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This Pacific Island may get its national cryptocurrency after all. Marshall Islands President Hilda Heine has eked out a no-confidence vote that threatened not only to derail her presidency but also the fate of the Sovereign (SOV), a national cryptocurrency spearheaded by her administration. According to the Nikkei Asian Review, President Heine blamed a referendum about Continued
The post Marshall Islands President Survives Crypto-Infused No-Confidence Vote appeared first on CCN
The New York State Department of Financial Services has granted a BitLicense to a subsidiary of the New York Digital Investment Group
The Australian Taxation Office (ATO) has used official channels to warn taxpayers of scammers who are fooling people into paying their taxes through Bitcoin ATMs to their accounts.
As the deadline approaches on 21 November, the authority told the one million taxpayers, who will need to make a payment to the ATO, to be wary.
Kath Anderson, assistant commissioner at the ATO, stated that increasingly sophisticated scammers look to exploit vulnerable people often using aggressive tactics to take their money or personal information.
The top five scammer signs include the threat of immediate arrest, unusual payment methods such as prepaid cards, the request of personal security information including tax file number, bank details or social media sites. The authority added that scammers often ask for money in order to process a refund or other payment.
November is a prime time for scammers as they know lots of people have tax bills to pay. Be wary if someone contacts you demanding payment of a tax debt you didnt know you owed  Our advice is simple the ATO will never ask you to make a payment into an ATM or via gift or pre-paid cards such as iTunes and Visa cards, or direct credit to be paid to a personal bank account, Anderson said on the ATO website.
Since July 2018, Australians have reported over 28,000 scam attempts, totaling nearly $1 million paid to scammers, with payments through Bitcoin ATMs becoming their favorite means of payment, followed by iTunes vouchers. Anderson is also concerned about vulnerable personal information that is given away to scammers.
Since 1 July, weve seen almost 6,000 taxpayers give away their personal or financial information to scammers through things like phishing scams. Your identifying information like tax file numbers, bank account numbers or your date of birth are the keys to your identity, and can be used by scammers to break into your life if they are compromised. Scammers have been known to impersonate tax agents too its recommended that you hang up and call your agent direct on a number you have sourced independently.
BitMEXs head of research, Jonathan Bier, gave a statement to Bloomberg this week that will soon be proven true or false. In regards to how the upcoming Bitcoin Cash fork would play out, Bier said that he believes that the important divide between the economic majority and the mining majority will sort itself out in Continued
The post Op-Ed: Will Crypto Miners Abandon Craig Wrights Bitcoin Cash Fork? appeared first on CCN
As global regulators rush to institute legal frameworks aimed at reducing the amount of fraud and scams that exist within the cryptocurrency industry, a recent series of arrests in Tokyo highlight just how important regulations can be.
Earlier today, police in Tokyo arrested eight individuals in connection to an alleged cryptocurrency pyramid scheme that collected approximately $68.42 million in cash and digital assets from 6,000 people.
As first reported in The Asashi Shimbun, the charges against the eight men came about after a group of 73 victims filed a lawsuit against the group. Its reported that they were the victims of a scam that offered investors unrealistic profits if they gave the investors fiat currency to invest with.
The lawsuit, which was filed at the Tokyo District Court last month, is seeking 370 million yen ($3.25 million USD) in damages. It claims that the groups held multiple seminars with foreign speakers who attested to the validity of the program. Additionally, they promised investors monthly returns of 3-20%, based on how much they invested, and offered investors higher returns if they brought more into the program.
The group offering the investments claimed that the funds were being given to a U.S.-based investment firm, called Sener, which would actively manage the funds and distribute the guaranteed returns back to investors each month.
The group failed to register with Japans Financial Services Agency (FSA), which requires that all groups soliciting investments from individuals, for cryptocurrencies or securities products, must register and go through a thorough process that verifies the validity of the services or products being offered.
According to the report, six of the eight suspects have admitted to the allegations, while the other two continue to deny them.
Related Reading: Crypto Week In Review: China, Japan, U.S. Regulators Approve Crypto
Regulatory authorities have to walk a fine line between regulating the cryptocurrency markets in a way that proves beneficial for investors,...
In less than 24 hours the Bitcoin Cash (BCH) network will be facing a hard fork involving consensus changes that are currently disputed and may lead to a blockchain split. Two development teams have proposed different paths for the Nov. 15 upgrade and the clashing BCH reference implementations will be incompatible with each other after the fork commences.
Also read: Preparing for the Looming Bitcoin Cash Fork
The Bitcoin Cash community plans for a network hard fork twice a year and this year it has become apparent that the Nov. 15 upgrade may have issues due to the release of two competing ruleset changes. The Bitcoin ABC developers plan to add a new opcode called OP_CHECKDATASIG (DSV) and the introduction of canonical transaction ordering. Then the Bitcoin SV team has plans to introduce four new opcodes: OP_MUL, OP_LSHIFT, OP_RSHIFT, and OP_INVERT. Additionally, SV wants to remove the limit of opcodes per script and raise the block size to 128MB....
Spanish telecoms operator Telefnica partners with IBM to apply blockchain technology to the management of international mobile phone call traffic
Now that Bitcoiner Jared Polis has left Congress for the Colorado Governors Mansion, support both moral and material for the crypto industry in Washington, DC may be seen as lacking. While it is largely unelected bureaucrats who rule the financial arena in this country and occasionally make brash decisions in regards to innovative technologies like Continued
The post Ohio Congressman Wants to Eliminate SEC Jurisdiciton over Crypto Industry: Report appeared first on CCN
South Koreas leading technology university, the Korea Advanced
Institute of Science and Technology (KAIST), is working with
Theta Labs, the first
blockchain-based video delivery system, to introduce students to an
entirely new set of coursework regarding the applications of
Were kicking things off with a seminar at the electrical engineering school this Friday [the 16th] where well be providing a high-level overview of blockchain technology and current trends in development, Theta Labs CEO Mitch Liu told Bitcoin Magazine.
Well also start a student club focused on the Theta project, where well work with students to start building applications on the open-source Theta blockchain alongside our engineering team. In Q1 2019, our team will be teaching a one-week course at the K-School at KAIST, which is the universitys entrepreneurship-focused program. This will be a wide-ranging course on building a successful startup, from establishing a team and fundraising to go-to-market strategies.
KAIST is just the latest in a growing number of post-secondary institutions, including MIT and the University of Edinburgh, that have added blockchain-related courses to their curricula.
Liu claims that South Korea is one of the most important leaders in the blockchain space, and that its biggest contribution is its ongoing investment in blockchain education and development.
The Ministry of Science is investing millions in public sector applications of blockchain [technology], and its top engineering schools like KAIST and POSTECH are creating a pipeline of talented blockchain engineers that will drive continued education in the space, he said.
We hope to use this opportunity at KAIST to bridge the gap between academic research and real-world usage of blockchain [technology]. Our focus will be on applied knowledge that students can use to start working on their own projects.
In addition to working with KAIST, Theta has also announced partnerships with two of South Koreas leading media companies Maekyung Media Group and CJ Hello to bring its decentralized video-streaming services to wider audiences. Liu says that both groups are very open to adopting new technology and understand the potential of using decentralized networks to improve thei...
Today, November 14, 2018, the New York State Department of
Financial Services (DFS) announced
that it has approved the application of NYDIG Execution LLC, a
subsidiary of NYDIG LLC, for a virtual currency license and a money
transmission license. The approval of this so-called BitLicense or
Virtual Currency License application is the 14th of its kind and is
required under New York State law in order for a company to engage
in any Virtual Currency Business Activity.
Under the BitLicense, NYDIG Execution LLC is allowed to offer secure custody and trade execution services, as well as to operate as a custodian for virtual currencies, including bitcoin, bitcoin cash, ether, ripple and litecoin.
DFS Superintendent Maria T. Vullo approved the request, stating, Todays approval further demonstrates that operating within New Yorks robust state regulatory system leads to a stronger fintech marketplace and promotes innovation and necessary compliance with effective risk-based controls.
First enacted in August 2015, BitLicense regulations caused an outcry from the community. Some industry companies such as Circle pursued a BitLicense, and others such as itBit (now Paxos Trust Company) received approval to operate as a chartered trust company with DFS oversight. However, many left the state for more accomodating jurisdictions in what the New York Business Journal called the Great Bitcoin Exodus, citing overly burdensome regulatory hurdles, excessive disclosure requirements and financial disincentives in pursuing the license applications.
San Franciscobased exchange Kraken withdrew from servicing New York residents because of the states new licensing requirements. In a blog post titled Farewell, New York, the founders of Kraken stated, Regrettably, the abominable BitLicense has awakened. It is a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth.
The process of granting Virtual Currency Licenses had been slow initially, with Coinbase acquiring the third...
Twitter has been on the losing side of an ongoing battle with scammers who are leveraging the platforms user base to steal cryptocurrencies. However, the company has revealed that its implemented some safeguards in an attempt to reduce the frequency of such scams and better protect its users.
Twitter, the popular social media platform originally known for limiting discussion to 140 characters, has been fighting a growing trend where cybercriminals hijack accounts often verified accounts of major brands, big-name celebrities, and cryptocurrency industry executives and entrepreneurs.
The likenesses are imitated, and then used to lure users into sending a small sum of cryptocurrency to a scammers wallet, with the promise of a larger sum being sent in return. Except the sending user is left high and dry after they realize they are not only getting the promised larger sum, but that theyve lost the initially sent assets as a result of the scam.
Related Reading: Crypto Scammers Steal $150K Posing As Elon Musk
Yesterday, one of the U.S.s largest retail chains, Target, had their verified account of 1.92 million followers hacked.
A posted tweet on it stated that it was doing a cryptocurrency giveaway that led to over $38,000 in Bitcoin being stolen from Targets customers. Target issued a statement apologizing to its customers and explaining the situation. However, the retail giant cannot be too pleased with the way Twitter has allowed this problem to run rampant on its platform, and continue to escalate.
Following the incident, Twitter issued a statement.
Weve been in close contact with Target this morning and can also confirm that their account was inappropriately accessed for approximately half an hour, after which we swiftly locked the account so Twitter could thoroughly investigate the issue, the company told Hard Fork.
The crypto markets extended stable action took its last breath on Wednesday as the bitcoin price dipped to a new yearly low at 5280-fiat. The BTC/USD index fell more than 12 percent ahead of the US trading session, now trading at 5439-fiat on Coinbase. The pair was trading comfortably inside a narrow trading range since Continued
The post Bitcoin Price Sinks to New Yearly Low as Sell-Off Batters Crypto Markets appeared first on CCN
Should traders start bottom fishing following todays major sell-off or is it best to sit and wait until the decline plays out? Lets consult the charts
Uber managed to gain a remarkable market share in the transport industry by implementing a simple but powerful idea. The company didnt invest in a technology from scratch, but selected an industry with great demand and built an ecosystem with a broader supply chain. Uber realized that the difference of quality and cost expectation assurance to be competitive depending on the market dynamics.
Many believe that Ubers surge-price algorithm which adjusts fare price according to demand is a brilliant example of supply and demand at work. It could possibly be the literal realization of every economists fantasy that is catalyzed by the mobile Internet. However, is uberizing possible for every single sector of the modern economy? While the concept seems attractive to many sectors as a promise for developing a more equitable supply-chain, whether Uberization will gain ground as a popular development model for startup enterprises remains a question.
As blockchain is co-opted into the infrastructure of traditional business the world will see how well the concept of Uberization fares. In real-world applications, blockchain might be the only technology which can solve the issue of trust and minimizing excessive middlemen costs. Blockchain platforms provide participants with the agency to self-organize, and communities governed by blockchain will need to prove their value and efficacy beyond the mere theoretical premise that there is no need for middlemen in markets that are decentralized and self-regulated.
Currently, many initiatives and projects are trying to grab a slice of the Uberization vertical markets pie. The concept of eliminating the need and cost of a third-party through the use of blockchain technology is very attractive to many corporations and could also help to better protect data against data breaches. Among the key opponents of Uberization, is the concept of humanization, a blockchain specific term which can be defined as ensuring the integrity of a supply chain by guaranteeing the integrity and provenance of the transacting community. Within this decentralized realm, the conceptual strength and communal belief in humanization are essential as everybody is accountable to everyone. While blockchain provides total immutability and security, humanization bolsters each participants belief that all interactions also occur within an environment governed by a mutually accepted moral scope.
The author of the hugely popular The Bitcoin Standard has said that Bitcoin is not optional and that its here to stay.
Dr Saifedean Ammous, has been interviewed in the mainstream press. As you might expect from the economist and professor, the piece makes for some stirring reading for all those interested in the future of Bitcoin.
One of the most popular thought leaders in the digital asset space has featured in a widely viewed U.K. news publication.
Dr Ammous, the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, was interviewed by the Express for his views on the most valuable digital asset to date, Bitcoin.
During the interview, he spoke openly about Bitcoins revolutionary potential. For the professor of economics at the Lebanese American University, Bitcoin offers something fundamentally new in terms of a form of money:
The point is: Bitcoin, in terms of its design and monetary policy, has a very unique property which is that it is the first monetary asset weve ever had whose supply is completely unresponsive to demand.
According to the economist, Bitcoin is not optional. It is here to stay and when major players in the global financial system realise how well optimised it is for use as a store of value they will beg for a complete modernisation across the entire financial sector.
Dr Ammous is most well-known in the Bitcoin space for his book on the importance of Bitcoin and its unique opportunity to replace a rotten fiat system that systematically enriches those at the top whilst stealing from the majority of its users.
For him, Bitcoin represents a remedy to the corruption of central banks around the world. He states:
Bitcoin is not the toy you want, it is the medicine you need.
In terms of its discussion on Bitcoins monetary policy and its setting within the context of the history of money itself, Ammouss The Bitcoin Standard, is second to none.
It discusses the curren...
Singapore-based cryptocurrency exchange Kucoin has
announced it has raised a combined total of $20 million in series A
funding. Taking part in the Kucoin founding round were IDG Capital,
Matrix Partners and Neo Global Capital.
Opened for cryptocurrency trading in September 2017, Kucoin reports it now has more than five million registered users, coming from over 100 countries. It is the 52nd most popular venue in the world by trading volume, with close to $600 million of cryptocurrency traded a month. Full details of the Series A deal have not been released yet, so it is impossible to calcu...
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In what is becoming an emerging trend, Twitter accounts of
popular brands are being hacked in an attempt to scam unsuspecting
users out of their cryptocurrencies.
Target and Google are two high profile targets that have seen their accounts taken over by hackers who, in turn, have used them to scam followers by advertising fraudulent crypto giveaways.
Google's G Suite Twitter Account is Hacked!! pic.twitter.com/JdB7huGksOBurton (@B_u_r_t_o_n) November 13, 2018
Target's Twitter account, which is followed by nearly 2 million
users, posted a
tweet, confirming the hack which occurred on November 13, 2018.
The retailer stated:
"Early this morning, our Twitter account was inappropriately accessed. The access lasted for approx. half an hour & one fake tweet was posted during that time about a bitcoin scam. We have regained control of the account, are in close contact with Twitter & are investigating now."
Seemingly targeted by the hacking syndicate, Google's G Suite Twitter account was breached hours after Target fell victim. The hack on Google was marked by the same tactics as the one that plagued Target a scammy tweet ridden with typos promising free bitcoin to G Suite's 800,000 followers.
A Google spokesperson confirmed the hack to Business Insider in a statement:
"This morning an unauthorized promoted tweet was shared from the G Suite account. We removed the tweet and are investigating with Twitter now."
While it's unclear how scammers are gaining access to the brands' social media account, it's obvious new measu...
The developers of Kin, the cryptocurrency created by social media app Kik, have announced that the crypto token will undergo yet another major developmental redesign as they seek to marry scalability with an intuitive user experience. The Kin Foundation revealed on Wednesday that, in a departure from the crypto projects earlier roadmaps, developers plan to Continued
The post One Blockchain: Ambitious Crypto Project Kin Forks Roadmap [Again] appeared first on CCN
Markets are down significantly on the day with most major coins sufferings losses over 10 percent, Bitcoin dips below $5,600
McAfee Labs has announced the discovery of WebCobra, a Russian coin mining malware which explores victims computing power.
Security researcher Kapil Khade also found that a correlation between the prevalence of miner malware and changes in the price of Monero (XMR).
The threat research division of McAfee, a leading computer security software company owned by Bitcoin enthusiast John McAfee, found what it considers to be an uncommon and hard to detect cryptocurrency mining malware.
Uncommon in that it drops a different miner depending on the configuration of the machine it infects.
Khade, with the collaboration from colleagues Oliver Devane and Deepak Setty, analyzed the Russian-born threat, dubbed WebCobra.
The malware steals victims machine resources as it increases power consumption while it runs silently in the background and mines cryptocurrency. Once infected, the computer warns the user of performance degradation, but is unable to detect the presence of the threat without up-to-date anti-malware software.
