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A Bitcoin trader from Lanseria in South Africa narrowly escaped death after being drugged, beaten, and tortured by suspected kidnappers. Narrating his near-death experience in a report in local news outlet Soweto Urban, the man, who is known only as Andrew, was invited for a presentation on cryptocurrency through a new contact on Facebook. The Continued
The post Bitcoin Trader Drugged, Beaten, & Tortured in South Africa appeared first on CCN
Ehud Barak served as the prime minister of Israel from
1999 to 2001. These days he makes a lot of money as an investor and
co-founder of startup companies in such fields as cyber espionage
and cannabis. However, he seems to think that investing in
cryptocurrency is less legitimate.
The former prime minister was the keynote speaker at a startup event in Tel Aviv on Sunday, held by the local financial newspaper Globes. He recently became the chairman of a medical marijuana company, so he was naturally asked about the subject, w...
The U.S. Department of Defense is seeking questions and clarification on tools for the forensic analysis of blockchains, including those implemented by privacy coins
According to the latest statistics, there are now fewer than 10 blockchains or crypto token networks worth much more than $1 billion. At time of writing, Cardanos ADA token was struggling to retain three-comma status, having dipped and recovered multiple times over the course of daily trading. The top value blockchain is still, of course, Continued
The post Single Digits: Just 9 Crypto Networks Have $1 Billion Market Caps appeared first on CCN
Grayscales Bitcoin Investment Trust was worth under $1 billion at the beginning of this month for the first time in 2018
The G20, an international forum for the governments and central bank governors from the worlds 20 largest economies, has decided to regulate the crypto sector. A declaration released by the forum read: We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other Continued
The post G20 Agrees to Regulate Crypto, But is This Good or Bad for the Market? appeared first on CCN
G20 members referred to crypto regulation in their declaration on sustainable development adopted at a recent meeting in Argentina
From Stockholm to New York, major global hubs are ditching cash for cards. As contactless payment devices including smartphones and smartwatches proliferate, hard currency is falling out of favor. But for all the convenience that touch payments bring, the cashless transition has major ramifications for the most underserved segments of society.
On June 1, 2018, shoppers across the U.K. ...
Crypto social media personality Trevon James, who was intimately involved in the promotion of the HYIP scheme BitConnect, which eventually led to law enforcement and legal action, says, in his infinite wisdom, that the Bitcoin price will be at $0 in ten years. 10 Years from now it won't matter if you bought Bitcoin at Continued
The post Bitconnect Pumper Trevon James Claims the Bitcoin Price is Going to Zero appeared first on CCN
Its no secret that 2018 has proven to be a rough year for the cryptocurrency markets, which have seen their market capitalization plummet from highs of over $800 million in January of 2018 to recently established yearly lows of under $120 billion.
The poor market performance, which can be attributed to little more than a boom-and-bust market cycle, has left many investors wondering when the markets will recover, and looking towards upcoming platforms and products being offered by major players in the world of finance, including an institutional investment platform from Fidelity, and a Bitcoin product from the ICE-backed company, Bakkt.
Despite there being positive developments occuring, one legendary investor warns that the cryptocurrency markets may be entering into a nuclear winter, while also noting that the technology is exciting and that it does have an exciting future.
The comments were made by Jim Breyer, a billionaire investor who has board seats in notable companies, including Dell, Blackstone, and Walmart, during Fortunes 2018 Global Tech Forum in Guangzhou, China.
During the final keynote session of the event, Breyer, who is vocal about his bullishness on blockchain technology, said that he continues to be very interested in cryptocurrency and DLT-based companies, but further added that we are close to a nuclear winter right now with cryptocurrency.
Bitcoin, the largest cryptocurrency by market cap, is currently nearing its recently established 2018 lows of $3,600 and is currently trading down 80% from its late-2017 highs of nearly $20,000. Bitcoins poor market performance has led the altcoins markets into a downwards spiral that has sent many of their prices into territories not seen since early-to-mid 2017.
Related Reading: Mike Novogratz Expects Crypto Market Turnaround, Adoption in 2019...
