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The Japanese NTA (Tax Agency) has announced a new strategic policy put in place by July 15th to promote and improve the environment for people and companies to spontaneously declare their virtual currency income tax returns.
Together with the Financial Service Agency and cryptocurrency related organizations, the NTA has reportedly said a simplified tax declaration method, which would automatically calculate profits made by selling virtual currencies and tax returns, is currently underway.
The NTA also urged private companies to utilize the software which can automatically calculate profits and losses made in cryptocurrency, and encouraged them to properly pay taxes, insisting the com...
The Financial Stability Board (FSB), an international body tasked to monitor the global financial system while coordinating regulation for G20 nations, has published a new framework for monitoring cryptocurrency assets. With an announcement on Monday, the FSB published its report and revealed its standardized framework delivered to G20 finance ministers and central bank governors ahead Continued
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International investment management company, BlackRock, is reportedly mulling a move into bitcoin. Based on a Financial News London report on Monday, the NY based asset manager has now set up a working group to look into ways it could take benefit of cryptocurrencies and blockchain technology, as well as to monitor what rivals are doing in the space. Citing sources close to the issue, the article claims that the working group is constituted of distinct branches from within BlackRock, and might be looking at the chance of a bitcoin ETF. Right after the news broke, bitcoins cost rose sharply from $6, 360 to $6, 646 in just 2 hours a profit of over $280.
Even though BlackRock only acknowledged an overall investigation into blockchain when asked by Financial News, the potential move into bitcoin futures wouldnt come as a surprise. The companys Chief executive officer Larry Fink has made favorable remarks about cryptocurrency in the past, saying in October 2017 he was a big believer in bitcoin, although he too cautioned that its an indicator for money laundering. . Since that time, in Februarythe company has said it envisions a broader role for cryptocurrencies from the future, and that blockchain has guarantee despite several challenges. As mentioned by CoinDesk, international chief investment strategist Richard Turnill said at that time in a business report: We see cryptocurrencies possibly becoming more widely utilized in the future in the marketplace we think they should only be contemplated by evolves.
However for the time being we believe that they should only be considered by people who can stomach possibly finish losses. 3 trillion in assets under management, based on figures from December 2017 substantial hurdles to reach its future. . According to online resources, 3 trillion in assets under management, based on figures from December 2017. BlackRock building picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for. The leader in blockchain news, 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.
China, which is on its way to becoming a cashless society, highlights how cryptocurrencies could be used for all global payments. However, the overreaching control of the Chinese state shows why cryptocurrencies are needed to maintain the financial freedom of citizens.
Roughly two-thirds of Chinas population use WeChat to make everyday payments by scanning QR codes. Alibabas Alipay also has around 520 million users. Due to the proliferation of mobile networks across China, this reach of digital payments extends beyond the cities. Even in some rural villages, these systems are used instead of cash to pay for locally produced food.
Alibaba, which runs a major e-commerce site called Taobao, has expanded through two new offerings based in villages and rural areas. Taobao villages aim to enable villagers to sell their goods online. Rural Taobao helps those in the hardest-to-reach areas acquire bedding materials and shoes at a local delivery point.
Cryptocurrencies have long been touted as the solution to the unbanked but it has so far not delivered more than conventional solutions. However, the prevalence of mobile banking in rural areas presents a vision of what a cryptocurrency future could look like. The use of QR codes is important because they have often been used to represent crypto public addresses.
While WeChat and Alipay show the potential of a cashless society, it is important to note why cryptocurrencies would be a better alternative. One reason is that cryptocurrencies allow users to fully own their own money in a way that cannot be controlled by the state.
China is set to digitize more and more systems including train tickets and national identity cards which are used to open bank accounts. Taxis mostly work through an Uber-style app and private cars only accept mobile payments. It is getting very difficult to buy anything without having a mobile payments account which requires a Chinese bank account.
China is notorious for controlling its citizens liberties. They have recently set up a ranking system for citizens which controls their freedom based on behavior. More than nine million people have already been banned from buying plane tickets. Punishments...
Bitcoin has reclaimed the $6,600 price point, total market cap up $12 billion today rally likely triggered by news that the $6.3 trln asset management giant BlackRock is eyeing crypto
Six months after its chief executive lambasted bitcoin as an index of money laundering, BlackRock the worlds largest exchange-traded fund (ETF) provider has set up a working group to explore how to profit from the burgeoning cryptocurrency ecosystem. The Financial News reports that the $6.3 trillion asset manager has begun discussing whether to Continued
The post BlackRock, the Worlds Largest Asset Manager, is Exploring Cryptocurrencies appeared first on CCN
Global investment management company BlackRock may be mulling a move into bitcoin futures, according to a report.
Move away Antminer Z9 Mini, Bitmain is starting to sell the full Antminer Z9 that will supposedly offer 40000 Sol/s for Equihash mining at 1150W of power usage with deliveries starting at the beginning of September and priced at $3319 USD (PSU is not included). For comparison the already available Antminer Z9 Mini offered just 10000 at about 250W of power usage. On the other hand there is also the Innosilicon A9 ZMaster Equihash ASIC Miner that offers 50 Ksol/s at just 620 Watts of power usage, but at three times higher price and currently out is of stock.
Bitmain is currently showing only a rendering of the new device, not an actual photo, but it seems like two slightly longer Z9 Minis stitched together (maybe an extra chip or to per board). We already know that the chips used in the Z9 Mini are overclocking pretty well, so two Z9 Minis can easily reach 30 KSol/s at maybe about 700 Watts and three overclocked units can go for as much as 45 KSol/s with just about a Kilowatt of power usage. Considering this and the fact that the device apparently only has 7 PCI-E power connectors (6 for ASIC boards and 1 for the control board) we can easily assume that Bitmain may have achieved the high power usage with less chips that are already overclocked quite a lot. If they did do just that the price of the new more powerful units may not be justified and you should not be expecting to see a lot of headroom for improving performance like on the Minis.
After a week of stability in the $250 billion region, the crypto market has started to demonstrate solid momentum, potentially eying a breakout to the $300 billion mark, supported by a rally initiated by bitcoin and Bitcoin Cash. On July 16, the price of bitcoin, ether, Ripple, Bitcoin Cash, and EOS increased by 3 to Continued
The post Bitcoin Price Spikes to $6,600 as Crypto Market Finds Momentum appeared first on CCN
Crypto markets are currently on a roll with Bitcoin spiking over 4% in a couple of hours. This may well be tied in to the news that multi-trillion dollar asset manager, BlackRock, is taking an interest in Bitcoin and the crypto industry.
According to a report by Financial News London, citing those familiar with the situation, BlackRock is assembling a team to investigate the crypto industry. The $6.2 trillion investment giant is studying the feasibility of involvement in Bitcoin futures. As the worlds largest exchange traded fund (ETF) provider this news appears to have had an immediate impact on the markets.
The new crypto team will consist of a number of professionals from various departments within the corporation. A spokeswoman for the company did not confirm the accuracy of the report but did say that BlackRock has been looking at blockchain technology for several years.
Following skeptical comments last year when CEO Larry Fink said that cryptocurrencies were largely speculative and highlight money laundering levels, there appears to have been a change of heart. According to Bloomberg a number of high profile billionaires have put money into crypto and blockchain focused hedge funds. The worlds largest asset manager certainly has the power to move markets which appears to be what has happened over the past few hours.
Bitcoin is currently trading at $6,600 after jumping $225 in a couple of hours. It is up 4% on the day and other altcoins have tagged onto the momentum. At the time of writing every coin in the top ten was trading between 4 and 8 percent higher.
Total market capitalization is up to $266 billion which marks a rise of 4.7% on the day and trade volume has climbed from $9 to $14 billion. There has been speculation of a bullish reversal as Bitcoin trade volume has steadily climbed from 36 week lows seen over the weekend. This latest development could be the catalyst to reverse the six month bearish down trend and send cryptocurrencies back upwards for the latter half of 2018.
The post BlackRock Boosts Crypto Markets With New Interest in Bitcoin appeared first on NewsBTC.
When the indictment of Russian intelligence officers for interfering with the US election broke, the recriminations were swift. Not only had the 12 allegedly hacked the Democratic National Committee, but theyd had the temerity to do so using servers paid with cryptocurrency. When politicians and mainstream media began finger pointing, they had only one culprit to blame bitcoin.
Congressman Emanuel Cleaver II wasted no time in castigating the crypto industry for its role in the DNC hack. The fact that Russians had apparently used bitcoin to cover their tracks was of more concern than the numerous other failings that the indictment revealed, like the inability of Democrats to detect basic phishing attempts, or of DNC admins to detect the X-Agent malware that was installed. No, the biggest takeaway from all this was that bitcoin had facilitated one of the gravest nation state-orchestrated crimes in years.
A company has launched an insurance platform which allows blockchain projects to obtain business insurance quotes based on a risk assessment, including legal threats, financial exposure, cyber risk and crime #SPONSORED
ETF giant BlackRock establishes working group to examine Bitcoin futures, Financial News reports
The Financial Stability Board, an organization centered on assessing And making recommendations to the G20 on global financial systems, has introduced a framework for tracking cryptocurrency assets. It especially lists several metrics which the FSB will utilize to keep your eye on the developing crypto markets and should help to identify and mitigate risks to consumer and investor protection, market integrity, and possibly to monetary stability. . The standardized framework was printed together with a report on Monday and was submitted to the G20 nations financial ministers and main bank governors. In accordance with the document, the FSBs monitoring efforts will concentrate on crypto assets cost volatility, the size and growth of first coin offerings, cryptos wider use in obligations and institutional exposure, and also the economys volatility when compared to gold, stocks and currencies.
