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What appeared to be signs of a rebound over the past day have been quashed this morning when news broke that Koreas second largest exchange Bithumb had been hacked. Markets tumbled once again, with almost $10 billion being wiped out in half an hour. The fall as usual was led by Bitcoin which dropped $150 and settled at just over $6,600, down 1.6% on the day. Ethereum remained relatively stable and is trading at the same level as yesterday, $520. Altcoins as usual all got battered and a sea of red has now replaced the green that was there a few hours ago. Most are down 3-4% and only a couple or minor tokens are not feeling the selling pressure at the moment.
Those taking the biggest hits in the top 25 include Iota losing 4%, Dash down 5%, Monero shaving 4% off its price, Qtum losing 4.4%, and Bytecoin getting hit 7.2% over the past 24 hours. The red wave extends all the way down the market cap chart until 54 spot where Huobi Token is bucking the trend. Coinmarketcap is currently reporting a 12.7% gain for HT while all others are dropping on the news. Currently trading at $4.87 Huobi Token is up from $4.33 this time yesterday.
Exchange based tokens usually do well when bad news hits crypto land, they provide a somewhat safe haven from the inevitable dump. Tether is the other option and volume in USDT is up around $5 billion since yesterday. Many traders will drop their altcoins into Tether when markets are dumping only to buy back their stash back at a cheaper price when markets start showing signs of recovery.
At the moment the drop seems to have leveled out and total market capitalization is at $283 billion, down one percent from the same time yesterday. The Bithumb hack announcement so far has had a minimal impact on the markets, far less than the big dump of June 10...
Ethereum price is holding gains against the US Dollar and Bitcoin. ETH/USD is currently correcting lower and is approaching a few key supports.
There was a decent upside move in ETH price above the $510 and $530 levels against the US Dollar. The price traded towards the $545 and $550 resistance levels where sellers appeared. A high was formed at $549.04 before the price started a downside correction. It declined below the 23.6% Fib retracement level of the last wave from the $484 low to $549 high. However, there are many supports on the downside above the $510 level.
An initial support is around the $515 and $516 levels. The 50% Fib retracement level of the last wave from the $484 low to $549 high is also near $516. More importantly, there is a major bullish trend line in place with support at $510 on the hourly chart of ETH/USD. An intermediate support is near the $512 level and the 100 hourly simple moving average. Therefore, there is a major support zone above the $510 level, which could hold declines in the near term. Below $510, the price may perhaps trade back towards the $490 level.
Looking at the chart, the price faced a strong resistance near $545. It may correct further, but there are high possibilities of $510 holding losses. On the upside, an initial resistance is at $540, followed by the $545 hurdle.
Hourly MACD The MACD is currently in the bearish zone...
The post Ripple Mining Its Not Something You Can Actually Do, Heres Why appeared first on 99 Bitcoins.
Espaol As a cryptocurrency information resource, we get a lot of questions. We make every effort to provide helpful answers in plain English and, of course, user questions give us a lot of information too. They let us know what newcomers to the space find important, difficult, or confusing. One question which has been [...]
US Senate candidate Austin Petersen revealed his campaign received, and promptly returned, a giant amount of bitcoin this week, as the donation ran afoul of financing laws. Leading candidate for the Libertarian Partys national chair, Joshua Smith, has made cryptocurrency a key part of his platform heading into the convention. Candidate for congress, coder Brian Forde, former MIT Media Lab digital currency director, and one-time technology advisor to President Obama, came out strongly in favor of cryptocurrency. The community is divided about political influence generally, but if there must be politicians its probably a positive sign some are warming to crypto like never before.
To whoever tried to give us $130,276 in #Bitcoin on Saturday, posted US Senate hopeful Austin Petersen in what had to be a tortuous Facebook message, we had to refuse your donation. Please donate $5,400 to http://austinpetersen.com/bitcoin in order to comply with FEC regulations. Also, start a PAC or something mate!
Mr. Petersen is a well known figure in liberty circles. His background includes producing Fox political shows, founding influential website ...
Bitcoin Price Key Highlights
Bitcoin price climbed to the top of its descending channel where sellers were waiting to push it back down.
Technical Indicators Signals
The 100 SMA is still below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. This suggests that the selloff is more likely to resume than to reverse.
The shorter-term moving average is also close to the 50% Fibonacci retracement level to signal that selling pressure is returning. This might be enough to push bitcoin price back to the channel support around $6,000 or lower.
RSI is also turning lower from the overbought zone to signal a return bearish momentum. Similarly stochastic is turning lower without even hitting overbought levels, indicating that bears are eager to return.
If bulls keep charging, there are still a couple of upside roadblocks to contend with. This is the 200 SMA dynamic inflection point at $7,600 and the swing high around $7,800. From there, a move past the $8,000 handle could signal that the uptrend is gaining traction.
Bitcoin price got another blow from remarks by Goldman Sachs CEO Lloyd Blankfein who said that this cryptocurrency is not for him. However, there is still some degree of positive sentiment coming from the New York FSAs approval of Squares Cash mobile app license and remarks from a senior SEC official last week citing that bitcoin shouldnt be treated as a security.
Bithumb, among the largest cryptocurrency exchanges in South Korea by trading volume, is halting asset deposit and withdrawal services after hackers stole 35 billion won from the stage. The business stated in an announcement today that the hack occurred between late Tuesday night until early Wednesday morning Korean time. Although Bithumb has yet to disclose which cryptocurrency or in what quantity had been damaged, it stated in the statement that the reduction will be dealt with by the platform. In the mean time, the business stated other assets have been moved to a chilly pocket which stores cryptocurrencies in an off-line environment thats not accessible throughout the world wide web.
As such, Bithumb said investors must instantly stop filing cryptocurrencies until further notice. The exchange hasnt responded to CoinDesks request for a comment. As of press time, Bithumb is seeing more than $300 million 24 hour trading volume on its own platform, which makes it now the 6th largest exchange in the world, data from CoinMarketCap show. The hack marks the second episode in less than fourteen days in South Korea. As mentioned previously by CoinDesk, Coinrail, a smaller cryptocurrency exchange in the nation reported that it was murdered on June 10. Although the platform didnt disclose the amount of the harm, other sources suggested in the time that $40 million worth of cryptocurrencies might be at risk.
CoinDesk will continue tracking the growing situation. Korean won picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin cash price failed to surpass a major hurdle near $900 against the US Dollar. BCH/USD declined and is currently testing the 100 hourly SMA.
Yesterday, we saw a decent upside move in bitcoin cash price above the $880 level against the US Dollar. The price traded towards the $900-910 resistance zone where sellers appeared. It failed to move above $910 and started a downside move. There was a major bearish reaction and the price declined below the $880 level. Moreover, there was also a break below the 50% Fib retracement level of the last wave from the $826 low to $927 high.
At the moment, the price is approaching a key support area above $860. There is also a short-term connecting bullish trend line formed with support at $865 on the hourly chart of the BCH/USD pair. The same trend line is positioned around the 61.8% Fib retracement level of the last wave from the $826 low to $927 high. Moreover, the 100 hourly simple moving average is positioned around the $860 level. Therefore, the $860-865 support zone holds a lot of importance.
Looking at the chart, the pair must stay above $860 and the 100 hourly simple moving average. If not, there are chances of more declines below the $850 level in the near term. On the upside, resistances are seen near $880 and $900 levels.
Looking at the technical indicators:
Leading South Korean crypto exchange Bithumb, the worlds sixth largest, has been hacked
The President of CBOE Global Markets claimed that there could be a two-fold reckoning for the ICO market depending on the action of the U.S. SEC
South Korean cryptocurrency exchange Bithumb has suspended deposits and withdrawals after losing $30 million worth of cryptocurrencies as the result of an apparent hack. The Seoul-based company, once the worlds largest cryptocurrency exchange, on Wednesday announced that $30 million worth of undisclosed cryptocurrencies had been stolen from the platform. It is not clear at what Continued
The post Breaking: South Korean Crypto Exchange Bithumb Hacked, Thieves Steal $30 Million appeared first on CCN
Bithumb, one of the largest crypto exchanges in South Korea by trading volume, confirmed a hack of $31 million worth of cryptos on its platform today.
Bithumb, one of the largest exchanges in Asia, just broke the news that it has been hacked, with the hackers reportedly stealing over $30 million worth of cryptocurrencies.
At 12:49 UTC on June 19th, Bithumb announced that they would be temporarily suspending deposits due to a change in wallets with their exchange service. Although a change in the wallet system may be a security improvement for some exchanges, it ended up backfiring, resulting in an unexpected cryptocurrency hack.
Just 12 minutes after they suspended their deposit system, they announced that they were going to suspend all deposit and withdrawal services due to an over $30 million hack from wallets. Bithumb said:
[Notice for the suspension of all deposit and withdrawal service]
We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.
Bithumb (@BithumbOfficial) June 20, 2018
It is great to see that Bithumb had their hands on the trigger in case anything went wrong, quickly moving all assets to cold storage to mitigate any further risk.
It is likely that one of the wallets they exchanged to contain malicious code, resulting in hackers stealing over $30 million dollars of cryptocurrencies, which still remain unnamed at the time of writing. To further mitigate risk, Bithumb has announced that all deposits and withdrawals will be stopped until further notice, allowing Bithumb to get its security systems back under control.
As aforementioned, Bithumb is one of the largest exchanges in Asia, collectively trading over $270 million dollars worth of cryptocurrencies in the past 24 hours. $30 million in hacked cryptocurrencies may seem like a vast sum, however, while putting into the context of the whole cryptocurrency market, it is unjust to say that this hack should have caused the market to drop over by over three percent.
Charlie Lee, founder of Litecoin, made an announcement on Twitter advising users that users should keep their cryptocurrencies in secure personal wallets.
Another day, another hack. Hopefully BitThumb is able...
Cryptocurrencies are already used to pay college and university tuition fees, buy Lamborghinis, and pay for space travel. Now you can also assist in protecting journalists and whistleblowers by donating to the Freedom of the Press Foundation (FPF) using bitcoin, ethereum, bitcoin cash, litecoin, and zcash. The donations will support current projects of the free Continued
The post Freedom of the Press Foundation Now Accepts Cryptocurrency Donations appeared first on CCN
CEO of Spanish bank BBVA said that in its current stage of development, blockchain is an immature technology
ICON is gearing up for its token swap which will see its ERC20 tokens exchanged for mainnet ICX coins.
While the crypto market is in a general bear slide, Ripple is amongst the top performers in the last 24 hours. To quantify, Ripple is up three percent rejecting sellers attempt to drive prices towards 40 cents which double ups as Q2 and April lows. 40 cents is basically a key support line in our analysis and all things constant, it might as well as be a spring board for buyers in the days to come.
Just a single announcement from the SEC and various coin supporters are already churning dissertations explaining why their digital assets are utilities. According to the SEC, decentralization is the top consideration and a filter that qualifies a coin as a security or a utility. As we all know, XRP token and Ripple Labs are one and the same thing.
XRP token came to existence because of the RTXP Protocol. XRP is an enabler for companies using the Ripple Protocol gateways as they can settle their transactions instantly. By definition, this coin is nothing more than a liquidity tool. Thats its sole purpose and as an infrastructure specifically meant for banks and an alternative to slow SWIFT, financial institutions can decide to forego XRP but still use other Ripple products as xRapid and xCurrent.
Back to decentralization and many think there is an element of decentralization in Ripple. Here we have Ripple Labs though with a decentralization strategy in place whose first phase is up for implementation next month, the sheer amount of coins at their disposal is a worry. Brad Garlinghouse says this is a non-issue but as long as they have these coins and control network validators, freeze user accounts at will, then we have nothing more but centralization.
Currently, supporters point to FinCEN and how their 2015 agreement is binding but what many forget is that FinCEN and SEC are two different entities with diverging objectives. FinCEN goals are simple: Nab illegal financial transaction and ensure facilitators adhere to AML, KYC and ATL laws and regulation. On the other hand, SEC is in place to protect investors in the securities market. Its basically an oversight role which FinCEN isnt. So whether SEC consider XRP a security or utility is upon their main criteria: Decentralization.
Over all, yesterday was a pretty good day for alt coins. Fact is we saw higher highs in most coins under our radar and spearheading this recovery was Tron. At some point, Tron was up 20 percent and this comes some five days before Trons mainnet launch which like others often come with dip in prices. But, if yesterdays momentum continues and most importantly this week end up bullish then its most likely that TRX would edge higher.
Lets have a look at these charts:
All things constant, its easy to point hands and even thrash EOS for their efforts. Yes, there was a glitch on Saturday but it was resolved-quickly and thats what counts. Its not EOSIO fault either as their protocol demands an emergency protection mode when low hanging bugs threaten to destabilize or even fork the system.
By all accounts, the response from Block One was swift. Even after patching up the system, proposing new updates and flagging off normal operations, Block Producer (BP) voting continues. EOS Canada and EOS New York are front runners but that doesnt mean BitFinex, who were so influential during coin staking dont stand a chance. What we know though is that the list of 21 BPs keep changing and before the final tally is out, we shall be watching EOS price stability closely.
Block Producers are required to follow a candidacy process that involves submitting informational documentation. In addition, ensure Block Producers various communities like TG, FB, Meetup, and more are consistently active.
On to the charts and even though EOS is up two percent in the last 24 hours, buyers are equally rejecting lower prices. Our main support stands at $10 while buy triggers are at June 14 highs at $13. Before we conclude on short to medium term trend direction, lets wait and see where price action will lead us to. Generally speaking,...
It is easy to be allured by crypto and neglect the real world. However, a new mania is coming: for a month everybody will talk about world football cup. Here at Intellectsoft Blockchain Lab we fantasized: what if there was a World Cup for cryptocurrency? We assumed what crypto projects are the closest to bringing Continued
Turkeys so called national crypto, Turcoin, has turned out to be a classical example of a Ponzi scheme, local media reported. The founders of the alternative digital currency are believed to have fled the country with millions of dollars collected from defrauded investors. The company behind the Turkish token stopped distributing dividends earlier in June.
Turcoin, presented as a rival to the global virtual currency bitcoin, has been exposed as just another Ponzi scheme, after the executives of the project suddenly disappeared, according to local press reports. The Turkish altcoin, advertised as a national alternative digital currency, was launched by the Istanbul-based company Hipper A.. founded by Muhammed Satrolu and Sadun Kaya last year.
In what sounds like a familiar scenario, every new participant in the network was supposed to bring more reven...
John McAfee, founder of the eponymous antivirus software, said he will no longer work with ICOs or promote them due to SEC threats
Cryptjacking is fast becoming a popular way for cyber crooks to make money. For instance, around 5% of the cryptocurrency Monero currently in circulation is estimated to have been mined fraudulently, according to security firm Palo Alto Networks. Over the weekend it was reported that a ring of cyber criminals in China had conspired with Continued
The post Siacoin Mining Malware Generates Nearly $1 Million in China-based Attack, 16 Arrested appeared first on CCN
A poll conducted by Capgemini found that the majority of millionaires are very or somewhat interested in holding cryptocurrencies as an investment and as a store of value. While most wealth management firms have been ambivalent regarding providing virtual currency investment information to clients, over two-thirds of high-net-worth individuals aged 40 and below would find it valuable.
Capgemini, a leader in consulting, technology and outsourcing services based in France, released The World Wealth Report 2018 (WWR) on Tuesday. The document states that high-net-worth individuals wealth defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables and consumer durables has surpassed the US$70 trillion threshold for the first time ever in 2017.
The survey, which was based on responses from more than 2,600 HNWIs across 19 major wealth markets in North America, Latin America, Europe and Asia-Pacific, found that millionaires have grown their interest in cryptocurrencies but remain cautious regarding the asset that peaked in market capitalization in early January 2018.
The poll found that 29 percent of participants have a high degree of interest, while 26.9 percent said they are somewhat interested in cryptocurrencies for its potential for investment returns and as a store of value. There is a negative correlation between their age and their interest in virtual currencies, with 71.1 percent of HNWIs aged 40 and below placing high importance on receiving information from their wealth managers. Only 13 percent of millionaires aged 60 and above have that kind of interest.
Most wealth management firms, however, have yet to onboard the cryptocurrency investment train as only 34.6 percent of the high-net-worth individuals surveyed have received information on the topic from their wealth managers. The report point to regulatory uncertainty and firm caution as the main causes of cryptocurrencies lack of penetration within the wealth management industry. Younger millionaires and their growing cryptocurrency enthusiasm, however, may force wealth managers to at least develop and offer analysis on the topic in the coming months.
The buy-side business seems to be failing to connect very well to its clients on Capgemini standards. The French consulting group draws the...
Peer-to peer file sharing service BitTorrent seemingly pushed against claims that it might Begin using cryptocurrencies after being obtained by the Tron Foundation. In a statement posted to its web site Tuesday, BitTorrent wrote the firm has no plans to change its business model and wont charges fees for any of its services. Further, the business stated that its no plans to enable mining of cryptocurrency now or in the future. The business was lately acquired by the Tron Foundations Justin Sun, based on a report by Variety. The statement continued: BitTorrent was A pioneer of peer-to peer file sharing and we think our vision of democratizing the web through allowing decentralized, resilient access to info remains as relevant as it was whenever we first started.
News that the company will be acquired first surfaced a week ago, and on Tuesday it was reported that the price tag of the deal was $140 million. Nevertheless, BitTorrent co founder and former president Ashwin Navin told CoinDesk in an interview that the true acquisition cost was $120 million. The value of the deal is about $120 million. I think there are several numbers out in the people who were wrong, I think the value is lesser compared to that, Navin told CoinDesk. Price tag aside, the information delivered Trons TRX tokens up almost 20 percent, based on a previous report by CoinDesk.
Sun, who founded the Tron Foundation, allegedly said during a radio show hes full respect for BitTorrent. Nevertheless, he declined to state what he expected the two companies will work after the merger, noting just that some news could be released next month. On Tuesday, BitTorrent concluded its article saying that we repeat that were committed to our hundreds of million users globally and will continue to innovate and invest in the BitTorrent and uTorrent products. BitTorrent picture via Piotr Swat / Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
For Lloyd Blankfein, bitcoin isnt his thing. The Goldman Sachs chairman and Chief executive officer said in a meeting on Tuesday that it isnt for me personally when asked about the worlds largest cryptocurrency by market capitalization. Appearing in the Economic Club of NY, he remarked: I do not do it. I do not own bitcoin. . Blankfein has struck a type of middle-of the road tone on cryptocurrencies at the past, which is noteworthy considering that his company is allegedly toeing the waters of services built around the tech. The investment banking giant is said to have developed plans for a bitcoin futures trading procedure, according to The New York Times, with a watch on growing that capacity based on the results and approval from regulators.
In a prior interview with Bloomberg in Nov, Blankfein said hes a level of distress with bitcoin, but is open to it. I have learned through the years that there is a great deal of things which workout pretty well that I do not adore. He explained at the time. Perhaps in the new world, something gets endorsed by consensus. When we moved in the future and bitcoins have been successful, Id be capable to explain how it is a natural evolution of money . The Wall Street Journal reported in March the Blankfein is preparing to exit the business, a move that might come once the end of this year. Photograph from Stuart Isett/Fortune Most Powerful Women Summit. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A start-up wants to challenge major app stores and their unfair policies by reducing commission fees and speeding up payments to merchants #SPONSORED
The founder of a smaller cryptocurrency called Tron is acquiring BitTorrent for $120 million and social media is alight over the real reason "why."
Digital giant IBM introduces a blockchain-based pilot for tracking digital media transactions to provide transparency and cut costs in the advertising industry
The reckoning will come in two waves. Theres a big shakeup happening in the ICO market, and it should be keeping investors up at night, says CBOE President and COO Chris Concannon. Concannon, also CEO of BATS Global Markets, told Business Insider that the market for ICOs is about to undergo major regulatory changes leading Continued
The post Coming Reckoning Will Shake up ICO Market: CBOE President appeared first on CCN
\Chain Accelerator has launched in France. It is the
first startup acceleratordedicated to the blockchain that can
call Europe its home. Among the organizations chief operators are
Hyperloop Transportation Technologies chairman Bibop G. Gresta,
former SWIFT CEO Leonard Schrank, and Ledger president Pascal
The company will assist startups with initial coin offerings (ICOs), business development plans, marketing and public relations.
In a statement, co-founder Nicolas Cantu explained, At a time when the President and the Government want to make Paris the capital of the ICOs, Chain Accelerator is positioning itself as a key player. By setting up a global and operational network in Paris, it brings together the best talent, extends the circle of contributors, and prepares for disruptions to help blockchain projects develop protocols in all sectors.
France has been relatively mixed when it comes to blockchain and cryptocurrency culture. Bruno Le Maire, the Minister of the Economy and Finance, has been particularly wary of cryptocurrencies in the past, and has called on regulators to implement strict rules when it comes to governing and controlling their activities.
In May, however, Le Maire expressed a drastic change of heart in a blog post for a French startup, writing:
A revolution is under way, of which Bitcoin was only the precursor. The blockchain will offer unprecedented opportunities for our startups. I was a neophyte a year ago, but now Im passionate. Let us show a lot of pedagogy with our fellow citizens to make France the first place of blockchain and crypto-active innovation in Europe.
The integration of Chain Accelerator in France could help Paris become a major hub for blockchain development. Currently, the executive board of Chain Accelerator consists of over 30 individuals who will serve as mentors to Europes growing list of crypto-based startups, thus increasing the companys potential to succeed and expand.
In addition, as blockchain technology and cryptocurrency garner more acceptance throughout t...