Khade argued in his post that the increase in the value of digital currencies has led to a significant increase in the use of malware for the purpose of cryptocurrency mining. The Russian crypto jacking malware seems to have a special appetite for Monero (XMR). The digital asset known for its privacy features is priced above $100 after having peaked at nearly $500 in early January 2018.
The increase in the value of cryptocurrencies has inspired cybercriminals to employ malware that steals machine resources to mine crypto coins without the victims consent, Khade notes.
The researcher shared a chart comparing the price of Monero from January 2016 to July 2018 against coin miner malware samples. The graphic indicates a clear correlation between the two, with unique mining malware reaching its all-time high one month after the burst of the cryptocurrency bubble earlier this year.
The use of...
With contributing reporting from Jimmy Aki.
Christine Lagarde, head of the International Monetary Fund
suggested a new course of action for central banks around the
world: turn their fiat currencies digital.
The IMF chair gave a speech at the Singapore Fintech Festival on November 14, 2018, titled Winds of Change: The New Case for Digital Currency. In it, Lagarde stated, I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.
She continued to laud the benefits of cryptocurrency payments, calling them "immediate, safe, cheap and potentially semi-autonomous" and saying that central banks should consider issuing digital assets so they can "retain a sure footing in payments.
Her speech comes two days after the IMF released a research paper that highlights many of the talking points Lagarde hits on. Titled "Casting Light on Central Bank Digital Currencies," it details some of the benefits a state may see if it decides to issue digital currencies, including financial inclusion, consumer protection and privacy in payments.
State sponsored digital currencies is not a new idea. Lagarde herself pointed out that the central banking authorities of Canada, China, Sweden and Uruguay were already considering the notion. However, she urged central banks to support digital currencies as a premise of the future, stating such currencies could satisfy public policy goals, such as (i) financial inclusion, and (ii) security and consumer protection; and to provide what the private sector cannot: (iii) privacy in payments.
It should be noted that the IMF Chair referred to cryptocurrencies throughout her speech. The Chair espoused a nuanced view of crypto that, while not wholly supportive, showed the advancements of the industry were part of the IMFs new outlook.
For their part, cryptocurrencies seek to anchor trust in technology. So long as they are transparent and if you are tech savvy you might trust their services. Still, I am not entirely convinced, Lagarde stated.
For Lagarde, cryptocurrencies still require [proper] regulation of these entities so that they will rema...
The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against Continued
The post Tokens Continue to Take a Hit: is SEC Preparing to Target Crypto Projects? appeared first on CCN
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The Ontario Superior Court of Justice has recently moved to take
custody of a large sum of assets from a crypto exchange currently
frozen in accounts at the Canadian Imperial Bank of Commerce
According to a recent court document, the CIBC had frozen several accounts of some disputed assets at the crypto exchange QuadrigaCX, including $25.7 million CAD and $69,000 USD. The bank was allegedly unable to identify who the exact owner of these accounts was along with millions that were deposited by the exchanges various clients, so it froze them indefinitely.
This has prompted legal action on behalf of QuadrigaCX which has been trying to reclaim the money that they claimed entitlement to.
With such large sums in limbo, many of this exchanges customers have been unable to access their money at all, leaving the companys day-to-day ability to function in jeopardy. Emails sent from representatives of QuadrigaCX to CIBC were submitted as evidence to the court, including concerns that the exchange was under extreme pressure from many clients to address this ASAP and that lawsuits are being filed against us.
However, the court has evidently decided to take neither partys side in this juncture. Judge Glenn Hainey has instead ruled that CIBC transfer custody and liability of these frozen assets to the courts themselves, so that they may more thoroughly inspect them to determine their specific ownership.
Even a ruling in QuadrigaCXs favor could still spell trouble for the exchange, however. According to the court documents, it was CIBC that originally made the application to make the court the final authority on these funds ownership, and the court specifically decided to grant CIBCs request.
The exchange may eventually see its funds returned, but Judge Hainey stated, I am not in a position on this record to make any determination as to CIBCs possible liability for [freezing the accounts]. Without some sort of damages paid to QuadrigaCX for the inconvenience of losing access to $26 million dollars, the lawsuits filed from the exchanges depositors may prove a problem down the road.
This article originally appeared on Bitcoin Magazine....
As cryptocurrency is steadily taking over the online forex trading industry, more and more specifically tailored solutions are being developed. The latest example is an institutional-grade venue built on the widely used Integral FX platform, Mint Exchange.
Mint Exchange officially launched publicly today, Nov. 14, as a cryptocurrency clearinghouse providing access to major exchanges, brokers and market makers through a single gateway. It is meant to offer better liquidity for institutions to trade across cryptocurrency markets, while keeping their capital in the secure environment they are used to. The exchange maintains development, support, and sales offices in Palo Alto, California, London, and New York.
The company behind the new clearinghouse says that many of the top global FX brokers are already trading cryptocurre...
Leading insurance holding Ping An of China has partnered with the Sanya Municipal Government to develop Smart City construction, promoting blockchain tech, among others
San Francisco-based cryptocurrency startup Coinbase has had a spectacular couple of years. A recent funding round valued the firm at $8 billion, making its CEO, Brian Armstrong, worth $1.3 billion.
For many getting started in the space, Coinbase serves as a gatekeeper to the rabbit hole that is crypto. Launched in 2012, the company has become one of, if not the, most recognisable in the industry thanks to an ever-expanding list of features, services, and, surprisingly, robust security record.
The exchange made a name for itself by offering a no-nonsense entry into cryptocurrency. By using the San Francisco-based startups brokerage service, those intrigued by digital assets can get exposure to them in a familiar way using a wide range of common deposit options.
The firm also operates an exchange service offering more advanced trading features. Formerly known as GDAX, like the main brokerage service, Coinbase Pro generates fees on every trade made. The direction of the market is irrelevant to Coinbase, and by extension, its recently named billionaire CEO.
According to Bloomberg, a recent funding round managed to raise $300 million for Coinbase, which in turn received a valuation of $8 billion. Based on that figure and Armstrongs stake in the firm, the CEO is worth $1.3 billion. Compare this to his estimated net worth of $900 million to $1 billion in January of this year. Clearly, there is money to be made in the exchange game during bear markets too.
For those who follow the cryptocurrency industry closely, such figures should hardly come as a surprise. The crypto exchange has had a very busy 2018, launching a variety of products and services, making high-profile hires, and receiving prestigious licences to operate.
This summer the firm launched four new products aimed at the institutional market: Coinbase Custody, Coinbase Prime, Coinbase Institutional Coverage Group, and Coinbase Markets.
Bitmain has denied reports that its CEO Jihan Wu was ousted as
the mining firms board director while confirming that the board has
Setting the record straight, Nishant Sharma, international marketing manager of Bitmain Technologies Limited, told Bitcoin Magazine that, instead of losing his position, Wu will continue on as a co-director of the board amidst a wider reorganization.
As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO. This is to simplify the board structure to facilitate its management. There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan, Sharma wrote in an email correspondence.
This clarification comes after numerous erroneous reports indicated that Wu had been demoted from director to supervisor, a relegation that would have neutralized the CEOs clout and decision-making power in the company.
The restructuring caps off a tumultuous year for the mining monolith. Mid-year, news broke that Bitmain has been planning an initial public offering (IPO), but this strategic move has since been shrouded in doubt regarding the companys solvency and financial well-being. The firm, for instance, omitted information for Q2 in its 2018 financial report, and Blockstream CEO Samson Mow has claimed that this opacity points to multi-million dollar losses that were partly incurred from the firm holding over 1,000,000 bitcoin cash. To make matters worse, a handful of reported pre-IPO investors came out and denied reports that they had committed funding to the mining firm.
Meanwhile, Bitcoin Cash is undergoing problems of its own, as a fork led by Craig S. Wright has splintered the community, threatening the Bitcoin Cash main chain as a result.
In an announcement of its $200 million funding round, Sweetgreen, a renowned U.S. fast-casual salad chain, mentions blockchain among its key development areas
Top global exchange OKEx has announced early delivery of Bitcoin Cash futures contracts immediately after trading stop time today
October records a minimum of ICO listings for the last 12 months, however the total amount of capital raised is about 24% above Septembers
French stock market regulator claims that France accounts for a minor part of the global ICO market, while the U.S. leads the industry
Forex exchange settlement giant CLS will launch its IBM blockchain-powered netting service within a matter of days, according to Chief Strategy Officer (CSO) Alan Manquard
New York's latest BitLicense has been granted to the New York Digital Investment Group, along with a limited purpose trust charter.
Swiss stock exchange SIX, aiming to launch digital exchange on blockchain, believes the technology will replace traditional markets in a decade
Bitcoin has fallen to its lowest levels in the past month and has officially broken through the bottom of its previously established trading range between $6,200 and $6,700. Bitcoins drop has led to a widespread market loss, with most major altcoins trading down 10% or more.
At the time of writing, Bitcoin (BTC) is trading down 7% at its current price of $5,850, the lowest price it has seen in a month. Todays drop has decisively pushed its price below its previously established support level of $6,200, which it has held on multiple occasions in the past couple of months.
It now appears that Bitcoin will test its yearly lows of approximately $5,800, and an end-of-year rally is looking significantly less likely.
Ricky Li, the co-founder of Altonomy, a cryptocurrency trading and asset management firm, spoke to MarketWatch about BTCs latest price action, explaining that it is unlikely that it will see any immediate positive price action due to a lack of interest from retail traders.
Bitcoin is not only going through low volatility, but also very low volume. Its at the lowest trading volume in 2018, especially the spot market. This signals a very low retail participation. So without enough external funding or retail participation, the market is probably going to stay around the current price with low volatility and volume in the near future, Li said.
Altcoins, many of which have seen positive pricing action in the months and weeks prior, have been the worst affected by todays drop, many of which are nearing drops of 20%.
At the time of writing, XRP is trading down over 15%, at its current price of $0.438. Yesterday, XRP was retesting highs of approximately $0.53, and its pricing action was looking bright. Todays drop is now bringing yearly lows back into play, with XRPs year-to-date low hovering around $0.25.
Around 16:40 UTC tomorrow, November 15, 2018, the Bitcoin Cash
network is set to undergo another hard fork upgrade. But contention
about this upgrade has left the Bitcoin Cash ecosystem divided,
which could once again lead to a split into multiple projects and
Heres what you need to know to get up to speed.
Bitcoin Cash (sometimes referred to as Bcash or BCH) is a cryptocurrency that split off from the main Bitcoin blockchain in August 2017. Culminating from Bitcoins years-long scaling dispute, the spinoff project most notably increased its block size limit through a contentious hard fork upgrade, forking off to become its own coin though some of its proponents see it as the real Bitcoin. While currently trading at a fraction of bitcoins value around $480 at the time of writing Bitcoin Cash is the fourth biggest cryptocurrency by market cap and has garnered support from big names in the cryptocurrency space like bitcoin.com CEO Roger Ver and Bitmain co-founder Jihan Wu.
The Bitcoin Cash dispute is really between two competing factions, represented by their respective software implementations.
In one corner stands Bitcoin ABC, the original Bitcoin Cash client that caused the split away from the Bitcoin blockchain a little over a year ago. Led by Amaury Schet, and with close (though unofficial) ties to major mining hardware producer Bitmain, Bitcoin ABC has a policy of hard forking about once every six months to upgrade the protocol.
This time, Bitcoin ABC will introduce several changes. The first and probably main one is called Canonical Transaction Ordering (CTOR). While transactions can currently be included in a block in almost any order, under CTOR, transactions must be included in a specific order. The Bitcoin ABC development team believes this offers a couple of technical benefits, in part related to (future) scaling improvements.
A second change is a new piece of script (an OP code) called OP_CHECKDATASIG (DSV). This extends Bitcoin Cashs features, most notably by enabling oracles (which a...
This weeks crypto downturn forced the cryptocurrency market cap past an uncomfortable milestone on Wednesday, with the cryptocurrency market cap dropping below the $200 billion mark a day ahead of the contentious Bitcoin Cash hard fork. The crypto market had traded as high as $220 billion on Nov. 7, about the time many bulls were Continued
The post Newsflash: Crypto Market Cap Drops Below $200 Billion for First Time in November appeared first on CCN
CoinDesk is pleased to announce the launch of our new data product, the Crypto-Economics Explorer.
Bitcoin ABC and Bitcoin SV are now valued the same in advanced trading.
French and Israeli media report that a group largely made up of Israelis scammed 3,000 French citizens out of approximately $20 million. Most of the stolen money is in Israel, but Israeli authorities are reportedly failing to cooperate with France in prosecuting the scammers and retrieving the money.
This is the latest of numerous examples of Israeli officials stonewalling international efforts against the perpetrators of massive financial swindles around the world, according to Israeli investigative journalists and others. These scams have brought estimated billions into the Israeli economy, propping up a regime widely condemned for human rights abuses and ethnic cleansing against indigenous Palestinians. Together, the stories paint a picture of a government that seems to be turning a blind eye to and even protecting scammers.
A Finance Magnates analysis reports that one of the swindles alone has brought in over a billion dollars and employs 5,000 people. And a new scam, described below, may help what is predicted to be the next major driver of the Israeli economy.
A former IRS expert on international crime notes that fraudulent industries are often major economic drivers, and that can translate into political clout.
Some Israeli journalists have been working to expose the situation in Israeli newspapers, publishing exposs like As Israel turns blind eye to vast binary options fraud, French investigators step in and Are French Jewish criminals using Israel as a get-out-of-jail card? (Short answer: yes.)
The victims of the recent sca...
Christine Lagarde, the managing director of the International Monetary Fund (IMF), has said central banks throughout the world should consider issuing digital currency to make transactions more secure. At a recent conference in Singapore, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention.
I believe we should consider the possibility to issue digital currency, Lagarde said in a speech this week in the city-state, which is at the forefront of driving fintech innovation. There may be a role for the state to supply money to the digital economy. The advantage is clear. Your payment would be immediate, safe, cheap and potentially semi-anonymous. And central banks would retain a sure footing in payments.
Facing significant price instability ahead of tomorrows contentious Bitcoin Cash hard fork, major crypto exchange OKEx abruptly closed its BCH futures markets ahead of their scheduled expiration dates and provided early delivery to customers. Bitcoin Cash Fork Leads to Premature Futures Delivery The Malta-based OKEx announced the early BCH futures delivery on Wednesday, stating that Continued
The post Bitcoin Cash: Pre-Fork Uncertainty Forces OKEx to Close Futures Market Early appeared first on CCN
Go for the Jugular is the advice George Soros gave to his team
during his famous attack on the British pound for a profit of $1
billion on so-called Black Wednesday
in 1992. On October 15, 2018, tether, the market dominating
stablecoin with a market cap of $2 billion, was
attacked, breaking tethers peg to USD, dropping its value by 7
percent but simultaneously driving up bitcoin and the whole crypto
market by more than 10 percent. Even though nobody has claimed the
attack yet, entrepreneurs, investors and customers of stablecoins
should all carefully analyze existing and potential attacks and act
Stablecoins, cryptocurrencies with stable value, are considered the holy grail of crypto since they could displace all the fiat money in the world which is about $90 trillion. As one might expect, investors have poured out hundreds of millions of dollars chasing stablecoin dreams, and, following the money, new stablecoin projects have come out left and right in 2018, which many have called the year of the stablecoin.
While there are many good articles on stablecoins, almost all of them focus on topics related to stablecoin design or why stablecoins are doomed to fail, and all analyses assume normal crypto market conditions rather than taking into account the volatile conditions we have experienced.
However, during an attack, the market movement is massive and sudden. Assuming these attacks are legal and highly profitable, just like Soros attack, they will come back again and again. Only the stablecoins that can survive these attacks can eventually become the holy grail.
As of the writing of this article, there is not much information or data regarding the Tether attack on October 15, 2018. Who were the attackers? What was the method to profit from the attack? How profitable was the attack? What resources were required to execute the attack? Was there any attempt to defend against it? However, just by analyzing some l...
"One Kin on one blockchain," said CEO Ted Livingston. "That's our vision."
The CTO of IBM Blockchain for Financial Services has said that CBDCs can help to mitigate the risks that contributed to the 2008 financial crash, among other major benefits
Despite their harsh exterior, banks have been quietly preparing for a world that involves cryptocurrencies. Bank of America has most recently secured a patent for a cryptocurrency aggregation system, one in which big companies store customers crypto deposits in an enterprise account involving vaults and offline storage rather than taking on the risk themselves. For example, deposit Continued
The post Bank of America Could Store Crypto Deposits for Big Companies appeared first on CCN
Casa has boosted Jameson Lopp to CTO eight months after he joined the crypto custody solutions startup as an infrastructure engineer.
