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Global crypto payment provider BitPay has announced the OneGold precious metals and digital gold marketplace is now accepting Bitcoin and Bitcoin Cash, according to a press release. OneGold founded by APMEX, a leading precious metals retailer, and Sprott, an alternative asset manager is focused on giving investors the ability to combine the key Continued
The post Bullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoin appeared first on CCN
The U.S. Commodity Futures Trading Commission has asked for public comment and feedback to improve its knowledge of the Ethereum blockchain and altcoin
Sharding and proof-of-stake will render future blockchains thousands of times more efficient, according to Ethereum co-founder Vitalik Buterin
The second-smallest state in the United States by population has formed a working group consisting of state agencies with a view toward studying blockchain technology. This was announced by Vermonts attorney general, T.J. Donovan, who disclosed that the blockchain working group would commence work next year in January. The working group which will seek Continued
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International childrens charity UNICEF has announced that it will formally support a total of six new blockchain startups through the UNICEF Innovation Fund. As part of the programme, the firms will each receive a share of $100,000 in funding.
Most of the blockchain startups selected for membership in the fund are from a different developing nation. The ideas incubated in them will hopefully go on to increase efficiency and transparency in a variety of industries across the globe in those countries that need it most.
The childrens charity division of the United Nations, UNICEF, clearly sees great promise for blockchain technology to overhaul whole industries, particularly those traditionally rife with fraud and corruption. Its Innovation Fund has already targeted firms specialising in other emerging technological sectors such as data scince, machine learning, virtual reality, and drone technology. The six startups from the blockchain industry will join another 20 fledgling companies from these disparate fields in receipt of funding.
The six companies named in a report by RTT News are: Argentinian enterprise-grade funding platform Atix Labs; Mexicos Onesmart, which hopes to reduce corruption in emerging markets; medical records management platform Prescrypto (also based in Mexico); the Indian vaccination supply chain system provider Statwig; Utopixar from Tunisia, which is exploring blockchains application in community governance; and the W3 Engineers in Bangladesh. This final startup seeks to provide connectivity between economic migrants and refugees without the use of either internet and cellular phone technology.
Along with funding, the startups in the UNICEF Innovation Fund will also receive assistance with developing the projects themselves, along with guidance on growing the businesses.
Over the last year or so, UNICEF has been keen to explore how blockchain technology and cryptocurrencies can benefit charitable causes. NewsBTC has previously reported on the childrens charitys effort to inspire video gamers to use their surplus hardware to mine digital assets to donate to charity....
Insurance is one of the golden geese of the blockchain, an industry with so much paperwork, sensitive data, and manual processes that it almost seems obvious that it will eventually adopt blockchain technology to streamline its claims processes, data storage, and even eventually its payments. State Farm is among the first notable insurance Continued
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Bitcoin has dropped below $3,400 soon after challenging $3,700, Ethereum dips below $90 for the first time since May 2017
U.K. lawmaker Eddie Hughes has proposed that taxpayers should have the option to pay council tax and utility bills in cryptocurrencies such as BTC. The 50 year-old conservative legislator for the Walsall North constituency said the move would place the country at the forefront of digital currency adoption in Europe.
Youre either ahead of the curve or youre behind the curve, and our country is in an interesting position right now we need to be seen as a progressive country, Hughes was quoted by the Daily Express as saying. We are at a crossroads and were about to determine our future one in which taking the lead in this field could prove very beneficial....
Last week, it was reported that a Bitcoin whale had moved thousands of bitcoin into different wallet addresses. Between December 1 to December 6, 2018, the whale split 856,000 bitcoin between 107 wallets, sending an equal 8,000 BTC into each wallet.
Speculators have formulated different hypotheses since the monstrous sum was moved. Was it a market whale moving funds to Over-the-Counter (OTC) markets? Could the sender be the Foundation for Economic Education (Fee.org)? (This second theory is highly improbable as the listed address on the organizations website reveals it has only ever received a total of 2.2 BTC.)
According to a report published on 8BTC, its likely the whale was merely Coinbase conducting routine maintenance on its infrastructure. 8BTCs hypothesis is based on a Coinbase announcement that mentioned the exchange was going to make "monitored movements" two days prior to the transactions being made.
U.S digital asset platform Coinbase had announced a scheduled maintenance on November 29, 2018.
"Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers."
The commotion surrounding these coin movements began on December 4, 2018, when 66,452 BTC was transferred from a wallet address that had not sent funds since 2014. The funds were then distributed evenly across 100 wallet addresses.
Once that transfer was complete, a new transaction of 66,379 BTC was transferred from another whale address and distributed equally between 101 wallet addresses. A few days after this, another transaction was initiated, followed by another round of distributing the bitcoin into different wallet addresses. This time, 8,000 BTC was transferred into 107 addresses for a total of 856,000 BTC: a total that ac...
The holiday season is here. And even if crypto prices are on the
coal heap, you can still have fun spreading some holiday bitcoin
For the bitcoiners in your life, this could mean a crypto-related gift as a token of solidarity. After all, what better way to commiserate with fellow HODLers than decking their holiday halls with bitcoin-themed gifts? What better way to say were in it for the long haul than with a hardware wallet? Or Ive got your back literally than with a bitcoin t-shirt?
From wallets to node-hosting hardware to general swag, heres a list of some of our favorite gifts for bitcoiners of all kinds from newbies to early adopters, moon shooters to techies, and everyone in between.
Of course, one of the best gifts you can give is bitcoin itself. Maybe take some time and walk a friend through the process of setting up a wallet and then send them their first satoshis.
If you want to wrap up a bitcoin gift, consider putting some funds on an Opendime stick. Opendime is a single-use, disposable bitcoin hardware wallet. This USB wallet functions sort of like a gift card that you can load with bitcoin using your existing wallet then you pass it on to someone else. The private keys are generated in the wallet itself and are never revealed to anyone, not even to the person who loads the wallet with funds. Using the public key, the recipient of the Opendime can still read how much is in the wallet by inserting the USB into a computer they just cant spend the funds until they break the seal and transfer the funds out of the wallet using the hidden private key. Once the seal is broken and the funds are removed, the wallet is rendered inoperable.
These wallets are available for purchase in packs of three. At $40 for a pack, its an inexpensive, secure and easy way to give someone bitcoin, be it a large or small amount.
A must-have for any enthusiast who has invested more than pocket change, hardware wallets are a prime item to give, even more so if the recipient is a newcomer.
There are a number of options to choose from, and which wallet works best depends on the individual. The Trezor and Ledger hardware wallets are perhaps the most vetted, most widely recognized and longest-standing options out there. They support bitcoin, most major altcoins an...
Bitcoin bull Mike Novogratz the CEO of cryptocurrency merchant bank Galaxy Digital is unfazed by the recent bear market, saying bitcoin is digital gold that will survive and thrive over the long haul. Novogratz admitted that he lost money during the 2018 slump due to bad market calls, but that doesnt dampen his long-term Continued
The post Revolutions Dont Happen Overnight: Why Mike Novogratz isnt Giving up on Bitcoin appeared first on CCN
Bitcoins current instability is shaking investors confidence in a potential relief rally, as the short positions against Bitcoin are climbing as long positions continue to drop. Bitcoin moved slightly lower on Tuesday morning, leading the majority of altcoins to also drop.
Currently, the overall cryptocurrency market is sitting at just over $107 billion, and one more major drop led by Bitcoin will likely bring it down to below the important psychological level of $100 billion, which has not been seen since July of 2017.
At the time of writing, Bitcoin is trading down 3% at its current price of $3,400, falling from daily highs of over $3,500. Bitcoin is currently trading down 15% from its 7-day highs of nearly $4,000, and the lack of investor confidence in either a relief rally, or an end-of-year rally, is clearly declining, as illustrated by the statistics regarding the amount of net-long and net-short positions.
According to data compiled by DailyFX, traders are continuing to shift their positions from net-long to net-short, signaling that they expect further drops to be on the way.
Retail trader data shows 70.1% of traders are net-long with the ratio of traders long to short at 2.35 to 1. The percentage of traders net-long is now its lowest since Nov. 28 when bitcoin traded near $4,200.66. The number of traders net-long is 1.6% lower than yesterday and 2.7% lower from last week, while the number of traders net-short is 14.0% higher than yesterday and 21.4% higher from last week.
It is important to note that net-short to net-long ratios simply give the markets insight into the sentiment amongst traders and is not a reliable method for determining the future direction a specific asset or market is heading.
Bitcoins current instability has continued to be a nega...
Fragments protocol, an effort at stabilizing the buying power of cryptocurrency, has rebranded itself to Ampleforth as of today, renaming the crypto project after the 1984 character whose job is to translate poetry into Newspeak. Ampleforth aims to preserve the unit of account and money properties of its tokens. Instead of pegging to a fixed Continued
The post Crypto Firm Fragments Launches Stablecoin Following Ampleforth Rebrand appeared first on CCN
Bitcoins share of total cryptocurrency market capitalisation is at its highest point in three months, currently standing at about 55.14 percent according to data from CoinMarketCap. Bitcoin Dominance Surges amid Crypto Price Panic The next four high volume cryptocurrencies in order of market volume are XRP with 11.14 percent, ethereum with 8.55 percent, bitcoin cash Continued
The post Still the King: Bitcoin Dominance Hits 3-Month High as Crypto Market Limps Toward 2019 appeared first on CCN
The birth of more stablecoins, which has coincided with significant market losses for traditional cryptocurrencies, has drawn attention to these fiat-pegged digital assets. Dedicated platforms are now aggregating statistical data about stablecoin markets for the benefit of traders.