Two of Russias largest banks, Alfa Bank and Sberbank, will soon be offering clients access to cryptocurrency portfolios that will permit the trading of six popular coins on major exchanges Kraken and Bitstamp.
Alfa Bank is the largest private bank in Russia, while Sberbank is state-owned and is responsible for processing government employee pay checks.
According to reports from Russian news outlet Kommersant, the two banks plan to enter crypto trading by seeking help from Group IB and AddCapital investment fund, which will be in charge of providing technical solutions for the project. Also aiding in the development is the National Settlement Depository (part of the Moscow Exchange Group), which will be the portfolios custodian.
Anton Rakhmanov, manager of Alfa Banks private banking branch said that he hopes the move will speed-up the recognition of the digital assets as legitimate financial assets as soon as possible.
The portfolio will include the six most popular cryptocurrencies. As per CoinMarketCap, these are Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Litecoin. When operational, the portfolio will be altered at least four times in a given year when a trading algorithm will alter the combination of coins offered as necessary.
Alexey Prokofyev, CEO of AddCapital, provided further details:
The investment process will see investors purchase a share of the fund as the shares are liquid and a client can send them for fiat currencies any time.
Ana Ivanchuk, Deputy Chairman of Private Banking at Sberbank, was quoted as saying:
Wed like to offer our clients an absolutely transparent way to invest in digital assets with a full compliance with regulations that will let them invest in the product they are interested in Russia....
This week the Bitcoin Cash (BCH) community had found that two trademark filings for the phrase Bitcoin Cash were registered with the United States Patent and Trademark Office (USPTO) over the past year. One trademark filing was registered with the USPTO on May 18, 2018, but the individual who registered it may be an accused con-artist from Hawaii who was charged with bilking millions of dollars from residents within the Honolulu region in 2001.
Following our recent report that detailed how a company from the UK managed to successfully trademark the name Bitcoin, another odd trademark filing was found tied to the name Bitcoin Cash according to public documents. There are two filings with the USPTO that are looking to claim the name Bitcoin Cash for products and goods associated with computer software licensing and online real-time currency trading. The most recent filing, registered on May 18, 2018, applies to computer software licensing and was registered by an individual named Ronald Keala Kua Maria from Hawaii. The USPTO filing also says after Kua Marias name AKA Satoshi Nakamoto which indicates Kua Maria is claiming to be the inventor of cryptocurrency.
BitTorrent said it has "no plans to enable mining of cryptocurrency now or in the future" in a statement on Tuesday.
The post Web Browser Brave to Trial Crypto Payments for Opt-In Ads appeared first on CCN
Blockchain startup Circle has released new details on how itll pick cryptocurrencies for its trading and investment systems. On Tuesday, the company published its Activities Framework, offering an approximate analysis of what aspects are evaluated when assets are added onto the Poloniex cryptocurrency market, and also its own Circle Invest along with Circle Trade merchandise lines. These standards cover five different classifications, including the projects fundamentals, the technology underpinning a token, the people behind a job, the company model employed and the accessible market, in accordance with the document. At release, the Circle explained that one of our principal aims for Circle products such as Poloniex, Invest and Trade is to supply our clients with access to innovative new jobs that fuel the business.
Each criterion comes along with a list of potential questions which Circles evaluators would consider when examining a job. Nevertheless, the business noted that this framework isnt meant to be a thorough check-list of requirements that jobs should meet, explaining that this framework is intended to help us prioritize new lists in accordance with the opportunity they present for Poloniex customers. . Circle also printed an Asset Listing Form, which any project applying to be recorded must fill out as a very first measure. Notably, the business noted that it wont accept any sort of payment to list an asset. .
Currently, Circle Invest already offers bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, zcash and monero to its customers. The move comes only weeks after Circle allegedly began seeking a banking permit inside the USA. The permit, if approved, would empower Circles different platforms for exchanging cryptocurrency tokens which are considered to be securities. Its unclear whether or when Circle will obtain the license. Cryptocurrencies image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Brewing giant Anheuser Busch InBev is planning to shake digital advertising distribution chains with the aid of all blockchain technology. The worlds biggest brewer has launched its first ad campaigns via the Kiip mobile marketing program, which uses ethereums blockchain to record and track information. The target is to monitor and possibly expand the range of a certain ad, based on a press release. The campaign, that started fourteen days ago, has featured five of AB InBevs most favored brands, including Budweiser, Bud Light, Michelob Ultra, Limeatrita and Estrellas. The campaign is built around Kiips new blockchain product, which was designed to improve transparency and handle issues like mobile ad fraud by maintaining the campaign database available to players in mobile ad sales.
Various metrics including impressions, participation and cost are encoded on the ethereum blockchain, and AB InBev can track these ad activities every hour. This approach reduces the period of time which the campaigns organizers invest in monitoring the metrics. In the mean time, the ad buyers can pay only for the advertisements that meet their criteria. The newest ad system is only AB InBevs latest move into the crypto area. The Belgium based behemoth joined a consortium to experimentation with the blockchain technology for international shipping applications in March, as previously reported by CoinDesk. Picture Credit: Shi Yali / Shutterstock.com. The leader CoinDesk, in blockchain information is a media outlet that tries for the greatest standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Japans Financial Services Agency (FSA) will be taking administrative action against several registered cryptocurrency exchange operators in the country.
These exchanges include Quoine, Bitbank, BITPoint Japan, BtcBox, and industry leader BitFlyer, who authorities claim dont have proper internal management systems in place, including measures to prevent money laundering.
The moves were announced today, and suggest that even operators registered under the revised payment services law, which was put in place in April of last year, have not yet established adequate internal control systems. According to the FSA, the agencys crackdown the third against multiple cryptocurrency exchange operators is aimed at making the crypto industry healthier and safer, reports the Japan Times.
Digital currency transactions in Japan in 2017 increased 20-fold, a jump from 2016 to about 69 trillion. The problem is that, despite warnings earlier this year from the FSA, some exchange operators have failed to take sufficient measures to prevent money laundering and protect customers assets. These include things like verifying customers identities and enacting preventative measures to protect exchanges from hacks and thefts.
In February the FSA carried out on-the-spot inspections of all exchange operators under screening for registration, taking administrative action on many of them. These moves came primarily in response to the massive theft of the cryptocurrency NEM from Tokyo-based Coincheck Inc., which was also under screening, in January.
As noted, the FSAs proactive moves have come p......
From self driving cars to car sharing application, how blockchain change automotive industry
Theres been a lot of controversy over the past few weeks stemming from the anonymous Twitter handle and co-owner of Bitcoin.org, Cobra Bitcoin. The well-known BTC community member has been at the forefront of contentious subjects for many years now, and this week Cobra is claiming that one man has control of more than 51 percent of the BTC network.
The notorious Cobra is at it again stirring up controversial conversations on Twitter, and begging the BTC community to change the protocols proof-of-work (PoW) consensus algorithm. Cobra believes mining pool centralization has taken over the network. Cobras tweets specifically target the Chinese firm Bitmain Technologies and the companys CEO Jihan Wu. This is not the first time Cobra has initiated the subject of mining centralization as he has brought the topic up many times over the years, alongside BTC core developer Luke Jr, another staunch advocate of a PoW change. On June 18 the co-owner of Bitcoin.org shared a pie chart of the mining pools processing blocks on the BTC network and stated:
Brewing giant Anheuser-Busch InBev is hoping to make a splash in the digital advertising supply chain with the help of blockchain technology.
Consensus by conference call thats how one critic characterized the on-chain governance model employed by the nascent EOS network in the wake of several high profile incidents involving block producers. Most recently, the networks 21 block producers organizations who verify transactions and validate blocks froze seven EOS accounts allegedly belonging to thieves Continued
The post EOS Faces Constitutional Crisis over Frozen Accounts appeared first on CCN
The CEO of fintech firm Circle claims that every world currency will one day have their own digital version. Jeremy Allaire spoke to CNBC in an interview today about the inevitability of a crypto dollar, yen, and euro in the future.
Jeremy Allaire spoke in no uncertain terms about the likelihood of digital currency versions of traditional currencies to CNBC. The Circle CEO stated:
Our view is that all fiat currency will be crypto It seems inevitable at this point.
Allaire co-founded Circle in 2013 with partner Sean Neville. Since then, the fintech start-up has been right up there with the firms most supportive of the financial innovation that is cryptocurrency. They currently offer Circle Pay an application that allows the transfer of funds from one user to another that is facilitated using blockchain Bitcoins underlying technology.
The company have also created Circle Invest an application that will allow their users to buy and sell the most established cryptocurrencies. In addition to this offering tailored to retail investors, the startup also provides support to institutional investors. Circle Trade allows over-the-counter (OTC) trades in excess of $250,000.
Circle enjoy the support of some rather impressive names. Both U.S. investment banking giant Goldman Sachs and the Chinese internet powerhouse Baidu back the startup. The company that is currently worth in excess of $3 billion also recently acquired the digital currency trading platform Poloniex.
During Mondays interview with CNBC Allaire commented on Circles commitment to developing fiat-pegged stablecoins. The CEO stated:
Our focus with fiat stablecoins is we really think of it as a core building block for a crypto native global digital economy Our interest is in how do we take all of the tasks involved in the financial industry and move those onto a crypto native infrastructure.
Circle are currently working on a U.S. dollar-backed digital coin. It will be known as Circle USDC or USD Coin. Its being built within a platform cal...
The Digital Future Council made its public debut on June 18,
2018, at the 2018 Cannes Lions International Festival of
Creativity. With founding members from such organizations as IBM,
Vice, CNN, Lego and Warner Bros., the council was formed as an
informational intermediary to find common ground between creative
and technological industries.
The Digital Future Council will be introducing a fresh batch of founding members with its official launch. These names include Meltem Demirors, CSO of CoinShares; Charles Manning, CEO of Kochava; Chad Andrews, global solutions leader at IBM; CNNs Head of Content and Strategy Danielle Lauren and VP of Digital Strategy and Revenue Robert Bradley; Swen Graham, SVP of global marketing at Foursquare; and James Poulter, Head of Emerging Platforms at The LEGO Group.
During the festival, the council is hosting roundtables, dinners and town hall discussions on blockchain technology and how it may fit into legacy industries, particularly in the media and creative sectors. These talks will particularly emphasize the role blockchain technology could play in reimagining digital advertising models and consumer-controlled data, and they will challenge those from without the industry to envision how the technology could positively impact brand-consumer relations.
The Digital Future Council was established to provide a forum for media, advertising and technology leaders to convene and communicate openly about areas of their businesses that could be enhanced by emerging technology, David Wachsman, founder and CEO of the Wachsman blockchain PR company, told Bitcoin Magazine. The Digital Future Council gives Wachsman a platform to have eye-opening conversations about how blockchain can transform businesses, specifically in media and advertising, as the proliferation of digital advertising, rising adoption of technology, and shifting consumer habits are changing the business of advertising.
A blockchain-focused public relations company and one of the founding members of the council, Wachsman is positioned, along with other crypto industry representatives like Po.et, Gifto and CoinShares, to offer tutelage and guidance to council members who are less acquainted with blockchains relevance with their respective industries.
Through the dozens of blockchain companies our firm has worked with to date, weve seen firsthand what works and what doesnt and I hope that I can relay some of these learnings to the members of the council so that these leg...
Tron is reporting double digit gains on Tuesday and is the biggest gainer among top 100 cryptocurrencies. The cryptocurrency seemingly picked up a bid after reports started doing the rounds that Tron Foundation founder Justin Sun acquired BitTorrent the owner of popular file sharing client uTorrent for $140 million. Rumors of the acquisition have been floating around since the end of May and the deal was reportedly signed a week ago. As of now, its unclear how an acquisition will assist TRON cement its reputation as a truly decentralized internet. Though Sun is usually rather vocal, hes remained unusually quiet about the deal.
Nonetheless, the acquisition has definitely revved up investor interest in crypto-currency. At press time, the worlds 10th largest cryptocurrency by market capitalization is trading at $0.0493 8 up 17.9 percent, having clocked a 9 day high of $0. 7 at 18: 44 UTC, according to CoinMarketCap. Its market capitalization has moved above $3.2 billion. Regardless of the stellar gains, its still too soon to call a bullish trend reversal, the price chart analysis indicates. Daily chart. The above chart shows TRX is trapped in a falling channel.
Therefore, the broader outlook remains bearish despite double digit gains seen in the last twenty four hours. That said, the recovery from $0.0374 to $0.051 has neutralized the immediate bearish outlook. Further, the relative strength index has breached the falling trendline resistance in favor of the bulls. Therefore, TRX might stay better bid in the next few days. View. TRX might attack the 100 day moving average, currently lined up at $0.0553 in the next few days. A break above that level would expose the falling channel hurdle, currently seen at $0.0638. Only a high volume closes above the falling canal resistance would confirm a long run bearish-to bullish trend change.
Bearish scenario: TRX will likely drop to $0.032 if the bulls fail to defend $0.041 despite the positive news flow. Hot air balloon image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
John McAfee, the cybersecurity mogul became cryptocurrency promoter stated Tuesday that hell ends his work on initial coin offerings. At a tweet, McAfee cited SEC threats by revealing that hed stop working on token sales or recommend them to his 800, 000 and followers on Twitter. It represents the conclusion of what was supposedly a prominent line of business, with McAfee revealing in Apr that his ICO team was charging over $100, 000 for one promotional tweet, based on a report from The Verge. McAfees statement follows a period of sustained critique against the Securities and Exchange Commission, the U.S.
Securities market regulator which has steadily increased its supervision and action at the crypto space because it stated last summer that American securities legislation might apply to a token sales. Additionally, it comes just days following a senior SEC official stated that ether the cryptocurrency of the ethereum network isnt a safety, which largely came as a relief to members of the crypto community. Just a week ago, for instance, McAfee declared via Twitter that he wouldnt accept the SECs opinion that lots of token sales qualify as securities offerings.
Indeed, earlier this month, McAfee challenged SEC chairman Jay Clayton into a public debate, posting what he claimed was the bureau chiefs telephone number and encouraging his followers to make contact. Plans to cease promoting ICOs aside, McAfee suggested that he isnt walking away entirely. McAfee wrote that he was drawing an equivalent alternate to ICOs he said the SEC cant touch. Please be patient, he concluded. The SEC didnt respond to request for comment by press time. Picture via Gage Skidmore/Flickr. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Cointelegraphs decentralized application aggregator DApphub launches at https://dapphub.cointelegraph.com/
Companies associated with the Japanese cryptocurrency industry are trying to increase consumer protection and transparency with a set of self-policing regulations. The rules aim to tackle issues such as insider trading and security compromises at exchanges amongst others.
The Japan Virtual Currency Exchange Association (JVCEA) is behind the initiative that will be voted upon on June 27. The JVCEA was created in March with the intention of being recognised by the domestic financial watchdog, the Financial Services Agency (FSA). The FSA have previously taken a more relaxed view towards regulation in an effort to encourage innovation in the industry, but incidents such as the Coincheck hack have prompted calls for greater regulation.
According to Nikkei Asian Review, there are almost 100 pages of proposed regulatory measures which the group are hoping will help protect customers and exchanges alike. However, not everyone in the industry is happy about the regulations. One unnamed exchange official told the publication about what the additional costs compliance would entail:
Were being subjected to rules almost as tough as the Financial Instruments and Exchange Act.
The JVCEA rules will include an explicit ban on insider trading. There are concerns that major exchanges have exploited their knowledge of new coin launches to ensure profit in the past. Market manipulation based on such knowledge would be against proposed regulations.
There is also talk of further prohibiting new privacy-focused coins in the future. The fear is that such currencies are being used for money laundering, drug trafficking, and other nefarious reasons. The FSA has already banned coins such as Monero, Augur, Dash, and Zcash from Coincheck the largest Japanese exchange based in Tokyo.
The JVCEA are also hoping to create regulations that could help protect against exchange hacks. Coincheck was famously compromised to the tune of almost half a billion dollars at the beginning of the year. Proposed rules would require exchanges to submit audit results to the JVCEA and most private keys...
Blockchain startup Circle released its cryptocurrency listing criteria for its trading and investment platforms on Tuesday.
Mining firm and blockchain software services company Bitfury want to expedite blockchain development for traditional enterprises and business. Working toward this end, the company announced today that it is introducing Java binding for its blockchain service, Exonum. The soon-to-be available binding comes along with software development kit which Will allow developers to construct Private networks on Exonum that may be anchored to public blockchains, the news release notes. In computer science, binding allows a library of data written in one coding language to interact with libraries written in another coding language. For Exonum, that is written in Rust, it implies That programmers can now build on the network using Java.
Eventually, This will allow Java programmers to create private blockchains in addition to Exonums framework. Java binding will provide companies, enterprises along with other organizations with the tools they need to tailor private blockchain networks to suit their needs. If they so choose, enterprises can anchor these private chains into a public chains mainnet, giving them the privacy and flexibility of a permissioned network with the transparency and credibility of a permissionless one. The Java binding feature also allows developers to integrate 3rd Party programs with Exonums blockchain. With the Java binding and its software development kit Exonum mind Gleb Palienko hopes that the two additions to Exonums suite of offerings must attract more coders to its network.
Java binding is intended to make it easier for enterprises and businesses to implement blockchain applications, Palienko told Bitcoin Magazine. Java has the largest developer community and is the de facto standard for large businesses, while Rust isnt as it is widely used, so this movement will usually makes Exonum more accessible to more individuals. Getting the Java develop community on board is an important step towards making Exonum the most developer friendly framework., With Java enabled, Exonum users can now launch smart contracts, Palienko added. The Exonum head expects that this first step will clear the way for Bitfurys blockchain to bind with the Java virtual machine ancillary programming languages, as well.
No other language is supported currently, But later on, Java binding might support other JVM languages, like Kotlin, Groovy, Clojure or Scala. Nevertheless, Java binding is just the initial step. We hope to do blockchain application development available to all programmers, irrespective of the language theyre familiar with.,Exonums Java binding comes a month after Amazon launched its own blockchain-as-a-web service, Kaleido. Like Exonum, Kaleido allows enterprises to set up their very own private blockchains while giving them the option to synchronize it with a public chain. Developed with the aid of Ethereum incubator ConsenSys, Kaleido can be anchored to Ether...
Sometimes it doesnt pay to diversify just ask cryptocurrency hedge fund Pantera Capital, whose fund underperformed the bitcoin price last month. According to Bloomberg, the firms Digital Asset Fund underperformed bitcoin during May as the cryptocurrency markets continued to decline further from the all-time highs they set in late December and early January. Pantera Continued
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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
On June 29, 2018, Bloomberg will host a half-day, invitation-only The Future of Cryptocurrencies event at Bloombergs offices in the heart of London, England. The event will focus on the future of cryptocurrencies, where subject-matter experts and leading industry players from the virtual currency market will discuss cryptos regulatory future, the factors driving its volatility and potential trading strategies. More than 200 industry executives, including attendees from such global giants as UBS, Societe Generale and IBM to name a few, are expected to attend.
Bloombergs The Future of Cryptocurrencies is sponsored by trade.io and is the first event exclusively focused on cryptocurrencies produced by Bloomberg Live.
Event speakers include:
John Patrick Mullin, trade.io
Ajit Tripathi, Partner, ConsenSys
Mona El Isa, Melonport, CEO & Co-founder
Oliver con Landsberg-Sadie, BCB Group CEO
Nic Niedermowwe, Prime Factor Capital Co-Founder & CEO
Stijn Vander Straeten, CEO, Crypto Storage Ag
With opening remarks from:
Jim Preissler, trade.io
When: Friday, June 29th, 8:30-1:00pm GMT
Where: Bloomberg Headquarters, 3 Queen Victoria Street, London
Jim Preissler, trade.ios CEO, said, Bloombergs involvement in this event illustrates how crypto and blockchain are becoming more and more accepted by mainstream finance.
There will be many interesting, thought-provoking panels which will include an opening remark from our CEO Jim Preissler, as well as our Director of Research & Development, John Patrick Mullin, said He...
Dealing in crypto without obtaining a license from authorities has been declared illegal in Cambodia, in a joint statement released today by the countrys central bank
A Malaysian government advisory committee has signed a MOU to work with a South Korean blockchain lab to develop a halal blockchain platform
Cryptocurrency, a technology based upon principles of transparency, accountability, and censorship-resistance, is facing further censorship. Blogging service Medium joins a long list of platforms to have clamped down on crypto content together with Facebook, Google, and Mailchimp. As a service thats meant to support free speech, Mediums crackdown is all the more mystifying.
Medium is the crypto communitys platform of choice for long reads and thought leadership pieces. Its a place where the latest thinking on tokenomics, hashing algorithms, blockchain scaling and much more can be found. Its also where ICOs and other cryptocurrency projects publish details of their crowdsale, bug bounties, and other initiatives for the benefit of their community. In the past week, however, Medium has begun inexplicably suspending the blogs of crypto projects. The reasons for its decision are sketchy, but the suspensions seem to be triggered by content discussing airdrops or bug bounties.
In a post entitled Status, Medium, and Censorship, Ethereum-based messaging platform Status ...
Mining firm and blockchain software service company Bitfury
wants to expedite blockchain development for traditional enterprise
and business. Working toward this goal, the company announced today
that its introducing Java binding for its blockchain service,
Exonum. The soon-to-be-available
binding comes with a software development kit that will allow
developers to build private chains on Exonum that can be anchored
to public blockchains, the press release notes.
