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According to a DEA agent, far more Bitcoin is being used for speculation than to facilitate crimes. That said, the number of Bitcoin used in various criminal acts is still rising.
It used to be the case that most Bitcoin being transacted was used illegally.
When Lilita Infante of the U.S. Drug Enforcement Administration (DEA) first began to notice the cryptocurrency appearing in her cases, data derived from the ledger of transactions showed that around 90% of all Bitcoin moving between wallets was associated with crimes. This number has shrunk considerably to just 10%.
Speculative uses are now responsible for most transactions today.
However, criminals are still using Bitcoin. In fact, according to Infante, the total volume of transactions used to facilitate crimes has rocketed since the digital currency first began to receive media coverage for its use on dark web marketplaces such as Silk Road. She told Bloomberg about the trends shes noticed:
The volume has grown tremendously, the amount of transactions and the dollar value has grown tremendously over the years in criminal activity, but the ratio has decreased The majority of transactions are used for price speculation.
Infante is a special agent at the DEA. She works on a 10-person task force responsible for investigating cyber crimes. This predominately involves cases where criminals have used the dark web and virtual currencies. Her Cyber Investigative Task Force also works closely with the FBI, and the Bureau of Alcohol, Tobacco, Firearms and Explosives.
Such findings run contrary to the narrative painted in mainstream media of the digital currency. Many still believe that Bitcoin is only useful because it provides an anonymous form of currency for use in drug deals and other criminal acts.
However, more criminals are realising that Bitcoin offers very little in the way of privacy to its users. Investigators such as Infante can use the immutable ledger of transactions that is central to the cryptocurrency to trace where funds have come from and where they are going. This can then be...
Last week Nic Carter, the partner at Castle Island Ventures and co-founder of Coinmetrics.io, published an interesting study that looks at the ever-changing narratives tied to Bitcoin technology. Carter and his fellow researcher Hasufly scraped up a lot of data stemming from Bitcointalk.org posts over the years that highlight some of the community-derived visions of what Bitcoin should be and how these visions have changed over time.
If youve been into cryptocurrencies for a long time you might have noticed the community narratives and visions for Bitcoin have changed over the years. For instance, back in the early days, Bitcoin technology was supposed to eradicate the current banking cartels and remove money from the states power as well. At least thats what the early bitcoiners and cypherpunks said at the time. However, Bitcoin narratives have evolved and lots of Bitcoin proponents now want the centra...
Its been a tough week for most cryptocurrency investors, as the groundbreaking news that the worlds largest stock exchange operator is launching a bitcoin market failed to translate into bullish price movement. For ethereum classic supporters, however, the week could not have gone much better. Coinbase Pro Begins Taking Ethereum Classic Deposits Over the past Continued
The post Coinbase Begins Taking Ethereum Classic Deposits, Raises Buy Limit to $25,000 appeared first on CCN
The worst does not appear to be over for the bitcoin price, as the flagship cryptocurrency on Tuesday slipped below $6,800, a mark that many analysts had pegged as a critical support level for BTCs short-term prospects. Bitcoin had spent the majority of the day trading above the $7,000 mark. However, as CCN reported, the Continued
The post Newsflash: Bitcoin Price Slips Below Crucial $6,800 Support Level appeared first on CCN
Institution-oriented crypto trading platform Omniex expands its board of advisors with former SEC and FDIC execs
A member of the Ukraine Central Election Commission is investigating the use of blockchain in elections. Oleksandr Stelmakh, working for Ukraines Central Election Commission, commented on the ongoing trial Tuesday through Facebook. The trial run began back in July when Stelmakh encouraged his buddies on Facebook to participate in a test vote that had been created in partnership with a regional NEM Foundation group, utilizing NEMs blockchain platform. Among main useful properties of the blockchain are the impossibility of earning changes to the saved information .Those are the possessions we tried to use to store the info of local voting sessions, Stelmakh wrote.
He added: . It has to be noticed that the experiment was held in the test environment of the blockchain NEM and for the transactions utilized by the test coins which were kindly given the representative of the NEM Foundation in Ukraine, Anton Bosenko. The test environment of the blockchain has 28 nodes. Stelmakh also wrote that based on the results, it could cost roughly $1, 227 to place a node that may be utilized to vote in every police station, that he said was a little cost to pay for the technology. Stelmakh reminded readers in his article that the trial period for the blockchain experimentation still ongoing, and surveys using test coins hadnt yet closed.
The official work represents the most recent attempt to use the technology for tabulating votes, with the idea being the blockchain may be utilized to create an immutable record or, at leastan additional one to assist relieve problems when tallying final counts. Blockchain has also been advanced as a tool for proxy voting, where shareholders of a company vote on corporate issues. Editors note: Opinions in this article have been translated from Ukrainian. Vote image via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The U.S. Securities and Exchange Commission has delayed a decision on a projected bitcoin Exchange-traded fund, compelling its final determination ahead by over a month. In an arrangement published on August 7, officials in the bureau wrote that they were giving themselves more time to deliberate on whether or not to reevaluate what will be the very first exchange traded product of its type in the U.S. It is also perhaps unsurprising, given that in the past, SEC officials Used the agencys statutory powers to push back conclusions on bitcoin ETFs from the past.
As the bureau wrote: Accordingly, the Commission. Designates Sept 30, 2018, as the date by which the Commission will either approve or disapprove. Institute proceedings to determine whether or not to disapprove, the proposed rule change. The proposed rule change from CBOE will, if accepted, constitute a critical stage on the way to listing a bitcoin Exchange-traded fund, in relation to money management company VanEck and crypto startup ETF. The companies submitted their proposal back in June, setting A lively comment period that saw the gathering of the crypto community in support. All told, over 100 comments were submitted via mid July.
The choice to punt forward a final decision also comes days after SEC commissioners completed an overview on a projected bitcoin Exchange-traded fund from investors Cameron and Tyler Winklevoss, whose multi year campaign was dashed after the vast most of the SECs commissioners backed up the bureaus original March 2017 decision. One commissioner, Hester Peirce, disagreed with choice, afterwards telling CoinDesk in an interview that the move to obstruct a bitcoin Exchange-traded fund is a disadvantage for both investors and innovators. As of press time, the price of bitcoin hasnt reacted, trading at around $7, 060 in accordance with the Bitcoin Price Index. The SEC picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet which strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin mining firm Bitmain is now valued at $15 billion after closing a pre-IPO funding round with backing from tech giants Tencent and Softbank
American troops serving abroad will be capable cast your vote in West Virginia via a mobile voting platform based on blockchain technology in the national elections in November 2018. The cellular platform, Voatz, will use facial recognition software to fit every selfie style video of the user of their face, to their government issued the ID, according to a CNN report. Once accepted, voters will be permitted to cast their ballot on the program. Ballots will then be anonymized and listed on the blockchain. Voatz is a Boston based startup which combines internet based voting with blockchain technology. The platform was created to encourage citizens involvement and tackle low participation in local elections.
West Virginia State Secretary Mac Warner commented, Theres nobody that deserves the right to vote anymore than the men which are there, and the women which are there, putting their lives on the line for us. Warner also clarified some misconceptions which the program was going to replace traditional balloting, by stating that it was an option and troops could nevertheless cast paper ballots if they like. Earlier this season, state officials conducted an aviator of the Voatz mobile program for deployed troops and their inheritance in Harrison and Monongalia counties and found the results to be satisfactory. Warners office also claimed in the report which four representations of different components of the tool, for example, its cloud and blockchain infrastructure, revealed no problem.
In a previous interview with Bitcoin Magazine, Voatz co founder and Chief executive officer Nimit Sawhney said that Voatz has been working to connect disenfranchised citizens and making sure that the platform remains accessible to all, irrespective of geography or socioeconomics status. Apart from important government IDs like drivers license, state IDs or passport, Voatz has experience utilizing the 10 distinct sorts of official documents for the purpose of verifying the voter identity, said Sawhney. Charles Stewart III, a political researcher at Massachusetts Institute of Technology, credits West Virginia for being daring enough to examine the technology, although he doesnt however believe the Voatz program is ready for prime time.
,There is something to be said sometimes for small scale pilots where we could find out the trade offs, he remarked. Although enthusiasm has been building around utilizing the blockchain for unemployment in the country, two or three experts seem to oppose the idea. Joseph Lorenzo Hall, the chief technologist at the Center for Democracy and Technology, believes cellular voting is a horrific concept, while Mark Schneider, Chairman of the Verified Vote, said not when asked if he believed mobile voting was a fantastic idea. Schneider believes a cellular program creates more opportunities for hacking and meddling. Michael L. The Queen, Warners deputy chief of...
Maerki Baumann, a private lender based in Zurich, Switzerland, has declared its going to manage its customers cryptocurrency assets. Which makes it the second Swiss bank to make this announcement following Hypothekarbank Lenzburg, which said in June that it might open business accounts for cryptocurrency businesses. The bank lately published an article about his site entitled, Cryptocurrencies, just what Are They? . , coordinated by the corporations Deputy Head of IT and digitization Milko G. Hensel, the article provides a short description of several of the worlds best known and most recognized digital currency, like bitcoin and ether. It then explains that, whilst the lender is ready to accept funds generated via cryptocurrencies, it does not condone investing in cryptocurrencies given their volatility and speculative natures.
Wed advise against any major investment in cryptocurrencies at present, the article describes. In our opinion, cryptocurrencies are unsuitable for long term investors because of the doubts set out previously. , First established in 1932, Maerki Baumann is a family owned bank that has primarily provided investment management and investment advice for institutional clients. At press time, it supervises about $649 million USD in customer holdings. The lender publicly admits that its knowledge of cryptocurrencies is limited, even though it is going to provide specialists, to investors seeking to take benefit of its new services. Additionally, its also advising customers to consult with Bitcoin Switzerland, an electronic money company, for further information.
Maerki Baumann closely monitors the evolution of those investment vehicles and the inherent regulation without our dedication to engage in this stadium, the lender says in a statement. This concerns investments in cryptocurrencies, and also the technology required to trade and also store these instruments. We currently consider cryptocurrencies as alternative investment vehicles, but weve limited experience and data available in our residence. , Switzerland is becoming a global hub for cryptocurrency and blockchain associated jobs. SIX Group, the parent firm of Maerki Baumann, declared last July that itll be launching a completely integrated electronic asset infrastructure. Known as the Swiss Digital Exchange, the partnership is set to open its doors early next year under the advice and oversight of the countrys national financial regulator.
Furthermore, the countrys wealthy town of Zug has been nicknamed Crypto. Valley,; a take on northern Californias esteemed Silicon Valley,; because of the 200 to 300 individual cryptocurrency companies it currently plays host to.
Bitcoin mining is a very competitive industry. It has grown exponentially over the last few years. During the last nine months, theres been a bunch of new entrants joining the mining rig manufacturing business like GMO Group, Halong Mining, and Ebang. Now theres a new firm that has partnered with Samsungs semiconductor foundry called, Innosilicon, which has launched the Terminator 2-Turbo that claims to boost the machines hashrate speeds up to 24 trillion hashes per second (TH/s).
Mining rig manufacturing is becoming super competitive lately, and theres been a slew of new machines launched with much faster semiconductors. For instance, the firm Ebang and its Ebit E10 miner mines the SHA-256 algorithm, and it introduced independently made 10nm chips last year. The machines specs claim to produce a low power consumption of 1650W and churns out a maximum hashrate of 18Th/s. However, the machine is unavailable through Ebang as the product is sold out and the E10 can only be purchased through secondary markets. Then there was the firm Halong Mining which produced the Dragonmint T1 a SHA-256 miner that generated 16 trillion hashes per second. Halong also uses a ...
Heres why McAfees Bitfi wallet isn't as unhackable as it thought it was
Two bank employees have been working on setting up a new cryptocurrency trading desk in Barclays, one of the UKs Big Four banks. At least, thats what it says on their LinkedIn profiles. Business Insider reports that Chris Tylers profile stated that hes been hired to produce a business plan for integrating a digital assets Continued
The post Is Barclays Opening Crypto Trading? Bank and Traders Offer Differing Takes appeared first on CCN
Maerki Baumann a private bank based in Zurich, Switzerland has
announced it will manage
its clients cryptocurrency assets. This makes it the second
Swiss bank to make such an announcement following Hypothekarbank
Lenzburg (Hypi), which
stated in June that it would open business accounts for
The bank recently published an article on its website entitled, Cryptocurrencies What Exactly Are They? Written by the companys deputy head of IT and digitization Milko G. Hensel, the article offers a brief description of some of the worlds best-known and most established digital currencies, such as bitcoin and ether. It then explains that, while the bank is prepared to accept funds generated through cryptocurrencies, it does not condone investing in cryptocurrencies given their volatility and speculative natures.
We would advise against any major investment in cryptocurrencies at present, the article explains. In our view, cryptocurrencies are unsuitable for long-term investors due to the uncertainties set out above.
First established in 1932, Maerki Baumann is a family-owned bank that has primarily offered asset management and investment advice for institutional clients. At press time, it supervises about $649 million USD in client holdings.
The bank openly admits that its knowledge of cryptocurrencies is limited, though it will provide experts to investors looking to take advantage of its new services. In addition, it is also advising clients to consult with Bitcoin Suisse a digital currency firm for further information.
Maerki Baumann closely monitors the development of these investment vehicles and the underlying regulation without our commitment to engage in this arena, the bank says in a statement.
This concerns investments in cryptocurrencies, as well as the technologies required to trade and store these instruments. We currently see cryptocurrencies as alternative investment vehicles, but we have limited experience and data (p...
American troops serving overseas will be able to cast their
votes in West Virginia through a mobile voting platform based on
blockchain technology in the federal elections in November
The mobile voting platform, Voatz, will use facial recognition software to match each users selfie-style video of their face to their government-issued ID, according to a CNN report. Once approved, voters will be allowed to cast their ballot on the app. Ballots will then be anonymized and recorded on the blockchain.
Voatz is a Boston-based startup that combines internet-based voting with blockchain technology. The platform was created to encourage citizen engagement and tackle low participation in local elections.
West Virginia Secretary of State Mac Warner commented, "There is nobody that deserves the right to vote any more than the guys that are out there, and the women that are out there, putting their lives on the line for us."
Warner also clarified some misconception that the app was going to replace traditional balloting, by saying it was an option and troops can still "cast paper ballots if they like."
Earlier this year, state officials ran a pilot of the Voatz mobile app for deployed troops and their dependents in Harrison and Monongalia counties and found the results to be satisfactory.
Warner's office also claimed in the report that four audits of various components of the tool, including its cloud and blockchain infrastructure, revealed no problems."
In a previous interview with Bitcoin Magazine, Voatz co-founder and CEO Nimit Sawhney said that Voatz has been working to connect disenfranchised citizens and ensuring that the platform remains accessible to all, regardless of geography or socioeconomic status.
Aside from major government-issued IDs such as drivers licenses, state IDs or passports, Voatz has experience using the 10 different kinds of official documents for the purposes of verifying a voters identity, said Sawhney.
Charles Stewart III, a political scientist at MIT, credits West Virginia for being bold enough to tria...
The U.S. SEC has delayed a decision on a proposed bitcoin ETF, pushing its final determination ahead by more than a month.
Are you a bitcoin maximalist? Convinced that EOS is the Ethereum killer? Soon, youll have the opportunity to put your money where your mouth is, thanks to a new ethereum derivatives product from decentralized fintech startup dYdX. The open-source platform, built on top of decentralized exchange (DEX) protocol 0x, uses smart contracts to allow investors Continued
The post Want to Short Ethereum? This Uber Vet Has Built a DEX for That. appeared first on CCN
Around 75% of domestic respondents marked having no interest in investing in cryptocurrencies, according to a new report from KB Financial Group
A member of the Ukraine Central Election Commission is investigating the use of blockchain technology in elections with a local NEM Foundation group.