The last couple of months has seen the arrival of new coins poised to challenge the dominance of the leading stablecoin tether (USDT). Two new regulated cryptocurrencies, also pegged to the U.S. dollar, were announced after receiving approval from the New York State Department of Financial Services in September. The Gemini dollar (GUSD) and paxos standard (PAX) are both backed one-to-one with fiat currency.
Another notable token in the same category is USD coin (USDC), but coins pegged to different fiat currencies or other traditional assets, such as precious metals, have also been announced. Exchanges and other trading platforms have already listed many of these stablecoins, granting them recognition in a bearish market for the majority of the free-floating cryptocurrencies. A crypto loans service has recently begun...
Coinbase's chief product officer, Jeremy Henrickson, left the crypto exchange in early November after more than two years of scaling the company's tech team.
This is a paid sponsorship by: - Noble Gold - Better grab some rolls of these beautiful Morgan Silver Dollars before they are gone. Go to: https://HistoricSilverCoins.com and enter promo code Bill Still to save $5 per coin. Good evening, Im still reporting on: Huge Court Win for Project Veritas, 2471 Synopsis: A huge court victory for Project Veritas. A federal appeals court in Massachusetts has ruled that it is not illegal for Americans to secretly record their public officials, including police while they are performing their duties as government employees. According to U.S. District Chief Judge Patti B. Staris a Massachusetts law banning so-called one-person recordings where only the person doing the recording knows the recording is being made violates First Amendment rights of news-gathering organizations when it comes to government employees performing their government duties. According to this evenings Washington Times, Judge Staris: ruled in favor of two sets of plaintiffs, one of which regularly livestreamed video of police officers performing their duties, and the other James OKeefe, whose Project Veritas specializes in catching public polcy figures saying embarrassing things. OKeefe called the ruling groundbreaking. The impact of this win will ripple throughout the nation. It will set historical precedent and keep citizen journalism alive in all fifty states. SUPPORT OUR SPONSORS: -- Virtual Shield VPN - the easiest way to create a home VPN. It takes me 4-5 seconds each morning to get my Virtual Shield up. Go to: https://www.virtualshield.com/billstill - Trade Genius Academy. It pays for itself. See their Black Friday Specials at: https://www.TradeGeniusAcademy.com - Patriot Flashlight, http://www.patriotflashlight.com/ Apply Coupon: Still20 for an additional 20% discount - Cheap Cable TV - Call 1-888-742-8847. Click now: https://CheapCableTV.com - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: https://BillStill.com/StemCell The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com -Jeevy Computers: Move up to business-level computer protection.800-844-8613 http://jeevycomputers.com/pcs/ Still Report BTC address: 18Ky2c3CgPY3eu5N7ySoM3X6NjgEAN2w4v Connect with me; Bill Still: newspaper editor/publisher, economics reporter - top US publications, authored 22 books, 4 documentary videos & daily host of this Y/T channel, THE STILL REPORT: https://plus.google.com/u/0/109353617116072656672 Get the word Out: Please LIKE, COMMENT & SHARE! Our website: http://www.billstill.com Considered by informed insiders as the ultimate resource for surviving economic or financial collapse/crash and attaining the unvarnished truth about the latest US and world news, current...
A common narrative in todays financial world is that crypto holders are often unable to execute trades without paying large amounts of commissions and fees. Traditional markets are loaded with retail brokerages that bet against their clients with artificially adjusted prices, spreads and unrealistic fees.
Enter Quantfury, an emerging enterprise thats on an ambitious quest to reshape this landscape for everyday cryptocurrency holders and others who enjoy trading the markets. Founded in April 2017 with offices in Toronto and Singapore, Quantfury offers a state-of-the-art trading app for both iOS and Android that allows traders to utilize their cryptocurrency holdings to trade equities, cryptocurrencies, fiat pairs and commodities, in fiat amounts.
Tyler and Cameron Winklevoss have launched mobile crypto trading app for their Gemini exchange, together with a new crypto basket investment vehicle
The latest statistics on initial coin offerings suggest that the best days of the fundraising mechanism may have long passed. According to digital assets newsletter Diar, the month of November recorded the lowest inflows into initial coin offerings (ICOs) in 2018. With US$65 million raised last month, this was in sharp contrast to this years Continued
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After watching the price of Bitcoin going through its roughest month for seven whole years, many in the space appear to be bracing themselves for a more brutal crypto winter than they ever thought possible. One market analyst believes that we could be about to drop further to a new yearly low of $3,000.
That said, there has been very little in the way of negative news surrounding the number one digital asset. In fact, Bitcoins surrounding infrastructure has never looked better. Despite the lulls, such factors continue to inspire bullishness from familiar voices.
Just like last year, the expectations of many have been defied in the closing months of 2018. Bitcoin has continued on its downwards trajectory to its current price of around $3,400. Many felt the end of the market bloodshed was here after the price spent so long in the $6,000 to $6,800 range. The following sharp decline over the last month has taken a lot of folks by surprise. However, some analysts believe we are far from the end of the current bear market.
#Bitcoin looking quite ugly here. If the uptrend support doesn't hold I would aim to $3,250 and $3,000 as next targets.
Bear flag already breaking down.
Crypto Rand (@crypto_rand) December 11, 2018
The view of Crypto Rand above is echoed by controversial YouTube technical analyst Tone Vays. In his latest episode, Tone argues that Bitcoin must first hit the 50 month moving average at around $3,000 before it will change direction and can begin to move up again:
The most optimal scenario is actually a few more candles of consolida...
Gibraltar Blockchain Exchange has insured all of its crypto assets with local firm Callaghan Insurance Brokers
The Winklevoss twins-owned Gemini crypto exchange is using the current bear market to build, and has launched its official mobile app for iOS and Android smartphones.
While a battle rages between Coinbase and Jack Dorseys Square Cash app for the top spot on the Apple App Store for iOS, a new contender has thrown their name in the ring. Gemini, the cryptocurrency trading platform led by Cameron and Tyler Winklevoss, has launched an official mobile app for iOS and Android devices.
The new app offers many of the same experiences found when accessing Gemini from a web browser, including the ability to buy, sell, send, and receive cryptocurrencies like Bitcoin and Litecoin, a portfolio to track gains and losses, the firms Buy the Cryptoverse bundle feature, and much more.
The app is now available for download on the Google Play Store for Android and Apple App Store for iPhone and iPad.
Related Reading | Square Cash Tops Apple App Store: Can Coinbase Reclaim Its Throne?
In an interview with Bloomberg, Gemini co-founders Cameron and Tyler Winklevoss explained their motivation for rolling out a mobile app now, while in the midst of a crypto winter, as many are calling the current bear market. Other companies such as rival exchange Coinbase, and even the $15 million-valued mining giant Bitmain have been struggling to maintain business operations in key areas.
Were totally at home in winter, said Tyler Winklevoss. It gives us time to build internally, and refine and kind of catch our breath, added his brother Cameron....
Delphi Digital has taken a deep dive into bitcoin core in its first The State of Bitcoin report. The 59-page document from the digital asset investment company leaves no stone unturned, covering everything from BTC payments to coin distribution and rolling returns compared to stocks and gold. The report brings together a plethora of interesting statistics that attest to bitcoins growing evolution and adoption.
Few people, save for a handful of terminal haters and discredited economists, dispute that Bitcoin is valuable. But quite where that value lies, and what the primary purpose of Satoshis creation should be, is a matter of some dispute. In its current state, BTC is easier to dismiss than understand, acknowledge the authors of The State of Bitcoin. We believe the primary long-term value drivers for BTC revolve around its ability to serve as 1) a censorship-resistant store of value and 2) a check on governments as an alternative, country-agnostic digital reserve currency.
According to data obtained from the source the New York Department of Financial Services itself the financial regulator has only responded to 9 of 36 BitLicense applications submitted since 2015. Five have been denied, four have been approved, the rest are still going through the process. Fortune writer Robert Hackett became interested in Continued
Chat logs obtained from a ConsenSys town hall last week reveal a mix of shock and support following the company's announced layoffs.
Wanchain is a separate, independent, public chain, CEO Jack Lu says on a recent December morning. He explains that it is essentially a fork of Ethereum which integrated a lot of privacy-focused changes and primarily focuses on cross-chain compatibility. Wanchain wants to be the bridge between blockchains, allowing multi-crypto transaction execution in a private manner. Continued
The post This Privacy-Focused Interoperable Blockchain Bridges Ethereum and Bitcoin appeared first on CCN
South Korean crypto exchange Coinone has launched Cross, an app providing cross-border remittances using Ripple's xCurrent product.