The FSB that is led by Bank of England governor Mark Carney- will even occasionally compile qualitative reports to collect intelligence for market confidence, the report states. The organization further lays out the reasoning behind the framework, saying: Even though the FSB believes that crypto assets dont pose a material risk to global economic equilibrium currently recognizes the need for vigilant monitoring in the light of the pace of market development. . The report also suggested that, apart from the FSB, other international regulatory organizations also are stepping up their efforts in tracking specific regions of the cryptocurrency market.
For example, International Organization of Securities Commissions, an international regulatory body made of securities watchdogs, is developing its own framework in an effort to assist member nations better examine the impacts of national and overseas ICOs on investors. In the mean time, the Basel Committee on Banking Supervision is collecting data on its member banks direct and indirect exposure to cryptocurrency in an effort to quantify the possible impact of the technology. The FSB report comes as the consequence of a G20 meeting in March of this year. As mentioned previously by CoinDesk, member nations agreed at that time that recommendations have been required over what information must be utilized to monitor the crypto distance and place July as a deadline. Mark Carney picture courtesy to the FSB. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
There has to be broad-based value to society if blockchain technology and the market it supports are to survive and prosper, argues Michael J. Casey.
SIX, the operator and owner of Switzerlands primary stock exchange, isnt opposed to offering cryptocurrency trading on its new SIX Digital Exchange. As reported by CCN earlier this month, Swiss Exchange Operator SIX announced plans to launch a fully compliant crypto assets exchange by mid-2019, dubbing it the Six Digital Exchange (SDX). The platform, which Continued
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Hong Kongs de facto central bank hopes blockchain tech will improve trade finance cost-effectiveness, speed and security
The global Financial Stability Board has published its expected framework for monitoring risk in the cryptocurrency markets.
The Reserve Bank of India (RBI), which admitted last month that it clamped down on cryptocurrencies without much discussion, has expanded on its objections, as a government panel considers a draft of regulations. The central bank instructed banks in April to close cryptocurrency accounts in the first week of July. The concerns include the currencies Continued
The post Indias Central Bank Spells Out Crypto Objections as Panel Readies Regulations appeared first on CCN
South African financial company Purple Group has confirmed the addition of two cryptocurrencies, bitcoin and ethereum, to its online trading platform. According to a representative, the decision came in response to strong demand from clients earlier this year. The move has expanded the trading options for South Africans, many of whom, according to a recent study, still believe a lot of money can be made from crypto investments.
Purple Group, a South African financial services provider listed on the JSE, has added cryptocurrencies to its online trading platform, GT247.com, allowing its users to buy bitcoin (BTC) and ethereum (ETH), local media reported. The decision came in response to strong demand from its customers. Barry Dumas, trading specialist at the group, emphasized that GT247.com allows clients to trade directly in South African rand. Your rands arent converted into dollars like some offerings out there, which can expose you to exchange risks, he told Business Day.
Purple Groups representative also noted that despite the decline in cryptocurrency trading volumes over the past months, the platform has seen serious interest mostly from retail clients since the launch of the service earlier this year. We are seeing a lot more engagement from internatio...
Local media recently reported that Bithumb, one of South Koreas most prominent exchanges, has announced plans to make a move on the Japanese and Thai markets.
In an exclusive with ZDNet Korea, Bithumb has announced that it plans to open operations in Japan and Thailand after receiving the required regulatory approval from local governments.
The exchange is currently working with the Japanese Financial Services Agency (FSA) and the Thai Securities and Exchange Commission to secure permission to operate in these markets. Bithumb has already established branches in the two countries, with Bithumb Thai currently holding 3 million Thai Baht (~$90,000 U.S. Dollars) to its name.
The Korean exchange gave ZDNet some reasoning for the move to Thailand, stating:
Thailand is active in e-commerce and pin-tec industry, and the government is showing great interest in digital currency as it promotes smart city business.
It is expected that Bithumb will open Thai operations prior to Japanese operations, with trading commencing as soon as the end of October.
Following the hack of CoinCheck in January, Japans FSA deemed that it was necessary to tighten the freedom which exchanges held, imposing stricter rules and regulatory advisories. Some of the notable new rules include a comprehensive crackdown on privacy-centric cryptocurrencies and a mandatory cold storage requirement, as the regulatory body referenced the CoinCheck debacle.
Despite harsh regulation, Bithumb is still moving forward with the Japan subsidiary, proposing to open an exchange in Japan come February 2019. The exchange will not be any ordinary platform, with the local news source noting that Bithumb plans to set up an exchange that supports the largest number of coins (cryptocurrencies) in Japan.
NewsBTC recently reported that Bithumb had fell victim to a security breach, losing millions of dollars worth of cryptocurrencies in an attack on Bithumb-owned hot wallets. Despite being met with outrage from the community, as cryptocurrency values took a three percent stumble, the exchange took the hack in stride, quickly amending the issue.
After the attack, the Korean platform divulged plans to reimburse customers affected by the hack, also claiming to have recuperated half of the funds lost in the hack, with the re...
Bitcoins corrective rally has shrunk around $6,400 on Monday
amid low trading volumes.
The leading cryptocurrency remained bid on the weekend as expected, courtesy of Thursdays strong reversal from the lows. Nevertheless, thus far, the break above $6,400 has remained elusive, probably due to anemic trading volumes.
Bitcoins total trading volume across all cryptocurrency exchanges fell to $2.92 billion on Saturday, the lowest amount since Nov 7, according to CoinMarketCap.
The drop from the trading volume probably indicates the bargain hunters arent particularly impressed by BTCs reversal from the low of $6,080 (hit on Thursday) and also puts a question mark on the BTCs capability to hold over the important support of $6,000 (psychological support).
At press time, the leading cryptocurrency is trading largely unchanged on the day around $6,360 on Bitfinex. In the mean time, the 24-hour trading volume has improved slightly to $3.5 billion, according to CoinMarketCap.
The preceding chart shows the Bollinger Bands (standard
deviation of +2,-2 on 20-day moving average) are flatlined, meaning
BTC lacks a definite bias.
A close (as per UTC) over the 20-day MA, currently situated at $6,400 would open the doors for completion of the inverse head-and-shoulders target, i.e. BTC could muster to $6,838 (inverse head-and-shoulders neckline immunity ). Nevertheless, BTC will probably have a tough time holding on to profits above 20-day MA if the trading volume stays feeble.
Interestingly, the upper Bollinger Band can be situated at $6,838, so the level will probably function as a stiff opposition in the near-term.
The relative strength index (RSI) is biased toward the bulls, so
theres scope to get a move above 20-day MA. And on the other
hand, a break below $6,240 (rising trendline support) would
complicate the matters.
Low trading volumes are complicating bitcoin price
A close (as per UTC) over the 20-day MA of $6,400 will make it possible for a rally to $6,838 (inverse head-and-shoulders neckline + top Bollinger Band).
On the downside, a break below $6,000 (Feb reduced ) would shift risk in favor of a drop to $5,755 (June 24 reduced ).
Disclosure: The author holds no cryptocurrency assets
throughout the time of writing.
Bitcoin logo cryptocurrency via Shutterstock
The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A prominent securities markets body in Thailand is preparing a blockchain-based token that will power instant clearing and settlements of corporate bonds. After researching blockchain technology for a bond registrar services platform, the Thai Bond Market Association (TBMA) has revealed its intention to create a Bond Coin, a custom token on a private blockchain between Continued
The post Bond Coin: Thailand Plans Blockchain Token for Instant Securities Settlement appeared first on CCN
Monday morning in crypto land is developing into a green one for a change as markets rebound from weekend losses. Total market capitalization has crept back over $250 billion and signals are turning bullish.
Bitcoin is up just two percent to $6,470, breaking a key resistance level at $6,450. There are positive signals for BTC as it approaches the next level of support. Ethereum has done better with a gain of 4.7% to trade at $460 at the time of writing.
Most of the altcoins are generally in the green with the five pumped by Coinbase showing solid gains. According to Coinmarketcap todays winner in the top 25 is 0x which is trading 10.5% higher. Zero-x is currently trading at $1.16, up from just over a dollar this time yesterday. On the week ZRX has climbed 16.5% from $0.97 this time last Monday, it fell to a weekly low of $0.75 on July 13 before the Coinbase announcement. Over the past month 0z has made 33% gains from $0.85 this time last month. Against BTC it is up 8% on the day to 17750 satoshis and 24% on the week from 14400 satoshis this time last week.
Decentralized exchange protocol 0x has benefitted most from the premise of a Coinbase listing. Binance is taking the majority of the trade volume at the moment with over 50%. That volume has jumped from $23 million to $45 million on the day resulting in a market cap increase to $600 million and a move up the charts to 23rd spot for ZRX.
Other altcoins performing well this morning include Binance Coin up 6%, Tezos climbing 7.8%, and Digibyte with a 18% pump. TenX is also flying at the moment with a 36% spike. VeChain is still having a nightmare losing another 6% in the last 24 hours.
Total crypto market capitalization is up 3.4% to just over $260 billion and trade volume has risen from $9 to $12 billion. A small recovery is on the way but it remains to be seen if it can be sustained throughout the week.
More on 0x can be found here: https://0xproject.com/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing one, looking for trends and possible fundamentals.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Changelly, a prominent instant exchange, has announced its partnership with Ledger, one of the leading security and infrastructure providers in the crypto industry, to bring a new user experience.
