Bobby Lee’s New Venture Ballet is a Hardware Wallet for the Masses

  • Bobby Lee announced the launch of Ballet, a crypto hardware "for everyone."
  • Wallet includes a physical card with previously generated addresses and private keys that users access through an app.

Bobby Lee, co-founder and former CEO of one of China's first cryptocurrency exchanges Bitcoin China (BTCC), has shed light on his next venture: a hardware wallet called Ballet. 

Hardware Wallet for Everyone

According to the announcement made at CoinDesk’s Invest: Asia event held in Singapore on Sept. 12, Lee is launching a crypto hardware wallet designed for the general public.

The project, titled Ballet, plans to differentiate itself from the existing market by prioritizing simplicity and a user-friendly product. In particular, Ballet will generate public addresses and private keys for users in an advance. 

Lee explained that bypassing the initial complexity of generating keys allows for crypto newcomers to engage with the wallet out of the box. 

He said, 

We wanted to create a wallet that is simple and elegant. And that is what we’ve done.

Lee told audience members that he has been hard at work on the project for the last nine months,

I’ve been working on this hard since January of this year. We’ve gone through six iterations of this hardware wallet design.

Ballet, running under the tagline “A Wallet for Everyone!,” will utilize a metal card to deliver the wallet address and encryption key to users. 

The card contains a printed QR code, an encryption code and another concealed identifier that must be scratched off for users to activate the wallet. Using the iOS and Android App, which launched on Sept. 12, users can scan the QR code and enter the two encryption keys in order to gain access to their private key and wallet, which has all been pre-generated. 

The application currently supports bitcoin, litecoin, XRP, ether and several ERC-20 based tokens.

Featured Image Credit: Photo via Pixabay

Bitcoin Whale Reportedly Risks 800 BTC for $0.01 Payout in Dogecoin

A bitcoin whale has supposedly risked a total of 800 BTC, worth around $5.8 million, to help the cryptocurrency remain at the $7,200 mark in a bid to win a bet he made on social media.

A Twitter exchange between Dogecoin supporter Samu and bitcoin whale Joe007 shows that both agreed to bet on bitcoin’s future price, with Samu agreeing to pay 5 million DOGE (around $11,000) to the whale if BTC traded above $7,100, and the whale agreeing to pay Samu the same amount if it was below $7,100 at 13:00 UTC on December 12.

The BTC whale ended up winning the bet as the price of the flagship cryptocurrency didn’t drop below the agreed-upon mark. Some of those watching the thread, however, noted that something seemed to be going on before the bet’s deadline expired.

The bet was made according to the price of the Bitfinex cryptocurrency exchange, and a trader soon alleged on social media the BTC whale could’ve placed an 800 bitcoin order to “defend” the $7,200 so the cryptocurrency’s price wouldn’t dip.

While it isn’t possible to tell whether Joe007 was the one behind the 800 BTC order, the whale seemed to warn Samu before the bet was made that he was extremely confident he was going to win, tweeting out “you really don’t want to make this bet, believe me…”

After the deadline the posts suggesting market manipulation came out so Samu said he “got revenge” on the bitcoin whale cheating, by offering to pay him only 6 DOGE, currently worth about $0.013.

The Dogecoin addresses Joe007 showed as the destination for the funds currently has little over 10,000 DOGE in it, worth close to $22. Some argued Samu should have paid the funds as no terms were defined in the bet, while others agreed with him.

Featured image via Unsplash.