Good evening, Im still reporting on: Julian Assange Rejects Offer to Leave Embassy, 2470 Synopsis: Today in London, Julian Assange rejected a deal that would allow him to leave the Ecuadorian embassy in for the first time in six years because he still fears extradition to the United States. At issue seems to be Assanges fear that the U.S. Justice Department has filed a secret arrest warrant for him as was inadvertently revealed last month in a court filing in Federal Court in Alexandria, Virginia. Assange has been under investigation since 2010 for publishing thousands of classified reports on the war in Afghanistan. SUPPORT OUR SPONSORS: - Noble Gold - Better grab some rolls of these beautiful Morgan Silver Dollars before they are gone. Go to: https://HistoricSilverCoins.com and enter promo code Bill Still to save $5 per coin. -- Virtual Shield VPN - the easiest way to create a home VPN. It takes me 4-5 seconds each morning to get my Virtual Shield up. Go to: https://www.virtualshield.com/billstill - Trade Genius Academy. It pays for itself. See their Black Friday Specials at: https://www.TradeGeniusAcademy.com - Patriot Flashlight, http://www.patriotflashlight.com/ Apply Coupon: Still20 for an additional 20% discount - Cheap Cable TV - Call 1-888-742-8847. Click now: https://CheapCableTV.com - Ray Mikelonis, an independent representative of plant-based products which have been scientifically proven to naturally increase the number of adult stem cells in your body. CLICK HERE: https://BillStill.com/StemCell The Crypto Advisors, buy, sell, invest, safeguard cryptocurrencies such as Bitcoin. Call 888-844-7806, or visit online at: www.TheCryptoAdvisors.com -Jeevy Computers: Move up to business-level computer protection.800-844-8613 http://jeevycomputers.com/pcs/ Still Report BTC address: 18Ky2c3CgPY3eu5N7ySoM3X6NjgEAN2w4v Connect with me; Bill Still: newspaper editor/publisher, economics reporter - top US publications, authored 22 books, 4 documentary videos & daily host of this Y/T channel, THE STILL REPORT: https://plus.google.com/u/0/109353617116072656672 Get the word Out: Please LIKE, COMMENT & SHARE! Our website: http://www.billstill.com Considered by informed insiders as the ultimate resource for surviving economic or financial collapse/crash and attaining the unvarnished truth about the latest US and world news, current events in Washington, and todays United States political climate. Please Like, Comment & Share. Bill Still is a former newspaper editor and publisher. He has written for USA Today, The Saturday Evening Post, the Los Angeles Times Syndicate, OMNI magazine, and has also produced the syndicated radio program, Health News. He has written 22 books and two documentary videos and is the host of his wildly popular daily YouTube Channel the Still Report, the quintessential report on the economy and Washington. Connect with Bill Still: https://www.youtube.com/user/bstill3 https://plus.g...
Samsung has dismissed reports it plans to offer a crypto cold wallet on its Galaxy S10 smartphone as rumor and speculation.
Increasing prevalence of cryptocurrency PoS payments forms focus of new role for ex-PayPal exec
The market valuation of ERC20 tokens and low volume crypto have started to fall below the $100 million mark amidst an intense market sell-off and increasing regulatory pressure from the U.S. Securities and Exchange Commission (SEC). VeChain, Bytecoin, Bitcoin Diamond, ICON, and Qtum have fallen the most against the U.S. dollar in the past 12 Continued
The post Market Cap of Crypto Tokens Fall Under $100M, Struggling to be Relevant appeared first on CCN
Hope, euphoria or panic? What the Wall Street Cheat Sheet can tell us about the current state of the bitcoin market.
Good Money, a digital banking startup, has announced its raised $30 million in Series A funding. The round was led by Galaxy Digital with investments from Breyer Capital, Blocktower Capital, Boost VC, Ken Howery, Blockchange Ventures, Cross Culture Ventures, Troy Carter, Mitch Kapor, Peter Diamandis, Blake Mycoskie, Justin Rosenstein and others.
Besides peer-to-peer banking services, Good Money will offer FDIC-insured savings accounts bearing a 2 percent yield, free usage of fiat ATMs across the U.S., no-overdraft fees and low consumer loan rates. However, it seems that the people behind the venture believe a strong social focus is what will attract the most interest in the app. Th...
Amid the cryptocurrency market crash, even the newest ASIC crypto mining rigs are struggling to seal profits for their operators
Although Coinbase is lauded for its ability to innovate, even in stormy market conditions, there has been growing sentiment that the prominent platform has begun to stumble, falling victim to the dissipation of cryptos active retail investor scene. Yet, Coinbase has made in glaringly apparent that it intends to thrive amid Bitcoins (BTC) distraught state.
Although the crypto market has sustained heavy losses in fiscal 2018, the spirit of festivity has still blessed Coinbase with its presence. Case in point, the San Francisco-headquartered startup, known for its unrelenting innovation in the cryptosphere, recently embarked on its latest, unexpected venture 12 Days Of Coinbase, an evident reference to the age-old Christmas song.
Through an announcement issued on Monday afternoon, Verity Coltman, Coinbases head of Business Operations, divulged that the multinational firm has spent 2018 focused on behind-the-scenes utility work, but hasnt had much to publicly show for its efforts. Over the next 12 days, however, Coltman noted that Coinbase plans to launch a feature, whether it be support for altcoins, website updates, newfangled features, or otherwise, every single day.
So, with Coltmans statement in mind, it is apparent that Coinbases lack of visible progress is slated to change, with the advent of an unprecedented initiative that may turn the platform on its head.
For the first day of its campaign, Coinbase has unveiled a partnership with WeGift, a digital gift card infrastructure provider. This strategic business relationship will allow Coinbases clients in the U.S., U.K., and E.U. to purchase an array of gift cards, including ones from Uber, Adidas, and Nike, by using Coinbase-supported cryptocurrencies, namely BTC and Ethereum (ETH). Remarking on how the WeGift collaboration will bolster cryptos adoption, Coltman wrote:
Customers purchasing e-gift cards enjoy no withdrawal fees and bonuses of up to 10% on select vendors, making it smoother than ever to use crypto.
While Coinbase intends to reach for the stars with this two-week...
For much of the year, the bitcoin mining industry appeared to be impervious to the crypto market downturn, as the flagship cryptocurrencys hash rate continued to climb even as the BTC price halved and then halved again. In recent weeks, however, cracks have begun to form in this sector as well. Bitcoin Hash Rate Continued
The post Bitcoin Mining Industry Under Considerable Stress, 1.3 Million Devices Switched Off appeared first on CCN
Amid the peak of cryptos 2017 rally, Travis Kling, a portfolio manager at Steven A. Cohens Point72 Asset Management, jumped ship from his institutional tenure, subsequently downing the red pill that is Bitcoin. And while Bitcoin (BTC) has sold-off massively since his initial foray, Kling has maintained that he sees long-term potential in cryptocurrency and technologies pertaining to this budding asset class.
In recent months, TD Ameritrade has begun to make an entree into the cryptocurrency market, first partnering with ErisX, a crypto platform slated to be a competitor of Bakkt. Now, the world-renowned financial institutions newfound penchant for this industry has spread to its in-house media network, which recently hosted a segment dubbed #CryptoWhatsNext in collaboration with the now-crypto-friendly Nasdaq.
On Monday afternoon, Oliver Renick, an anchor at the fledgling outlet, spoke with Kling, who now heads the recently-launched crypto hedge fund Ikigai.
Thanks for having me! https://t.co/9jSTRASagT
Travis Kling (@Travis_Kling) December 10, 2018
Aiming to glean some insight from the industry insider, the TD Ameritrade host asked Kling about the logistics of Ikigai, which launched in October, prior to Bitcoins recent leg lower. The former Point72 team member drew attention to its two chief investment strategies, the acquisition of equity or tokens pertaining to a venture-stage crypto-centric project, and a long-short multi-strat[egy].
The host, intrigued by the latter strategy, questioned how Kling...
British politician Eddie Hughes has proposed allowing local taxes and bills to be paid with cryptocurrencies.
In Tuesdays edition of The Daily we cover stories about
an electronic gift card program that Coinbase is extending to the
U.S. market, new job offerings from Facebook that hint at the
companys blockchain plans, and an investment in the field from
Coinbase has announced that its trading platform now offers e-gift cards for its customers in the U.S. This means that American users will be able to instantly spend their cryptocurrency balances from the exchange with dozens of new retailers. The development has been achieved by expanding its partnership with the London-based startup...
Former chief economist of the IMF and Harvard University professor Kenneth Rogoff has characterized Bitcoin as a lottery ticket
According to cryptocurrency intelligence firm CipherTraces Q3 Cryptocurrency Anti-Money Laundering report, as of quarter-three, 2018, cryptocurrency thefts had already reached $927 million. The blockchain cybersecurity professionals identified theft and hacks at platform layers and exchanges to be a major problem, evolving further from its Q2 findings. In the CipherTrace second-quarter report, the company identified that Continued
The post $1 Billion Dollars Worth of Cryptocurrency Stolen in 2018 appeared first on CCN
The Gibraltar Blockchain Exchange, a subsidiary of the Gibraltar Stock Exchange, is now offering insurance cover for crypto assets.
As we previously reported, Circles Poloniex participation in the stablecoin wars is evident in their decision to not charge fees on use of USDC on their platform. For the month of November, trades in USDC were not charged any fees at all. According to an e-mail blast from Poloniex, this amounted to more than $500,000 Continued
The post Stablecoin Wars: Poloniex Extends Fee-Free USDC Trading appeared first on CCN
U.S. disruptor bank Good Money gets $30 million in Series A funding from a cryptocurrency-focused VC
A key long-term bitcoin price indicator is reporting oversold conditions for the first time in almost four years.
A Japanese lawmaker has proposed four changes to Japans tax law to benefit crypto users and traders as well as widen the adoption of cryptocurrency in the country. The current tax rate of 55 percent could be lowered to 20 percent while crypto-to-crypto trading and small payments could be exempt from taxation.