New Ledger App and Changelly
Ledger has released Ledger Live, a multi-asset complimentary wallet application that allows storing and managing cryptocurrencies in one place. Ledger Live is used for all models of Ledgers hardware wallets, including the bestseller Ledger Nano S.
The app offers the list of exchanges where users can buy or sell the cryptocurrencies. Changelly is one of the first exchanges listed on Ledger that provides users with that option as a link that redirects to the Changelly website. Being integrated into Ledger Live, Changelly will enable Ledger users to switch their cryptocurrencies in an easy manner within the Ledger Live app.
This is the only tool available on Ledger Live, so far. However, the service has ongoing negotiations about providing new exchange options for Ledger users, so more details of the collaboration are coming soon.
Benefits of partnership
For Changelly, having such a popular and secure partner as Ledger will help build strong relationship with users, and provide the users of the wallet with seamless exchange options. For Ledger, in turn, Changelly can h...
Bitcoin is solidly bid at six-week highs and could soon witness a short-term bearish-to-bullish trend change.
The cryptocurrency markets appear to be in recovery mode on Monday after a rather torrid week where most coins reached 2018 lows. Chief of the pack was EOS which sees an 8% rise to trade at well over the $7.30 level after having dropped as low as $6.50 last week. However, the increases were not Continued
The post Cryptocurrency Markets Gear into Recovery Mode as EOS Rises 8% appeared first on CCN
Bitcoin price is gaining bullish momentum above $6,300 against the US Dollar. BTC/USD may perhaps test the next major barrier near $6,450 in the near term.
Bitcoin price settled above the $6,200 support area to start an upward wave against the US Dollar. The BTC/USD pair slowly and steadily moved higher and broke a key resistance area near $6,300. The upside move was such that the price moved into a bullish zone above $6,200 and the 100 hourly simple moving average. It opened the doors for more gains and the price traded above the 23.6% Fib retracement level of the last decline from the $6,800 high to $6,081 low.
More importantly, there was a break above two important bearish trend lines near $6,310 and $6,350 on the hourly chart of the BTC/USD pair. The pair is now trading above the $6,350 level and it looks set for more gains. The next crucial resistance awaits near the $6,450 level. It also represents the 50% Fib retracement level of the last decline from the $6,800 high to $6,081 low. Should, bitcoin buyers succeed in clearing the $6,450 resistance, there could be a sharp upward move towards the $6,700 level.
Looking at the chart, there are many positive signs emerging above $6,300. If the recent bullish break is valid, the price is likely to climb further towards $6,450 and $6,550 in the near term.
Looking at the technical indicators:
Hourly MACD The MACD for BTC/USD is showing positive signs in the bullish zone.
Hourly RSI (Relative Strength Index) The RSI is placed well above the 50 level with an upward angle.
Major Support Level $6,240
Major Resistance Level $6,450
The post Bitcoin Pric...
In todays edition of Bitcoin in Brief we cover a new mobile app from Poloniex, the addition of USD fiat at Cobinhood exchange and the expansion plans of Bitmain in Israel. We also report about a triad boss who claims to have raised $750 million in a recent ICO.
Circle Internet Financial Ltd., the Goldman Sachs-backed Boston-headquartered company that acquired Poloniex earlier this year, has announced the launch of an official app for the exchange. The team behind the venue wrote on their blog: In our effort to deliver the best possible experience across all platforms, weve acquired the best-in-class Poloniex app for iOS and Android! This app will now be the only officially supported Poloniex app in the App Store and Play Store. They added that : We have big plans for this app next up is better mobile verification!
A self regulatory organization in Thailand is currently planning a custom token aimed to accelerate corporate bond settlement from the nation. The Thailand Bond Market Association said its received the green light out of Thailands Securities and Exchange Commission to develop a private blockchain that is going to be only available for the parts of the bond market, like enrolled issuers, investors, and depository organizations. Based on a news report by Bangkok Post on Monday, the TBMA stated the development process is going to be divided into three phases and will begin next month. The TBMA further explained itll first produce a blockchain based platform for sharing and listing bond info like rates of interest in a dispersed fashion.
Throughout the second stage, the platform will add new features to allow bond deposits, which can be projected to take 9 months for completion, the report stated. The TBMA signaled itll ultimately develop a bond coin at the top of the blockchain platform in the subsequent twelve month to tokenize the assets so that they may get rid and settled. Chaitat Prachuabdee, executive VP of the TBMA stated the new infrastructure is likely to improve the transparency of corporate bonds info and could possibly shorten the transaction time from currently 7 10 days to only 1 3 days.
The campaign follows preceding news that reported Thailands national stock exchange also built a blockchain platform to expand the access to capital funds for domestic startups in an attempt to boost the efficacy of Thailands equity market. However Thailand isnt the first country thats seeking to blockchain for settling securities. As previously reported by CoinDesk, Switzerlands primary stock exchange also released its plan for developing a digital asset exchange so as to tokenize and innovate traditional securities. Market indicator picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Describing itself as the "Uber of escorting," PinkDate is one of several sex industry startups launching a cryptocurrency-fueled booking app.
Cardano price is placed in a bullish zone against the US Dollar and Bitcoin. ADA/USD is likely to accelerate above the $0.1450 and $0.1500 resistances in the near term.
There was a decent support base formed above the $0.1250 level in cardano price against the US Dollar. The ADA/USD pair started a nice upside move and broke the $0.1300 and $0.1330 resistance levels. The upside move was strong as the price settled above the $0.1320 pivot level and the 100 hourly simple moving average. An intermediate low was formed at $0.1329 before the price climbed above the $0.1400 resistance.
During the upside, there was a break above a key contracting triangle with resistance near $0.1390 on the hourly chart of the ADA/USD pair. The pair traded as high as $0.1457 before correcting lower. It tested the 38.2% Fib retracement level of the last wave from the $0.1329 low to $0.1457 high. The pair remains supported on the downside near the $0.1400 level. Moreover, the 50% Fib retracement level of the last wave from the $0.1329 low to $0.1457 high at $0.1393 is also a strong support.
The chart indicates that the price is very likely to climb above the $0.1450 resistance in the near term. The next hurdle for buyers awaits near $0.1500, which could prevent gains. Overall, the current price action suggests more gains in ADA as long as the price is above $0.1400.
Hourly MACD The MACD for ADA/USD is about to move back in the bullish zone.
Hourly RSI The RSI for ADA/USD is moving higher and is positioned above the 50 level.
Major Support Level $0.1400
Major Resistance Level $0.1450
The post Cardano Price Analysis: ADA/USD B...
It could give the cryptocurrency the legitimacy it has been lacking in the eyes of traditional investors.
Bitcoin is up $250 per coin since the news broke. Blackrock is the worlds biggest asset management firm, and if the firm would get into bitcoin it would give the cryptocurrency the legitimacy it has been lacking in the eyes of traditional investorsmeaning the currency could skyrocket.
The Fourth Chamber of the Court of Appeals of Santiago has recently ruled that state-owned Banco Estado has to re-open the account of bitcoin exchange Orionx, after it seemingly illegally shut it down. As CCN covered, earlier this year Chilean banks Itau Corpbanca, Bank of Nova Scotia, and state-owned Banco Estado shut down the accounts Continued
The post Chilean Court Orders State-Owned Bank to Re-Open Bitcoin Exchange Orionxs Account appeared first on CCN
Ripple price jumped sharply against the US Dollar and Bitcoin. XRP/USD must clear the $0.4500 resistance to accelerate gains towards the $0.5000 level.
Recently, there was a sharp downside move below $0.4400 in Ripple price against the US Dollar. The XRP/USD pair traded below the $0.4200 support level, but it found support near $0.4150. A low was formed at $0.4142 and later the price started an upward move. The price gained traction and traded above the $0.4200 and $0.4400 resistance levels to move into a positive zone.
More importantly, there was a break above a key bearish trend line with resistance at $0.4400 on the hourly chart of the XRP/USD pair. The pair also settled above $0.4400 and the 100 hourly simple moving average. However, the upside move was capped by a crucial resistance near the $0.4500 level. At the moment, the price is correcting lower towards $0.4400. An initial support is near the 23.6% Fib retracement level of the last wave from the $0.4142 low to $0.4490 high. However, the most important support is near $0.4400 and the 100 hourly simple moving average.
Looking at the chart, the price has moved into a positive zone, but it has to move past $0.4500 to gain further. A push above $0.4500 could open the doors for more upsides towards the $0.5000 level. On the flip side, a break below $0.4400 may perhaps push the price towards the $0.4320 support.
Looking at the technical indicators:
Hourly MACD The MACD for XRP/USD is slightly placed in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for XRP/USD is currently above the 50 level.
Major Support Level $0.4400
Major Resistance Level $0.4500
A self-regulatory organization in Thailand is planning to create a custom token aimed to speed up corporate bond settlement in the country.
A lot of people understand the idea of investing in cryptocurrency, but what about trading? The two require different ways of thinking. For investing, it boils down to how well the technology will hold in the future. So if youre looking to save up for your retirement fund, or want profit much further in the Continued
Ethereum price is moving in a positive zone against the US Dollar and Bitcoin. ETH/USD remains in a bullish zone as long as it is above the $435 level.
There was a decent upside move from the $429 swing low in ETH price against the US Dollar. The ETH/USD pair traded higher and broke the $435 and $440 resistance levels to move into a bullish zone. The upside move was such that the price tested an important resistance area near $455. A high was formed at $454.82 before the price started a downside correction.