As the market continues to tumble (and mining profits have
mining difficulty dropped by its largest percentile in seven
years the second largest downward correction in the cryptocurrencys
The last time bitcoin experienced an adjustment on par with this recent one was on October 16, 2011, when it dropped 13.1 percent. Just over two weeks later, the network would experience its most significant difficulty decrease, falling by 18 percent on November 1, 2011.
Now, on December 3, 2018, the networks mining difficulty has fallen by 15.1 percent as mining profitability has waned in response to struggling prices.
#Bitcoin just had its second largest drop in mining difficulty in history: -15.1%. This is the current ranking:Fernando Ulrich (@fernandoulrich) December 3, 2018
Since bitcoin plummeted from its months-long support at $6,000, community buzz has centered on anxieties of bitcoins mining profitability. If the price drops too low, the worry goes, then miners will stop mining, the network will struggle and things will only get worse.
Designated for every 2,016 blocks, Bitcoins difficulty adjustment is the networks self-correcting mechanism to ensure that miners can continue to find hashes below a specific target (i.e., that they can continue to produce hashes and find blocks fast enough without expending too much energy). If too many miners shut off their hardware, then the network will lower mining difficulty to compensate for the loss in hash power and decrease competition (in the inverse, if more miners join the network, then the difficulty will rise).
The downward correction in bitcoins mining difficulty is the expected byproduct of a worsening bear ma...
Bitcoin saw its second largest decrease in mining difficulty in its history at -15 percent
Beijings Municipal Bureau of Finance chief, Huo Xuewen, has advised projects considering a security token offering as a means of fundraising, stating that security token offering (STO) fundraising is currently illegal in Beijing. At a wealth management forum on Saturday, he commented on the replacement of ICOs with the new concept of STOs, saying they Continued
The post No Coins for You! Beijing Says Security Token Offerings are Illegal appeared first on CCN
The CEO of one of the largest cryptocurrency mining firms in North America says miners are being flushed out of the market after Bitcoins latest price drop.
While November has typically been among the most profitable months for Bitcoin investors in the past, this November led to the worst single-month decline since August 2011, dropping 37% in a month. Even with Bitcoin having already fallen over 70% from its all-time high of $20,000, full-blown panic didnt ensue until this break of critical support at $6,000.
With this latest decline, Bitcoins price is now well below the price at which Bitcoin mining provides a profitable return on investment, which currently hovers around $4,500.
Malachi Salcido, CEO of Washington-based cryptocurrency mining firm Salcido Enterprises, said that companies like his own are entering in the phase when theres a flushing out of the market, and that only relatively few operations will come out the other side, reports Bloomberg.
Related Reading: November Crypto Review: One-Third of Market Wiped Out
According to Salcido, the 22 megawatts of power his firm currently has deployed makes him among one of the largest miners in North America and the United States. The Washington-based cryptocurrency mining firm is building an additional 20 megawatts of power.
With Bitcoin prices plummeting and reaching levels of unprofitability for most miners, only those such as Salcido Enterprises who have access to low energy costs and have significant scale, can stay in operation. Salcido Enterprises base operations are located near the Columbia River and are privy to some of the...
Over the last couple of years, blockchain-based gaming has become more popular with collectible games like Spells of Genesis. One peer-to-peer game, Mafia Wars, is a blockchain-themed tournament based on well-known organized crime families from the 1920s.
A Counterparty-based game called Mafia Wars launched this past summer that allows online gamers the ability to become crime bosses from one of five families. The game is similar to other blockchain-based collectible card tournaments using the Counterparty platform, an application thats secured by the BTC network. To play, users need to purchase one of five family tokens on the Counterparty exchange. Players are allowed to choose from infamous organized crime groups such as the Lucchese, Bonanno, Colombo, Gambino and Genovese families.
Ethereum development studio ConsenSys, the New York-based blockchain startup, is restructuring as part of a move to streamline its business amid the crypto bear market. ConsenSys CEO Joseph Lubin, the co-founder of Ethereum, made the announcement in a company letter. We must retain, and in some cases regain, the lean and gritty startup mindset that made Continued
The post Ethereum Giant ConsenSys Tightens Belt, Will Axe Underperforming Projects appeared first on CCN
Global leaders walked away from the latest G20 Summit with a
rough game plan for crypto regulation.