Cryptocurrency startup Coinbase will increase its daily purchase limits and permit immediate trading following user bank transfers, the company announced on Tuesday. Presently, in accordance with the startup, customers have to wait for 5 days for all those funds to pay off. But that is about to change, with Coinbase reasoning that whenever someone makes the choice to register, they do not want to wait times before they can start buying cryptocurrency. . Coinbase went on to note: Although we support instant transfers through bank transfer and debit cards, purchases via direct debits from your banking account may take days to appear.
With this update, clients will receive immediate credit for the funds being shipped from their bank account. They can then buy and sell crypto to from their USD wallet right away, but cant ship their funds from the Coinbase platform before the capital coming from their bank have settled. Daily purchase limits are being raised to $25, 000, according to Coinbase, although only the customers that have completed the site identity verification process may have access to these changes. Coinbase remains in the process of adding them modifications for its non-U.S. Customers. A Coinbase spokesperson told CoinDesk that these improvements are constructed on our -year history of focusing entirely on cryptocurrency and constructing the most trusted, compliant cryptocurrency exchange in the world. .
We have focused on constructing a state-of the art fraud detection system that is based on machine learning and, over the last year, we have made significant improvements to our systems which helps us balance a good user experience by preventing losses due to fraud, the spokesman said. The news came only minutes before Coinbase announced the launch of Ethereum Classic on Coinbase Pro. The launch will happen in four phases only the transfer, only mail, only the restriction and complete trading based on a blog post. Editors note: This article was upgraded. Picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The Securities and Exchange Commission recently released a presentation given to agency staffers from crypto startup SolidX in late July, a move which comes days ahead of an expected decision on a bitcoin exchange traded fund. The general public document, dated August 1, reveals that reps from SolidX, Cboe BZX Exchange, VanEck Securities Corporation and Patomak Global Partners fulfilled with the agency on July 31. The meeting drew officials from a number of SEC offices, including the Division of Trading and Markets, the Division of Corporation Finance and the Divison of Economic and Risk Analysis, in accordance with the memorandum.
Whilst the document itself doesnt supply a blow-by blow off of the meeting, it does offer insight into the arguments being made in favor of the bitcoin, such as significant changes in merchandise, market structure and general conditions since March 2017 disapproval referring to the decision made last year with respect to SolidXs prior proposal. The info is noteworthy given that the SEC is likely to issue some type of decision this month on SolidX and VanEcks proposed bitcoin Exchange-traded fund, even though an option to punt its approval or disapproval ahead can lead to a process stretching for additional months.
Historically, the presentation claimed, the approved commodity trust market traded goods all have been well recognized, important, controlled markets for trading futures on the underlying commodity like gold and silver. The document cited the SECs remark at that time: The Commission notes bitcoin is still in a relatively early phases of its development and therefore, with time, controlled bitcoin related markets of significant size could develop. If such markets develop, the Commission could consider whether or not a bitcoin ETP would, on the basis of the facts and conditions then presented, be consistent with the requirements of the Exchange Act.
That said, the presentation made it clear that significant changes in bitcoin and its own economy arrangement have been made since then, as an example, several derivatives markets are now available for bitcoin like CME bitcoin futures, and Cboe bitcoin futures. All the aforementioned are markets controlled by the CFTC and all are cleared products, a presentation added. See the entire presentation document below: srcboebzx2018040- 7-1720 3 6. The SEC construction in Washington D.C. Image via Shutterstock. The leader at blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The development of the still relatively new CryptoDredge Nvidia GPU miner is moving pretty fast in lately with a number of minor releases made available in just a few days of time bringing some performance improvements, fixes and new features to the miner. Since the latest major release CryptoDredge 0.8.0 there is an improvement in Allium, Lyra2z, and Phi2 performance for low-end and middle-end graphics cards, a fix P2Pool bug related to many rejected shares as well as a fix TCP and WebSocket connections used for API along with added power consumption monitoring. Then there was a fix for a Phi2 bug related to smart contracts implemented, an improvement of about 3% for PHI2 as well as a much more significant boost of up to 30% for Tribus and a fix for Lyra2z performance on 1070 Ti and P104-100 graphics cards. And our usual reminder that the CryptoDredge miner is a closed source software that comes with 1% built-in developer fee with binaries available for both Windows and Linux (CUDA 9.1/9.2).
A recently conducted survey has produced interesting results regarding how much Russians know about cryptocurrencies. People with lower incomes have been found to have a better idea of digital money than their rich compatriots. At the same time, general awareness of cryptos seems to be falling along with their prices.
The majority of Russians do not quite understand what cryptocurrency is and have no intentions to acquire digital assets, according to a new poll released by Romir Holding, one of Russias largest market research companies. The survey has been carried out among 1,500 adults, 18 years and up, from across the vast country to determine how important the crypto topic is for Russians these days.
It now appears that multinational investment bank Barclays is not, in fact, joining the cryptocurrency markets through a crypto trading desk.
Reports initially surfaced yesterday claiming that the bank was starting a trading desk based on information on several traders LinkedIn profiles.
It initially appeared that Barclays had appointed one of their traders, Chris Tyrer, to lead the banks digital asset project, which entailed figuring out how the bank can best approach the rapidly expanding cryptocurrency markets.
Prior to these revelations, Jes Staley, Barclayss CEO, had ruled out launching a crypto trading desk, expressing to shareholders in May that he feels skeptical about the technologies due to compliance and regulatory issues, saying:
Cryptocurrency is a real challenge for us because, on the one hand, there is the innovative side of it and wanting to stay in the forefront of technologys improvement in financeOn the other side of it, there is the possibility of cryptocurrencies being used for activities that the bank wants to have no part of.
Regardless of Staleys comments, reports surfaced that seemingly refuted his stance on the issue, claiming that the bank had appointed two of its traders, named Chris Tyler and Matthieu Jobbe Duval to work on the so-called Digital Asset Project.
According to information on the traders LinkedIn profiles, which has since been removed, Tyrer was the lead of the project, and Duval was a consultant for the project.
Duvals LinkedIn Profile stated that he had been hired to produce a business plan for integrating a digital assets trading desk into Barclays markets business: revenue opportunity, competitive landscape, budgeting and planning for delivery, I.T. buildout, capital & balance sheet impact.
A Barclays spokesperson told Business Insider that the bank had no plans to launch a crypto trading desk, but did confirm that the two traders had worked at the b...
SEC officials huddled with stakeholders last week on a proposed bitcoin ETF.
The IOTA price declined approximately 10 percent on Tuesday, even as the wider cryptocurrency market made a tepid recovery from its weekend lows. IOTA Price Posts Worst Performance Among Top-25 Cryptocurrencies Tuesday brought a moderate recovery to the cryptocurrency market, enabling the bitcoin price to put some breathing room between it and the crucial $6,800 Continued
The post IOTA Price Sinks 10% as Wider Market Plots Tepid Recovery appeared first on CCN
Bitcoin has today seen seen solid growth to break back above $7,000, with Ethereum at $410 and most major crypto assets in the green
The T-Rex miner is one of the newer GPU miners out there and it is an interesting option for Nvidia mining rig owners that are looking for profitable new coins based on less popular mining algorithms. Since we last covered the miner there have been some new additions of the supported mining algorithms, namely x16r, x16s and renesis along with some performance improvements in 0.5.7 for a few extra percent of performance in renesis, hsr, x16r, x16s, x17 and c11.
Performance wise we were a bit surprise that the X16R and X16S algorithms are not only now slower, but in fact at times may be even a bit faster at times compared to the latest z-enemy miner 1.14, at least what the miner reports. Also the performance for mining Renesis (RESS) is better than the official fork of ccminer for that algorithm, so you might want to check it out if you still havent done so.
Finally, just a reminder that T-Rex is a closed source miner and that there is 1% development fee built-in and you need to have a recent video driver installed as the binaries for both Linux and Windows are compiled for CUDA 9.1/9.2.
Cryptocurrency exchange Coinbase announced it was opening instant trades and increased trading limits Tuesday.
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Opposite to what we expected in our previous analysis, Bitcoin has not attempted to extend its bearish momentum, at least in the last 24 hours. The BTC/USD yesterday established an intraday low at 6856-fiat, which also acted as a support to a bullish correction phase. As a result, the pair has recorded around 2% gains Continued
The post Bitcoin Price Intraday Analysis 7/8/2018: BTCUSD Awaiting Breakout appeared first on CCN
There are many ways to store bitcoin cash, and while some people use mobile apps, others use hardware wallets to store their digital assets. Then there are those who use one of the oldest methods in the book the paper wallet. The tried and true paper wallet technique is a convenient way to store bitcoin cash (BCH) offline in a physical manner, with funds still spendable or receivable at any time. At Bitcoin.com weve revamped our paper wallet section so our visitors can create a beautiful physical bitcoin cash bill in a matter of minutes.
Cryptocurrencies have become very popular and people who use digital assets store them in various ways. One of the oldest methods for storing bitcoin cash is the use of a paper wallet, which is basically a piece of paper that holds funds because it contains a printed set of both the private and public key. As long as no one has visible access to the bills private key, the paper wallet can be a very secure method of offline storage (cold wallet). At Bitcoin.com weve always had a paper wallet generator available, but weve recently updated the portal so anyone can easily create a bitcoin cash-loaded bill that can be spent at any time.
Financial Technology Company Paxos has formed a partnership with INTL FCStone Inc.s Precious Metals Division. The department will be utilizing Paxos confirmation service a tool built especially for the precious metals arena to instantly automate daily trade confirmations and reduce human errors. Using this blockchain powered trust, Paxos seeks to unlock capital and make value with products which remove trade threat, while INTL FCStone offers market intelligence, post trade services and fiscal solutions execution through the global financial sector. The business boasts over 20, 000 clients in roughly 130 different nations and is headquartered in new york. Chad Cascarilla is the Chief executive officer and co founder of Paxos.
Discussing with Bitcoin Magazine, he says that the precious metals sector is predisposed towards a lot of the same problems he finds with traditional banking institutions. Lots of the procedures the precious metals industry uses today to confirm and regulate transactions are manual and prone to humans error, he explains. Today, confirmations, metal transport instructions and cable instructions are delivered via e-mail, which can be notoriously bad for information safety. Email is rarely encrypted, and a very simple keystroke mistake may cause an e-mail to be sent to the recipients incorrectly, so info is quite vulnerable. He further claims that the timeframe wherein precious metals move or move is usually not fast enough.
Therefore, theyre often in danger of getting lost or falling into the wrong hands: Envision purchasing something on-line when the seller uses eBay to negotiate a price and to ship the products, but the buyer wants to pay on Venmo. When utilizing different systems, theres no guarantee that the merchandise and payment may occur between the same parties and inside the expected period. Now, imagine this situation for a $50 million trade for gold. This very simple conundrum of that pays first and that bears threat is a large issue for the metals sector. , employing the Paxos system, INTL FCStone can fit trade economics within seconds, thus eliminating several manual tasks and improving operational precision.
Trades are rapidly captured, and if problems ever appear, theyre immediately identified and resolved. Cascarilla believes Paxos technology may be developed to the stage it may be applied to almost every fiscal space. Our mission is to move any assets, anyplace, in a reliable manner, he says. We already work with lots of financial institutions and banks using our solutions to crypto assets, and that is our first foray into precious metals. Weve several more solutions in development to other asset classes such as commodity and FX, and we hope to decrease settlement risks and achieve symmetry and synchronization in an extremely fragmented world. He further claims that Paxos will be phasing the rollout of the confirmation agen...
Cryptocurrency enthusiasts have long argued that its unfair to characterize bitcoin as a haven for drug dealers and money launderers. Now, they have data from the U.S. Drug Enforcement Agency (DEA) to back up that claim. Speaking in an interview with Bloomberg, DEA special agent Lilita Infante said that criminal activity accounts for approximately 10 Continued
The post DEA: Criminal Activities Account for Just 10 Percent of Bitcoin Transactions appeared first on CCN
A subsidiary of Chinas very first internet only insurer, ZhongAn Insurance, claims its set the information of 760, 000 diamonds on a blockchain. ZhongAn Technology, which is publicly listed in Hong Kong, announced the launch of its jewel monitoring blockchain application on Tuesday, saying that the project was produced to attain a higher degree of traceability in the luxury market. The product is being marketed via Diamsledger, a brand new subsidiary collectively created by ZhongAn and on-line diamond trading firm Ediams. Constructed on top of ZhongAns proprietary blockchain network, also hosted on its Anlink cloud system, the application is set up through selected parties along the diamonds distribution chain, including diamond traders, processing companies, traditions, logistic businesses and exchange centres.
The end of aim, in accordance with the firms announcement, is to provide a transparent book in a decentralized network that tracks every bit of details on a diamond, from production to customer. The system also works in parallel with conventional industry certificates like GIA, NGTC and HRD, ZhongAn states, meaning purchasers can type in a diamonds certification number to look at all of its information with a portal on Diamsledger. Zhang Yongwen, Chief executive officer of Diamsledger said that currently info of 760, 000 diamonds has been uploaded to Anlink as of mid July. Zhang went on to say that the application provides a double assurance together with traditional certifications, which mainly record diamonds physical info like colour and place of origin.
The launch follows previous initiatives from ZhongAn including a blockchain based application to track and document the food distribution chain, and a patent filing to get a blockchain solution designed to defend press from piracy. Diamond image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Researchers have uncovered a massive botnet that imitates Legitimate reports on Twitter to spread a cryptocurrency giveaway scam. As reported by ITPro, the discovery was made during a research work of Duo Security that appeared at 88 million Twitter reports from May to July and used machine learning to identify robots, malicious or otherwise, on a social networking platform. The team especially discovered just one network of over 15, 000 robots at a 3 tiered structure that spread the bogus cryptocurrency giveaway, and further evolved with time to remain undetected. The Duo team explained how a botnet works in a paper to be presented in the 2018 Black Hat cybersecurity event on Wednesday.
Usually, they compose, spiders first produce a spoofed account to get a genuine cryptocurrency connected accounts which would copy the name and profile image of the legitimate account. To spread the bogus giveaway fraud, then the bots would respond to the tweets posted by the legitimate account, including a URL to lure Twitter users into the scam. Adding to the complexity, Duo discovered that lots of spoof reports followed what they termed heartbeat accounts, which the researchers suspect are followed in an effort to appear legitimate. The botnet also used amplification robots other bogus accounts which are utilized to give likes to fraud tweets to artificially inflate the conversations popularity resulted in a 3 miniature botnet arrangement consisting of the fraud publishing bots, the heart accounts the robots were following, and the amplification bots that like every generated tweet.
The mapping shows that the amplification bots like tweets from both clusters, binding them together. . While Twitter has been making moves to clamp down on such cryptocurrency scams, Duo writes in its own judgment that the work shows that botnets are still active and may be discovered by simple analysis. . We do not consider the problem resolved, they said. But they plan to open source the techniques described in the paper in the hope that new techniques can be developed to identify malicious robots, and help keep Twitter along with other social networks a place for healthful on-line discussion and community. . Network image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Financial technology firm Paxos has formed a partnership with
INTL FCStone Incs precious metals division. The department will now
be using Paxos Confirmation Service a tool built specifically for
the precious metals arena to instantly automate daily trade
confirmations and reduce human error.
Using this blockchain-powered trust, Paxos seeks to unlock capital and create value with products that eliminate trade risk, while INTL FCStone provides market intelligence, post-trade services and financial services execution throughout the global financial market. The company boasts over 20,000 customers in approximately 130 different countries and is headquartered in New York City.
Chad Cascarilla is the CEO and co-founder of Paxos. Speaking with Bitcoin Magazine, he says that the precious metals industry is prone to many of the same issues one finds with traditional banking institutions.
Many of the processes that the precious metals industry uses today to confirm and settle trades are manual and prone to human error, he explains. Today, confirmations, metal transfer instructions and wire instructions are sent via email, which is notoriously bad for information security. Email is rarely encrypted, and a simple keystroke error can cause an email to be sent to the wrong recipients, so information is very vulnerable.
He further states that the timeframe in which precious metals move or transfer is usually not quick enough. Thus, theyre often at risk of getting lost or falling into the wrong hands:
Imagine buying something online when the seller uses eBay to negotiate a price and ship the products, but the buyer wants to pay on Venmo. When using different systems, there is no guarantee that the goods and payment will occur between the same parties and within the expected period. Now, imagine this situation for a $50 million trade for gold. This simple conundrum of who pays first and who bears risk is a big issue for the precious metals industry.