The cryptocurrency industry is still in its infancy, or so we keep being told. That infancy, or childishness, is often revealed on the crypto-spheres primary tool for communication, Twitter. No greater example has been seen than the recent battles between rival camps over the upcoming Bitcoin Cash hard fork.
The Bitcoin Cash hard fork, set for November 15, is part on an ongoing network upgrade published in its roadmap. It is a high possibility that the two or even three versions of the fork will be updated from BCH in different ways. The three current proposals are Bitcoin ABC, Bitcoin SV (Satoshis Vision), and Bitcoin Unlimited.
Bitcoin SV is an opposing liberal branch led by the man often referred to as Faketoshi, Craig Wright. Its vision is to overwrite existing code and increase block size even further, from 32Mb up to 128Mb in order to scale the network even further. It does not have the community support of the other two.
In the third corner is Bitcoin Unlimited which is a compromise between the two above headed by lead developer, Andrew Stone. The upgrade gives more voting power back to the miners to select the changes they want in the network. This would be achieved by switching to the Bitcoin Unlimited client and submitting a Bitcoin Improvement Proposal for proposed changes.
The social media outbursts and claims from some of these crypto pioneers leading up to this technological division have been a source of entertainment in themselves so here are a few
And, no you ABSOLUTE cuck
Bitcoin IS not even close to a soy boy commitee
It is all use hard assed buggers bending you over to show you the light....
On Nov. 15, the Bitcoin Cash (BCH) network faces a contentious fork and many BCH users have been wondering what to do with their funds before the consensus changes. In order to address some questions concerning the upcoming fork, news.Bitcoin.com has outlined some of the options available for BCH proponents.
Cryptocurrencies fork from time to time and more often than not, upgrades are usually quite smooth. However, every once in a while some consensus changes can be controversial and ultimately lead to a blockchain split. At the moment the Bitcoin Cash fork planned for Nov. 15 is in dispute, and the two development teams, Bitcoin ABC and Bitcoin SV, have not yet come to an agreement....
South Korea: stablecoin project Terra and messaging giant Kakao have partnered to launch new payment system based on a blockchain tech
Today is a tough day for cryptocurrencies.
A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto bottom level of this year. The monthly perspective also shows a stable recovery from circa $200 billion, according to data available at CoinMarketCap.com.
A rebound at this point largely depends on the individual performances of the top coins. Bitcoin, for instance, today plunged as much as 2.06% across all the exchanges, forming lower lows towards $6,160. But its bear trend becomes weaker everytime it attempts to breach $6,000-support, as noticed by its price action in the previous quarter performances.
Bitcoin 1D Chart | Source: TradingView.comAccording to the BitFinex chart above, the Bitcoin price is still capped by a strong falling trendline to its north. At the same time, a riding trendline is providing crucial support against the overall bearish sentiment. Bitcoin can reverse from support as it has before, clearing another opportunity for day traders towards their respective long targets in the north.
That said, the entire crypto market can eye a potential upside correction in Bitcoin charts as an indication of a more comprehensive recovery across its space.
Ripples CEO Brad Garlinghouse in his latest comments lambasted Bitcoin as a technologically deprived cryptocurrency. The blockchain official put XRP above BTC, stating that their token would perform impressively in the third quarter of this year. As a result, XRP posted close to 6 percent gains on Monday. A bearish correction ensued, however,...
Police in Tokyo arrest eight suspects that were allegedly involved in a crypto pyramid scheme that lured about $68.4 million in cash and Bitcoin from 6,000 people
Singapore-based crypto exchange KuCoin has raised $20 million in Series A funding backed by IDG Capital, Matrix Partners and Neo Global Capital.
Since cryptos recent lull, optimistic industry insiders have claimed that cryptocurrency investors, whether from retail or institutional backgrounds, have continued to purchase Bitcoin (BTC) en-masse and on the cheap. Although this sentiment has been nothing more than unconfirmed hearsay, research recently completed by Twitter user FlibFlib could indicate that that the aforementioned claims have credence. More specifically, the UTXO set size has seen a slow, but steady rise, even though BTC volatility is nothing more than a distant memory.
You might be thinking: this is all well and good, but what are UTXOs?
Well, for the uninitiated crypto enthusiasts, Bitcoin uses a system based on inputs and outputs to accurately manage transactions and wallet data. While inputs are self-explanatory, outputs, or unspent transaction outputs (UTXOs) to be more specific, can get a bit complicated for crypto fresh meat, so to speak.
Simply put, it is impossible for the Bitcoin Network to split up outputs into fractions. So, to fix this issue, Satoshi coded in UTXOs, which split up outputs into spent and unspent values to create a change system, which makes the accounting process easier. But what does this look like in a real-world scenario?
Lets say Alice receives five BTC in a single transaction, making up all the coins in her wallet. While she may need to only send one BTC to Bob, her wallet will automatically send her full balance, sending one BTC to Bob in a spent output, and four back to herself in a newly-created change address the unspent output.
It is important to note that UTXOs arent present on all blockchain networks, with Ethereum using the simpler accounting mechanism to calculate a wallets balance or transaction amount.
Regardless of your preference of the two systems, UTXOs play a key role in the analysis done by FlibFlib, which surprisingly paints a bullish picture for the cryptocurrency market as a whole.
As alluded to earlier, FlibFlib, an insightful crypto trader and analyst, recently took to Twitter to express his opinions that the growing number of unspent outputs could indicate that Bitcoin is undergoing an accumulation phase.
In an a...
A new firm called Coinmine has announced a device aimed at enthusiasts who'd like to mine crypto, but don't want to learn a new technical skill set.
Major China-based bitcoin mining firm Bitmain has confirmed a report that its board of directors has undergone a shakeup but has sought to downplay that impact of these changes ahead of the companys looming initial public offering (IPO). In an emailed statement, Nishant Sharma, Bitmains international marketing manager, confirmed to CCN that the company had Continued
The post Bitcoin Mining Firm Bitmain Confirms Board Shakeup, Denies Jihan Wu is Out as Chair appeared first on CCN
Coinbase has invested in a new product that lets laypeople mine for cryptocurrency.
Youve probably read a fair amount about cryptocurrency mining but have never thought about doing it. I, for one, would not know where to begin. The process is highly technicaland, for popular coins, it requires spending more on computing energy than what you actually mine. And who even has access to such heavyweight computing hardware?
An official, verified Twitter account owned by Google has become the latest to be hacked to host a crypto "giveaway" scam.
Crypto markets see a wave of red as Bitcoin trades around $200
Bitfinex has announced a new financial instrument on its platform in response to the upcoming hard fork of the Bitcoin Cash blockchain. Noting a sizable increase in short bets on BCH traders apparently believing that the split will have a negative impact on the per-coin price of Bitcoin Cash Bitfinex has created something Continued
The post Place Your Bets! Bitfinex Opens Pre-Fork Bitcoin Cash Futures Market appeared first on CCN
2018 was meant to be the year of security tokens. The number of projects seeking to launch security token offerings (STOs) would mushroom, we were told, and a string of accredited trading venues would emerge where these instruments could be exchanged. The release of two new reports into the STO market provides an opportunity to reflect on whether security tokens have lived up to the hype.
When the utility token craze took off in 2017, raising billions of dollars through initial coin offering...
Although institutional players have continued to throw money at crypto assets and up-and-coming blockchain-focused projects, reports indicate that the mining subset of this industry has faltered, and greatly at that.
In mid-August, NewsBTC reported that some forward-thinking students, like Penn State grad Patrick Cines, had once sought it advantageous and profitable to set up shop mining crypto assets in their dorm rooms. But now, Susquehanna, a Pennsylvania-based trading and technology enterprise, has explained that such small operations are far from feasible.
Per data compiled by the firm, relayed through CNBC, the average Ether (ETH) focused graphics card (GPU) miner has seen their profits dwindle to $0 in the month of November, down from approximately $150 last summer. This collapse in profitability can be attributed to the rise in the Ethereum Networks hashrate, which has more than doubled in the past 12 months, and the ever-growing presence and viability of EthHash ASIC machines.
Susquehanna representative Christopher Rolland explained that even with Nvidias flagship GPU, the GTX 1080, the return-on-investment (ROI) provided shouldnt make financial sense, especially in the long run. And as such, at the current trajectory that profitability is heading, GPU-enabled miners, even those who are looking to accumulate crypto assets for the long-term, will likely flunk out of mining entirely.
So, interestingly, while many have cast aside crypto for being an irrelevant business, reports indicate that Ether and BTCs decline has left much to be desired for computer hardware manufacturers.
Rolland, the aforementioned Susquehanna analyst, told his firms clients that Nvidias cryptocurrency-related revenue will likely be close to zero, explaining that the firms sales to miners are down $100 million quarter-over-quarter. He elaborated:
The ATO publication states that Australians have reported over 28,000 scam attempted associated with the ATO, and have paid nearly $1 million to scammers
South Koreas government requests banks to cooperate with crypto exchanges and provide fair banking services
Bitcoin rewards platform Lolli has raised $2.25 million in seed funding from investors including Bain Capital Ventures.
The development for the WildRig Multi AMD GPU miner continues with the latest 0.12.9 Beta bringing some more performance improvements for various supported algorithms on the table. It fixes the hashrate drops observed with X22i and adds performance improvements for that algorithm up to about 10% compared tot he 0.12.8 release that also brought some speed improvements for all algorithms. There is also a slight boost in performance for the X16r, X16s and X17 algorithms in the latest update.
Do note that the WildRig Multi currently supports only AMD GPUs with the newer RX series and VEGA out of the box and there is a separate download of binary kernels needed for older R9 series Fiji, Hawaii and Tonga. Unlike its predecessor the WildRig Multi miner does not support Nvidia GPUs, it will only work on AMD-based mining rigs. The WildRig Multi 0.12.9 Beta is currently available for Windows, Ubuntu Linux and HiveOS as a closed source binary and with a 2% developer fee built-in by default, though it can be reduced.
The Thai branch of IBM, a U.S.-based global IT company, is set to promote blockchain and AI to turn the country into a major sales hub in the surrounding region
Speaking at the Singapore Fintech Festival this week International Monetary Fund head, Christine Lagarde, said that governments and central banks should work towards setting up their own digital currencies.
She added that a central bank regulated system could become the starting point for rapid expansion into developing economies, reaching some of the worlds poorest without the risks of privately managed blockchains and cryptocurrencies.
The crypto community is likely to eye this approach with caution since the ethos of cryptocurrencies is decentralization from the mainstream banking system. Earlier this week that centralization was clearly demonstrated when the US forced independent European financial services provider, SWIFT, to stop serving Iran, crippling its international banking options. Additionally a banks involvement is likely to slow down transactions and increase their costs, to the profit of the bank, again which totally against the purpose of public cryptocurrencies.
Lagarde added that the banks could take over the handling of transactions while the private sector would offer additional services to clients.
The advantage is clear. Your payment would be immediate, safe, cheap, and potentially semi-anonymous. And central banks would retain a sure footing in payments. In addition, they would offer a more level playing field for competition, and a platform for innovation. Meanwhile your bank or fellow entrepreneurs would have ensured a friendly user experience based on the latest technologies, She said before adding Putting it another way. The central bank focuses on its comparative advantage back-end settlement and financial institutions and start-ups are free to focus on what they do best client interface and innovation. This is public-private partnership at its best.
Blockchain can offer a number of advantages over the existing banking system such as immutability, speed and cost savings, and anonymity. The latter point, however, is a concern for the IMF and central banks who strive to keep a vice-like grip of control over the flows of the worlds finances.
According to the Guardian, Lagarde said that many are still wary of u...
Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered. For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after Continued
The post Bloodbath: Crypto Market Drops in $8B Wipeout; Bitcoin Cash Down 24.4% in 1 Week appeared first on CCN
Bitcoins (BTC) price woes may not be over just yet, as a specific "death cross" indicator is about to reoccur for the first time in four years.
More malware is targeting internet users in the form of WebCobra Monero miner, McAfee Labs reports
SRBMiner V1.7.0 Full Cangelog:
Speed increase on BitTube/Haven/Heavy/Italo algos up to ~10% (depends of gpu)
Small speed increase on V8 algo for Vegas
Added new algo CN-Dark [CryoNote]
Added new algo CN-Fest [Festival coin]
Added startup monitor which monitors miner startup process
Added new work mode for GPU hashrate watchdog
Added yet another gpu tuning parameter aes
Fixed a bug related to hash speed monitor and algo switching
Small bug fixes
Q Exchange sees condemnation of Thai regulators for offering unlicensed services
In this edition of The Daily, we report on Coinchecks decision to resume nem (XEM) trading and relist two other coins ether (ETH) and lisk (LSK). Also, Digital asset exchange Okex has added support for the Vietnamese fiat currency on its C2C platform and we cover the reasoning behind the move. Also in The Daily, a Canadian company has reached an exclusive agreement to negotiate the acquisition of a large European cryptocurrency exchange.
Japanese digital asset exchange Coincheck has resumed trading of three digital coins including nem (XEM), the cry...
The Managing Director and Chairperson of the International Monetary Fund (IMF), Christine Lagarde, has called on central banks around the world to consider issuing digital currencies. According to Lagarde, the state has a role to play in injecting money to the digital economy and it was, therefore, necessary to consider the possibility to issue digital Continued
The post IMF Chief Lagarde: Central Banks Should Consider Issuing Digital Currency appeared first on CCN
Finbitex is a revolutionary trading platform gaining the attention of traders, mainly due to the comprehensive trading experience which they could never enjoy before. It is a well-reputed and well-established broker, dealing with a range of cryptocurrencies, and offering more than a cutting-edge crypto trading technology.
The platform is well known for its insightful trading info section, fully packed with detailed explanation regarding digital currencies, account management, trading trends, and more. It also offers 24/6 trading support to enable its users to make the most out of it.
Finbitex gives their clients a simple trading platform for Crypto CFDs, that is called TraderSoft. Many Crypto trading and Forex brokers are now using this trading software because it is very easy for newbie investors to learn and understand. With this broker, the only underlying assets available for trading are cryptocurrencies. Some of the supported cryptocurrencies on Finbitex include Bitcoin, Monero, Litecoin, Ripple, Ethereum and other 30+ tokens. However, the platform may soon extend support for more cryptocurrencies in the future.
Capable Team, Strong Performance
Founded by a team of dedicated finance pros with over 50 years of Forex, Commodities, Crypto and Banking experience, Finbitex is one of the most trusted and smartest crypto trading platforms. The platform has grown rapidly in the recent past. What started as a small-scale 4-man operation a year ago has now grown to 48 members spread across two offices catering to 5000 active traders.
Features to Make Trading Easier
Finbitex has developed a range of special products that are offered to qualified clients on a constant basis, enriching their trading experience. These include:
The ICX investors woke up one morning and found the total circulating supply of their coin increased by 18 percent. Things didnt go well after that.
Many investors took Reddit to complain about the overnight ICX token supply pump. They argued that the team behind the blockchain startup neither published any explanation nor they consulted the community before taking the major decision. The arguments metamorphosed as they highlighted other pressing matters related to ICONs $5 million ICX buyback program, development delays, and yellow paper update.
A clarification from Marcus, the projects venture capitalist and partner accelerator, surfaced on Tuesday. He promised that communications would be improved hereon. He also said that ICON team would post a full clarification on the pressing matters, but provided his take on why the project development was slowing down as of late. Excerpts:
They were a massive drain on ICON resources that required full-time positions which pushed back specific initiatives. For example, ICONs former technical director, Hongkyu Lee, currently leads the joint venture of ICON & LINE as its CEO.
Marcus didnt mention the increased token supply in his clarification. There is, however, an independent investigative report that provided some insights into the matter. The ICONist on November 2 published an article revealing that ICON was freeing up some tokens to distribute them among community groups and strategic partners. The projects whitepaper speaks about such an allocation indicating that these new contractual groups are accepting ICX tokens as payments.
Accepting a part of payments in native tokens has been a common practice across the ICO industry. It allows the team to participate in project...
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 global cryptocurrency stock exchange Bithumb is holding its third commemorative event in celebration of its fifth anniversary.
The Super Airdrop Festival event has two parts, the Login Event and Air Drop Event, and is open to participation for anyone who is a Bithumb member.
Members can participate in the Login Event until December 11th by logging into Bithumb and clicking on the enter event button. In this event, 15 Bitcoins (valued at USD 97,789 as of today) are provided to one winner, who is selected by lottery after the event is concluded. The winner is scheduled to be announced on December 24th.
In the Air Drop Event, prize money is given to top 500 with the greatest amount of accrued transactions in the past week. As for prize money, 7 Bitcoins are given to first place (1 person), 100 Ethereum coins are given to second place (4 people), and 8,000 Ripple coins are given to third place (10 people) every Wednesday.
In addition, Bithumb is selling a coupon for 10,000 KRW that allows holders to use Jet Cash, Monero, Dash, Bitcoin Gold, OmiseGO (total of 5 Coins) for free for one hour.