Representative Takeshi Fujimaki of Japans Nippon Ishin no Kai political party has proposed four changes to the current taxation system for cryptocurrencies. Fujimaki, who was formerly an adviser to billionaire investor George Soros, announced on Friday:
We believe that it is necessary to change the current virtual currency taxation system to an appropriate tax system in order to develop virtual currency / blockchain technology. The tax system should not deprive the future of virtual currency and blockchain.
The proposed changes are designed to promote the wider adoption of virtual currency as well as encourage the development of blockchain technology, he clarified....
At the first official meeting between five of the biggest crypto exchanges and the government of South Korea, Cumberland Korea CEO Hong Joon-ki said that both the government and local financial institutions have to acknowledge the efforts of Nasdaq, Fidelity, and some of the largest conglomerates in the global market working to strengthen the infrastructure Continued
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With crypto markets falling ever lower many are making an exit from the space. Not all are that quick to jump ship however, and PayPal is among those looking towards cryptocurrencies, albeit private ones, starting with an incentive platform for its employees.
The company has launched an internal private blockchain based platform for its staff to trade and exchange tokens while contributing ideas and participating in related programs designed to foster innovation. According to Cheddar the initiative has been built by around 25 people taking six months.
PayPal has setup an internal website for employees to access their private tokens and earn more by enrolling in learning programs. The tokens are not tradable outside of the system as they are worthless to all but company workers on its own blockchain.
Historically, PayPal has been anti-crypto and has not accepted it on its merchant platform due to volatility issues. These price fluctuations would be massively amplified considering the excessive length of time PayPal transactions take. This latest venture is only an effort to get staff used to the concept PayPal still has no intention of adopting or using public cryptocurrencies.
The company has offered experiences such as poker tournaments, martial arts and trail runs with head executives for employees that want to cash in their tokens. One senior executive described it as a Venmo-like feed people can like and comment on and see all the activity going on within PayPal related to innovation.
It is very unlikely that PayPal will be venturing into the real world of cryptocurrencies any time soon. The company made $13 billion in 2017, and a large chunk of that is derived from hugely over inflated foreign exchange rates. Sending money between PayPal accounts in different currencies can cost as much as 5%. Borderless cryptos are obviously a threat to this business model.
PayPal is interested in the technology however and this latest incentive is another step towards it. The most likely outcome would be the development of a PayPal token that is only redeemable on the platform to facilitate transactions.
Coinbase recently announced that it...
In October, the government of Japan hinted its plans to ease the process of taxing crypto investments to refrain impractical taxation frameworks from negatively affecting the local market. At the time, a committee of tax experts that is tasked to advise the government on taxation matters encouraged the authorities to simplify the complex process of Continued
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Crypto exchanges in the U.K. pose a low risk for money laundering and terrorist financing, says a report from the Financial Action Task Force.
As cryptocurrency prices continue to tumble, some blockchain projects may disappear into the digital dust while others forge on with product development that will lead to ease of use and greater adoption.
Standardization of payment platforms and cross compatibility between them is one issue that needs to be addressed before cryptocurrencies get anywhere near mainstream adoption. The 0x protocol aims to do exactly that and has taken a step towards that objective with the announcement of the 0x Instant payments service.
Using the service with a few lines of code can enable crypto purchasing to be added seamlessly to any app or website according to the announcement medium post. The open source code also allows hosts to earn a little commission on every transaction if they configure it to do so.
Under the hood, Instant aggregates liquidity from 0x relayers for any ERC-20 or ERC-721 asset. It automatically finds the best prices within the 0x networked liquidity pool and lets users pay for tokens with ETH via MetaMask, Ledger, Trezor, or any other Ethereum wallet, the post added.
An off-the-shelf UI and Instant Configurator can be embedded into games or dApps to enable instant crypto payments. The blog adds that developers and creators can utilize Instant to build product experiences that couldnt have existed before. Non-fungible token marketplaces, non-custodial crypto wallets, dApps, and crypto price feeds are already utilizing the service according to the release.
Coinbase Wallet has already integrated 0x Instant into its mobile wallet app for seamless transfer of Ethereum based tokens. Others crypto operations such as CoinGecko, Augur and Emoon are also already utilizing the system.
By eliminating third party exchanges as intermediaries, the platform allows dApp to dApp or wallet to wallet transfers and conversions minus the exchange commissions. Instant has also been designed to allow crypto-based price feed websites to monetize traffic by adding their own fees on transactions within the site.
Despite the market slump, the head of village council in Ukraine has managed to earn profit from a cryptocurrency investment he made on behalf of the residents of the Elizavetovka, Dnipropetrovsk region. Earlier this year, Maxim Golosnoy bought a small amount of cryptocurrency using his own savings and has recently distributed dividends to the villagers.
Squares Cash App has achieved a key milestone on the road to mainstreaming bitcoin usage by becoming the most popular app in the finance category on the U.S. Google Play Store ahead of PayPal. The app, which has spent much of the past year gaining tremendous amounts of ground within the millennial market segment is Continued
The post Bitcoin-Friendly Cash App Tops PayPal in Google Play Store appeared first on CCN
Crypto markets are turning south again as minor gains get wiped out. Total market capitalization dropped below $110 billion during the mornings Asian trading session as red dominates the charts at the moment.
Dropping a further 2.5% on the day Bitcoin is heading towards the next predicted support level around $3,000. This will be absolutely crucial and a fall below it will spell a lot of pain. At the time of writing BTC had fallen to $3,490 in a steady downward slide that has lasted almost two days.
Ethereum is back at $90 and looking weaker by the moment as it too dumps almost 2% since the same time yesterday. ETH is back at May 2017 prices but heading down instead of up; further declines could see it get to $50 very quickly.
Altcoins are all dumping again and the only winner in the top ten is Tether which has climbed the chart to fifth spot as market caps crumble. Bitcoin SV is dumping the most at the moment with a 7% slide back towards $90. EOS has also fallen over 5% as it jostles for position with BCH which has sunk back towards $100.
The top twenty five is equally as bleak with over 6% losses for Monero and Tezos. Iota and Ethereum Classic are the only altcoins not falling at the moment as they remain in the green, but only just.
Only one big fomo pump is occurring at the moment, the top performing coin in the top one hundred at the time of writing is WAX surging 30%. Bitcoin Private is not doing too badly with a gain of nearly 9%. There are quite a few at the painful end of the table dropping double figures right now and they include MOAC, Decentraland, Factom, and Decred.
Total crypto market capitalization has declined a further 3% on the day and is currently just above $110 billion. Since last Tuesday mar...
Australian truck and transport insurance company National Transport Insurance (NTI) has revealed that it is partnering with BeefLedger, an Australian blockchain platform on a pilot program that will deploy blockchain technology for end-to-end tracking of Australian beef exports. Aimed at improving food safety, export security and animal welfare in Australia, the program will use a
The post Australian Insurer Announces Blockchain Trial For Beef Export Supply Chain appeared first on CCN
Keeping abreast of cryptocurrencies means frequently browsing and interpreting vast amounts of content from various online sources. As the crypto markets expands and matures, information overload becomes a problem. Astute traders are increasingly seeking crypto-specific tools that can distill the noisy input data into quality insights. Predicoin is one such potential solution.
Bitcoin price is struggling to climb above the $3,500-3,520 area against the US Dollar. BTC might decline towards the $3,340 support in the short term before higher.
There was a slow and steady decline in bitcoin price from the $3,638 high against the US Dollar. The BTC/USD pair was rejected near $3,640-50 zone after it recovered from the $3,253 low. Moreover, it failed near the 61.8% Fib retracement level of the last slide from the $3,851 high to $3,208 low. The price recently declined below $3,520 and $3,480 to enter a short term bearish zone.
During the decline, sellers pushed the price below $3,400 and the 100 hourly simple moving average. Besides, the price broke the 61.8% Fib retracement level of the recent wave from the $3253 low to $3,638 high. However, the $3,340-50 support zone is acting as a decent support. On the upside, an initial resistance is near the $3,445 level, above which the key hurdle is near $3,520. More importantly, yesterdays highlighted crucial bearish trend line is intact with resistance at $3,520 on the hourly chart of the BTC/USD pair. Therefore, the price is likely to struggle near the $3,500 and $3,520 resistance levels.
Looking at the chart, bitcoin price may perhaps rise to test the $3,520 resistance before lower. On the downside, if the price finds a strong buying interest near $3,340, there could be a fresh upward move above $3,500-20.
A cryptocurrency airdrop fundraiser has been launched to help Venezuelans. People are donating funds via a number of different coins to the citizens of the crisis-stricken South American nation many of whom are refugees.
Launched by Airtm, a digital wallet connected to banks and blockchains, the fundraiser plans to send $1 million in digital currency to 100,000 ID-authenticated Venezuelans. Donations can be made in bitcoin, bitcoin cash, zcash, dash, ethereum, litecoin, ripple, and others. They can be quickly used or converted to dollars by Venezuelans.
So far, Airdrop Venezuela has proven to be popular. Launched on Nov. 27, close to $50,000 has been raised at the time of this writing. Ten dollars wort...
Bitcoin SV is struggling to recover above the $100 handle. Monero (XMR), Tron (TRX) and Cardano (ADA) are down and they could continue to decline in the short term.
After a push above the $100 handle, bitcoin SV failed to hold gains and declined below the $98 and $95 support levels. The price is down around 7% and it seems like it may test the $90 support level. If there are more losses, the price may even test the $88 level.
On the upside, key hurdles are near the $98 and $100 levels. As long as the price is below $100, bitcoin SV is likely to extend losses in the coming sessions.
