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Financial services group HSBC said on Monday it had for the first time utilised blockchain technology to complete a speedy commercial trade finance transaction that normally takes around a week using normal paper-based processing mediums. The transaction was the first time that a blockchain the technology which powers cryptocurrencies such as bitcoin has
The post HSBC Completes Worlds First Blockchain Trade Finance Transaction appeared first on CCN
South Koreas government is widening its probe on cryptocurrency exchanges, particularly the use of corporate accounts which the regulators say can lead to money laundering. This announcement follows the prosecutors launching an investigation on the countrys largest crypto exchange, Upbit.
South Koreas top financial regulators are teaming up with prosecutors to widen their investigation of domestic cryptocurrency exchange operators. An official of the Financial Service Commission (FSC) was quoted by the Korea Times on Sunday:
Following a request by the Financial Supervisory Service (FSS) and the prosecution to address growing anti-money laundering compliance concerns and possible abuse of cryptocurrencies in money laundering and fraud, the FSC is looking into exchanges corporate accounts opened in local banks.
The use of corporate accounts for crypto transactions should have been discontinued when the government introduced the real-name system at the end of January. However, only 30% of all crypto accounts have...
Gemini has become the worlds first licensed Zcash exchange, the company announced on Monday. The New York City-based cryptocurrency exchange which was founded by Cameron and Tyler Winklevoss today revealed that it will open zcash trading markets (ZEC/USD, ZEC/BTC, and ZEC/ETH), which it says makes it the first licensed Zcash in the world.
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HSBC reportedly completes first ever trade finance transaction on blockchain with soybean shipment
A Florida County Tax Collector Has Partnered With Bitcoin payments chip BitPay to take cryptocurrency for a number of services. Seminole County Tax Collector Joel Greenberg said in a statement Monday that his office will take a bitcoin and bitcoin money for obligations associated with driver licenses and Identity document, automobile tags and names and property tax. The office decided to take the cryptocurrencies in an effort to streamline charge collection, decrease the possibility of fraud and id theft and increase the transparency and accuracy of payments. Greenbergs office added that it doesnt comprehend any cost volatility or risk to the county by accepting the cryptocurrencies.
Greenberg stated in the announcement: . The purpose of my office term is to do our client experience faster, smarter and much more efficient, and also to bring government agencies from the eighteenth century into the twenty-first century and also one way is the addition of cryptocurrency to our repayment options. The alliance with the tax collector of the county Seminole notes that BitPay is the first administration partnership. Head of compliance Jeremie Beaudry stated the business was launched because we realized the possibility of blockchain to revolutionize the financial sector, making payments faster, more secure and more affordable on a global scale.
With the Seminole County Tax Collectors office, weve engaged our very first government agency to accept bitcoin and bitcoin cash making it easy and smooth for them. He added. But, Greenbergs workplace isnt the only local government entity which has entertained the idea of accepting cryptocurrency for taxation. Arizona and Georgia lawmakers both proposed bills this year that would allow taxpayers to pay their country tax liabilities in bitcoin along with other cryptocurrencies, although neither bill made it through their respective legislatures. Calculator image via Flickr. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Derivatives exchange operator CME Group is starting an ether benchmark rate along with also a real time ether dollar index in partnership with UK based digital asset trading support Crypto Facilities. The operator noted on Monday that itd offer a daily benchmark price in U.S. Dollars each twenty four hours, and also the real time price based on transactions and order book action from cryptocurrency trades Kraken and Bitstamp, based on a media release. The rates are already available on the web on either the CME Group and Crypto Facilities web sites, and also will likely Be provided to the CME Groups Market Data Platform beginning June 4.
In a statement, the CME Group controlling your stresses director and Global Head of Equity Products and other investments Tim McCourt stated The Ether Reference Rate and Real Time Index are designed to satisfy the evolving needs of the market. Providing price transparency and a reliable price reference source is an essential development for users of ethereum. . Likewise Crypto Facilities Chief executive officer Timo Schlaefer said: . Ether, the second encryption, has experienced unbelievable adoption and expansion in 2017, evolving in a main blockchain for intelligent contracts. Were excited to be contributing to a strong community which has developed around the Ethereum network by providing a reliable benchmark rate and real time Ether Dollar price .
The new indicators will be supervised by the Bitcoin Supervisory Committee made by the CME Group, Crypto Facilities along with other industry participants, in accordance with the release. This supervision committee will regularly examine the methodology, practices and criteria to guard the integrity of the benchmark rates. . The news comes only Days after Crypto Facilities started trading in ethereum futures, as previously reported by CoinDesk. The platform declared it was launching the first futures contract to the token via a regulated platform on May 11. Crypto Facilities especially offers CME Group with reference rates for the latters own bitcoin futures. Ethereum picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Proof of Work cryptocurrencies like bitcoin are facing struggles with the wave of ASIC mining hardware. Nakamoto envisioned a decentralized cryptocurrency mining consensus spread across a large pool. But of late its turned into a environment where two or three major players reap a large portion of mining profits. As a result, developers and communities are
The post Secret ASICs, Hidden Farms, and Manufacturers Playing Dirty: the New State of Cryptocurrecy Mining appeared first on CCN
As a sensible web user who enables Adblock, you probably dont encounter many adverts while browsing. And on the rare occasions when you do, youre smart enough to resist the clickbaits overtures. But what would happen if you did click to discover the next bitcoin? Where would the experience lead you, and could you profit from this esoteric knowledge?
Like the homeless, cryptocurrency ads are all around but most people choose not to see them. To the majority of web users, theyre an inconvenience a distraction to be stepped over when reading Forbes and Vice and similar sites that use clickbait ads to conclude each paragraph like punctuation. While browsing the web on mobile recently, I came across one such ad:
Its likely youve see...
New York's Economic Development Corporation is launching several initiatives to put the Big Apple on the map as a blockchain technology hub.
CME Group, one of the worlds largest derivatives exchange operators, is taking steps that will prepare it to eventually list an ethereum futures product. The Chicago-based exchange announced on Monday that it has partnered with a group of large cryptocurrency exchanges to create an Ether Reference Rate and Ether Real Time Index, which will provide
The post CME Group Paves Way for Regulated Ethereum Futures with New Pricing Index appeared first on CCN
Derivatives exchange operator CME Group and U.K. firm Crypto Facilities are partnering to create an ether reference rate and real time index.
BitPay has partnered with a Florida county tax collector to facilitate tax payments in bitcoin and bitcoin cash.
Filament, a startup that focuses on the Internet of Things solutions, announced Monday that its successfully created a Universal Serial Bus compatible form factor for its blockchain semiconductor. Co founder and Chief executive officer Allison Clift Jennings told CoinDesk the apparatus, Based on Filaments existing technology, allows technologists to start blockchain jobs by simply connecting it to a compatible port. The blockchain native semiconductor was initially declared in January and gives the capability to sign and confirm transactions at the silicon level. . The new Blocklet apparatus, she said, builds on that, enabling blockchain processors to interface with existing infrastructure.
Many goods, not all, people may have as much as theyd like. .Semiconductor picture courtesy Asa Gilmore / Filament. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The chief executive of one the worlds largest cryptocurrency exchanges has called it quits. Chris Lee, the head of OKEx, has resigned from the Hong Kong-based exchange just as it was executing major international expansion plans and was on track to become the most widely-used cryptocurrency trading platform. OKEx did not immediately respond to a
The post OKEx Chief Executive Resigns Amid Cryptocurrency Trading Boom, International Expansion appeared first on CCN
From bitcoin futures' impact on spot prices to the rise in hash rate and drop in fees, our latest research report sheds light on a tumultuous Q1.
OKEx CEO suddenly quits as rumors swirl over reported $2 bln daily turnover
GIFcoin, short form for Gambling Investment Fund, is backed by an already functioning, profitable business VitalBet.com. The fund recently surpassed its set soft CAP of 5000 ETH after it entered the 5th stage of the ongoing ICO. VitalBet is a fully operational regulated online gambling portal, featuring popular casino, live casino, eSports, and virtual sports game offerings.
The recent milestone, achieved on April 25, 2018 comes amid a bearish crypto-market. It signifies that the project is on the right track with its product development and offering, while maintaining transparency throughout. The GIFcoin team has been actively sharing live updates with the community which is essential to build trust among the cryptocurrency community members.
The ongoing crowdsale, in its 5th stage, is offering an exclusive bonus of 15% to the participants.
The Recipe to Impressive Token Sale
The cryptocurrency industry has been under tremendous stress since the beginning of 2018. The bullish market that continued through the last quarter of 2017 suddenly inverted, causing massive fluctuations in cryptocurrency values. The situation has been dire, especially during the months of February and March. The uncertainties associated with the bearish market, combined with low cryptocurrency prices, almost eliminated the possibility of profitable investments until the GIFcoin token sale came along. Unlike other ICOs, the GIF price is set against ETH instead of fiat equivalent, which provided an opportunity for many to invest their crypto holdings in a project with a potential for long-term returns.
Uniqueness of GIFcoin and VitalBet Rebranding
It has become a common practice for projects to run token sale campaigns armed with no more than a website and a whitepaper describing the idea. Compared to such projects, GIFcoin is among the very few which have an existing profitable business operation to initiate an ICO.
VitalBet, the online gambling platform behind GIFcoin, has years of operational history, which, combined with unprecedented transparency and the future market potential in the gambling industry, has made investing in the crowdsale an attractive proposition.
Buff88 is created by focusing on the mindset of gamers. It includes an easy-to-use layout and betting options that...
In Mondays Bitcoin in Brief, Belgiums financial watchdog, which earlier this year published a warning about potentially fraudulent platforms promising fast and easy profits to crypto investors, has just expanded its blacklist. In Russia, reports have surfaced of a plot to assassinate Alexander Vinnik in Greece, where he fights an extradition request from US authorities accusing him of laundering billions of dollars, including funds from the hacked Mt. Gox. Elsewhere, Australia allocates budget for blockchain research, and Dubai-based exchange Bitoasis suspends dirham withdrawals.