This years G20 Summit took place in Buenos Aires, Argentina, from November 30 to December 1. International government officials, as well as some of the worlds largest corporations including Bank of America, Inter-American Development Bank, the World Trade Organization and the World Health Organization, gathered to discuss topics ranging from infrastructural development to sustainable food sourcing.
Among the topics examined at the summit included the creation of an open and resilient financial system that followed international laws and supported sustainable economic growth for all participants, at which point the subject of cryptocurrencies was brought up.
Eager to battle both money laundering and fraud in the financial market, leaders explained that they are looking to imprint stronger regulatory tactics on both cryptocurrency and blockchain businesses.
We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF [Financial Action Task Force] standards and we will consider other responses as needed, a summary of the summit reads.
Members also explained that they would explore the extradition of individuals responsible for stealing assets to regions where the offenses took place. Leaders of the summit say theyre now tasking relevant international organizations with reporting back to them on this and similar issues through the next meeting.
Its unclear whether or not the summits member countries will actually adopt this measure. Crypto theft was not specifically discussed, and its unclear if participants were referring to virtual currencies or simply fiat when examining the subject of asset theft.
In addition, summit members acknowledged that the global financial infrastructure is becoming more digitized and have sought to take stronger measures for sustaining finance and strengthening financial inclusion of otherwise non-participating regions. They are endorsing the G20 Financial Inclusion Policy guide, which seeks to provide voluntary policy recommendations to countries and organizations looking to facilitate digital financial services.
The summit also focused on tax efforts, mentioning that it is working on a globally fair, sustainable and modern international tax system based on tax treat...
Increased institutional interest in cryptocurrencies could signal a turnaround to a more bullish market next year, but how are coins faring in the near term? Lets find out
Frankly, it would be fair to say that bears have brutalized the crypto market and its constituents in 2018, throwing Bitcoin and its altcoin brethren off metaphorical cliffs.
However, in spite of the widespread carnage, some innovators remain tunnel-visioned, focused on bolstering the nascent crypto and blockchain ecosystem with no holds barred.
Speaking on a conference call Friday, presumably to address his firms dismal financial report, Mike Novogratz, Galaxy Digital CEO, did his utmost best to maintain an upbeat tone.
As noted by Bloomberg, who received a transcript of the call, Novogratz, a former traditionalist banker-turned-Bitcoin fanatic, couldnt avoid talk of the bear market, explaining that this year has been horrible for tokens. The cryptocurrency advocate added that theres plenty of reasons to be depressed, failing to adequately sugar coat the downturn in cryptocurrency values and the retail interest dry spell.
Touching on the proposed catalysts behind the sell-off, which left Galaxy Digital high and dry with $76 million in Q3 losses, Novogratz pointed to the U.S. Securities and Exchange Commissions (SECs) renewed crackdown on inital coin offerings (ICOs) and fraudulent crypto-centric startups.
While also discussing his firms financial condition, he elaborated:
And not just was [the SEC] tough on them [but] they mentioned personal investors can go for reparations in most cases. And people got very nervous We [at Galaxy Digital,] found that getting the right regulatory structure was just harder than we thought it would be.
The zealous pundit is likely referencing the SECs recent case involving AirFox and ParagonCoin, two lesser-known, yet successful ICO-funded projects that were charged for touting digital securities without proper credentials.
Still, Novogratzs bullish long-term o...
Former Israeli Prime Minister Ehud Barak praised blockchain as an important technology but thinks bitcoin is a Ponzi scheme that should be avoided. Barak who was prime minister from 1999 to 2001 made the remarks at the Globes Most Promising Startups event in Tel Aviv, Israel. Barak recently invested in, and became chairman of, the medical cannabis Continued
The post Bitcoin is a Ponzi Scheme, Says Former Israel Prime Minister Ehud Barak appeared first on CCN
Coinzoom Australia said Dec. 3 that it has been officially registered as a digital currency exchange with financial watchdog Austrac. The registration allows the exchange to operate legally according to Australian law. It will also function as a fiat-to-crypto exchange, with support for a variety of digital assets, including the buying and selling of BTC, BCH and XRP.
Being fully registered is an important step in our goal to provide globally compliant digital currency trading for both institutional and retail traders, Todd Crosland, chief executive officer of Coinzoom, said in an online statement.