Monero price declined heavily recently after it broke the $50 support level. XMR is down around 6% and it may continue to slide towards the $42 or $40 support levels. On the upside, the main resistance is at $50, above which the price could climb higher.
Tron price is currently flat near the $0.0135 level. On the downside, an initial support is at $0.0130, followed by the key $0.0120 level. On the upside, TRX buyers need to clear the $0.0150 resistance for a decent recovery.
Cardano price is still holding the $0.0300 support level. If ADA sellers gain pace below $0.0300, there are chances of heavy losses towards the $0.0285 and $0.0280 support levels. Resistances are at $0.0315 and $0.0320.
Over the past 24 hours, the prices of both Bitcoin (BTC) and Ethereum (ETH) have fallen by more than three percent against the U.S. dollar. The cryptocurrency market experienced an abrupt $4 billion drop in its valuation, by just about 3.5 percent. While major cryptocurrencies struggled to demonstrate signs of a potential corrective rally, small
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Ripple price is failed to gain bullish momentum against the US Dollar and Bitcoin. XRP/USD declined below $0.3000 and it may drop further below $0.2870.
Recently, ripple price corrected above the $0.3040 and $0.3120 resistances against the US Dollar. The XRP/USD pair traded close to the $0.3180 resistance, which acted as a barrier for buyers. A short term top was formed at $0.3177 and later the price started a downside move. It declined heavily and moved below the $0.3040 and $0.3000 support levels. Sellers even pushed the price below the 76.4% Fib retracement level of the last wave from the $0.2904 low to $0.3177 high.
There was a close below $0.3000 and the 100 hourly simple moving average. The price traded close to the $0.2900 swing low. It is currently consolidating losses, with an initial resistance at $0.3000. Moreover, yesterdays highlighted key bearish trend line is intact with resistance at $0.3000 on the hourly chart of the XRP/USD pair. Therefore, if the price corrects higher, it is likely to face sellers near $0.3000 and the 100 hourly SMA. Should there be an upside break above $0.3000, the price may correct towards $0.3040.
Looking at the chart, ripple price may extend losses below $0.2870. Sellers could push the price towards the $0.2740 level. It represents the 1.618 Fib extension level of the last wave from the $0.2904 low to $0.3177 high.
1.00 AUD = 0.00021 BTC
0.00100 BTC = 4.80 AUD
Kenyan health services provider Health Land Spa has started taking BTC and other cryptocurrencies as a means of payment with a view to increasing accountability and averting losses. Across East Africa, cryptocurrency acceptance is on the rise, with at least two restaurants in Uganda and Kenya selling food for virtual currencies.
Tony Mwongera, founder of Nairobi-based Health Land Spa, told Kenyan news site Bitcoinke that he resorted to BTC to plug revenue loss. There was so much theft in my business. So I decided, why dont I use a technology which is safe and secure, and I decided to accept bitcoin [core] as a mode of payment....
Ethereum price failed to recover against the US Dollar and bitcoin. ETH/USD is likely to decline once again if there is an hourly close below $88 and $85.
After failing to clear the $98 resistance, ETH price started a fresh decline against the US Dollar. The ETH/USD pair traded lower and broke the $95 and $92 support levels. It opened the doors for more losses and the price settled below $90 and the 100 hourly simple moving average. At the moment, the price is trading near a major support area at $88, below which there could be a solid drop to $80.
More importantly, yesterdays highlighted key contracting triangle is intact with current support at $88 on the hourly chart of ETH/USD. On the upside, an initial resistance is near the $93 level. It represents the 50% Fib retracement level of the last decline from the $98 high to $88 swing low. Besides, the 100 hourly SMA is also near the $92-93 area. The triangle resistance is near the $94 level, which is a crucial hurdle for buyers. The 61.8% Fib retracement level of the last decline from the $98 high to $88 swing low is also near $94.
Looking at the chart, ETH price seems to be facing many hurdles near the $93 and $94 levels. Above $94, the main resistance is near the $98-100 zone. Therefore, the price could extend losses if buyers fail to gain pace above $94 and then $98.
Hourly MACD The MACD is currentl...
Local media has reported that the Peoples Bank of China (PBOC) has banned security token offerings (STOs). Pan Gongsheng, a deputy governor of the PBOC, has mobilized the same rhetoric used with regard to initial coin offerings (ICOs) in describing STOs, accusing security token offerings of comprising illegal financial activity.
Gongsheng recently told state-owned media channel China Central Television that STOs are s...
Trading of Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) all ERC-20 tokens that run on the Ethereum network today went live on Coinbase Pro, and most received a bump from their listing on the crypto exchange. CVC, LOOM, MANA, and DNT Listed on Coinbase In a post earlier today, Coinbase
The post Coinbase Bounce: 3 of 4 Ethereum Tokens Rally against Bitcoin on Day of Listing appeared first on CCN
Carol Goforth is a professor at the University of Arkansas School of Law. She recently published a paper about the consequences of having cryptocurrency regulations fall under a number of conflicting laws, defined by various U.S. authorities, all at the same time.
Crypto assets are currently regulated in the U.S. as property by the Internal Revenue Service (IRS), as money by the Department of Treasurys Financial Crimes Enforcement Network (Fincen), as commodities by the Commodity Futures Trading Commission (CFTC), and as sec...
David Johnstons new Yeomans Growth Capital will invest exclusively in live blockchain projects.
Tether (USDT) has recently found itself among the top five cryptocurrency assets by market cap despite its own declining capitalization due in part to the dramatic demise of other top currencies such as Bitcoin Cash and EOS. Thats particularly notable since Tether has shed around $700 million in assets since September which
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Former IMF Chief Economist and current Harvard University Professor of Economics and Public Policy Kenneth Rogoff believes that bitcoin and other cryptocurrencies currently amount to little more than lottery tickets at this moment in time. Writing in the Guardian on Monday, Rogoff stated that while some believe that cryptocurrencies have had their day and are
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HTCs first native blockchain phone will use Brave as its default internet browser
Months after publishing a blockchain call to startups that could benefit humanity, the United Nations International Childrens Emergency Fund (UNICEF) has invested in six blockchain startups. In January 2018, UNICEF called for early-stage technology startups that were registered in one of UNICEFs programme countries. It received over 100 applications from 50 different countries. The organization
The post UNICEF Chooses Six Blockchain Startups for Humanitarian Investment Venture appeared first on CCN
Seven South Korean crypto exchanges set up a debate in the countrys National Assembly to discuss crypto regulation
A member of the British Parliament wants UK residents to be able to pay their local taxes and utility bills using bitcoin. Eddie Hughes, a conservative MP (member of Parliament) for the Walsall North constituency, said this would be a great first step toward mainstream adoption of crypto. Hughes said its time for other members
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A recent analysis by Diar has found that stablecoin adoption is increasing based on on-chain transactions
U.S.-based insurance giant State Farm is testing blockchain technology to speed up the subrogation process in auto insurance claims
The UNICEF Innovation Fund will invest $100,000 in six companies to develop charity-oriented blockchain projects
Data supports the idea that a bottom in crypto markets is near. Lets consult the charts
Crypto markets have failed to hold on to modest gains from Dec. 9, Bitcoin is trading below $3,500
UNICEF is investing $100,000 in six blockchain startups to solve issues affecting developing economies.
By Steven Maxwell Cash is a problem for banks and governments. And, as we know, banks and governments are joined at the hip each...
State Farm is trialing a blockchain solution to streamline a currently-manual aspect of insurance claims.
From July to November, DApps based on the EOS blockchain saw 27 hacks, nearly $1 million worth of crypto
New crypto exchange ErisX has announced the appointment of veteran exchange founder Matt Trudeau as its chief strategy officer (CSO)
U.S. SEC chairman Jay Clayton declared in a speech that ICOs are effective, but securities laws must be followed.
Good Money, a crypto banking platform, raised $30 million for future development work.
2. Econ envy? Observations from psychology.
Chinese-based cryptomining firm Bitmain is shutting down the operations of Bitmaintech Israel, its research and development (R&D) center in Ra'anana, Israel, according to reports from local news outlet Globes.
The R&D center, which produced Bitmain's
first Israeli mining pool ConnectBTC, was launched in 2016 to
explore meaningful use cases of blockchain technology, as well as
artificial intelligence for the company's Sophon project.
As the market continues its bearish run, Bitmaintech will reportedly close down its operations and lay off 23 of its employees, including Gadi Glikberg, Bitmain's vice president of international sales and marketing, who held a managing role at the center.
The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation," Glikberg revealed to employees.
As the downward trend of the cryptocurrency market continues, blockchain companies are having to make do with layoffs to stay viable. Last week, Ethereum studio ConsenSys said it was cutting 13 percent of its staff as the startup made moves to refocus its priorities.
Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members, a statement from the company explained.
Blockchain startup Steemit was also forced to let go of 70 percent of its workforce, citing the continued bearish trend in the market. Steemit CEO Ned Scott announced the layoffs in a blog post where he revealed that the revenue could no longer cover the costs the company incurs because of "the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes."
This article originally appeared on Bitcoin Magazine....
SFOX, an institutional
crypto trading platform, recently released a comprehensive,
data-packed analysis on the possible causes of the volatility in
the cryptocurrency space over the month of November.
The report, which SFOX released on their website, covers a large amount of raw data, looking at factors such as price fluctuation on a day-to-day basis and trading volume. With the data, SFOX presents arguments on the overall volatility of various prominent cryptocurrencies, and their methodology includes the volatility of the S&P 500 and gold for comparison.