The Air Drop Event is to be continued until further notice, and the event conclusion date is expected to be announced prior to the date.
Furthermore, Bithumb plans to extend the new membership event that it has been holding since last month for foreign members. Bithumb will give out 20,000 Bithumb cash for those who sign up for membership and pay for 20,000 KRW (based on Bithumb cash) worth of transactions within the event period, from November 15th to December 19th.
According to Head of Marketing Department of Bithumb...
Researchers at computer security firm McAfee Labs discovered a lethal new cryptojacking malware called WebCobra, which steals victims computing power to mine the cryptocurrencies Monero or Zcash secretly. The spike in cryptocurrency prices has inspired a new wave of cybercriminals, who use malware to cannibalize unsuspecting victims computers to mine crypto. Infections Spotted In Brazil, Continued
The post WebCobra: McAfee Spots Russian Malware Mining Monero and Zcash appeared first on CCN
The slow decline in crypto markets has continued as the week draws on. Falling back below $210 billion total capitalization, cryptocurrency prices keep dropping albeit at a very languid pace.
Bitcoin is losing steam and has not been able get back above $6,400 since a little spurt on Monday. BTC is currently trading down again today, though losses are minimal and it is priced at $6,350 right now. The daddy of crypto is still ranging though volume has increased over the past couple of days, a drop below $6,300 could lead to heavier losses. Ethereum is following suit with another 1.5% decline on the day taking it to $206.
Red is the dominant colour on the altcoin charts, and it has been since the weekend. In the top ten only one coin is making a gain at the moment and that is Bitcoin Cash which has risen to 2% to $519. The rest are extending losses with Stellar leading the pack dropping 4.5%. EOS and Cardano have both lost 2 3 percent on the day.
Top twenty losses are even bigger with Nem dumping almost 10% from its big surge yesterday. XEM couldnt hold on to that billion dollar market cap and has slid back again. Zcash and VeChain are both dropping 4 5 percent on the day and Tron losing over 2%. Only Ethereum Classic is in the green in the top twenty with a 1% push to $9.21.
A new entry to the top one hundred is making the fomo pump today and that is Etheera. Climbing 11% this Swiss based real estate token has made it to 79th spot. Up even more Sirin Labs Token jumping 18% but these are likely to dump as quick as they have pumped in the next few days.
A prime example is yesterdays pump, Eternal Token, which is now dumping 30% today and dropping out of the top one hundred. Another previous pumper, WAX, is also falling fast with a 15% slide on the day.
Total crypto market capitalization has slid back, dropping one percent on the day to just below $210 billi...
Bitcoin price is placed in a bearish zone against the US Dollar. BTC/USD could recover, but upsides are likely to be capped around the $6,340 level.
During the past three sessions, there were bearish moves below $6,350 in bitcoin price against the US Dollar. The BTC/USD pair declined recently and broke the $6,300 and $6,275 support levels. There was even a spiked below the $6,250 support and the price formed a new monthly low at $6,239. The price recovered a few points above $6,275, but it is still well below the 100 hourly simple moving average.
An initial barrier for buyers is near the 50% Fib retracement level of the recent drop from the $6,375 high to $6,239 low. More importantly, there are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair. Below the second trend line, the 100 hourly SMA is positioned at $6,325. Besides, the 61.8% Fib retracement level of the recent drop from the $6,375 high to $6,239 low is near $6,323. Therefore, if the price corrects higher from the current levels, it is likely to find a strong selling interest near $6,320 and $6,340.
Looking at the chart, bitcoin price is clearly in a bearish zone below the $6,350 pivot level. On the downside, an initial support is near $6,240, below which the price could slide towards the $6,200 support.
Looking at the technical indicators:
IMF head says organization does not discount the idea of states launching central bank digital currencies
The Bank of America has won a patent for a system for enterprises to store customers crypto deposits
Susquehannas analysts say that due to the slump in crypto markets and declining network hashrates, mining Ethereum using a GPU is no longer profitable
A trial conducted by the Commonwealth Bank of Australia and the Data61 unit of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has proven that blockchain-powered smart money possesses immense social and economic benefits for Australias insurance scheme for persons living with disabilities. In the proof of concept, it was demonstrated that participants in Australias Continued
The post Australias Science Agency & Commonwealth Bank Trial Blockchain Smart Money appeared first on CCN
Christine Lagarde, head of the IMF, encouraged the exploration of central bank digital currencies in a speech on Wednesday.
Ripple price is struggling to gain bullish momentum against the US Dollar and Bitcoin. XRP/USD may continue to consolidate below $0.5200 for the next few sessions.
After testing the $0.5200 resistance, ripple price declined once more against the US Dollar. The XRP/USD pair formed a swing high at $0.5255 and traded below the $0.5150 level. There was even a close below the $0.5100 level and the 100 hourly simple moving average. The decline was such that the price spiked below the $0.5000 support. However, the price recovered later and it is currently consolidating above $0.5000.
An initial resistance is the 23.6% Fib retracement level of the recent slide from the $0.5255 high to $0.4970 swing low. There is also a major bearish trend line in place with resistance at $0.5120 on the hourly chart of the XRP/USD pair. Around the trend line, the 50% Fib retracement level of the recent slide from the $0.5255 high to $0.4970 swing low is positioned at $0.5114. Therefore, if the pair corrects higher, it could find a strong resistance near $0.5115 and $0.5120. Above the trend line, the next major hurdle for buyers is near the $0.5200 level. On the downside, an initial support is at $0.4970, below which the price could revisit $0.4860.
Looking at the chart, ripple price is clearly under pressure below the $0.5200 resistance area. If buyers continue to fail to gain traction, the price may perhaps decline towards $0.4860 or $0.4700.
Over the last 24 hours, the crypto market has seen a drop of $3 billion from $212 billion to $209 billion, as major cryptocurrencies including Stellar (XLM) and Cardano (ADA) have fallen by 3 to 6 percent. Peculiarly, Stellar and Cardano are amongst three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, Continued
The post $3 Billion Deleted From Crypto Market as Major Digital Assets Perform Poorly appeared first on CCN
Cardano price is slowly moving lower against the US Dollar and Bitcoin. ADA/USD could accelerate declines towards the $0.0720 support in the near term.
Recently, cardano price settled below the $0.0800 support level against the US Dollar. It resulted in a fresh decline and the ADA/USD pair declined below the $0.0780 support and the 100 hourly simple moving average. During the decline, the price traded below the 50% Fibonacci retracement level of the last major wave from the $0.0703 low to $0.0820 high.
More importantly, there was a break below a key bullish trend line with support at $0.0760 on the hourly chart of the ADA/USD pair. The pair settled below the $0.0760 support, which is a short term bearish sign. The next support is near the $0.0730 level. It represents the 76.4% Fibonacci retracement level of the last major wave from the $0.0703 low to $0.0820 high. Below $0.0730, the price will most likely decline towards the $0.0720 support area. If there is an upside correction, the $0.0760 level and the 100 hourly SMA are likely to act as hurdles. Above the $0.0760 resistance, the price may resume its upward move.
The chart indicates that ADA price moved into a short term bearish zone below the $0.0760 support and the 100 hourly SMA. If buyers struggle to push the price back above $0.0760 and $0.0762, there could be more losses towards $0.0720.
Hourly MACD The MAC...
A local Arizona police department is warning residents in the area of a potential blackmail scam involving Bitcoin.
Paradise Valley, Arizona police department is warning residents via its official social media accounts of a blackmail letter being sent around that attempts to scare recipients of the letter into sending Bitcoin or risk having their dirty laundry exposed. The letter, which appears to try and extort $9,200 in Bitcoin from Paradise Valley residents, was sent by snail mail and includes text threatening to expose evidence of an affair.
I know about the secret you are keeping from your wife and everyone else, the letter reads.
The blackmail letter is authored by a criminal going by the alias GreyCircle54 and claims to know about a secret and even claims to have evidence of this secret. GreyCircle54 essentially claims that they werent specifically targeting the person, and did not go out looking to burn the recipient of the letter, however, they happened to discover the evidence and are using it to threaten innocent individuals that may have a guilty conscience.
Related Reading: Another Rapper Sued in Alleged Crypto Scam
GreyCircle54 gives the recipient two paths: pay up, or be exposed.
The scam is only effective if the recipient is having an affair, however, it was enough to frighten Paradise Valley residents into reporting the issue to the local authorities. Police have a copy of the letter as evidence.
This isnt the first time this Bitcoin blackmail scam reared its ugly head. Back in August, the United States Federal Trade Commission (FTC) Division of Consumer and Business Education, whose mission is to educate consumers on how to protect themselves, issued a warning via a blog post entitled How to avoid a Bitcoin blackmail scam....
Ethereum price extended losses against the US Dollar and bitcoin. ETH/USD could continue to move down towards the $200 or $198 support level.
During the past three sessions, there were bearish moves in ETH price below the $210 resistance against the US Dollar. The ETH/USD pair failed to recover and broke the important $206 support to move into a bearish zone. Sellers took control and pushed the price below the $204 level. The price traded as low as $202 and it is currently well below the 100 hourly simple moving average.
At the moment, the price is consolidating losses above $202. An initial resistance is the 23.6% Fib retracement level of the recent slide from the $210 high to $202 low. However, the most important resistance is near the $206 level, which was a support earlier. More importantly, this weeks followed key bearish trend line is still in place with resistance at $208 on the hourly chart of ETH/USD. Below the trend line, the 50% Fib retracement level of the recent slide from the $210 high to $202 low is positioned at $206.50. Therefore, if the price corrects higher, it is likely to face a solid selling interest near the $206-208 resistance zone.
Looking at the chart, ETH price is under pressure below $206. If there is a downside break below $22, the price may even test the $200 handle. The next support below $200 is near the $198 level.
The blockchain and cryptocurrency ecosystem is well represented in this years Forbes 30-Under-30 list, with four young founders and CEOs aged between 25 and 28 featured for their work on crypto finance, blockchain scaling and crypto asset management. Olaoluwa Osuntokun (25), Nader Al-Naji (26), JB Rubinovitz (26) and Hunter Horsley (28) have made their debut Continued
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Bitcoin cash price mostly consolidated near $500 against the US Dollar. BCH/USD must break the $530-540 resistance zone for a decent recovery.
Yesterday, there was another break below the $500 support in bitcoin cash price against the US Dollar. However, the BCH/USD pair found support near the last swing low at $496 and later recovered. It traded above the $505 and $510 resistance levels to start a recovery. The price climbed above the 50% Fib retracement level of the recent decline from the $562 high to $496 low.
Moreover, there was a break above a key bearish trend line with resistance at $510 on the hourly chart of the BCH/USD pair. However, the price struggled to break the $535-540 resistance zone and the 100 hourly simple moving average. Besides, the price was rejected near the 61.8% Fib retracement level of the recent decline from the $562 high to $496 low. As a result, the price retreated and traded below the $520 level. At the outset, the price seems to be consolidating above the $500 level. Buyers must clear the $530, $535 and $540 resistance levels to start a decent rebound.
Looking at the chart, BCH price may continue to stay above the $500 support area. Having said that, if buyers continue to fail near the $535 level, the price may perhaps break the $500 and $495 support levels.
Looking at the technical indicators:
Xerox awarded patent for blockchain-based management system that tracks amendments to digital documents
The Twitter account of Googles G Suite was reportedly breached to lure users into a 10,000 Bitcoin giveaway scam
Blockchain technology will power a monumental shift in society from a scarcity to an abundance mindset. These were the words of Ethereum co-founder Joseph Lubin speaking last week at the Web Summit in Lisbon, Portugal. Lubins Blockchain Impact Theory Delivering his keynote address at the event, Lubin, who is also the co-founder of Ethereum development Continued
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With interstellar, blockchain air drop, BancorX and recent Bosch device development, the altcoin ecosystem is vibrant. But, this is yet to translate to meaningful gains. As a matter of fact, LTC/USD could print $30 by the end of the month in stark contrast with smart contracting and IoT platforms as ADA/USD and IOT/USD. Both are steady and trading within a bull breakout pattern that could lift their valuation higher as buyers aim at 12 cents and 60 cents respectively.
Lets have a look at these charts:
Thanks to yesterdays three percent loss, EOS is $500 million away from dropping outside the top five. Its even worse for traders and with Block One having to clarify if indeed on-chain transactions are cryptographically validated, prices are losing steam dropping towards $5. Nonetheless, like before, we shall take a neutral stand until after prices break above this horizontal consolidation above $7 or dip below our immediate support at $5.
Of course, it will be deflating for hodlers to contend with more losses if price action confirms Oct 11 losses. This is so because losses will increase odds of EOS/USD printing at or below $4 by end of this month. Either way, any bullish breakout and first target will be $9 while declines below $4 means bears should aim at $1.5.
Even with Coindroid endorsement, Litecoin is literally struggling against bears. Prices are back in red as LTC/USD drop five percent in the last week and roughly two percent in the last day.
Aside from EOS and Stellar Lumens which are recent inventions, it still beat logic that CoinBase is yet to list XRP. While it is understandable that CoinBase can practice their discretion and list any coin that adheres to their listing framework, XRP is a liquid asset and far more than just being a tradable instrument. The coin is a real utility that banks can use to move funds across the world. As it fashion itself as superior alternative to SWIFTa global payment system that has been in operation since 1972 and wholly owned by banks, Ripple and XRP are still struggling with legal challenges.
With lawsuits, CoinBase are not taking a chance despite decentralization efforts than has since seen reduction of Ripples grip on the coins validation to 48 percent. Until the security stain clears, speculation would continue to affect prices in one way or another more so if the exchange goes on and list Stellar Lumens (XLM) or ADA.
Basic Attention Token (BAT) is launching at https://t.co/bCG11KveHS and in the iOS and Android apps within the next 15 minutes. You may need to update your app to properly buy and sell BAT. We will update when BAT is fully live. https://t.co/YgLcxAaMiT
Coinbase (@coinbase) November 8, 2018
These coins were amongst the five coins under exploration of which BAT and ZRX are now available at the exchange.
Regardless, Ripples drive seems to be paying off. Through a fruitful partnership with Amex and LianLian Group, the multi-billion e-commerce industry in China will in a year experience the fluidity, speed and efficiency of RippleNet after Amex were given the go-ahead to by Chinese o...
Thing is, Bitcoin is just more than a medium of exchange. In 10 short years, the worlds most valuable coin has evolved from being a Cypherpunk thing to a medium of exchange and now it is a solid store of value. It has been so thanks to last years super rally. Bitcoin position as a store of value has been also been strengthened by hyperinflation in countries as Venezuela and embargoes on countries as Iran.
In Venezuela, records indicate that citizens are buying Bitcoins in droves despite sinking prices and government attempts to stem crypto adoption through closure of crypto exchanges and businesses accepting cryptocurrencies. Its ironic because as they do crack down on a global phenomenon, the government is promoting their own coin, the Petro.
While wishing strength to the people of these great countries going through economic hard times, https://t.co/5K1CEvSfEy is proud to play a role in taking BTC where it is most needed.https://t.co/mfD93zLC3W
LocalBitcoins.com (@LocalBitcoins) November 1, 2018
LocalBitcoins data show that the countrys citizens fear holding the Bolivar thanks to the 800,000 percent inflation that has drastically reduced their purchasing power. Although transacting via crypto is risky, BTC is the only viable alternative whose volatility is relatively low and global meaning it has no central point of control or issue.
Meanwhile in Chinese provinces of Xinjiang and Guizhou, mining activities were halted as government officials rein down on crypto mining operations conducting real name registration checks and tax compliance.
More about Bitcoin: Crypto Analysts: Bitcoins Calm Indicates Market Will Explode in 2019
Japans GMO Internet has postponed the shipments of its two lines of 7nm bitcoin mining rigs. A representative of the company has clarified the situation to news.Bitcoin.com, noting that some refunds have already been issued. In addition, the company is planning to relocate its mining operations.
GMO Internet announced on Monday that it has postponed the shipments of its 7nm ASIC bitcoin mining equipment. The company has two lines of mining rigs: B2 and B3. The former was scheduled to start shipping at the end of October and the latter in November.
A representative of GMO revealed to news.Bitcoin.com on Tuesday that the shipments of both lines have been postponed, elaborating:
It is because the parts we need for o...
An Ontario Superior Court Judge has ruled with the Canadian Imperial Bank of Commerce in a dispute with a crypto exchange regarding $19.6 million in frozen funds
Michigans campaign finance board has formally indicated that campaign donations made using cryptocurrency are not allowed in the state. In a November 8 letter addressed to Michigan state legislature candidate William Baker, who earlier made an inquiry on the issue before losing in the recent mid-term elections, the Michigan Department of State informed Baker that Continued
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One of the cryptocurrency industrys leading research groups, Diar, has announced that it will be expanding its coverage of the digital asset space going forward.