It traded below the 23.6% Fib retracement level of the last wave from the $429 low to $454 high. However, there are many supports on the downside near the $438 level. An initial support is near $442, which is the 50% Fib retracement level of the last wave from the $429 low to $454 high. Below this, the $440 support may provide support along with the 100 hourly simple moving average. More importantly, there is a major bullish trend line formed with support at $438 on the hourly chart of ETH/USD. Therefore, it seems like there are many supports on the downside near the $438-442 zone.
Looking at the chart, the price may perhaps correct a few more points, but it is likely to find support near $438. On the upside, a break above the $455 resistance is must for more gains. Above this, the price could accelerate towards the $475 level.
Hourly MACD The MACD has moved back in the bearish zone.
Hourly RSI The RSI is moving lower towards the 50 level.
Major Support Level $438
Major Resistance Level $454
NEO Price Key Highlights
NEO price could gain more traction on its bullish breakout if the pullback to the area of interest spurs a bounce.
Technical Indicators Signals
The 100 SMA is still below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, theres still a strong chance for the selloff to continue at this point.
However, NEO has moved past the 100 SMA dynamic inflection point to show a bit of bullish pressure. Price has yet to break past the 200 SMA dynamic inflection point to indicate stronger bullish momentum.
RSI is on the move down, though, so theres some selling pressure left. However, the oscillator also seems to be pulling up to indicate a potential return in bullish pressure.
Stochastic is also heading south to signal that sellers have the upper hand, but the oscillator is closing in on the oversold region to signal exhaustion. Turning back up could bring buyers back in and spur a bounce.
Cryptocurrencies pulled back from their earlier rallies on negative commentary and an exchange hack last week. However, the rebound is still in play and theres a good chance that buyers might keep defending near-term support zones.
For one, the industry developments have carried on despite regulatory checks related to AML and KYC requirements. A handful of altcoins have created their own independent blockchains while more companies continue to strike partnerships with crypto companies to tap into applications.
However, dollar demand and risk sentiment has also influenced NEO price action to some extent as trade-related headlines weighed on appetite for riskier assets.
The post NEO Price Watch: Small Correction from Bullish Breakout appeared first on NewsBTC.
The Russian Association of Cryptocurrencies and Blockchain has created a registry of whitelisted companies that offer crypto-related products or services. Meanwhile, the bill to regulate cryptocurrencies in Russia has been delayed.
The Russian Association of Cryptocurrencies and Blockchain (RACIB) has created a whitelist of crypto companies. The list includes firms in the field of crypto mining, investment, marketing, legal, training, and initial coin offerings (ICOs).
American Express is on the hunt for much better ways of demonstrating when transactions occur and a brand new patent filing suggests the financial services giant might be looking at blockchain as part of a possible solution. In a patent application released by the U.S. Patent and Trademark Office a week ago, American Express Travel Related Services describes utilizing a blockchain based system so as to obtain confirmation of payment, including transaction level and a retailer identifier. . The concept is aimed at adding to what AmEx calls the restricted number of choices for generating quality proof that obligations happen between retailers and their clients beyond a receipt or ticket.
AmExs patent highlights the technologys role in retaining transaction information, contract info, proof-of payment information, identification information, and/or other info as desired, with the idea being that the chain network perhaps a public one would serve as an excess level of evidence for transactions that take place on AmExs network. Consequently, the potential applications of this system are rather diverse, the company contends. American Express claims that data may be utilized to unlock a resort, leasing or shared economics property door utilizing the card to look up evidence of payment on a blockchain.
Furthermore, the system might be leveraged to present ticketless access to places to your client, and so forth. Whilst the decision on whether this blockchain system is going to be hosted on a personal, public or consortium network is up for grabs, the application does highlight how public networks might leverage the aggregate processing power of the network to improve safety. . This patent application by American Express will be the most recent in a series that were launched as early as October of last year when the same branch of the firm filed for another patent linked to customer benefits.
Fast forward to today and the firm has really begun initial trials with a custom Membership Rewards program for cardholders, leveraging Hyperledgers blockchain technology, which it partnered with last January. Payment terminal picture via Shutterstock. 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.
Bitcoin cash price made a nice upside move above $700 against the US Dollar. BCH/USD could continue to move high as long as it is above $700.
During the past two sessions, there were decent moves in bitcoin cash price above $650 against the US Dollar. The BCH/USD pair traded above the $700 barrier to move into a positive zone. More importantly, there was a break above the $710 resistance to set the pace for more gains. The price traded as high as $731 before it started a downside correction. It seems to be heading towards the 23.6% Fib retracement level of the last wave from the $662 low to $731 high at $715.
Below the mentioned Fib level, there is a key bullish trend line formed with support near $712 on the hourly chart of the BCH/USD pair. The trend line support holds a lot of importance since it is above the $710 pivot and support area. The next major support is close to the $700 handle and the 100 hourly simple moving average. It coincides with the 50% Fib retracement level of the last wave from the $662 low to $731 high.
Looking at the chart, the price remains in a positive zone as long as it is above the $700 zone. On the upside, resistances are seen near $730 and $740.
Looking at the technical indicators:
Hourly MACD The MACD for BCH/USD is slowly moving back in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for BCH/USD is declining towards the 50 level.
Major Support Level $710
Major Resistance Level $730
The post Bitcoin Cash Price Analysis: Can BCH/USD Hold Gains? appeared first on NewsBTC.
Highly-respected bitcoin developer Pieter Wuille unveiled a draft document outlining the technical makeup of bitcoin's likely next major upgrade.
Bitcoin Price Key Highlights
Bitcoin price is staying above the $6,300 area of interest to signal that bulls are putting up a good fight.
Technical Indicators Signals
The 100 SMA is starting to cross above the longer-term 200 SMA to suggest that bearish momentum is over and that the path of least resistance is to the upside. This means that the reversal could gain more traction from here, especially once the crossover is completed.
In that case, support at the ascending channel could keep holding as this lines up with an area of interest or former support and resistance level. Price could find its way back to the channel top at $7,200, which would also be above the neckline of a reversal pattern.
Bitcoin price continues to attempt to complete the inverse head and shoulders formation on this 4-hour time frame, and this is considered a potent reversal signal. The pattern would span $5,800 to $6,800 or $1,000 in height, so the resulting uptrend could be of at least the same size.
However, RSI is already closing in on the overbought zone and is showing intention to head back down. This could mean that sellers are eager to push bitcoin price south again. Similarly stochastic is starting to turn upon reaching overbought territory so bitcoin could follow suit.
Bitcoin price was off to a rallying start in July but most of these gains were returned last week on negative commentary and another exchange hack. US authorities also indicted twelve Russian officials for using cryptocurrency in interfering with the 2016 elections.
This time, the focus could remain on related headlines that could determine whether the bullish run could resume or if another set of downbeat updates could force a continuation of the earlier slide.
A chain is only as strong as its weakest link, and in a blockchain that link lies in the form of its founders. Getting nodes to achieve consensus is easy compared to the difficulty of getting humans to achieve consensus. The greatest challenge that new blockchains must solve isnt speed or scaling its governance.
There wasnt much thought given to on-chain governance when bitcoin was created; Satoshi was too busy reinventing the wheel on several other fronts. But the arrival of bitcoin spawned a wave of blockchains, and with it, the first faltering attempts at introducing a means of reaching consensus between network users, over and above that attained by validating nodes.
Dash first popularized the concept of blockchain governance, which is achieved through the use of masternodes, whose operators can vote on budget proposals. Its system provides a simple means of reaching agreement among community members who are most heavily invested in the project. Scores of subsequent crypto projects, including many that dont use masternodes, have since copied Dashs governance model. Often, theyll tack voting rights onto their token as a means of shoring up its weak use case, but not all projects are as slapdash or...
Credit card giant American Express may be looking into developing a new proof-of-payment (PoP) system based on blockchain technology.
One of South Koreas largest cryptocurrency exchanges, Bithumb, is expanding into Japan and Thailand. The exchange is working on obtaining regulatory approval from the financial regulators of both countries. The new locations are part of the exchanges global expansion plan.
Bithumb is currently working on obtaining regulatory approval from the Thai Securities and Exchange Commission (SEC), local media reported Friday. The exchange is the second largest in South Korea at the time of this writing, with a 24-hour trading volume of about $358 million, behind only the Kakao-backed Upbit with a $582 million trading volume during the same time period.
The exchange has already established a Thai subsidiary, Bithumb (Thailand) Company Limited, with registered capital of 3 millio...
LocalBitcoins trader Theresa Lynn Tetley, better known as the Bitcoin Maven, has been sentenced to 12 months and a day in prison, a $20,000 fine, and three years supervision after release for laundering bitcoin as proceeds of narcotics sales and for her role in running an illegal bitcoin-for-cash exchange, according to the U.S. Attorneys Office for Continued
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Like most coins, there is some upward pressure for Bitcoin and what a time to capitalize on. In the past week or so, we have seen the influence of $6,000 our main support line and 2018 lows. Because of these developments, odds of further gains are high and this opens the door for Bitcoin buyers to search for loading opportunities in lower time frames.
By design, cryptocurrencies are meant to exist on their own without government interventions. To make this a reality, these coins exist digitally in an often regulated environment. Aside the regurgitation of stale crypto news by mainstream media, we have seen how useful they are for struggling economies hit by hyperinflation. Bitcoin for example is in use in Zimbabwe and in Bolivia where their government issued paper monies are worthless.
These encouraging cases give a glimpse of the future where the value of any currency is determined by the community and not by a government entity working in cohorts with rogue politicians. Talking of rules and regulation and the Chilean Court of Appeal has ordered the countrys state bank Banco Estado to reopen the deposit account of OrionX. OrionX is one of Chiles cryptocurrency exchanges.