Using the Paxos system, INTL FCStone can match trade economics within seconds, thus eliminating several manual tasks and improving operational precision. Trades are quickly captured, and if issues ever arise, they are quickly identified and resolved.
Cascarilla believes Paxos technology will be developed to the point that it can be applied to virtually every financial space.
Our mission is to move any asset, anywhere, in a trust...
Researchers have uncovered a large botnet that mimics legitimate accounts on Twitter to spread a cryptocurrency "giveaway" scam.
The UKs Financial Conduct Authority has established a global alliance promoting international collaboration for fintech technologies such as blockchain and crypto assets
Crypto mining hardware manufacturer Bitmain has reportedly secured Chinas biggest technology company Tencent and Japans Softbank, Ubers biggest shareholder, as investors in a pre-IPO financing round. Chinese crypto giant Bitmain, commonly known for manufacturing bitcoin mining equipment and operating mining pools, is attracting interest from some of the worlds biggest companies and investors ahead of Continued
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To their proponents, dapps decentralized applications are the future of internet. To their critics, theyre multi-million dollar sinkholes, with huge development costs, poor UI, and no users. Are dapps like Augur and IDEX early test cases for the web to come, or impractical experiments that are destined to fail?
Hating on dapps has become something of a parlor game. Theyre an easy target after all. While all the headlines are about VCs pouring millions of dollars of seed money into dapps like Crypto Kitties, and the highly publicized launch of Augur (market cap $311 million), behind the scenes, things are less than rosy. The latter, which launched with great fanfare several years and personnel changes later, typically has less than 60 daily active users (DAUs) and yet Augur is supposedly ethereums flagship dapp.
Despite rising competition from other countries seeking to capitalize on the cryptocurrency boom, Switzerlands Crypto Valley looks poised to get its moxie back. Swiss Bank Maerki Baumman Will Offer Accounts to Cryptocurrency Firms Thats because a second Swiss bank the Zurich-based private bank Maerki Baumann has agreed to form banking partnership with cryptocurrency Continued
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Public Korean gene sequencing firm Macrogen is developing a blockchain-based ecosystem to allow for the secure exchange and storage of genomic big data
US Drug Enforcement Agency confirms major use of crypto is speculative trading, not crime
Tom Lee believes that Bitcoins current price and volatility levels mean the cryptocurrency isnt broken
Four months after leaving the White House as a chief economic advisor, Gary Cohn is looking for his next challenge. Among the various opportunities available, the former Goldman Sachs president has revealed that he is eyeing the cryptocurrency world. If he has his way, there could be some disruption in the offing. Im not keen Continued
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A firm that launched a blockchain-based application for food tracking last year has rolled out a similar service for diamonds.
Robinhood Crypto announced on 6 August that Ethereum Classic was now available for investment, commission-free, on its platform. The announcement was made via a Tweet on its Twitter account and an official blog post.
Ethereum Classic (ETC) rose over 9% and jumped from rank 12 to 11 as the news came out. Most other cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and XRP, however, witnessed a fall in prices. Among the top 10 on Coin Market Cap, XRP was down by over 4%, IOTA by nearly 13% and Stellar by almost 2%.
The blog post also stated that investors could invest in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dogecoin, and access the market data for 10 other cryptocurrencies. Apart from the six cryptocurrencies which the exchange offers for trading, it supports real-time market data for Bitcoin Gold (BTG), Dash (DASH), Lisk (LSK), Monero (XMR), NEO (NEO), OmiseGO (OMG), Qtum (QTUM), Ripple (XRP), Stellar (XLM), and Zcash (ZEC). At the moment, the offering is available in 19 US states only, however, the company will add support for more states soon.
Robinhood Cryptos addition of ETC comes just a day before Coinbase offers trading support for the cryptocurrency as well.
We intend to allow 2448 hours of transfers through Pro/Prime before opening the markets. In accordance with our Trading Rules, all ETC books will open in post-only for a minimum of 10 mins. Once sufficient liquidity is established, trading will then be enabled on Pro and Prime,
Coinbase announced in its blog. It also explained that since ETC will be added to Coinbase Markets, it will be added to the Coinbase Index according to the Coinbase Index Methodology. In the case of Coinbase, ETC will be available wherever Coinbase is available.
Currently, BitMEX, Binance, LiveCoin, Bitfinex, Poloniex and Kraken support ETC/BTC trading. However, Robinhood offers zero-commission transactions, a feature which works in the favour of investors. Robinhoods business model...
Cryptocurrency assets received from services rendered and crypto mining will now be accepted by Maerki Baumann
Coinatmradar.com reports a milestone of the 3,500 threshold being crossed for bitcoin ATMs (BATM) installed across the globe. One of the goals behind bitcoin automated teller machines is ease of onboarding to the world of crypto. A bear market a protracted Crypto Winter appeared to slow BATMs placement. And for sure it just might have, but numbers remain relatively strong considering, with the greater worry among BATM operators being US federal regulations preventing innovation.
Coinatmradar.com announced this week a psychological milestone for the ecosystem had been reached: more than 3,500 bitcoin ATM machines are now installed all over the world. Not so long ago, BATMs were thought to a perfect onboarding tool, and especially in the United States.
Media attention sees Barclays appear to cover up crypto involvement, as two employees delete information from LinkedIn about a digital assets project at the bank
Nexus is one of several blockchain startups trying to revive mutual insurance. Its first product will cover the risks of ethereum smart contracts.
Crypto markets remain flat for a second day as the bulls fail to grapple control off the bears which have been battering them for over a week. Total market capitalization remains over $250 billion but only just, further losses could be imminent.
Bitcoin has held support at $7k and has nudged just over it to trade 1.5% higher at $7,100 at the time of writing. A push towards resistance at $7,120 may signal a recovery. Ethereum has not moved for the third day in a row and remains planted at $410.
Altcoins are still a mixed bunch with a few making minor gains but some suffering. In the top ten Iota is in pain with a 10% slide to $0.79, it has lost so much market cap that Tether is now in ninth place. Iota has lost all gains in the past 8 months and is down 85% from its all-time high of over $5.20 in December. Ripples XRP is also hurting today down 3.7% to $0.41, its lowest level since December.
Looking at the top twenty Ethereum Classic is still enjoying its Coinbase fuelled run with a further gain of 9.5% to just under $19. ETC has now moved above Tron into 11th spot with a market cap of just below $2 billion. Zcash and OmiseGO have also clawed back a couple of percent but the rest are in the red. Further down the list 0x, Bitcoin Gold and Icon are making gains today but are still massively down on previous prices.
The altcoin of the moment is Basic Attention Token which has jumped 18% on the day to $0.30. The crypto sphere is awash with talk of Coinbase listings for BAT amongst other tokens. The exchange has yet to announce any such news but the fomo is in full effect at the moment. BAT was one of the tokens mentioned by Coinbase on July 13 when it said that it was considering the addition of new assets. The token is up 15% on the month and almost 100% since this time last year. Volume is also surging and has jumped from $2.5 to $7.5 million, the majority of which traded on Binance. Aurora and Wanchain are also performing well today with double digit gains.
South Korean police have raided the office of the company that claims to have discovered the shipwreck of a Russian pre-World War 1 battleship carrying $130 billion in gold bars and coins. On Tuesday, the Seoul Metropolitan Police Agency has raided the offices of Shinil Group, a cryptocurrency startup looking to sell treasure from a Continued
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Electronic signatures procured via blockchain technology are also believed to have the same legal status like any other electronic signature set under the act. But the originally proposed language to amend the law to recognize intelligent contracts has been omitted from the passed bill. As previously reported by CoinDesk, SB 300 initially suggested making it very clear that electronic contracts cannot be denied legal effect or enforceability simply since the contract contains a wise contracts term wording would have cleared the way for clever contracts to be used for legal documents in the nation. Elsewhere in the U.S., the state of Arizona has also passed a bill recognizing the legal status of information stored and transacted on a blockchain, while politicians in California have been working on a comparable piece of legislation because February.
On the other hand, the states of Florida and Nebraska have postponed their proposed bills forever. Ohio flag picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin solid defense of the key 50-day moving average support may have opened the doors for a minor corrective rally.
Coinbase hires former AWS and Microsoft talent as new VP of engineering, aiming to create the most open, secure, and accessible financial system
Professional services firm Accenture has filed a patent which seeks to enhance the speed and security of transactions on blockchains using patented hardware. Besides accelerating the software processes the technology described in the patent titled Hardware Blockchain Acceleration will also improve the security of the applications supporting the transaction chains. Per Accenture, the need for Continued
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Bitmain is planning to open a blockchain data and mining facility in Texas by early 2019
In todays edition of Bitcoin in Brief, we cover the
return of Coinbase to Wyoming, the expansion of Robinhood Crypto to
Iowa and Georgia, a lawsuit against an exchange for failing to give
a user his BCH plus a cybersecurity research that finds
cryptocurrency exchanges experienced a massive surge of user data
Coinbase has announced that its money transmitter license has been renewed in the state of Wyoming. That means that after about three years of absence, locals can once again use the platform to buy, sell and spend supported cryptocurrencies. Wyoming passed a num...
West Virginia will offer a blockchain-based mobile app for voting in this Novembers midterm elections to its citizens currently serving overseas
Tom Lee, often regarded as Wall Streets foremost Bitcoin permabull, recently made an appearance on CNBC Fast Money to outline why Bitcoin could still see further upside.
On Monday afternoon, Tom Lee, the Head of Research at Fundstrat Global Advisors, highlighted the importance of Bitcoins dominance figure for CNBC viewers.
Bitcoin, 'the best house in a tough market,' is now bouncing back, says Wall Street bull Tom Lee https://t.co/OwxWN8SB5H
CNBC (@CNBC) August 7, 2018
The analyst, who has become well-known for his cryptocurrency-related insight, brought attention to the Bitcoins historical command over the industry, with the asset holding an 80% (or more) market share value for the better part of ten years. The Fundstrat executive went on to note that altcoins have since seen positive price action, moving Bitcoins dominance to an all-time low at 37% in January as a direct result of ICOs and overly-ambitious projects.
While many expected Bitcoin to recede into obscurity as 2018 moved forward, Lee added that Bitcoins recent resurgence suggests that Bitcoin still holds the coveted position as the most reliable cryptocurrency investment. He elaborated, stating:
Bitcoins dominance has been creeping up. In fact, in the last couple of weeks, it has soared to the highest level all year and it has hit about 48%. So it tells us that the news we have seen, from the SEC saying that Bitcoin is a commodity, to ICEs announcement and a potential for a (Bitcoin) ETF, are causing investors to decide that Bitcoin is the best house in a tough neighborhood. So I think that Bitcoin dominance is actually showing that the market is reacting to what is good news.
This Bitcoin-centric bull sentiment has become a common sight in the eyes of investors, with industry leaders like Galaxy Digitals Mike Novogratz and...
An association of sixteen licensed domestic cryptocurrency exchanges in Japan have formally applied for certification from the countrys financial regulator to form a self-regulatory body. The Japan Virtual Currency Exchange Association (JVCEA), a body comprised of all 16 licensed cryptocurrency exchanges, is looking to become a certified fund settlement business association after a formal application Continued
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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
The mythical fountain of youth. The tales of it appeared in writings by Herodotus, it was sought by the emperors of ancient China, for its sake alchemists spent years trying to create a philosophers stone. Centuries have passed, technological progress inexorably moves forward, but the issue of reversing the age is still hanging at poise. All over the world hundreds of clinics and laboratories spend millions of dollars searching for a way to slow down biological time. Now, in the heyday of blockchain and cryptocurrencies, high-tech startups are also joining the race for eternal youth.
According to the World Bank, about 8.7 percent of the worlds population is people over the age of 65. This is about 652 million humans! The forecasts are even more discouraging: the ageing population grows at an unprecedented rate and the percentage is projected to reach nearly 17 percent by 2050.
The life expectancy increases as well. But a longer life does not necessarily mean a better life. With age, a person inevitably loses strength, beauty and is prone to serious chronic diseases. With the latter years comes an ever-growing risk factor for degenerative illnesses and the development of malignant tumors, Alzheimers disease, or dementia.
By defeating ageing, we might overcome many diseases. And vice versa preventing and curing these illnesses we may finally find longevity.
For more than a decade, stem cell therapy has been at the forefront of a struggle against ageing and severe diseases.
Stem cells are the universal building blocks progenitors of all cell types in our body. They are able to repeatedly divide and transform into cells of any organ. Simply put, if the body needs to reg...
The U.S. state of Ohio has joined Arizona in legally recognizing data stored and transacted on blockchain.
New York-based multinational investment bank Goldman Sachs is making another step forward in its bet on the cryptocurrency market. The firm, led by chairman and CEO Lloyd Blankfein, is reportedly considering a plan to offer custody for cryptocurrency funds. A large and credible institutional player becoming a custodian could be the news the crypto industry in the United States was waiting for.
Custody services of cryptocurrencies are a game changer for the market within the institutional scope. San Francisco-based virtual currency exchange Coinbase, the largest operator in the United States with over 13 million users (data of November 2017) and $1 billion in revenue, was the first to offer custody services to institutional clients, which means the company holds securities on behalf of the funds, hence reducing risk for customers.
While being a giant among its cryptocurrency peers, Coinbase is still a young company and fully invested in one single and volatile asset class. Goldman Sachs, on the other hand, has a long history of success in investment banking and is one of the most powerful influencers in capital markets. The entry of Goldman Sachs in the cryptocurrency market as a custodian could make a significant impact on the ecosystem as institutional players would most likely lower their concerns about losing their funds to hackers. The initiative might also move prime brokerage services providers into the digital asset class.
In response to client interest in various digital products we are exploring how best to serve them in this space, At this point, we have not reached a conclusion on the scope of our digital asset offering, a spokesperson for Goldman Sachs told Bloomberg.
Ari Paul, the co-founder of BlockTower, said the lack of trusted custodianship and a suite of institutional cryptocurrency products was the last barrier preventing institutional investors fro...
Bitcoin price is under pressure below $7,120 against the US Dollar. However, BTC/USD may perhaps correct higher in the short term towards $7,050 and $7,100.
After a correction above the $7,120 level, bitcoin price a strong resistance near $7,160 against the US Dollar. The BTC/USD pair started a downward move and broke the $7,050 and $7,000 support levels. The decline was such that the price even broke the $6,884 low. A new weekly low was formed at $6,834 before buyers appeared. The price recovered above $6,900 and the 23.6% Fib retracement level of the last decline from the $7,163 high to $6,834 low.
At the moment, the price is attempting to clear the $6,960 and $7,000 resistances. There is also a key connecting bearish trend line formed with resistance near $6,960 on the hourly chart of the BTC/USD pair. Should there be a close above the $7,000 resistance, the price may test the $7,080 level. It represents the 76.4% Fib retracement level of the last decline from the $7,163 high to $6,834 low. Above this, a crucial resistance awaits near $7,120 and the 100 hourly simple moving average. A successful close above $7,120 may well open the doors for more upsides in the near term.
Looking at the chart, BTC price is trading in a bearish zone, but short-term recoveries are possible above $7,000. On the downside, a break below $6,850 might clear the path for a push towards $6,500.
No matter where you stand on guns, U.S. states' attempt to silence the publication of software files should be concerning to the blockchain community.
Ethereum classic price surged higher against the US Dollar and Bitcoin. ETC/USD is placed in a bullish zone above the $18.00 pivot level.
There was a strong support base formed near $14.50 level in ETC price against the US dollar. The ETC/USD pair gained bullish momentum above $15.00 after the Coinbase listing. The price jumped higher and broke many resistances like $16.00, $17.00 and $18.00. There was also a break above the $20.00 handle and a high was formed at $21.02.
