Augur REP

$10.95
Market Cap $ 120.445 MM (#53)
24h Volume $ 999.369 K
Chg. 24h: 0.08%
Algo. score 4.4/5  (#10)
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Augur News

We spent the last few months building Lake Trade - A beautiful, ZERO-FEE decentralized trading platform powered by Ethereum and 0x. We'd love the ETH community's feedback!

Hey fellow buidlers and hodlers 👋 For the past few months, we've been working around the clock on building a ZERO-FEE decentralized trading platform called Lake Trade, where you can trade directly out of your Ethereum wallet. We're super excited to finally launch it on Reddit! We've built this on Ethereum and the 0x protocol, and designed it from the ground up to be secure, fast and user-friendly. Building on 0x gives us immediate, **shared liquidity** with the 0x network, which means you can start trading today and see real volume on our platform. https://i.redd.it/2kpo1i7s3ly11.jpg ## Try Lake Trade now! [http://trade.lakeproject.co](http://trade.lakeproject.co/) ## It's not perfect, here's what to expect: * Centralized exchanges will have higher liquidity * Trade execution is slower but improving (they're getting pretty good!) * You will need to pay Ethereum gas fees (significantly less than most exchange fees) * We maintain an open order book, we do not match trades directly like centralized exchanges * Unfortunately for compliance reasons we currently do not support the US (We're working on this, but it takes time and money) Now, you might be thinking: "Not another relayer - what's so special about this one?" ## Here's what makes Lake Trade great: * **Zero-Fee Trades** \- We believe in creating things of value, not paywalls * **Millions $ in Volume** \- We have shared liquidity with the 0x network * **Trade Popular ERC-20 Tokens** \- DNT, BAT, REP, REQ, OMG and more! * **User-Friendly & Powerful** \- We built an intuitive and beautiful platform for trading ERC-20 tokens, with more to come (margin trading, derivatives) * **Portfolio features** \- So far we've implemented charts to show the allocation of your balances, with other analytics on our roadmap * **Trade From Your Wallet** \- No signups. We support Metamask, with Ledger and Trezor support soon! * **Real Customer Support** \- We ACTUALLY have customer support with live chat or email # Lake Trade is one piece of our vision - We're aiming to build Finance 2.0 **For the first time in history, we have a technology that enables us to build a globally inclusive, frictionless, and peer-to-peer financial system**: one that enables us to trade value directly with each other, all while having full custody of our assets and money. By harnessing this new technology and building the right tools, we can create markets that are more transparent, inclusive, efficient and user-centric. To get there, we need to build a decentralized financial stack. As a team, we are determined to be at the forefront of building secure, user-first products that empowers people to preserve their wealth, trade seamlessly, and do commerce globally at low cost. https://i.redd.it/7gcde5aw3ly11.jpg ## To realize this new future, we need to work collaboratively with regulators As I'm sure everyone's aware by now of EtherDelta's SEC charges. This obviously has implications for the Lake Project and our trading platform. We believe it's crucial to build a cooperative relationship with regulators, and work together to build meaningful progress and to advance adoption of cryptocurrencies. To do that, we are doing our best to be compliant with securities laws and applicable regulations. To be compliant, we're taking the following steps: 1. We have a due diligence process in place to ensure we list only utility tokens. We do **not** list any security tokens 2. We have built blacklist capabilities to prevent access to our trading platform for regions where it's illegal to trade the tokens listed on Lake Trade 3. We've put terms and conditions in place to reflect these regulatory requirements where applicable 4. We're actively talking to industry experts and legal counsel on best steps forward to be compliant ## What's Next? Automatic Investing powered by our A.I. The often overlooked piece in Finance 2.0 is wealth preservation and growth. We need tools that anyone can take advantage of, at significantly lower costs than traditional investment options today. With our team's deep expertise in data-science and AI, our next goal is to build an AI-driven investment fund **available to anyone, anywhere**. We've already made good progress on the AI, and we've begun rigorous back-testing to ensure performance. We'll be posting more updates on this as we do more comprehensive testing with our AI. If you want to stay connected, please subscribe to our mailing list on our website at [http://lakeproject.co](http://lakeproject.co/) ## Help us build a next-generation Open Financial System We're on a mission to build great products that empower people all over the world to make the right economic decisions for their needs. Lake Trade is just the beginning, and we have more ideas we're exploring. Please leave a comment with your constructive feedback and we'd be happy to work with everyone to fix any issues, build out new useful features, or help tackle other challenges in the