In computer science, binding allows a library of data written in one coding language to interact with libraries written in another coding language. For Exonum, which is written in Rust, it means that developers can now build on the network using Java. Ultimately, this will allow Java developers to create private blockchains on top of Exonums framework.
Java binding will provide businesses, enterprises and other organizations with the tools they need to tailor private blockchain networks to fit their needs. If they so choose, enterprises can anchor these private chains to a public chains mainnet, giving them the privacy and versatility of a permissioned network with the transparency and reliability of a permissionless one.
The Java binding feature also enables developers to integrate third-party applications with Exonums blockchain.
With Java binding and its contingent software development kit, Exonums head Gleb Palienko hopes that the two additions to Exonums suite of offerings should attract more coders to its network.
Java binding is meant to make it easier for enterprises and businesses to implement blockchain applications, Palienko told Bitcoin Magazine. Java has the largest developer community and is the de-facto standard for large enterprises, while Rust is not as widely used, so this move will generally make Exonum more accessible to more people. Getting the Java develop[er] community on board is a big step toward making Exonum the most developer-friendly framework.
With Java enabled, Exonum users can now launch smart contracts, Palienko added. The Exonum head expects that this initial step will clear the way for Bitfurys blockchain to bind with the Java Virtual Machines auxiliary programming languages, as well.
No other languages are supported at this time, but in the future, Java binding may support other JVM-languages, such as Kotlin, Groovy, Clojure or Scala. However, Java binding is only the first...
John McAfee said in a tweet early this morning that he is "no longer working with ICOs" nor promoting them because of "threats" from SEC.
Investors in Turcoin have alleged it is a ponzi scheme after one of its organizers funnelled money to Cyprus and stopped payouts
Metropolitan Bank, a commercial bank based in New York, has revealed that more than 15 percent of the banks deposits are made by cryptocurrency investors and clients, and that the bank is willing to continue its support for digital asset traders. In an interview with Leigh Cuen of Coindesk, Metropolitan Bank CTO Nick Rosenberg said: Continued
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Europes first blockchain accelerator launches in Paris, includes banking execs and an ex-SWIFT CEO
IBM iX The Big Blue digital strategy arm and the ad program provider Mediaocean are teaming up to create a blockchain consortium aimed to solve some of the largest problems in the advertising world. The consortium, that already signed the main brands like Kelloggs, Kimberly Clark, Pfizer and Unilever, will probably be using blockchain technology to ultimately provide transparency and build trust and accountability in the advertising business, based on a press release. The campaign will see the creation of a brand new blockchain solution using IBM Blockchain and MediaOcean campaign management platform which the companies say will provide a complete and immeasurable image of your digital ad distribution chain, helping companies identify exactly where their ad spending budget is being spent.
Bill Wise, Chief executive officer of Mediaocean, stated in the release. In recent decades. The industry has been affected by unsustainable economics and transparency problems that interfere with progress especially around middleman fees and non working media. By partnering with IBM, we are able to launch the first advertising blockchain solution which will improve pay transparency at scale. IBM iXs Babs Rangaiah commented that blockchain could provide a single source of truth to some given media buy, eliminating the doubt and doubt thats common today. The aviator blockchain ad solution will launch in July, the release says. IBM sign picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Tron saw double-digit gains Tuesday after announcing it acquired BitTorrent for $140 million.
Our newest stock suggestion, Globalive Technology, just announced a major joint venture with Flexiti Financial to create an AI-blockchain software for the consumer loan market.
Flexiti is a leading private label credit card issuer in Canada who recently acquired TD Financing Services Canadian private label credit card portfolio, which has helped facilitate more than $3 billion in transactions.
Globalive Technology (TSXV: LIVE & US: LVVEF) plans to leverage Flexitis $300 million loan portfolio, with 1.1 million customers, to build an AI platform that anonymously analyzes merchant transaction data.
This allows merchants to create value-added transactions at the point of sale and reduce bad debt by predicting loan outcomes using machine learning. In addition to this, the blockchain software will be built to help the loan funding infrastructure.
Here is what Peter Kalen, Flexiti founder and CEO, had to say upon this announcement We are thrilled to partner with Globalive Technology Building and operationalizing industry-lea...
Cybersecurity pioneer and sometime cryptocurrency shill John McAfee said that he will no longer promote initial coin offerings (ICOs) on his Twitter account. The eccentric McAfee, who promised that he will eat my dk if the bitcoin price fails to reach $1 million by 2020, wrote on Twitter that he must cease his public support Continued
The post Crypto Shill John McAfee Blames SEC for Shutting ICO Pump appeared first on CCN
IBM iX and ad software provider Mediaocean are forming a blockchain consortium aimed to solve some of the biggest issues in advertising.
Canaans Avalon ASIC miners do not seem to be getting much attention unlike Bitmains for example, but that doesnt mean they do not have something new and interesting to show from time to time. Their latest creation Canaan Moose is an integrated Bitcoin ASIC miner solution that offers 156 THS SHA256 hashrate for BTC mining in a single package that is ready to be plugged in and start mining. The miner is based on twelve Avalon 841 that consume a total of 15480 Watts of power and the miner needs three phase power in the from of two IEC 60309 16A power connectors.
Canaan Moose Specifications:
Hashrate: 156TH/s, -5% ~ +10% : Average 163.2
Power Consumption: 15480W, +0% ~ +20% @ 13TH/s, 25C, 93% PSU Efficiency, 12V AC, Wall-Plug
Power Efficiency: 0.099J / GigaHash Wall-Plug
Power Connectors: IEC 60309 16A x 2
Rated Input Voltage: 365 ~ 418V
Frequency: Smart Speed
Network Connection: RJ45 Network Connector
Operating Temperature: -5 ~ 30
Air-intake Temperature: -5 ~ 30
Dimensions: 890 x 450 x 725 cm
Net weight: 140kg
The 156 THS Canaan Moose ASIC miner is priced at $9900 USD and comes with everything ready to be used, you just need to plug power and internet and set your mining pool and worker. No need to setup things using 12 separate ASIC miners, everything is ready to go with power supplies, network connectivity and miner control. It even seems to come cheaper than purchasing 12 separate miners, 12 power supplies and a miner controller, so it might be of interest to some larger scale miners as a ready to deploy solution it is even stackable.
South Korean cryptocurrency exchange Coinrail has unveiled its plan to resume service despite surrounding controversies. The exchange reportedly removed a key part of its terms of service right before it was allegedly hacked, arousing suspicions.
South Koreas seventh largest crypto exchange, Coinrail, reported that it was hacked on June 10. The damage is estimated to be around 45 billion won (~US$41 million)....
One of the worlds largest crypto cloud mining provider is offering Bitcoin cloud mining contracts again after a few months without the option to buy BTC cloud mining contracts. The new contracts do not seem to be that attractive price wise, even though they are for 5 years duration and will not get cancelled even if they become unable to pay for the maintanance fees for the duration of the contract. The most interesting thing here according to the company is the reduction of the maintenance fee to as low as $0.14 USD per THS per day for all new mining capacities as well as the ability to also mine natively Bitcoin Cash (BCH) with any purchased hashrate. You can easily check if this is a good deal or not for you if you run the numbers in a mining calculator. Unfortunately at the moment no other type of cloud mining hashrate is being offered such as DASH, Ethereum, Litecoin, Monero or Zcash. Do note however that current cloud mining offers are temporarily not available for US customers due.
The EOS Block Producers decision to protect users funds from theft by freezing seven accounts has crypto Twitter questioning EOS decentralized system
A blockchain-based app says its soccer model is going to predict the outcome of World Cup matches, allowing users to make informed decisions when betting #SPONSORED
The Tron price surged more than 17 percent on Tuesday amid reports that founder Justin Sun is now in the final stages of closing a deal to acquire peer-to-peer protocol developer BitTorrent. Tron Founder Justin Sun to Acquire BitTorrent for $140 Million Rumors about the acquisition had circulated for weeks, but several disputes including Continued
Bitcoin tweeted out to its 58 thousand plus followers that their hashrate has it another all-time high, experiencing a 15% increase in the last two weeks.
This recent jump and constant rise in hashrate over the past few months shows a consistent level of interest in mining the digital token, despite remaining below the important $8,000 price mark. The upside of this continuous increase in mining is that it results in increased competition between miners creating an ever-improving security of the overall network.
Bitcoin's hashrate just hit another ATH after a 15% increase from two weeks ago.
Bitcoin (@btc) June 18, 2018
The hashrate, in reference to cryptocurrency mining, reflects the number of tries a unit can make when attempting to solve one of Bitcoins computational puzzles. The mining units and large amount of electricity it takes to run and cool them add up to a substantial cost. As most miners work on a cost to mining break-even ratio the fact that the hash rate continues to increase, despite the decline in Bitcoins price for some analysts predicts the start of another bull session.
Naeem Aslam writing for Forbes commented on a similar situation in May;
From the data presented we can draw the conclusion that the overall outlook on Bitcoin is bullish, at least in the eyes of the miners. After all, miners would not want to allocate their resources mining a digital asset they believe to be worthless. Miners are in the business to make money and perhaps the downturn in this market will allow them to accumulate more bitcoin at lower prices in preparation for the next Bull Run.
Authorities in Cambodia announced that domestic investors are now required to get a license in the order to buy, sells or trade cryptocurrencies activities that could be otherwise regarded as illegal. In a joint statement signed on May 11 and published on Tuesday, the National Bank of Cambodia, The Securities and Exchange Commission of Cambodia and the General Commissariat of National Police said that the decision was made after detecting an increase in cryptocurrency trading within the nation. Suggesting that such activities will cause possible risks to the publics And society as a whole, the statement declares: Competent authorities clarify that the propagation, circulation, purchasing, selling, trading and settlement of cryptocurrencies without getting license from competent authorities is illegal activities.
The statement further says that failure to obtain a license for the above activities will be penalized in accordance with applicable laws. The 3 agencies go on to explain that participation in cryptocurrencies can bring investor risk rising From price volatility, cybercrime, and lack of consumer protections, further list several crypto projects including the alleged Ponzi scheme OneCoin as examples. To date it is not clear just what license needs to be applied for, or what will be necessary for successful application, but the requirement is likely to present a significant hurdle for investors. The joint announcement marks a notable widening of a ban issued by the NBC in December 2017 that prohibited domestic financial institutions from providing account services to cryptocurrency investors and traders, based on a previous report from Phnom Penh Post.
Since that time, cryptocurrency related projects like initial coin offerings and crypto trading activities continued to operate in a gray area, as regulators had yet to publish a clear legal framework providing clarity for users of the nascent technology. NBC image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The market valuation of Square, the multi-billion dollar payments company of Twitter CEO Jack Dorsey, surged three percent overnight after the company obtained the BitLicense from the New York Department of Financial Services (NYDFS) to operate as a cryptocurrency platform. BitLicense is Difficult to Obtain New York is considered to have the strictest policies and Continued
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Vietnam legislators approved a cybersecurity bill on June 12 putting tighter rules on tech companies from the start of 2019. Vietnam has been recognised as a potential hub for blockchain activity but doubts still remain over regulatory uncertainty.
The new bill requires tech companies to hold important personal data locally which means they will need to have a physical presence in the country. It also makes sweeping bans over using the internet in ways that may undermine the state or spread incorrect information.
Lieutenant-general Hoang Phuoc Thuan, director of the ministrys Cybersecurity Department, had spoken to major tech companies including Facebook in the run-up to the bill being passed.
He told VnExpress:
They said that this [law] was appropriate and that they will research to modify their companies strategies accordingly, and added, Providing customers data to security authorities is not a violation of privacy.
The cybersecurity bill was approved by 91% of attending legislators in the National Assembly but had raised concerns by MPs that it would lead to a violation of international commitments. It was also criticized on the basis that it would damage the right to free speech by restricting online content.
Clare Algar, Amnestys director of global operations, said:
With the sweeping powers it grants the government to monitor online activity, this vote means there is now no safe place left in Vietnam for people to speak freely. This law can only work if tech companies cooperate with government demands to hand over private data. These companies must not be party to human rights abuses, and we urge them to use the considerable power they have at their disposal to challenge Viet Nams government on this regressive legislation.
The Asia Internet Coalition (AIC) also said that the new bill is likely to restrict the growth of Vietnams digital economy. They highlighted the additional costs of placing data centers within the country.
After it chose to accept donations in five cryptocurrencies, the FPF received a lump sum of 1000 ETH on the first day
On June 18 the non-profit organization the Freedom of the Press Foundation announced people can now donate five different cryptocurrencies to the organization that supports free speech, whistleblowers and the freedom of the press. The foundation details cryptocurrency donations in BCH, LTC, ZEC, ETH, and BTC will help fund the various projects that promote freedom including its whistleblower submission system.
Buying, selling, trading and settlement of cryptocurrencies is now illegal without a license, according to a statement from Cambodian authorities.
A Portuguese software developer has created Poketoshi, a platform that allows users to play Nintendos popular Pokmon game on Bitcoins Lightning Network
Hollywood jumps on the cryptocurrency bandwagon with new movie thriller involving money laundering and digital currencies by Ken Schortgen, Jr, The Daily Economist TDC Note When all else fails roll out propaganda from Hollywood. Paint a picture, literally, that...
Blue Line Futures president Bill Baruch says that Bitcoins volatility is now at its lowest level in over a year, signalling a likely bottom in the near-term
The Financial Times has reported that profits for cryptocurrency hedge funds have taken a sharp decline, in direct correlation with the negative price action seen with the overall cryptocurrency market.
Hedge Fund Research, a reputable hedge fund analysis firm, has found that cryptocurrency hedge fund performance is down 35 percent in the first half of 2018 alone according to the FT. Despite posting an average gain of 45 percent in April, these hedge funds still declined in value over the other four months included in the HFR report. HFRs research specifically targeted hedge funds that allocated a majority of its assets towards investing in cryptocurrency and blockchain projects alike.
However, it has become clear that these hedge funds took some action to mitigate risk, with the whole cryptocurrency market dropping by over 70%, but hedge funds only losing 35% on average since the start of the year.
This may have been due to the fact that these hedge funds invest into other classes of assets, which are still linked to the cryptocurrency industry. Some of these investments might have included startups, ICOs, and long-established cryptocurrencies firms that still produce profits in a market downtrend.
Despite 2018s losses, the hedge funds analyzed were still profitable while looking at longer timeframes, with these funds increasing in value by over 2700% in 2017 alone. This staggering gain has been directly tied to the collective market cap of all cryptocurrencies, which rose by over 3000% in the span of 12 months.
Seeing immense volatility in this market has sparked fear, and hope, with different groups of investors and speculators.
Henri Arslanian, the go-to representative for cryptocurrency analysis at the popular Asia-based consulting firm, PriceWaterhouseCooper, has said:
I expect the crypto markets to remain volatile for the foreseeable future.
An absconding former Indian politician and lawmaker has been declared an offender by an Indian court after his involvement in a criminal kidnapping case complete with extortion in bitcoin. According to a report by the Indian Express on Monday, a local sessions court in Ahmedabad, a city in western India, has allowed a request by Continued
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The GPU mining industry is predicted to have another bumper year, it is clear to see that crypto mining has already forever changed video card production and distribution
The world loves football (or soccer) and crypto companies wont let the craze expire without tapping into it. Fans can now make predictions and place bets on a blockchain-based platform with a prize fund in cryptocurrency. Unfortunately, not only legitimate businesses, but also scammers have been trying to take advantage of the emotions surrounding the biggest sporting event on the planet. Check the details in todays Bitcoin in Brief and read to the end if you want to know why football is good for Telegram, too.
Regardless of the bearish chart installment, bitcoin (BTC)
climbed to a six-day high on Monday, putting a corrective rally to
$7,000 back on the map.
The leading cryptocurrency unexpectedly picked up a bid around $6,450 in 16:00 UTC yesterday and climbed to $6,850 the highest level since June 12, according to Bitfinex data.
The $400 rally can have trapped a few bears on the wrong side of the marketplace, given the pennant breakdown on the 4-hour chart had called to get a fall to $6,000.
Yesterdays gravity-defying cost action in BTC has fostered the odds of a rally to $7,024 (23.6 percent Fibonacci retracement of the sell-off from $9,990 to $6,108). Nevertheless, the long-run outlook remains bearish for the time being.
At press time, bitcoin is changing hands at $6,700 on Bitfinex.
As seen in the chart above, the 4-hour candle spanned the upper
Bollinger band in a convincing manner yesterday, signaling a
bullish Bollinger ring (standard deviation of +2 and -2 on
20-candle moving average) breakout.
Trading volume also picked up (circled on graph ), adding credence to the bullish move. At the mean time, the cryptocurrency has also discovered acceptance above the 50-candle moving average (MA) and the relative strength index (RSI) is biased bullish (above 50.00).
Therefore, BTC will likely clear the immediate resistance at $6,736 (yellow dotted line) and test supply around $7,024 (23.6 percent Fibonacci retracement of the fall in $9,990 to $6,108) at the next twenty four hours.
Its worth noting that the descending (bearish) 100-candle MA is situated at $7,045, signaling a key resistance level for the bulls.
The favorable Bollinger band installment also reinforces the argument put forward from the bullish price-relative strength index (RSI) divergence a week back that the cryptocurrency has discovered a temporary low at around $6,100.
BTC closed above the 10-day MA yesterday, invalidating the
immediate bearish outlook. Additionally, it created a bullish
outside-day candle on Monday (cost action engulfed Sundays low and
high) thats, the afternoon began on a pessimistic note, but ended
optimistically. Therefore, the probability that the corrective
rally will gather traction is elevated.
BTC looks set to take out immediate resistance at $6,736 and
rally towards $7,024 (23.6 percent Fibonacci retracement of the
fall in $9,990 to $6,108).
A daily close (as per UTC) above that level might open the doors to $7,500$7,600, even though the rally may be short-lived as the long-run technicals are still biased to the bears.
Bearish scenario: A sell-off to $6,000 could still happen this week, even if BTC closes (as per UTC) beneath the 10-day MA ($6,582) today.
Compass picture via Shutterstock...
A former Indian legislator who had been supposedly involved with a $1.3 million bitcoin extortion case has been declared proclaimed perpetrator by a local court. According to The Indian Express, a sessions court at Ahmedabad granted an application from the country Criminal Investigation Department on Monday to announce Nalin Kotadiya that an absconder from justice. According to Indian law, can currently be arrested by a resident and is banned from leaving the country. The decision comes following Kotadiya a former member of the Legislative Assembly failed to show up in court despite repeated summonses and following the CID couldnt hit him with an arrest warrant.
As mentioned previously By CoinDesk, Kotadiyas name surfaced when the CID began investigating the case wherein businessman Shailash Bhatt accused 10 policemen of extorting 200 bitcoin out of him by force in February. In accordance with A new report, Kotadiya is believed from the CID to have assisted the cops kidnap Bhatt. In an intriguing twist to the narrative, the CID can be accusing the apparent victim, Bhatt, along with An associate, Kirit Paladiya, of extorting around $22 million including money and over 2, 000 bitcoin at gunpoint from a member of BitConnect, an alleged bitcoin Ponzi scheme that reportedly closed in India in January.
Another report stated Bhatt had spent in the strategy. Indian police picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The man in charge of China's quest to research and deploy distributed ledgers outlines his view on the breakthroughs of bitcoin and potential of DLT.
Central banks have no love lost for Bitcoin and cryptocurrencies. Even though some positive things are happening, the overall sentiment remains predictably rather negative. The validity of cryptocurrencies and their decentralized technologies are still in question, especially by banks. It isnt the first time central banks feel the need for Bitcoin to have a central body giving the currency any real value.
A lot of people and institutions struggle with determining the value of Bitcoin. A decentralized form of money which isnt centrally issued or controlled poses many different challenges. Moreover, it also raises the question as to whether or not this form of money can ever have any tangible value. Although Bitcoin has a market price, it tends to fluctuate quite regularly.
For central banks, this is a clear indicator Bitcoin is too volatile. There have certainly been many ups and downs along the way over the past nine years. Every year, it seems there is a bearish trend prior to the Bitcoin price spiking upward again. Throughout 2018, that bearish trend has become very apparent, reducing the value of one Bitcoin by nearly two-thirds in the process.
Compared to gold, Bitcoin is a lot more volatile. At the same time, it is evident gold has also lost some appeal when it comes to investing, even though it is still a decent store of value. Some people have also attributed that label to Bitcoin, even though it is clearly too volatile to carry that burden. That said, the value of Bitcoin has held its own quite well compared to a year ago, as it is still quite a bit higher compared to June 19th of 2017. At that time, one BTC had a value of around $2,500.
One of the discussions that comes to the surface quite often is the lack of centralization in Bitcoin. More specifically, there is no central developer, company, bank, or government, responsible for maintaining the worlds leading digital currency. It is a very different take on the entire concept of money, and one central banks still struggle with today. Finance is, for banks, all about trust we have no choice but to trust them with our money. Bitcoi...
Bitcoin, Ethereum, and almost all of the top 50 coins by market capitalization are showing positive growth today
A handful of major Japanese exchanges including bitFlyer, Japans biggest and best-funded crypto trading platform, are facing business improvement orders from the countrys financial regulator and watchdog. A failure to comply with anti-money laundering (AML) guidelines will see at least five cryptocurrency exchange operators receive business improvement orders from Japans Financial Services Agency (FSA), a Continued
The post Flaws in Japans Biggest Crypto Exchanges Will See Regulators Warnings appeared first on CCN
What is a proud college dropout, world traveler, Ayn Rand devotee, and son of an international arms dealer doing artfully, doggedly defending bitcoin as a form of cash? Not even out of his 20s, Derek Magill is many times wiser than his chronological age lets on. In fact, hes arguably the most important apologist around when it comes to bitcoin cash (BCH). Through rational arguments, funny retorts, solid philosophical foundations, hes developed quite a following. Hes even started his own think tank, The Nakamoto Studies Institute, to document BCHs importance in monetary history. News.Bitcoin.com caught up with the troll slayer for an exclusive interview.