#Bitcoin may not be a financial asset or instrument, but its chart sure moves like one. Clear patterns that any chartist will recognise, esp. with a logarithmic Y-axis (linear scale, chart 2, less relevant for such big moves). In fact, recent rise less steep than in Q1 13, Q4 13 pic.twitter.com/tvTOyAGpso
Geert De Clercq (@gvdeclercq) January 4, 2018
Its along this value proposition that ADVFN CEO thinks Bitcoin is on the path of hitting $20,000 and later $2 million. According to their bright analysis, Clem Chambers of ADVFN noticed that prices of Bitcoin often expand at 26 percent per time period and this effectively makes Bitcoin a logarithmic asset that moves non-linearly. So, in his projection, within 1...
There is a crypto recovery that comes even in the face of allegations. We have seen how Tone Vays is tearing down Litecoin-TokenPay partnership while Justo is laying down his claims that EOS is actually undercutting Ethereum. Either way, both coins are in the green and setting the pace for further gains in IOTA, Stellar Lumens and Tron-which has their TVM launch in a forth night.
Lets have a look at these charts:
So according to a dApp developer, Justo, Ethereum has been systematically spamming the Ethereum network causing the prices of Gas to hit the roof. In a well researched post that is now doing rounds in Reddit, Justo said there is no coincidence between the current high through put in EOS and the clog that is taking place in Ethereum.
It's now clear EOS is behind Sybil attack on Ethereum that's why the gas price is almost 100 Gwei https://t.co/sHCAi2U7Ya
Ethereum 24/7 (@Ethereum247) July 15, 2018
It seems like the heightened activity in Ethereum is well orchestrated by EOS through proxy accounts. In his findings he found out that these accounts often distribute useless, non-functional tokens in their billions coinciding with times when there is a technical hitch at EOS. While these attacks are on and off, EOS- he alleges spend upwards of $2 million a day to execute such kind of attacks.
Despite these claims-which Dan refutes, EOS closed the week on a high. At current prices, it is up...
This interview was originally done for the Bitcoin Podcast by CCN. Check out the original interview and let us know what you think! This week, I spoke with Bridge CEO Stephen Hyduchak. I first learned about Bridge earlier this year while attending Cryptolina and have been intrigued by the concept of applying zero-knowledge proofs to Continued
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The anniversary of the blockchain split that took place on August 1, 2017 is just two weeks away. Over the past few months Bitcoin Cash (BCH) infrastructure support and development has been exponential, while BCH proponents have also seen a bunch more announcements during the second week of July.
A lot has changed since August 1, 2017, and in two weeks the Bitcoin Cash community will be celebrating the blockchain split. As of today, the BCH chain has seen over 60,000 blocks mined since the first hard fork, and since then the network has seen two more upgrades. The first upgrade changed the decentralized currencys Difficulty Adjustment Algorithm (DAA), and the second fork upgraded the block size from 8 MB to 32 MB. Further, the BCH developers re-enabled a few Satoshi OP_Codes and increased the data carrier size which added a bunch of new features to the protocol.
Financial services might be something you take for granted. Depositing, borrowing and withdrawing capital is as easy as going to your local bank branch, but there are billions of individuals worldwide with no access to something as simple as a bank account.
CNNs Philippines branch recently reported that a survey conducted by Philippines central bank (Bangko Sentral ng Pilipinas) has found that approximately 77% of Filipino adults do not own a bank account.
2017s Financial Inclusion Survey (FIS) found that 15.8 million adult Filipinos have bank accounts, while 52.8 million are unbanked, resulting in 22.6% and 77.4% figures respectively. Whereas western countries such as Canada, the U.K., and Sweden have over 98% of their eligible population banked, a far cry from the figures seen in the Philippines.
Despite organizations like the U.N. claiming to be working on the issue, for the Philippines, the issue is still as prevalent as ever. According to CNN, the 77% unbanked statistic has barely changed in the past two years, only seeing marginal increases in comparison to the first FIS report released by Bangko Sentral ng Pilipinas (BSP).
These breathtaking numbers may lead some to ask, why are there still so many individuals unbanked?
The Filipinos partaking in the survey brought attention to six reasons why obtaining a bank account was not a feasible task. Firstly, 60% claimed to not have enough capital to fund a bank account, while 21% cited no reason, maybe indicating a lack of interest towards banking. Another 18% said that they did not hold the required documents to see eye to eye with banks. The other three reasons included the high costs associated with banking services, a lack of knowledge about banking and finally, a lack of awareness.
In many developing nations, more people have access to the internet through mobile devices than people with bank accounts. This is the primary reason why many cryptocurrency proponents, experts, and entrepreneurs have brought attention to the role cryptocurrencies can play in an unbanked-majority region.
Using cryptocurrencies can be as easy as downloading an app...
The post 4,500-Year-Old Board Game Go Gets Blockchain Revamp appeared first on CCN
Decentralised Capital, an Australian advisory firm specializing in blockchain assets and asset management services, has announced a partnership with Custodian Vaults, an Australian private vaulting company, to offer insured cryptocurrency custody services to the Australasian market.
It has been announced that Decentralised Capital and Custodian Vaults are teaming up to provide insured cryptocurrency custody services in the form of what the companies are describing as Australias first insured cryptocurrency vault
According to According to Australian Fina...
Initial coin offering (ICO) promoters have been widely successful with regards to the quantity of projects they have been able to at least partially fund. On matters of quality, perhaps not so much. According to a report prepared by Satis Group Crypto Research, around 81% of the total number of initial coin offerings launched since Continued
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Crypto markets keep building momentum, with nine out of top ten cryptocurrencies by market cap in the green and Bitcoin inching towards the $6,400 mark
In the past twenty years, technology has advanced to the point that it is now a ubiquitous part of our lives. The internet provides global connections that comprise everything from social media to e-commerce. Smartphones, affordable computers, and a continual, reliable internet connection have had a transformative effect on the way we interact with the world around us.
For instance, online shopping is supplanting the in-store experience for many consumers. Forbes notes, For the first time ever, shoppers are going to the web for most of their purchases. Even the way we work is being altered by the digital age. Upwork, a popular exchange for freelance workers, predicts that freelancing will be the dominant expression of work within the next decade. Many of these independent workers are connecting with clients online, which makes their businesses a small-scale global enterprise.
At the same time, the decentralized economy is updating our expectations of technology. Much like the internet proliferated at astounding rates in the 1990s, the decentralized economy is producing new platforms and services and reorienting our relationship with technology. Propelled by blockchain, the technological underpinning of cryptocurrencies like Bitcoin, this new economy is quickly taking root.
These drastic changes underscore a dominant component of the digital age: Its inherently transactional.
Unfortunately, while the internet is great at facilitating connections, it lacks trust, and disputes frequently arise. Some of these conflicts are significant enough that they are adjudicated in court, but, in most instances, the offenses are minor enough that legal action is both inappropriate and prohibitively expensive. Therefore, the enormous opportunities afforded by the digital economy are limited by a lack of accountability.
Of course, technology can solve this problem itself. New platforms are blending the prolific digital economy with new possibilities afforded by blockchain technology to build trust and accountability in the digital economy.
JUR is a dispute resolution platform that implements blockchain technology and game theory to creates trust between parties operating in the global economy. Using a digital token, JUR offers a verified pay...
Major League Baseball (MLB) has taken a step into the blockchain and crypto world by launching its own Ethereum-based game, MLB Crypto, in partnership with blockchain dApp developer Lucid Sight, Yahoo Finance has reported. Welcome Baseball fans! Proud to be partnering with @MLB to bring True Digital Ownership to #baseball Stay tuned for more Continued
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A Venezuelan Redditor recently decided to use donations received in NANO to buy over 400 kg of food for his friends and family in the country, which is facing one of the deepest economic recessions yet. Hes now launching a movement to support others. As covered by CCN, the Venezuelan crypto enthusiast, going by Windows7733 Continued
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Espaol Heres what happened this week in Bitcoin in 99 seconds. The Bancor platform was hacked for $23.5 million in Ethereum and other tokens. The Bancor Network was taken offline until Wednesday. Bancors ICO raised roughly $153 million in 2017. French hardware wallet manufacturer, Ledger, sold in excess of 1 million units during [...]
Over the past 24 hours, the crypto market has added $8 billion to its valuation, as the price of Bitcoin Cash and Ether rose by more than 3 percent. Very Low Volume The bitcoin price came close to breaching the $6,400 level but failed to continue its corrective rally above the $6,400 region. As of Continued
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Over the past few years, the buzzwords Blockchain Technology have been tied to literally every industry under the sun. Cryptocurrencies had a wild year in 2017 and it seems during that time distributed ledger technology has made it all the way to the Blockchain 5.0 era, but theres a big problem No one reporting on these projects has tried these networks.
Back in 2009, a network was launched which produced the digital currency bitcoin and no one moved a muscle. These days cryptocurrencies are a hell of a lot more popular than those days but there are some people who have this idea that the technology behind digital currencies represents the real innovation. Youve heard it time and time again, that Blockchain Technology will revolutionize the world and every industry will be touched by this remarkable software. Supposedly, blockchains will transform finance, the clothing industry, movies, music, food, healthcare, and basically the entire supply chain, one block at a time.