Later, the price corrected lower and traded below the $20.00 level. There was a break below the 23.6% Fib retracement level of the last wave from the $15.78 low to $21.02 high. However, there are many supports on the downside above the $18.00 level. More importantly, there is a major bullish trend line formed with support at $18.20 on the hourly chart of the ETC/USD pair. The trend line support coincides with the 50% Fib retracement level of the last wave from the $15.78 low to $21.02 high. Therefore, if the price corrects lower from the current levels, it may well find bids near the $18.40 and $18.20 levels.
The chart suggests that ETC price is placed nicely in a bullish zone above $18.00. Once the current correction is over, it could make another attempt to surpass the $20.00 level. The next resistances above the $20.00 level are sitting near the $21.00 and $21.80 levels.
With Bminer Bytom (BTM) mining support (tensority algorithm) was originally introduced to support f2pool mining and it seems that not all mining pools are still supported, for example Bitmains AntPool still does not work in the new version, though the problem is probably related to the pools that use of workers instead of payment addresses. So apart from further improvements in performance this is another thing that needs work in order to be competitive as far as BTM mining goes.
Bminer also supports mining of Equihash and Ethash, but both of these algorithms have been taken over by ASIC miners already or will soon be, even though Ethereum and some other Ethash coins are still often found in the top of most profitable coins to be miner in mining calculators. We remind you that this is a closed source Nvidia GPU miner available for Linux and Windows in the form of pre-compiled binaries and that there is a 2% development fee for BTM and Equihash, 0.65% for Ethash and 1.3% for dual mining Ethash and Blake.
The crypto market has lost $5 billion of its valuation overnight, as major digital assets including Bitcoin, Ripple, Ethereum, and Bitcoin Cash recorded slight losses in the past 24 hours. Bitcoin and Ether, the native cryptocurrency of Ethereum, fell by around 1.5 percent, while Bitcoin Cash and Ripple declined by 2.5 percent and 5 percent Continued
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Officials from West Virginia are bring a blockchain based cellular voting application to all 55 counties in the country in a move aimed to permit absentee voters from the military to cast ballots remotely from the midterm election. CoinDesk formerly reported that the state has piloted the blockchain application in May that allowed deployed military personnel and their inheritance from Harrison and Monongalia counties to cast ballots in the primary elections. Mac Warner, West Virginias State Secretary, said at that time that the plan was to extend the effort statewide throughout mid-term general elections in Nov if the aviator proves to be successful.
And CNN reported on Monday the Warners office maintained that a round of four representations of the applications blockchain infrastructure was completed following the aviator phase and demonstrated no problems. The application is developed and deployed by voting technology startup Voatz, which said the technician encodes and stores information of ballots through a decentralized network in an attempt to ensure voting info is encrypted and transacted more quickly. Nevertheless, Warners deputy chief of staff Michael Queen was quoted by CNN stating that the state will abandon the final decision to individual counties if theyll use the nascent tech. Whilst it remains to be seen how a total adoption will play in West Virginia ahead of the Nov election, technology specialists already weighed in, calling the notion of voting to be horrific. .
Joseph Lorenzo Hall, the chief technologist at the Center for Democracy and Technology, told the network: It is Internet voting on people horribly bonded apparatus, on our horrible networks, to servers which are very hard to secure without physical newspaper record of the vote. . Ballot picture via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Ripple price moved into a bearish zone against the US Dollar and Bitcoin. XRP/USD broke a significant support at $0.4270 to accelerate losses.
There was a sharp increase in selling pressure above $0.4350 in Ripple price against the US Dollar. The XRP/USD pair failed to move above the $0.4400 resistance area and declined. It broke a few important supports like $0.4270 and $0.4200. The price declined sharply and traded close to the $0.4000 level. A low was formed at $0.4028 before the price started consolidating losses.
An initial resistance on the upside is the 23.6% Fib retracement level of the last drop from the $0.4364 high to $0.4028 low. Above this, the price may trade towards the $0.4200 level, which is an important resistance. Moreover, there is a new connecting bearish trend line formed with resistance at $0.4270 on the hourly chart of the XRP/USD pair. The previous supports at $0.4200 and $0.4270 are likely to act as hurdles for buyers if the price moves higher. Lastly, the 61.8% Fib retracement level of the last drop from the $0.4364 high to $0.4028 low at $0.4236 is also a key resistance.
Looking at the chart, ripple price made U-turn and it seems like it could decline further below $0.4000. Only a close back above the $0.4250 and $0.4270 levels could push the price back in a positive zone.
Looking at the technical indicators:...
Bitmain Technologies Ltd. is launching a crypto mining facility and blockchain data center in the U.S. state of Texas at a former aluminum smelting facility with a recently-retired coal power station. The company is reportedly getting a tax abatement phased in over 10 years.
Bitmain Technologies Ltd. announced Monday the launch of its newest blockchain data center and mining facility in a rural part of the U.S. state of Texas. According to the companys announcement:
The Milam County blockchain data center and cryptocurrency mining facility represents a key component of Bitmains strategic investment and expansion plans within North America.
Ethereum price currently consolidating against the US Dollar and bitcoin. ETH/USD is stable above $400, but it is facing many barriers near the $410 level.
There was no major move above the $415 level in ETH price against the US Dollar. The ETH/USD pair traded in a tight range above the $400 level with a few positive moves. Yesterday, there was a minor upside move above the $405 level. However, the upside move faced sellers near the $410-412 area and the 100 hourly simple moving average. The price declined once again, but the $400 level acted as a support.
At the moment, the price is trading above the $400 level with an immediate resistance at $407. It represents the 50% Fib retracement level of the last drop from the $413 high to $400 low. More importantly, yesterdays highlighted important bearish trend line is intact with resistance at $410 on the hourly chart of ETH/USD. The bearish trend line at $410 is close to the 100 hourly SMA. Moreover, the 76.4% Fib retracement level of the last drop from the $413 high to $400 low is also near $710. Therefore, a break above the $410 level and the 100 hourly SMA is needed for more gains in the near term.
Looking at the chart, ETH price is still trading in a range above $400. It may possibly make the next move above $410 if buyers continue to defend $400.
Hourly MACD The MACD is currently in the bea...
After a pilot conducted in May, West Virginia is expanding use of a blockchain voting app to all 55 of the state's counties.
As altcoins drag lower syncing with Bitcoin (BTC) drop, fundamentals and technical formations are clearly divergent. Yes, sellers are in charge and are even cancelling the last Stellar Lumens (XLM) bullish attempts of mid-July. However, while we are yet to see proper sell signal below key support lines in Litecoin (LTC), EOS and IOTA for example, we have a bearish leaning thanks to trend resumption of last week and that strong bearish engulfing candlestick by week ending Aug 5.
Lets have a look at these charts:
By dropping one percent yesterday, it means prices are narrowly consolidating along our main support line and sell trigger.
We have been clear in our past EOS technical analysis and what we wait now is a conclusive, clear close below $7. Should that happen today then we shall execute according to our trade plans with targets at $4 now that our bear break out pattern would have been confirmed.
If not and EOS find support, then we shall revert to neutral and see if EOS buyers will muster enough momentum to clear July 31 highs at $7.5
Ethereum Classic Price Key Highlights
Ethereum Classic is testing the top of its ascending channel and a breakout could lead to a steeper uptrend from the latest catalysts.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA to suggest that the path of least resistance is to the downside. This means that theres still a chance for sellers to return and allow the channel top to keep gains in check.
RSI is already in the overbought zone to signal that buyers are feeling exhausted at this point. Turning lower could bring sellers in and Ethereum Classic price might follow suit once the oscillator moves south. Similarly stochastic is indicating overbought conditions and looks ready to move back down.
In that case, Ethereum Classic could still pull back to the bottom of the channel around $16 before regaining more bullish traction. This is also near the dynamic inflection points at the moving averages. A break past the top, however, could lead to a sharper price rally.
Ethereum Classic price got a strong boost from news that Coinbase will be adding the digital asset to its tradeable cryptocurrencies, along with bitcoin and other top-traded altcoins. Robinhood also made the announcement and added Ethereum Classic to its options a day ahead of Coinbase.
This could mark the start of stronger volumes and increased activity for this particular cryptocurrency as these platforms have a pretty wide reach and continue to expand their market.
Bitcoin Price Key Highlights
Bitcoin price continues to test the area of interest where bulls are expected to join in and confirm that it has bottomed out.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA still, indicating that the path of least resistance is to the upside. In other words, theres still a strong chance for the uptrend to resume. However, the gap appears ready to narrow, possibly indicating slower bullish momentum.
Price is also starting to break below the 61.8% Fibonacci retracement level and the $7,000 major psychological mark, which means that bullish energy at that area still isnt strong enough to let the climb resume. The line in the sand might be the rising trend line connecting the lows since July as a break below this could expose bitcoin price to a drop to the floor at $5,800.
RSI is slowly making its way up after spending some time in the oversold region. This suggests that sellers are taking a break but buyers are also struggling to get back on their feet. Similarly stochastic is making another attempt to pull out of the oversold region to signal that buyers are taking over.
There have been reports confirming that Goldman Sachs is taking a stake on the cryptocurrency industry, reviving hopes of stronger institutional interest. Recall that updates like these have propped up bitcoin price in the past weeks, but it seems that traders arent reacting as much to the latest news.
Still, its worth noting that...
Bitcoin cash price is still in a bearish zone below $725 against the US Dollar. BCH/USD recoveries towards the $708-710 zone are likely to face sellers.
Yesterday, there was a minor upside move above the $700 level in bitcoin cash price against the US Dollar. The BCH/USD pair traded above the $710 level, but upsides were capped. It seems like the 100 hourly simple moving average near $716-718 prevented gains. Moreover, the 61.8% Fib retracement level of the drop from the $735 high to $684 low also acted as a resistance.
As a result, the price moved down once again and traded below the $700 support. It even broke the last swing low at $684 and traded to a new low at $680. At the moment, the price is consolidating losses above the $680 level. An initial resistance is near the 50% Fib retracement level of the last decline from the $718 high to $680 low. Moreover, there is a new connecting bearish trend line forming with resistance at $708 on the hourly chart of the BCH/USD pair. Therefore, if the price corrects higher from the current levels, it could face sellers near the $700, $708 and $710 levels.
Looking at the chart, BCH price is trading in a bearish zone below $710 and the 100 hourly SMA. If sellers push the price below the $680 low, there could be more declines towards $650.
Looking at the technical indicators:...
CoinDesk talks to Wall Street analysts ahead of a decision that could find regulators approving the first exchange-traded fund for cryptocurrency.
Bob Goodlatte, the chair of the House Committee on the Judiciary, has reported his private cryptocurrency holdings making Mr. Goodlatte likely the first member of the United States Congress to disclose private investments in the form of virtual currencies.
Representative Bob Goodlatte, the chair of the House Committee on the Judiciary, has reportedly become the first member of the United States Congress to report private cryptocurrency investments.
As per Mr. Goodattes annual financial disclosure report that was filed on the 10th of May 2018, Mr. Goodlatte owns Bitcoin Core (BTC), Bitcoin Cash (BCH), and Ethereum (ETH).
The report indicates that Mr. Goodlatte then owned between $15,001 and $50,000 worth of BTC, whilst also holding positions in BCH and ETH valued at between $1,001 and $15,000 each....
Bitcoin derivatives trading provider LedgerX says it saw a record quantity of trading volume during the last two months. The company cleared $50 million in derivatives volume in July alone, president and chief risk officer Juthica Chou told CoinDesk. Before This month the company also fulfilled its largest deal to date to get a December $15, 000 attack call. Partly in reaction to increased customer demand, LedgerX launched a brand new bitcoin buying system last month. Called one click bitcoin, the service acts like an one stop shop for institutional or high net-worth clients to purchase bitcoin easily through a regulated platform, Chou said.
The service is built at the top of the LedgerSavings platform LedgerX surfaced in May. The requirement for this kind of product is large, Chou said. Was born out of a good deal of the consumer need that we have seen. I think it is showing that derivatives and options are genuinely useful long term products plus they are able to provide killer solutions to a vast array participants, she added, adding that June was one of the listing months for us and July were a record month by far. When you look at how we have were doing our transactions, a 3rd of value has been in the last month, we have seen a lot of healthful activity. .
The platform is available to all LedgerXs customers, she said, which includes about 130 associations as well as high net-worth individuals. The business has already begun conducting transactions with the system, and also one customer will see 15 percent a year return on their bitcoin for the subsequent six months. This figure will remain constant, even when bitcoins cost drops or remains stagnant in that period. Moving forward, LedgerX hopes to add ethereum solutions. The company is working with regulators to get acceptance, But Zhou is confident that the company is going to get this acceptance as all its products are full collateralized. . LedgerX picture via Piotr Swat / Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The price of ether classic, the cryptocurrency that powers ethereum classic, is on the rise at press time amid news of major exchange listings.
Overstocks blockchain subsidiary tZERO has announced its Security Token Offering is closing without any further extensions
A Chinese investor is suing crypto exchange OKCoin for allegedly preventing him from withdrawing Bitcoin Cash after Bitcoins hard fork
The author of the best-selling book Rich Dad, Poor Dad, Robert Kiyosaki, has spoken in favor of virtual currencies during a recent podcast. Mr. Kiyosaki described the United States Dollar (USD) as comprising a scam and predicted that precious metals and cryptocurrencies will outlast fiat currencies.
The author of the best-selling personal finance book Rich Dad, Poor Dad, Robert Kiyosaki, is predicting that the mainstream financial system is heading toward a crisis of unprecedented size and scale.
Bitcoin derivatives trading provider LedgerX says it saw a "record" amount of trading volume over the last two months.
Bitmain, the worlds largest bitcoin miner and mining equipment maker has announced construction plans for a new blockchain data center and cryptocurrency mining facility in the city of Rockdale in Milam County, Texas. CCN earlier reported that the company released plans to construct a data center in Texas as part of an ongoing North American Continued
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Congressman Bob Goodlatte has disclosed in his annual report that he owns cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash
Looking to find some free bitcoin? A pair of planets on the No Mans Sky action survival game are hiding 0.004 BTC, according to Hackernoon. Players can claim the bitcoin by finding the corresponding communications stations in the game. Jon Creasy, a crypto enthusiast and investment adviser, says more hidden bitcoin will soon be forthcoming. More Continued
The post A Pro-Crypto Gamer Hid Free Bitcoin in No Mans Sky appeared first on CCN
On a weekly basis, ETH is down 10 percent and this is contrary to the fundamentals that are overly supportive of Ethereum (ETH). Remember, not only are there new developments as Mokens launching and implementing new ERC standards but the approval of ENS by ICANN is definitely a huge plus for Ethereum (ETH) propulsion to mainstream.
By dropping 10 percent week over week, Ethereum (ETH) is $50 away from 2018 lows and $3 from breaching the lower limit of our $150 trading range with floors at $400.
Anyhow, odds are we might see further losses of Ethereum (ETH) considering last weeks bear engulfing candlestick breakin...
In recent news pertaining to virtual currency exchanges, Coinjar has launched Australias first cryptocurrency index fund; Squares latest quarterly report has revealed that company is executing its crypto trades via the over-the-counter (OTC) markets rather than public cryptocurrency exchanges; and Poloniex has launched EOS pairings.
Coinjar, a financial and cryptocurrency services company based in Australia and the United Kingdom that claims to have processed over $1.2 billion in virtual currency transactions, has announced the launch of Australias first cryptocurrency index fund.
The Coinjar Digital Currency Fund is an index fund targeting wholesale investors. Eligible investors must have net assets of at leas...
Interactive financial markets technology platform LevelTradingField is launching a cryptocurrency derivatives trade utilizing the ethereum blockchain. Dubbed CADE, the market is set to go live this September. Itll list ERC-20 tokens that track bitcoin, broadcast, litecoin, bitcoin cash, ripples and monero, with more to be considered on a rolling basis, based on a news release published Friday. These tokens enables traders to reap the economic advantages of investment in crypto without even owning any one of the electronic products. All derivative tokens on CADE must be costly in LUSD, a stable cone tied to U.S. Dollar and guaranteed due to the company.
