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Puff Bar Implements Vechain, ETH, and BCH

Puff Bar announced on Jan. 23 that it was implementing a variety of blockchain solutions in its business. The first of these implementations is with Vechain, which enables users to verify the authenticity of their Puff Bar products. The second of these is the integration of Ether and Bitcoin Cash as payment methods for Puff … Continued

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Puff Bar, one of the largest disposable vape companies in the US, announced the integration of cryptocurrencies into its product offering.

Puff Bar announced on Jan. 23 that it was implementing a variety of blockchain solutions in its business. The first of these implementations is with Vechain, which enables users to verify the authenticity of their Puff Bar products. The second of these is the integration of Ether and Bitcoin Cash as payment methods for Puff Bar’s vapes.

Guaranteeing Product Authenticity

As one of the leading disposable vaping companies in the industry, Puff Bar focuses on providing an extremely high quality product to its customers. As such, counterfeit and knockoff Puff Bar vapes are a huge problem. With this in mind, Puff Bar decided to fight back and protect its customers.

These counterfeits do more than compromise the brand’s integrity. They also endanger users’ health if the counterfeiting company includes harmful ingredients in the product. For these reasons, Puff Bar has partnered with Vechain to provide guaranteed authentication for every vape.

Users can scan a QR code on the Puff Bar package. Once scanned, the company’s VechainThor platform verifies product legitimacy. By using such a simple end-user solution, the company provides a high level of assurance to its customers.

More Payment Options Could Lead to More Customers

Puff Bar is also leveraging its payment methods to try to increase its appeal. The target users for vaporizers are younger than the traditional tobacco/smoking market. These users are adopting cryptocurrencies, so the company decided to accept ETH and BCH as payment methods. This payment method makes it easy for cryptocurrency owners to purchase directly.

Counterfeiting tobacco products is a world-wide problem. To fight this, enabling customers to verify the authenticity of each item is important. So is enabling payment variety. With these moves, this disposable vaping company may be raising the bar for all tobacco companies globally.

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Harrison is an analyst, reporter, and lead specialist at BeInCrypto based out of Tel Aviv, Israel. Harrison has been involved in the cryptocurrency space since late 2016 and is passionate about decentralized ledger technology and its potential.

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Source: https://beincrypto.com/puff-bar-implements-vechain-eth-and-bch/

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Analyst tells Tesla to dump Bitcoin for buybacks as shares plunge alongside MSTR’s

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A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares.

The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition.

MicroStrategy’s shares have fared even worse in the short term. The company, which is headed by Bitcoin bull Michael Saylor and just completed its latest acquisition of $15 million in BTC on Mar. 3, is now down 50% from its all-time high of $1,315 from Feb. 9.

Tesla’s share market woes are likely due to a number of factors. In early February, it was reported that Tesla had been reprimanded by the Chinese government over quality control issues after receiving consumer complaints. The broader stock market has also experienced volatility, with the S&P 500 down 4.1% in the last 30 days. 

But the tweet from longtime Tesla analyst Gary Black, who has several decades of financial management experience, sparked a debate on whether Tesla’s purchase of $1.5 billion in Bitcoin last month had benefited investors.

“I don’t want them buying back stock,” said Twitter user Techgnostik. “I want them investing in growth, and making another billion on their BTC position.”

Black countered by suggesting TSLA would also draw inclusion by more fund managers with a share buyback program, considering it of greater value to the investor than buying BTC “with excess cash.”

Some users on Twitter agreed that a stock buyback seemed to be a more appropriate use of funds, while others felt too much attention was being paid to what Tesla did with 8% of their cash reserves.

It’s not easy to ascertain the impact buying Bitcoin has had on a company’s bottom line. While MicroStrategy’s share price has halved in a month, shares of MSTR are still up 340%, (from $146.63 to $645.66), since the company announced its first purchase of 21,454 BTC on Aug. 11, 2020. The price of BTC is currently up 310% from the same date.

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Source: https://cointelegraph.com/news/analyst-tells-tesla-to-dump-bitcoin-for-buybacks-as-shares-plunge-alongside-mstr-s

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Experts divided on BTC predictions: Bullish or super bullish?

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Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.

On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.

McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level as last year’s Black Thursday collapse. The discount refers to when shares in the Grayscale Bitcoin Trust trade for less than the value of the underlying Bitcoin (normally they trade at a premium).