Amongst the additional areas focused upon in future editions will be the Ethereum ecosystem, along with the ever-expanding list of stablecoins such as Tether and the Gemini Dollar.
In its short existence, the Diar cryptocurrency journal has become one of the most respected resources in the digital asset industry.
Its weekly newsletters provide extensive coverage of Bitcoin, the institutional interest in the space, and a select number of cryptocurrency trading platforms. Countless publications, including NewsBTC, reference the work of Diar when creating their own content.
Going forward, Diar will be focusing on Ethereum, stablecoins, blockchain lending, global markets, and other areas not specified by name. Fadi Aboualfa, the publications founder and editor-in-chief, announced the decision via a post taking the position of the usual weekly newsletter yesterday.
The Diar cryptocurrency journal was started just over a year ago in late October 2017. According to the post, it was designed to become a benchmark resource for long-term perspectives on digital currencies.
Aboualfa stated that, going forward, Diar will continue to cover the same kind of topics as those featured previously, with the addition of the extra areas previously mentioned. This should better position those creating content for the service to continue to deliver on the publications stated goals:
The intent of the platform is to provide an economic health outlook and state-of-play for the many moving parts of the digital assets industry.
Diar have also appealed to their readership to provide feedback on their coverage of the digital currency space. Those wanting to give comments or suggestions are encouraged to email the publication.
Finally, Aboualfa expressed thanks to some of the main contributors of data to the Diar platform. These included: Coin API, Nomics, Blockchain, Blockchair, and Coinmetrics.
The operator of German crypto trading platform bitcoin.de has acquired a 100% stake in investment bank Tremmel, along with rights to operate under the institutions banking license
A number of high profile, verified Twitter accounts including retail giant Target and The Body Shop were hacked in what appears to be a coordinated campaign to promote yet another iteration of the now-ubiquitous crypto giveaway scam. A series of tweets by verified Twitter handles endorsing the bitcoin giveaway scam were highlighted by a number of Continued
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Trefis analysts have predicted that Nvidia will see strong GPU sales growth in Q3, but sales related to crypto activities will remain in a downtrend
The official, verified Twitter account of a leading U.S. retailer has been compromised by hackers, who are leveraging the account to steal cryptocurrencies from investors in an apparent giveaway scam.
Determined cybercriminals have, reportedly, gained access to the verified Twitter account of U.S. retail giant Target, and used the 1.92 million follower account to launch a cryptocurrency giveaway scam a type of scam frequently plaguing the popular social media platform for the better part of a year.
Hackers pose as businesses, celebrities, and influential cryptocurrency industry figure heads even the President of the United States and offer to send Twitter users a specified amount of cryptocurrency as part of a giveaway.
However, users are first required to send a smaller portion of the same cryptocurrency, in order to be eligible for the larger sum. Only once the initial amount is sent the hackers never follow up with their end of the bargain, and pocket any assets sent as part of the scam.
In this particular instance, the Target account was offering a total of 5,000 Bitcoin to all community.
The tweet included an image with a Bitcoin address in it, which according to blockchain transactions show that the hackers were able to make off with about $38,000 of investors hard-earned cryptocurrencies. Target deleted the original tweets, but have since issued a statement.
Early this morning, our Twitter account was inappropriately accessed. The access lasted for approx. half an hour & one fake tweet was posted during that time about a Bitcoin scam. We have regained control of the account, are in close contact with Twitter & are investigating now, Target said in a tweet.
Whats worse, is the tweet was approved to run as a paid promotional tweet by Twitter themselves, who review advertisements before approving them to run on the platform.
This widespread issue only appears to be growing from here,...
Ripple CEO Brad Garlinghouse went on Bloomberg TV for an interview about the usefulness of his companys technology and told the interviewer that any digital asset in the long-term is going to be valued based upon the problems its solving. Garlinghouse: SWIFTs Customers Think Blockchain Has Promise Ripple is widely believed to be solving the Continued
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A cryptocurrency fund that is scheduled for launch early next year believes that the current slump in prices is distracting people from the ever-growing adoption rates of both consumers and investors alike.
Circuit Capital has also created an index to measure mainstream adoption of blockchain-related technologies.
According to a report in Bloomberg, the founders of a new San Francisco-based cryptocurrency hedge fund believe that the poor performance of digital asset prices during 2018 has made it more difficult to observe the ever-rising interest in the space from both consumers and investors.
Former Deutsche Bank derivatives and Circuit Capital co-founder, Eugene Ng, told the publication:
Despite what is happening with prices, were seeing adoption growing and a lot of people are looking to scale crypto businesses We are starting to see talent moving into this space and institutional infrastructure developing.
Likewise, the coming Bakkt platform from the Intercontinental Exchange (ICE) and the interest multitrillion-dollar asset manager Fidelity Investments has shown in the space also represents an evolution of the underlying digital asset investment infrastructure.
Meanwhile, many individuals are turning their backs on employment in the traditional finance sector in favour of positions at cryptocurrency startups. Recent hires by Coinbase and others are examples of such a migration of talent.
Circuit Capital is hoping to ride the next wave of investor interest. It plans to raise $30...
A recent survey by logistics firm Hermes shows that one third of German logistics managers believe that blockchain will improve cooperation within supply chains
When the bitcoin price flatlined near $6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship Continued
The post Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo appeared first on CCN
Thailand's Democrat Party has become the first political party
to use blockchain technology to elect its leaders in a primary
election, which was held from November 19, 2018. In a live e-voting
system, more than 120,000 party faithful cast their votes in a
transparent way that saw former Thai Prime Minister Abhisit
Vejjajiva winning his party nomination with 67,505 votes.
Party members were able to vote using two methods. The first method was through voting stations that utilized a Raspberry Pi-based system. Voters were also able to vote via a blockchain-based mobile app that asked voters to submit their photo ID.
The identification documents used to verify party members and the voting tallies were both encrypted and stored on the InterPlanetary File System (IPFS), a decentralized and distributed file system for storing large volumes of data. IPFS uses a peer-to-peer protocol where nodes store a collection of hashed files on a network.
For this election, the IPFS hashes were stored on the Zcoin blockchain, which acted as an "immutable database and provided auditability to the Thai Election Commission and the Democrat Party candidates."
I am very proud that Zcoin played a role in making Thailands first large-scale e-vote, a reality, which saw greater voter participation and transparency, Poramin Insom, founder & lead developer of Zcoin, noted in a public statement.
To keep the voting data and documents safe, the encryption keys were split using the Shamir's Secret Sharing Scheme, which works similarly to a multi-sig key used for crypto wallets. With a multi-sig key, multiple private keys are required to access the funds.
With the Shamir Scheme, multiple custodians are required to decrypt the voting data. At the recently concluded primary election, five individuals were needed to decrypt the voting data; representatives of each candidate, an official from the Thai Election Commission and a representative from the Democrat Party.
I believe weve achieved a huge milestone in our countrys political history and hope that other political parties or even the government, not just in Thailand but the region, can look to using blockchain technology in enabling large-scale e-voting or polling, Insom stated.
Earlier this month, West Virginia ran a blockchain trial in the federal general election for military and...
According to recent reports, Chinese cryptocurrency mining giant, Bitmain, is undergoing a major leadership shuffle as the company restructures its board of directors ahead of its imminent IPO on the Hong Kong Stock Exchange (HKEX).
Bitmains upcoming IPO is expected to set a record for the cryptocurrency industry and will likely solidify Bitmains market share of the mining industry and help further position the company as one of the largest cryptocurrency-related companies in the world.
Recent reports from a Chinese-based cryptocurrency news outlet, 8Btc, claim that four out of six directors have resigned from Bitmains board ahead of the IPO, with the companys founder and CEO, Jihan Wu, resigning as the boards executive director, and now serving as the supervisor.
A lawyer familiar with the company spoke to 8Btc, saying that Jihans position change has forced him to forfeit his voting rights.
As a director, Jihan had the right to vote when the board makes decisions. However, after changing to a supervisor, his power becomes smaller that he can no longer vote. As thus, Wu will be unable to participate in the business decision-making but only serve as a supervisor, the unnamed lawyer explained.
The report importantly noted that the shakeup of the board does not affect the roles that the leaving members play in the company itself, and that their departure from Bitmain is isolated to the board.
The report explained this, saying that:
According to a securities authority close to Bitmain, media reports about the companys directors quitting the board was misread. The main body of Bitmain to be listed is Bitmain Technology Holdings Limited, while the personnel change happens in a wholly-owned subsidiary of Bitmain.
Although the reasons behind the restructuring of the board remain somewhat unclear, it is likely that it is in an effort to meet requirements from regulators or exchanges that may require companies to streamline their management operations prior to their listing.
Companies preparing for IPO usually se...
The Bitfury Group has
acquired a minority stake in blockchain services firm Final Frontier. Both
organizations are looking to utilize each others knowledge and
experience in the traditional and digital finance spaces to
potentially release a new line of financial products and services
designed to assist professional investors in getting their hands on
Our mission is to be the bridge for institutions from traditional finance to enter this innovative asset class, said Final Frontier co-founder Imraan Moola in a public statement. Bitfurys technological expertise, combined with our financial markets know-how and track record will allow us to create unique and differentiated financial products and solutions to service our sophisticated investor base.
Bitfury is a full-service blockchain technology company that started out with a focus on cryptocurrency mining. Among the companys latest hardware releases are semiconductor chips and mobile data centers.
Bitfury is also the developer behind other blockchain projects including Exonum, a private blockchain framework; Crystal Blockchain, an advanced analytics platform; and LightningPeach, an open-source Lightning Nnetwork project.
Based out of Switzerlands renowned Crypto Valley, Final Frontier is a cryptocurrency and blockchain investment firm. Among the ventures main goals are helping professional traders and investors enter the crypto space.
Bitfury CEO Valery Vavilov states, This is a ground-breaking partnership between a blockchain technology firm and an experienced team from traditional finance. With the blockchain space institutionalizing, we consider it an important step forward for the entire ecosystem and for our own mission to be the worlds leading full-service blockchain company.
News of the partnership comes only days after Bitfury closed a Series C, $80 million funding round led by Korelya Capital. Funds will be used to further develop the companys exploration of emerging technology and boost its software and hardware equipment. Its partnership with Final Frontier raises questions about whether Bitfury may be trying to expand its reach into investment services.
Bitcoin Magazine reached out to Bitfury for comment. The company said that it was unable to provide more details at this time, but it was looki...
Bitcoin Group SE has bought 100 percent shares of investment bank Tremmel for an undisclosed amount. This is the German digital currency exchange operators second acquisition in 2018. Bitcoin Group, which holds current assets of $40 million, said Tremmel allows it to issue its own cryptocurrency-related products, conduct proprietary trading and operate bitcoin ATMs.
The Frankfurt Stock Exchange-listed company operates Bitcoin.de, Germanys only regulated digital currency exchange, trading BTC, BCH and ETH. It hopes to use Tremmels banking license to expand the range of its service portfolio. For example, Bitcoin Group said it is now possible for the trading platform to maintain an order book and even quote prices, while simultaneously ensuring more liquid trading.
We are very pleased that in Tremmel Wertpapierhandelsbank Gmbhwe have been able to gain an excellently positioned partner with in-depth knowledge of the market, Marco Bodewein, managing director of Bitcoin Group, said in an online statement on Nov. 1...
Ripples legal team in their ongoing securities
suit is attempting a new tack: to have the claim proceed at the
In a move that legal commentator Jake Chervinsky described as seriously crafty, Ripple has filed a formal notice-of-removal motion to have their most recent securities suit, Zakinov et al v. Ripple, tried in a federal court rather than at the state level.
In the notice of removal, the defendants, which include Ripple and its CEO Brad Garlinghouse, among others, request that the court remove the civil action, and all claims and causes of action therein, from the Superior Court of the State of California, County of San Mateo, to the United States District Court for the Northern District of California.
The class action is a consolidation of three separate suits filed by Vladi Zakinov, David Oconer and Avner Greenwald on behalf of all California citizens who purchased or otherwise acquired XRP from January 1, 2013 to the present. It claims that since Ripple has failed to register with the U.S. Securities and Exchange Commission (SEC), XRP has been sold as an unregistered security, and the combined class action is seeking nearly $17 million in damages.
Swamped with legal troubles, Ripple has sustained several legal challenges to their sale of XRP tokens, with many alleging that these token sales constitute securities fraud. Although Ripple has yet to face any serious consequences as a result of these battles, facing three securities suits in a single year could prove to be a serious strain on Ripples resources.
This latest attempt to plead their case at the federal level may set vital precedent, if successful. A federal clarification on the interaction of securities laws and token sales could shut down future cases before they even begin.
This appears to be the pretext for attempting to move this suit to a different court system, at least. As Chervinsky...
A little-known cryptocurrency called AurumCoin (AU) has claimed that it was hit by 51 percent attack, and crypto exchange Cryptopia, where the cryptocurrency is listed, lost 15,752.26 AU (approx. $550,000 at the time of writing this article). However, the cryptocurrency has shifted the blame on Cryptopia. On AurumCoins website, it has claimed that it is not Continued
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Cryptocurrency markets have suffered a slight drop on the day, with BCH being the only coin out of the top 10 to see some gains
A Canadian judge ruled that CIBC, which froze some $26 million CAD claimed by QuadrigaCX, must transfer the funds under dispute to the court.
Bitcoin on Tuesday extended its downward momentum, dropping 0.67-percent against the US Dollar. The BTC/USD trading pair opened the Asian trading session at 6288-fiat and attempted an upside correction to as high as 6309-fiat. The selling pressure around the 6309-level resumed the downtrend. As a result, the pair kept forming red candles for the rest Continued
The post Bitcoin Analysis: Falling Wedge Indicates Interim Breakout Scenario appeared first on CCN
Chinese mining giant Bitmain is suing an anonymous hacker that
allegedly stole $5.5 million in cryptocurrency last April from the
companys account on the digital exchange Binance.
The hackers identity is still unknown, and hes described only as John Doe in official court documents, which were filed in accordance with the lawsuit on November 7, 2018, with the U.S. District Court for the Western District of Washington in Seattle. The documents state that the hacker managed to take over the companys Binance account, then use bitcoin stored in the account to purchase ether tokens. These tokens were utilized to buy and manipulate the price of an altcoin known as MANA coin (MANA).
John Doe then transferred the MANA into a separate Binance account they controlled. The documents explain, Upon further information and belief, John Doe took his/her market manipulating and theft scam a step further by essentially reversing the same orchestrated trades between Bitmains wallet and John Does wallet using a deflated MANA price. While accessing Bitmains digital wallet without authority, John Doe placed an order to sell MANA out of Bitmains digital wallet at a deflated price. At the same time, John Doe placed a purchase order for MANA at that deflated price from John Does Binance wallet.
They continue to say, Binances automated system matched the deflated MANA sell order with the deflated MANA purchase order and executed the trade, and John Doe obtained significant gains at the expense of Bitmain. As a result, John Doe benefitted twice from transferring MANA into and out of Bitmains digital wallet.
Once these steps were completed, the court filing reports that the hacker transferred all the crypto funds from the theft into a wallet on Bittrex, a competing digital asset exchange. John Doe then cashed in on the profits and disappeared.
The documents say the hacker willingly and knowingly accessed a protected computer without appropriate permission with the intention of defrauding Bitmain.
By means of such conduct, John Doe furthered the intended fraud and obtained things of value, specifically bitcoin and other digital assets, causing a loss to Bitmain exceeding $5,500,000, the filing states.
Specifically, the documents assert that the defendants actions are a violation of the Computer Fraud and Abuse Act (CFAA), and that Bitmain is entitled to specific damages under the Acts provisions.
South Koreas Myongji Hospital is set to launch a medical information exchange service based on blockchain tech
Major crypto exchange EXMO has signed a Letter of Intent to be acquired by Canadian publicly-traded holding company GoverMedia Plus Canada
Ripple CEOs has sat down with Ross Leckow, IMFs Deputy General Counsel, to talk about blockchain technology at the Singapore Fintech Festival.
Both agreed that the distributed ledger will change the world of global payments as the International Monetary Fund engages with the private sector and industry to help its members unlock the potential of blockchain with minimum risk.
During the conversation about distributed ledger and the ASEAN market, current Brad Garlinghouse, CEO of Ripple, told Leckow that the regulatory clarity in the region, namely in Singapore, Thailand, and the Philippines, is attractive for the establishment of blockchain businesses.
In particular, Thailand has introduced a framework that balances consumer protection with innovation. It legalizes several digital assets, including XRP, and provides clear and explicit guidelines for outside blockchain companies to operate. This clear regulatory environment makes it easier to apply blockchain and digital asset technology to solve real-world business use cases, such as improving cross-border payments across the ASEAN region.