Belgiums Financial Services and Markets Authority has expanded its list of unauthorized and potentially fraudulent crypto companies operating in the country. The financial watchdog has recently published a new warning noting that the FSMA is receiving an increasing number of consumer complaints regarding investments in cryptocurrencies [and] once again warns the public about these platforms, often operated by fraudsters who are now resorting to cryptocurrencies to swindle consumers. The regulator also said th...
The Reserve Bank of Zimbabwe has banned financial institutions in the country from processing cryptocurrency transactions for cryptocurrency traders and investors despite growing interest in digital monetary assets in the country. In order to safeguard the integrity, safety and soundness of the countrys financial system, and to protect the public in general, all financial institutions
Filament announced Monday that its blockchain-native semiconductor is now available in a USB form factor.
Cryptocurrencies Market Trends in 2018 by Dory Trupin The rise of cryptocurrencies is one of the biggest trends to watch in 2018. Bitcoin and other digital assets have seen tremendous growth over the last few years, with a number...
Cyber attacks are a very big problem in day and age. In a lot of cases, such threats are designed to steal sensitive information from companies and service providers. Australias Family Planning NSW recently fell victim to such an attack which saw thousands of patients almost having their sensitive details exposed. The criminals demanded a Bitcoin ransom for the sum of AU$15,000.
Family Planning NSW is one of the largest sexual health providers in Australia. They serve thousands of clients throughout the country. It also means the organization wields a lot of sensitive information, which poses a big target for hackers and other criminals. A recent cyber attack exposed a few weaknesses in the organizations website, which left their databases vulnerable. To this day, it remains unclear if anyone effectively had their details exposed in the process.
According to company officials, the attack was never about data theft. Instead, the hackers demand a Bitcoin ransom after infiltrating the website. With numerous attacks happening around the time period, the ulterior motive remains rather unclear. In the ransom message, the attackers threatened to shut down the Family Planning NSW website altogether.
Paying AU$15,000 in ransom is a rather steep amount. There was a timer on the website which showed the amount of time left to make the payment. It is unclear if the ransom has been paid at this stage. The Family Planning NSW website has been shut down to prevent any future attacks or discrepancies. The security weakness used for the previous attack has been addressed as well.
Over the past few years, there has been an influx of criminal activity demanding a Bitcoin ransom. This trend has become most apparent in the malware industry. Various strains of ransomware will lock users out of their computers and wont restore access until a B...
Thailands legal framework for cryptocurrencies has now come into force, bringing crypto transactions under the aegis of the countrys SEC
The cryptocurrency market has dropped $9 billion over the past 24 hours after demonstrating a $30 billion increase in valuation from $370 to $400 billion. Bitcoin Struggle at $8,500 The bitcoin price has struggled to surpass the $8,500 mark on throughout May 14, even after surpassing $8,700 on May 13. The market started to recover
The post Cryptocurrency Market Drops $9 Billion, Bitcoin and Major Currencies Remain Volatile appeared first on CCN
Bitcoin price recovered from $8,220 against the US Dollar. However, BTC/USD is finding it difficult to break the $8,800-9,000 resistance zone.
This past week, we saw a downside reaction from well above $9,000 in bitcoin price against the US Dollar. The price broke many support levels such as $9,000, $8,500 and $8,400 to trade close to $8,200. A low was formed at $8,226 before the price started an upside correction. It moved above the $8,400 resistance and even cleared the 23.6% Fib retracement level of the last decline from the $9,391 high to $9,225 swing low.
However, the upside move was capped by the $8,800 resistance and the 100 hourly simple moving average. It was rejected from the 100 hourly SMA and declined back below $8,600. The BTC/USD pair broke an ascending channel with support at $8,450 on the hourly chart. The recent downside break indicates that the pair was rejected from the $8,800 resistance zone. It is currently trading below the $8,500 support with a bearish angle. However, there is a major support forming near $8,300. As long as the price is above the stated $8,300 support, it is likely to move higher in the near term.
Looking at the chart, the price seems to be consolidating above $8,300. Once the current consolidation phase is over, BTC price may either move above $8,500 or break $8,200 for more losses.
Looking at the technical indicators:
Hourly MACD The MACD for BTC/USD is now back in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI is currently well below the 50 level.
Major Support Level $8,300
Major Resistance Level $8,600
The post Bitcoin Price W...
From this, the crypto-gaming market has been steadily evolving, and what can really revolutionise it is the connection of revived and promising HTML5 technology that allows for running a fully featured, graphically-rich game inside any browser with digital wallets like MetaMask or Toshi for controlling game assets stored on the blockchain.
The first of its kind in a new era of online gaming is a city building strategy game MegaCryptoPolis that will offer players from all over the world the opportunity to collectively build a unique mega city on the Ethereum blockchain.
Commencing on 21st May 2018, players can start acquiring blocks of land on the decentralized city map, which will then allow them to construct a range of building types, such as: residential, production and commercial structures. Every block of land, along with buildings that are constructed on it, is an ERC-721 crypt-tken that can be transferred or traded like any other cryptocurrency on integrated and external marketplaces.
Buildings will then begin to generate influence points, depending on what is built around their neighbourhood. For example, residential buildings near a commercial zone will produce much more points than a building that is close to a manufacturing facility. Its just like in real life. The value of a property or land block more often than not depends on location.
Every action inside the game requires some taxes that are collected for regional and federal budgets. These are then distributed amongst all players depending on their share of total influence points that are produced within a game cycle (24 hours). Players may then withdraw their earnings in the form of Ether every day directly to their Ethereum digital wallets.
When someone purchases a spare land block, smart contract raises the price of the surrounding 24 blocks of land. Part of the purchase price is then distributed amongst block owners in the 55 field.
The decree to regulate cryptocurrencies and initial coin offerings in Thailand goes into effect on Monday. The government has also revised the countrys tax code to add crypto taxation. Sellers of digital tokens will face a fine or even jail time if they fail to register with the regulator within 90 days.
The Thai governments decree to regulate cryptocurrencies and initial coin offerings (ICOs) goes into effect on Monday. The Digital Asset Management Act BE 2561 was approved by the Thai cabinet in March and has been amended since.
The revision of the Revenue Code No. 19 was also announced in order to tax crypto profits at 15%, according to local media. Finance Minister Apisak Tantivorawong previously said, as reported by the Bangkok Post:
It [the decree] was not meant to prohibit cryptocurrencies, initial coin offerings (ICOs) and other digital asset-related transactions, but to protect investors.
The financial is slowly becoming a career stepping stone rather than a final destination. A lot of people working in this industry eventually move on to completely different things.T his has become especially apparent when it comes to the cryptocurrency industry. The CFO of Commonwealth Bank is now the COO and Group President of the EOS project.
A very peculiar trend is forming in the financial sector. Various Wall Street experts are flocking to cryptocurrency as of late. This booming industry offers a lot of new opportunities waiting to be explored. It now seems this trend is taking place in other parts of the world as well. In Australia, Commonwealth Bank CFO Rob Jesudason is leaving the firm in favor of EOS.
Jesudasons main tasks at Commonwealth Bank include auditing, treasury, and investor relations, among other things. His addition to the EOS team as Chief Operating Officer will create a lot of waves in the industry. He is joining EOS as a member of the Board of Directors. Additionally, he will become the projects Chief Operating Officer and Group President. Block.one CEO Brendan Blumer explains Jesudasons role as follows:
Rob has a proven track record of success in global financial services, where he has been involved in industry innovation and facilitated regulatory advancement enabling the adoption of new technologies. His alignment with our organizational priorities of creating compliant, high-performance blockchain solutions, is an ideal fit for Block.one, and is an exciting conclusion to our thorough search for the right individual.
EOS is a project focusing on developing scalable blockchain software. Their high-performance project will enable secure data transfer and decentralized application support. It is considered to be the first performant blockchain platform for developers. At the time of writing, the project is valued at just over $12bn.
Blockchain technology can affect many different aspects of peoples daily lives. With a strong focus on low-cost, fast, and scalable solutions, EOS has a competitive advantage over some other solutions on the market. Parent company Block.one acknowledges the project is one of the fastest growing ventures in this particular ind...
Multinational software firm SAP is expanding its work with blockchain to the supply chain space. Torsten Zube, SAPs blockchain lead, revealed Monday that the company is seeking to apply the technology to agricultural supply chains as part of its Farm to Consumer initiative. Companies such as Johnsonville, Naturipe Farms and Maple Leaf are working as extra collaborators on the project. The Farm to Consumer project perfectly showcases a common pattern we see in many of our blockchain projects, Zube wrote in a blog post detailing the initiative. Cross company collaboration along complex value chains for which the technology may remove abundant process steps and friction, and build automated trust..
SAP will incorporate the blockchain in its global track and Trace technologies to act as an extra layer complementary to core processes that create one shared perspective on the information from all involved stakeholders contributing to the supply chain. The improved technology, Zube contended, allows companies to trace the sources of food products, enter requests and offerings, and also authenticate and execute transactions. SAP also revealed that its teamed with Swiss supply chain startup modum.io to further its supply chain ventures. SAP plans to provide more details on the firms joint work on aviator projects in June. Zube is optimistic about blockchain and thinks technology may potentially reconfigure current food industry production models.
A company claims one in five shipping containers are unaccounted for at any given time. Its Blockchain-based inventory aims to change that #SPONSORED
Cardano price is facing many barriers against the US Dollar and Bitcoin. ADA/USD must climb above $0.2820 and the 100 hourly SMA to gain upside momentum.
After a major downside move, ADA price found support near the $0.2300 level against the US Dollar. A low was formed at $0.2335 before the price started an upside correction. It recovered and moved above the $0.2500 resistance level. Buyers were also successful in pushing the price above the 38.2% Fib retracement level of the last decline from the $0.3203 high to $0.2335 low.