Looking at historical data, said that

Twitter user “Lee Hendricks” wasn’t convinced, suggesting the catalyst for Grayscale’s discount could be the result of pressure from upcoming ETFs and other crypto funds. (Although that’s arguably bullish too.)

The Bloomberg strategist isn’t the only expert with high expectations for BTC, with influencer and YouTuber Lark Davis stating on Mar. 4 that “we are just now past the first major price wave,” with two more, larger waves to come.

On March 2, technical analyst Kaleo posted a chart predicting BTC will hit $100,000 near the start of April this year.

It’s a follow-up on his “Bitcoin Halving Reward Era Price” analysis chart two years ago predicting the price would reach $200,000 around mid-2021. He tweeted two weeks ago that he still has faith in it:

“It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin… $BTC will hit $200K+ this cycle.”

Another analyst who goes by the Twitter name MasterChangz, told his 10,000 followers he believes Bitcoin will hit the $200,000 mark even earlier than mid-2021, potentially at the start of April. The next rise, he said, is to $77,000 over the next two weeks.

Other predictions are even bolder with Kraken CEO Jesse Powell stating the cryptocurrency could reach $1 million or even “infinity” in a Bloomberg television interview on Mar. 4, adding that it will eventually become the world’s currency.

“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity,” he said. “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency.”

Kraken Head of Growth Dan Held, echoed this prediction on Mar. 5, claiming on Twitter that:

“Bitcoin is more likely to hit $1,000,000 than $0.”

Even past Bitcoin skeptics are becoming crypto converts with investment firm Sanders Morris Harris CEO George Ball admitting to Yahoo Finance on Mar. 4 that he believes cryptocurrencies are now “attractive” as a “small part” of any portfolio.

“With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a part, a small part, of almost any portfolio,” Ball said.

Despite this wave of optimism, history also suggests March could be a bloody month, with Bitcoin’s price falling across the month in six of the past nine years by an average of 5.8%. The most recent of these occurred last year on Black Thursday when the price plunged by 50%. That said, the second-biggest monthly candle in BTC history happened in March 2013, when the price shot up 179%.

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Source: https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish

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Mark Cuban invests undisclosed sum in NFT platform Mintable

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Billionaire investor and owner of the Dallas Mavericks, Mark Cuban puts his money where his mouth is and invests in Mintable, an NFT platform.

The firm tweeted that they were proud to be a Mark Cuban company and also took the opportunity to recruit staff in what is presumably a direct result of Cuban’s investment and surging demand for NFTs.

Mark Cuban on blockchain and NFTs

Cuban has invested in hundreds of companies over the years. What’s more, his eye for spotting trends has earned him a reputation for being a shrewd businessman.

Although Cuban has only warmed to Bitcoin recently, he has always been a big fan of Ethereum. In a recent Defiant podcast, Cuban said smart contracts are why he favors Ethereum over Bitcoin. He said, with them, the scope for innovation is endless, leading to what he calls “friction-free banking.”

“ETH Has an Advantage Over BTC as a Store of Value.”

When it comes to NFTs, Cuban thinks they’ll be a game-changer and even overtake the physical collectibles market at some point.

Speaking to CNBC, he said if he were to start a business today, it would be something to do with blockchain, smart contracts, and NFTs. This area he likens to the opportunities available during the early days of the internet.

“This is like the early internet days all over again. I think [NFTs and blockchain tech is] going to be huge.”

NFTs continue to divide opinion, but there’s no doubt in his mind that they will explode (even more) in popularity.

This, he puts this down to the zoomers, or Gen Z, which denotes those born between 1997 and early 2010s. Zoomers grew up with smartphones and the internet, and according to Cuban, they consider digital just as real as physical.

Mintable Riding High

Mintable describes itself as the next-gen NFT marketplace. Its platform allows users to create ETH contracts for minting ERC-721 tokens, also known as non-fungible tokens. But, their process requires no coding or technical know-how.

Add to that the option of “gasless minting,” which, as the name suggests, is a fee-free process of minting NFTs, and there’s no excuse for not creating your own digital art.

At this time, Mintable has not revealed details of Cuban’s investment. But they say more information on that will come in the following weeks.

We will be announcing more about our seed round in the coming weeks, but we are looking forward to a very great year of 2021 for #NFTs and Mintable!”

If you remain unconvinced about NFTs, one thing’s for sure, Cuban has a track record in being right more often than not.

Posted In: NFTs, People

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Source: https://cryptoslate.com/mark-cuban-invests-undisclosed-sum-in-nft-platform-mintable/

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