A press release shared with Bitcoin Magazine claims that there are four factors that contributed to Novembers wild ride. Not only was the market uncertainty leading up to the Bitcoin Cash fork a huge point of uncertainty for the space, but the hash war between Bitcoin Cash ABC (now recognized solely as Bitcoin Cash) and Bitcoin Cash SV also led to the current instability.
These analyses seem supported by the data that SFOX gathered, as the Bitcoin Cash volatility seems far-and-away to have the highest volatility of the cryptocurrencies studied in the report. ETH, LTC and BTC also showed a steady increase in volatility over this period, but the S&P 500 and gold markets remained consistent by comparison.
The value of cryptocurrencies has become as volatile now as it was during the beginning of the 2018 crash in February, so it should come as little surprise that the data reflects this relationship with regular stocks. Still, the report details many of the most significant events leading up to this volatility spike on a day-by-day basis, specifying exactly where the volatility began to increase.
Specifically, the report hones in on the days preceding the Bitcoin Cash chain split as exacerbating volatility. It also details the SECs dual prosecution of Paragon Coin and Airfox and Jay Claytons speech at the 201...
Bitcoin's share in the cryptocurrency market reached an 11-week high late last week.
South Koreas government will spend $3.5 million to set up a blockchain-enabled virtual plant in the city of Busan
Paying local authorities and utility providers in Bitcoin should be possible, according to a UK Parliament member
SEC chairman Jay Clayton has said that ICOs can be an "effective way" to raise capital, but securities laws must be followed.
A report on the U.K.s money laundering and terrorist financing strategy highlights the need to address the emerging crypto sector
PayPals innovation lab based in San Jose has launched a blockchain-based token program that rewards innovation
Matt Trudeau, who has overseen some 10 global market launches, has joined crypto trading firm ErisX as chief strategy officer.
Facebook has listed five new blockchain-related jobs on its careers page within the past three weeks, as the social media giant continues to explore the technologys applications
Regulation making cryptocurrencies illegal has reportedly been suggested to the Reserve Bank of India by an Indian government panel
Cryptocurrency mining giant Bitmain has reportedly closed down its Israel-based R&D division, citing a crypto market "shake-up."
According to the Bitcoin Volatility Index as of yesterday, Dec. 9, volatility levels on the BTC-USD market have risen three-fold on the month
Ivey Business School at Western University (London Ontario, Canada) is looking for a Post doctoral Research Fellow to join our newly established CryptoEconomics Lab: http://cryptoeconomics-lab.com
The focus of the position is on conducting foundational research in the emerging discipline of cryptoeconomics, which examines the protocols and incentives that govern the production, distribution, and consumption of digital goods and services within decentralized online platforms.
The CryptoEconomics Lab at Ivey Business School is a cutting-edge initiative that is just getting started, and builds upon the schools Scotiabank Digital Banking Lab and its interdisciplinary team of faculty members and graduate students.
The wild west era of blockchain is ending and the scams and flimflams are being revealed but the fundamental of the technology will be used to build socially useful mechanisms.
By the way, the CryptoEconomics Lab has a good bitcoin crash course ( I believe that should be read, bitcoin crash-course!).
Facebook is advertising five job openings for blockchain talent across the areas of data science, coding and marketing.
Chinese mining giant Bitmain has reportedly closed its Israeli development center and fired 23 local employees
Bitcoin still has the potential to drop towards $3,000, despite a minor bounce from 15-month lows seen on Friday.
The right way to think about cryptocurrency coins is as lottery tickets that pay off in a dystopian future where they are used in rogue and failed states, or perhaps in countries where citizens have already lost all semblance of privacy. That means that cryptocurrencies are not entirely worthless.
Despite the devastating 51 percent attack on Vertcoin, ASIC-resistance is a goal worth fighting for.
Blockchain technology is slowly finding its way into more aspects of operations at Shinhan Bank
Australias National Transport Insurance (NTI) has announced it will trial a blockchain system to enhance the safety and provenance of beef exports abroad
A Japanese politician has proposed four changes to the taxation system he says will promote adoption of cryptocurrency in the country.
Heres what happened this week in Bitcoin in 99 seconds. Bitcoin hit a new yearly low just below $3,300. Altcoins fared even worse, with Ethereum falling below $90 and Ripple below 30 cents. The total crypto market cap stands at $108 billion with Bitcoins value comprising 55% of that figure
In this podcast, Luke and Jason of WeAreChange break down the conflict going on between the ruling class and the people of not only France but now Germany, Belgium, Sweden, and The Netherlands as well!
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In this weeks Hodlers Digest, Justin Sun promises to rescue EOS and ETH developers, while the SEC again delays the BTC ETF decision
After a seeing new year-to-date lows, Bitcoin has picked up and is trading close to $3,700 at press time
STOs have been underlined as illegal financial activity in China by the governor of the Chinese central bank
As if the drama surrounding the recent Bitcoin Cash split needed
a sequel, the vaudevillian sideshow has reached a new stage: the
A suit spearheaded by United American Corporation (UnitedCorp), a telecom company with a little-known blockchain subsidiary, BlockNum, is taking legal aim at Bitmain and its cofounder Jihan Wu; Bitcoin.com and its CEO, Roger Ver; Kraken and its CEO, Jesse Powell; and others. The suit is seeking injunctive relief, alleging that the defendants engaged in collusion for the purpose of control of the [Bitcoin Cash] network.
The suit indicates that it was filed on behalf of the plaintiff, UnitedCorp, and was launched on December 6, 2018, in the U.S. District Court for the Southern District of Florida.
We are bringing this suit on behalf of UnitedCorp because we believe strongly in the value and integrity of democratic, distributed and decentralized blockchain networks which will become more important with time. In order to maintain confidence in cryptocurrencies such as Bitcoin Cash, no person or entity can be allowed to control them, Benoit Laliberte, president of UnitedCorp, stated in a press release.
The lawsuit claims that during the recent November 15 Bitcoin Cash split, the defendants acted in unison to hijack the network and force an undemocratic protocol change.
This action involves a scheme by a tight knit network of individuals and organizations to manipulate the cryptocurrency market for Bitcoin Cash, effectively hijacking the Bitcoin Cash network, centralizing the market, and violating all accepted standards, protocols and the course of conduct associated with Bitcoin since its inception, the lawsuit reads.
An accusatory presentation entitled Anatomy of a Fraud on the Bitcoin (Bitcoin Cash) Network delves into the specific injunctions of each defendant. Notably, it claims that the defendants colluded with China, operating with the support of the Chinese government to centralize the Bitcoin Cash network resulting in Chinese entities now having established dominance over this important segment of the cryptocurrency market with proprietary software checkpoints and instituting other means of control over the system.
Defending its bold allegat...
In this video, we show you some of the things that are going on in Paris France! The Yellow Vest movement is taking to the streets like none in recent memory!
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BitGo has a new CEO for its custody business.
The cryptocurrency solution provider has recruited Richard
Corcoran as its new chief executive officer. Having retired some
years back after over 30 years in the traditional banking and
finance industry, Corcoran has come out of retirement to lead the
BitGo Trust Company, BitGo's crypto custody arm.
BitGo received approval from the South Dakota Division of Banking in September 2018, empowering it to act as a qualified custodian of digital assets for its institutional investors. At the time it was launched, BitGo Chief Compliance Officer Shahla Ali said that BitGo's custody would deliver modern security for modern assets.
BitGo CEO Mike Belshe highlighted the influence Corcoran would have on the firm, noting in the press release that he possesses a deep understanding of the opportunities and value creation that BitGo offers to its institutional customers.
Corcoran, who brings over 30 years of wealth management experience to BitGo, will be based in South Dakota, a state he knows well, having attended undergrad in South Dakota and spent most of his professional career working in the state.
As a trained attorney, Corcoran cut his teeth with business law firm Woods, Fuller, Shultz & Smith, where he spent 10 years, before switching to the First National Bank as executive VP of Wealth Management, both roles were in South Dakota.
As VP, Corcoran led a team responsible for managing a $4 billion
trust and a full-service investment brokerage department. Having
just retired from the First National Bank, Corcoran is coming out
of retirement to work in an industry that is, in many respects,
antithetical to his old beat.
When questioned on why he decided to join the blockchain industry, having just retired from the Trust business two years prior, Corcoran told Bitcoin Magazine that he was impressed with BitGo's leadership and how far the company had come.
"I was enjoying retirement this past year and wasn't seeking new opportunities. But I was so impressed by both Mike Belshe and BitGo's achievements, and I wanted to be a part of this exciting company that is delivering the highest levels of both security and regulatory compliance."
Corcoran would report to the company's board of directors, chaired by BitGo CEO Mike Belshe. Belshe, in a separate interview with Bitcoin Magazine, said Corcoran...
Malta-based cryptocurrency exchange Binance has added TrustTokens TrueUSD (TUSD) as a base currency, expanding the stablecoins available trading pairs.
Adding to TUSDs original BTC pair, Binance will add the
following trading pairs: BNB/TUSD, ETH/TUSD, XRP/TUSD, EOS/TUSD and
XLM/TUSD. The pairs, however, have not been integrated yet, and
representatives from TrustToken told Bitcoin Magazine that
more information regarding the integration will be revealed in a
forthcoming blog post.
The addition of TrueUSD as a quote currency offers more options to traders on the platform, who previously could only use Tether (USDT) as a trading hedge against other top altcoins on the platform.