Blockchain also comes as an opportunity for the East Asian region as the market is ripe for adoption of blockchain to lower the costs of cross-border payments, which totaled $130 billion in inbound payments alone in 2017. Ripple is particularly invested in the region, with nearly 50 percent of global customers based there. The broad acceptance of blockchain in ASEAN markets aims to solve issues such as opaque, expensive, and slow cross-border payments, Leckow explained.
Cross-border remittance is a good example of a use case that is very important here. Regulators here have demonstrated a willingness to engage with each other and others around the world a type of cross-border cooperation has emerged that involves the right stakeholders and helps develop solutions to solve for problems like this.
IMFs fintech-related advisory group, which was founded last year, includes Chris Larsen, executive chairman of Ripples board of directors and former CEO and co-founder of...
In recent regulatory news, we report on an authorized mining company in China that has had its operations temporarily halted for tax inspection and implementation of real-name registration processes. We also look at the Michigan Secretary of States ban on crypto-based political donations, as well as the recent certification of X8s stablecoin for Shariah compliance. In addition, we focus on the operator of a fraudulent cryptocurrency scheme who has been punished for misappropriating $601,000 in BTC and LTC from his employer.
Between September and October, Liqui.io delisted 25 token pairs. A shrill Reddit user believes that signs point to an exit scam in progress. Liqui.io has been delisting alot of their coins lately. Including some of their top 10 volume coins like BAT. Meanwhile they give customers just 15 days to withdraw after delisting (approx a Continued
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American Express travel arm files new patent for a blockchain-based system to receive, record and transmit images of receipts
Malta-based cryptocurrency exchange OKEx has added the
Vietnamese Dong (VND) on its Customer-to-Customer (C2C) trading system, enabling
Vietnamese customers to exchange their fiat currency for tokens on
The C2C platform was created by OKEx in 2017 as a peer-to-peer platform where users can buy and sell cryptocurrencies using fiat currencies. OKExs Head of Operations Andy Cheung noted that the addition of the VND on the company's fiat-to-token platform would drive the adoption of cryptocurrencies in Vietnam.
Vietnam is one of the most important blockchain hubs in Southeast Asia. We see a significant growth in the use of cryptocurrencies in this market, Cheung added.
Trades made on the C2C platforms won't incur any transaction fees, according to the release. The exchange also plans to introduce market makers (merchants) in the future.
Merchants are verified traders who have enough reserves to facilitate transactions on the platform. The digital asset platform requires a security deposit from qualified merchants before they can be accepted on the platform.
According to the company's website:
"Market makers help serve a larger number of crypto enthusiasts and hence support a high trading volume. OKEx examines every merchant on the C2C platform. Every merchant on the platform needs to declare their digital assets which must exceed OKExs internal requirements to get qualified and to trade."
OKEx, which recently dislodged Binance as the largest crypto exchange by trade volume, added four stablecoins to the list of assets available for trading on its token-to-token platform in October 2018. The exchange also announced its expansion to the U.S., having secured money transmittal licenses (MTLs) from 20 states across the U.S., excluding New York and Washington, D.C.
Bitcoin drifted lower on Tuesday leading to a mixed trading session for altcoins. Most major cryptocurrencies by market capitalization are currently trading sideways, either trading up or down by a marginal percentage.
At the time of writing, Bitcoin is trading down 0.5% at its current price of $6,370. It is beginning to gradually drift nearer to its historical region of support in the $6,200 region, which must be defended by bulls or else it runs the risk of falling to its year-to-date lows in the $5,800 region.
Although Bitcoin has been gradually declining over the past couple of days, it has not led the altcoin markets, which have beared witnesses to incredibly mixed trading over the past weeks. The most volatile altcoins of this week have been primarily Bitcoin Cash (BCH), Ripple (XRP), and Basic Attention Token (BAT).
Bitcoin Cash has been one of the most volatile major altcoins recently, mainly due to increased trading volume stemming from its upcoming hard fork event that is scheduled to occur on November 15th.
This event caused BCHs price to see a massive price rise earlier this month, rising from lows of $413 to highs of $636 on the aggregated markets, a staggering 54% rise over a one-week period, from October 31st to November 7th.
Since then, however, BCH has gradually drifted downwards, to lows to $510 before jumping slightly to $540 earlier today. It has since fallen and appears to have stabilized at its current price of $530.
XRP has had a somewhat volatile week that has been good for investors, rising from weekly lows of $0.48 to its current price of $0.521. XRPs positive price action comes as the cryptocurrency sees increased adoption rates in Asia, with Japans MUFG Bank signing a new Memorandum of Understanding with the Brazil-based bank, Banco Bradesco S.A., creating a new payment corridor that will be powered by Ripple-based technology.
Basic Attention Token has also had an incredibly volatile week, and is one of todays best performing alts, currently trading up 3.5%. BATs volatility can be largely attributed to its recent Coinbase listing, which led to a major price rise prior to the listing, rising from $0.23 to $0.37, and then f...
Loudi, a city in Chinas Hunan province, launches a real estate-focused blockchain platform and issues its first electronic certificate
There are less than two days left until the Bitcoin Cash (BCH) network faces a contentious hard fork and BCH markets are showing some unusual activity. They are being driven by heavy trading volumes that have doubled in the last two days, while BCH/USD short positions on Bitfinex have touched an all-time high. At the moment, bitcoin cash is trading for $529 per coin with more than $900 million worth of global swaps in the last 24 hours.
As news.Bitcoin.com stated during our last markets update, all eyes are on bitcoin cash prices before the pending fork and this is still the case. On Tuesday, Nov. 13, the overall cryptocurrency economy is valued around $214 billion with over $13.3 billion in global trade volume over the last day. Currently, bitcoin core (BTC) prices are hovering around $6,359 with a market valuation of about $110.4 billion. BTC prices are down 0.64% over the last 24 hours and down 0.95% for the last seven days. The second highest valued market held by ...
Cryptocurrency mining operations in the Chinese provinces of Xinjiang and Guizhou were suspended so the government could conduct very strict tax inspections and real-name registration checks. Power to the mining farms was shut off on November 5, sources told local daily Cong News. As a result, the mines lost about 1 million yuan (or roughly $143,700) a day
The post Cryptocurrency Mining Farms In China Shut Down For Strict Tax Inspections appeared first on CCN
New data is offering insight into how crypto traders are pricing in a coming technical update to bitcoin cash, one that could cause the worlds fourth most valuable blockchain to split into two competing networks. At press time, there are now almost twice as many open short positions betting that the price of bitcoin cash 
E-commerce giant Amazon wins two patents related to methods for protecting the integrity of digital signatures and distributed data storage
Over the past day, bitcoin cash mining pools supporting Craig Wright's Bitcoin SV have consolidated even more of the relative amount of hash power.
Bears have dominated the last three quarters in the Bitcoin market. But the sentiment is about to reverse, according to Changpeng Zhao.
The gutsy prediction found its support in the comparison of trading volumes. Zhao said that while the volume on exchanges like Binance has fallen hugely since January, it still appears strong in contrast to the amount recorded at one-two years ago.
Compared to January [of 2018], we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we had in January. But, compared to like a year or two years ago, were still trading at huge volumes. Business is still okay, we are still profitable, and we are still a very healthy business, Zhao told CNBC.
Bitcoin has mostly been untouched by macroeconomic factors. But the digital currencys growing popularity among Wall Street circles has led investors to take it seriously. As a result, a Bitcoin exchange-traded fund (ETF) is now waiting to enter the mainstream upon a green signal from the U.S. Securities and Exchange Commission (SEC).
Bulls have eyed at the launch of a Bitcoin-backed ETF for a long time. The start could bring multibillion dollars worth of investment into the digital currency derivative product. It could lead to a massive spike in Bitcoins value as investors become more confident about an SEC-regulated product. VanEck, the investment firm behind the ETF, also projected a minimum $1 billion investment if the U.S. regulator allows to launch it.
Our Gold ETFs are already in a few billion dollars range, said Gabor Gurbacs, the chief strategies at Vaneck. There are Gold ETFs in $10 billion range as well. I wouldnt be surprised if a Bitcoin ETF gets in a few billion dollars range.
Meanwhile, Zhao considers institutional interests as a major catalyst behind the next Bitcoin rally. In a...
The Bitcoin Cash civil war is just days away from culminating in a contentious blockchain split, and the lead developer of the faction with the minority hashrate has advised that the development community should get a patch ready in case they need to pursue an emergency hard fork to change the cryptocurrencys Proof-of-Work (PoW) algorithm.
The post Nuclear Option: ABC Dev Wont Rule out Changing Bitcoin Cash PoW Algorithm appeared first on CCN
The Russian branch of Raiffeisen Bank and major oil company Gazprom Neft have conducted a trade finance transaction via a blockchain-issued bank guarantee
U.K. startup Revolut has announced that its customer base has surpassed three million users. The fintech platform, which has quickly become a viable online alternative to traditional banking, was established in 2015. It currently offers payment and exchange services for a growing number of fiat currencies and cryptocurrencies.
The company marked the milestone on Twitter: Three years ago, banks and investors laughed at us. Today, we have signed up three million customers and no one is laughing now. Thank you! The announcement came about three months after Revolut launched a new debit card that offers support for some of the leading digital coins.
Revolut Metal is the platforms premium service. For a monthly fee of 13.99 (less than $16), users can get a free U.K. current account and an Iban account for euros, with unlimited exchange in 24 fiat currencies. The new card also offers access to five cryptocurrencies bitcoin cash (BCH), bitcoin core (BTC), ethereum (ETH), litecoin (LTC), and ripple (XRP) as well as the ability to spend over 150 currencies at the interbank exchange rate.
Marc Andreessen, one of the internets foremost entrepreneurs and investors, has recently doubled-down on his pro-Bitcoin sentiment, divulging that cryptocurrency is a fundamentally new and very important concept. This notable nod of acceptance from such a luminary indicates that this budding industry continues to pick up steam, even whilst the crypto market continues its tightrope walk.
In early-2014, when Ethereum was a fledgling concept and Bitcoin (BTC) was far under quadruple digits, Marc Andreessen, the mastermind behind a number of the early-stage internets foremost startups, came out in full support of crypto via a New York Times op-ed piece. At the time, Andreessen likened Bitcoin to the Internet and personal computers (PCs), claiming that the now-world-renowned decentralized network holds enormous promise to usurp and re-imagine a good majority of the worlds traditional facets.
While the cryptocurrency market has seen the mother of all collapses in 2018, Marc has maintained his positive outlook on this innovation, recently sitting down with Tim Ferriss, a prominent American content creator and entrepreneur, to discuss all things business, crypto included.
Midway through the interview, likely touching on Andreessen Horowitzs launch of a16z crypto, the venture capital firms decentralized technology-centric division, Ferriss brought up the topic of cryptocurrency, asking, what do most people not understand about cryptocurrency?
Marc Andreessen on Bitcoin, Money, and God pic.twitter.com/jtLuCDfIY5
Matt Khoury (@MEKhoko) November 12, 2018
Seeming poised, even giddy to answer Ferriss crypto query, Andreessen first touched on the fact that money, like religion and the concept of a higher being, is an emotionally-loaded concept, as a result of its importance in societys day-to-day. And as such, when...
Bitmain, the worlds largest bitcoin mining firm, has reportedly undergone a major board reshuffle ahead of its initial public offering (IPO), which should set a record for the nascent cryptocurrency industry. Bitmain Sees Major Board Shakeup CEO Jihan Wu Loses Voting Rights Citing company information registered with the local government, Chinese industry media outlet Continued
The post Bitcoin Mining Giant Bitmain Shuffles Board Ahead of IPO: Report appeared first on CCN
HBUS, the four-month-old U.S.-based partner of major exchange Huobi, has hired a former exec of VC firm Draper Athena
This week, the U.S. officially removed Iran from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, disallowing the Central Bank of the Islamic Republic of Iran from working with financial institutions worldwide. Iran could eye a switch to crypto as a response, as it hinted in early 2018. The U.S. government imposed strict sanctions Continued
The post Sanctions Remove Iran from SWIFT, Will it Switch to Crypto as Planned? appeared first on CCN
Global provider of secure financial messaging services, SWIFT, has ousted the Central Bank of Iran (CBI) from its financial banking system. The US-led sanctions will make it difficult for Iran to settle its international deals. In response, the authorities in Iran have accelerated the development of their state-backed national digital currency.
According to a local media source, Informatics Services Corporation (ISC), a private tech wing of the CBI, confirmed that they had developed the said crypto-rial. The companys CEO Seyyed Abotaleb Najafi claimed that their digital currency would eliminate the role of international financial settlement groups like SWIFT. It will be used in a distributed or one-to-one framework for transferring value without intermediaries.
Najafi believed that the reason to launch a Crypto-Rial goes way beyond the aim of circumventing US sanctions. The official said that their pilot program is aimed at testing the potential of blockchain and crypto technology in running a financial system on both interbank and retail level.
The state now plans to deploy the crypto rial on Iranian commercial banks in coming days which would enable them to use the tokens as a payment instrument in transactions and banking settlement, he added. The underlying value of digital rial comes from its fiat supply, Najafi revealed.
However, the international forex value of Rial, by default, will continued to be counted according to the dollar reserves of Iran. A real independent change would likely come only if countries across the world would agree to settle international deals with Iran in crypto-rial.
Stockbroker Max Keiser told RT that blockchainization of state-backed fiats would eventually lead to the demise of the dollar;...
In todays edition of The Daily, we feature an upcoming
bitcoin cash token backed by physical diamonds and an American
coffee company that has decided to add cryptocurrencies to its
payment options. Additionally, we look at a public mining company
that may get a dual listing in Canada, as well as the latest
investment by Bitfury.
Rosetta Coffee, a specialty coffee company based in Lynchburg, Virginia, and Outer Banks, North Carolina, has announced that it will soon adopt cryptocurrency payment options. On the client-facing side of the business, transactions will go through Shopping Cart Elites e-commerce platform. With this, the online store will be able to accept BCH, BTC, BCD, DASH, ETH, LTC and XZC.
Rosetta Coffee emphasized that farmers will also directly benefit...
Engineering and electronics giant Bosch has partnered with IOTA, integrating its new data collection IoT device with the IOTA Data Marketplace
New Linux-targeting crypto-mining malware is able to upgrade itself and hide from being detected, cybersecurity firm Trend Micro reports
After a year of near-non-stop action, the crypto market has finally slowed to a snails pace, with prices grinding to just shy of a halt. While many have claimed that this non-action is here to stay, a multitude of analysts are adamant in their claims that Bitcoin (BTC) and its altcoin brethren are on the verge of a monumental breakout, or as one analyst put it, a storm.
Issuing a post on Seeking Alpha, Victor Dergunov, founder of emerging market-centric Albright Investment Group, has claimed that BTC will move substantially higher over the next several years, echoing comments made by his fellow savants.
Dergunov, touching on the fact that BTCs volatility has all but dissipated, noted that this phenomenon, as he dubbed it, could be a precursor to the conclusion of cryptos multi-month bear market, which has stretched investors to their mental limits.
The Connecticut native wasnt all by his lonesome with this sentiment, interestingly enough, as Fundstrat Global Advisors Rob Sluymer recently explained that an incremental Silver Lining' has begun to develop within the cryptosphere. Sluymer, who is in cahoots with his peer Tom Lee, explained that declining volatility and volume levels could be seen as encouraging technical developments, even though other reports have signaled that retail interest is on its last legs.
Speaking of Tom Lee, during a recent installment of CNBC Squawk Box, pointed out that cryptos resiliency in a tumultuous legacy equity market has made him pleasantly surprised, adding that BTC has evidently found a floor at $6,000 and could be due for a foray to the upside in a few months time.
Almost as if all the crypto industrys analysts and forecasters will corresponding with each other, Bloombergs McGlone explained that non-action can coincide with the subsequent arrival of market bottoms.
Some, like investor/analyst Crypto Rand, have even claimed that the bull market, or its earliest stages at the very least, are already upon the crypto space. Rand, who took to Twitter to convey his thoughts, explained that the aggregate value of all cryptocurrencies has broken out on both linear and logarithmic scales a double whammy to the health of cryptos bears.
Bitmains directorship could now look very different after unconfirmed reports that Jihan Wu is now only a supervisor for the company
Ransomware creators have attacked Malaysian media giant Media Prima Bhd and are demanding bitcoins before they can allow access to the companys compromised computer systems. According to The Edge Markets, which initially broke the news, the hackers struck on November 8 consequently denying the companys employees access to the email system. The hackers are now Continued
The post Hackers Demand $6.3 Million in Bitcoin From Malaysian Media Giant appeared first on CCN
The president of the Marshall Islands, Hilda Heine, has narrowly survived a no-confidence vote. One of the principal catalysts for the challenge to Heines leadership has been opposition to her plan to introduce a national virtual currency.