However, the upside move was capped by a strong resistance near $0.2820. The price also faced sellers near the 100 hourly simple moving average, which is currently at $0.2780. Moreover, the 50% Fib retracement level of the last decline from the $0.3203 high to $0.2335 low prevented upsides. More importantly, there is a crucial bearish trend line forming in place with resistance at $0.2750 on the hourly chart of the ADA/USD pair. The pair was rejected from the $0.2800 zone, 100 hourly SMA, and the trend line.
The chart indicates that the price is under pressure and it may decline back towards the $0.2500 support. Should buyers fail to keep the price above $0.2500, it may perhaps retest the $0.2330 swing low. On the other hand, if they succeed in clearing $0.2820 and 100 hourly SMA, there can be a sharp upside move towards $0.3200.
Hourly MACD The MACD for ADA/USD is now back in the bearish zone.
Hourly RSI The RSI for ADA/USD has moved below the 50 level.
Major Support Level $0.2500
Major Resistance Level $0.2820
Heres what happened this week in Bitcoin in 99 seconds. Bitcoins price came close to the key $10,000 level last weekend but failed to overcome it during this week. Late in the week, the price fell below $9,000, accompanied by negative news out of Asia. The rest of the crypto space also plunged reflexively, with [...]
Just recently researchers from the University College London published a paper about the patterns found in shielded and unshielded Zcash transactions. The study explains when users switch between these types of addresses anonymity is degraded. The team concludes that while Zcash transactions can be private, its also possible to diminish privacy if certain usage patterns are chosen by the Zcash user.
A group of researchers have found Zcash anonymity can be degraded through certain usage patterns. Sarah Meiklejohn, Mary Maller, George Kappos, and Haaroon Yousaf from University College London published a paper called ...
Ripple price is in a bearish zone against the US Dollar and Bitcoin. XRP/USD corrected slightly higher, but it struggled to clear a major hurdle at $0.7500.
This past week, there was a major downside move from well above $0.8000 in Ripple price against the US Dollar. The price even broke the $0.7500 and $0.7000 support levels and traded close to $0.6300. A low was formed at $0.6307 from where the price started an upside correction. It recovered above the $0.7000 level and gained upside momentum.
However, the price faced a strong resistance zone near $0.7400 and $0.7500. The upside move was protected by $0.7450, 100 hourly simple moving average, and a bearish trend line with current resistance at $0.7300. At the moment, the price is down and broke the 23.6% Fib retracement level of the last wave from the $0.6307 low to $0.7475 high. More importantly, the XRP/USD pair is currently attempting a close below an ascending channel with support at $0.7000 on the hourly chart.
Looking at the chart, the price is struggling to hold gains above $0.7000. It may decline further and test the 50% Fib retracement level of the last wave from the $0.6307 low to $0.7475 high at $0.6900. Below $0.6900, it may retest the $0.6500 support. On the upside, a proper break above 100 hourly SMA and $0.7500 is required for an upside acceleration.
Looking at the technical indicators:
Hourly MACD The MACD for XRP/USD is back in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now below the 50 level.
Major Support Level $0.6900
Major Resistance Level $0.7500
In a revelatory blog post, David Vorick makes a thorough examination of cryptocurrency mining from his experts point of view concluding that ASIC mining is an inevitable result of the big money involved in the mining industry.
Vorick who oversees development of the decentralized file storage coin SIA also operates Obelisk, his own ASIC manufacturing firm which is about to release its first ASIC in the weeks to come. In the essay The State Of Cryptocurrency Mining, he sums up what he learned on the way to bringing his miner to market and shares his conclusions and speculations about the future of Crypto mining.
The post thoroughly examins deep technical aspects of how crypto mining works and along the way reveals some of the dirty secrets of the industry. Perhaps the most telling part of the post is Voricks metaphor of ASIC rigs as money printing machines. He writes that A well-funded profit-maximizing entity is only going to sell a money printing machine for more money than they expect they could get it to print themselves as he alleges that manufacturers secretly mine with new units before making them available to the public.
He backs these allegations up using the Monero Cryptonight miner as an example. According to his sources, Monero was being mined by these machines for nearly a year before discovery. Vorick wrote that senior figures at Monero claimed botnets using hijacked computers were to blame for the jump in Moneros hashrate at the time but then had to adapt that story when Bitmain released its Monero specific x3s, adding that;
Its estimated that Moneros secret ASICs made up more than 50% of the hashrate for almost a full year before discovery a huge fraction of the Monero issuance was centralizing into the hands of a small group, and a 51% attack could have been executed at any time.
Vorick goes on to describe an underground mining industry where farms pay millions of dollars to get exclusive access to designs for specific cryptocurrencies. He believes that every proof of work coin with a block reward of more than $20 million has a group of secret ASIC mining it. He sums up the economics by writing The ASIC game has become such an advanced game because there is so much money on the table.
Vorick concludes the piece by writing that mining is for big players. That because of the economics involved centralization...
Just as the range of social networks has expanded to a number of different platforms with different underlying attributes and capabilities, crypto platforms will proliferate for every kind of use case and requirement. Crypto technology is almost synonymous with blockchains, but this is rapidly changing and with important implications. The DAG is coming The central
The post Opinion: Blockchains Scalability Problems Can Be Resolved by the Implementation of DAGs appeared first on CCN
From miner adoption to a lightning-like network to new partners, RSK, which developed the bitcoin smart contracts sidechain, is building momentum.
They say the real riches you make in bitcoin are the friends you make along the way. And on platforms such as the crypto-friendly Telegram, its true that you can meet avatars who become acquaintances who become best mates. But the most useful accounts youll interact with on Telegram are arguably those devoid of humanity together. Thats because the best accounts are those operated by bots.
Chatbots are not particularly new, nor are they unique to Telegram. But it is on the Russian messaging platform that theyve gained the most utility, which owes something to the data-driven nature of the cryptocurrency space. Ordering your pizza via chatbot on Facebook Messenger is less efficient than conventional methods. Being alerted to market movements, on the other hand, is a job thats best left to Telegram bots.
Price analytics are the most obvious implementation for Telegram crypto bots, and there is no shortage of candidates to choose from. ...
Bait to Plate / Cradle to Grave: Blockchain Exposed by Rory The Daily Coin We spilled a lot of ink during 2017 discussing blockchain, cryptocurrencies and our concerns surrounding these technologies. We covered our the possibility of the dark...
The post Bait to Plate / Cradle to Grave: Blockchain Exposed appeared first on The Daily Coin.
Ethereum price is recovering against the US Dollar and Bitcoin. ETH/USD is now trading above the 100 hourly SMA and $705, which is a positive sign.
After a major decline this past week, ETH price was able to hold the $635 support zone against the US Dollar. The price traded as low as $637.88 and started an upside move. It climbed higher and broke the $660 and $680 resistance levels. Buyers were even able to push the price back above the $700-705 resistance and the 100 hourly simple moving average.
These all are positive signs and suggests that the price recovered nicely from the $637.88 low. It traded as high as $740.67 and is currently correcting lower. It is about to test the 23.6% Fib retracement level of the last wave from the $737 low to $740 high. However, there are many supports on the downside near the $705-710 zone. There is also a key bullish trend line with support at $710 forming on the hourly chart of ETH/USD. Moreover, the 100 hourly SMA is positioned near the $706 level to prevent declines. Lastly, the 38.2% Fib retracement level of the last wave from the $737 low to $740 high is at $701 to act as a support.
Looking at the chart, the price remains supported on the downside above $702. As long as the price is above $700 and the 100 hourly SMA, it may bounce back and recover further.
Hourly MACD The MACD is slowly moving in the bearish zone.
Hourly RSI The RSI is moving lower towards the 50 level.
Major Support Level $705
Major Resistance Level $740
The post Ethereum Price Technical Analysis ETH/USD Could Recover Further appeared first on...
Bitcoin cash price is struggling to gain momentum above $1,500 against the US Dollar. BCH/USD could decline once again if buyers lose control in the short term.
There was a decent recovery over the weekend as bitcoin cash price moved above the $1,450 resistance against the US Dollar. However, the price struggled to break the $1,500 resistance, which was also a support earlier. Moreover, the 100 hourly simple moving average, which is currently at $1,490 also acted as a major hurdle for buyers. The price is currently moving down and it broke the 23.6% Fib retracement level of the last wave from the $1,266 low to $1,505 high.
During the decline, there was a break below a short-term contracting triangle pattern with support at $1,450 on the hourly chart of the BCH/USD pair. It seems like the $1,500 barrier acted as a crucial resistance and prevented declines. It may decline further and trade towards the 50% Fib retracement level of the last wave from the $1,266 low to $1,505 high. Therefore, the next major support is around the $1,400 and $1,380 levels.
Looking at the chart, the price is currently under a minor bearish pressure below $1,480 and the 100 hourly SMA. If buyers succeed in gaining momentum above $1,500 and 100 hourly SMA, there could be more gains. The next resistance in the mentioned case could be $1,620.
Looking at the technical indicators:
Hourly MACD The MACD for BCH/USD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for BCH/USD has just moved below the 50 level.
Major Support Level $1,380
Major Resistance Level $1,500
QUESTION: Socrates did an amazing job. It called the high in BitCoin right to the day. That makes me wonder. After thinking quietly about the claim that cryptocurrencies will replace everything as a new world monetary system because it will not be centralized and created by a central bank, this seems to be complete BS if the majority of money is created by lending banks. I asked a diehard proponent and he said we have to stop banks from doing that and suddenly the world will be a better place. I think that means no credit and everything would collapse. Am I far off here or are these people at least partially correct? Am I missing something?
ANSWER: No, you are correct. These people do not understand the monetary system and they take one simple fact and they blame everything on that and the solution is a cryptocurrency to eliminate central banks and the creation of money by lending. That is so impractical it just shows the lunacy of it all. If you stop the creation of money by lending, do you realize property values would crash? We would be back to the Dark Ages where if you wanted to sell your house, the price would be ONLY what cash someone has. That is why FDR created the 30-year mortgages. Real estate fell to virtually zero. It was being auctioned off at 10 cents on the dollar or less.
All pension funds would be wiped out. The savings accounts would not be there for probably 80%+ of banks would close if n...