The news release notes that this kind exchange might be utilised in many different beneficial ways, not only for cryptocurrency traders, also, but miners and long term investors. And on the other hand, the release notes that CADE will only accept participants whove passed through a robust compliance framework so as to ensure that know your client and anti money laundering standards are upheld. Last year the company launched a Bitcoin market predictor bring participants to bet on the future price movements of bitcoin at a game of skill comparable to fantasy sports betting. More lately, LevelTradingField also announced a brand new partnership with global connectivity provider, NetXpress, at incorporate a cryptocurrency feed for users consolidating data from important cryptocurrency exchanges. Display the image through Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A few days ago, CCN reported that the North Carolina State Board of Elections Campaign Finance Office rejected an application to permit candidates accept campaign donation in bitcoin. Emmanuel Wilder, the Republican state legislature candidate and Systems Analyst who submitted the unsuccessful application sat down with CCN to give his opinion about the decision and share
The post New Things Are Scary to People, Says NC Politician Told He Cant Accept Bitcoin Donations appeared first on CCN
Overstock.coms token platform subsidiary tZero is formally ending its security token offering on Monday night. TZero declared that its STO would finish at 11: 59 p.m. Eastern Daylight Time, or 03: 59 UTC. Further, the system said there wont be further extensions, according to statements. The announcement added that investors with fully implemented Simple contracts for future equity have till 5 PM Wednesday, August 8 to remit capital to tZero. The business Plans to report on the outcomes of the STO this coming Thursday, August 9, 2018, throughout Overstocks earnings call. It had been not instantly clear how much tZero raised throughout the round.
A spokesperson for tZero diminished to supply additional details when reached, telling CoinDesk results will be announced during Overstocks earnings call on Thursday. The STO was originally declared as a more traditional first coin that late last season, nearly instantly seeing some 2, 000 investors and $100 million dedicated to the stage, according to Overstock.com founder Patrick Byrne. The startup afterwards claimed that it increased $100 million as part of its token presale, which ended in March and preceded the rest of the STO, as previously reported by CoinDesk. All in all, the firm had planned to raise just as much as $250 million throughout the purchase. Abacus picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
British multinational investment bank and financial services company Barclays is reportedly looking to join the cryptocurrency hype among institutional players.
A few months ago, Jes Staley, Barclays CEO, ruled out launching their own virtual currency trading desk. However, the bank has reportedly created a digital assets project in which it will be figuring out how to approach the fast-growing market.
Barclays, one of the worlds largest banks with nearly 120,000 employees across the globe and reporting over 21,000 billion in revenue, has remained on the sidelines when it comes to the trading of digital assets. Goldman Sachs was one of the first large institutional players making a move by using its own money to trade with clients in a number of contracts. The decision saw other financial institutions making the move to launch cryptocurrency trading desks, but Barclays kept its cool.
In May 2018, Staley, told a shareholder that he remained skeptical of the technology because of compliance and regulatory issues, but that the bank was exploring the subject of cryptocurrencies. Now, its reported that instead of launching a virtual currency trading desk, the bank exploring how it can start trading digital currencies, reports the Financial News. The digital assets project will be run by Chris Tyrer, former global head of energy trading.
The working group includes Marvin Barth, head of FX and emerging markets macro strategy, and Lee Braine, a senior executive from the CTO office and expert on blockchain technology. Braine recently made comments about distributed ledger technology in an interview.
There are clearly tremendous opportunities for startups in the blockchain space. For investment banking, blockchain-inspired solutions such as shared ledgers and smart contracts should aim to meet the enterprise-scale architectural non-functional requirements  Different banks implement executable business logic, often operating in a similar way, within their bank. The opportunity here is for executable business logic common across banks, and shared ledgers may provide one potential way of ach...
While not as widely used as those made for fiat currency, cryptocurrency ATMs remain a popular medium for buying and selling cryptocurrency such as bitcoin. Today marks a milestone, as there are now over 3,500 bitcoin ATMs installed and operational around the world. ATM Count Breaks the 3,500 Mark The latest data from Coinatmradar a
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Despite several attempts, Bitcoin has failed to stay about $7,000 today, with major altcoins trading sideways or slightly in the red
Robinhood zero-fee trading app has listed Ethereum Classic, the app is available in 19 states
This past April, news.Bitcoin.com reported on a social media application powered by bitcoin cash transactions called Memo.cash. Since then the platform has grown in many ways with more users, features, and extensions. When the project first launched, a few weeks later a similar platform called Blockpress came out, but about a month ago the Blockpress founder abandoned the project leaving the Twitter-like onchain-powered Memo to take the reins.
Over the past few months, bitcoin cash fans have been using an onchain social media application called Memo.cash. The application allows anyone to create a profile, post uncensorable messages, and tip people natively in BCH. Essentially users tether written data, videos, pictures, and animations to the website and all the actions are hashed into the BCH chain using an OP_Return transaction....
Cryptocurrency exchange startup Coinbase has hired Amazon Web Services veteran Tim Wagner as its new VP of engineering. Wagner was with AWS for five decades, serving as a general supervisor and overseeing its Application programming interface gateway, as well as various serverless services. Prior to that, he spent six years in Microsoft as director of development for Visual Studio Ultimate. The development carries on Coinbases 2018 hiring spree. Since the start of the calendar year, the business has hired Tina Bhatnagar to function as VP of operations and technology, Emilie Choi as its VP Of corporate and business growth, Eric Soto as VP of finance, Rachael Horwitz as VP of communications, Alesia Haas as its new chief financial officer, and Jeff Horowitz as its chief compliance officer, among others.
With Wagner, Coinbase is beefing up its own engineering team, and that the AWS vet can help expand, according to Coinbase. Engineering is fundamental to our mission of producing an open monetary system for the world. Its core to our approach to deliver the most trusted and easiest to use cryptocurrency products and services. Weve built a wonderful engineering team in a Coinbase, one that Tim will now lead and enlarge, Coinbase Chief executive officer Brian Armstrong wrote in a blog post announcing the hire. Brian Armstrong and Tim Wagner picture courtesy Coinbase. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The most recent crypto market report by wealth controlling your stresses firm Canaccord Genuity posits a long awaited approval on a bitcoin market traded fund probably wont come until 2019. In their quarterly update on cryptocurrencies, Canaccord Genuity, Canadas largest independent investment dealer in Canada, dives into a wide range of topics, including the subject of security tokens and latest developments in cryptocurrency place prices. Yet additionally, it hones in on the favorite subject of the bitcoin Exchange-traded fund, that the crypto community has seen with a renewed fervor following a proposed rule change from CBOE, which is looking to list this type of product in combination with money manager VanEck and crypto startup SolidX.
And while acknowledging the interest and expects of those encouraging the Exchange-traded fund, Canaccord puts forward the opinion that the SEC will extend its own decision timeline up to it could until next March. By comparison, the SEC could, theoretically, make a determination as soon as this Friday, August 10. And even though the VanEck SolidX Bitcoin Trust, seen by many as the most formidable candidate for a possible approval, is due for a prospective decision as soon as this month, its mostly believed that the SEC will extend its deadline, wherein case a decision might not be made until March 2019, the company wrote.
And as Canaccord sought to highlight, other investor oriented goods of a similar character are already on the basis were available for trading on regulated marketplace out of the U.S., thats. In the mean time, we notice were available for trading on regulated were available for trading on regulated markets CoinDesk is a media outlet that strives for the Exchange-traded fund product, the Evolve Bitcoin Exchange-traded fund, the firm wrote. Image via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Rep. Bob Goodlatte (R-VA), the chair of the House Judiciary Committee is set to become the first member of Congress to disclose his bitcoin holdings, Sludge reports. According to a June 18 memo issued by the House Ethics Committee, lawmakers were required to reveal any digital token holdings above $1,000 publicly. The lawmakers were instructed
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LevelTradingField is launching a cryptocurrency derivatives exchange with the help of the ethereum blockchain.
The announcement of the start of Bitcoin futures trading by NYSEs operator ICE has failed to significantly impact the markets. Lets check the charts to see what should we expect from the prices
Coinbase has announced that its renewed its silver issuer license in Wyoming 3 years later terminating its activities from the nation. The movement marks an important change from the working relationship between the crypto exchange giant and state regulators following the expiration of the previous permit in June 2015. Working With RegulatorsIn a Medium article, Coinbase said that its Wyoming clients can now access the complete selection of its products, including Coinbase Consumer, Coinbase Market, Coinbase Prime and Coinbase Custody. The blog article explained the move as one which will spur innovation and economic action for people, communities and families throughout the state.
,Coinbase went on in a statement to highlight its newfound cooperation with Washington state regulators. Coinbase welcomed the chance to work with Wyoming House of Representatives Majority Floor Leader David Miller, State Senator Eli Bebout, members of the Blockchain Task Force and their coworkers to locate a solution which allows cryptocurrency custodians and exchanges to restore operations. Were also thankful for the aid of Commissioner Forkner, Deputy Commissioner Mulberry, with the examiners and staff from the Wyoming Division of Banking within their prompt approval of our money transmitter application, the article reads. Going further, Coinbase welcomed his return to Wyoming as evidence that authorities, lawmakers and cryptocurrency providers could work together to promote innovation by finding ways to adapt cryptocurrency trade under existing money transmission legislation, even exempting them when necessary.
The article especially mentions the elimination of the necessity to double reserve cryptocurrency assets of Wyoming inhabitants as a crucial point of the arrangement reached with regulators, allowing return it to the state. Concluding what some will consider as a statement of intent from the platform which has just been engaged in aggressive growth stage, Coinbase says. We seek excellence in compliance and advocate for common sense policies which allow for innovation. Well continue cooperating with legislators and regulators across the U.S. And globally as we work to make an open monetary system for the world.
A Chinese investor has filed a lawsuit against cryptocurrency exchange OKCoin regarding more than 38 bitcoin cash that he claims the platform failed to distribute to him following last years hard fork, according to a charge sheet on LegalWeekly. The plaintiff, known only by the pseudonym Feng Bin, claims he was expecting to get the Continued
The post Chinese Investor Sues OKCoin over Bitcoin Cash from Last Years Hard Fork appeared first on CCN
Coinbase has announced that it has renewed its money transmitter license in Wyoming three years after terminating its activities in the state. The move marks a significant shift in the working relationship between the crypto exchange giant and state regulators following the expiry of the previous license in June 2015.
In a Medium post, Coinbase said that its Wyoming customers can now access the full range of its products, including Coinbase Consumer, Coinbase Market, Coinbase Prime and Coinbase Custody. The blog post described the move as one that will spur innovation and economic activity for individuals, families and communities across the state.
Coinbase went on in the statement to highlight its newfound cooperation with Washington state regulators.
Coinbase welcomed the opportunity to work with Wyoming House of Representatives Majority Floor Leader David Miller, State Senator Eli Bebout, members of the Blockchain Task Force and their colleagues to find a solution that allows cryptocurrency custodians and exchanges to reestablish operations. We are also grateful for the assistance of Commissioner Forkner, Deputy Commissioner Mulberry, along with the examiners and staff from the Wyoming Division of Banking in their prompt approval of our money transmitter application, the post reads.
Going further, Coinbase hailed its return to Wyoming as proof that regulators, lawmakers and cryptocurrency companies can work together to encourage innovation by finding ways to accommodate cryptocurrency trade under existing money transmission laws, even exempting them when necessary.
The post specifically mentions the removal of the requirement to double-reserve cryptocurrency assets of Wyoming residents as a critical point of the agreement reached with regulators, enabling it to return to the state.
Concluding with what some will see as a statement of intent from a platform that has recently been engaged in an aggressive growth phase, Coinbase states:
...We seek excellence in compliance and advocate for common-sense policies that allow for innovation. We will continue collaborating with legislators and regulator...
As per new rules requiring members of Congress to disclose cryptocurrency holdings, at least one of the House is now known to have invested in digital assets.
Rep. Bob Goodlatte (R-Va) is reported to have stated that he owns amounts of Bitcoin, Bitcoin Cash, and Ethereum.
The rules requiring the disclosure of digital assets were passed in late June of this year by the U.S. House Ethics Committee. They state that all members of the House must report their cryptocurrency holdings in much the same way that they do any other financial assets.
This makes the U.S. system similar to that of Australia. There, the register of members interests requires that cryptocurrency holdings are declared by those serving in government.
In addition, the new U.S. rule change requires members to report transactions using digital currencies within 45 days. This is consistent with the laws governing the disclosure of any other transactions made by members of Congress.
According to a report in news publication Sludge, Goodlatte is the only member of the U.S. government who has come forward about his digital currency investments. He holds somewhere between $17,000 and $80,000 worth of cryptocurrency. The disclosure of his digital currency holdings was actually made before the new rules came into force. It states that he mostly owns Bitcoin, but also has smaller amounts of both Bitcoin Cash and Ethereum.
Its likely that Goodlattes decision to buy digital assets was inspired by his son, Bobby Goodlatte Jr. He has previously invested in the massive crypto brokerage Coinbase and has engaged in bullish price speculation in the past too. However, precise details of this investment or whether he discussed the topic of cryptocurrencies with his father at all are unclear.
Even though Goodlatte is the only confirmed member of Congress to own cryptocurrencies, more are expected to disclose their holdings in the near future.
Several members are thought likely to have invested in the space. Th...
A long-awaited approval on a bitcoin exchange-traded fund (ETF) may not come until 2019.
(ANTIMEDIA) The elephant in the room of the blockchain industry is energy usage. Financial pundits love to compare its intake to national consumption. For example, earlier this year Forbes pointed out that Bitcoins proof of work mechanism uses the same amount of electricity in a year as the entire nation of Switzerland. Ars Technica compared Bitcoin usage to the nation 
A commissioner of the U.S. Securities and Exchange Commission (SEC) has voiced her opinion that the agency overstepped its bounds to reject a bitcoin ETF recently based on the underlying asset, bitcoin. She believes that the role of the SEC is to consider the market for the ETF, not the underlying asset itself.
Following the SECs recent decision to reject the proposed rule change for a bitcoin ETF, SEC Commissioner Hester Peirce voiced her opinion in an interview with Cnbc on Wednesday. She explained that the agency has no jurisdiction to look at the underlying asset when considering whether to approve a proposed rule change for an ETF.
While Peirce voted for the approval, th...
A Japanese cryptocurrency trading group formally submitted a comprehensive proposal to create a self regulatory organization to the nations financial services Agency. The Japan Virtual Currency Exchange Association, that was formed by 16 trades in March and registered with the FSA in Apr, has applied becoming a licensed finance settlement business association, the Asia Times reported Monday. This would effectively permit the JVCEA to inflict self regulatory rules on the cryptocurrency trading marketplace as part of an attempt to create stricter business standards. A working draft of the proposed rules in the almost 100 page document will require cryptocurrency exchanges to frequently conduct audits, as well as prohibit particular anonymous cryptocurrencies from being traded like monero or dash, Nikkei Asia reported the last month.
Even more lately, the JVCEA said it also wished to restrict the amount of borrowing, when it comes to margin trading, thats trading with borrowed money, to be in no more than 4 times an investors original deposit, as previously reported by CoinDesk. These are suggestions by the association goal to prevent repeats of upsetting incidents like the Coincheck hack where an estimated $533 million was taken from the markets digital wallets. Additionally, it follows from tendencies by Japans Financial Services Agency themselves to crackdown on the cryptocurrency sector by more closely inspecting the activity of accredited cryptocurrency exchange operations, issuing business improvement orders geared toward enhancing internal auditing and user protection systems. Documents picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Coinbase has hired Amazon Web Services general manager Tim Wagner as its new vice president of engineering.
New research finds a crypto-related Twitter scam botnet of at least 15,000 bots spreading fake giveaways
Among the worlds biggest investment banks might soon bring cryptocurrencies into its trillion dollar investment fold. Goldman Sachs is supposedly devising a cryptocurrency custody assistance, people familiar with the issue told Bloomberg. The offering would start Goldman Sachs custodial solutions into cryptocurrency funds, providing them an institutional route by that to manage their assets. This would outfit the funds with security, insurance along with other investment measures that could otherwise be informative. If not unattainable, such an asset securing warranties are in the very least evasive in this kind of unregulated and unregulated marketplace, but if accomplished, Goldman Sachs crypto custody could alter this.