News.Bitcoin.com (BC): You waded into
litecoin for a while, hoping to find a crypto sans excessive fees
and mempool nonsense, right? I remember you posting a schematic or
something, explaining how it worked to your
Derek Magill (DM): Thats correct. I gave up on the cryptocurrency community not long after I got my first bitcoin in 2013. I bought bitcoin here and there over the years, but I never liked what I saw as indefinite utopianism in the space that kept me away from participating. The events leading up to Mike Hearns famous exit piece made me glad Id stayed out of it at the time. But I started getting excited again in early 2017.
Blockchain venture Cardstack just recently concluded a successful token sale reaching its cap of $35 million. The funding puts Cardstack in a strong position to pursue its goal of redefining the internets experience layer through blockchain and decentralization.
Cardstack seeks to challenge the dominance and control of techs major players over users internet activities. The centralized approach these companies apply to their apps and services create silos that result in fragmented user experiences. Often, users have to manage different accounts and subscriptions just to have access to the functionalities they need. Interoperability and integration across these applications are often lacking as well.
What Cardstack essentially offers is a decentralized application orchestration platform. It allows users to create customized workflows by linking various app functionalities and services together.
Chris Tse interviewed on Crypto Crow
While the concept is similar to orchestration services like IFTTT, Cardstack is able to tap into almost any data source including blockchain allowing users to accommodate the new technology into their workflows.
Instead of having companies dictate how a particular service should work, users are given the flexibility to create their own experiences. Functionalities like authentication, chat, collaboration, and payments are visualized as cards which users can stack together based on the conditions and rules they set.
For this to work, Cardstack is envisioned to be a complete ecosystem featuring the following components:
Cardstack Hub. The Cardstack Hub facilitates the orchestration functionalities. It sits at the layer between data sources and the user experience and is responsible for sending out commands and listening for changes from local, cloud, or blockchain data sources.
Cardstack Framework. A comprehensive standard development kit (SDK) is made available to developers allowing them to create their own decentralized applications (dApps). Various functionalities and features are to be developed based on open-source standards. This way, users and developers will be able to replicate and modify t...
A former Indian politician allegedly involved in a $1.3 million bitcoin extortion case has been declared a "proclaimed offender" by a local court.
The new chairman of the Malta Bankers Association thinks that blockchain could be a total game changer and that crypto will challenge banks roles as payment intermediaries
A lot of rumors are flying around regarding the Skycoin cryptocurrency. Some team members claim they were subject to a robbery. Those claims are met with a fair bit of skepticism. As such, the Skycoin team decided to cut all ties with its Chinese marketing team. It still raises a lot of questions regarding the future of Skycoin and its team.
Skycoin is a relatively new blockchain platform which recently completed its initial coin offering. To expand upon its presence, the team has set up marketing teams all over the world. One of its marketing branches can be found in China. It is this team, known as EVOLAB, which is at the center of the ongoing controversy. Its team members have been involved in some rather unique developments.
Based on the official teams response, an alleged robbery has taken place. Skycoin founder Synth and his wife were beaten, threatened and robbed. It is believed the culprits stole 18.88 Bitcoin and 6,466 SKY in the process. Nine individuals partook in this assault and robbery, including various Chinese marketing team members. It is a very odd situation which makes some people doubt how much of it is true. Even so, the stolen Skycoins have to be addressed somehow.
To solve that problem, the Skycoin team immediately froze the stolen funds. The fact such an action is even possible seems to indicate the developers have a high degree of control over the network. Even so, they could not prevent a massive SKY sell-off over the past two weeks. That in itself had nothing to do with the alleged robbery, but is the direct result of embezzlement. EVOLAB successfully embezzled 100,000 over the course of several months.
While these developments are taking place, it seems the Skycoin team has bigger fish to fry. While the developments are worrisome if true it also puts the entire project in an awkward spotlight. Developers having full control over the network, addresses, and transactions is very problematic. Albeit not unique to this project, it does indicate how centralized this ecosystem may turn out to be when it comes to market.
For now, all exchanges...
Japans financial watchdog is allegedly planning to induce improvements in a number of licensed crypto-currency exchanges on perceived problems with internal systems, such as anti money laundering measures. Based on a report by Nikkei on Tuesday, the nations Financial Service Agency plans to ensure complete compliance with current AML rules at bigger exchanges as their holdings of customer capital rapidly increases. The report indicates at least five exchanges, such as bitFlyer, Quoine, and Bitbank, are on the FSAs listing to receive business improvement orders this week. The report stated that, based on its current inspection, the FSA found that several licensed exchanges still dont have sufficient measures in place for spotting questionable transactions.
Further, the agency is also concerned that the companies havent recruited enough staff to keep up with the growing volume of transactions on their own platforms. Back in Apr, the FSA is already raising questions about what it considered a broadly forced credential verification process at bitFlyer, after which the company pledged it might strengthen its processes. The bureau also issued business improvement orders in March to a number of registered although lesser known cryptocurrency exchanges including GMO Coin and Tech Bureau as part of its review of crypto trading platforms following the $530 million Coincheck hack January.
And, earlier this month, the FSA gave its first license rejection to cryptocurrency trade FSHO after having issued two suspension orders into the company within its alleged failure to correctly execute security and AML improvements. The most recent movement by the FSA comes only days following a Japanese ego regulatory group for cryptographic exchanges suggested to strengthen their AML steps by banning member platforms out of record anonymous cryptocurrencies like monero and dash. Formed following the Coincheck hack, the Western Virtual Currency Exchange Association consists of important markets like bitFlyer, Bitbank and Quoine, and is chaired by Taizen Okuyama, Chief executive officer of bitFlyer. Japanese yen and BTC picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet which strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A new blockchain-based content rewards platform is rivaling Steemit by giving all users equal voting power boosting the earnings of smaller content creators #SPONSORED
The world still remembers the decade-old global recession that had the whole world reeling in shock. Many people and industries are still recovering today from the impact of poor management and corruption by some of the leading banking institutions. The severity of such an event is directly related to the number of people who are exposed to the banking and financial services, which in the present-day scenario is almost everyone.
The centralized institutions, along with the governments, have created a monopoly over banking and financial services, leaving people with no other way but to entrust their hard-earned money with them. But that doesnt end here as being customers they are also subject to the whims and fancies of these very institutions when it comes to accessing and spending their own money.
However, things are not going to stay the same thanks to cryptocurrencies. These digital currencies, most of which are peer-to-peer and decentralized, offer a way out for individuals and businesses to break free from the clutches of centralized financial institutions and gain true financial independence. Since the introduction of Bitcoin in 2009, the definition of financial services has gradually changed. The benefits of the underlying blockchain technology of cryptocurrencies have been widely recognized and even the financial institutions are exploring ways to leverage them for their advantage.
Cryptocurrencies are the store of value and can be used like regular currency for the buying and selling of goods and services. It is also an attractive asset that can be traded against other cryptocurrencies. The best part, one doesnt really need a financial institution to facilitate it. Unlike conventional financial infrastructures, the blockchain provides unprecedented levels of transparency, allowing crypto users to control and track their own funds.
In the past couple of years, a lot of new decentralized fintech services have come up, making banking and financial services accessible to everyone, irrespective of where they are and what they do. Cryptocurrencies have proven themselves to be the solution for the financial inclusion of unbanked and the underbanked. The ease of access and versatile nature of cryptocurrencies and their underlying blockchain technology has gained a strong following from the tech-savvy crowd, and the millennial generation is heavily invested in it. They see cryptocurrencies as a way to attain financial independence and financial liberation at the same time a view which is being shared increasingly by mainstream investors and traders as well.
Japans financial watchdog to issue business improvement notices to five registered exchanges, citing a failure to provide sufficient AML measures
EOS, an altcoin blockchain that was halted by a bug that prevented transactions two days after going live, has frozen seven EOS accounts that were subject to a phishing scam, according to a blog on a site called EOS42 on Steemit. Developers discovered the bug that caused the mainnet to pause unexpectedly on June 16 Continued
The post EOS Freezes Seven Accounts Following Mainnet Snafu appeared first on CCN
In Kosovo, Europes poorest country, there are few job opportunities for a population of which 50% are under 25 and most adults in the country wish to go abroad to work away from rampant corruption and cronyism. There is at least one positive asset though, cheap electricity. For a select few tech-savvy English speaking entrepreneurs who can pool together enough to invest in a rig, mining cryptocurrency has become a reliable source of income.
Cryptocurrency miners are rewarded for the investment of equipment and energy used to contribute to processing the networks blockchain with a digital token, Bitcoin being the most well known. This processing though is energy intensive and is most effectively done by large mining facilities set up in cold climates where electricity is also cheap.
China, Iceland, Russia and Canada have all been profitable regions to mine in the past. But as regulations limiting the legality of mining in China and concerns over excessive electricity consumption in Canada and Iceland have emerged, miners in Kosovo find themselves well placed to turn a profit in crypto. Though the price of Bitcoin is less than half today of what it was in late 2017 it is still possible to double the investment it takes to mine one Bitcoin in Sarajevo.
Possibly because the cost of electricity in Kosovo is the third cheapest in Europe at just 7 Euro cents per kilowatt hour compared to 19 in Britain. Although the cost of the graphics processing units (GPUs) needed to mine coins has gone up sharply, it is still possible to make a comfortable living in the countrys depressed economy.
One miner who spoke with Reuters news service said that he had partnered with three others in the capital city of Pristina to invest about 60,000 Euros to build a rig of 480 GPUs in a shipping container. The generates about 14,000 Euros monthly, minus electricity costs of around 5,000 and payments against the initial investment, his share is still better than what...
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
New Platform Digitizes The Socios Model, Fusing Crowd-Management With Blockchain Technology To Create A New Era Of Fan Engagement & Monetization In Football
Mediarex, the Malta-based, Binance-backed fintech and sports company, who recently raised more than $65 million through a private token sale for its blockchain-based sports platform, will launch the worlds first fan engagement and fan monetization platform for the football industry through Socios.com.
The ultimate fan engagement tool for the football industry, Socios.com is the worlds first scalable, tokenized voting platform where football fans can buy, trade and execute voting or crowd-manager rights for their favourite football teams. Powered by the chiliZ fintech platform and $CHZ token, chiliZ has committed $20 million to the Socios.com venture that will take football fan engagement into the mainstream.
The desktop and mobile platform, which is currently being developed for the booming esports industry, was originally inspired by the socios or fan-controlled management frameworks of many football teams around the world. Perhaps the best known examples are Real Madrid and FC Barcelona, which are run by their 90,000 and 145,000-strong fan base respectively, but they are by no means the largest indeed, that title goes to FC Bayern Munich, arguably the biggest and most successful example of this democratic/mutual management, with 290,000 affiliate fans. Portugals SL Benfica has 184,000 partners, while Sporting CP has 160,000.
The socios concept is tried and tested, and has created powerful relationships between the clubs and the fans for decades. Socios.com represents the digitisation of this framework, and the football industry will be encouraged to embrace new technology and fintech innovation. The fully mobile solution means fans will no longer be restricted by geography, with the ability to connect the 4 billion football fans worldwide to the 1000 UEFA clubs and 2300+ professional football teams in existence....
In recent regulatory news, the United States Office of Government Ethics has issued a document advising employees of the U.S. executive branch to disclose their cryptocurrency holdings. In other news, Bank of Korea has rejected the notion of central bank-issued digital currencies, Crypto Finance AG has received licensing from the Swiss Financial Market Supervisory Authority (FINMA), and France is expected to develop a framework for regulating initial coin offerings (ICOs) by 2019.
Japan's Financial Service Agency is further cracking down on what it considers lax compliance with AML rules at larger, licensed exchanges.
Bitcoin price jumped above the $6,500 barrier against the US Dollar. BTC/USD may continue to gain upside momentum above the $6,800 level in the near term.
There was a solid support formed above the $6,300 level in bitcoin price against the US Dollar. The BTC/USD pair started a key upside move and settled above the $6,500 resistance zone. There was even a close above the $6,500 level and the 100 hourly simple moving average. It opened the gates for more gains and the price moved into a positive zone above the $6,600 level.
During the upside move, there was a break above yesterdays highlighted crucial bearish trend line with resistance at $6,480 on the hourly chart of the BTC/USD pair. The pair even spiked above the $6,800 level and a high was formed at $6,808. At the moment, the price is correcting lower from $6,800 swing high. It is testing the 23.6% Fib retracement level of the last leg from the $6,328 low to $6,808 high. There may be a downside push below $6,680, but there are many supports on the way down. The most important support is the 50% Fib retracement level of the last leg from the $6,328 low to $6,808 high at $6,568.
Looking at the chart, the price is trading above $6,600 with a bullish formation. If there is a downside correction, it can be considered as a buying opportunity as long as BTC is above $6,500.
Looking at the technical indicators:...
The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review. South Koreas central bank isnt keen on issuing a central bank digital currency (CBDC) citing concerns related to its impact on the basic mechanics of monetary policy and implementation as well as Continued
The post A Moral Hazard: Bank of Korea Opposes Central Bank Digital Currency appeared first on CCN
Blockchain technology, which is the backbone to everything crypto and the key to decentralization, has the potential to be implemented in almost every existing industry to enhance security, information sharing, and transparency. Innovators in the tech sector predict its effects will be as far reaching as the development of the internet itself, yet the countries that would seem the obvious choices to embrace and develop the technology, US, UK, Japan, Korea are hindering its progress with regulatory red tape leaving some of the worlds smallest, autonomous regions open to welcome cutting-edge tech companies.
City-states with small populations and limited industries see tech companies with major financial backing as a path to future economic growth. While the tech companies get the kind of access to legislators and regulators that would be impossible to reach in countries like the US or Japan.
For instance, the tiny, mountainous micro-state of San Marino has gone into business with Estonian backed Polybius to create a ground-up ecosystem for blockchain innovation. In exchange for the companys financial investment, the government has given them complete support. Sergio Mottola, executive chairman of San Marino Innovation, was quoted in the BanklessTimes saying,
The Government of the Republic is willing to take the lead on this transformation and is superbly placed to promote digital innovation through the constitution of a forward-looking legislation and jurisdiction to favor the growing blockchain infrastructure.
Gibraltar, which already has links to two industries expected to be substantially affected by blockchain, financial services, and online gaming, is well suited for fintech companies to move in. The country is already home to multiple financial institutions familiar with anti-money laundering (AML) and know your customer (KYC) requirements that are becoming de rigor in the cryptocurrency space.
Among this group of ancient states, Malta far and away has opened itself up to companies seeking...
A group of hackers has allegedly colluded with computer maintenance companies in China to hack into computers owned by internet cafes to mine cryptocurrency. Based on A local news report on Saturday, police in Ruia city in Zhejiang province arrested 16 suspects that, it is claimed, have accumulated 5 million yuan by hacking more than 100, 000 computers in internet cafes across 30 Chinese cities since July of last year. The report said the hackers first developed a piece of malware that may specifically mine the siacoin cryptocurrency on a damaged device. They then marketed it to pc maintenance companies who supposedly helped inject malware into computers from internet cafes while carrying out routine checkups.
The profits made by mining and selling the siacoins would then be divided among the hackers and their alleged accomplices, the report said. The problem emerged in July 2017 when net cafes in Ruia began to notice their computers had become extremely slow, since the CPU utilization rate was frequently at 70 percent even following a restart. Notably, it was also in a time when the price of siacoin jumped by 400 percent from $0.002 in May to over $0.01 in July, data from CoinMarketCap shows. In the mean time, The utility bills of the affected net cafe in RuiAn also went up significantly during that period, the report said.
Later the owners reported the case to the local police. Since most internet cafes in Ruia have used the same computer maintenance firm, the police arrested the firms ceo in August, who later showed info on the hackers. Currently, the investigation is still ongoing, since the malware has now spread out across more than 30 cities in China, with over 100 computer maintenance companies within the country being allegedly involved. Internet cafe picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
NewsBTC recently got the opportunity to interact with Dmitry Nazarov, the Chief Executive Office of Genesis Vision. Excerpts:
NewsBTC: What is Genesis Vision all about?
Dmitry Nazarov: First off, Genesis Vision is an asset management platform, that uniquely unites all of the market participants into a single ecosystem.
If we were to describe what our platform is about; in broader terms, it would sound like this we believe that were creating a universal marketplace for people willing to monetize their trading skills, as well as investors, seeking a passive income. Its an open market of money-makers, so to speak. Just like Craigslist or eBay created services, that connected people willing to buy with people willing to sell, we are creating a service that would allow investors, who dont have the necessary skill or knowledge to carry out trading operations, to invest funds into skilled fund managers, all backed up by blockchain and smart contracts.
A basic premise in the theory of evolution is that species must adapt to a changing environment in order to survive. This holds true for companies as well as flora and fauna. We believe that we are creating the next logical step in the evolution of the asset management industry.
What benefits can traders and investors get from Genesis Vision?
We are creating a 360-degree solution that benefits all of the market participants.
Benefits for investors, except for obvious examples like passive income, include complete transparency, and an internal exchange, which gives an investor a level of control over their funds within the framework of an asset management module.
We seek to offer our investors not only everything, that a regular existing PAMM would offer, but more. Not only a skilled fund manager of your choice operating your funds but to also have the transparency and integrity, associated with the nature of blockchain technology.
As for managers, everything is quite simple as well. Apart from more funds to manage, which inevit...
While the thought may disappoint cypherpunks, the first step of a transition toward a true "money of the people" will be implemented by central banks.
Ethereum classic price is placed in a bullish zone against the US Dollar and Bitcoin. ETC/USD may soon break the $15.60 resistance for more gains in the near term.
There was a decent upward move initiated from the $12.50 swing low in ETC price against the US dollar. The ETC/USD pair moved higher and traded above the $13.50 and $14.00 resistance levels. There was also a break above the $14.50 barrier and the 100 hourly simple moving average. More importantly, there was a break above the 50% Fib retracement level of the last drop from the $16.50 high to $13.05 low.
The price is now placed nicely above the $15.00 level and the 100 hourly SMA. On the upside, there is a major barrier awaits near $15.60. A break above the stated barrier could push the price towards the next key resistance at $16.20-30. An intermediate resistance is at $16.00. At the moment, the price is correcting lower from the $15.50 high. It tested the 38.2% Fib retracement level of the last wave from the $14.01 low to $15.50 high. There is also a major bullish trend line formed with support near $14.40 on the hourly chart of the ETC/USD pair.
The chart suggests that the price remains well supported above the $14.50 level. On the upside, a break above $15.60 is needed for more gains in the near term.
Hourly MACD The MACD for ETC/USD is still in the bullish z...
The association comprising of 16 government-approved cryptocurrency exchanges in Japan has reportedly provided a sneak peak of its self-regulatory rules. The focuses are on banning insider trading and preventing exchanges from listing privacy coins.
The Japan Virtual Currency Exchange Association (JVCEA) has given a sneak peak of the draft self-regulatory rules it has been working on, in an effort to step up consumer protections and improve transparency, Nikkei reported on Monday. The main focuses of the new regulations are on insider trading and the trading of new currencies that cannot be traced easily, the publication detailed, adding:
The proposed rules explicitly ban insider trading. Word has leaked previously that a major exchange would start handling a new currency, which led to a surge in the currencys value and left many suspecting market manipulation. Such activity would represent a clear violation of the new rules.
Ripple price is back with positive moves against the US Dollar and Bitcoin. XRP/USD is now well supported above the $0.5300 level and the 100 hourly SMA.
There was a key support formed around the $0.5100 level in Ripple price against the US Dollar. The price formed a low at $0.5100 and started a nice upside move. It jumped above the $0.5200 resistance and cleared a few sell zones. During the upside move, there was a break above the 38.2% Fib retracement level of the last decline from the $0.5650 swing high to $0.5100 low.
Moreover, yesterdays important bearish trend line was broken with resistance near $0.5200 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.5400 level and the 100 hourly simple moving average. There was a test of the $0.5500 resistance zone where sellers appeared. A high was formed at $0.5523 before the price started a downside correction. At the moment, the price is testing the 38.2% Fib retracement level of the last wave from the $0.5100 low to $0.5520 swing high. On the downside, there are many supports near the $0.5300 level and the 100 hourly SMA.
Looking at the chart, the 50% Fib retracement level of the last wave from the $0.5100 low to $0.5520 swing high at $0.5311 is a decent support. Therefore, if the price continues to move down, it is likely to find bids near the $0.5300 level.
Looking at the technical indicators:...
A group of hackers have allegedly colluded with computer maintenance firms in China to place malware on internet cafe computers to mine cryptos.
Over the past 24 hours, the cryptocurrency market added $12 billion, as major cryptocurrencies including Bitcoin, Ethereum, Ripple, and Bitcoin Cash experienced a short-term corrective rally. Breathing Room, But Not Entirely Optimistic The Bitcoin price rebounded from $6,300 to $6,700, breaking a descending trendline since May 3, when BTC achieved $10,000. While it is too Continued
The post Investors Turn Bullish as Cryptocurrency Market adds $12 Billion in 24 Hours appeared first on CCN
The bears were caught napping and a small, but possibly short-lived, bounce occurred in the crypto markets a few hours ago. In what appears to be a single whale transaction, Bitcoin shot up $300 in a matter of minutes at 23.30 UTC. The short pump has resulted in a 4% gain on the day for Bitcoin which is currently trading at $6,730. As usual the other cryptos will benefit from this and Ethereum also clawed its way back over $500, up 4% on the day to $517. Most of the altcoins are in the green at the moment following days of downward motion from bearish selling pressure. Ontology and Tron are posting the highest gains in the top 25 at the time of writing.