The weekend witnessed more bearish pressure as the selloff continued. Total market capitalization has dipped below $400 billion but has recovered a little during Asian trade this Monday morning. There has been a very slight rebound but Bitcoin is currently trading level on the day at $8,450. This has not been enough to pull the altcoins out of their dips and many of them are still in the red at the moment. There are a few trading higher and one with the largest gains against the rest is Bytecoin.
Coinmarketcap reports that Bytecoin is currently trading 25% higher than the same time yesterday. BCN surged into the top 25 last week when it was listed on Binance but there were concerns about the monumental pump and dump which followed. The altcoin is currently trading at $0.011 which is comfortably higher than the $0.009 level yesterday. Over the week Bytecoin has been lifted by 60% from $0.0068 this time last Monday before the spike. The monthly picture is very positive with gains of over 250%. Measured against Bitcoin, BCN has made 24% on the day to 133 satoshis from 107 sats this time yesterday. Weekly gains are around 77% as BCN has climbed from 74 satoshis this time last Monday.
There were a lot of issues when the Binance listing occurred and the network came to a halt. Bytecoin made some effort to explain this last week in a Medium post;
Due to the large amount of miners who were using the old software a bug appeared in the network consensus. That bug was the cause of the networks instability. Wed like to say a huge apology to all the Binance users who were faced with Bytecoins network issues.
Binance has since re-enabled deposits and withdrawals of BCN which could be driving current momentum. It currently handles around 84% of the total trade volume which stands at $141 million at the time of writing. Volume for this altcoin is up 240% over the past 24 hours, this has pushed its market capitalization over $2 billion. Bytecoin sits at 17th spot in the charts which is now above Ethereum Classic, Icon and Qtum.
Total crypto market cap has gained a marginal 1.3% over the past day but the downtrend has now formed and it seems to be falling further. Currently levels are around $390 billion and Bitcoin dominance is climbing once again. Other altcoins showing gains of over 5% during the mornings Asian trading session include Nem, Lisk and Ontology.
More on Bytecoin can be found here:...
Following its acquisition of a qualified custodian, BitGo is unveiling a new product suite Sunday designed to appeal to institutional investors.
The number of new cryptocurrency exchanges is rapidly growing worldwide. This new crypto exchange roundup features four platforms located in South Korea, Thailand, Vietnam and the Philippines.
South Korean game developer Axia Soft Co. Ltd. has recently launched a crypto exchange called Coinbit. For its grand opening, the exchange is offering zero commission trades until the end of May.
Coinbit says 50 cryptocurrencies will be listed initially and more than 100 coins will be listed by the end of the year. Among supported cryptocurrencies are bitcoin, ether, ripple, b...
Bitcoin Price Key Highlights
Bitcoin price is exhibiting some bearish momentum and could draw more selling pressure on a correction.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA on the 1-hour chart to signal that the path of least resistance is to the downside. This suggests that the downtrend is more likely to continue than to reverse.
The gap between the moving averages is also widening to reflect a pickup in selling momentum. The 100 SMA lines up with the 38.2% Fibonacci retracement level to add to its strength as resistance.
A larger pullback to the higher Fibs or the 200 SMA could still be possible, but RSI looks ready to head south without hitting overbought levels. This signals that bears are eager to get back in on a shallow correction.
Cryptocurrency updates last week have been mixed, with a rough start on Buffets remarks and a bit of a pickup on news that ICE is getting ready to launch a bitcoin trading platform.
Apparently these havent been strong enough to spur a move past the $10,000 handle, so bears still have the upper hand and bulls are likely being cautious. It has also been reported that the launch of bitcoin futures led to the slump last December, which kept investors on edge that further bitcoin products could draw more selling action.
Nonetheless, more institutional money is projected to flow into the industry and this could mark the start of less dependence on speculative activity and higher volumes.
The post Bitcoin Price Watch: Will the Bearish Moves Continue? appeared first on NewsBTC.
Switzerland based on blocks, the Crypto Valley Association , Has added European venture capital company Lakestar as strategic partner, the institution revealed at CoinDesk this week. Lakestar has dabbled in blockchain, and in 2017 made investments in a crypto wallet supplier Blockchain and Exchange ShapeShift Exchange. Its portfolio also includes investments in Skype, Spotify, Facebook and Airbnb. With the statement, Lakestar will join the rank of CVAs existing strategic partners which have the multinational consulting firm PwC, along with ethereum startup ConsenSys. Additionally, Lakestar will chair the CVAs new Venture Building working group, which can be comprised of specialists from the blockchain and business sectors.
Lakestar has raised two funds with a total quantity of 500 million euros from 2013 and 2015, and intends to leverage this experience to provide guidance on technology investment for the Swiss blockchain consortium. The CVA, that has a lot more than 600 members, said it expects the partnership to be mutually beneficial. Their experience of investing and helping technology entrepreneurs efficiently scale and internationalize will offer distinctive insight to encourage CVA activity and our members, CVA chairman, Oliver Bussman stated of the firm.
Similarly, the CVA stated Lakestar will gain increased access to understanding of its startup community and ecosystem during its involvement. We see a great synergy between our proven history of global construction, digital leaders and also the work of the CVA blockchain teams, a partner of Lakestar Nicolas Brand explained. We anticipate working with the CVA and its members in encouraging a number of Crypto Valleys most exciting endeavors. Image via pxhere. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The crypto ban in Pakistan is proving to be not as effective as expected. If anything, the State Bank has barred commercial banks and financial firms from dealing in cryptocurrency which, of course, makes life harder for local exchanges. Individual traders, however, are finding alternative ways to acquire or sell cryptocurrencies, defying the warnings and the prohibitions.
Pakistans experience with cryptocurrencies offers another example of how ineffective financial authorities can be when trying to fill a legal vacuum with prohibitive administrative measures. Central banks often forget they are neither parliaments, nor governments, and their regulatory overreach cannot legitimately substitute the normal legal process. The recent decision of the State Bank of Pakistan to ban crypto-related activities proves that observation.
In early April, the SBP issued a circular on the prohibition of dealing in virtual currencies, right after a similar measure by the Reserve Bank of India, the regional rival. Unlike their Indian colleagues, who gave banks and traders three months to comply, Pakistani central bankers imposed th...
The 600-member Crypto Valley Association has added venture capital firm Lakestar as a strategic partner.
Like the rest of the markets, Ripple is down 20 percent in the last seven days effectively reversing previous gains. However, it remains perched at position three in the liquidity list. Even though the future prospects of this coin is wonderful, short term selling with targets at 45 cents can be a good trading strategy.
Winter is coming for cryptocurrencies in general. Facebook is all about being social and according to reports we are all receiving, they are planning to launch their own cryptocurrencies in a bid to improve lives even in the remotest part of the world. In their master plan, a cross border system that builds on the power of Marcus lead blockchain Research wing of Facebook shall surely eliminate the sufferings of the Diaspora. Now, if every one of their 1 billion users decides to utilize the coin once it goes live, we expect an immediate lift off and of course a shift of capital to Facebook coin.
Even if thats the future, Ripple is already hard on work and demonstrating how useful their technology is. There are plans of Cobalt and while Codius is now live-minus concrete development at GitHub-we can shift our attention to xRapid and xVia. Both are novel technologies that aid in rapid cross border payment as we saw last week. Then it was shown that by using xRapid, payment providers can save up-to 70 percent in costs. That is besides the time benefit that the end user gets to enjoy.
While we dip in to a freeze, China, known for their shifting stands on cryptocurrencies and especially Bitcoin, are now the official rating company. Yes, we have Weiss Ratings but China snatching this role through their department, the China Electronic Information Industry Development (CCID). Consequently, they shall publish a report in the next couple of days and if Ripple would react or not, the charts would show us.
Technically, week ending April 22 still defines the current prices. There after we have a months long period of accumulation all happening with a stochastic buy signal in this time frame. While statistics indicates that Ripple is down 20 percent...
There are some pretty nice developments in the markets that we should remain positive despite the down trend. As it is-and playing by the technical development-we expect prices to bounce back with Litecoin and IOTA probably spearheading that recovery. Its obvious that prices are building on May 12 gains and that should continue today maybe until prices test key resistance lines.
Let look at these charts:
Its a direct endorsement guys, CNBC just said investors should buy EOS. It may seem ridiculous now that investors and or traders alike are being told to buy in a dipping market but still, they are right. Considering Dan Larimer positive vibes and the EOSIO vibrant community, EOS might, could, explode before May 31.
David O'Rourke (@daithiorourke) May 11, 2018
It even gets better if EOS get listed at Fortuna, a blockchain platform for the $500 trillion derivatives market. Voting is ongoing so supporters should vote for it as it shall place EOS at a better position for institutional funds injection. Of course, that is what everyone wants but from last weeks market cap erosion, odds are bears might follow through and test May 12 lows at 12.
Our #BitcoinOptions have SOLD OUT contracts every week. What To...
ASIC miners are hugely profitable machines provided youre the manufacturer. Thats the view of Siacoin lead developer David Vorick, whos published his thoughts on the monopoly enjoyed by manufacturers such as Bitmain and Halong Mining. In The State of Cryptocurrency Mining, Vorick also accuses manufacturers of using the machines themselves, before passing them on to the public once theyre no longer profitable.
Siacoins David Vorick knows more than most when it comes to cryptocurrency mining. In addition to overseeing the development of decentralized file storage coin SIA, which uses a Proof of Work algorithm, Vorlick operates his own ASIC manufacturing firm. Obelisk was founded around 18 months ago, and with their first ASICs scheduled to ship in eight weeks, Vorick has decided to lay bare his thoughts on the industry. The State of Cryptocurrency Mining is a revelatory blog post that pulls no punches.
In it, Siacoins lead developer rep...
A new demographic analysis of people trading in cryptocurrencies has brought up some intriguing results such as that only very few are female, most have little to no previous experience, and many are students or working in sales and marketing roles.