SIX Group, the operator of Switzerlands largest stock exchange, aims to release a digital trading platform by mid-2019 and is open to the possibility of offering crypto trading on it
More than 80 percent of ICOs in 2017 are identified as scams, while the UK sees crypto becoming mainstream within a decade read more in our Hodlers Digest
On my last couple of articles Ive taken the discussion away from price and volume, as I wanted to focus on the underlying bitcoin infrastructure and governance model, as well as on the technology developments that will push adoption. However, it is equally important to understand how to behave during down-cycles and how to treat the
More universities are offering crypto courses, but what kind of knowledge do they provide?
It had been news which was possibly too strange for cryptos generally broken reactions. First revealed on Wednesday, the Litecoin Foundation, the nonprofit that develops the software which powers the sixth biggest cryptocurrency, purchased a stake in a very real, non crypto bank. The movement was greeted with applause and doubt, but additionally a stunned feeling of distrust from almost all sides. Was it a sign the crypto is becoming so strong itll soon overturn the rule of banks? . Surely the theory was well represented in the first reactions.
Indeed, the information had imaginations working at full speed, with a few going so far as to believe that the cryptographic industry could be on a bank buying spree. What the companies said. But while others were looking into a potentially far off future, others took a more measured look.
First, there was the information itself. Particularly, the Litecoin Foundation acquired 9.9 percent in WEG Bank AG, a small business with one office in a German city named Ottobrunn. It wasnt all the Litecoin Foundations doing either. Rather, it purchased the shares straight from a brand new partner, TokenPay, that offers blockchain tools for businesses. In May, TokenPay announced itd purchased 9.9 percentage of WEG Bank AG, in the time saying it was going to help the bank develop fintech solutions. The media release also said TokenPay had an oral agreement to deliver another, internationally renowned company into the partnership, and that it was in negotiations with another bank in Liechtenstein.
As it was Tuesday night, the entire internationally renowned partner was Litecoin Foundation, the organizations head Charlie Lee proudly announced. A TokenPay employee afterwards explained that the new partnership will assist the bank ease and accelerate transactions using blockchain, at the same time reducing transaction fees. A measured look. But a few in the area were not quite ready to fantasize. Wasnt the entire crypto point to escape the planet of banks and construct a brand new one, with no banks, no central banks, no old financial infrastructure and rules? . From this viewpoint, the information sounded unsatisfactory to some.
Others believed the news was simply overhyped. When moon? . Yet, others had their sights fixed a little more firmly on the graphs. Whilst the information sounded game changing, it did not lead to any change in litecoins price dynamics. Nonetheless, this is far cry from the cryptocurrencys price highs. Litecoin has been on the downslide since January when it soared to $331, and it seemed the partnership has done little to change that direction, something commentators were quick to point out. As the information shows, you simply cannot please everybody in crypto! Charlie Lee picture via CoinDesk archives. The leader in blockchain information, CoinDesk is a media store that strives for the highest journal...
The recent indictments of 12 Russian intelligence officers by the team of Special Counsel Robert Muller has been dominating headlines. The officers are charged with hacking the computer networks of some staffers on the Hillary Clinton campaign, people involved with the Democratic National Committee, and people involved with the Democratic Congressional Campaign Committee. Deputy Attorney
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More academic institutions in Russia are starting educational courses and even postgraduate programs in crypto and blockchain technologies. Three universities will be teaching related subjects like cryptography and digital economy during the new academic year beginning in September. Some of the courses will be conducted in English and with guest lecturers from Europe, India, and the US.
Three Russian universities have announced new courses and majors related to cryptocurrencies and crypto technologies. The educational programs will be offered with the start of the new academic year this fall. They cover a wide variety of subjects, including cryptography, blockchain and distributed ledger technologies, alternative payment systems, digital economy, accounting and management. Some of the courses will be taught in English targeting foreign students, but also Russians seeking career opportunities in the international environment of the crypto space.
The Voronezh State University (...
Chiles Court of Appeals has ruled in favor of Orionx crypto exchange, saying that the state-owned Banco Estado has to reopen the companys previously closed deposit account
Blockchain has already revolutionized a lot of different industries. Now a growing number of digital marketers are using the technology as an aide for a variety of tasks, including to see how many of their ads are actually being viewed by real people. Advertises are drawn to blockchain for a couple of different reasons. Some
The post Leading Advertisers Tap Blockchain to Crack Down on Frivolous Spending appeared first on CCN
In this weeks daily editions of Bitcoin in Brief we
reported about a couple of new exchanges, a major security breach
at Bancor, and why the Binance CEO came out against Ethereum
founder Vitalik Buterin. This weeks
most commented-on article covered the Nobel laureate
economist Joseph Stiglitz, who predicted that cryptocurrencies
will be regulated into oblivion.
On Monday we reported that the American crypto trading market got a little more competitive with a new exchange opening. HBUS, a strategic partner of Huobi, has begun accepting new user registrations by U.S. residents, supporting BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. Additionally covered, ASIC producer Bitmain has raised up to $400 million in its latest fundraising round valuing the company at $12 billion, and Binance donated $1 million to flood victims in Japan.
The mercurial rise in popularity for the ICO fund-raising model has led many industry observers and evangelists to conclude that the days of venture capital are long gone. Indeed, the market for ICOs has exploded in the past year and a half. During the first quarter of 2018, ICO funding easily outstripped the full year Continued
The post Whats Behind the Multi-Billion Dollar Venture Capital Interest in Crypto? appeared first on CCN
A much-talked-about deal between a cryptocurrency non-profit and a bank saw cheers and jeers this week, and all sorts of reactions in between.
The use of crypto donations by a Venezuelan citizen has shown cryptocurrencies are better than some fiat currencies even though they have been dismissed as too volatile. These donations also highlight the changing perception of crypto away from its murky past on the dark net.
The NANO community has donated almost $5,000 worth to a Venezuelan called Hector. After initially receiving a months worth of salary (0.5 NANO, or $1.20), further donations enabled him to buy 300 kg of food with 61 NANO ($145). The balance in the account now stands at 1,809 NANO ($4,178) which equates to almost 9,000 kg of food.
Hector is choosing to store the donations as NANO instead of his local currency, the bolvar, and has been buying food from a vendor who accepts NANO payments. This showcases how cryptocurrencies in their current state can work better than the worst performing fiat currencies. While volatility is a key issue for the crypto market, it is decreasing and will continue to reduce with an increase in liquidity.
The main issues faced in Venezuela is hyper inflation. The annual rate of inflation is 15,657% and their currency inflates by 167% monthly. Citizens have started making handbags and purses out of the paper notes in order to make some value out of them. The main cause is the governments relentless printing of money.
An analysis by JP Morgan in 2017 showed that only $6 billion had entered the crypto market when the total market cap was higher than it is today. In contrast, Venezuelas GDP is at $330 billion. If the entire economy was using one cryptocurrency, it would not just become a stable currency but there would be no hyperinflation through the printing of more money.
Mainstream media h...
The security breach of a well-funded blockchain project renewed critiques against its technology this week.
Police investigations into the infamous cryptocurrency Ponzi scheme GainBitcoin, estimated at $300 million, are fast making progress as authorities have stated they now possess crucial clues on how the fraudulent organization laundered money. Crucial Clues As reported by The Indian Express on July 13, 2018, police from the Indian state of Gujarat are actively probing Continued
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The Bank of England (BoE) has been criticized in a UK Treasury Committee during a hearing on Digital Currencies on July 4. Three senior government and banking officials denied the claim, arguing that a taskforce is underway to provide clear guidance over what crypto regulations need to be imposed.
In the hearing, Labour MP Wes Streeting praised Facebook for having to lead the way in banning crypto adverts even though it has recently reversed its position. He argued that private companies are getting on with controlling the market while regulators were falling behind. This led to a defence by all three panel members who said that the BoE is keeping up.
The MP said: There is a concern that regulators are not moving as fast and are not as frontfooted as you could and perhaps ought to be. Is it fair to say that you have been sleeping at the wheel while Facebook has been getting on with banning the advertisements in this space?
Martin Etheridge, Head of Note Operations, BoE, responded by saying it the BoE is leading on the international stage and that there will be vigilant monitoring on a global basis. David Geale, Director of Policy, FCA, recognized some positives in the work by Facebook and Google but claimed they havent been entirely effective because they are still receiving reports of people signing up through those channels.
The committee raised concerns over the daily bombardment of crypto adverts and what the regulators are doing regarding misleading adverts. Geale responded that their usual powers apply which requires adverts to be fair, clear and not misleading. However, Streeting presented an easyJet advert which he claimed had no warnings that funds may go down.
I have just been passed this advertisement from easyJets magazine. Ladies and gentlemen, give your bitcoin wings. Do you see what they did there? There is no warning that products are unregulated and no warning about prices going up and down. In 2017, we have witnessed the bitcoin rise from $1,000 to $19,000. That is a 1,800% increase; that is what they are suggesting there.
Conservative MP Charlie Elphicke raised concerns over terrorist financing and money laundering. David R...
Billionaire Steven Cohen has backed a hedge fund targeted at crypto assets and blockchain-based companies by investing in it. This supports claims made by an employee at Morgan Stanley that cryptocurrency trading will be a shot of adrenaline for hedge funds.
Cohen Private Ventures made an investment into crypto hedge and venture capital fund Autonomous Partners, according to a person familiar with the matter. The fund, owned by Steven Cohen, has previously backed companies run by the hedge funds managing director Arianna Simpson who previously worked at Facebook. It invested in Crystal Towers Capital which she co-founded in 2015.
Autonomous Partners invests in cryptocurrencies, digital assets, and blockchain-based companies. The fund focuses on products that are based around security, scalability, and privacy-enabling protocols. It was founded last year and only has two employees on its LinkedIn.