Coinmarketcap is reporting an 8.3% gain for Ontology which makes it the leading altcoin of the moment. ONT is currently trading at $6.60 from $6.08 this time yesterday, over the past week it has regained all losses from a level of $6.67 this time last Tuesday. The monthly view shows a similar picture with ONT regaining losses from a 30 day low of $5.60 to trade at the same level it was this time last month. Against Bitcoin ONT is up 4.2% to 98360 satoshis from 94500 sats this time yesterday, on the week it has remained at a similar level trading at 97000 satoshis this time last week.
Ontology has ridden the wave initiated by the Bitcoin pump a few hours ago. A recent tweet announcing a partnership with Contentos will keep momentum going. According to the medium post the two projects will share their respective business expertise and work on blockchain research, application development, and community building. Ontology Global Capital will invest in Contentos, helping it use blockchain to reshape the content industry and continue to tap into the value of content.
Ontology (@OntologyNetwork) June 19, 2018...
Brave Software, the publisher of an open-source web browser boasting enhanced privacy features, built-in ad blocker, and built-in cryptocurrency (Basic Attention Token [BAT]), has commenced the trial phase of its ad program. Brave users who participate in the trial for the program will be paid a sum of BAT proportional to 70% of the companys advertising revenues in exchange for viewing ads.
Also Read: Six Alternatives to an Initial Coin Offering
Brave Software has commenced trials for its browsers ads program.
The company, which was founded by former chief architect and CTO of Mozilla, Brendan Eich, and former senior software engineer at Mozilla and former software developer lead at Khan Academy, Brian Bondy, claims that its browser offers a number of speed and privacy advantages over its competitors. Braves website claims that the browser loads pages up to two times faster than other browsers on desktop, and up to eight times faster of mobile owing in large part to its...
Ethereum price climbed higher above key levels against the US Dollar and Bitcoin. ETH/USD may correct lower, but dips are likely to find buyers above $500.
Yesterday, there was a solid support base formed near $483-485 in ETH price against the US Dollar. The price started an upside move and traded above the $495 resistance level. It opened the doors for more gains and the price even jumped above the $500 handle and the 100 hourly simple moving average. Additionally, there was a break above the 61.8% Fib retracement level of the last decline from the $526 high to $481 low.
During the upside move, there was a break above a major bearish trend line with resistance at $498 on the hourly chart of ETH/USD. The pair was able to find bids above the $510 resistance and it traded close to the $526 swing high. At the moment, the price is consolidating gains below $526. An initial support is around the 38.2% Fib retracement level of the last wave from the $481 low to $526 high. However, the most important support is near the $504 level and the 100 hourly SMA. It also coincides with the 50% Fib retracement level of the last wave from the $481 low to $526 high.
Looking at the chart, the price is trading with a positive bias above $504. On the upside, a break above $526 may perhaps push the price towards $540.
Hourly MACD The MACD is moving in the bullish zone.
The Chief executive officer Of Swiss financial services giant UBS Group AG endorsed blockchain technology in a meeting, suggesting that its nearly a must for business. Sergio Ermotti told CNBC on Monday that the technology might help companies become much more efficient, thus reducing costs for some operations. Generally, technology will assist firms free up resources, but blockchain particularly is a good way to increase these efficiencies. He said: Our business will continue to be under pressure, with regards to gross margins. It is no doubt. The only way you can stay relevant isnt just by being strong with regards to capital, with regards to products, the quality of the people youve, advice you give to clients.
You also need to be capable to price it correctly. Throughout the interview, Ermotti said that the blockchain technology may be as crucial and disruptive, and changing as regulation has been in the last 10 years. This isnt the very first time Ermotti has praised blockchain technology without similarly praising cryptocurrencies. During another interview with CNBC in October, he said he was much more bullish on blockchain than he was about cryptocurrencies specifically. His remarks echoed those of UBSs chief investment officer Mark Haefele, who referred to bitcoin as being dangerous last year, as previously reported by CoinDesk. Putting action to words, UBS is currently backing a blockchain based trade finance platform, Batavia, in partnership with IBM.
CoinDesk reported in Apr that the platform has conducted its first live cross border transactions with corporate clients. UBS image via Shutterstock. A leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Many predicted that finance would be among the first innovators in blockchain. Harvard Business Review concluded that education about blockchain is no longer lacking in finance as it is in industries like manufacturing, predicting well see finance projects finished first. Part of that statement is true. Manufacturing has indeed fallen behind in understanding blockchain, but Continued
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Bitcoin cash price is showing positive signs above $850 against the US Dollar. BCH/USD is likely to continue higher above the $900-910 resistance.
There was a test of an important support at $825 by bitcoin cash price recently against the US Dollar. The price found a strong buying interest and started an upside move above the $850 level. There was a break above the 50% Fib retracement level of the last decline from the $908 high to $825 low. It opened the doors for more gains and the price jumped further above $850.
More importantly, yesterdays highlighted key bearish trend line with resistance at $840 was breached on the hourly chart of the BCH/USD pair. The pair also traded above the $880 level and it almost tested the $900 level. A high was formed at $898 before the price started consolidating gains. An initial support is around the 23.6% Fib retracement level of the last wave from the $826 low to $898 high. There may perhaps be more downsides in the near term, but supports such as $880 and $850 are likely to prevent losses.
Looking at the chart, the pair is placed nicely above the $850 level. Therefore, there are high chances of an upside break above the $900 and $908 resistance levels. The next hurdle above $908 is around the $950 pivot level.
Looking at the technical indicators:
Cardano Price Key Highlights
Cardano appears to be gaining some traction after its channel support bounce and could aim for the Fibs next.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. This means that the selloff is more likely to resume than to reverse. In addition, the 100 SMA dynamic inflection point lines up with the channel resistance to add to its strength as resistance.
The 100 SMA also coincides with the 50% Fibonacci retracement level around 0.1900 while the 200 SMA is closer to the 61.8% Fib just past the 0.2000 major psychological level. This might be the line in the sand for the downtrend as a break past this could bring more buyers in.
RSI is on the move up to show that buyers have the upper hand and could push for a climb. Similarly stochastic is pointing up so Cardano price could follow suit. Once both oscillators hit overbought levels, though, selling pressure might return and lead to a drop back to support.
Cryptocurrencies got a fresh boost from the news that New Yorks FSA gave a license to Squares Cash app, which allows clients to trade bitcoin in the state. The app has 7 million active users based on its first quarter earnings call, which means a lot of potential liquidity and volumes for bitcoin.
Of course this type of news tends to spill over to other altcoins and Cardano could be strongly poised to take advantage. Cardano has been added by Bithumb to their list...
Blockstream researcher Andrew Poelstra's efforts to create a more private bitcoin aren't about extremes, but about protecting the everyman.
Bitcoin Price Key Highlights
Bitcoin price made a short-term upside break but still faces several upside hurdles before sustaining the rally.
Technical Indicators Signals
The 100 SMA is still below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This means that theres a good chance the selloff could still resume. This short-term moving average is also near the top of the channel to add to its strength as a ceiling.
Applying the Fibonacci retracement tool shows the next potential resistance levels where sellers could hop in. Price is currently testing the 38.2% retracement but might still pull up to the 50% level closer to the trend line resistance. The $7,000 major psychological level could also keep gains in check.
RSI is on the move up but nearing overbought territory to reflect exhaustion among buyers. Allowing sellers to regain the upper hand could lead bitcoin price to revisit the swing low or the channel bottom closer to $6,000.
Stochastic is still pointing up, though, so there may be some bullish energy left. If buyers are strong enough to push past the channel top, a test of the 200 SMA dynamic inflection point could take place next. From there, the swing high around $7,500 could be the next resistance.
Bitcoin price got a strong boost from news that New Yorks Financial Services Authority gave a license to Squares Cash mobile app. This allows its clients to trade bitcoin in the state, and the app reportedly has 7 million active users as of its first quarter earnings call.
The CEO of UBS said in an interview that blockchain will transform the cost base of the financial industry and is almost a must
Crypto Fund AG has been granted a license to distribute funds on behalf of qualified investors in Switzerland. The permission has been issued by the countrys financial market regulator, FINMA. The firm also seeks approval for another crypto-related service.
Crypto Fund AG, a Zug-based subsidiary of the Swiss Crypto Finance Group (CFG), has received a license to distribute collective investment schemes to qualified investors, Reuters reported. According to an announcement by CFG, this is the first time a crypto business is granted such permission by the authorities in Switzerland.
The Swiss Financial Market Supervisory Authority (...
A former Member of the Legislative Assembly has been declared a proclaimed offender in Bitcoin extortion case
Digital Dystopia Revealed Video We Are Change In this video, Luke Rudkowski of WeAreChange gives is joined by Max Igan where they discuss important topics on technology, including cryptocurrency, the internet of things, and the emergence of the social...
The CEO of UBS Group AG endorsed blockchain technology in an interview, suggesting that it is "almost a must" for business.
Crypto exchange Binance is backing the Malta Stock Exchanges program to support and mentor fintech startups and entrepreneurs
Brussels Airport has launched an application based on blockchain technology meant to assist in tracking cargo movement from ground handlers to freight forwarders. The application will work in conjunction with BRUcloud, the open data management platform of Brussels Airport that is hosted on the cloud. BRUcloud, which is based on the data technology of Nallian Continued
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Just recently news.Bitcoin.com reported on the Chainbet protocol created by the developer Jonald Fyookball, designed to add trustless betting features to the Bitcoin Cash network. Following the launch of this concept, the Openbazaar developer Chris Pacia messed around with the idea and completed the first on-chain atomic bet. Now, this week the Chainbet contributors Fyookball, Pacia, and James Cramer have extended the protocol to include multiplayer bets, auctions, and dice rolls.
The Chainbet protocol has been updated with some more complex trustless betting methods such as auctions,...
Current financial, social, and economic conditions in Africa have contributed to the surging popularity of cryptocurrencies on the continent.
For the over-the-counter (OTC) crypto trading platform Paxful, African customers account for almost $7.5 million in transactions per month. Interestingly, half of these crypto enthusiasts are under 30-years-old and either have a college degree or are studying towards post-secondary qualifications.
Ray Youssef, co-founder and CEO of Paxful, recently spoke with Finance Magnates and detailed why he believes that cryptocurrencies like Bitcoin are the key to empowering some of the worlds most financially alienated populations. Generally speaking, according to Youssef, interest in digital currencies is spurred by lower fees, increased transaction speed, safety, and currency stability.
We are on the verge of the peer-to-peer financial revolution and it is being led by Africa. When it comes to innovation in financial services, in many ways, Africa has an advantage over the so-called developed markets; the continent has an expanding middle-class that has already embraced innovation in banking.
Paxful was born when Youssef and his business partner, Artur Schaback, decided to turn their homegrown OTC Bitcoin exchange operation into an official company.
It was technically the same as LocalBitcoins, which is a solicit service and an escrow service. It wasnt localthere were no local trades allowed. It was like GlobalBitcoins. We focused on gift cards and helping the unbanked.
Youssef explained that his a-ha moment for Paxful came when he fielded a call from a woman who was trying to use her last $20 to buy Bitcoin. Without a bank account or credit cards, Youssef navigated her thr...
Statistics from leading job search platforms indicate that the demand for cryptocurrency and blockchain specialists in Russia remains strong. Most employers offering these vacancies are either IT companies or banks. The competition for crypto expertise is getting tougher, as the country is preparing to finally regulate the fintech sector.
Six candidates are currently competing for each vacancy in the Russian Federation, according to data collected by the Index Head Hunter platform, a project monitoring the labor market in the vast country. The ratio indicates a moderate level of competition among potential employees, which is favoring Russian employers. But is this the case in all sectors of the economy?
With a $50 billion market cap, Ethereum is the second largest cryptocurrency in the world. As it stands, development and adoption fundamentals are on point. Thats what advises our long term projection of the coin. In the short to medium term though, its likely that ETH would add on to its seven percent week over week losses.
Lets look at the chart
At almost 75 percent down from their ATHs, a lot of weak hands are out of the market. By all accounts, thats understandable. After all, most of these guys buying and selling at current prices are merchants or traders playing the market for some quick profit. What you should know though is the long term stand of blockchain, Ethereum as the genesis of smart contract and your investment style. All thing constant and as it stands, Ethereum is but a quality network. Then again, in the past week, there were some jolting endorsement from the SEC. Of course this is good news and its even better because Ethereum and ETH are truly decentralized meaning no one entity is set to rack in profits or arm twist the chain to their benefit.
Thats not the point though. Its mundane to say the least. On-chain development is what carries the day and we can point back to different metrics to support this assertion. One of them stands on decentralization which by itself is the genesis of blockchain. Ethereum has more than 17,000 full nodes across six continents guaranteeing security. And thats not inclusive of the 35 million addresses-and counting-registered on the network.
On the development front, Ethereum has one of the biggest developer community as 250,000 of them work via the EVM. We can gauge the activity on the network just by looking at the number of MetaMask users now at 1 million. Better still, the number of Truffle downloads is likely to exceed 600,000 by the end of the year. All these is the reason why Ethereum has an impressive 220,000 commits at GitHub and governments all over the world seeking to draw value from this community blockchain.
Richard Rick Hilton, chairman of Hilton & Hyland and father of American socialite and reality TV star Paris Hilton, is selling the $38 million Palazzetto mansion through a cryptocurrency auction. The 16th century mansion is located in Rome and has 11 bedrooms and 15 bathrooms. $38 Million Mansion for Sale: Bitcoin Accepted One lucky winner will get
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Needless to say, IOTA is the biggest loser in the last 24 hours tumbling seven percent and in the process dipping below $1.12 and triggering sells. However, when we take a wholesome approach, bears are likely to drive prices lower across the board in the coming days. As such, we should be watching TRX because of what happens after mainnet launches, Litecoin as it dangles at $90 and EOS due to their security lapses.
Lets have a look at the charts:
Its no doubt that the security of any blockchain takes center stage and EOSIO should be prioritizing theirs. We already saw that happening over the weekend following a bug that lead to a network freeze. This blockchain halt is technically meant to protect EOSIO blockchain from forking. Even though it could have been ideal if they had sorted this ASAP, the fact that it took five hours to resolve was a pain point for many.
On other fronts, DogeCoin CEO Jackson Palmer is criticizing EOS new requirement that newcomers should pay $3 for account opening. Its a no brainer, would inevitably hinder adoption exacerbating things at this time when EOS is simply the hardest digital asset to own.
Finally found a tutorial for creating an #EOS account. My suspicion was confirmed that another user must create an account for you, you can't start receiving EOS with just a pub/priv key pair. It costs about $3 to create an account, per the article.https://t.co/BVAhtTiYJb https://t.co/Pz34HTKxha
Jackson Palmer (@ummjackson) June 16, 2018
All things constant, our previous trade plan holds. However, considering the trajectory of pri...
By Vin Armani In the first hour Vin discusses key stories and insights related to freedom and cryptocurrency. In the second hour we welcome back...
A group of journalists who left The Denver Post over conflicts with the papers owner has joined a blockchain based startup that hopes to operate 1,000 publications this year, according to The New York Times. The former Denver Post staffers will partner with a startup called Civil Media Company, whose sole investor is ConsenSys, a
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The US Office of Government Ethics has instructed federal employees to report their holdings of virtual currency and transactions of certain investment assets
Bancor has announced today itll start a network of blockchain based community currency in Kenya. The new project is likely to combat poverty throughout the stimulation of local and regional commerce and peer-to peer collaboration. By utilizing the Bancor Network, disadvantaged communities in Kenya will be capable to create digital currency that may hold more than one balances in a connected way such that integrated currency can be exchanged for one another without needing a counterparty. Bancor will start the new currency by contributing capital from the proceeds of its $153 million token sales in 2017. In a correspondence with Bitcoin Magazine, Galia Benartzi, Bancors co founder, said, Bancor will serve as one of many donors in the program providing the initial capital to finance the token accounts contained within each one of the community currencies.
Additionally, Bancor will provide in form operational support, including technical and integration work, marketing and materials to obtain the currency distributed and operational.,The company will partner with Kenyan nonprofit foundation Grassroots Economics, who has experience developing community currency programs in Africa. Grassroots Economics founder Will Ruddick, whos also a newly appointed director of community currency in Bancor, will oversee the launch of the community currency from Nairobi. The team will utilize Bancor Protocol to enlarge the current paper currency system utilized local enterprises to reduce poverty and create stable markets. Ruddick believes that whenever communities have the same right as countries to create and manage currency, theyll unlock their full potential.,Kawangware and Kibera are the focal points of the pilot launch.
These communities, which happen to be the biggest slums in Kenya, will be utilized to circulate the currency by incentivizing clients to use it. Bancor expects that as more individuals in the community buy and hold the local currency, its market cap may increase, that will create more wealth and a higher buying power for the holders. Community members and supporters of the initiative may have the option to sell and buy the local currency Via the open source Bancor Protocol with any one of the popular cryptocurrencies or a major credit card. Before its partnership with Grassroots Economics, Bancor had established a comparable program in Israel. The aviator program, intended for mothers, was processing over 1, 000 daily transactions before activities peaked due to the difficulty of transferring wealth outside the community.
Crypto Heists Are On The Rise By Michael Kern Safe Haven This year is poised to go down in fame as the worst in terms of cryptocurrency theft, with cybersecurity firm Carbon Black reporting a whopping $1.1 billion in stolen or...
The fundamentals suggest hodling, what do the charts forecast?
Spanish banking consortium to introduce blockchain registration system for clients by the end of this year
A small Japanese village is turning to cryptocurrencies in an effort to bolster its economy. Nishiawakura a village of about 1, 500 individuals in Okayama prefecture in Japan has revealed his plan a week ago to launch a regional initial coin offering as a way to secure financing. The municipality, particularly, depends on forestry in support its economics about 95 percent of the city is composed of forest area, in accordance with the villages official announcement. Nishiawakura Coin will be issued by Nishiawakuras Token Economy Association. Whilst the launch date hasnt yet been released, some details about the coin can be found on its official website.
The village launched the effort after its leaders ICOs being widely used around the world by companies and non governmental organizations, Nikkei reported on June 16. Officials also took note that the country is moving ahead with the establishment of self regulatory rules regarding the blockchain financing model. In its release, the village quoted Yoichi Ochiai, a Japanese researcher and cryptocurrency writer, who claimed that future local governments in Japan will move away from centralization and make aggressive investments in ICO. This isnt the first example of municipal interest in ICO around the world. As previously reported by CoinDesk, the mayor of the Louisiana city of Lafayette broke the ICO to raise money.
Editors Note: Statements in this article have been translated from Japanese. Japanese yen image through Shutterstock. A leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
No need to beat yourself up if your cryptocurrency portfolio exhibited less than stellar performance in May. Even the professional traders employed by the big hedge funds active in the space have suffered double digit declines during the previous month.
Data provided by three different industry trackers reveals that crypto hedge funds achieved considerable negative growth in the bear market of May 2018.
The Eurekahedge Crypto-Currency Hedge Fund Index estimates the losses made by crypto funds to have been 11.66% during May, and 2018s year to date (YTD) performance to be -22.71%. Market analysis firm, Hedge Fund Research Inc. (HFR), estimates crypto funds to have suffered a decline of 15.48% during May, bringing the YTD performance to -33.3% per the companys HFR Blockchain Index. And the Cryptocurrency Traders Index of hedge fund data specialist Barclay Hedge shows that the performance of those it is tracking dropped by 19.09% in May, and down 34.57% YTD. The differences between the three benchmarks are due to each following a different number of funds.
The weak May figures are in sharp contrast to the strong rebound performance seen the previous month, as Eurekahedge reported an increase of in 52.83% and Barclay Hedge a similar 44.86% in April 2018....
Phillip Nunn, chief executive officer of Manchester-based investment firm Blackmore Group, is standing by his bullish prediction that the bitcoin price will reach $60,000 in 2018, according to BusinessCloud. Nunn, who also advises initial coin offering (ICO) projects, told the news outlet he believes the flagship cryptocurrency see both $6,000 and $60,000 this year. Speaking
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Bancor has announced
today it will launch a network of blockchain-based community
currencies in Kenya. The new project is expected to combat poverty
through the stimulation of local and regional commerce and
By using the Bancor Network, disadvantaged communities in Kenya will be able to create digital currencies that can hold one or more balances in a connected way such that integrated currencies can be swapped for one another without needing a counterparty.
Bancor will launch the new currencies by contributing capital from the proceeds of its $153 million token sales in 2017.
In correspondence with Bitcoin Magazine, Galia Benartzi, Bancors co-founder, said, Bancor will serve as one of several donors in the program providing initial capital to fund the token balances contained within each of the community currencies. In addition, Bancor will provide in-kind operational support, including technical and integrations work, marketing and hardware to get the currencies distributed and operational.
The company will partner with Kenyan nonprofit foundation Grassroots Economics, who has experience developing community currency programs in Africa.
Grassroots Economics founder Will Ruddick, who is also the newly appointed director of community currencies at Bancor, will oversee the launch of the community currencies from Nairobi. The team will use Bancor Protocol to expand the current paper currency system used by local businesses to reduce poverty and create stable markets.