Market analysts for the social investing network and multi-asset brokerage, Etoro, have conducted a research of their vast user base to help the company better understand exactly who are bitcoin and cryptocurrency investors. Looking at data from March 2017 to February 2018, they surveyed the public profiles of those investing in cryptocurrencies using their systems, and extracted demographic insights from age to gender to job sector.
One interesting point emerging from the data is that an absolute majority of traders are new in the business with regards to having any investing experience. A whopping 81.96% are at the Novice level, 10.66% are defined as Intermediate level, and just 7.38% qualify as having an Advanced level of experience in the market.
Looking at the breakdown by occupation, its not surprising to see people working in the computer and IT services strongly represented at 15.05%, as well as the finance industry at 8.48%. Less expected is the high share of people working at sales and marketing involved in cryptocurrency trading at 14.49%. Additionally, about 30% of cryptocurrency traders are currently out of the job market, with 13.85% being stude...
Koreas top financial regulator joins ongoing probe into countrys crypto exchanges in order to widen its scope
During Ethereal Summit, attendees were invited to track the tuna in their sushi from start to finish through the use of the ethereum blockchain.
MMA fighter Mei Yamaguchi from Japan is set to fight Angela Lee for the Atomweight World Championship title at One Championships Unstoppable Dreams in Singapore and, bitcoin cash promoter Roger Ver will be sponsoring her in that match. In a video announcing the sponsorship deal, Ver sat down with Yamaguchi to discuss MMA and cryptocurrencies.
The post MMA Title Challenger Mei Yamaguchi Sponsored by Bitcoin Cash Fan Roger Ver appeared first on CCN
There are reportedly more than 100 exchanges in South Korea, most of which are not using the governments real-name system. None of the small and medium-sized exchanges can use this system since banks have opted to only provide this service to the countrys largest exchanges.
It has been over 100 days since the governments real-name system was implemented at the end of January. However, most crypto transactions are still not made through this system. All small and medium-sized exchanges continue to transact through corporate accounts. Business Korea elaborated:
The domestic cryptocurrency market is getting more opaque as the financial authorities are not pushing banks and cryptocurrency exchanges hard toward using real-name accounts.
At ConsenSys' Ethereal Summit, the standard crypto garb was offset by some real fashionistas, promoting the idea of individuality over being subdued.
Zimbabwes central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.
Issued 11 May, the Reserve Bank of Zimbabwe, the countrys central bank, laid out seven points in ordering the shutter of things crypto within the southeast African nation. Referencing two previous circulars going back as far as three years ago, the notice explains banking institutions attention is once again drawn to the risks involved with virtual currencies and the need to ensure strict adherence to sound risk management. Our investigations have revealed that the major cryptocurrency exchanges facilitating the trade of virtual currencies in Zimbabwe are Bitfinance (Private) Limited (Golix) and Styx24. Golix has gone further to set up an ATM machine through which cryptocurrency transactions are facilitated.
Indeed, these pages first reported on the Golix c...
More insults flew this week from Wall Streetcrypto as baby brainsbut blockchain adoption wins across the globe balanced out the crypto week
Bitbond, an online bank founded in Germany in 2013 by German Radoslav Albrecht, has found an innovative use case for bitcoins borderless nature: international loan payments. It was the first to use bitcoin to transfer credit in currency internationally, not only as loan collateral, and its currently processing about $1 million in loan payments per month.
The post German Online Bank Dismisses Swift, Favors Bitcoin for International Money Lending appeared first on CCN
The Kingdom of Bahrain is eyeing the adoption blockchain technology in bid to decrease the cost of keeping up the nations vehicle registration data. Bahrains General Directorate of Traffic announced on Thursday a brand new plan to develop a blockchain based automobile registration system in the nation and is now searching for technical partner to concentrate on the systems design and implementation. Shaikh Abdulrahman bin Abdulwahab Al Khalifa, director general of the GDT, said in a statement: this register will be a vital advancement in reducing the total cost of keeping critical automobile info, offer greater efficacy with regards to logistics management, and also ensure a high degree of transparency for all stakeholders at the automobile registration ecosystem.
Announced throughout the Gateway Gulf Forum endorsed by the nations crown prince, the GDT plan comes as part of a larger drive by the Bahrain government to supply advanced technology through partnership with the private sector. Indeed, the Middle East nation has already seen significant financial institutions pursuing possible blockchain initiatives. As reported by CoinDesk at August 2017, the Bahrain based Arab Banking Corporation has joined the R3 dispersed ledger consortium in an attempt to supply additional services to customers. Before last year, the Bahrain government had began a dialogue with the Monetary Authority of Singapore, the nations de facto main bank, seeking advice, he sought to develop the national blockchain aviator, based on a local news report.
The capability for the blockchain to be adopted at the country level is a massive opportunity for Bahrain to move into the limelight as a pioneer in this area, Chief executive officer of Bahrain Economic Development Board, Khalid Al Rumaihi, said at the time. Bahrain image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bahrain's General Directorate of Traffic has a plan to develop a blockchain-based vehicle registry system.
Wall Street is losing a lot of talented individuals in rather quick succession. Steve Hunt is the latest individual to join this growing list. He is the former CTO of Jump Trading and has been acquired by Kraken, the popular cryptocurrency exchange. It is not the first time talent is poached from Wall Street, nor will it be the last.
Trading firms are rather common in Wall Street. While these companies pay a lot of attention to new payment technologies, cryptocurrency is still not making too many inroads. Or so it would appear, as a lot of executives active on Wall Street are looking into this nascent market. Over the past eighteen months, several people have left the financial world in search of success in the Bitcoin world.
Steve Hunt is the latest individual to do exactly that. He is best known for his stint at Jump Trading. This secretive trading firm has been active in the Bitcoin trading industry for quite some time now. As such, it seems a bit odd Hunt would decide to leave this growing company in search of a completely different venture. Jump Trading uses high-speed trading strategies. Steve Hunt oversaw the technical side of this company, as he was their chief technology officer.
Big was peoples surprise when Hunt left Jump Trading back in November of 2017. The departure was rather unexpected, but it seems a bigger plan was set in motion behind the scenes. Popular cryptocurrency exchange Kraken has been looking to hire additional staff since that same period. One of the open positions is a vice president of engineering. That role has now been filled by none other than Steve Hunt himself.
This hiring spree by Kraken was direly needed. The company received a lot of negative attention because of its partially degraded performance. The company has undergone a major transformation ever since. Its trading engine, frontend, and backend are all running a lot smoother. To ensure this system remains operation, Steven Hunt will be tasked with keeping an eye on things. Company CE...
On October 31, 2008, Satoshi Nakamoto had a vision to share with the world a protocol he called bitcoin, a new electronic cash system thats fully peer-to-peer, with no trusted third party. Since that time a whole lot has changed, and there is a vast cryptocurrency landscape with over 1,500 virtual currencies listed on data feed websites. Its been a very long time since Satoshi left the community and his vision, the white paper, and even the protocols proof-of-work has been questioned multiple times over the years.
Satoshi Nakamoto left the community in 2010, and no one has heard from the anonymous creator of bitcoin ever since. At the moment the bitcoin community has split into two factions due to the scaling debate, that coincidently started the same year Satoshi left. Many bitcoin cash supporters believe the BTC side of the community has never had a valid excuse against raising the 1 MB block size by utilizing a refuse to give in at-any-cost mentality. The bitcoin cash community believes this group has been so stubborn that Core supporters basically enabled blowback to occur this past August, allowing a large majority of users to go their separate ways by forking the protocol, before the introduction of the contentious Segregated Witness (Segwit). The protocol Segwit had been and still is...
Earlier this week, Bloomberg columnists and editors Benjamin Robertson, Matthew Leising, and Andrea Tan spoke with various experts from decentralized exchange projects, research firms, and cryptocurrency exchanges to explore the motivation behind the focus of blockchain projects on decentralized exchanges. The Necessity of Decentralized Exchanges Any platform or application online is hackable, especially if poor
The post Cryptocurrency Exchanges Pivot to Decentralization to Avoid Overseeing User Funds appeared first on CCN
Despite cryptocurrencies becoming a lot more appealing, spending them is still problematic. Very few retailers accept Bitcoin or cryptocurrency payments these days. That situation is slowly coming to change. Basepay is bringing Ethereum payments to over 11 million locations, with an option to connect this particular solution to Apple Pay.
Basepay has successfully surprised virtually everyone in the cryptocurrency world. The firm announced today how their app makes it possible to spend Ethereum at over 11 million retailers. There is support for nearly 400 million retailers in total, as online payment support is also built in. Bringing Ethereum payments tor retailers and consumers is a big development for the cryptocurrency industry as a whole.
The team is confident this new solution will yield some great results. Although usability will depend on location and phone OS, the target release is set for Q4 of 2018. Android users will receive access to this application first and foremost. iOS Support is coming later, as Apple usually takes longer when it comes to vetting new applications. This is especially true when said application is linked to cryptocurrency.
Contrary to what people expect, the technology itself isnt the big hurdle. Instead, it is the potential regulatory impact in various countries. Not every region is pro-cryptocurrency. this has become painfully apparent in China, India, and a few other countries. Additionally, there is no active cryptocurrency regulation in most of the world today. Applications such as Basepay may speed up the need for guidelines, albeit its real impact has yet to be determined. It could spell a bright future for Ethereum.
Despite the initial enthusiasm, the Basepay team is aware the real battle has yet to begin. Especially in the United States, seeking money transmitter licenses for individual states will be a major hurdle. The team has a compliance expert on their payroll to speed up this process accordingly. Other countries may pose similar challenges along the way, depending on how the regulatory situation evolves.
As is usually the case, the Ethereum community is both excited and ...
The Financial Supervisory Service (FSS) of South Korea has joined the investigation into the countrys largest cryptocurrency exchange UPbit. FSS will assist the Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) in evaluating the balance sheet of UPbit and existing regulations on cryptocurrency exchanges. Liquidity Issue Earlier this week, CNBCs Ran Neuner reported
The post Koreas Financial Watchdog to Join Crypto Exchange UPbit Investigation appeared first on CCN
The Blockshipping GSCP ICO (Initial Coin Offering) opens for public sale on Monday, May 14, and while the main focus has been on achieving a successful ICO, the Blockshipping team has also achieved significant progress on the product development side.