Chief growth officer at Binance, Ted Lin, noted that the exchange had been impressed with the growth of TrueUSD since the stablecoin was first listed in May 2018. At the time, Binance had listed TrueUSD, but traders could only exchange it for ETH, BTC and BNB.
Now with a market cap approaching $200M, its clear the market values their product and were happy to support their continued growth. They believe as we do that operating in a trustworthy and transparent way is critical to the future development of the crypto ecosystem, Lin said.
Tory Reiss, co-founder of TrustToken, told Bitcoin Magazine that Binance chose TrueUSD as a quote pair due to the liquidity and trust that it is able to bring to the market. TrueUSD is currently the largest regulated stablecoin, which will allow traders to actually have enough supply to securely trade with a price stable cryptocurrency," he said.
TrueUSD is one of the most popular stablecoins in the market and the 25th largest cryptocurrency by market cap, according to CoinMarketCap. The token was developed by the Trust Token project as a stablecoin backed 1:1 by the U.S. dollar. While its market cap might still be far off from Tether's, TrueUSD has emerged as of late from Tether's shadows, outshining its competitor in its transparency through regular attestation and a reliable creation/redemption portal on TrustTokens website.
"We are hearing from traders that they value transparency and the ability to actually redeem when it comes to using a stablecoin. We like to say that redeemability leads to stability when traders know that they can exchange their tokens for U.S. dollars, they can have the confidence to use it in the market. We will see...
The U.S. Securities and Exchange Commission (SEC) has postponed its decision to approve or disapprove the VanEck/SolidX bitcoin exchange-traded fund (ETF). Per an official document published by the agency, the new deadline to review the VanEck proposal has been shifted to February 27, 2019, which the regulator claims would afford it the time needed to review the potential rule change further.
The SEC stipulates that the commission must either approve or
disapprove a proposal no later than "180 days after the date of
publication of notice of the filing of the proposed rule change."
However, there is a special clause that permits the agency to
extend this period by 60 days.
Since the proposed rule change was initially published in the Federal Register on July 2, 2018, December 29, 2018, would have made it 180 days. The extension to February 27, 2019, falls within the 60-day special consideration.
The statement from the SEC reads:
The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.
The director of Digital Asset Strategy at VanEck/MVIS, Gabor Gurbacs, remains optimistic despite the delay from the financial regulator. He sent out a tweet saying while today's delay was expected, the SEC's concerns are being worked on and rectified in the form of "improvements in the markets on pricing, custody & surveillance."
Speaking at a recent event in New York, the SEC Chairman Jay Clayton spoke on why the commission might not approve a bitcoin ETF soon. Clayton had argued that most of the agency's concerns, such as market manipulations, surveillance, and custody, were yet to be addressed by crypto operators.
What investors expect is that the trading in that commodity thats underlying the ETF is trading that makes sense, is free from the risk or significant risk of manipulation. Those kinds of safeguards dont exist in many of the markets where digital currencies trade, Clayton had remarked.
...Eight senators behind the no-confidence vote cited the planned introduction of a state-backed cryptocurrency, known as the sovereign, that they said risked harming the countrys image and making the nation a potential hub for money laundering and terrorist financing.
......The International Monetary Fund has said the cryptocurrencys introduction puts the country in uncharted waters and raises the risk of losing its correspondent banking relationship with the US dollar.
The post TONE VAYS, G-4 Crypto SUMMIT: Bitcoin to Hit $1,500, Then $50,000! appeared first...
Braiins OS has just released a new update to their alternative opensource OS for Bitcoin ASIC miners available for Antminer S9 and DragonMint T1 with support for AsicBoost support enabled. The new Braiins OS Cobalt is here to replace the previous released called Wolfram bringing some improvements such as new status page, per chip frequency calibration for S9, improved bulk upgrades and full compatibility with the Awesome Miner management app.
Braiins OS uses over (version-rolling) AsicBoost in accordance with BIP310, so in order to take advantage of that feature that essentially reduces power usage while maintaining the same hashrate...
As chairman and co-founder of the Social Alpha
Foundation (SAF), Nydia Zhang has left a solid mark on the
blockchain and cryptocurrency space, though, as a young art student
at the University of Washington in 2011, blockchain was far from
the direction she saw her life taking.
Zhang earned her bachelor's degree in art history in 2015 and spent the next few years carving out a career for herself in the field of art management. After working for several museums around the world, including Pearl Lam Galleries, Seattle Art Museum and Vermillion Art Collections in Hong Kong, she ended up at the San Francisco Museum of Modern Art, where she served as a research manager and board member.
In a recent interview with Bitcoin Magazine, Zhang explained how she got involved in the blockchain arena, what started the Social Alpha Foundation, what the companys goals are and how the blockchain stands to affect global operations in the future.
Founded in 2017 in Hong Kong, SAF is a not-for-profit, grant-making platform that seeks to support blockchain education and outreach by empowering communities to utilize blockchain technology for social good. The organization offers no-strings funding to companies and projects that educate communities on blockchain technology for social change. SAF also provides grant money to non-commercial blockchain applications that focus on improving public health, education and the environment.
Successful applicants receive funds ranging from $10,000 to $100,000, depending on the size of their projects. Grants are typically offered in cryptocurrency from individuals and commercial platforms that have executed successful token sales, creating a channel for donors to adopt corporate social responsibility practices.
Zhang first decided to get involved in the blockchain space after sensing it could assist in future philanthropic efforts.
I felt there was a need to link forward-thinking individuals working within sectors that could have a positive impact on society with funds to bring their visions and dreams to fruition, she explains. This drove me to become the co-founder of SAF and to enable leaders within the field of blockchain to utilize the technology for social good.
Interestingly, SAF was Zhangs first venture into the blockchain community, though she says its been one of the most rewarding experiences of her profes...
R3 has unveiled a new app on their international blockchain, a global payment platform that uses Ripples XRP as its initial base currency.
The app, dubbed Corda Settler, continues R3s track record for pursuing ambitious blockchain projects, and it is allegedly purpose-built to allow for payment obligations raised on the Corda blockchain platform to be made through any of the worlds payment systems, both traditional and blockchain-based. The press release clarifies that XRP will be the first cryptocurrency specifically supported by Settler, but also stated outright that it would not be the only one in the foreseeable future.
In the release, Richard Gendal Brown, R3s Chief Technology Officer, offers some clarification on his companys choice of XRP specifically.
The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the worlds most influential crypto and blockchain communities can work together, said Brown in the press release, adding that while the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step.
R3s Corda blockchain has already demonstrated its ability to handle a variety of different apps for different use-cases, and the Settler app will continue to operate on the same standard. According to the release, Settler will allow payments of all sorts to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement.
The press release concludes by describing a new functionality of Corda transactions, without specifically naming Corda Settler: namely, that parties in payment obligations now have the ability to request funds specifically in XRP. The team working on these updates at R3 evidently has some genuine confidence in XRPs appeal as a cryptocurrency and payment vehicle, despite having legal troubles with Ripple in the past.
The new app is hardly their first attempt to use a financial blockchain to reach clients all over the world, and they have had a solid track record in that field to boot. Earlier this year, R3 launched a...
Binance just offered its users an in-depth sneak peek of its
forthcoming decentralized exchange (DEX). Announced in March of
2018, the decentralized exchange will be built on Binances own
Binance chain, the soon-to-be base layer for BNB, Binances trading
currency that is currently an ERC-20 token.
Displaying the exchange in a testnet view, a representative from the Binance DEX team gives viewers a rundown of its main features: its web wallet, reading interface and built-in block explorer. The DEX, he reveals, will be available for users to trial on a testnet soon.
The developer opens the presentation by demonstrating the DEXs wallet function. So far, it houses two options, allowing users to create a new wallet with a store file and password or by generating a mnemonic (a.k.a seed) phrase.
In addition to these two, more options are in the works, the representative promises, though its unclear what form they will take (such as a hardware wallet or MetaMask integration, which are popular options for other decentralized exchanges).
Keeping with a DEXs promise to give coin holders control over their funds, users will be able to export their private keys from the exchange.
The video then dives into the exchanges actual trading interface, which is a near wholesale replica of Binances current layout, though with a few exceptions that include an account balance bar on the bottom left and a wallet address dropdown in the user icon in the top right.
In its final minutes, the video details the exchanges contingent block explorer. The explorer will give users all the expected functionality a block explorer brings for the Binance blockchain, including data querying for specific blocks, addresses, transactions and orders that have been executed on the exchange.
The Bitfury Group has recently announced a partnership with
crypto payment processing system Paytomat, working to bring the
Lightning Network to Paytomats participating merchants.
According to a recent Medium post made by LightningPeach, Bitfurys in-house specialized Lightning Network engineering team, the Bitfury Group is pouring its resources into Paytomats wallet and vendor system, enabling users and merchants on the Paytomat system to send and receive bitcoin payments over the Lightning Network almost instantly.
Both Bitfury and Paytomat participated in the Blockchain Expo in Amsterdam in June, and, after meeting, we began discussing our potential partnership opportunities, Pavel Prikhodko, the head of LightningPeach, told Bitcoin Magazine.
The partnership between the two companies seems like a natural fit. Bitfury specializes in building blockchain hardware and tools (such as mining chips), and Paytomat has a large base of customers and merchants already lined up.
Per the partnership, Bitfury will be incorporating Lightning directly into Paytomats platform. As Prikhodko described it, Bitfurys LightningPeach team integrated Lightning Network in Paytomat. Bitcoin Lightning payments are now built in to Paytomats merchant dashboard, allowing users to make instant and low-fee payments in Bitcoin.