Ruddick believes that when communities have the same right as nations to create and manage currencies, they will unlock their full potential.
Kawangware and Kibera are the focal points for the pilot launch. These communities, which happen to be the largest slums in Kenya, will be used to circulate the currency by incentivizing customers to use it.
Bancor expects that as more people in the community buy and hold the local currency, its market cap can increase, which will create more wealth and a higher purchasing power for the holders.
Community members and supporters of the initiative will have the option to buy and sell the local currencies via the open-source Bancor Protocol using any of the popular cryptocurrencies or a major credit card.
Over the weekend, transactions on the live EOS blockchain came to a complete yet temporary halt.
South Koreas central bank has said that it opposes the idea of issuing a central bank digital currency (CBDC). The news comes from the Bank of Koreas (BOKs) report about coins and the crypto-ecosystem, which looked at the possibility of issuing a CBDC and also how digital currencies might influence Koreas financial sector as a whole.
The reason the BOK opposes a CBDC is because issuing one would raise the basic mechanics of monetary policy and implementation, including the banks use of open market operations, according to The Korea Times.
Further, officials at the BOK say a CBDC will cost society and could cause a moral hazard. Also, issuing a CBDC could destabilize the market order because digital currencies dont currently constitute money, as per the BOKs definition.
We reviewed the possible feasibility of digital currencies as currency; however, our thoughts are that digital currencies have been exposed to various categories of risk associated with credit, liquidity and legal management, Kwon Oh-ik, a researcher at the bank, said in the report. Digital currencies dont perform as money.
Moving forward, the BOK said that it doesnt have plans to let private sector players issue coins, because central banks should have appropriate control over financial conditions. Put simply, the BOK dont want to share their powers of issue money:
Its desirable that the BOK is the only entity to entirely control issuing money, the report read.
The report also indicated that CBDCs may revolutionize the banking financial system, but before going live they would need to be thoroughly vetted and also accompanied by further regulation.
Technology improvements dont mean private sectors will be allowed to have the rights for money issuance. If this happens, the BOK should regulate them but properly, Kwon said in the report.
According to the financial authority, the BOKs focus with regards to digital currencies has been to protect the interests of consumers, seek greater financial stability, and attempt to prevent...
The Commodity Futures Trading Commission (CFTC) on Monday slapped JPMorgan Chase Bank with a $65 million fine for attempting to manipulate the value of a US Dollar benchmark index. JPMorgan Busted for Trying to Manipulated USD Benchmark According to the CFTC, JPMorgan traders repeatedly attempted to manipulate the US Dollar International Swaps and Derivatives Association
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When people talk about blockchain they often do so within the context of cryptocurrencies like Bitcoin and Ethereum. But the blockchain revolution isnt just about people being able to easily transfer money back and forth to each other without interference from banks or governments. The technology is advancing so rapidly that it is quickly being adopted by major corporations like Google and Amazon into a wide array of industries.
And, as Robert Galarza, CEO of publicly traded BLOCKStrain Technology (DNAX.V) explains in a recent interview with SGT Report, it is also being used for advanced medical applications related to genetics verification. In the case of Galarzas company, blockchain tech is focused on newly regulated marijuana markets in the United States and Canada, where systems to track and verify the genome of specific plants create total trust, protection and legitimacy for breeders, growers, and distributors in a market that has long operated in the shadows.
And with President Trump now considering lifting the Federal ban on marijuana and leaving States to create their own regulations, technology that protects consumers cant come soon enough.
With BLOCKStrain, users of marijuana, whether for medical or recreational reasons, will now have a way to ensure that the product theyre consuming is exactly what its supposed to be:
There are no standards and thats a scary proposition when youre looking at the biochemical and chemistry effects that this plant has when literally two batches of the same product from the same mothering plant can yield two separate products with different THC and CBD levels
The problem there is if youre taking it medically for example, sometimes there are people with heart conditions that get on a high level Sativa with high level THC and they can go into respiratory failures
There are a lot of factors that go into needing to make sure that you have even from a legal source.. an understanding of what youre putting in your body.
The black market in this industry taints a lot of product Thats a scary thing and that...
Payments company Square, a side venture of Twitter CEO Jack Dorsey, is the ninth firm to have obtained a BitLicense by the New York State Department of Financial Services. Bitcoin purchases first became available on its app in other states in January, but revenue has barely covered the costs in Q1 2018.
Jack Dorsey, co-founder and CEO of Twitter and avid cryptocurrency enthusiast, was able to obtain a license to operate virtual currency activities in the New York State for its other venture, mobile payments firm Square. Not many companies hold a BitLicense. Square became the ninth firm after the first being issued in September 2015 for Boston-based Circle, according to a report from Business Insider.
Blockchain remittance network Ripple was the runner-up, being granted a license in July 2016, followed by cryptocurrency exchange Coinbase in January 2017. Later that year, Tokyo-based bitFlyer obtained the fourth BitLicense and Genesis Global Trading was awarded the fifth in May 2018. Recently, the New York State seems to have become fertile ground for the issuance of charters as June 2018 saw Hong Kong-based Xapo being granted the sixth license just days before Square.
The New York State Department of Financial Services conducted a comprehensive review of Squares anti-money laundering, anti-fraud and cybersecurity policies, before providing the license. A BitLicense is required for any company whose business includes receiving, storing, holding or maintaining custody or control of virtual currencies. Buying and selling, as well as performing exchange services, controlling, administering, and issuing cryptocurrencies are also prohibited without the license.
Square, who sells devices for small and medium enterprises (SMEs) to accept credit card payments, has enabled users to buy and sell Bitcoin in its Cash App since January in a few U.S. states. Dorsey said the move had been a pretty contentious move within the company in a conference last month, where he explained that openness to Bitcoin remains a source of internal tension within the company. Its new Bitcoin offering channeled $34.1 million in revenue in Q1 2018, but the $33.9 million in costs left a narrow margin for profit. Its most rece...
Ukrainian authorities have arrested four people suspected of counterfeiting counterfeit crypto-exchanges, the nations federal police force announced Saturday. The National Police of Ukraine claimed in a news release that the suspects have been arrested for operating as much like six fraudulent cryptocurrency exchange platforms. Cybercrime officials are still looking at sites to determine how much money has been stolen from investors. The four suspects allegedly created web sites which imitated legitimate cryptocurrency exchanges, targeting investors which were intrigued in buying tokens. The suspects further asked the victims to transfer funds into digital purses registered under forged identification documents throughout the fake trading sites, in accordance with the police.
As part of the investigation, officials confiscated computers, flash drives, bank cards and mobile cellphones which were utilized by the suspects. Ukrainian police have begun criminal proceedings under Section 3 of Article 190 of Ukraines Criminal Code, according to statements. The move marks among the first important efforts of the country to protect their internal cryptologic ecosystem, following a previous movement to form a brand new working group to regulate cryptocurrencies, as previously reported by CoinDesk. During a January meeting, National Security and Defense Council chief Oleksandr Turchynov said that a lack of regulation around the technology is a threat to Ukraines economics and security. Ukrainian Flag image by Shutterstock. A leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Those working for the executive branch of the U.S. Government must reveal their encryption holdings, officials said Monday. In the legal council, published on Monday, U.S. Office of Government Ethics clarified that digital currency is property held , for investment or the production of income instead of a real currency or legal tender. Consequently, the OGE will now require executive branch employees to report holdings of digital currency because, as outlined later in the release, they might create a conflict of interests for employees who own it.. The requirement of disclosure is an important step requiring members of U.S. Executive branch officials working for the White House and also a galaxy of federal agencies at uncover their crypto holdings.
Earlier this year, a member of the U.S. Congress submitted a request seeking comparable requirements for federal lawmakers. The OGEs document also specifically makes mention of first coin offerings, or the sale of tokens prior to the launch of a certain network. Further, the reporting and conflict of interest principles set forth herein also apply equally to other digital assets, like Coins or tokens received in connection with first coin offerings or issued or distributed using dispersed ledger or blockchain technologies, the OGE wrote. Whilst document does not establish when the process started, the OGE suggested that he moved to carry out guidance because the government representatives have been increasingly seeking guidance from their ethics officers regarding their financial disclosure reporting obligations..
Notably, the OGE suggested that Mondays release might not be the final word on this issue. In the future, officials wrote, activities by other government agencies could put the boards into doubt and need further study. Given the evolutionary nature of the virtual currency, other regulatory agencies might Issue additional findings or guidance that offer Further information on how these assets should be treated for the purposes of the EIGA, the OGE said. Image via Shutterstock. A leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Square receives NYC BitLicense, New York Cash App users now able to buy and sell Bitcoin
The company Square announced on Monday the firm has been granted the Bitlicense from the New York Department of Financial Services (DFS). The firm and its Cash App are now legally allowed to operate and utilize cryptocurrency solutions in the state of New York.
Square, Inc. is a payment processor and financial services provider that was launched in 2010. The San Francisco based company was founded by...
Londons Trafalgar Studios is to play host to the first theatre production funded by Bitcoin. The play is titled Silk Road (How to Buy Drugs Online).
The show that was first conceived back in 2014 will premiere in August. It was written by Alex Oates and became the first production to receive funding in cryptocurrency. An anonymous backer contributed an unspecified amount of Bitcoin four years ago. This has allowed Oates to take the play to its first showing at the Edinburgh Fringe. This was followed by a second showing at VAULT Festival.
However, 2018 will be the first time that Silk Road (How to Buy Drugs Online) will have its own residency at a theatre. Londons Trafalgar Studios will host the production between August 7 and September 1. Just as with its earlier showings, Dominic Shaw will be directing the title this time around.
According to local news source the Standard, Oates is particularly excited about taking the production to a new venue:
Back in 2014, Bitcoin was a bit of a novelty so I couldnt be more thrilled that Silk Road (How to Buy Drugs Online), which was initially made possible through an anonymous donation of Bitcoin, is back with a run at Trafalgar Studios this summer. It seems clear that Bitcoin is here to stay and it was a great honour to be the first play funded by cryptocurrency it undoubtedly wont be the last.
The story itself is based around a young technology enthusiasts dealings with dark web drug dealers and gangsters. Bruce Blakemore is played by Josh Barrow and in his pursuit of an intriguing technology, he manages to get himself and his grandmother deep into the criminal underworld.
According to the Standard, the production of Silk Road (How to Buy Drugs Online) was inspired by the stories of real dark web drug vendors. Apparently, Oates has attempted to explore the impact of a completely unregulated internet through his work.
Productions such as this one highlight a Bitcoin maturing as the financial innovation moves further into public vernacular. Weve previously reported on the likes of The Ellen Gegeneres Show, as well as Conan...
As the cryptocurrency market develops and grows, cryptocurrencies have become the subject of an increasing number of securities lawsuits. This year alone, more than 10 cryptocurrency securities lawsuits have been filed in federal district courts throughout the country.
While regulations and laws governing the cryptocurrency market continue to develop, recent activity involving cryptocurrency has raised a host of questions concerning investor protections. As federal and state regulators and policymakers grapple with how to regulate digital currencies, some investors have sought protection through securities lawsuits.
Based on the number of lawsuits filed to date and the recent decline in the price of cryptocurrencies, such litigation will likely increase in volume in the coming year. Investors should be aware of recent cryptocurrency case law to safeguard their rights and preserve their legal remedies. A selection of recent securities lawsuits against five cryptocurrency companies is highlighted below to illustrate some of the typical cases in which investors have found reason to pursue legal action against cryptocurrency companies.
Longfin Corp., a global cryptocurrency company, was a pure stock scheme. On April 9 and April 19, 2018, two classes of investors sued Longfin and its top officers for allegedly violating Sections 10(b) and 20(a) of the Securities Exchange Act. The investors allege that Longfin misrepresented the location of its primary offices and the identity of key employees in its public statements; had numerous material weaknesses in its operations and internal financial reporting controls; and was ineligible for inclusion in certain stock indices.
The investors allege that when this information was made public, Longfins stock value declined more than 86 percent in two weeks. The investors are attempting to recover damages associated with the decline in stock value.
Takeaway: This case is an example of a cryptocurrency companys shares plummeting after company executives disclosed financial information to the public. Prospective investors should be wary of giving too much credibility to unsubstantiated statements made by cryptocurrency companies and should be selective when determining the trustworthiness of sources....
The U.S. Central Intelligence Agency (CIA) has neither [confirmed] nor [denied] the existence of information regarding the real identity of Bitcoin creator Satoshi Nakamoto, Motherboard reported June 14.
Motherboards Daniel Oberhaus, who mainly covers topics on physics, space, cryptocurrency, and the future of energy, submitted a Freedom of Information Act (FOIA) request to the Federal Bureau of Investigation (FBI) and to the CIA, requesting information regarding the identity of Satoshi.
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The chief executive of R3 is striking back at a recent report that the enterprise blockchain startup is hemorrhaging cash and is well on its way to bankruptcy. Writing in an official statement on the R3 blog, David E. Rutter said that the firm which has raised more than $120 million over multiple funding Continued
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When Blockchain Revolution came out, bitcoin was worth around $7
billion. Today, its more than twenty-two times that. Bitcoin is the
workhorse of the cryptocurrency world and the cryptocurrency that
launched a thousand ships.
So reads part of the preface in the newly-released second edition of Blockchain Revolution by the father-and-son team of Don Tapscott, founder and executive chair of the Blockchain Research Institute (BRI), and Alex Tapscott, founder and CEO of NextBlock Global, a digital asset company.
The first edition of Blockchain Revolution, published in May 2016, has been translated into 15 languages, is a bestseller in five Asian languages and remains Amazons number one selling book about blockchain technology.
Two years in the crypto world is a lifetime, so theres lots of catching up to do in the second edition which contains a lengthy preface with plenty of new material, including information about tokens (utility, security, natural asset and commodity), a whos who of the crypto world, leading companies in the space, instructions for leading crypto companies and their managers, and the leadership of nations.
Predicting a rosy future for bitcoin, the new edition notes that bitcoins impact on culture and the economy in the last two years has been extraordinary and points out that the remarkable price rise since 2016 means bitcoin has become an asset class too big for investors to ignore.
The attitude on the part of banks has changed since 2016 when blockchain good, bitcoin bad was the dominant ethics. Now even Goldman Sachs and JP Morgan are getting into the cryptocurrency market.
Noting bitcoins continuing success, the authors say:
With the launch of the Lightning Network and other scaling solutions in 2018, bitcoin may also fulfill the promise of its most ardent supporters and obliterate the need for traditional financial intermediaries.
The new second edition names 10 leadership nations who are best placed to lead the blockchain revolution and build the new innovation economy.
Alphabetically the countries are: Australia, Canada, China, Dubai (United Arab Emirates), Estonia, Singapore, Sweden (Stockho...
A blockchain-based gaming company is teaming up with a fantasy sports giant to offer free tournaments with a prize pool of $100,000 in crypto and $35,000 cash throughout the World Cup #SPONSORED
There are plenty of different opinions on cryptocurrencies. It is difficult to find the true metric to determine their success. According to the Bank of International Settlements (BIS), there isnt any real growth. In fact, BIS claims the performance of cryptocurrencies worsens as the currencies grow more popular.
It is a well-known fact how banks and financial institutions dislike Bitcoin. This trend became apparent many years ago and still remains in place today. Bar a few exceptions, it seems unlikely any overarching institutions will give cryptocurrencies the benefit of the doubt. For the BIS, that is quite visible as of right now.
In a recent statement, BIS confirmed they are keeping tabs on the performance of cryptocurrencies. More specifically, they have been tracking how currency growth correlates to performance. The current result is not all that great, according to BIS. In fact, its latest annual report claims how the lack of blockchain scaling hinders growth in this industry.
Furthermore, the institution also questions the finality of payments. In its report, BIS claims a cryptocurrency can simply stop functioning. A valid comment, especially where the smaller-cap currencies and tokens are concerned. When it comes to Bitcoin, Ethereum, and others, such developments remain highly unlikely.
BIS is also not a big fan of the mining aspect. The costly energy use associated with this process creates an environmental disaster. Such claims have been made in the past when Bitcoin was far less successful. Even so, it seems these drawbacks are not sufficient to hinder the growth of cryptocurrencies.
At the same time, the report makes no mention of Bitcoin mining using renewable...
Those working for the executive branch of the U.S. government must disclose their cryptocurrency holdings, ethics officials said Monday.
Japans self-regulatory crypto association will reportedly release guidelines on June 27th, banning insider trading and the listing of anonymous coins
Ukrainian authorities have arrested four individuals suspected of operating fake cryptocurrency exchanges.
South Koreas main bank has declared that it doesnt plan to launch its own electronic money over fears it might destabilize the economy. According to The Korea Times on Monday, the BoK said that issuing a main bank electronic currency could pose a moral danger by adversely impacting financial policy and its execution, and maybe cause instability in the marketplace as it efficiently doesnt function like fiat money. More than that, the Bank of Korea went up to state that digital currency dont function as money, in a brand new report. Whilst the main bank set out to examine the feasibility of utilizing digital monies as currency, our thoughts are that electronic currency have been exposed to several categories of risk associated with liquidity, credit that the BoK is the only accounts.
Looking more broadly, the unrestricted issuance of the traditional and electronic currency could bring social prices that the BoK is the only crucial that the BoK is the only thing to completely control the issuing of cash. The main bank is not completely negative on CBDCs, but must be thoroughly tested before being. Still, theyd must be thoroughly tested before being accepted. According to Yonhap, adding that the government personal issuance of electronic monies, according to Yonhap, adding that the government must sectors will be allowed to have the rights for money issuance subtract sectors will be allowed to have the rights for money issuance.
Technology improvements do not mean personal sectors will be allowed to have the rights for money issuance. The leader in blockchain news, CoinDesk is a media outlet that must govern them properly, Kwon said. The main leader in blockchain news, CoinDesk is a media outlet that. Korean won picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent subsidiary of the Digital Currency Group, which invests in cryptocurrency and blockchain startups.
The EOS network has barely processed its first blocks, but one blockchain researcher is already predicting that an as-yet-undiscovered vulnerability in the nascent cryptocurrencys codebase will lead to a massive exchange hack within the near future. Writing on Twitter, Cornell professor Emin Gn Sirer forecasted his belief that EOS, which launched last week following a Continued
The post EOS Vulnerability Will Lead to Massive Exchange Hack, Predicts Cornell Blockchain Researcher appeared first on CCN
The Malta Stock Exchange announced today that Binance, among the worlds leading cryptocurrency markets, is financing its newly established program to support fintech startups and entrepreneurs. Known as a very small archipelago between Sicily and the North African shore, Malta, along with a lot of other microstates including Bermuda, Liechtenstein, Gibraltar and San Marino, have joined the race in the latest years to pull blockchain and crypto businesses. The MSX Fintech Accelerator is targeted at creating an ecosystem to nurture and support crypto startups and entrepreneurs, in accordance with the Malta Stock Exchanges announcement. The accelerator provides professional business services such as in the house of accounting, payroll, and post space.
In addition to Binance, the stock market Thomson Reuters added to its own list of mentor organizations. Joseph Portelli, the president of the Malta Stock Exchange, said that the app has guaranteed easy access for both domestic and overseas businesses. Its clear that Malta is becoming a fintech and blockchain centre of excellence, added Portelli, following the announcement of the partnership. The markets official Twitter account tweeted this morning itll be accepting up to 12 Fintech startups to use the facilities from the recently established program. We moved our operations to Malta just because its demonstrated its progressive approach to encouraging and developing the crypto and blockchain market.
Malta is developing a secure and the legislated environment for the business to become reputable, bring businesses like ours and several others, Binance said in a statement. Picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Last summer, ICOs could do no wrong. But by 2018, the acronym had been relegated to the realm of the unmentionables, a place normally reserved for the most offensive cuss words and the name of Harry Potters antagonist, Voldemort. In many circles, ICO has become a dirty word. In its place has come a range of creative alternatives, each designed to improve on the model and nomenclature of the much derided Initial Coin Offering.
Whenever a new musical movement emerges punk; nu-metal; emo bands lumped into the genre rush to distance themselves from it. Something similar has happened with ICOs: everyones in them, but no one wants to admit to being in them. Instead, we have the spectacle of projects dressing their ICO up as a token generation event and other euphemisms.
Some of the alternative nomenclature is an attempt to avoid legal repercussions (You cant charge us with running an unregistered ICO if we didnt call it an ICO!), but more often its an attempt to avoid being tarred with the same brush as the scammy ICOs that have ruined the name for everyone. Then there are the crowdsales whose alternative name reflects a genuine desire to provide an alternative means of raising capital in which everyone gets a bite of the cherry. What follows is six alternatives to the tried, tested, and tired ICO.
Worth the trouble? The EOS mainnet is finally operational as the community elects a pool of Block Producers and overcomes a freeze
Crypto markets experience solid gains today, despite news of a scathing report on crypto from the Bank of International Settlements
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
The still young GINcoin cryptocurrency continues its ascension in the crypto market. With its rapid development, the project is ticking three important boxes last week: getting listed on Cryptopia, adding PIVX to the turnkey masternode deployment platform, and launching an all-in-one Investor Dashboard, where masternode owners can keep a close eye on all of their masternode investments.
PIVX masternodes can now be deployed on GINs masternode platform
Since its launch, the GINcoin platform has become the go-to utility tool for anyone looking to set up a masternode, regardless of their technological knowledge. By constantly adding coins to the platform, they enabled masternode enthusiasts to easily diversify their portfolio.