Talk of the supplying itself is a sign that demand for these services is on the upswing, and in the event the services materialize, they might even encourage cynical or unenthused investors to get into the game. In response to customer interest in various electronic products were researching how best to serve them in this area, a Goldman Sachs spokesperson commented on the issue. At this time, weve not reached a conclusion on the range of our electronic asset offering. ,If the offering gets the go ahead, it might gives a buff to the cryptocurrency markets credibility. As a vote of confidence, the custody assistance, and the customer protections itd attract, could legitimize cryptocurrency indicator and hedge funds in the eyes on institutional players.
It might also free up the possibility for other cryptocurrency associated investment solutions, like prime brokerage services, Bloombergs sources indicated. The offering could be a welcomed addition to the markets institutional investment tools. Approved and launched last year, the business only institutional grade tools are the Cboe and CME bitcoin futures contracts. For at least a year today, the space has struggled to win the SECs acceptance for a bitcoin Exchange-traded fund, a struggle which, despite renewed efforts, remains at a deadlock. In the mean time, some institutional companies have been increasing their participation from the marketplace without absorbing its own assets into conventional investment offerings. The Intercontinental Exchange, for example, lately introduced its cryptocurrency payment ecosystem Bakkt, a statement that came 3 months later ICE disclosed its making its own cryptocurrency trading platform. Northern Trust Financial also announced earlier this month it might open administrative services to a select group of hedge funds invested in crypto, though these services dont consist of direct asset custody like Goldman Sachs own.
Cryptocurrency exchange giant Coinbase has finally reopened its services in Wyoming, a move that comes after the state successfully passed a handful of bills designed to create a favorable climate for the blockchain industry. The San Francisco-based Coinbase announced in a blog post that it has renewed its state-level money transmitter license, enabling it to Continued
The post Coinbase Returns to Wyoming after Three-Year Hiatus appeared first on CCN
Mining hardware giant Bitman has announced that its newest blockchain data center will be located in Rockdale, Texas, in Milam County.
According to a press release released today, developed of the new facility will begin in early 2019, and the company expects the center to be fully operational in about two years, bringing over 400 new jobs to the city. The company will also be investing in programs to educate and train potential employees in the workings of blockchain technology.
The facility marks an estimated $500 million investment in the local and statewide economy over a period of seven years. It also signals a growing movement for international blockchain and cryptocurrency companies to expand operations in the U.S. as a friendly regulatory climate develops.
Milam County, where the facility will be located, has seen tremendous economic weakness in recent times due to the closure of the countys coal mines. Bitmains decision to locate the data facility in Milam County was first rumored by local news publication Dallas News in a July 19th report. The decision wasnt confirmed by the company until August 6th.
Construction of the facility is already underway and is expected to be completed in the fourth quarter of 2018. This will be proceeded by the initiation of the data center in the first few months of 2019, at which point the company will begin hiring and training members of the community for careers within the data center.
Jeff Stearns, executive vice president and director of operations for Bitmain, North America, spoke about the facility, saying:
Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in realizing this vision, throughout the initial set-up phase, operations and beyond.
News of Bitmains Texas-based blockchain data facility follows reports that the company is building similar facilities in Washington state.
This past April, the cryptocurrency giant received controversial approv...
One of the worlds largest investment banks may soon bring
cryptocurrencies into its trillion-dollar investment fold.
Goldman Sachs is allegedly devising a cryptocurrency custody service, individuals familiar with the matter told Bloomberg. The offering would open Goldman Sachs custodial services to cryptocurrency funds, providing them an institutional avenue through which to manage their assets. This would outfit the funds with security, insurance and other investment measures that would otherwise be unattainable.
If not unattainable, such asset-securing guarantees are at the very least elusive in such an unregulated and fledgling market, but if realized, Goldman Sachs crypto custody could change this. Talk of the offering itself is an indicator that demand for these services is on the rise, and if the services materialize, they may even encourage skeptical or unenthused investors to get into the game.
In response to client interest in various digital products we are exploring how best to serve them in this space, a Goldman Sachs spokesperson commented on the matter. At this point, we have not reached a conclusion on the scope of our digital asset offering.
If the offering gets the go-ahead, it would give a buff to the cryptocurrency markets credibility. Like a vote of confidence, the custody service and the client protections it would bring could legitimize cryptocurrency index and hedge funds in the eyes on institutional players. It may also free up the potential for other cryptocurrency-related investment services, such as prime-brokerage services, Bloombergs sources indicated.
The offering would be a welcomed addition to the markets institutional investment instruments. Approved and launched last year, the industrys only institutional-grade instruments are the Cboe and CME bitcoin futures contracts. For more than a year now, the space has struggled to win the SECs approval for a bitcoin ETF, a fight which, despite renewed efforts, is still in a...
One of the largest cryptocurrency exchanges in India, Zebpay, has enabled Trueusd (TUSD) trading, deposits and withdrawals. The dollar-pegged stablecoin is offered as an alternative to fiat trading which is problematic under the Indian central banks ban.
Mumbai-headquartered cryptocurrency exchange Zebpay has announced the addition of Trueusd (TUSD) trading, deposits and withdrawals going live, starting today, August 6, 2018. Trueusd is part of the recent torrent of so-called stablecoins to have hit the market as fears around the performance of Tether (USDT) refuse to die down.
According to its promoters, each TUSD can be re...
A study conducted by market intelligence firm Juniper Research indicates that by deploying blockchain technology financial institutions stand to generate savings amounting to over US$27 billion on cross-border settlement transactions before the end of 2030. On the basis of on-chain transactions, the costs will be reduced by over 11%. #Blockchain deployments to save #Banks more Continued
The post Blockchain Adoption to Save Banks $27 Billion Annually by 2030: Research appeared first on CCN
Sixteen Japanese cryptocurrency exchanges have applied to form a certified self-regulatory organization for the industry.
Robinhood announced Monday that its clients can now put money into ethereum classic, just the day before Coinbase also adds this option too. The business stated in a blog article that the option went live today on its own Robinhood Crypto program, adding that only those in the 19 U.S. Nations with access to the service could trade ETC at this time. Users may also trade in bitcoin, ethereum, bitcoin cash, litecoin and dogecoin, along with market data for 10 other cryptocurrencies, the monitor market data for 10 other cryptocurrencies, the article states. Begin accepting transfers in ETC on August 7 service for ETC tomorrow.
The business announced a week ago itd begun final testing to the cryptocurrency, and might start accepting transfers in ETC on August 7. On the other hand, the new option will be opened up initially to customers of Coinbase Guru In accordance with our Trading clients will be capable In accordance with our Trading. In accordance with our Trading transports through Pro/Prime before opening the markets. In accordance with our Trading Requirements, all ETC books will start in office only for a minimum of 10 minutes. We expect this to happen approximately allowed on Guru and Prime, the business explained.
We expect this to happen approximately as soon as theyre recorded on Coinbase Guru and Prime, the article expect this to occur approximately. We expect this to happen approximately 1-two weeks after trading begins on Guru and Prime. Furthermore, while Coinbase Prime and Coinbase Pro clients supported up to the fork, the exchange said be given supported up to the fork, the exchange said clients wont, as ethereum wasnt supported up to the fork, the exchange said. The selection was consistent with its Digital Asset Framework stating the selection was compatible with the Digital Assets Framework. At that time, the listing announcement resulted in time, the token was trading at $17 thirty time, the token was trading at $17.
At this time, the token was trading at $17.72, in accordance with the CoinDesk Market Center. Trading graph image via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Having launched the bitcoin futures deal in May, Goldman Sachs is now contemplating the launching of a cryptocurrency custody service, according to Bloomberg. In a report released Monday, the news agency cites anonymous sources as saying that the investment bank is mulling the creation of a secure storage service directed toward crypto funds to help protect them against the possibility of hacking. To date, though, it appears the chance is being discussed and a launching date isnt certain. The banking group told Bloomberg that, although its investigating various digital products, it has not still made a decision on any product offering.
Nevertheless, the sources suggested the service can eventually help Goldman Sachs to open other crypto focused solutions, like a brokerage. The news comes just a month after important cryptocurrency exchange Coinbase established its own custody service, intending to serve institutions prepared to deposit over $10 million value of electronic assets. Other startups from the crypto space additionally provide to help keep your assets safe for a commission, such as BitGo that revealed he was running Wall Street businesses in May. Although previously Goldman Sachs was mostly skeptical about cryptos, cautioning investors in January that they had been in a bubble, the company said in May itd start trading bitcoin futures established by Cboe and CME late last year.
In the time it said itd Use your own money to trade bitcoin futures on behalf of its clientele. Bank deposit boxes picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Before we begin our analysis, it is important to discuss what had prompted a sudden $500-drop in the Bitcoin market. OKEx, a Hong Kong-based cryptocurrency exchange, recently issued a statement that mentioned one of their customers as the main perpetrator of the latest Bitcoin bear-trap. The OKEx client initiated a relatively large long position which, Continued
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Having launched bitcoin futures trading in May, Goldman Sachs is now pondering the launch of a cryptocurrency custody service, according to a report.
Organized crypto trading groups use Telegram to coordinate crypto asset pumps, says WSJ
New research has found that crypto hacks are increasing, with a majority of criminal activity originating from the U.S., according to International cybersecurity firm Group-IB.
According to Group-IB, hacked accounts rose 369 per cent in 2017 compared to the previous year, with 720 usernames and passwords stolen across 19 of the top exchanges, reports The Next Web.
The data suggests that it is down to inadequate security measures and a lack of two-factor authentication (2FA), which has resulted in a profitable venture for criminals.
The country with the highest amount of affected cryptocurrency users was the U.S. at 34.3 per cent. Countries grouped under the Other category came in at 11.1 per cent, followed by the Russian Federation with 10.5 per cent, and China scoring five per cent. Turkey had the lowest amount of affected users with 2.4 per cent.
Of the 720 accounts that were compromised, one in five had passwords in place with less than eight characters. Unsurprisingly, this makes light work for potential hackers intent on stealing the funds of others.
According to a June report at NewsBTC, Rick McElroy, the security strategist at Carbon Black, said some new investors were unaware that there were no banks or institutions providing security for people using cryptocurrency. It was further highlighted that in the first six months of 2018, crypto cyber thefts amounted to over $1.1 billion.
Ransomware is also becoming an increasingly used method among criminals. The data from Group-IB went on to state that the use of cryptocurrency malware is coming from the U.S., accounting for 56.1 per cent. This was followed by the Netherlands at 21.5 per cent.
Notably, with interest rising in the cryptocurrency market, so too is the sophistication of malware attacks and exchange hacks. Countless incidents have been reported on involving malware. Back in June, an app called ADM.Miner was found on Android devices, which was using the hardware to mine cryp...
Stock trading app Robinhood has made ethereum classic (ETC) the sixth cryptocurrency listed on its recently-launched crypto trading platform. The $5.6 billion firm unveiled support for ethereum classic on Monday, providing investors in eligible U.S. states with the ability to hold ETC in their portfolios alongside their traditional equities investments. Robinhood has been rolling out Continued
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The slow trickle of traditional investment into the crypto
market may turn into a flood if a new platform launched by
blockchain services provider AxiomLevel Technologies makes its
AxiomLevels investor onboarding platform serves as a finance industry solution that caters toward institutional players with investor registration, verification and management. It contains a comprehensive know your customer (KYC) module, anti-money laundering (AML) compliance modules, and accredited investor verification, as well as a global whitelisting solution for digital wallets.
The Investor Onboarding Platform wants to ensure that every investor who enters the crypto market is not caught unawares or blindsided by any regulatory requirements or issues. It comprehensively outlines and resolves all potential pitfalls related to regulatory compliance and financial industry governance.
Speaking to Bitcoin Magazine, AxiomLevel Founder Raleigh Harbour explains the value and utility that his protocol may offer investors.
AxiomLevel appeals to two audiences: First, to a company issuing or transacting in a token. The technology provides a high level of confidence of regulatory compliance, while at the same time making the process for their investors and users easy, intuitive and seamless.
Second, for the investor or user themselves, it will grow to become a verified, self-sovereign transaction passport, saving them from having to undergo registration over-and-over again and empowering them to own and control their own identity, Harbour said.
Over the past few months, there have been signs that institutional capital is preparing to make its long-awaited entry into the crypto market, the infusion of which could breathe life into an anemic market. The Big Four accounting firms have all announced separate initiatives to prepare for the unique challenge of digital assets tracking and tax compliance, and the Intercontinetal Exchange recently unveiled Bakkt, a crypto point of sale platform and retail ecosystem. In May, Goldman Sachs announced plans to trade bitcoin futures contracts.
Amidst salient news for the m...
A lot of people in Switzerland have left the traditional financial sector to work in the crypto space, in which the banking nation is now developing a niche market. The Swiss banks dont show enthusiasm officially, but they massively have interests in dealing with Bitcoin, insiders say.
At this years G20 finance ministers meeting in Buenos Aires, the Swiss Federal Councillor and Finance Minister underlined Switzerlands position on cryptocurrencies, saying that digital assets offer a great potential for financial services.
The latest Credit Suisse crypto mover is Andrew Peel, efinancialcareers reported, Peel has left Credit Suisse to become head of digital asset markets at Morgan Stanley. Hes not the only one. At least eleven other people at Credit Suisses Zurich office have also succumbed to joining the crypto world in the past year, the financial news outlet highlighted, Peel was reportedly the latest to go with that flow.
Switzerland has seen a wave of crypto startup companies rushing into Zurich, Switzerlands financial capital, and Zug, a Swiss town now commonly known as Crypto Valley, in the past two years. Many Swiss...
Robinhood announced Monday that its customers can now invest in ethereum classic (ETC), just a day before Coinbase adds the option too.
By Vin Armani Watch live at 1 pm EST (10 am PST) This week we talk about building the world you want to see....
Goldman Sachs is planning custody offerings for crypto funds, insider sources tell Bloomberg
A publicly traded biotech giant traded on South Korea is turning to blockchain to permit it to share genetic data without risk of hacking or infringement of patients privacy. Macrogen, a DNA sequencing service supplier with headquarters in Seoul, said in a media release on Monday that its working with Big Data firm Bigster to develop a blockchain network for the distribution of genomic info, which is intended for completion by June 2019. At the health care field, in accordance with release, the genomic data is utilized for customized patient identification and therapy, whereas the pharmaceutical sector can utilize it for the development of new medications and therapeutic agents.
Yet, regardless of the high use value of the DNA data in healthcare, it isnt broadly shared because of the very sensitive nature of the info to patients and the potential risk of privacy breaches. Yang Kap seok, Chief executive officer of Macrogen, commented at the release: in spite of the fact that genomic data are widely used, it hasnt was easy to share it due to the problem of personal information protection. With the blockchain platform we seek to create this timewe expects to create an ecosystem which can freely distribute genetic data. To that end, the firms plan a system based on a consortium blockchain model which will only enable invited parties like pharmaceutical companies, research institutes, hospitals and genetics evaluation startups to run as nodes in a decentralized network, restricting who can access the data.
Macrogen isnt the only technology giant looking to employ blockchain technology inside the genomics industry. As far back as 2014, an Israeli startup called DNA. Bits announced plans to store genetic and medical record data using blockchain technology. And, as previously mentioned by CoinDesk, a patent application filed by Intel suggested that the hardware company is investigating ways to take benefit of the energy created during cryptocurrency mining to order DNA. DNA sequence picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin mining hardware giant Bitmain is formally setting up shop in Rockdale, Texas, and hopes to launch mining operations early next year. The company confirmed Monday that its investing $500 million within the next seven years in a brand new blockchain data center at the U.S. Country as part of its strategic investment and expansion plans in North America. The facility will use 400 residents, and Bitmain too plans to launch educational and training programs for potential employees. Rumors that Bitmain would start the facility first surfaced last month when a local paper reported that the company was taking over an old aluminium smelting facility, in accordance with the Dallas News.