Delivering the Global Shared Container Platform in time as promised has top priority, and Blockshipping now launches the first in a series of prototype videos showing some of the platforms services and functionalities which are under development.
In parallel with the ICO preparations, Blockshipping is working determinedly to reach the first milestones of the development of the Global Shared Container Platform (GSCP).
When fully developed, the GSCP platform will include more than 34 different products and services all related to the global handling of freight containers for a wide range of shipping industry partners. But to allow future users of the platform as well as ICO contributors to visualise some of the services and functionalities of the GSCP platform Blockshipping is now producing a series of easy to understand demonstration videos.
The initial prototype video launched today offers a glimpse into one of the earliest GSCP prototypes concerning the so-called street turn method, also known as triangulation. Due to lack of a neutral, trusted platform street turn cost savings opportunities for carriers to the tune of USD 750 million per annum are not being realised today and the GSCP platform will radically change that.
The street turn strategy allows for the container shipping industry to significantly increase the efficiency of the handling of empty shipping containers. And by utilising the street turn method through the GSCP platform users will easily be able to find street turn matching opportunities, enabling empty containers to be moved directly from local consignees to local shippers and thereby significantly reduce the number of truck trips to and from container terminals.
The first Blockshipping GSCP prototype video launched today can be seen on Blockshippings YouTube channel:
First client and promising partnership announced
Due to the fact that Blockshipping is determinedly focusing on fulfilling the development plan for the GSCP platform and because the reception of the GSCP platform in the shipping industry so far has been overwhelmingly positive, Blockshipping has already been able to attract a global container carrier as the first customer and user of the GSCP platform. Blockshippings CEO, Peter Ludvigsen says:
I am extremely proud to say that a few days ago Blockshipping obtained confirmation from a global container carrier that they will join our G...
The worlds third-largest cryptocurrency is about to get a makeover, at least if one supporter gets his way. Earlier this week, Alexavier Guzman unveiled XRP Symbol, an open-source quest to find a new logo for XRP and assign it a Unicode-compliant currency sign. Guzman explained in a Forbes op-ed that he was prompted to
The post As SEC Debates Whether Cryptocurrencies Are Securities, Initiative Seeks to Distance XRP from Ripple appeared first on CCN
With seemingly endless new altcoins claiming that they will change the world whilst generating exorbitant returns for investors, it can be highly informative to sometimes get a birds eye view of longer-term altcoin performance by digging through the annals of Coinmarketcaps historic snapshots. When looking at a historic snapshot from May 12th, 2013, by far the best cryptocurrency purchase one could have made was bitcoin.
According to the...
Blockchain intelligence platform Chainanalysis revealed in November that 20% of Bitcoin currently in circulation has been lost at a value of about $25 billion. On May 11, Bitstamp used this data to advocate for offline storage and argue that this puts an upward pressure on the price.
The data shows that around 20% of the circulating supply is inaccessible or has been destroyed. The price of a cryptocurrency depends on the ratio between buyers and sellers. If there is much more supply than demand, the price lowers and vice versa. As such a large percentage of the circulating supply is unable to be sold, there is less supply-side pressure. In theory, this adds momentum to the price rising.
Bitstamp said: All of these losses could easily be avoided if people behaved with the same vigilance when storing Bitcoin as we do with traditional assets, like gold. In fact, just like with gold and paper money, the safest place to store crypto might be in a good-old safety deposit box.
Bitcoins are lost when they are sent to incompatible addresses, including addresses for other cryptocurrencies. Alternatively, access to Bitcoins can be lost when a user no longer knows their private key. The Bitcoins are still in the network but will never be moved. James Howell hit the news when he asked his local council to dig up a landfill site to find his lost hard drive containing 7,500 BTC. This would have a current value of around $64 million.
As their corrupt governments continue destroying the value of their currency through inflation, many people in Africa are switching to cryptocurrency to take the power back from the establishment.
There is a gender gap in the blockchain, cryptocurrency, and tech industries. What can be done to get more women invested and involved?
LG Corporations subsidiary has launched its own blockchain service Monachain, according to a report by local Yonhap News
The cryptocurrency market has begun to recover as major cryptocurrencies including Ether and EOS recorded gains of more than 5 percent over the past 24 hours. Tokens such as Ontology (ONT), Storm (STORM), and Tron (TRX) demonstrated gains in the 10 to 15 percent region. Tokens Lead As the bitcoin price struggled against the US
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This weeks round-up features a colorful selection of bitcoin stories but well start with the possible explanation for recent market dips. Most cryptocurrencies dropped in price over the period, following developments with depressing effect on traders. In Japan, Mt. Goxs bitcoins stored in court ordered wallets have moved again, while in South Korea, the largest exchange Upbit has found itself under investigation for suspected fraud.
The prices of leading cryptocurrencies dropped this week, with some recovery across the board on Sunday. The negative trend was probably determined by some notable developments in Asia, powerful enough to influence the mood of traders. Just as Bitcoin (BTC) looked poised to storm the $10,000 psychological threshold, the ghost of notoriously hacked cryptocurrency exchange Mt. Gox reminded bitcoiners it isnt done with them yet. Tokyo-based court appointed trustee of the remaining bitcoin to be distributed among creditors, Nobuaki Kobayashi, seems ready to flood the market, again. According to Blockchain.info, over 8,000 coins from two court ordered cold storage wallets have been recently shifted. As soon as the news broke, BTC prices plummeted.
People make agreements all the time. In general, these agreements tend to be either hopeful promises secured by a handshake and some goodwill, or they are the really intense kind of agreement that requires lawyers, contracts, and signatures.
One method is friendly and based on good intentions, while the other is intimidating and formalized. Whats more, because creating legal contracts requires a lawyer and all the accompanying cost, many people avoid this process if at all possible.
However, the emergence of blockchain technology and its accompanying platforms means that people dont have to rely on handshake agreements or formalized contract negotiations any longer.
Agrello, a blockchain-based platform for creating legally binding smart contracts, makes it possible for anyone to create formalized contracts that are easy to build and maintain. Using just a mobile app and a graphical interface, smart contracts can be created and executed with just a few taps on the screen.
The blockchain does a lot of things well, but its smart contracts are one of its most lauded and most compelling features. Governed by code, these contracts act as a digital, malleable escrow account that guarantees that the desired outcome will be achieved. With a smart contract, users can set predetermined stipulations that automatically execute when specific qualifications are met.
To make the process as simple as possible, the Agrello app is outfitted with several smart contract templates, and for those needing a more specialized production, there is a built-in wizard to help with the setup process. Because these template contracts are crowdsourced, the template library is always becoming more robust and diverse.
Once created, the smart contract is placed on the blockchain, and a subsequent, legally binding document is created and digitally signed. From there, an AI-powered agent counsels both parties through the smart contract by notifying users of their legal obligations and upcoming duties.
This process is simultaneously fully automatic and completely customizable.
Smart contracts have implications for all sorts of activities. They can help someone power their participation in the sharing economy, they can create binding agreements between neighbors, or they can facilitate workplace promises.
A January report by NPR indicates that one in five jobs in America is com...
Greek police recently discovered a plan to kill Alexander Vinnik, a Russian national detained in Greece at the United States request under suspicion of money laundering, an unnamed source told Sputnik. Vinnik is wanted in the U.S. for allegedly laundering more than $4 billion in bitcoins. The sum includes funds stolen from the now-defunct bitcoin
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Steve Chiavarone, VP at financial services firm Federated Investors, talked-up blockchain in an interview with CNBC May 11, calling the technology an economic growth driver and listing it among five key technologies that he believes will drive this next industrial revolution.
When asked whether blockchain will be a driver of economic growth, Chiavarone made note of the automatization and increased efficiency blockchain offers, saying:
When you think about it from an enterprise perspective, it has the ability to replace reconciliation which is expensive and requires back office, and time, and paperwork with more instantaneous verification.
He continues, saying that:
Companies can have more efficient supply chains and can cut their back and middle office costs. That, Chiavarone says, will allow business to flow more efficiently, and will allow costs to be cut and that saving to be passed along.
In addition, he states that any company with a supply chain can benefit from this [blockchain].
Chiavarone ranked blockchain as one of five key technologies that will he believes will drive this next industrial revolution. Along with blockchain he noted automation, robotics, Artificial Intelligence, and the Internet of things (IoT).
The interviewer then asks how investors can play the potential of blockchain, and whether its best to simply buy Bitcoin, or whether one should instead lean towards companies that utilize the underlying blockchain technology itself. Chiavarone says that a lot of people went to Bitcoin first, but then points to blockchain-related companies like Nvidia and Intel that enabl...
Chinas government is well known as a crypto hater, and its banishments and pronouncements are the stuff of wild market swings. That doesnt mean, however, theyre not keeping close eye on decentralized currencies. In fact, according to recent press releases, Chinese authorities are set to publish regular monthly analysis of over two dozen crypto assets, its Global Public Chain Assessment Index.
This independent analysis of cryptocurrencies and global public blockchain technology demonstrates the confidence of the Chinese Government in the technology, and will act as a guide for government, enterprise and research institute, a government press release read this week.
Bitcoin price is facing tough barriers around $8,900-$9,000 against the US Dollar. BTC/USD must stay above $8,200 and $8,000 to avoid any further losses in the near term.
This past week, there was a sharp bearish reaction from the $9,500 pivot level in bitcoin price against the US Dollar. The price declined sharply and moved below the $9,000 and $8,500 support levels. The decline was such that the price traded towards the $8,200 level. It also broke a connecting bullish trend line at $9,000. A low was formed at $8,226 before buyers appeared. Later, the price started consolidating losses above $8,200 and is currently stable.