The team worked out a two-lane highway for listing coins on the platform: one focusing on the well-established projects in the masternode field, the other giving every coin available the opportunity to apply to be listed and afterwards being subjected to a community vote. The first one has led to its first major breakthrough, pushing GIN to reach an important milestone: the famous PIVX was just added to the platform.
Cryptopia listing trade pairs available are GIN/BTC, GIN/LTC, GIN/DOGE
GINcoin was launched in February of this year and has developed constantly ever since, by adding more and more altcoins to its masternode deploying platform (https://p.gincoin.io/#!/) and by growing in value steadily. The increase in daily traded volume and the boost of investors interest prompted the team to ensure that the coin was more easily accessible. Hence, the natural step to be made was to get the coin to an additional exchange Cryptopia...
Days after granting its sixth-ever BitLicense to cryptocurrency wallet Xapo, New York has approved fintech startup Square to operate in the state, enabling its users buy and sell bitcoin. The New York Department of Financial Services (NYDFS) announced on Monday its formal approval of Squares application for a virtual currency license, also known as BitLicense. Continued
The post BitLicense #7: New York Grants Another License to Bitcoin App Square appeared first on CCN
The Malta Stock Exchange announced today that Binance is backing the exchange's newly launched program to support fintech startups and entrepreneurs.
CryptoDredge is a new Nvidia GPU miner that we have recently talked about as it is offering one of the best Lyra2REv2 performance at the moment. It is a closed source miner that support the following algorithms: Allium, Lyra2REv2, Lyra2z, NeoScrypt and PHI1612 and requires Nvidia GPUs with Compute Capability 5.0 or newer (Maxwell or Pascal architecture). There is a 1% developer fee built-in, so make sure you are Ok with these before checking it out if you still havent and make sure to update if you are using the miner already, as it is quite interesting for people mining crypto coins using Lyra2REv2 and Lyra2z algorithms.
The government of the South Indian state of Kerala will use a blockchain system to improve the supply and distribution of dairy produce, vegetables and fish
The Freedom of the Press Foundation now formally accept donations made with cryptocurrencies, the nonprofit announced Monday. The movement is natural match to the organization, which aims to encourage journalists reporting on topics Within authorities, said Executive Director Trevor Timm. FPF that will currently take bitlock, bitcone cash, ethereum, litecoin and zcash currently has a digital purses available for direct donations. He said, even though the purpose is to finally use a payment processor to automatically convert donations into currency. Decentralized technology is an instrument which may assist in preventing on-line censorship, as well as to prevent surveillance by particular parties, according to Timm.
The decentralized nature of cryptocurrencies, particularly, can mitigate the potential risk of financial censorship by the comparatively small number of traditional payment processors that currently hold a monopoly on finance transfers, he said. Timm told CoinDesk: If cryptocurrencies might lead to more consciousness about censorship, and also do it simpler for potential supporters to encourage nonprofits like the Freedom of the Press Foundation, so I expect numerous other comparable organizations will follow suit in the coming months and years. . We are living in a time when journalists around the globe have never been at greater risk of surveillance, arrest, or worse, and it is incredibly essential that supporters of media freedom have all of the available options to them to fight .
He explained. Perhaps in recognition of the mission, blockchain startup Mainframe has already made the initial crypto donation, sending 1, 000 ether to the foundation. Timm explained that the funds would permit the FPF, which especially has NSA whistleblower Ed Snowden on its board, at enlarge its work, adding that it could even inspire others to donate . Newspapers and string image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Digital payments firm Square has obtained a BitLicense from regulators in the country of New York. The Business announced Monday that the NY Department of Financial Services given the permit. Square first signaled back in March that itd Submitted paperwork to get a BitLicense, a move afterwards confirmed by a spokesperson. DFS is pleased to approve Squares application and welcomes them in New York, expanding and well controlled virtual currency market. DFS carries on to work in support of a lively and the competitive virtual currency market that connects and empowers New Yorkers in a worldwide market whilst ensuring strong state regulatory supervision is set up, Superintendent Maria Vullo stated in a statement.
Squares bitcoin buying option through its Cash application first surfaced last autumn, after which the company began steadily providing access to a larger number of users. NY had, until today, remained a major U.S. Market where Square had yet to get permission to operate. The companys move into the crypto area has already demonstrated its worth, latest figures show. In May, Square reported that itd Booked a little profit on $34 million in crypto related revenue through is Cash app. Cash App image via CoinDesk. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
South Korea's central bank has announced that it does not plan to launch its own digital currency over fears it could destabilize the economy.
The different prices of bitcoin and other cryptocurrencies between countries and exchanges have led investors to seek arbitrage opportunities, a trend noticed by financial regulators around the world. Discussions are underway at the Japanese Financial Services Agency on restricting leverage.
Cryptocurrencies are traded in many countries with varying prices. The value of BTC in Zimbabwe, for instance, is currently 80% higher than in Japan. Hyperinflation has made bitcoin popular in the African country because many of its residents do not trust their own fiat currency.
In stock markets, investors cannot employ arbitrage be...
US Senate candidate Austin Petersen received a $130,000 bitcoin donation but was forced to return it due to federal regulations governing campaign contributions. Petersen, a Republican who is hoping to unseat incumbent Missouri Sen. Claire McCaskill during the mid-term election in November, said that an enthusiastic supporter attempted to donate $130,276 worth of bitcoins (~20 Continued
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Digital payments startup Square has received a BitLicense through the NY Department of Financial Services.
Anyone who stays in the crypto-space long enough begins to recognize the familiar mantras. Dont invest more than you can afford to lose. Were in the early days of the internet. Adoption is coming. Theyre all valid points, and currently the latter is being held back by lack of regulation and typical financial services, keeping Continued
The post Regulated Cryptocurrency Custody Will Bring in Big Money: Hedge Fund Manager appeared first on CCN
The Freedom of the Press Foundation has expanded its donation methods to include five cryptocurrencies, calling the move a "natural fit."
Asset tokenization platform TrustToken just raised $20 million in a strategic token sale with the aid Of major venture businesses, including Andreessen Horowitz. The startup announced Monday that the money raised in the financing effort, that was also backed by BlockTower Capital and Danhua Capital, will be utilized to continue developing its platform, which seeks to list different tokens back by physical assets, based on a news release. TrustToken has so far published such a token already a stablecoin called TrueUSD, in accordance with the release. In a statement, TrustToken chief executive Danny a said: . The support of those leading investment firms represent an important step towards our goal of creating a compatible tokenization platform for currency, commodity, and real world assets.
Well draw on the combined expertise and network of those Firms as we grow our business partnership and expand the scope of our first product, TrueUSD.. The funds will also help TrustToken enlarge its legal, production and engineering departments, in accordance with the release. Ari Paul, controlling your stresses Partner in BlockTower, spoke to the possibility of blockchain technology and numerous reasons for the investment in a statement, saying that tokenization of real world assets will produce value much in the same way that equitization did.. We may now buy the fractional property in a basket of commercial office buildings or commodity via equity instruments, he continued.
Tokenization will further reduce friction in asset trading and possession.. U.S. Dollars image via Shutterstock. A leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Decentralized market startup Origin Protocol is looking to expand its audience, as well as raise more capital, through a consistent symbolic sale. Announced Monday at a news release, Origin has set a target of $6.6 million to the offering, with SEC registered CoinList Capital behaving as investment advisor and issuing platform. Origin co creator Josh Fraser said that, more significant than the money, it will be an opportunity to cultivate its network with endorsement from CoinList, an AngelList spin off. The startup wants as many individuals to participate as possible, he told CoinDesk. Fraser continued. There is so many scammy projects out there, and so anything you may do to set yourself apart is like we said wed, he said.
Fraser noted that the basic question the provider is asking is whether or not open source protocols might replace not one, not two, but dozens of major businesses. We are creating a platform for sharing economics type marketplaces. Looking at how you are able to construct decentralized Uber, decentralized AirBNB these markets where people could use a blockchain to make peer-to peer marketplaces as opposed to utilizing giant corporations and monopolies, he said. Toolbox picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Japans SBI Virtual Currencies has added support for two major cryptocurrencies in addition to the one trading pair that its crypto exchange service, Vctrade, launched with. Users who pre-registered prior to the launch can now trade BTC, BCH, and XRP against the Japanese yen.
SBI Virtual Currencies, the cryptocurrency exchange subsidiary of one of Japans largest financial services groups, has announced support for two major cryptocurrencies. Starting Monday, June 18, customers can start trading BTC/JPY using the exchanges Vctrade service. This is in addition to the BCH/JPY trading pair which the exchange started offering on June 8.
Jeff Garzik, one of the earliest Bitcoin developers, has formally launched an altcoin, dubbed Metronome, which backers allege will be the first cryptocurrency to offer institutional class endurance. Metronome had first been announced by Bloq, Garziks blockchain development firm, back in Oct. 2017, when the cryptocurrency market was in the early stages of a parabolic Continued
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Bancor, the worlds largest decentralized crypto exchange, is launching a network of blockchain-based community currencies in Kenya aimed at combating poverty
Though Chinese authorities have previously taken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of Chinas remote parts according to a Nikkei Asian Review report. These regions enjoy excess electricity supply capacity and are considered poor relative to the economic powerhouses of Beijing and Shanghai.
The post Bitcoin Miners in Chinas Remote Regions are Undeterred By Restrictions appeared first on CCN
In the latest crypto mansion sell-off, Hilton and Hyland, the real estate firm chaired by Rick Hilton, the father of reality TV celebrity Paris Hilton, has announced that the sale of a 16th century Roman mansion will be conducted on the blockchain.
The historic property set in the center of Rome was originally designed by the architect Giacomo Della Porta who was a contemporary of and collaborator with Michelangelo. Known as The Palazzetto, the landmark home with 11 bedrooms and 15 bathrooms will be listed by California based Propy.com, a global property store, and decentralized title registry.
There were reportedly twenty home sold for cryptocurrency in 2017 and already more than that this year. Most notably a seven-bedroom Miami estate purchased with 455 bitcoins, an equivalent value of $US6 million. Rick Hilton commented on the planned sale saying The auction shows real estates growing trust in blockchain and provides crypto investors an opportunity to diversify and solidify their portfolio with a trophy asset,
The estimated sale price for The Palazzetto is $35 million which will make it by far and away the most expensive property to be sold for cryptocurrency and the most valuable listing ever handled by Propy which completed the first ever real estate sale for crypto in Ukraine in 2017. The company which calls itself the first international real estate market allows clients to purchase property online and uses blockchain technology to eliminate many of the hurdles encountered in cross-border transactions.
In March Propy became the first ever company to execute a US government sanctioned use of blockchain for a public service when it facilitated the sale and deed transfer of a home in Burlington, Vermont via the Ethereum network. CTO Alex Voloshyn was quoted at the time as saying,
Were ready to help US counties and other countries set up the blockchain registry for free. The developer program helps us accelerate the platforms growth and ultimately give more governments the chance to integrate their land registry on Blockchain
Decentralized marketplace startup Origin Protocol is looking to raise $6.6 million via a token sale with help from CoinList.
Who is the richest person in the world? Who said, It costs a lot of money to look this cheap? Where do they drink the most alcohol per capita? Ireland, Scotland, Russia or France? Readers who immediately answered just might be perfect guests on Dominic Frisbys Financial Game Show, launching in the United Kingdom. Prizes include standard fiat payouts, but the show is also offering prizes in bitcoin cash (BCH) and even silver bullion.
A recent announcement blogged by famed UK financial guru, Dominic Frisby, explained he is host and quizmaster in [a] classic gameshow full of fascinating financial facts. Contestants from the audience (willing volunteers only) can win big prizes including 500 in cash there is 500 to be won every show solid silver and bitcoin cash. Games range from higher-lower for house prices to to high-pressure quiz questions with the 500 jackpot at stake. Exciting, informative, amusing.
Dominic Frisby is a well known author on things financial, including Bitcoin: the Future of Money? (praised by no less than Sir Richard Branson). Hes also something of a television star, hosting very popular shows on financial literacy such as Lets Talk About Tax, blending both finance and humor. Indeed, he bills himself as the worlds only financial expert and comedian.
Bitcoin (BTC) is once more facing a fall to (or below) $6,000,
with short- and long-duration graphs being coordinated in favour of
The cryptocurrency found acceptance over the key resistance of $6,425 (Apr 1 reduced ) in the second 50 percent of a week ago, increasing the prospects of a corrective rally towards the $7,000 mark.
Further, while a drop to $6,000 following a bear flag breakdown on Friday seemed probable, losses were cut short at $6,300, signaling bearish exhaustion.
On the other hand, the leading cryptocurrency didnt find any takers over the weekend, leaving trading flat-lined over $6,500.
Courtesy of the fall from $6,573 (Sundays high) to $6,370 (todays low), the short duration charts have now turned bearish. In the mean time, the long duration graphs continue calling a bearish move.
As of writing, BTC is changing hands at $6,430 on Bitfinex down 1.3 per cent over twenty four hours and can be looking southwards.
BTCs fall to $6,370 earlier today confirmed a downside break of
the pennant a bearish continuation pattern suggesting the sell-off
from the top of $7,638 has declared.
Consequently, the cryptocurrency might slide to $5,820 (target as per the measured height procedure, i.e. the distinction between the pennant low and large subtracted from the breakdown price).
The moving averages (MAs) are also biased bearish, with the 50-candle, 100-candle and 200-candle MAs all trending south.
Further, the relative strength index (RSI) is struggling to grow above 50.00 (into bullish territory).
BTC stays trapped inside a declining channel, the RSI stays
below 50.00 (in bearish territory) and the 10-day MA is falling
The 5-week and 10-week MAs are losing elevation, signaling a
bearish setup and adding credence to the pennant breakdown.
The 10-week MA is about to cross the 50-week MA from over (bearish crossover) for the very first time since Sept 2015.
BTC will probably test $6,000 this week and could stretch losses
further towards $5,820.
On the other hand, a convincing break above $6,618 (resistance seen in 4-hour chart) would open up upside towards the 5-week MA, currently situated at $6,943.
Only a weekly close above $7,959 (50-week MA) would abort the long-term bearish perspective.
Dice picture via Shutterstock
The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Cryptocurrency volumes have dipped to a two-month low, with levels resembling those seen earlier this year during Aprils downtrend. But what does this mean for the market in general?
As of June 18th, exchange volume has collectively dropped under $10 billion dollars, with these levels being seen in early April.
The collective exchange volume is currently down over 80% since the large influx seen in early January, which topped out at a staggering $68 Billion in 24 hours. Tom Lee called this absurd amount of volume an abnormal figure, believing that Januarys volume should be of no comparison to todays volume.
Nevertheless, trading volume present with a specific asset, or asset-class, has long been held as a significant indicator of the markets interest in an asset.
With some critics keeping this ideology in mind, they have suggested that investors are losing interest in the industry, and quick too. Despite these fears, cryptocurrency and blockchain development is still at all-time highs, with countless institutions piling on to the cryptocurrency bandwagon.
Just last month, IBM announced that they are planning to create a cryptocurrency in collaboration with a carbon-credit startup. Seeing such a large technological player get its feet dipped into the cryptocurrency market has produced some bullish sentiment, as some predict that this cryptocurrency will reach wide-spread adoption as a carbon-credit alternative.
Additionally, regulatory fears have slowed as governmental bodies have eased their previously relentless pressure on the industry. Although these announcements have not caused the expected surge in exchange volume, some expect that volume has moved to the more secretive OTC exchanges.
Over-the-counter trading has become a reoccurring practice for larger institutions, which is a statistic CoinMarketCap does not register.
This may be due to the fact that most exchanges, whether large or small, do not have enough liquidity to su...
The seemingly banal enterprise applications for blockchain we're seeing, like food traceability, are actually a big deal and worth celebrating.
Authorities have admitted that the South Korean government had postponed the regulation of the cryptocurrency sector because it feared consumers will acknowledge it as the government legitimizing the cryptocurrency market. Government is Aware Regulation Will Legitimize Market Last week, CCN reported that the government of South Korea and its financial agencies including the Korea Financial
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TrustToken, which aims to put tokenized assets on a blockchain, raised $20 million in a strategic token sale with help from Andreessen Horowitz.
The Bank of International Settlements says crypto cant function as money, given it lacks scalability, stability of value and trust in the finality of payments
The company behind a new lightning fast protocol says it can process more than five billion transactions a day, all while offering low fees #SPONSORED
The cryptocurrency market has dropped by $5 billion over the past 24 hours, from $282 billion to $277 billion. Most major cryptocurrencies including Bitcoin have declined by 1 to 2 percent but did not demonstrate any major movement on both the upside and downside. Bitcoin and Ethereum outperformed the top 10 cryptocurrencies with a slight
The post Cryptocurrency Market Declines $5 Billion, Bitcoin Price Fairly Stable at $6,450 appeared first on CCN
Major Russian banks Sberbank and Alfa-Bank reportedly testing new crypto-based investment fund to include Bitcoin, Ethereum and Litecoin
The worlds largest blockchain insurance consortium will use Cordas R3 platform to build its upcoming products, the company announced Monday. The Blockchain Insurance Industry Initiative, The independent company founded by Allianz, Aegon and Swiss Re, and supported by AIG and AIA, will use the platform to advance a prototype reinsurance blockchain, in addition to use a smart contract system to reduce paperwork, based on a news release. B3i reasoned that the Corda platform offers the best blockchain alternative available, providing a firm Foundation for B3i to effectively deliver business value to its customers after a comprehensive review of available open source blockchains, in accordance with the release.
In accordance with the news release, complete integration of Corda nodes is likely be activated in professional and compliant IT environments which are utilized by B3is clients. R3 that is its own consortium of banking companies established the Corda platform in October 2017 and aims the technology at various kinds of businesses inside the financial industry, as previously reported by CoinDesk. R3 CTO Richard Brown said in a statement that were delighted that B3i has selected Corda as its preferred platform and our engineering team is looking forward to working closely with the excellent team at B3i to bring their innovative solutions to market. Toy train tracks picture via Shutterstock. A leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The U.S. Department of Homeland Security has awarded a grant of $192, 380 to blockchain project Factom to support beta testing of a stage aimed to procure data from Border Patrol cameras and sensors, the agency announced Friday. The early stages of Factoms work has educated architecture selections and design decisions inherent in integrating blockchain with existing technology, said Anil John, Identity Management Research and Development Program Manager in the DHS Science and Technology Directorate, in a news release. In Phase IV, Factom will deploy this technology in a realistic field environment with Customs and border protection to comprehend its operational impacts.
Factom, a Texas based startup, is working on a technology that incorporates data gathered by the detectors and cameras on a blockchain, securing the data and removing a chance to spoof, alter or interrupt it, in accordance with the release. Factoms product is going to be tested in an environment with limited online connectivity and changeable weather conditions to gauge its performance in a live border patrol scenario. The capital is a 4th tranche of a subsidy granted to Factom by the DHS in the span of its Silicon Valley Innovation Program, which permits technology companies to employ for $800, 000 in capital over a 24 month period.
Currently 23 businesses, such as Factom, have been in process of creating their solutions to DHS with help from its own licenses, incorporating technology like The Internet of things, unmanned airplane systems, cybersecurity solutions for financial services, international travel evaluation systems, airport passenger transport and wearable technologies. As mentioned by CoinDesk, Factom received $200, 000 from the DHS in 2016 to start developing the current project. The Factom bit is much more along the line ofthese devices exist, but how do we build an image of the individuality of this device with time? . The blockchain might be the catalyst that allows us to document the modifications, John clarified.
Factom has made many successful fundraising efforts within the last 3 years, raising $1.1 million in the cup in 2015 and after that, later that year, $400, 000 in seed funding. October 2016 saw $4.2 million raised, followed by more than $8 million in an elongated Series A round last April. CCTV image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The stories covered in todays edition of Bitcoin in Brief hail from all across the globe. In New York a major cold storage company has received a Bitlicense, in China there are new signs of crypto mania, and in Turkey bitcoin has made an appearance at a historic Istanbul market.
The New York Department of Financial Services (DFS) has announced it granted a virtual currency license to Xapo, the company providing wallet, cold storage, and bitcoin-based debit card services estimated to hold around $10 billion worth of BTC. With the Xapo approval, DFS has in total approved eight firms for virtual currency charters or licenses.
The regulator says it has conduc...
Bitcoin will likely drop below $6,000 this week, with bearish indicators still littering short- and long-term charts.
One of 17 institutions chosen for Ripples $50 million academic pledge, the University of Texas at Austin will receive $2 million from San Francisco-based industry giant Ripple. The McCombs School of Business at UT will receive $2 million from Ripple over the next five years to fund research at the institutions Blockchain Initiative program, a Continued
The post Ripple Donates $2 Million to Texas Universitys Blockchain Initiative appeared first on CCN
Source: Economic Collapse Blog | by Michael Snyder
On Monday, another shot was fired in the war. Wells Fargo formally announced that their customers would no longer be permitted to purchase Bitcoin and other cryptocurrencies with Wells Fargo credit cards
Wells Fargo customers can no longer buy cryptocurrencies such as bitcoin on their credit cards, the company announced Monday. But they can still buy firearms.
The San Francisco-based bank joined some of its Wall Street peers in banning the purchase of cryptocurrencies on credit cards and said its decision is "in line with the overall industry."
Of course this follows decisions by virtually all of the other major credit card companies to ban cryptocurrency transactions as well
J.P. Morgan Chase, Bank of America and Citigroupannounced in February they would no longer let customers buy cryptocurrencies using credit cards, and like Wells Fargo cited credit risks and market volatility.
