment methods when compared to the ease of secure low-cost payments on high-value transactions made bitcoin very appealing from a profitability standpoint.

“In addition, becoming an early adopter in our very ’old school’ industry gives us the potential to do business on a local and even national level that we would otherwise not have the opportunity. Considering we have found very few of our competitors anywhere accepting bitcoin currently, we do not see much if any downside other than accepting the risk of short term bitcoin value fluctuations.”

A New Customer Base, and Being Prepared for the Future

Michigan's Oldest Lawn & Power Sports Store Goes BitcoinAs of today, Mr. Ball says customers can stop in one of the Ball Equipment showrooms or visit the website, browse the selection of vehicles and products, and then fill out a request quote form to let the company know you are interested in a purchase with bitcoin as a payment method.

“A member of our sales team will follow up to provide a quote and once a final decision is made an invoice will be provided with a QR code from our wallet to send coins for payment,” Mr. Ball explains.

As Bitcoin.com explained last week, as the digital currency continues to see more popularity the trend also follows with people purchasing luxury goods, real estate, and high ticket items. Merchants like Ball Equipment are starting to see the value in opening up sales to a new customer base, a currency that appeals to profitability and allowing their business model to stay on course with the future of payments.

Do you think merchant acceptance is growing as bitcoin becomes more valuable? Let us know your thoughts in the comments below. 


Images via Shutterstock, Can-Am, and the Ball Equipment website. 


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into price statistics or our helpful tools page.

The post Why Michigan’s Oldest Lawn & Power Sports Stores Goes Bitcoin appeared first on Bitcoin News.

Bitcoin Pizza Day: Reliving the Memories and Forging New Ones

PizzaToday cryptocurrency enthusiasts around the world are celebrating the notorious “Bitcoin Pizza Day” where two Papa John’s pizzas were purchased for 10,000 BTC. Not only is the transaction deemed the first bitcoin exchange for real-world value, the trade is now appraised at US$20 million at today’s exchange rates. Also read: Asset Managers Recommend Bitcoin to Hedge

The post Bitcoin Pizza Day: Reliving the Memories and Forging New Ones appeared first on Bitcoin News.

Pizza

Today cryptocurrency enthusiasts around the world are celebrating the notorious “Bitcoin Pizza Day” where two Papa John’s pizzas were purchased for 10,000 BTC. Not only is the transaction deemed the first bitcoin exchange for real-world value, the trade is now appraised at US$20 million at today’s exchange rates.

Also read: Asset Managers Recommend Bitcoin to Hedge Against US Stock Market Risks

‘I Like Having Leftover Pizza to Nibble On Later’

Bitcoin Pizza Day: Reliving the Memories and Forging New Ones The Bitcoin network had been in operation for a little more than a year on May 22nd, 2010 when a developer named Laszlo Hanyecz purchased two pizzas using the forum Bitcointalk.org. The trade Hanyecz made that day is widely celebrated every year by bitcoiners as it is considered the first real-world transaction using bitcoin as a medium of exchange.

“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe two large ones, so I have some leftover for the next day — I like having leftover pizza to nibble on later,” explained Hanyecz.

You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!

It Took Two Days for Someone to Accept the 10,000 BTC for Pizza Offer

After Hanyecz had published his post, a few bitcoin enthusiasts talked about making the trade with him. A couple of people contemplated a few ways they could get the pizza to Hanyecz who was living in Florida at the time. A whole day passed, and Hanyecz writes “So nobody wants to buy me a pizza? — Is the bitcoin amount I’m offering too low?”

I just think it would be interesting if I could say that I paid for a pizza in bitcoins    

Another 24 hours later Hanyecz announces that a successful transaction was made thanks to a user named “Jercos.” “I just want to report that I successfully traded 10,000 bitcoins for pizza,” the developer tells people on the thread. A few commenters thought it was great the exchange happened and congratulated Hanyecz that day. The 73-page thread discussion has been kept alive for years, with people commenting on how expensive the pizzas became as time had passed.

‘It Wasn’t Like Bitcoins Had Value Back Then’

Bitcoin Pizza Day: Reliving the Memories and Forging New Ones Years later the transaction is considered one of the greatest moments in Bitcoin history and the two pizzas purchased for $25 USD is now worth over $20 million. Hanyecz did an interview with the New York Times a few years later reminiscing about the infamous day.     

“It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz told the publication.

Today as bitcoiners celebrate Bitcoin Pizza Day they’ll always wonder how those pizza’s tasted and whether or not Hanyecz really doesn’t regret eating the most expensive pizzas sold on the planet. As long as the pizza didn’t have weird toppings like fish, Hanyecz was pleased with his decision to offer 10,000 BTC for two pies.

“I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire,” Hanyecz said at the time.

Celebrating This Year’s Festivities

There will be a lot of people enjoying Bitcoin Pizza Day in 2017 as the decentralized currency is more popular than ever before. There are businesses such as the Bitcoin Store featuring specialty pizza-themed goods, and some merchants are offering discounts like the artist Satoshi Gallery.

Additionally, the German-based bitcoin banking startup Bitwala recently started a campaign so the cryptocurrency community can donate pizza slices using bitcoin to refugee kids in Berlin. All the proceeds will go to Champions Ohne Grenzen, a Berlin-based NGO that works with children. Every week they hold football training sessions with qualified coaches to empower kids and help them overcome trauma. People from all around the world sent in their donations and the money received will help provide more than 100 slices to the refugee children.

“The fact that someone halfway around the world can have pizza delivered to war fleeing refugees without having to enter credit card info is a great and humane way to explain the power of bitcoin,” explained Bitwala’s CEO Jörg von Minckwitz.

What do you think about the two pizzas sold for 10,000 BTC? Would you have regretted this decision now? Let us know what you think in the comments below.


Images via Pixabay, Bitcoin.com, and Twitter. 


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. 

The post Bitcoin Pizza Day: Reliving the Memories and Forging New Ones appeared first on Bitcoin News.