It tested the 23.6% Fib retracement level of the last decline from the $9,479 high to $8,226 low. It seems like the price is finding it hard to move above the $8,500 level, which is also a pivot level. Above the $8,500 level, the 50% Fib retracement level of the last decline from the $9,479 high to $8,226 low is at $8,850. There is also a significant bearish trend line forming with resistance at $8,900 on the 4-hours chart of the BTC/USD pair. Therefore, the price is likely to face sellers near the $8,500 and $8,900 levels. Once there is a proper close above $8,900 and $9,000, there could be more gains towards $9,500.
Looking at the chart, the current price action is slightly bearish below $8,900. On the downside, the $8,200 level is a decent support, followed by $8,000. If bitcoin fails to hold $8,000, it could decline below $7,500.
Looking at the technical indicators:
4-hours MACD The MACD for BTC/USD is about to move into the bullish zone.
4-hours RSI (Relative Strength Index) The RSI is currently well below the 50 level.
Major Support Level $8,200
Major Resistance Level $8,900
Ethereum price tested major supports versus the US Dollar and Bitcoin. ETH/USD is currently correcting higher and is facing resistances near $710 and 100 hourly SMA.
There was a monster decline from the $825 swing high in ETH price against the US Dollar. The price declined sharply and moved below the $760 and $700 support levels. It even traded below the $650 level and formed a low at $638. Later, it started consolidation is showing positive signs above the $650 level. There was also a break above the 23.6% Fib retracement level of the last decline from the $768 high to $638 low.
On the upside, there is a major resistance seen near $704 and the 100 hourly simple moving average. Moreover, the 50% Fib retracement level of the last decline from the $768 high to $638 low is around the same $703 level. There is also a crucial bearish trend line forming with resistance at $720 on the 4-hours chart of ETH/USD. The pair may continue to trade higher in the near term, but it is likely to face sellers near $704 and $710. A proper break above the $704 resistance and the trend line is needed for more gains.
The above chart indicates that the price is consolidating gains above the $640 level. As long the price above $640-650, there is a chance of ETH breaking the $720 barrier for more gains during the coming days.
4-hours MACD The MACD is about to move into a bullish zone.
4-hours RSI The RSI is slowly moving higher towards the 50 level.
Major Support Level $640
Major Resistance Level $720
The post Ethereum Price Weekly Analysis Can ETH/USD Recover Further? appeared first...
Just recently news.Bitcoin.com reported on traders who exchanged significant trade volume using the peer-to-peer platform, Localbitcoins, by receiving warnings to upload their identity before they could proceed trading. Now the Localbitcoins organization has updated its terms of service agreement which comes with a few new guidelines concerning ID verification and data retention.
Localbitcoins the peer-to-peer exchange founded in June 2012 in Helsinki, Finland has been a very popular trading platform for quite some time. For a while, users could trade in a fairly anonymous manner as it wasnt required for traders to upload their identification. However a few years ago the organization added the ability for users to verify their state ID or license through a system called Jumio Netverify. A user could voluntarily upload their ID, adding more trust to the trading situation if the person is a real individual. Then this year traders who have been trading significant amounts of BTC volume reportedly were being asked to upload their ID to proceed to trade further using the platform.
Now the business has updated its terms of service (ToS), and explains much of the changes are due to EU regulation, specifically...
Bitcoin cash price declined towards $1,250 against the US Dollar. BCH/USD is correcting higher, but upsides remain capped by the $1,500 level.
This past week, bitcoin cash price trimmed most of its gains and declined from the $1,700 level against the US Dollar. The price declined sharply and moved below the $1,500 and $1,300 support levels. It traded close to the $1,250 support and a low was formed at $1,276. At the moment, the price is correcting higher and is trading above the $1,350 level.
It also moved above the 23.6% Fib retracement level of the last decline from the $1,677 high to $1,276 low. However, the price is facing a lot of sellers around the $1,475 level. It also represents a crucial pivot zone, acting as a barrier for buyers near $1,500. It was a support earlier and is now preventing gains above $1,500. The 50% Fib retracement level of the last decline from the $1,677 high to $1,276 low is also around $1,475. There is also a major bearish trend line forming with resistance near $1,500 on the 4-hours chart of the BCH/USD pair.
Looking at the chart, the price is clearly facing hurdles near $1,475 and $1,500. Moreover, the 100 hourly simple moving average is also near $1,475 to prevent gains. A break above the $1,500 level could open the doors for more gains towards $1,600.
Looking at the technical indicators:
4-hours MACD The MACD for BCH/USD is slowly moving into the bullish zone.
4-hours RSI (Relative Strength Index) The RSI for BTC/USD is currently just below the 50 level.
Major Support Level $1,380
Major Resistance Level $1,500
GMO Internets cryptocurrency exchange has added four more cryptocurrencies to its loan program which allows customers to lend their cryptocurrencies to the company. The program was originally launched last month for just bitcoin (BTC) but GMO has now added bitcoin cash (BCH), ether (ETH), litecoin (LTC) and ripple (XRP) to the program.
GMO Coin, the cryptocurrency exchange subsidiary of Japanese conglomerate GMO Internet, announced this week the addition of four cryptocurrencies to its loan service which allows customers to lend their coins to the company.
The service allows you to rent out the virtual currency held by the customer to the company so that you can receive the rental fee according to the quantity of the lent virtual currency, the exchange detailed. GMO first intr...
According to a team of Indian lawyers, the Supreme Court of India refused request for a temporary injunction against restrictions imposed on banks regarding cryptocurrency by the countrys central bank. The Reserve Bank of India (RBI) issued a circular essentially banning crypto services, which will remain in place at least until a formal hearing.
Crypto Kanoon (@cryptokanoon) is a group of
lawyers active in the space concerned with regulatory analysis and
legal awareness. Theyve been particular watchful of goings on
regarding Indias central bank, RBI, and its recent circular
demanding banks it serves shut down any business with
Through a petition challenging the RBI ban, enthusiasts hoped by this week to see some relief at the countrys highest court. An interim measure employed by most courts around the world is to cease a particularly controversial action until such time as a final decision can be made. And it was just such a move crypto advocates were hoping would be followed during the petitions consideration: allow banks to continue serving cryptocurrency clients as they had prior to the RBI ban.
Cryptocurrencies have been dropping in value this Saturday, May 12 as most digital assets are down between 3-15 percent. The price of Bitcoin Cash (BCH) is hovering around $1,446 at press time while gaining 3.4 percent today And Bitcoin Core (BTC) values are averaging roughly $8,473 per BTC and its markets are down 1.4 percent this weekend.
Traders and cryptocurrency enthusiasts are uncertain of the short-term path ahead for digital assets, as most cryptocurrencies have lost a bunch of value once again. Many believe digital assets will see a rise at some point next week, as cryptocurrency markets have consistently risen every year in mid-May year after year. News has been fairly positive as Wall Street seems to be embracing cryptocurrencies even more so these days as new indexes and funds have launched. However, crypto-proponents are still concerned about regulations as exchanges are still being raided in South Korea...
South Africa has the most sophisticated economy and financial sector on the continent, and its citizens are increasingly warming up to the idea of investing and trading in cryptocurrencies despite regulatory concerns over such decentralised digital financial assets across the world. The MyBroadband 2018 Cryptocurrency Survey completed in April shows that more South
The post 47% of South Africans Plan to Invest in Cryptocurrencies appeared first on CCN
"No one knows what the !@#$ is going on."
Blockchain Week New York City, the annual conference also known as Consensus 2018, kicked off yesterday.
Based on the market reaction in the previous three events, analysts expect the prices of Bitcoin and altcoins to move upward. Fundstrats technician Robert Sluymer says Bitcoin has bottomed with an upside seen from here.
The most important annual conference for the cryptocurrency ecosystem is taking place in New York while Bitcoin sits just above the 50-day moving average. While the blockchain industry gets together to move the technology forward, digital currency investors wait on the sidelines and hope for the best.
According to Robert Sluymer, managing director and head of technical research at Fundstrat Global Advisors, a lot of people are looking for clarity on projects as uncertainty around regulation still looms. He added that it should all become clearer as we move around Consensus.
With regard to the technical analysis, Sluymer told CNBC that he expects Bitcoin to shake a few traders, but to hold around the 50-day average, which is fairly close to where we are now.
Bull-bear scenario developing where folks are arguing its getting lower. Our view is this is a much bigger bottom that has developed. If thats the case, this pullback will be relatively shallow. Its already pulling back from the 200-day. Its sitting just above the 50-day moving average. So, between the $8,800 and $8,200 and I know its a big range but thats where we will see support and we think Bitcoin continues higher from here.
Regulatory risk is the fundamental issue driving the downward pressure on cryptocurrencies, but Sluymer is confident that the market has bottomed. He is of the opinion that it is in a stage of general recovery and that the Blockchain Week will be the next big catalyst for Bitcoin.
Fundstrats Global Advisory forecast is based on three data points, the past events in 2015, 2016, and 2017. All of the previous conferences were followed by a bullish response from the cryptocurrency market.
The week-long event includes high-profile names such as St. Louis Federal Reserve Bank President James Bullard, European Parliament member Eva Kaili, and Twitter CEO Jack Dorsey, among other movers and shakers in the cryptocurrency world.
The organization expects to host approximately 8,000 people, half of whom are coming from abroad. Last years event had a turnout of 2,700 atten...
Brian Forde, who is running for the California's 45th district seat in the U.S. House, is pitching himself as the crypto candidate.
Zimbabwes central bank (RBZ) has banned the transacting in and trading of cryptocurrencies.
The ban which applies to all financial institutions was put forth by the RBZ registrar of banking institutions, Norman Mataruka, in a circular yesterday. The reason for the move was to protect the public and safeguard the integrity and safety of the countrys financial system, he said.
Mataruka also specified that accepting cryptocurrencies as collateral, opening accounts at cryptocurrency exchanges, and the transfer or receipt of money in accounts relating to digital currencies are also prohibited.