Capital One Financial said it has decided to ban cryptocurrency purchases with its cards, and Discover Financial Services ha...
The music industrys business model has always been broken. For over 100 years artists have been paid a fraction of the earnings their music makes. Take Enrico Caruso, an Italian opera singer from the early 1900s, credited with being one of the very first recorded artists. Over his lifetime he made over 488 recordings, almost exclusively for Victor, a record label now known as RCA and owned by Sony Music. While it is said that this made Caruso extremely rich, netting him nearly $2 million, his label scooped nearly twice that and is still making money from his recordings today.
Many think the golden age of vinyl and CDs was a time when artists were fairly compensated, but even then musicians werent exactly raking it in. A report suggests that, when records were still popular, of every $1,000 of albums sold, 18% went to the musicians, 63% to the record label, and 24% to distributors. Meaning each artist got a grand total of $23.40.
Then along came the Internet.
Times They Are A-Changin
According to The Economist, back in 1997 Amazon CEO Jeff Bezos was looking for online retail opportunities. He considered selling music, but quickly realised there were only a few major music labels, and they would have the power to stifle any online venture that presented serious competition.
The first online music sharing service, Napster, bypassed the record labels altogether and facilitated free peer-to-peer sharing of compressed music files. Obviously that didnt work out for them, and it wasnt long before Napster found itself facing litigation from all angles. The company was closed by court order in 2001, after less than three years of operation. The Napster brand only survived because the companys assets were liquidated and purchased by other companies through bankruptcy proceedings.
So what changed to make online streaming services a viable business mod...
Despite the market downtrend, Binances team has forged ahead to ensure that its consumers are having a great experience using the exchange.
Airdrops have historically been a touchy subject for cryptocurrency exchanges, as claiming airdrop tokens can often require exchanges to give up some wallet security. As well, logistically setting up the support for airdrops may not be worth the time for some exchanges, as exchanges do not directly benefit from this process.
However, Binance has taken the initiative to support three airdrops from the recently launched EOS mainnet, pleasing many users in the process.
For the time being, Binance will only be supporting the IQ, DAC and EON airdrops, three of the most notable projects launched on the EOS blockchain. EON withdrawals have just opened, allowing for users to move their airdropped EON to their personal EOS wallets.
However, Some users took this announcement the wrong way. A blog post made it clear that support for these cryptocurrencies will only consist of withdrawal support and not trading, saying:
For trading and listing of these airdropped tokens on Binance, each project will go through the same strict listing review process as Binance does for any other coin/token. The default position we have is no listing.
Despite the misunderstanding, the announcement was still well received by the community, with many users giving their thanks to Binance for accepting these airdrops. Airdrops essentially provide users with free cryptocurrencies, which can rack up value quickly.
Binance has yet to open up withdrawals for EOS mainnet tokens, weird considering that EON token withdrawals are now available. But it has become apparent that the exchange will continue to support the EOS mainnet, by continually supporting airdrops launched in the future.
Binance has announced that they will be reinstating the community coin of the month, which allowed for users to vote and propose coins/tokens they think should be added to an expansive lineup.
It has been over 3 months...
The Department of Homeland Security has awarded a grant to blockchain project Factom for live testing a platform for securing camera and sensor data.
Espaol Heres what happened this week in Bitcoin in 99 seconds. The US Securities and Exchange Commission stated that they dont consider Bitcoin or Ethereum as securities, renouncing any claim to oversight of these coins. However, the SEC regards the majority of ICOs as securities, and thus within their regulatory scope. ICOs will [...]
Bitcoin price is still struggling to gain pace above $6,600 against the US Dollar. BTC/USD is likely to hold the $6,325 and $6,230 support levels in the near term.
This past week, there was a decent bounce from the $6,130 level in bitcoin price against the US Dollar. The BTC/USD pair traded above the $6,500 and $6,600 resistance levels. However, sellers successfully defended the $6,700-30 zone. As a result, there was a downside reaction and the price declined below the $6,660 pivot level. There was also a break below the 50% Fib retracement level of the last wave from the $6,122 low to $6,731 high.
The price even settled below the $6,500 level and the 100 hourly simple moving average. However, the price was able to hold the 61.8% Fib retracement level of the last wave from the $6,122 low to $6,731 high. There are many important support levels on the downside such as $6,325 and $6,230. As long as the price is above $6,230, it could make an attempt to move higher. On the upside, there is a significant bearish trend line formed with resistance at $6,500 on the hourly chart of the BTC/USD pair.
Looking at the chart, the price has to move past the trend line resistance, $6,500, and the 100 hourly SMA to gain upside momentum. A close above $6,500 may clear the path for a push towards $6,700.
Looking at the technical indicators:
A financial institution operated by the worlds central banks is taking aim at cryptocurrencies, questioning their capability to deliver on their promise at a brand new report published Sunday morning. A document called Cryptocurrencies: looking beyond the hype and released from the Bank of International Settlements, explains the story behind the technology and analyzes if it can actually developing a trustless form of money. As previously mentioned, the release computes the organizations total annual economic record, that will be published next week. Citing hard drives, mining concentration, the proliferation of new cryptocurrencies, volatile markets and scalability as problems with cryptocurrencies at present, the banks report concludes that the decentralized technology of cryptocurrencies, yet complicated, is a poor replacement for the strong institutional backing of money .
Additionally, the bank asserts that utilizing a blockchain to process the amount of retail payments made daily could bring the world wide web to a halt. The report clarifies: To treat the number of electronic retail transactions currently traded with selected national retail payment systems, even under optimistic assumptions, the size of the book would grow far beyond the storage capacity of a typical smartphone in a few days, beyond that of a typical personal computer in a matter of weeks and beyond which of servers in a matter of months . Beyond the storage capacity, the report asserts that only supercomputers possess the processing power necessary to conduct each retail transaction on a blockchain, and even when there were adequate supercomputers to create a decentralized network, millions of users exchange documents on the purchase of a magnitude of a terabyte. .
This massive communication volume is what would affect the world wide web, in accordance with the report. The report also takes pictures from the miners, noting that bring in. Hinges on a set of assumptionsthat sincere miners control a huge network of computing power, that consumers affirm the history of all transactions and the source of the currency is predetermined by means of a protocol . Whilst the BIS was brutal on cryptocurrencies, it saw distributed ledgers more positively, writing the underlying technology could have claim in other fields. . Distributed ledger technology can ease cross border payments, as well as aid market fields where the advantages of unrestricted accessibility transcend the higher operating cost of maintaining several copies of the ledger. .
Nevertheless, the report finally noted that research in others technology to do the very same goals as a dispersed ledger is ongoing, and it isnt clear that may emerge as the most effective one. . Match on fire image via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic stan...
The government of Kerala, a state in South India, is turning to blockchain tech to organize the supply chain process of everyday groceries. The new project will specifically look to streamline the supply chain networks including distribution of milk, vegetables, and fish in the state using blockchain technology, the Press Trust of India Continued
The post Indian State Kerala to Put Milk and Fish Supply Chains on a Blockchain appeared first on CCN
The EOS mainnet had to take a quick breather yesterday, with an unexpected bug causing its blockchain to come to a full stop.
EOS New York stated that the blockchain paused at 9:56 UTC, which immediately triggered a knee-jerk response from all active EOS Block Producers. The block producers along with standby nodes quickly jumped into a conference call to help identify and amend the issue.
After almost an hour of discussion, members of the conference call decided that it would be best for all standby nodes to temporarily disable their nodes, while still backing up vital information.
Eventually, the group of determined individuals found the cause of the problem, declaring that they were working on a fix. After almost five hours of work, the EOS chain resumed, allowing for transactions to go through at 14:48 UTC.
The #EOS Mainnet is live again and no data (irreversible transactions) are lost. Excellent response from block producers and block one to find the root cause & fix within a few hours.
EOS Authority (@EOSauthority) June 16, 2018
Despite the quick response, users still felt an almost five-hour downtime, expressing their anger and disbelief on this projects native subreddit.
Reddit user, SonataSystems, jumped on the fact that such a bug exists, saying:
Is there a realistic (real world configuration/load) testnet to put these patches through a strong, regressive gauntlet prior to release? Are they just chucking untested code over the fence? Just how much test coverage is there, and how much regressive testing is performed, where is it performed and by whom?
This isnt the best sign for a brand-new cryptocurrency project, as the downtime deterred thousands of transactions, if not more.
Cardano price failed to move higher and declined against the US Dollar and Bitcoin. ADA/USD is likely to extend the current decline towards the $0.1505 level.
This past week, there was a minor upside recovery from the $0.1460 swing low in ADA price against the US Dollar. The price climbed above the $0.1500 and $0.1600 resistance levels, but it failed to hold gains. A top was formed around the $0.1740 level before the price started a downside move. It declined and broke the $0.1650 and $0.1600 support levels to settle below the 100 hourly simple moving average. There was also a break below the 50% Fib retracement level of the last wave from the $0.1462 low to $0.1746 high.
At the moment, the price is trading well below the $0.1650 level and the 100 hourly SMA. It is testing the 61.8% Fib retracement level of the last wave from the $0.1462 low to $0.1746 high. A break below the $0.1550 support level may well call for more slides towards the $0.1505 level in the near term. On the upside, there is a crucial bearish trend line forming with resistance at $0.1600 on the hourly chart of the ADA/USD pair.
The chart indicates the price could extend declines as long as it is below $0.1650 and the 100 hourly SMA. The most important support on the downside is at $0.1505 where buyers may put to test.
Hourly MACD The MACD for ADA/USD is placed nicely in the bearish zone....
Blockchain insurance consortium B3i announced Monday it would use R3's Corda platform to develop its products.
In recent regulatory news, the Shapeshift co-founder and chief operating officer, has given a damning appraisal of the current regulatory climate surrounding cryptocurrencies in the United States. The president of Germanys Federal Financial Supervisory Authority, Felix Hufeld, has indicated that the principal concern of German regulators regarding cryptocurrency will be seeking to ensure financial stability, rather than concerns pertaining to individual investors. The U.Ks Financial Conduct Authority has published an open letter to the CEOs of businesses offering services related to cryptoassets regarding financial crime risks associated with virtual currencies.
Also Read: EOS Has Issues
An independent vlogger posted a video on Reddit about why hes still bullish on crypto. In the video the vlogger names six points to keep in mind about the health of the space as networks continue to grow, clarity comes in to being and crypto attracts the best and brightest minds from both the tech and financial industries.
Most traders havent made a lot of money in 2018 as the market correction that put an end to the 2017 bull run lingers on and the price of Bitcoin has wavered between $6 and $9,000. Despite the industry oracles who are even now calling for Bitcoin to reach outlandish numbers by the end of the year what this vlogger, who posts as u/undertheradar48, focuses on is the security of the system. As he states in his video in the last month there has been a 300% increase in the bitcoin hash rate, meaning that more people than ever are mining the coin, meaning that ledger is larger than ever and therefore the system more secure.
Beyond the hash rate and estimated $100 billion dollars u/undertheradar48 tells his audience is locked up in Bitcoin he touches on something even more important. That 9 years in, the Bitcoin network is still alive and growing despite naysayers and pundits from the financial world hammering the press with statements calling it Rat Poison and a Ponzi scheme and government agencies waffling on laws and regulations that would give legitimacy.
As the video points out the Bitcoin network has grown bigger than anyone at the start could have imagined and so is the Ethereum network growing at an unprecedented rate. As he states there are more people downloading the Ethereum developer program Truffle today than there were during the networks price peak back in January. The number he quotes which seems to have come from a Consensys article is 50,000 new downloads per month which if projected through to the end of the year means an additional half a million developers working on the Ethereum network.
These estimates got the poster a lot of flack from his...
The Bank of International Settlements harshly reviewed the idea of cryptocurrencies, though it was more accepting of the idea of distributed ledgers.
Ripple price is trading with a negative bias against the US Dollar and Bitcoin. XRP/USD could extend declines if there is a break below the $0.5200 support.
There was a recovery wave initiated in Ripple price above the $0.5200 level against the US Dollar. The price moved above the $0.5400 and $0.5500 resistance levels. However, the upside move was capped by the $0.5650 zone where sellers appeared. A high was formed at $0.5681 before the price started a downside move. It declined and broke the $0.5500 support area. There was also a break below the 50% Fib retracement level of the last leg from the $0.5030 low to $0.5681 high.
The decline was such that the price settled below the $0.5400 level and the 100 hourly simple moving average. At the moment, the price is testing the 76.4% Fib retracement level of the last leg from the $0.5030 low to $0.5681 high. The $0.5200 support area holds a lot of importance for the next move in the near term. Should there be a bearish break below $0.5200, the price could drop back towards the $0.5000 level in the near term. On the upside, there is a key bearish trend line in place with resistance near $0.5300 on the hourly chart of the XRP/USD pair.
Looking at the chart, the price remains at a risk of more losses below $0.5200 as long as it is below $0.5400.
Looking at the technical indicators:
Two of Russias biggest banks are piloting cryptocurrency portfolios for their personal customers, the Kommersant newspaper reported Friday. Under the watch of the Bank of Russia, Sberbank and Alfa Bank will provide their clients shares in a special fund which is going to be trading the six most popular cryptocurrencies on major markets, such as Kraken and Bitstamp, in accordance with the report. Sberbank, the principal state owned bank accountable for processing government worker paychecks, and Alfa Bank, the largest private bank in the country, plan to enter crypto trading with the aid of the AddCapital investment fund, the National Settlement Depository and the Group IB.
Sberbank Private Banking deputy seat Ana Ivanchuk mentioned. Wed like to provide our clients a totally transparent way to put money into electronic with full compliance with the regulations which will allow them invest in the product theyre intrigued in Russia. Our goal is to speed-up the recognition of the electronic assets as valid financial assets as quickly As possible, said Anton Rakhmanov, director of Alfa Banks private banking division. AddCapital, the investment fund that participated in the new pre sale of Telegram tokens, is believed to be in charge of the technical solution for the project. Chief executive officer Alexey Prokofyev said the investment process will probably see investors buy a share of the fund.
The portfolio includes the six most popular cryptocurrencies, such as bitcoin, bitcoin cash, ethereum and litecoin. A combination of coins will probably be revised 4 times per year, and their proportions will probably be balanced by means of a trading algorithm. The shares are liquid and a customer could send them to get fiat currency any time, Prokofyev said. The National Settlement Depositary, which is part of the Moscow Exchange Group, will act as the custodian. While testing the portfolio process will take approximately 45 weeks, the particular dates havent been disclosed. Sberbank declined to comment when reached. Russian flag picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A professional investor, who has worked at BlackRock, explained the main reasons why institutional investors are watching the crypto market but not yet getting involved. Speaking in London Tech Week he said that regulatory uncertainty, volatility and lack of education are the main obstacles.
Adam Grimsley, co founder of Prime Factor Capital, said that although some high net worth individuals are building up portfolios, the majority of institutional investors are waiting for regulatory certainty. Speaking at the Zeroing In On Europe conference on June 16, he highlighted the lack of regulation in London and the unwillingness of watchdogs to get involved.
He said: Banks, institutions and professional investors have been left at the start line. The usual advantages of size, infrastructure, connections and reputation have shown to be obstacles to move quickly into this space. Concerns around volatility, lack of liquidity, and regulatory uncertainty were more than enough to prevent the so-called traditional smart money from entering the arena.
On the other hand, Grimsley said: High net worth individuals and principal investors, through family office or private banks, have been quietly building up positions in crypto assets for the last few years.
In a panel discussion at the same event, James Radecki, Global Head of Business Development at Cumberland, the cryptocurrency arm of DRW, said that institutional money is starting to move into the market and that the decrease in volatility is proof of this.
Prime Factor Capital are a cryptocurrency and cryptoasset asset management company. They were founded by investors at global investment managers BlackRock and Nic Niedermowwe, who used to be a derivatives trader and had previously set up a cryptocurrency market making business.
On this move away from BlackRock, Grimsley said that the founders were personally invested in the new technology and felt there was a lack of professional management services.
Grimsley said: Weve been involved in the blockchain industry for some time and observed its huge potential to disrupt. It has the capacity to capture billions or trillions of dollars-worth of value fragmented across many different protocols.
As the South Korean government steps up its anti-money laundering (AML) oversight, major crypto exchanges in the country are voluntarily complying while banks are reportedly failing to meet the guidelines for compliance. South Korea has also been discussing ways to boost crypto-related AML measures with the U.S.
South Koreas AML directives currently do not apply to cryptocurrency exchanges directly. The government has made banks responsible for monitoring and reporting any crypto-related money laundering activities.
In an effort to comply with the countrys AML directives, most major South Korean banks have been adding compliance officers.
NH Nonghyup Bank, for example, recently created an independent unit ex...
A flat weekend in crypto land has not been enough to entice the bulls back into the market. Monday morning is shaping up to be a red one as the downward slide continues. Total market cap is still falling back towards the yearly low six weeks ago. Bitcoin is lulling around the $6,500 mark and has lost 1.5% on the day and Ethereums little bounce on the SEC news last week was short-lived as it also declined a similar amount to just below $500. Altcoins are getting hit harder with most of them in the red at the time of writing. There is only one coin in the green at the time of writing and that is Binances own crypto, BNB.
According to Coinmarketcap Binance Coin is trading up 3.9% on the day while every other altcoin in the top 40 is falling once again. BNB is currently trading at $16.80, up from $16.13 this time yesterday. Binance coin has had a strong week in spite of the negative market sentiment climbing 17.5% from $14.30 this time last Monday. On the month BNB has performed solidly rising 35% from $12.40 this time last month. Against Bitcoin BNB has made 5.7% on the day to 261300 satoshis from 247000 sats this time yesterday. Weekly gains on BTC have been around 23% from 212000 satoshis as Bitcoin has continued to fall.
Binance continues to offer promotions and airdrops for various tokens including its own which makes it a positive coin to invest in. Additionally trade fees can be halved by users trading with BNB instead of directly, this will also increase volume and value of this altcoin. Binance is constantly expanding with news that it will be offering fiat trading from Malta soon and another move into Jersey to tap the UK market keeping the exchange at the top of its game.
Tether is the top traded pair with BNB at over 50% with BTC taking 38% and ETH 4.4%. Trade volume has increased from $88 million to $109 million in the past 24 hours and Binance Coin is the only one not getting hammered during Asian trade this morning. With a market cap of $1.9 billion BNB sits at 15th spot in the coin charts.
All gains in the past 2 months have been wiped out with crypto markets falling back to early Ap...
Ethereum Price Key Highlights
Ethereum is currently consolidating inside a short-term symmetrical triangle with the possibility of an upside break.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. Price is still below the moving averages, after all, so sellers are in control.
However, the gap between the moving averages is narrowing to signal a potential upside crossover. In that case, bullish momentum could kick in an sustain a rally in the event of a break higher. Ethereum would also need to break past the 200 SMA dynamic inflection point just above $500 to confirm an uptrend.
Stochastic looks ready to move back up without even hitting oversold conditions. This signals that buyers are eager to return and push ethereum back up. RSI is already on the move up after making its way out of the oversold region, indicating that bullish pressure is present.
Ethereum drew strong support from remarks by an SEC official citing that it is not a security to be regulated like stocks or bonds. Although this isnt an official ruling yet, many are hopeful that this particular altcoin can evade strict regulation.
However, dollar strength is being tough to contend with as safe-haven demand picked up when the US and China imposed tariffs on each others goods. This could mean weaker demand for commodities and slower business activity, thereby dampening g...
Ethereum price is currently in a bearish zone against the US Dollar and Bitcoin. ETH/USD could decline further towards $475 level in the near term.
There was an upside move above the $500 level in ETH price against the US Dollar. The price traded a few points above $500, but it failed to gain momentum. As a result there was a downside reaction and the price settled below the $500 level. There was also a close below the $495 level and the 100 hourly simple moving average, which is a bearish sign. Additionally, the price broke the 23.6% Fib retracement level of the last wave from the $447 low to $528 high.
More importantly, there was a break below a crucial bullish trend line with support at $500 on the hourly chart of ETH/USD. The pair declined and tested the $488 support area. The mentioned support is near the 50% Fib retracement level of the last wave from the $447 low to $528 high. The pair is currently trading well below $500 with a bearish angle. Should there be a downside break below the $488 level, there could be more declines towards the $475 level.
Looking at the chart, the price may perhaps correct a few points towards $500. However, there is a bearish trend line in place to prevent upsides near $500 in the near term.
Hourly MACD The MACD is slowly moving back in the bullish zone.
Two of Russia's largest banks are planning to launch a cryptocurrency portfolio product for their private banking clients, Kommersant reported.
A financial storm is coming.
Weve all known about it for some time, to the point that many of us want to believe it will just go away or will forever be delayed as long as the world accepts U.S. dollars.
To some extent, thats true. The world will do everything it can to delay the inevitable systemic crisis we see for the entire global financial system.
Here in the U.S., we are starting to see signs of a top: auto loans, student debt, and consumer and government obligations are far past the point of sustainability.
Much of this debt-fueled growth has paid for a lot of prosperity around the world for decades.
For most retirees and people over 50, they are headed towards a doomsday scenario. Any trust in the current financial system will lead to absolute poverty over the next 10 years.
I know, it seems like this can go on forever, but the truth is its not, and we may be in the final gasp of the current centralized system we live in today.
Its why Ive gone to great lengths to offer up income ideas completely outside of Wall Street, and even investment ideas outside of the banking sector, like Bitcoin and using whole life cash value polices as savings vehicles.
Weve also taken small positions in start-up companies, founded and headed up by proven winners.
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