Children in the Rwandan village of Kasebigege are being given a
greater chance to pursue a sound education as construction on a new
school, developed by bitcoin marketplace
Paxful, has been completed.
Located in the Bugesera District, the school is a primary institution designed for children between the ages of 6 and 15. It's Paxful's second Philanthropic endeavor in the village, and construction was finished roughly one year after the company built a nursery education center in December 2017.
In an interview with Bitcoin Magazine, Ray Youssef CEO and co-founder of Paxful says it has always been one of his dreams to build schools for underprivileged children.
You will see more of this, especially schools where theyre most needed like in Africa and in rural villages where people dont have access to education or clean water, he explains. We want to build 100 schools in Africa fully funded by cryptocurrency. This is just the beginning and weve only built two out of the 100.
The school is in the heart of the village where Rwandas infamous genocide began roughly 20 years ago. Youssef says that the area glows with an aura of healing and forgiveness and thus seemed like the natural place to begin rebuilding the country.
We believe that education is key to sustaining a community, but thats not the way you start, he comments. When you go to a place with absolutely no infrastructure, you must start with the very basics. There should be clean and potable drinking water. In both schools, we have installed water filters, so theres clean water plus a nursery school plus a primary school. Weve even installed solar panels. Its everything you need to build up a community. #BuiltWithBitcoin is our way of giving back to the communities that we serve in a way that is sustainable and brings a huge smile to our faces.
Youssef says that it took about three to four months to build the school and get it up and running.
The president and founder of Zam Zam Water, Yusuf Nessary, presented a plan for this second school, and it made sense, he states. Building a primary school next to our nursery gives the children access to continuous education.
Construction on the establishment originally began in July of 2018. The goal was to raise approximately $100,000 worth of crypto funds with Paxful matching every donation...
A Japanese exchange is about to resume Bitcoin Cash trading, adopting the BCHABC blockchain
The bitcoin price kicked off the week on a negative note after correcting 2 percent to the downside. The BTC/USD rate found itself unable to breach above the neckline level discussed in our previous analysis. The falling trendlines look stronger than ever in other patterns as well. The symmetrical triangle formation, for instance, on the Continued
The post Bitcoin Price Erases Weekend Gains to Confirm Bearish Long-Term Trend appeared first on CCN
Crypto Playing Cards is a new project launched in Switzerland by a cryptocurrency believer, a project that wants to help adoption by getting the general population acquainted with cryptocurrencies. You can use the cards to play Poker, Bridge, Blackjack or just about any card game with the Crypto Playing Cards, they just feature custom crypto art and are not a deck for a special crypto game or something like that. Instead of playing spades, hearts, diamonds or clubs, youre now playing with Bitcoin, Ethereum, Litecoin and NEO. Every suit has different dominant colors and each character was specifically designed to proudly represent its cryptocurrency. The playing cards are crafted from premium cardstock and coated with extra smooth finish.
A single deck of the Crypto Playing Cards is priced at 14.90 CHF (Swiss Franc) which roughly translates the same amount in USD plus a couple of Francs for the shipping. You can purchase multiple decks with a slight discount if you want to have some for gifts to friends for Christmas for instance. The supported methods of payment are via PayPal, with a Credit Card (Stripe), payment with Nano via BrainBlocks, you can of course also use Bitcoin (BTC) as well as any of the following altcoins: Stellar (XLM), Ripple (XRP), NEO, Ethereum (ETH), Litecoin (LTC) or GAS.
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.
Midex, an international company with HQs in Estonia and representatives in Asia, has announced the launch of the first EU regulated crypto-to-fiat exchange. With the trading performance of millions of operations per second, a wide range of deposit and withdrawal methods (wire transfers, payment cards, instant payments), support of the top trading pairs, and a robust security system, the platform is here to meet the needs of crypto beginners and professional traders.
The key pillars of the Midex exchange are legality and safety. Midex is the cryptocurrency exchange that has obtained a termless operating license with the number one (FVR000001), allowing it to provide services of exchanging virtual currencies to the fiat and vice versa.
Moreover, the platform has developed an advanced security system, according to which the main assets are stored in cold wallets, where the private keys are presented as multi-sig, hence, not a single person in the company is able to access e-wallet at any time. Keys have never been performed to the devices or connected to the web, and are stored in geographically distributed locations. The Midex alert system blocks any operations in case of violation of database integrity or an unauthorized change.