As monetary authorities, the Reserve Bank of Zimbabwe is the custodian of public trust and has an obligation to safeguard the integrity of payment systems, Mataruka said. Cryptocurrencies have strong linkages and interconnectedness with standard means of payments and trading applications and rely on much of the same institutional infrastructure that serves the overall financial system.
The moves by the RBZ were further outlined in a separate statement made by John Mangudya, the banks governor, who issued a warning to the public about trading in the coins, according to NewsDay. Mangudya also stated that the BitFinance exchange (who operate the largest local exchange, Golix) is not licensed or regulated by the institution.
Any person who buys, sells, or otherwise transacts in cryptocurrencies, whether online, or otherwise, does so at their own risk and will have no recourse to the Reserve Bank or to any regulatory authority in the country, Mangudya said.
The Reserve Bank of Zimbabwe has not authorised or licensed any person or entity or exchange for the issuance, sale, purchase, exchange or investment in any virtual currencies/coins/tokens in Zimbabwe. Exchanges such as BitFinance (Private) Limited (Golix) and Styx24 are not licensed or regulated by the Reserve Bank.
Mangudya added that the RBZ would continue to monitor both regional and global cryptocurrency developments in order to inform policy direction moving forward.
In the nearer future, the individuals and financial institutions that are currently trading cryptocurrencies have been given 60 days to cease operation...
Greek authorities have reportedly managed to uncover a murder plot targeting Russian national Alexander Vinnik, which was arrested in the country earlier this year, suspected of laundering $4 billion in bitcoin through cryptocurrency exchange BTC-e. According to news source Sputnik, Greek police received information about the murder plot earlier this year, but decided not to
The post Greek Police Uncover Plot to Murder Alleged Bitcoin Launderer Alexander Vinnik appeared first on CCN
The first initial coin offering (ICO) by a publicly traded company in Thailand has begun trading on a couple of local exchanges. Meanwhile, the regulators are still drafting the legal framework for cryptocurrencies and token sales.
The launch of an ICO by a publicly traded company has paved the way for other token sales in Thailand.
Jay Mart Plcs subsidiary, J Ventures Limited, launched its ICO called Jfin Coin last week. Jay Mart Plc operates in the wholesale and retail sectors for mobile phones and technology accessories and is listed on the Stock Exchange of Thailand (SET).
The pre-sale of Jfin Coin was held on February 14 at the rate of 6.60 baht (~US$0.21) per token, which was sold out. Its ICO debuted on local cryptocurrency exchange Coin Asset at 6.45 baht, but quickly tanked 57.09% to roughly 3 baht before regaining some of its losses. It is currently trading at 3.94 baht (~$0.12).
Traditional centralized powerhouses like Microsoft and Amazon now look to be taking their domination to the decentralized world
The cryptocurrency industry attracts talent from all strides of life. Anyone with financial expertise may have a slight advantage to find a job in this booming sector.
Various Wall Street bankers are paying a lot of attention to Bitcoin and altcoins as well. The story of Chris Matta is a rather intriguing one, as he plans to open an entirely new chapter in his career.
Despite earning a high-profile promotion at Goldman Sachs, Chris Matta wasnt satisfied with the way things were going. Just two days after being promoted in December 2017, he decided to leave the firm altogether.
Moving up the ranks to vice-president is a major milestone, but for Matta, it was also a troubling sign. Thanks to Bitcoins bullish run in the same period, a tough decision had to be made in quick succession.
At the time, Chris Matta was working with two former colleagues on a new cryptocurrency hedge fund. Taking advantage of the rising interest in Bitcoin is an opportunity one simply doesnt pass up.
Even so, jumping ship to this uncertain industry with its volatile nature is not a decision most people will envy. For Matta, it was a calculated risk, according to his recent discussion on CNBC.
It is also a strong indication how cryptocurrencies continue to attract talent. Not just people without a job, but even those with a steady job are keeping a close eye on this growing industry.
If individuals such as Chris Matta can be convinced to jump ship, the future will get very interesting. It is very likely cryptocurrency will become to finance what Wall Street was so many decades ago.
With the departure finalized, Chris Matta began setting up Crescent Crypto. This new hedge fund, run by himself and two co-creators, will solely focus on cryptocurrencies.
All of the experience gained through his Goldman Sachs stint can be put to good use. It is an interesting example of how Wall Street is a ...
One of the most influential people in blockchain is close to unveiling her next move.
This week the two popular Bitcoin Cash social media applications, Memo and Blockpress have rolled out a bunch of new features on each platform. Now users on both platforms can upload pictures, video, and even torrent magnets found on the Pirate Bay.
So far over the past couple of weeks, Bitcoin Cash (BCH) supporters have been utilizing two specific BCH-powered social media platforms Blockpress and Memo. The Memo application arrived on the scene first during the second week of April offering BCH users the ability to write 77 character-long phrases using an on-chain method called an OP_Return transaction. Every action on Memo utilizes a transaction and an extremely small fraction of BCH and over the past few weeks; Memo has added a bunch of new features....
Steve Chiavarone, a portfolio manager at Federated Investors, a US-based investment firm that oversees $364 billion in customer assets, stated that blockchain technology will drive the fourth industrial revolution, echoing the stance of many large-scale investors and politicians, including Seoul mayor Park Won-soon. When you think about it from an enterprise perspective, it has the Continued
The post Big Banks are Investing Heavily in Blockchain and Crypto: $364 Billion Investment Firm appeared first on CCN
Cryptocurrency is an intriguing yet confusing industry. Every time positive momentum takes place, something negative happens to counter it.
Despite this volatile nature of Bitcoin and altcoins, Linxus Management CEO Mark Harrington remains bullish. In a recent interview, the multi-million dollar hedge fund manager stated how now is the time to lock in ones cryptocurrency investments.
Most people know all too well how price fluctuations work. It is the inherent nature of any financial product or service. Price stability is an alien concept that is very hard to come by. Even the so-called stablecoins tend to fluctuate ever so slightly. However, they maintain their pegged value most of the time without any real problems.
In the world of Bitcoin and altcoins, the situation is very different. Price volatility occurs every single day. Money can be earned and lost in the blink of an eye. One of the golden rules in cryptocurrency trading is how not to let ones emotions guide the trading behavior. Making impulsive decisions can lead to catastrophic outcomes. It is part of the reason why this industry remains somewhat off-limits to most everyday consumers.
Convincing those people to pay attention to cryptocurrency is not easy. Newly created investment vehicles, such as futures contracts, may make this industry more accessible. Circle Invest is also an interesting creation in this regard. According to hedge fund manager Mark Harrington, now is the time to make strategic investments in various cryptocurrencies. It is pertinent speculators never put all of their eggs in the same basket.
Mark Harrington recently told The Cryptograph how the cryptocurrency market is expected to surge in value in the near future. That is a very bullish outlook. Harrington acknowledges some projects are inflated, but overall growth will lead to a $1tn market cap in late 2018. Combined with ETFs and qualified custodian accounts, the...
Blockchain will help drive this next industrial revolution, says Federated Investors VP Steve Chiavarone
At ConsenSys' Ethereal Summit, the focus was on reaching those people that aren't already a part of the blockchain space.
While Bitmain creates new ASIC Antminers to mine any
cryptocurrency running Equihash proof of work, the affected
cryptocurrencies look at measures to prevent it. New York has a lot
of news happening this week, with the New York Stock Exchange's
parent company looking to get into bitcoin trading and Blockchain
Week kicking off with the CDX Summit. South Korea continues to be a
leader in blockchain technology, rolling out new partnerships with
neighboring countries, and building out more blockchain
Featured stories by Colin Harper, Nick Marinoff and Aaron van Wirdum.
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Bitmain announced, via Twitter, the release of its new Antminer Z9 mini, an ASIC miner capable of mining any cryptocurrency running the Equihash proof-of-work (PoW) algorithm. This includes, most notably, Zcash, which is a decentralized and open-source cryptocurrency designed to offer users complete privacy in transactions. Zcash has always used the Equihash PoW mining algorithm to prevent the progress of Zcash ASIC miners and has predominantly been mined by general-purpose GPU chips.
The development of ASIC hardware is causing some cryptocurrencies to change their proof-of-work mining algorithm. Bitcoin Gold has a hard fork coming to defeat it and Monero has already modified their mining algorithm to counter ASIC hardware.
According to analytics firm GlobalData, South Korea has become a leader in the blockchain community. Businesses like Korea Telecom are already working to determine how the blockchain can be used to lessen production expenses and generate new types of revenue. Representatives of the South Korean telephone giant have already joined with Sprint and Japans SoftBank to launch a blockchain-powered data roaming service in the coming weeks. Executives say the company has big plans to use the blockchain to power finance, IoT, smart energy and healthcare businesses.
South Korea is also attracting businesses fr...
Bitcoin and cryptocurrencies have gone mainstream ever since the market exploded last year and major television shows have been talking about cryptocurrencies on a regular basis. CBS sitcom Big Bang Theory had an entire episode last year on bitcoin where the characters search for a large amount of bitcoin they had mined in its early Continued
The Satoshi Revolution: A Revolution of Rising Expectations
Section 3: Decentralization
Chapter 8, Part 1.
Crypto: Civil Law Versus Common Law
2018 is the year in which cryptocurrency will be regulated. The questions are by whom and how? The two traditional answers have been civil law or common law. But there is a third alternative. Namely, preventive self-regulation, which can also be called simple decency. This is not a matter of law enforcement but of personal responsibility for your own behavior. It means being the adult in a room of children who are acting out.
Regulation is coming because crypto is being defined as much by its abuses as by the benefits it provides. The problems are real. And thats a problem because it provides a plausible doorway through which government can walk. The abuses to which I refer do not include drug deals or the private stashing of personal cash. Those are not the abuses of crypto; they are benefits. Cryptocurrency allows people to control their own bodies and wealth in a peaceful manner that harms no one else. That is its power and true beauty.
The abuses are the rampant number of scams and hustlers who prey on average people; predators are robbing hone...
Blockchain use cases, but also the technologies vulnerabilities, were discussed at length at the CDX Academy's Blockchain forum on Friday.
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