But, public officials stated they couldnt talk about the job at the time. With that being said, the paper described the new bitcoin mining operation as the worst kept secret at the Rockdale area. The Chinese mining company, valued at approximately $12 billion, had already posted preliminary job openings to the move on-line employment listings site Indeed.com. Bitmains Rockdale surgeries joins its planned Washington state facility. This past Apr, Bitmain has received approval of a land lease to set up mining operations from the nation, although it faced a backlash from a local residents doubtful about cripto mining with one asserting it creates wealth for the owner with no drip down.
Beyond expanding operations at the U.S., Bitmain is also reportedly looking to open offices in Brazil, having already successfully established several international bases wherein to execute bitcoin mining operations in both Switzerland and Israel. Mining picture via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A blockchain-based platform is addressing the class divide in education through an AI chatbot that is claimed to cost up to 95 percent less than private tuition #SPONSORED
One of the worlds most well-known investment bank is mulling launching a custodial service to store bitcoin for investment funds that want to hold cryptocurrency. Goldman Sachs May Custody Cryptocurrencies Citing multiple anonymous sources familiar with the matter, Bloomberg reports that Goldman Sachs, the second-largest investment bank, is holding discussions about becoming one of the Continued
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ConsenSys, the Ethereum production studio based in the U.S.,
launched ConsenSys Ventures last year
selecting Kavita Gupta to run two funds of $50 million and $100
Bitcoin Magazine caught up with ConsenSys Gupta to discuss the launch of project Tachyon and the launch of ConsenSys India, as well as the various factors that come into play in deciding where to allocate funds.
Kavita Gupta: Since the launch of ConsenSys Ventures, our team came across a large number of very promising blockchain-based projects. While many of these solutions have the potential to solve problems across industries and geographies, a lot of the teams need support that goes beyond just providing capital. With this in mind, we wanted to build a platform that will identify and foster the talented teams with unique ideas.
These teams will have a unique opportunity to learn and be mentored by both the Web 2.0 world and Web 3.0. The 8-week immersion program will give the companies all the tools and training necessary to build an MVP and successfully launch their pre-seed and seed rounds.
To attract a diverse cohort of up to 1518 teams, within the accelerator we are offering three tracks: Blockchain for Social Impact track; the Ethereum Project track; and an Open Source, blockchain-agnostic, grant-driven track. Upon completion of the program we will have a demo day that will be exclusive to the most prominent angel and venture capital investors with expertise and passion for the blockchain technology.
The word tachyon represents a particle that travels faster than light, and we at ConsenSys and ConsenSys Ventures want to build more than just an accelerator. We want to build an ecosystem around the program that will help our teams scale and launch their products and implement their vision at a fast fashion without compromising on the execution.
The wider ConsenSys mesh ecosystem will enable us to do that. The participating teams will have an exclusive access to the internal expertise and mentorship that they can tap into while building their products.
Bitcoin mining hardware giant Bitmain is officially setting up shop in Rockdale, Texas, and expects to launch mining operations early next year.
This week in Las Vegas there are two well-known events taking place dedicated to information security and the global hacking counterculture Black Hat Arsenal and Defcon 2018. During the conference festivities, there will be a bunch of demonstrations showcasing all kinds of hacker tools, security services, and engineering studies. Two developers from the intelligence platform firm Trustar will be revealing a new early warning system called White Rabbit that detects emerging ransomware campaigns that utilize the Bitcoin Core (BTC) network for ransom payments.
Right now, many tech-savvy enthusiasts, cyberpunks, and hackers are gathering in Las Vegas to attend two w...
Earlier this year, Elizabeth Stark, CEO of cryptocurrency development startup Lightning Labs, famously said that the industry had begun to enter a bitcoin not blockchain era as mainstream firms came to recognize the value of cryptocurrency technology. Not everyone, however, is ready to hop off the blockchain not bitcoin train. Speaking with the Harvard Business Continued
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What does Brexit mean for crypto in the U.K.?
A biotech giant based in South Korea is turning to blockchain to allow it to share genetic data without risking patients' privacy.
Researchers in one of the top universities in China says theyve developed a decentralized market, not to get crypto assets, but also for unused power. A patent application filed by the team of the Chinese University of Fudan in January and shown on Friday sets out the workings of a blockchain based electricity market that assigns power buyers and sellers as nodes on the network and enables them to securely trade autonomous power without a 3rd party intermediary. Utilizing the network, nodes may broadcast requests for sales or purchases, and smart contracts will connect to matching asks, based on information like volume and price, and after that trigger transactions a mechanism very comparable to that of a decentralized crypto exchange.
The effort is a response to the growing supply of renewable energy in China, particularly solar energy generated by households, that is frequently generated in excess of demand in certain regions. The researchers write: Households then dont have any other options, but to allow the solar energy go to waste since they do not have an immediate way of exchanging electricity. To facilitate transactions on a decentralized network, an electronic currency could be used between sellers and buyers, the patent application clarified. Though it is not apparent which electronic asset the platform may utilize, the system has so far been made to constructed on two blockchain systems, in accordance with the Fudan team.
This notion can be achieved in a public, private or even a consortium blockchain. In this case, the system was developed on IBMs Hyperledger platform and also the ethereum blockchain, to make electricity exchangeable and shareable in a neighborhood, the document says. Read the Entire patent application below: Fudan University patent application by CoinDesk on Scribd. Solar power panels picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Four months after a security patch for MikroTik routers was released, some of the users of the devices who ignored fixing the vulnerability have now been turned into unwitting miners of Monero. Known as CVE-2018-14847 the security flaw in MikroTik routers is being exploited with a view of installing the Coinhive cryptocurrency mining script in Continued
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The enterprise DLT startup now sees a vast range of opportunities, both within the industry where its founder spent most of her career and outside it.
JPMorgans Jamie Dimon calls Bitcoin a scam after months of refusing to comment on cryptocurrency
In todays edition of Bitcoin in Brief we cover a number
of new academic education centers around the world devoted to the
research of the technology behind cryptocurrency, and demands by
Vietnamese victims for an alleged fraudsters extradition plus an
update about Kickico.
China Internet Nationwide Financial Services Inc. (NASDAQ: CIFS), a financial advisory services provider, has announced an agreement with Tsinghua University to establish an Industry Trusted Blockch...
The government of the Telangana, a southern Indian state, is partnering with a major IT firm to establish a district exclusive to blockchain startups in the states capital city. The Telangana State Information Technology, Electronics and Communication Department (ITE&C) has inked a memorandum of understanding (MoU) with multinational IT services giant Tech Mahindra to establish Continued
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U.S. crypto exchange and wallet provider Coinbase has been given the green light from regulators to resume its services to residents of Wyoming
The bears are still in control as we start another week in crypto land. The selloff which started around two weeks ago has continued unabated as market capitalization drops back down to just over $250 billion equating to a loss of almost $50 billion in just a fortnight.
Bitcoin has not managed to hold support levels and has continued to slide, falling back around one percent below $7k for the first time since mid-July. BTC is currently trading at $6,995 as volume has fallen 17% to $3.7 billion in 24 hours. Ethereum has not fared any better but has not made any further losses on the day trading at a similar level of just under $410.
The altcoins are pretty mixed but very few of them are showing any major movements over the past 24 hours. Taking the biggest dip in the top ten is Iota which has lost 4.3% to trade at $0.88, its lowest level since November 2017. Stellar has also lost another 2.3% sliding back to $0.237.
Looking at the top twenty altcoins shows a similar picture however there are a couple making gains at the moment. Ethereum Classic is still climbing, up 3.4% to $17.21, boosted by Coinbase which will be enabling ETC trading this week. Zcash is also climbing today with a 5.6% rise to $187, on the week however ZEC is down 13% since last Monday.
The two altcoins making the most in the top one hundred today are Holo up 23% and MOAC climbing 13%. At the other end of the spectrum is Dentacoin which has lost 6.7%. No cryptocurrency is standing out at the moment as markets remain generally flaccid.
Total crypto market capitalization has dropped just under one percent on the day to $254 billion. It hit a low of $251 billion on Sunday and further losses look likely. Trade volume has also declined marginally and is currently at $11 billion.
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals
A team from one of the top universities in China has developed a decentralized exchange, not for crypto assets, but for unused electricity.
A state authorities in India is working with a multinational IT services giant to construct a district inside the state capital devoted to blockchain startups. The IT department of the Telangana state authorities on Friday signed a Memorandum of Understanding with Tech Mahindra, a publicly listed firm with headquarters in India, which will see the two teaming up to build what they claim will be the nations first blockchain district. Economic Times reported that the blockchain district will inhabit a place within Hyderabad the states capital city with physical buildings to house and incubate blockchain companies in India as part of the governments drive to advance the technologys development.
According to business information outlet Inc24, the state authorities will be mainly accountable for building the infrastructure of the district and providing policy and regulatory assistance for blockchain startups. Tech Mahindra, and on the other hand, will offer experience focused on blockchain ecosystem and technical abilities. According to a statement on Friday, Tech Mahindra is also working on developing a blockchain platform tailor made for startups in the nation, known as Eleven01 protocol. As mentioned previously by CoinDesk, the IT giant has also been working with overseas blockchain startups to bring solutions to the Indian market. The blockchain district marks the most recent effort by an Indian country advance blockchain development with the government supported initiatives.
Telanganas neighboring state of Andhra Pradesh previously signed an arrangement With a fund to begin development of a blockchain ecosystem as part of the states Fintech Valley Vizag initiative. In the mean time, Both Andhra Pradesh and Telangana have also were researching blockchain technology to rework their land registers, as previously reported by CoinDesk. Hyderabad image via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin's price dropped to 19-day lows below $7,000 and created a doji candle on Sunday, signaling indecision in the marketplace.
Fred Schebesta, a 26-year old entrepreneur who co-founded comparison website Finder.com, wants to open a crypto bank in Australia. Schebesta believes that interest in cryptocurrency is growing and soon people will need an institution which can fulfill their crypto needs. Bitcoin is Not a Bubble In an interview with Australian news website News.com.au, Schebesta said that Continued
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South Koreas two largest crypto exchanges UPbit and Gopax are backed by the countrys biggest bank and internet company Shinhan Bank and Kakao.
The vast majority of investors in South Korea are already well aware that the countrys major crypto exchanges are financed and operated by some of the largest conglomerates in South Korea. Korbit was acquired by NXC, the parent company of $10 billion gaming giant Nexon, making the three biggest digital asset trading platforms in South Korea subsidiaries of corporations worth of tens of billions of dollars.
The cryptocurrency exchange landscape of South Korea is unique in that as with every other industry, the countrys most influential conglomerates have control over the trading platforms. Shinhan Bank, the biggest commercial bank in South Korea, is the lead investor in Gopax, and Kakao, the countrys largest internet conglomerate, has operated UPbit since 2017.
Bithumb and its recent controversy surrounding the exchanges $40 million security breach and the companys controversial decision to freeze deposits and withdrawals for over a month have led investors to migrate to UPbit, Gopax, and Korbit, have allowed the trio to dominate the local market.
To users and investors outside of South Korea, Gopax is relatively unknown due to the companys lack of partnerships with foreign exchanges and presence in foreign markets.
However, with the assistance of Shinhan Bank, Gopax has evolved into a major cryptocurrency exchange in South Korea in a relatively short period, garnering the trust of local investors by focusing on technology, security, and efficiency.
UPbit, the more well known major cryptocurrency exchange in South Korea to overseas markets, has been operated by Dunamoo, a subsidiary of Kakao, since early 2017. As the countrys leading internet conglomerate, Kakao has nearly 90 percent market dominance in fintech, ride-sharding, online stock trading, and social media, with KakaoPay, KakaoTaxi, KakaoStock, KakaoStory, and KakaoTalk.
Contrary to reports in mainstream media, Starbucks has clarified that it will not be accepting direct bitcoin payments at coffee retail outlets. As reported by CCN on Friday, Starbucks is part of a new cryptocurrency venture with Microsoft and the Intercontinental Exchange (ICE) dubbed Bakkt, a regulated Wall Street platform that could fundamentally bring cryptocurrencies
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An Indian state is working with Tech Mahindra to build a new district within the state capital dedicated to incubating blockchain startups
Bitcoin price is slowly recovering above $7,000 against the US Dollar. BTC/USD is likely to struggle near a significant resistance at $7,260.
After heavy declines, bitcoin price found bids near the $6,880 level against the US Dollar. The BTC/USD pair traded as low as $6,883 and later it started an upside correction. The price moved above the 23.6% Fib retracement level of the last slide from the 7,532 high to $6,883 low. More importantly, there was a break above the $7,000 handle, which opened the doors for more recoveries.
At the moment, the price is struggling to clear the $7,130 level and is consolidating in a range. Above $7,130, there is a significant resistance formed near $7,260. There is also a crucial bearish trend line in place with resistance at $7,260 on the hourly chart of the BTC/USD pair. An intermediate resistance is the 50% Fib retracement level of the last slide from the 7,532 high to $6,883 low at $7,207. Additionally, the same trend line is positioned with the 100 hourly SMA at $7,270. Therefore, there are many resistances aligned between $7,210 and $7,270.
Looking at the chart, BTC price may perhaps move further above $7,130. However, it wont be easy for bitcoin buyers to clear the $7,260 barrier. On the downside, an initial support is at $7,000. Below this, the price may possibly move back towards the $6,800 level.
Looking at the technical indicators:...
Bitcoin vs. Gold: Which Is Better Off As Trade Wars Escalate? By Alex Kimani Safe Haven The worlds two biggest economies are at loggerheads, and it just keeps getting worse. The U.S. is reportedly now considering imposing 25 percent tariffs on...
The post Bitcoin vs. Gold: Which Is Better Off As Trade Wars Escalate? appeared first on The Daily Coin.
Over the past 24 hours, tokens including Digibyte, Aelf, Polymath, and 0x have rebounded, pushing the valuation of the crypto market to $258 billion. Both Bitcoin and Ether, the native cryptocurrency of Ethereum, recorded a two percent increase from yesterdays price range, as Bitcoin rebounded to $7,160 and Ether reached $413. However, in the past Continued
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Blockchain is exploring space: Heres how technology is used both by NASA and smaller startups
Cardano price is slowly recovering against the US Dollar and Bitcoin. ADA/USD may perhaps continue to move higher towards the $0.1400 resistance.
There was a solid support base formed near $0.1225 in cardano price against the US Dollar. The ADA/USD pair started an upside move and traded above the $0.1250 and $0.1300 resistance levels. It gained traction above $0.1300 and settled above the 100 hourly simple moving average. Buyers also pushed the price above the 50% Fib retracement level of the last decline from the 0.1451 high to $0.1221 low.
Moreover, there was a break above a key contracting triangle with resistance near $0.1290 on the hourly chart of the ADA/USD pair. The pair traded above the $0.1350 level, but it faced sellers near the $0.1360 level. The 61.8% Fib retracement level of the last decline from the 0.1451 high to $0.1221 low also acted as a hurdle. The price is currently consolidating above $0.1300 and the 100 hourly SMA. If the price breaks the $0.1360 resistance, it will most likely surpass the $0.1380 level to test the $0.1400 level.
The chart indicates that ADA price is trading in a positive zone above the $0.1300 level. If it fails to stay above $0.1300, it may perhaps revisit the $0.1225 support. On the upside, a break above $0.1360 and $0.1400 could open the doors for a solid recovery in the near term.
Can smarter airdrops help crypto projects build communities and keep speculation at bay?
Thailands central bank has announced the rules under which financial institutions, including commercial banks, and their subsidiaries can engage in cryptocurrency activities. They include securities, asset management, and insurance firms. This follows the countrys crypto regulatory framework that went into effect last month.
Thailands central bank, the Bank of Thailand (BOT), issued a circular dated August 1 to all financial institutions in the country, informing them of its new crypto policies.Part of the Bank of Thailands August 1 circular.
Citing that the country now has a...
As the Bank of Japan tries in futile to reach their goal of a 2% inflation rate through monetary stimulus, new methods for lifting the economic constraints caused by deflation are being discussed. Japan may find that following in Swedens footsteps by abolishing cash may solve many of their economic problems.