This move by Steven Cohen, which he declined to comment on, shows an increase in the support for crypto specific hedge funds that will provoke current hedge funds to adapt their models. Recently, a Morgan Stanley employee said that crypto trading will help to revive hedge funds that were on the verge of dying out a year ago.
A source told The ICO Journal:
Hedge funds were on the brink of a slow and painful death up until
about a year ago. This is a double shot of adrenaline for all of
them, or at least those that have the sack to jump into cryptos
head first, he added.
Morgan Stanley is stepping up their move into crypto trading, in competition with Goldman Sachs. More risk-adverse hedge funds and banks are waiting until there is a first mover into institutional trading before they follow suit. This is likely to lead to a snowball effect of investors getting into the crypto space.
Coinbase has already started the ball rolling with its custody offering aimed at institutional investors. It already has ten investors on board with a combined minimum total of $100 million to invest in crypto assets. The Coinbase UK CEO, Zeeshan Feroz, told...
Bitcoin price is preparing for the next move above $6,300 against the US Dollar. BTC/USD could trade higher if buyers succeed in pushing the price above $6,450.
This past week, there was a sharp downward move from well above $6,750 in bitcoin price against the US Dollar. The BTC/USD pair topped near the $6,840 level and declined below the $6,450 support area. The drop was such that the price settled below $6,450 and the 100 simple moving average (4-hours). However, buyers took a stand near the $6,075 level and prevented further slides.
A low was formed at $6,076 and the price started an upward correction. It moved a few points above the 23.6% Fib retracement level of the last decline from the $6,842 high to $6,076 low. However, the upside move was prevented by the $6,360 level. More importantly, there is a key triangle forming with resistance near $6,300 on the 4-hours chart of the BTC/USD pair. Above the triangle resistance, there is a crucial resistance near $6,440, which is near the 100 SMA. Moreover, the 50% Fib retracement level of the last decline from the $6,842 high to $6,076 low is at $6,459. Therefore, the $6,450-60 zone could act as a strong resistance.
Looking at the chart, the price is approaching a key break either above $6,300 or below $6,175. Below $6,175, the $6,000 support may be tested, followed by $5,800. On the other hand, above $6,300, the price will most likely break $6,450.
Looking at the technical indicators:
4-hours MACD The MACD for BTC/USD is slowly gaining pace in the bullish zone.
4-hours RSI (Relative Strength Index) The RSI is now above the 40 level.
Major Support Level $6,000
Major Resistance Level $6,450
Ethereum price is struggling to gain bullish momentum versus the US Dollar and Bitcoin. ETH/USD could make a bullish move as long as it is above $417.
This past week, there were continuous declines in ETH price below the $475 resistance against the US Dollar. The ETH/USD pair declined and broke the $460 and $455 support levels. It traded towards the $415 level and a low was formed at $417.37. Later, there was an upside correction and the price moved above the $430 level. Moreover, the price succeeded in breaking the 23.6% fib retracement level of the last drop from the $497 swing high to $417 low.
However, the upside move was capped by the $440-442 resistance zone. Additionally, a declining channel is preventing gains with current resistance at $439 on the 4-hours chart of ETH/USD. Above the channel resistance, the next major hurdle for buyers is near the $455-457 zone. It represents the 50% fib retracement level of the last drop from the $497 swing high to $417 low. More importantly, the 100 simple moving average (4-hours) is positioned near the $457 level. Therefore, if there is a bullish move above $439, the price is likely to face hurdles near $455-457.
The above chart indicates that the price is still in a bearish zone with a key support near $415-417. As long as ETH is trading above the $415 support zone, there are chances of a bullish break above $457 in the near term.
4-hours MACD The MACD is mostly neutral in the bullish zone.
4-hours RSI The RSI is currently flat near the 45 level.
Major Support Level $415
Major Resistance Level $457
The post Ethereum Price Weekly Analysis: Whats Next for ETH/USD? appeared first on...
Despite seeing bearish price action, with the market moving down by 10%, the past week was still rife with news about cryptocurrency exchanges.
Steven Cohen, a well-known hedge fund manager, recently made an investment into Autonomous Partners, a new hedge fund that is focused on the acquisition of cryptocurrencies and equity in blockchain-related companies.
According to Fortune, Autonomous was launched in December and is led by Arianna Simpson, a venture capitalist, and cryptocurrency proponent. The hedge fund has already secured capital in the low eight digits from investors like Coinbase CEO Brian Armstrong and prominent venture capital firms, like Union Square Ventures and Craft Ventures.
It is currently unclear how much capital Cohen allocated to Autonomous, but it is certain that this move signals the investors interest in the cryptocurrency industry.
Speaking with Fortune, Simpson made it clear that this will be a collaborative and symbiotic relationship between herself and Cohen, stating:
Ive only brought on partners that I think can be very much value-add beyond their capital.
The California-based fintech startup burst into the crypto scene in January, opening a feeless cryptocurrency application for the masses. However, upon the Robinhood Crypto release, users were quick to criticize the support of only Bitcoin and Litecoin, along with the fact that deposits and withdrawals were not supported.
Robinhoods most recent announcement indicates that they have been listening to customer concerns, announcing plans to amend the two aforementioned issues. Firstly, the financial services firm will be adding Litecoin and Bitcoin Cash to the Robinhood roster, which now mirrors the Coinbase Four.
Secondly, Robinhood stated that they are still planning on adding support for coin transfers, potentially integrating a built-in wallet into the Robinhood Crypto application.
Cryptocurrency experts have begun to acknowledge Robinhoods growing presence, with some noting that Coinbase should be wary of what Robinhood can bring to the table.
On June 13th, Coinbase unexpectedly released a statement regardin...
Bitcoin cash price is slowly recovering above $680 against the US Dollar. BCH/USD needs to gather pace above $710 to start an uptrend in the near term.
This past week, there was a sharp downward move below the $740 support in bitcoin cash price against the US Dollar. The BCH/USD pair declined below the $720 and $700 support levels. It traded close to the $650 support area and a low was formed at $662. Later, the price started an upward correction and moved above the $680 resistance. There was a break above the 23.6% Fib retracement level of the last decline from the $770 high to $662 low.
However, the price is facing a tough challenge near the $710 level. More importantly, there is a crucial bearish trend line in place with resistance at $710 on the 4-hours chart of the BCH/USD pair. The same trend line is close to the 38.2% Fib retracement level of the last decline from the $770 high to $662 low. Above the trend line resistance, the 100 simple moving average (4-hours) is positioned near $730. An intermediate resistance is at $720 and the 50% Fib retracement level. It seems like there are many hurdles formed near $710-730.
Looking at the chart, the price must gain traction above the $710 level to start a fresh upward move. If not, there is a risk of a drop back towards $660.
Looking at the technical indicators:
4-hours MACD The MACD for BCH/USD is slowly moving in the bullish zone.
4-hours RSI (Relative Strength Index) The RSI for BTC/USD is currently above the 50 level.
Major Support Level $660
Major Resistance Level $730
The post Bitcoin Cash Price Weekly Anal...
A Greek court has ruled to extradite the alleged former operator of crypto exchange BTC-e, Alexander Vinnik, to France, local news outlet CNN Greece reported Friday, July 13. The 39-year old Russian national Vinnik, also known colloquially as Mr. Bitcoin, was indicted by U.S. authorities on charges of fraud and money laundering last year, reportedly involving up to $4 billion in Bitcoin (BTC)
In an ongoing dispute between banks and cryptocurrency exchanges in Chile, an appeals court has finally ruled in favor of one crypto exchange against one of the largest banks in the country. Five major banks have also separately responded to lawsuits against them in court.
The Fourth Chamber of the Court of Appeals of Santiago has ruled in favor of cryptocurrency exchange Orionx against Banco Estado for closing its account, local media reported. The ruling, which orders the only government-owned bank in Chile to reopen the exchanges account, was published on Thursday.
The court decided that the banks action constitutes an arbitrary and illegal action, which constitutes a deprivation of the right protected by Article 19 No. 2 of the Political Constitutio...
My name is Henry Brade. I have been a Bitcoin enthusiast since 2011 and a Bitcoin entrepreneur since 2012. I have been living and breathing Bitcoin every day for the last seven years. This is a follow up to my 2016 article in which I laid out 10 good reasons to buy bitcoin then.
Since I wrote the first article, at a bitcoin price of $580, many things have changed. But some have stayed the same. In this article I lay out 10 good reasons to buy bitcoin now, based on the current fundamentals.
In 2017 we saw one of the strongest rallies in Bitcoin history and it peaked at the current all time high of approximately $19500 per bitcoin before it made the inevitable correction. In the recent months the price has dropped down as much as 70 %. More importantly the value has, once again, settled to higher levels than before the rally.
This is part of the cyclical nature of the growth of bitcoin and often these corrections provide the best buying opportunities. One of my favorite indicators is the so called Mayer multiple which is based on the relation of the current price and the 200-day average price. Right now we are well below the 200-day average price, giving us a Mayer multiple of 0.67. Generally speaking a high multiple can be an indication of a bubble and a low multiple an indication of undervaluation.This graph ends in early 2018 and at the time of writing were at the levels of late 2014 / early 2015
Many legacy systems and also other cryptocurrencies have constant reliability issues. Bank systems can go down, causing issues with online banking and payment cards. Other cryptocurrencies have had serious reliability and security issues in recent years, including Ethereum and newer ones such as EOS. They are not really reliable.
Bitcoin has proven to be extremely reliable. The last time Bitcoin had a major outage was in 2013, when the blockchain was unreliable for a few hours due to incompatible versions of the software. It was fixed swiftly and now for over 5 years Bitcoin has been operational and reliable 24/7/365.