Heine, the 67-year-old president of the island nation and the sole female head of state in the Pacific region, barely survived the parliamentary no-confidence vote, which took aim at her leadership. The parliament voted 16-16, just one vote shy of the 17 votes needed to overthrow Heine.
Despite the lack of formal political parties in the Marshall Islands, Heines opposition appears to have been led by Casten Nemra, the countrys former president. Nemra has argued that Heines plans to introduce a state-backed digital currency, the Sovereign, have tarnished the governments international reputation. Eight Marshallese senators supported this claim against Heine before the no-confidence vote was br...
3 Stars Fad Book Limited Value
I gave up on this book after 100 pages (it is 320 pages long). I normally do not waste time writing negative reviews but in this instance think it appropriate to mention that I found it wanting.
The first third, on Google, is so far-fetched in its effusive praise and its articulation of the Google this and Google that I could not get the image out of my head: George Gilder kissing Eric Schmidts ass. Over and over and over again.
Remember, I was one of the first to read The Google Trilogy by Stephen E. Arnold back in the 1990s and because of his extraordinary research skills and post to this date know more than most. Google is a one trick pony that indexes less than 4% of the web; it software, its data centers, and its advertising are all collapsing.
I glanced over the last third of the book, on blockchain, and perhaps soured by my experience on the Google end, concluded that the author does not know much about the blockchain world either. I already knew the autho...
Some of the biggest names in the energy sector have come together with equally large banks and financial institutions in order to launch a blockchain based energy commodity platform before the end of the year.
According to reports, oil giants BP, Shell, and Equinor have backed a project supporting the modernization of energy post-trade processes. The announcement was made at S&P Global Platts Digital Commodities Summit in London by the Vakt Consortium on Monday.
Vakt product development vice president, Lyon Hardgrave, said We expect to go live at the end of November in the North Sea oil market, before adding In 2019 we will look at ARA barges, waterborne markets and US crude pipelines. And by January we expect the first licensees will come on board, in addition to our shareholders,
The platform aims to digitize trading by moving away from paper contracts and onto smart ones on the blockchain. This will cut costs, increase efficiency and transparency, and reduce errors. Some big banks and financial players have joined the three oil giants in backing the project. They include IMG, ABN Amro, and Societe Generale alongside trading houses Mercuria, Gunvor, and Koch Supply & Trading.
Up to 40% cost savings have been estimated for licensees paying to use the platform, in addition to elimination of data inaccuracies and acceleration of the process. Hardgrave continued to clarify that;
This not a trading platform, nor a settlement platform there is no crypto currency involved. But it is everything in between: deal recap; confirmation; contract; logistics (the really big element in all this) and invoicing,
The distributed ledger will only be used to record the transactions initially; however there is a lot of room for expansion. Vakt CTO, Adam Vile, added There is a whole stack of standard technology above the blockchain weve built an enterprise solution with blockchain underpinning it.
Expectations for blockchain implementation are still on a high despite the bearish market for digital currencies this year. David Shrier of Oxford Universit...
According to cybersecurity firm Inksit Group, state-funded hackers in North Korea have been targeting crypto exchanges in South Korea to circumvent various sanctions imposed on the regime. The security firm alleged the government of North Korea of running illicit initial coin offering (ICO) projects and breaching into large crypto exchanges. We discovered that North Koreas Continued
The post North Korea Hacked Crypto Exchanges and Ran ICOs to Fund Regime: Report appeared first on CCN
Recently re-opened Japanese crypto exchange Coincheck has announced it has resumed NEM crypto token trading
Oil giants Shell and BP are among a group of firms planning to launch a blockchain platform to automate post-trade processes in the energy industry.
Japanese insurance group Sompo Holdings has acquired a 10 percent stake in Bitpesa, a Kenyan digital currency exchange and payments company, for 570 million yen ($5.02 million). The deal is expected to further digitize the insurers international remittance service.
Sompo Holdings said in an online statement that it intends to use the digital currency-backed fiat remittance business of Nairobi-based BTC Africa, which trades as Bitpesa, to lower the cost and time it takes for global currency transfers.
Using Bitpesas technology, developed through various experi...
In a slick move, Ripple may succeed in moving securities lawsuit to U.S. federal court
Multinational engineering and electronics giant Bosch recently highlighted a new device connectivity method which will work with the Iota marketplace, among other things, for real-time IoT (Internet of Things) data collection and sales.
In a recent blog post the firm opened with a quote from 1999 from Nobel Prize winner Milton Friedman extolling the virtues of anonymously transferring funds on the internet, way before cryptocurrencies were even conceived. It continued to elaborate on the Iota ecosystem, its advantages over Bitcoin, and why it has been chosen as a partner.
The use of the innovative IOTA Tangle technology results in higher scalability and becomes faster and even more secure the more activity there is. It is therefore a serious transaction settlement and data transfer layer for the Internet of Things, the blog added.
Connected devices & data drive the future of our world. A very promising development in this area is taking place right now! Find out what you need to know about the powerful combination of @iotatoken, @xkd2mam & #BoschXDK in this blog article: https://t.co/FaGZtqEUd5 #IOTA pic.twitter.com/Bjg7RdKbYK
Bosch Connectivity (@Bosch_BCDS) November 12, 2018
According to Bosch there will be over 20 billion interconnected devices by 2020. All of which will be generating an immeasurable quantity of data, and data is the oil of the future as the firms promo video states. Iotas decentralized marketplace aims to collect that data and make it available to compensating parties. Users of the system will have the option to either buy or sell this data w...
It takes months for mortgages to be finalized, but a blockchain startup aims to speed the process up by improving the flow of information in the industry #SPONSORED
Ripples XRP token has a posted a 6 percent profit to establish a fresh weekly high towards $0.534. The bullish behavior also got the coin close to replacing Etherum as the second-largest cryptocurrency by market cap. The XPR/USD value appreciated from 0.506-fiat to 0.535-fiat on Monday. The price action underwent a weak downside correction later. It Continued
The post XRP Posts 6% Gains as Japan and Brazil Adopt Ripple Tech for Payments appeared first on CCN
The Bitcoin Cash split becomes increasingly probable. Bitmain is deploying 90k Antminers to back Bitcoin ABC (49% nodes), and Bitcoin SV (6% nodes) is supported by the largest Bitcoin mining pool
Australias largest bank and a government-run digital innovation lab have successfully trialled a blockchain-powered smart money system for disability insurance
Bitcoin's price dropped to two-week lows earlier today and could extend the decline to key support near $6,100.
X8 AG, a Switzerland-based blockchain technology company and creator of value preservation payment token X8X, has obtained the approval from Islamic scholars in order to be marketed as a Sharia-compliant digital currency. The certification will allow the business to expand in the Middle East as regulators and financial exchange in the region increasingly attempt to encourage innovation in the field of finance.
X8 Currency is a blockchain based digital currency with an artificial intelligence wealth value preservation solution. The startup uses AI to manage funds combining AAA grade fiat currencies and gold. Dedicated to preserve value and create price stability in order to prevent from the risk of currency devaluation, its automatic reserve management and AI-driven portfolios were able to obtain a certification for Sharia compliance by Shariyah Review Bureau.
The basket of fiat currencies is composed of US Dollar, Swiss Franc, Euro, Pound Sterling, Japanese Yen, Australian, New Zealand and Canadian Dollar. The eight fiat currencies and gold compose the portfolio of the X8Currency, an Ethereum Token which is represented with assets deposited on bank accounts. X8C can only be issued or exchanged for fiat with X8X Utility Tokens.
X8 AG has assigned Shariyah Review Bureau, an Islamic advisory firm licensed by Bahrains central bank, as an independent Sharia Advisor. The bureau helped the investment company comply with the critical procedures of Sharia compliance in order to start its strategic expansion in the Middle East, according to Francesca Greco, Director and Co-Founder of X8 AG.
With the changing environment of banking and asset management primarily due to fintech-driven shifts, the market for wealth preservation in Islamic finance is poised to see disruption and it is for this reason that we are seeing an increasing demand for our Product in the Islamic markets.
Greco told Reuters that the firm will open a regional office in the Middle East later this month. X8 has been in talks with stock exchanges in Abu Dhabi, Dubai and Bahrain, to fulfill its plan on launching a Sharia-compliant cryptocurrency exchange. Regulators in the region...
The International Monetary Funds Deputy General Counsel hints at ongoing blockchain, crypto involvement during Singapore conference panel with Ripples CEO
The COBINHOOD token COB has been reported across various sources such as CoinMarketCap as having appreciated significantly over the past 10-12 hours at the time of writing, when compared to the same trading values from the previous 24 hours. Current token value stands at $0.024001, a reported 6.81% increase in average trading price compared to Continued
The post Smallcap Token Cobinhood (COB) Gains 14.26% in Wider Market Downturn appeared first on CCN
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.
Little Detective will be launched in various stages, starting from China, followed by South-East Asian countries and Europe.
November 13, 2018: After immense success with ICO and now listed in LAToken, Exrates and Idex, Little Detective is finally on its development and production stage and announced about prospective discussions with some European countries for the distribution of its next-generation blockchain edutainment platform. As the first blockchain powered edutainment portal, Little Detective is especially targeting the developing countries that suffer from limited access to quality education, teachers and teaching supplies.
We have devised a self-learning and exploratory edutainment platform which aims to effectively address the shortage of teaching supplies and lack of access to quality education in countries around the world. We are on our way to discuss the distribution of our innovative platform in some European countries.
Little Detective has already announced about the plans of launching the platform in China, Asia and now Europe. Developed by Ixtus Edutainment, Little Detective is the first blockchain-powered edutainment portal, which aims to forward democratic participation in education across communities all over the world. The platform is targeted towards pre-school and lower primary school children.
Little Detective has declared to roll out its futuristic platform in various phases. China constitutes the biggest market for Ixtus and the company has chosen the Sino market for the Phase 1 of the launch of Little Detective. The platform will debut in China in 2019.
We have decided to launch Little Detective initially in China and we are targeting first-tier provinces including Beijing, Shanghai and Guangzhou. We are also targeting highly populated provinces in the country such as Chongqing, Chengdu, Tianjin tha...
Great Lakes Science Center, a major museum and educational center in Cleveland, Ohio, is accepting Bitcoin via BitPay as payment from visitors as of today
Having banned the exchanges where cryptocurrencies like Bitcoin are traded, the Chinese government is now cracking down on the plants where such currencies are mined.
The Yingjiang Administration Bureau for Industry and Commerce, which enforces enterprises and consumer protection laws, issued a notification to the Bitcoin mining facilities operating in Chinas Yunnan province. The bureau sought the said businesses to register themselves with their Power Supply Bureau. In case of non-compliance, it warned them with power cuts, threatening the very core on which their mining operations are based.
Red Li (@redtheminer) November 12, 2018
The notification surfaced after big mining facilities were found to be using the state-sponsored cheap electricity to mine cryptocurrencies. The authorities found that a majority of these low-level but high income-based businesses were functioning in the grey areas of the law. They were receiving an unlimited supply of electricity without a check, even though they didnt have an official business name.
China accounts for the worlds highest computing power devoted to the crypto mining operations. It has made the country headquarters to some of the biggest crypto mining firms, such as Beijing-based Bitmain. These companies not only make crypto mining hardware but they also operate large mining pools where groups of miners bring their machines together to improve their chances of finding the next block.
Cheap or subsidized electricity is the main advantage for Bitcoin mining companies in China. In the coal-abundant Yunnan province, for instance, the authorities offer companies the power at a subsidized rate of only 4 USD per kilowatt-hour. This is way less th...
Ripples use for cross-border remittances could soon extend between Japan and Brazil
In a bit of news that is tinged with irony, the Australian Securities and Investments Commission (ASIC) has been denied in court its record $35 million AUD fine against Westpac Bank. Irony because the reason the court rejected the fine, in addition to the Commissions failure to prove that Westpac was guilty of any wrongdoing, Continued
The post Aussie ICOs Beware The ASIC Has A Reputation to Rebuild appeared first on CCN
Bitcoin price is currently in a downtrend below $6,350 against the US Dollar. BTC/USD could tumble once there is a break and close below the $6,250 support.
Yesterday, we discussed that bitcoin price may trade to a new weekly low below $6,275 against the US Dollar. The BTC/USD pair did trade lower and broke the $6,275 support. A new weekly low was formed at $6,261 and later the price recovered a few points. The price is back above the $6,275 level, but it is well below the 100 hourly simple moving average. Buyers pushed the price above the 23.6% Fib retracement level of the recent decline from the $6,377 high to $6,261 low.
However, there are many resistances on the way up around the $6,320 and $6,350 levels. More importantly, there is a major bearish trend line in place with resistance at $6,350 on the hourly chart of the BTC/USD pair. The same trend line is near the 100 hourly SMA at $6,345. An intermediate resistance is $6,322 and the 61.8% Fib retracement level of the recent decline from the $6,377 high to $6,261 low. Therefore, if the price corrects higher, it may find a strong resistance between $6,320-6,350.
Looking at the chart, bitcoin price is trading just above the $6,260 and $6,275 support levels. If sellers gain momentum, there could be a sharp decline below the $6,250 level in the near term.
Looking at the technical indicators:
Australia's federal science agency CSIRO and CommBank have trialed a blockchain payments prototype they say could save "hundreds of millions" a year.
Red is still dominating most cryptocurrencies this morning as the slow selloff continues. Downward pressure has eased somewhat though and total market capitalization has not fallen that much overnight, it remains above $210 billion for now.
Over the past 24 hours Bitcoin has dropped a little further falling to $6,365. It remains supported at $6,300 but the weekly trend is downwards and BTC has lost almost 3% on the week. Ethereum is showing no positive signs either and remains in a downwards spiral dropping below $210 again.
At the time of writing all of the altcoins in the top ten are red with the exception of XRP which has added 3.5% on the day to take it to $0.521. CEO Brad Garlinghouse met with IMFs Ross Leckow at the Singapore Fintech Festival yesterday to discuss developments for the ASEAN region. The rest have lost less than a percent on the day aside from Stellar which is down over 3% at the moment.
The top twenty is showing a lot more activity with NEM surging ahead and posting over a 20% gain on the day to take it to $0.119. XEM took off last night when trade volume surged from $5 to $70 million in a few hours. Coincheck has resumed trading which has driven momentum for Nem over the past 24 hours. Its market cap is back over a billion for the first time in over two months.
Zcash is also performing well at the moment gaining 7% on the day to take it to $135. Also in the green is Iota, up 2% on a Bosch post about bridging data communications from its IoT sensors to the Iota Marketplace.
NEMs big jump today is the top one hundreds fomo winner. Joining it at the top is Eternal Token which has spiked 13% as trade surges on the IDAX exchange. Chainlink is also having a good morning, up 12% on the day. At the messy end of the top one hundred chart is MOAC and Waltonchain, predictably dumping their recent gains by 8 and 6 percent respectively.
Total crypto ma...
An Indian cryptocurrency Ponzi scheme masquerading as an investment company has crumbled in the aftermath of the Reserve Bank of Indias declaration of cryptocurrency as illegal tender. The Deccan Chronicle reported this week that Ambidant Marketing and Investment Company, run by father and son duo Syed Fareed and Syed Afaq Ahmed, used promises of Halal investments alongside misused Ulemas Continued
The post Busted: Indian Crypto Ponzi Scheme Lured Muslims With Halal Investment Promises appeared first on CCN
Ethereum price is trading near key supports against the US Dollar and bitcoin. ETH/USD needs to climb above $209 and $210 to avoid a downside break.
Yesterday, we discussed an important support area near $206 in ETH price against the US Dollar. The ETH/USD pair recently recovered above $208 and $209, but it faced a major hurdle near the $210 level. As a result, there was a fresh decline below $209 and the 100 hourly simple moving average. The price spiked below the $206 support once again and formed a low at $205. Later, it climbed back above $206 and it is currently consolidating near $207.
An initial resistance is near $208 and the 50% Fib retracement level of the recent drop from the $211 swing high to $205 swing low. Above $208, the price could retest the $210 resistance. Moreover, yesterdays highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD. The trend line coincides with the 76.4% Fib retracement level of the recent drop from the $211 swing high to $205 swing low. Therefore, a proper close above the trend line and $210 may start a decent recovery. If there is no upside break above $210, the price could decline sharply below $206 and $205.
Looking at the chart, ETH price is clearly struggling to recover above $210. If it continues to struggle, sellers might eventually take control for a downside extension below $206.
Over the last 24 hours, the price of Bitcoin has fallen from around $6,400 to $6,300, recording two consecutive sell candles on its daily chart. Although the volume of Bitcoin remains above $4.4 billion, up more than 46 percent from earlier this month when the daily trading volume of the dominant cryptocurrency averaged at around Continued
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Both reasoning from behavioral-economic first principles, and my personal experience, people are at their most evil out of fear, not greed. Growth means there is less fear going around.