Over the past five years, the Bank of Japan has tripled its monetary base and implemented policies in an effort to reach an inflation-rate target of 2% by 2019. The issue with the Bank of Japans goal is that the injection of new money into the economy simply hasnt gotten the country close to any of its fiscal goals.
The recently implemented policies were drafted and implemented under BOJ chief Haruhiko Kuroda, who began his tenure in 2013 by expanding the central banks holdings in government bonds and bills, raising the BOJs holdings from 12% to 48% of outstanding securities. Kuroda also made the BOJ one of the top 10 shareholders in 40% of publicly traded companies in Japan. These aggressive and unprecedented actions were taken in an effort to stop the countrys slide into deflation that had been occurring for many years prior to when Kuroda took his seat as the BOJ chief.
Although promising, increasing the BOJs ownership in outstanding securities and publicly traded companies did little to stop deflation. Because of this, Kuroda decided to lead the BOJ to adopt a policy of negative interest rates. Although European countries like Sweden, Denmark, and Switzerland had all seen positive effects from negative interest rates, Japans economy didnt see any benefits stemming from the policy change.
In a recent Bloomberg Opinion piece, Andy Mukherjee speculates that the issuance of a national digital currency could be worth trying.
Mukherjee notes that the side effects of negative interest rates led to another issue: a surplus of bank notes. The negative interest rate policy forced banks and lenders to pay the BOJ interest on their surplus funds, which, in turn, cau...
Argo Blockchain, a UK-based digital coin mining company has become the first cryptocurrency company to be listed on the London Stock Exchange. The company recently completed an initial Public Offering (IPO), placing 156,250,000 ordinary shares accounting for 53.2% of its issued share capital valued at 0.16 GBP each.The IPO raised 25 million GBP ($32.5 million), Continued
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Ripple price is showing positive signs against the US Dollar and Bitcoin. XRP/USD has to move past $0.4370 to test the next hurdle near the $0.4500 level.
There were many rejections noted near the $0.4270 level in Ripple price against the US Dollar. The XRP/USD pair formed a solid support base around $0.4270 and moved higher. The price traded above the 23.6% Fib retracement level of the last slide from the $0.4446 high to $0.4266 low. These are positive signs, but the price is facing a key resistance near $0.4370.
During the recent upside, there was a short-term break above a bearish trend line at $0.4320 on the hourly chart of the XRP/USD pair. However, the price faced a strong selling interest near $0.4365-70 and the 100 hourly simple moving average. Moreover, the 50% Fib retracement level of the last slide from the $0.4446 high to $0.4266 low also acted as a resistance. Therefore, there could be a minor downside push towards the $0.4300-20 zone in the near term. On the upside, a break above $0.4370 could open the doors for more gains towards the $0.4500 level.
Looking at the chart, the price remains well supported above the $0.4270 level. Should there be a break below this, the price may perhaps move towards the $0.4100 level. The overall bias is positive as long as the price is above $0.4270.
Looking at the technical indicators:
Heres what happened this week in Bitcoin in 99 seconds. The unexpected price drop in Bitcoin last week likely resulted from a failed margin call on a massive position on Hong Kongs OKEx exchange. A highly-leveraged position, representing about $416 million, had to be liquidated by the exchange onc
Ethereum price remains in a downtrend against the US Dollar and bitcoin. ETH/USD must clear the $412 and $728 resistances to gain traction in the near term.
There were heavy losses below $440 this past week in ETH price against the US Dollar. The ETH/USD pair traded below $400, but it later recovered and started consolidating in a range. It seems like the price is forming a decent support near the $400-402 zone. It recently traded above the 50% Fib retracement level of the recent slide from the $420 high to $399 low.
However, the price is currently facing a major resistance near $412 and the 100 hourly simple moving average. There is also a crucial bearish trend line in place with resistance at $412 on the hourly chart of ETH/USD. Moreover, the 61.8% Fib retracement level of the recent slide from the $420 high to $399 low is also near $412. Therefore, a break and close above $412 is needed for more gains in the near term. Above this, the next important hurdle for a larger recovery is around the $428 level. It represents a significant pivot level and a barrier for a push towards the $440 level.
Looking at the chart, ETH price is currently attempting a recovery above $410, but it facing many hurdles near the $412, $416 and $428 levels. On the downside, the $402 and $400 levels are important supports.
Hourly MACD The MACD is slowly moving in the bull...
Adoption news keeps flowing this week, from Wall Street to Australia, and now San Francisco. The United States largest cryptocurrency bank, Coinbase, announced it is expanding its commerce section to include Woo Commerce via a plugin downloadable from Github. It could be just what more online merchants need to get comfortable with cryptocurrency.
More than a quarter of all online merchants use Woo Commerce. Its easily one of the most popular payment platforms around. This week, Coinbase announced it is releasing a Woo Commerce plugin as part of its proprietary Coinbase Commerce offering which can be downloaded from Github.
Coinbase Commerce is itself a payment solution focusing...
The San Fransisco based cryptocurrency exchange Coinbase is offering services to residents living in the U.S. State of Wyoming. The exchange has published a blog article on Saturday its renewed its silver issuer license in Wyoming, marking a long waited return because Coinbase suddenly pulled out of the state 3 years back. As mentioned previously by CoinDesk, Coinbase announced in June 2015 itd be impractical and costly to continue its services from Wyoming after state regulators explained the firm collapsed under its Money Transmitter Act. The Act required at that time that Coinbase should double reserve state residents assets meaning holding fiat currency reserves for many crypto assets held on consumers behalf in order to renew the money transmitter license.
Nevertheless, the Cowboy State passed a noteworthy invoice In March of the year that amended the Money Transmitters Act to provide exemption for virtual currency. As Coinbase clarified in the blog article, the regulatory shift means cryptocurrency businesses in Wyoming is no longer needed to double reserve the assets of state residents. With the permit renewal, Coinbase stated Wyoming clients can regain access to funds stored in their accounts to continue trading and utilizing cryptocurrencies. We believe this activity by Wyoming will spur innovation and economic action for people, communities and families across the state, the business said. Wyoming image via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Comparing the performance of the new Raven x16r/x16s Spmod-git #5 miner to the recently released z-enemy 1.14 miner it is still a bit slower. Maybe it is on par with the previous release 1.12 of z-enemy in terms of hashrate, however you should not forget that the z-enemy miner is a closed source one and comes with a built-in 1% developer fee, while, surprisingly, the Raven x16r/x16s Spmod-git #5 miner is free, open source and with no dev fee.
Cardano Price Highlights
Cardano price could be in for a correction from its breakdown before gaining more traction on its slide.
Technical Indicators Signals
The 100 SMA is still above the longer-term 200 SMA on the 4-hour time frame to signal that the path of least resistance is to the upside. However, the gap has narrowed enough to suggest that a bearish crossover is looming, giving bears more energy to push Cardano price down.
Using the Fib tool on the latest swing high and low shows that the 38.2% to 50% levels are in line with the broken channel support that might hold as resistance from here. These are also close to the dynamic inflection points at the moving averages.
RSI is still moving up to show that buyers still have the upper hand for now and could keep the correction going for a while. Similarly stochastic is heading higher to signal the presence of bullish pressure as well. Once both oscillators hit overbought levels and turn back down, selling pressure could return and lead to a drop back to the swing low.
There might still be a chance for Cardano bulls to return, though, as the group released its road map and key principles for future growth. In the latest update, it stated:
We are currently in Byron, the bootstrap phase, where we are making improvements. These include to the code, for example in the wallet backend, and debugging. We will improve the design of Daedalus and make integration through APIs to third parties simpler. We will then move from Byron to Shelley, where the network becomes decentralized....
Bitcoin Price Key Highlights
Bitcoin price is making a deeper correction from its earlier rally, and technical indicators suggest that the climb could resume.
Technical Indicators Signals
The 100 SMA is safely above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This basically means that its more likely for the uptrend to resume than to reverse. However, bitcoin price is below the 200 SMA dynamic inflection point to signal weaker bullish pressure.
Price is still within the area of interest or former resistance around $6,800 to $7,000, which might hold as support from here. A rising trend line can also be drawn to connect the lows since the third week of July.
RSI is already turning higher after indicating oversold conditions and showing a bit of bullish divergence. This means that buyers are ready to return and push bitcoin price back up. The 38.2% extension is near the 100 SMA dynamic inflection point at $7,826 then the 61.8% extension lines up with the swing high near $8,500.
Stronger bullish momentum could take bitcoin price up to the 78.6% extension at $8,827 or the full extension at $9,357. Stochastic is also starting to climb out of the oversold region, also indicating a pickup in buying pressure.
Bitcoin price took some hits after Starbucks clarified that it is not accepting bitcoin payments in stores, even after partnering with ICE for a digital platform called Bakkt. Traders...
Bitcoin cash price is slowly recovering above $700 against the US Dollar. BCH/USD may perhaps recover further towards the next hurdle at $740.
This past week, we saw heavy declines below the $750 support in bitcoin cash price against the US Dollar. The BCH/USD pair declined and broke the $720 and $700 support levels. It traded as low as $684 and later started an upside correction above $700. It broke the 23.6% Fib retracement level of the last decline from the $736 high to $684 low. It seems like the price moved into a short-term positive zone above $700.
During the rise, there was a break above a short-term bearish trend line with resistance at $705 on the hourly chart of the BCH/USD pair. At the moment, the price is trading near the $7220 resistance and the 100 hourly simple moving average. Moreover, the 61.8% Fib retracement level of the last decline from the $736 high to $684 low is at $716. Therefore, a break and close above the $720 resistance could open the doors for more gains. The next major hurdle on the upside is near the last high at $736 and $740.
Looking at the chart, BCH price is slowly moving higher, but upsides may well be limited near the $735-740 zone. Above this, the price could trade above $750 in the near term.
Looking at the technical indicators:
Three years since Coinbase pulled out from Wyoming, it is now returning to the Cowboy State after renewing its money transmitter license.
A cryptocurrency investor has brought a lawsuit against cryptocurrency exchange Okcoin regarding 38.748 BCH. The plaintiff accuses the exchange of failing to allow him to claim the Bitcoin Cash that were created following last years fork, to which the exchange allegedly responded that he had failed to claim the coins within an apparently undisclosed deadline.
A Chinese bitcoin investor has filed a lawsuit against Okcoin in what Legalweekly has described as the first Chinese suit pertaining to last years bitcoin fork.
According to the publicatio...
Regardless of all these strong fundamentals ranging from CoinBase custodial services to Star Buck acceptance of Bitcoin via International Exchange, Bitcoin (BTC) isnt finding any support. As a matter of fact, it looks likely that sellers might drive prices below $6,800 this week. Of course, when this happens, our long position would no longer hold.
[Re-Notice] The resuming of the deposit/withdrawal services for 9 types of crytocurrencies first
List of cryptocurrencies (9 in total)
: BTC, ETH, ETC, XRP, LTC, BCH, ZEC, QTUM, MITH
Open time : 4, Aug (Sat) 2018 19:00 PM
Bithumb (@BithumbOfficial) August 4, 2018
The recent selling pressure experienced by BTC has driven a surge in the peer-to-peer trade volume for numerous emerging cryptocurrency markets. The Localbitcoins markets for the Philippines, Iran, and Kazakhstan have all seen a significant upswing in the number of bitcoins traded in recent weeks.
The week of the 28th of July posted the second highest weekly volume for trade between BTC and the Philippine Peso (PHP) on Localbitcoins for 2018, according to Coin.dance.
This past week saw 39 BTC trade hands via the Philippines Localbitcoins markets comprising the highest of number of BTC traded since the week of...
Roger Ver, a prominent cryptocurrency investor who has backed some of the largest companies in the global crypto sector such as Blockchain, Zcash, BitPay, and Kraken, recently sent the governor of Jeju Island of South Korea $100 worth of bitcoin cash at a public event. Humorous Kim Yeong-Ran Rule Banter Over the weekend, Ver visited Continued
The post Roger Ver Sent Governor of Jeju Island $100 in Bitcoin Cash, Did it Violate Local Policy? appeared first on CCN
Even with our altcoins optimism, there seem to be no demand to buoy further higher highs. We can rightly see that in Stellar Lumens, Litecoin and IOTA charts. Most noteworthy from all altcoins under our review is IOTA which is simply flat despite announcement of IOTA Hub. This hub allows for easy exchanges integration and listing of IOTA. By all accounts that was bullish but as long as prices are below $1, we are neutral but with a heavy bearish leaning.
EOS community! REX tokens! What are they? Find out here in this summary of Dan Larimers proposal EOS Resource Renting & Rent Distribution https://t.co/5SRU3NizUd #Blockchain #blockchaintechnology #EOS #EOSUK #eosio #cryptocurrency pic.twitter.com/exUnFtob5g
eosuk.io (@eosukbp) August 5, 2018
Over the past few years, the number of people hunting for Satoshi Nakamoto has increased as people all over the world have been in search of the mysterious creator of Bitcoin. The cryptocurrency-community has also seen a few people come out of the woodwork recently, who have claimed to be Satoshi or have been accused of being the currencys creator. Then theres that one guy who says hes Nakamoto and has published the first chapter of his autobiography. One investigative approach thats been used often to try and uncover Satoshi Nakamotos identity is a scientific method called stylometry, which shows that there are very few people living on earth that have ever written like Nakamoto and the crypto-inventors writing style is not easy to plagiarize.
After yesterdays market tumble, Bitcoin continues to trade around the $7,000 mark, while other major cryptocurrencies are seeing marked gains
SportsCastr, a live-streaming platform that allows anyone to become a color commentator, announced recently that the NFL Players Association (NFLPA), via its athlete-driven accelerator the OneTeam Collective, has acquired a minority stake in the company to power live, interactive video content for fans. Through this partnership, active and former NFL players will use SportsCastr to
The post NFL Players Association Invests in Blockchain Startup appeared first on CCN
Queensland, Australia is giving away millions with its Ignite Ideas fund. This week, it posted details regarding the AUD$8.3 million grant ($6.1 million USD). Something like 70 regional companies shared the bounty, including a cryptocurrency startup, Travelbybit, which managed to snag AUD$100,000 on its way to promoting tourism using crypto.
Tourism is one of Queenslands most important
industries, Innovation Minister Kate Jones announced. Travelbybit
has devised a clever way to make it easier for visitors to our
state to pay for their purchases with a growing number of local
businesses accepting cryptocurrency payments. The company was
chosen as part of a larger government initiative, the Advance
Queensland Ignite Ideas funding.
Minister Jones continues, Ignite Ideas was about supporting entrepreneurs from across Queensland to grow their businesses and employ more staff. I understand TravelbyBit is specifically targeting places like Bundaberg using cryptocurrency to make it easier for tourists to book holidays. Thats why weve invested to help them scale-up their operation and ultimately create more jobs in Queensland.
If youve ever thought of acquiring a digital, virtual citizenship, there are a couple of new options on the table a Satoshi Nakamoto Republic and a Soviet Land on blockchain, among others. True, crypto passports often come with coin offerings that you might not necessarily be interested in But the blockchain republics also promise social justice, new or forgotten models of governance, voting rights for every citizen.
Also read: This ICO Project Wants to Detokenize Itself
The idea of a crypto state, a blockchain republic, is not new but the marketing strategies for selling it are changing all the time. The authors of the latest such project have decided to attract citizens by invoking nostalgic memori...
Anyone getting involved with leveraged trading must
assume upon themselves the risks associated with the potentially
highly rewarding practice. A recent event should remind traders
that, sometimes, even when the trade goes your way, you can still
take a hit. Okex socialized one traders massive loss on BTC futures
with a clawback.
Okex, the Chinese-run cryptocurrency exchange based in Hong Kong, has announced on Friday that an enormous long position in BTC0928 futures contract was force-liquidated on July 31, 2018. And due to the sheer size of the order, worth over $400 million, the uncovered loss (about $9 million) will need to be socialized with a clawback.
According to the venues societal loss risk management mechanism,...
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