When it comes to the crypto-to-fiat exchange, the ability to easily deposit and withdraw funds are a sticking point for many platforms. Midex already launches with such payment options as bank transfer and cards (VISA, MasterCard, and JCB). In the beginning, most of the deposit methods are free of charge.
In our company, we are constantly operating within fast-growing markets, and the cryptocurrency industry is essentially one of them. Midex exchange supports both well-established currencies, such as BTC and ETH, as well as promising...
Following a weekend of choppy trading action, the cryptocurrency markets have established a fresh leg down, erasing most of their gains incurred through the recent relief rally that sent the markets up 10% or more from their recently established 2018 lows.
At the time of writing, Bitcoin is trading down 7% at its current price of $3,860, down over 12% from its recent highs of $4,400.
In late-November, Bitcoin set its 2018 low at approximately $3,600 on the aggregated markets, and since then this level has acted as support. Presently, Bitcoin is sitting just 7% over this support level, and its current downwards momentum may drive its price down to this region.
Todays drop has brought the overall cryptocurrency market capitalization down to $125 billion, which is just $10 billion above its 2018 low of just under $115 billion.
Despite the recent market conditions weakening the industrys sentiment and causing many investors to lose confidence in the markets, one industry insider is quick to remind investors that the current price action isnt unprecedented and has been seen before in cryptos brief history.
While speaking to MarketWatch, Danny Scott, the CEO and co-founder of CoinCorner, a cryptocurrency exchange, said that he has witnessed this exact price action before, and that it is always proceeded with a major parabolic rally.
If we look back over bitcoins short 10-year history, it has experienced many price fluctuationssomething that is to be expected given that the industry is still very young. There have been a number of sizeable price movements over the years which have typically gone unnoticed by anyone except those within the industry. For example, in 2013 we saw the price drop 49.88% in just 14 days, which is a bigger drop than the one we have experienced over these last two weeks, Scott said.
Related Reading: Crypto Market Update: Weekend Gains Wiped Out in $5 Billion Fall
The Thai Revenue Department is currently testing blockchain use for value-added tax (VAT) payment tracking
Maduro Triples Minimum Wage, Raises Price Of El Petro Late last week, Venezuelas President Nicolas Maduro ordered a hike in the value of the countrys state-sponsored cryptocurrency el petro. In an announcement on Thursday, President Nicolas Maduro ordered that the...
The post Maduro Triples Minimum Wage, Raises Price Of El Petro appeared first on The Daily Coin.
South Koreas Finance Ministry is considering crypto and ICO taxation in accordance with global trends, new minister Hong Nam-ki revealed
A pre-solicitation published by the U.S. Department of Homeland Security asks about conducting forensic analysis on privacy coins like zcash and monero.
Its time to get in at a great price and theres a low-risk, high-reward potential way to do it right now. For months, ever since I alerted that cryptocurrencies have peaked and that were looking for a 50%-80% smash to come (this was back in February), Ive been waiting for signs of a bottom.
There are plenty of facts to back up the case for an imminent crypto rebound. If you had gotten into cryptocurrencies when we started alerting on them, you would still be way, way up in your position even with the 2018 crypto correction factored into the equation.
Cryptocurrencies have a history of crashes and recoveries just like other asset classes, but on an accelerated timeline. Youre getting all of the ups and downs that youd expect to see in any investment class (stocks, real estate, commodities, etc.), except its moving at a faster pace.
Bitcoin is considered the mothership of cryptocurrencies. Looking back at the price action of BTC over the long-term, we can see that Bitcoin has staged numerous full recoveries from corrections at least 11 prior to the current one:
Courtesy: Pension Partners, Charlie Bilello
Without exception, BTC recovered all losses from past corrections and then reached new all-time highs, handsomely rewarding patient and level-headed investors. Even if the current decline were to exceed -80%, Bitcoin historians can cite multiple times where the price has staged a full recovery from a drop of that magnitude.
Other major cryptocurrencies, including Ethereum, have experienced corrections and recoveries largely in tandem with Bitcoin. Future Money Trends views price drops as reasons to buy, not sell, when the asset has a groundbreaking and game-changing technology a...
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