In December 2017 Bitcoin did have an issue which was not an outage but it caused frustration for many users. Ma...
I have published a new 2018 edition of this article.
Litecoin Cash developer Tanner spoke to CCN about the recent 51% attack on the LCC network and how such attacks could be avoided in future. Litecoin Cash was created as a way to launch a refined SHA coin to offer SHA256 miners more options and to create the fairest distribution through an IFO (initial fork Continued
The post Interview: Litecoin Cash Dev on 51% Attacks and The New Hive Solution appeared first on CCN
BTC supporters were elated to discover recently that the Lightning Networks (LN) capacity had spiked by 216 percent in just one day. Some individuals suspected the Build on Bitcoin conference had sparked more LN interest. However, onlookers have found the spike was due to a single node created by the owner of Shitcoin.com. According to LN explorers, the node holds more than 49 percent of the Lightning Networks total funds.
Theres a new Lightning Network node on the block that has BTC supporters in a frenzy trying to figure out why one person has so much money on this nascent network. At the time of writing the so-called LN.SHITCOIN.COM holds 35.24 BTC or $220,000 USD. The node is operated by Andreas Brekken, the owner of Shitcoin.com who has detailed he plans on doing a review of the Lightning Network....
Crypto markets hold steady with slight gains since yesterdays upswing, despite U.S. govts crypto-involving indictment
Pan-African financial services giant Old Mutual has released the 2018 Savings and Investment Monitor survey for South Africa. The report indicates that 38% of the residents and citizens of Africas second-biggest economy who were already aware of the existence of digital assets wished they had put their money in cryptocurrencies. South Africans also expressed positive Continued
The post 38% of South Africans Wish They Had Invested in Cryptocurrencies: Survey appeared first on CCN
From electricity, radio and the internet to crypto. How blockchain became the latest influential technology
The BTC markets are currently attempting to establish a higher low above $6000 after failing to break above resistance at $6800 at the end of June, whilst BCH appears to have bounced off the critical support area of $600 $650 for the second time in 2018. In recent altcoin market action, Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX) have produced gains of roughly between 10% and 20% after Coinbase confirmed on the 14th of June that it is currently exploring listing said markets.
Since gaining 18% from the 29th of June low of approximately $5800 to the local high of roughly $6840 on the 7th of July, the BTC markets have retraced by over 8% during the last seven days with current prices hovering at approximately $6250.
U.S., Switzerland and Singapore ranked as top most favorable countries for running an ICO
Christopher Matta, a former vice president of investment management division at Goldman Sachs, still maintains he would invest his mothers money in bitcoin. A callout box on the TV screen noted Matta believes a return to $15,000 for bitcoin is attainable. Now the co-founder of Crescent Crypto Asset Management, told CNBCs Fast Money in June that Continued
The post Bitcoin Price Could Hit $15,000 This Year: Fmr. Goldman Sachs Exec. appeared first on CCN
Yesterday, the US Department of Justice indicted another
12 mystery Russians, said to be military intelligence agents who,
according to the US Establishment, had somehow attempted to influence the 2016 US
presidential election, which supposedly helped Donald Trump to
defeat Hillary Clinton or so the conspiracy theory
The rap sheet is impressive: DOJ charges range from identity fraud to money laundering conspiracy, however there is no chance that any of the named persons in this indictment will ever see the inside of a US court room (and so the DOJ risks nothing by inventing yet another impressive-sounding Russian bot plot). Charges are as follows:
Coinbase has recently announced that it was exploring the addition of five altcoins, which led to widespread speculation and discussion about the topic.
Coinbases announcement regarding the five altcoins quickly hit headlines in the cryptosphere, with CNBC taking a unique stance on the statement. Brian Kelly, CNBCs in-house crypto expert and baller, recently made an appearance on the Fast Money segment to give his opinions on each of the five cryptocurrencies singled out by the Coinbase statement.
CNBC's Fast Money (@CNBCFastMoney) July 13, 2018
Firstly, Kelly stated that Cardano tokens will most likely be seen as a non-security in the eyes of the Securities and Exchange Commision (SEC), pointing out Cardanos active roadmap and its similarity to Ethereums status as a platform for other crypto assets.
Next, The CNBC analyst brought attention to 0x, a crypto that was long...
Greek court rules to extradite Alexander Vinnik to France on charges of laundering $4 bln in Bitcoin
This week Bitcoin.com reached a milestone of a whopping 2.5 million Bitcoin.com Wallets created in less than a year. Since we started our web portal weve focused on providing people with world-class resources that fit every bitcoiners needs and our simple-to-use wallet is no different.
The Bitcoin.com Wallet was launched on August 25, 2017, just a few weeks after the Bitcoin blockchain split that took place on August 1. Since then our light client that supports both Bitcoin Cash (BCH) and Bitcoin Core (BTC) has become very popular and the amount of wallets created in so little time has been thrilling to watch. We think that the popularity of our wallet is due to the fact it is so easy to use, and you can send bitcoin wherever you are in the world. Not only that but our lightning fast wallet is safe and secure while at the same time allowing individuals to hold their private keys in a non-custodial fashion....
Make sure you check out our previous edition here, now lets go over what happened in crypto this week. Also, make sure you subscribe for this weeks edition of The Bitcoin Podcast by CCN on iTunes or wherever you get your podcasts. Price Watch: Bitcoin fell nearly 8% this week after jumping above $6,800 early this week. The market Continued
The post Coinbase Additions, Enterprise Patents, and Massive Hacks: This Week in Crypto appeared first on CCN
Major crypto exchange Kraken recently released a sarcastic statement in response to the unforeseen decision of Coinbase to list five new digital currencies. As CCN reported, on July 14, Coinbase, the worlds largest crypto exchange and brokerage, announced its finalized plan to integrate Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and
The post Kraken Mocks Coinbase, Sarcastically Claims it is Listing 1,600 Cryptocurrencies appeared first on CCN
The Reserve Bank of India has justified its crypto banking ban to an industry group which has been trying to convince the central bank to ease crypto restrictions. In response, the central bank outlines key areas of concern and upholds its stance on crypto.
Indias central bank, the Reserve Bank of India (RBI), has divulged key areas of concern regarding cryptocurrency. The communication is in response to a representation submitted by the Internet and Mobile Association of India (IAMAI). The document was sent to the central bank during the Supreme Court hearing of IAMAIs petition against the crypto banking ban.
While RBIs response cannot be made public,...
Going back to the early days of Bitcoin, we look at the
contributions of Nick Szabo to smart contracts and Bit Gold.
Decentralizing gets another boost by Augur in the predictions
marketplace with the launch of their platform. Then we see a very
real world example of cryptocurrency solving a real need in
Venezuela to avoid their collapsing currency and allow people to
buy the goods they need to survive. Finally, we see a conventional
exchange, the CBOE, talking to the SEC about getting a bitcoin ETF
license, which would be a real milestone in terms of bringing
cryptocurrency even closer to the masses as an investment
Featured stories by Jimmy Aki, Colin Harper and Aaron van Wirdum
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Early cypherpunk Nick Szabo had been researching decentralized financial solutions in the mid-1990s and came to propose what he is perhaps best known for today: smart contracts. These (then-hypothetical) computer protocols could digitally facilitate, verify and enforce the negotiation or performance of a contract, ideally without the need of any third party.
The latest installment in Aaron van Wirdums Genesis Files series looks at the contributions of Szabo and recounts how he proposed solutions to some of the problems that Bitcoin would eventually solve.
Blockchain-based predictions platform Augur has opened to the general public, becoming the worlds first decentralized prediction-market platform. It was created by the Forecast Foundation, a not-for-profit corporation whose goal is to build open-source, public forecasting tools.
Prediction markets have long been dominated by the likes of Paddy Power and DraftKings, which are centrally owned, operated and regulated. This centralization causes all kinds of problems, such as restrictions for users in certain regions, higher associated costs to use and limitations on the types of markets that users could create. A key differentiator for Augur is its global and decentralized nature.
Coinbase, the worlds largest crypto exchange, brokerage, and wallet platform has announced its intention to list Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX), causing the price of tokens to surge, while bitcoin has struggled to demonstrate any major price action. The release of the statement of Coinbase was taken
The post Bitcoin Price Struggles but 0x and BAT Surge Upon Coinbase Announcement appeared first on CCN
The Satoshi Revolution: A Revolution of Rising Expectations
Section 4: State Versus Society
Chapter 9, Part 4
Does Your Money Serve the State or You?
The State, in short, subjects people, whereas Society associates them voluntarily.
Two simple litmus tests determine whether money serves the state (organized force) or whether it serves society (voluntary exchanges).
Cryptocurrency is privately issued, and no one is forced to use or to accept it. Crypto is a pure money of societya public money, not one that serves rulers and elites. Indeed, many people use it to escape the corrupt central banking system and its domination of the global economy through fiat money. Control of the economy is the basis of social control.
The state lives or dies through its ability to regulate the flow of wealth within society. This makes cryptocurrency, even in its infancy, a threat to established power that the state addresses by dominating crypto through regulation, through its own monopoly issuance, or through banning it. Each step requires law. And, except for dictatorships, law requires public justification. Even with dictatorships, public justification is usually offered in order to avoid public resistance. The state needs law to destroy crypto, which means it needs justification. If there is not a real need, then a false one must be created.
The appeal to law reveals another and more fundamental difference between state money and that of society. Namely, what is the purpose of law regarding each one?
What is the Purpose of State Law Regarding Crypto?
The alleged illegality of cr...
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