I have a different take on growth is good for harmony (52-53). Arrows theorem doesnt become more or less true if a conflict is between, say (+5, +1) vs (+1, +5) or (+2, -2) vs (-2, +2). Rather, the reason why the latter is more disharmonious is loss aversion.
Redistributing money to the rich (p88) is risky because the rich are not necessarily aligned with general population. Caring for old people (p91) is valuable not just for the sake of present individuals, but also as a commitment to future old people who are present-day workers.
Ethereum classic price is currently in a bearish zone against the US Dollar and Bitcoin. ETC/USD may perhaps continue to decline towards $8.80 or $8.60.
In the last analysis, we discussed the key support at $9.20-$9.25 in ETC price against the US dollar. The ETC/USD pair failed to stay above the $9.25 support and declined further. It traded below the $9.00 support and settled below the 100 hourly simple moving average. The price as low as $8.90 and later corrected higher. It moved above the $9.10 level and the 23.6% Fib retracement level of the recent decline from the $9.57 high to $8.90 low.
However, the upside move was capped by the $9.25 level, which was a support earlier. Moreover, the 50% Fib retracement level of the recent decline from the $9.57 high to $8.90 low acted as a solid barrier. Besides, there is a major bearish trend line in place with resistance at $9.25 on the hourly chart of the ETC/USD pair. The pair is currently under pressure and it is trading around the $9.00 support. If sellers remain in action, the price may perhaps extend losses below the $8.90 low. The next main support is at $8.80 followed by $8.60.
The chart suggests that ETC price is trading in a bearish zone below $9.25. Only a close above $9.20 and $9.25 could push the price back in a positive zone in the near term.
Hourly MACD The MACD for ETC/USD is placed in the be...
A recent article by Colin Kruger in the Sydney Morning Herald profiles the story of Michael Clarke, a renowned cricket captain, and a failed ICO called Global Tech Exchange (https://gttrade.io). Global Tech was to be a cryptocurrency trading platform which had some elements of artificial intelligence and machine learning embedded in it. They were trying Continued
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Ripple price is currently trading in a range against the US Dollar and Bitcoin. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone.
Yesterday, we discussed that ripple price could recover towards the $0.5200 level against the US Dollar. The XRP/USD pair did move higher and cleared the $0.5100 and $0.5180 resistance levels. The upward move was positive as the price even surpassed the $0.5200 level and settled above the 100 hourly simple moving average. However, the price failed near $0.5250 and the 50% Fib retracement level of the last drop from the $0.5610 swing high to $0.4860 swing low.
The price topped at $0.5253 and later started a downside correction. It moved below $0.5150 and the 23.6% Fib retracement level of the recent wave from the $0.4872 low to $0.5253 high. The current price action is positive above the $0.5000 support area. There is a short term bullish trend line formed with support at $0.5050 on the hourly chart of the XRP/USD pair. Besides, the 50% Fib retracement level of the recent wave from the $0.4872 low to $0.5253 high is acting as a support. As long as the price is above the trend line, $0.5000 and the 100 hourly SMA, it could recover once again.
Looking at the chart, ripple price is currently consolidating above the $0.5000 support. Buyers will most likely make another attempt to push the price above $0.5200 and $0.5250 in the near term.
The Venezuelan government has announced that its national digital currency, the petro, can be exchanged into any cryptocurrency if purchased this year. However, the wallet for the petro is still not available and petro buyers receive certificates of purchase.
Venezuelas president, Nicolas Maduro, visited the headquarters of the Superintendency of Cryptoassets and Related Activities (Sunacrip) last week to sign up for a petro savings plan, the Ministry of Popular Power for Communication and Information (Minci) announced.
Minci is dedicated to promoting the government and communicating its message to the public. Sunacrip is responsible for regulating all crypto-r...
Bitmain has filed a lawsuit against an anonymous thief in a US federal court, who allegedly stoled 617 bitcoin from the crypto mining giant.
Venezuela, where bitcoin trading is at an all-time high and the socialist government has issued its own cryptocurrency amid record-breaking inflation and other economic woes, has been denied access to its own gold reserves by the Bank of England. The justification used for denying the countrys request to repatriate 14 tons of gold, worth about Continued
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Bitcoin cash price is currently well below $530 against the US Dollar. BCH/USD might accelerate declines once there is a close below the $500 level.
Yesterday, we discussed that bitcoin cash price is clearly at a risk of more slides towards the $500 support against the US Dollar. The BCH/USD pair remained in a bearish zone and it struggled to move past the $530 resistance. The price even traded below the $500 level and formed a low at $495. Later, there was a minor upside correction above $500 and $505. Buyers pushed the price above the 23.6% Fib retracement level of the last slide from the $560 swing high to $495 low.
However, the price struggled to break the $525-530 resistance zone. Besides, the 50% Fib retracement level of the last slide from the $560 swing high to $495 low also prevented gains. More importantly, yesterdays highlighted key bearish trend line is intact with resistance at $515 on the hourly chart of the BCH/USD pair. There was a false break noted above the trend line since the price failed to settle above $530. Sellers pushed the price back below $510 and it is currently well below the 100 hourly simple moving average.
Looking at the chart, BCH price under a lot of pressure below $510 and $520. If there is no upward move, it could accelerate losses below $500.
Looking at the technical indicators:
According to data from Coin Dance, the majority of hash power favors Bitcoin Cash SV ahead of the Nov. 15 hard fork
On the Bitcoin network, whether it is a transaction worth $100 or $1 million, it costs the same miners fee to process the payment. On October 16, a $194 million payment was moved on the Bitcoin network with a mere $0.1 fee nearly instantaneously. Through legacy banking systems, weeks of paperwork, days of settlement system, Continued
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According to Vin Armani, the founder of CoinText, CoinGeek and Craig Wright have a sinister plan for Bitcoin Cash ABC and other proof of work public blockchains as Ethereum. He claims that Craig and Calvin plan to launch a 51 percent attack of the Bitcoin Cash ABC network.
The Coming Hash War A Message To Bitcoiners https://t.co/oqFUPFyx4o
in rmani (@vinarmani) November 5, 2018
Though it would be the ultimate sacrifice as it is cost intensive, their main objective is to discourage full nodes from connecting to Bitcoin Cash ABC client.
Also Read: Survey: 19% of Respondents Are Very Confident of ICO Market
As if that is not enough on Nov 17, together with their supporters, he revealed plans of stress testing ABC by broadcasting millions of small transactions causing a clog with the intention of keeping the network in complete disarray. Should this be successful, their next target would be Ethereum and other proof of work networks. Its clear that they are willing to take massive losses as long as there is a massive sell-off and even capitulation of Bitcoin Cash. Should there goal be attained then it wont be easy for full nodes to migrate to their client which they have full control of.
While this is happening, Ethereum is inching closer towards Serenity as Constantinople hard fork could re-launch its test net on Jan 16, 2019. However, the date is tentative and could be put off depending on if there are hurdles along the way or not. Remember, before the software upgrade is complete network participants should first agree on difficulty bombs and introduction of ASIC resistance capabilities in ProgPow protocol.
Still, altcoins are weathering strong headwinds. Other than bullish ADA/USD and XLM/USD, EOS/USD, XMR/USD pairs are stable while LTC/USD could below $50. Needless to say, we are overly positive expectant of loss reversals following 10 months of consecutive lower lows.
Lets have a look at these charts
Carbon USDCUSD, is officially the first stable coin on the EOSIO platform. With fiat as collateral, CUSD is also accessible for Ethereum users. But according to the founder, Samuel Trautwein, their grand plan is to transition into this fiat-backed algorithmically hybrid approach once it goes mainstream with enough liquidity. As expected, this announcement means there is better interoperability. Moving on, traders can enjoy cheaper and faster settlement than they would on the Ethereum platform.
On to the chart and everything is literally slow. Not only are gains no-existent but the tapering volumes is confining price movements inside a $2 range. This accumulation validates our previous EOS/USD trade plan and we suggest executing trades once there are breakouts above Oct 15 highs at $6 or losses below $5. Of course, the former is ideal. It is because of this that we retain a bullish outlook as long as prices are still trending inside Oct 15 high low.
Thing is many are expecting higher highs but since LTC/USD is yet to muster enough momentum driving prices above $50, it remains a sell. In line with our last trade plan, we shall take a neutral approach only initiating shorts once there are solid printouts below $50.
The price of NEM tokens (XEM) has risen some since Japanese exchange Coincheck announced that it would once again allow trading of the token, which was suspended after a hack at the exchange led to a more than half-billion dollars in tokens being stolen and systematically laundered through other exchanges. The XEM price started picking Continued
The post NEM Price Rebounds to Two-Month High Following Coincheck Relisting appeared first on CCN
Two international agricultural commodities firms completed a blockchain pilot transaction of 25,000 metric tons of Black Sea wheat
Bitcoin Trade Namibia (BTN), an emerging bitcoin marketplace, is trying to make things work for Namibians keen on investing in digital assets, even though it could take up to three days before buy orders are settled. However, in an industry where government forces crave control, the delay looks like it should be worth the wait.
BTN has adopted the know-your-customer and anti-money laundering requirements of the Bank of Namibia (BoN), the countrys central bank, giving it a chance of survival in an economy where the commercial use of cryptocurrency is banned.
The idea is to provide a safe and secure on and off ramp for bitcoin for Namibians who have expressed incre...
Tokyo-based insurance company Sompo Holdings has partnered with BitPesa to promote digitization of its international remittance service.
The news comes weeks after another Japanese player, money transfer firm SBI Remit, teamed up with the blockchain company to bring distributed ledger to transactions between Japan and African countries.
The cross borders payments industry has gained a new life ever since blockchain technology emerged to disrupt the financial sector.
BTC Africa AC, also known as BitPesa, has made a name for itself as the firm focuses on bringing increased transparency and liquidity to the African continent with Bitcoin. The firm has rapidly grown its business of helping small and medium-sized businesses through international partnerships.
The company, headquartered in Luxembourg for its attractive fiscal policy, solves the friction associated with doing business in Africa by intermediating international remittances with Bitcoin in an effort that may result in greater trust and transactional volumes between businesses and consumers, including multinationals.
The role of international remittances to support the global economy has increased, but expensive fees and delays of legacy cross-border payments technologies has resulted in the emergence of blockchain solutions such as BitPesa.
We believe that the two companies will be able to solve the problem of expensive commission and remittance time for international remittance by using the virtual currency whose distribution volume is expanding globally, digitizing international remittance service. We have reached a business tie-up for the company, reports the Nikkei.
Sompo decided to partner with BitPesa to both contribute to security, safety, and health, as well as to further expand its customer base in developing countries, the insurance company said.
As part of the arrangement, Sompo Holdings will enter BitPesas capital as a shareholder and help the blockchain remittance service better navigate the financial sector. The Japanese firm will also be a participant in testing the technology o...
A blockchain startup has partnered with a broker-dealer company to create a tokenised real estate investment opportunity.
Fluidity and Propellr will offer tokens representing shares in a multimillion-dollar block of condos in Manhattan, New York, allowing buyers to invest as much or as little as they like.
Michael Oved, the co-founder of blockchain firm Fluidity, believes blockchain and smart contract technology could completely revolutionise the very concept of investing in real estate.
In a promotional video for his companys joint venture with broker-dealer Propellr posted to Bloomberg, Oved spoke of the existing inefficiencies in the current process of buying property as an investment and how blockchain technology could address them:
When we started to look at the real estate industry, its probably one of the most inefficient industries that exists currently. A lot of middlemen, a lot of lawyers, a lot of bankers.
The idea behind the partnership is to allow investors to buy shares in a $36.5 million block of condors. Rather than sell each of the 12 luxury apartments individually, the plan is to sell many tokenised shares to those wishing to add the Manhattan real estate opportunity to their portfolio. These tokens will be issued on a blockchain and should therefore allow for greater transparency, security, and efficiency than previously possible.
By tokenising the sale of the property, those behind the idea also believe they will be able to start repaying the loan that allowed for its construction earlier. One of the teams real estate agents, Ryan Serhant, explained:
We have a bank deadline on us where we have to sell a certain amount of units or repay the entire loan by a certain date. If construction has been delayed, if the market turns, if competition pops up, and were not gonna be able to hit that deadline, what do you do? So, by tokenising the debt it gives everyone breathing room to sell at a normal pace with the market instead of against it.
There are other perceived advantages to the Propellr/Fluidity joint venture too. Transferring and monitoring ownership of shares in the property should be much more strai...
Greg Maxwell made headlines recently when an e-mail hed sent to Fake Satoshi Craig S. Wright was revealed to the public. Parts of the e-mail were published on CoinGeek. Maxwell is quoted as saying: I believe it would be adverse for interests that concern me if your influence or prominence in BCH were in any Continued
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According to global statistics provided by Coinatmradar.com, there are now close to 4,000 cryptocurrency automated teller machines (ATMs). Moreover, theres been a huge influx of bitcoin cash ATMs over the past year as there are now 1,200 BCH dispensing devices located around the world.
There are various ways people can purchase bitcoin cash and a slew of other cryptocurrencies around the world and one of them is through the use of ATMs. Digital asset dispensing ATMs have been popular since they were first introduced, and over the past two years, their worldwide growth has been exponential.
While the market is slow now, recent developments like the election of pro-crypto candidates in the U.S. show an encouraging future for the nascent digital asset class
Kaleido, a subsidiary of ConsenSys, is launching a marketplace of plug-and-play services to help blockchain projects from proof-of-concept to live production business networks.
The firm, which announced the product at the Web Summit in Lisbon, is working with Amazon Web Services to provide the enterprise blockchain platform.
According to the company, early adopters of the Kaleido Marketplace have eliminated 80 percent of the custom code required to build their blockchain project, saving time and energy to focus on what comes next.
The full-stack platform includes plug-and-play tools from Kaleido, Amazon Web Services, and third-party developers. A survey conducted by PwC in August 2018 found that 84 percent of executives said their companies were actively involved with distributed ledger technology.
However, due to a shortage of skills and talent across the industry, companies struggle to complete their blockchain solutions to get them up and running. The marketplace includes native AWS integrations, HD wallets for privacy and ID registries for organizational identity.
The platform also offers blockchain tools and services for smart contract oracles, supply chain management, and real-time legal contracts. Kaleidos Blockchain Business Cloud has helped companies create more than a thousand blockchain networks, Sophia Lopez, chief operations officer and co-founder, claims.
Weve seen successful patterns of deployment as enterprise networks go into production and weve baked these best practices into the Kaleido Marketplace services, to help radically simplify the adoption of blockchain and eliminate some of the specialized blockchain expertise needed.
Steve Cerveny, Kaleido co-founder and CEO, explained there is much more to an enterprise blockchain project than the distributed ledger itself. The platform, built in cooperation with Amazon Web Services and ConsenSys, aims to help firms adopt blockchain in thei...
Bitcoin kicked off the week by erasing gains made during the weekend, falling 1 percent against the US Dollar. Bitcoin Relinquishes Hard-Fought Gains The BTC/USD pair stayed depressed despite an upside attempt, printing intraday lows near 6319-fiat against the high at 6384-fiat. The breakdown action in the European forex market helped the dollar establish its 16-month Continued
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International cybersecurity solutions provider Group-IB has come
up with a scoring model to grade crypto exchanges based on their
level of security.
The scoring model was created by Group-IB in conjunction with Swiss-based Cryptolns (which is operated by Swiss insurance broker APIS AS), and the grading is intrinsic to CryptoIns new cryptocurrency exchange insurance, which will allow exchange users to cover up to 15 BTC worth of digital assets held in their exchange accounts. With the scoring models data, CryptoIns has calculated rates for their coverage depending on an exchanges level of security and asset-protection measures.
This insurance will be available for assets held on leading exchanges like Binance, OKEx, Kraken and Huobi, while a full list can be found on CryptoIns website.
Currently, approximately 3,600,000 BTC are stored in user accounts on cryptocurrency exchanges, making this market highly attractive for hackers, Timofey Volkov, CEO of CryptoIns, explained.
Per a recent Forbes article, crypto exchanges are attractive to hackers due to their design: They have a centralized single point of failure, making them prone to the same problems faced by millions of web applications globally. This is where the assessment from Group-IB gets interesting for the investor.
The grading from Group-IB took the exchanges architecture and infrastructure into consideration to better understand the mechanisms used in countering potential threats.
While developing the framework for its insurance policy, Cryptolns revealed that it assessed a number of exchanges using various parameters, including the level of technical security [and] the reliability of key storage, password, and personal data of customers provided by each exchange.
Explaining the challenges faced by insurers in the crypto industry, Volkov stated that:
Collaboration with one of the leading international cybersecurity companies will help us organize and conduct pre-insurance evaluations of the exchanges in order to assess their security, as well as the potential for fraudulent activities on the part of the founders and management.
The scoring by CryptoIns al...
A letter from the Michigan Secretary of State's office states that cryptocurrencies cannot be used for political donations.
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