The Lightning Network has generated a great deal of fame in the cryptocurrency space for its promise of instant and feeless microtransactions, but, as with many promising technologies, adoption can become a major hurdle. Prikhodko seems fully confident, though, in Paytomats ability to give Lightning and bitcoin sufficient exposure to its network of merchants.
You can find a list of merchants that are already working with Paytomat in their partnership section. Bitcoin Lightning payments on Paytomat will be made available to more than 300 merchants around the world.
On the aforementioned partnership section of Paytomats website, the company lists a wide range of vendors across Europe from the Iberian Peninsula to the Lower Countries and even as far as Ukraine. In ad...
As Bitcoin continues to near its potential bottom newbie traders are panicking despite the fact that the fundamentals of bitcoin are sound and unwavering even in this current climate! Just last month alone bitcoins market cap dropped by 37% and some say the bottom is yet to come with a bear market potentially lasting years! But what can savvy investors expect in 2019, 2020 and onwards?In this video Dan Dicks of Press For Truth speaks with Kenneth Ameduri of Crush The Street about the current market sentiment and the psychology of this space during this bear run and more importantly what you can expect bitcoin to do in the coming years as its now safe to say blockchain tech isnt going away anytime soon!
Having met the U.S. Securities and Exchange Commission (SEC) in
August 2018, officials of VanEck, SolidX and Cboe BZX Exchange have
met with the Commission again, in the latest attempt to convince
the regulator to approve the nation's first bitcoin exchange-traded
fund (ETF), according to an
official presentation submitted to the SEC.
The firms gave the pitch to the SEC's Division of Corporation Finance, Division of Trading and Markets, and Office of General Counsel.
The presentation given to staffers of the agency was focused on comparing the cryptocurrency market to other markets that already have exchange-traded funds, including silver and gold markets. The promoters of the VanEck/SolidX ETF hammered on its long-held view that the bitcoin market is ready for an ETF.
Using the vector error-correction (VEC) model to compare pricing data between exchanges over an extended period of time, the proponents argued that bitcoins price between the futures market and the spot market are connected. They then compared these price correlations to the markets for commodities like gold and silver, which also function as money substitutes to indicate that bitcoin features a "well-functioning capital market."
"The empirical evidence indicates that the spot and futures prices are cointegrated. This indicates that the spot and futures prices are tightly linked."
On the issue of market manipulation, one issue that the SEC has continued to point to in a number of ETF rejections this year, the firms argue that the market is more resilient than the regulators give it credit for.
"Several properties of bitcoin and the underlying ecosystem make it less susceptible to manipulation than other commodities that underlie already approved ETPs."
For most commodities, insiders might trade on information related to production or the "discovery of new sources of supply" of the product which could impact its price. With bitcoin, this is impossible as the inflation rate is fixed and transparent.
For this to be remotely possible, the "manipulation of the price of bitcoin on any single venue would require manipulation of the global bitcoin price to be effective."
Arbitrageurs would need to have funds distributed on crypto exchanges to have any chance of profiting from "temporary price...
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StableCoinsWar is an interesting new service that lists the most important data for a number of stablecoins such as their current price, market capitalization, market cap percentage, volume and velocity of money. A stablecoin is a cryptocurrency designed to minimize the price volatility, stablecoins are used as stores of value and are usually backed by fiat currency such as USD, EUR or other. You can get up to date and speed with a quick glance on the single page stats currently listing 8 of the most popular and used stablecoins with their top stats. Of course the top spot is held by Terher (USDT) as still the major stablecoin that is widely used, but it is slowly loosing positions to the number of newcomers. So if you use stable coins and want to be able to easily keep track on their performance, then do take a look at this useful service.
When bubbles get too big they need to be poppedand much like tearing a bandaid off of a wound doing it quickly is much more preferable than dragging it out. The cryptocurrency market has taken a massive hit in the past few days and while its difficult to call bitcoins bottom in this current climate of volatility, capitulation could be around the corner. In this video Dan Dicks of Press For Truth speaks with Josh Sigurdson of World Alternative Media about the bear markets all around, what factors are at play and more importantly what the individual can do to be better positioned moving forward.
Another update for the z-enemy 1.25 Nvidia GPU miner that comes with additional performance increase for both the new Nvidia RTX 2080, RTX 2080 Ti and RTX 2070 GPUs with up to 10% or even more in some cases. There are of course also optimizations for the older GTX 1080 Ti, GTX 1080, GTX 1070 Ti and lower model numbers from the Pascal microarchitecture, though here the performance boost is lower just about %3-7%, depending on your video cards. Definetly worth upgrading for the extra performance and there is also a bugfix that reduces CPU usage, so that can help as well to get better hashrate in some cases where the processor was overloaded previously.
Heres what happened this week in Bitcoin in 99 seconds. Overstock plans to sell its decades-old retail business in the next few months to focusing on its multiple blockchain-oriented startups. As a result of the announcement shares of Overstock surged as much as 26 percent although th
If youve read about Bitcoin, you would have also read about Bitcoin mining. Bitcoin mining is nothing but the process of creating Bitcoins from your computer. In this article, let us read about the meaning of bitcoin mining and if it is still profitable today.
Bitcoin mining involves updation of the ledger of Bitcoin transactions, called the blockchain. A user requires extremely powerful computers to perform mining. As a part of the process, miners race against each other in order to guess a particular number.
Earlier, there were several cryptocurrency adverts on Google, however, the same have now been banned making it difficult for miners to understand what they need to do when.
The first miner to make a successful guess about the number ends up updating the ledger of transactions and is rewarded newly minted Bitcoins.
Currently, if you want to earn profits with Bitcoin mining, there are certain strategies that you need to deploy. In April 2018, several bitcoin miners were at the risk of facing a shakeout and chances of profitability were low.
It is suggested that you put your money on equipment, storage, and cooling. You cannot profitably mine with a PC and GPU at home. Profitability can be calculated with the help of a Bitcoin mining calculator.
Bitcoin has emerged as an alternative to the banking system. This system allows for different operations with the transfer of funds from one account to another. Such a system does not need any central authority.
When users have a trustworthy central authority, money transactions are easy. For instance, when you tell a bank that you wish to transfer $100 from your account to another persons account, the bank is the authority with the power to process the transaction.
The bank alone takes charge of updating the ledger and holds the balances of everyone in the system
So, whats the process of establishing a decentralized ledger system? How can you give authority to someone to update the ledger without worrying about the incapability or their negligence?
Bitcoin answers all. It rules and has the required protocol to solve all these problems in a unique and interesting way.
Many people are not aware that the US Dollar is about to be intentionally collapsed in order to bring in a global currency.
Yesterday I posted an article warning that the IMF was setting up a world currency, a one world currency that would utilize blockchain as its means to bring in the cashless society. Inside that article Brandon Smith from Alt-Market.com wrote so eloquently the following:
In 1988, The Economist, a globalist publication, predicted (or rather, announced) that a global currency system would be launched in the year 2018. It is now clear that crypto and the blockchain are that system. This system would eventually use the IMFs Special Drawing Rights basket as a kind of bridge to a one world currency, which they referred to as the Phoenix. Though some people claim that the SDR itself is not a currency, globalists apparently disagree.
Mohamed El-Erian, former CEO of PIMCO, praised the idea of using the SDR as a world currency mechanism and as a means to counter populism, reiterating the plan outlined in The Economistin 1988.
In The Economist article, it is also hinted that the role of the U.S. as an economic center for the world and the role of the dollar as world reserve currency will have to be diminished in order to clear a path for the new world order system. We see this already taking place now, as we verge on an economic crisis which could easily collapse equity markets, bond markets, as well as the reserve status of the dollar itself.
With all that said, we can be certain that there...
IMF Setting Up World Currency & NWO End Game
The following article was written by Brandon Smith and originally published at Alt-Market.com.
There are two kinds of globalist schemes: First, there are the schemes they spring on the public out of nowhere haphazardly in the hopes that the speed of the event along with some shock and awe will confuse the masses and make them psychologically pliable. This strategy loses effectiveness quickly, though; the longer the plan takes to implement, the more time the people have to reconsider what is actually happening and why.
Second, there are schemes they slowly implant in the collective psyche of the citizenry over many years, much like subliminal messaging or hypnosis. This strategy is designed to make the public embrace certain destructive ideologies or ideas as if these ideas were their own.
The cryptocurrency scam is of the second variety.
I have been suspicious of the cryptocurrency narrative of a decentralized and anonymous monetary revolution since 2009, when I was first approached by people claiming to be representatives of bitcoin and asked to become a promoter of the technology. After posing a few very simple questions and receiving no satisfactory answers, I declined to join the bandwagon or act as a frontman.
The currency was backed by nothing tangible (and no, math is not a tangible resource). Anyone could create a cryptocurrency out of thin air that had attributes identical to bitcoin, therefore there was no intrinsic value to the technology and nothing stopping the creation of thousands of similar currency systems, eventually making bitcoin worthless. The scarcity argument for crypto was fraudulent. And, in the event of a grid down or an internet lock-down scenario (as has occurred in the past in nations under crisis), crypto was useless because the blockchain ledger was no longer accessible.
Trading with private wallets made little sense; how many people were you likely to run into in your community with a bitcoin wallet? The amount of time and energy required to accumulate these digital nothings seemed counterproductive to me in light of the fact that they might not be there when you actually needed them.
The only attributes...
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