8 hours ago

Bitcoin Price Watch: Currency Falls to Its Lowest Point in A Year

Boy, oh boy... Where do we even begin? The father of cryptocurrency is in a terrible state. After falling to $6,200 from its recent “high” of $6,500, bitcoin’s price has taken a major turn for the worse. At the time of writing, the currency has dropped down to approximately $5,500 - its lowest point since October and November of 2017. This is roughly $1,000 down from the $6,500 price it was boasting just a few weeks ago, and that was a slump from the currency’s late September price. While there are several reasons given regarding the price drop, two specific ones stand out. The first is that very little new money is entering the marketplace. This suggests that bitcoin and cryptocurrencies have somehow lost their steam; that new investors are either uninterested or too afraid to enter the arena, and thus the trading that’s occurring is only between established investors that are likely in too deep to leave. Nick Cawley, a market analyst at Daily FX, comments: “The speed with which cryptos crashed Wednesday indicate that there is very little fresh money or buying interest in the market, and that stops were limited in size.” The second reason, however, brings bitcoin’s “baby brother” into the equation. At just over a year old, bitcoin cash emerged from a bitcoin fork that occurred in August of last year. Now, the new coin is set to undergo its own fork, which some claim is taking a nasty toll on bitcoin and the general market. Marcus Swanepoel, co-founder and CEO of the cryptocurrency trading wallet Luno, recently stated: “This drop in the bitcoin price is more than likely due to the upcoming hard fork scheduled by bitcoin cash. The bitcoin cash blockchain has been undergoing scheduled hard forks every six months to upgrade and improve the protocol. In most cases, these hard forks are uncontested with the whole community supporting them. In this case, however, consensus couldn’t be reached with two factions emerging and proposing different solutions for the upgrade.” The upcoming hard fork has allegedly placed two of the industry’s biggest names - Craig Wright and Roger Ver - in a personal war. Ver is eager to see bitcoin cash remain as it is, while Wright wants to see the fork happen. Both have consistently traded blows on YouTube and neighboring sites. Donald Bullers - North American rep for the decentralized software company Elastos - states: “It’s safe to say that bitcoin cash’s upcoming hard fork was stirring uncertainty amongst crypto investors, and forecasters across crypto and traditional markets alike have predicted a prolonged bear market heading into 2019.” Bitcoin Charts by TradingView The post Bitcoin Price Watch: Currency Falls to Its Lowest Point in A Year appeared first on NullTX.

14 hours ago

Government regulation and the future of privacy coins

In recent times, governments around the world have charted a new course for cryptocurrency regulation, and it’s one that seeks to exclude privacy coins. Moving away from the complete banning of digital currencies, these governments are tackling two core issues: protecting investors and traders, and making sure that cryptocurrencies avoid becoming breeding grounds for criminals. This trend has sparked many regulatory requirements, from anti-money laundering rules to KYCs. But as these governments intensify their regulations, we must ask ourselves what is the future of privacy-focused cryptocurrencies geared toward maintaining user privacy to the core? Anonymous Coins: Living Up to Their Names In its developmental stages, Bitcoin had earned a name as a cryptocurrency that provides complete anonymity to its users, drawing many privacy lovers to it. Today, that notion has changed completely. Though it might not be possible to trace transactions made on the Bitcoin blockchain to a specific identity, other details, including location and amount of transactions, are visible. And the fact that linking your identity to the blockchain will expose your transactions to the public ledger shows that, after all, the world’s largest and most popular cryptocurrency isn’t completely anonymous. In turn, privacy-focused coins have come to save the day. Beginning its journey in 2014 as Xcoin and later Darkcoin, Dash is one of the most popular privacy-focused coins in the cryptosphere. Its privacy feature PrivateSend, previously called Darksend relies on the CoinJoin mechanism of boxing-up transactions and making them difficult to identify participants of a particular transaction Another popular coin is Monero. Developed through the CryptoNight Proof of Work protocol, Monero has risen to be one of the best privacy coins in existence today. Transaction sources and destinations are untraceable in Monero. For example, to escape scrutiny from authorities, the WannaCry ransomware hackers reportedly converted their hoard to Monero. Additionally, after the closure of the darknet marketplace AlphaBay, authorities reported that they could not identify the amount of Monero on the platform, cementing the coin as a good place not just for privacy-oriented individuals, but as a hiding place for some criminals. Other privacy coins have sprung up and gained popularity as well, including Zcash, PIVX, Navcoin, Verge, among others. For proponents of the privacy coin, cryptocurrencies should be able to help privacy-oriented people conduct their financial transactions without prying eyes. Providing that infrastructure shouldn’t be a headache. But unfortunately for many, governments do not think so. Government Crackdown on Privacy Coins Though there has not been a comprehensive regulatory oversight on cryptocurrencies in general, many governments are devising ways of preventing criminals from using these digital currencies as their go-to financial system. These governments are also making sure that traders and investors in this space pay tax. But for privacy coins, the story is not that favorable even though many authorities haven’t turned their attention to the anon coin sector. In a written testimony in June this year, Deputy Assistant Director of Office of Investigations at the US Secret Service Robert Novy recommended that privacy-focused cryptocurrencies like Monero and Zcash should be regulated to prevent fraud. In May, Japan’s Financial Services Agency put pressure on anonymous cryptocurrencies, gingering crypto exchanges like Coincheck, a Japanese-based cryptocurrency exchange to announce its delisting of privacy coins, including the likes of Augur, Monero, Dash, and ZCash. The reason? Coins that grant a high level of anonymity might be used for money laundering activities according to the FSA. But can Privacy-Focused Coins be Stopped by Governments? Government regulation would surely hamper the growth of privacy coins, but not completely. One specific area that would be hard hit is the ability to exchange these coins for fiat or other cryptocurrencies. However, as the cryptocurrency space grows, privacy would be an integral part of this sector, and privacy coins might potentially rule that space. As Chief Marketing Officer for Dash Fernando Gutierrez puts it, There are many legitimate reasons to want privacy in the cryptocurrency space and there is the obvious consideration about privacy being a human right but then there is the huge issue of security. Having financial information public or semi-public is extremely dangerous. The only way to provide security for the average user is to allow them to keep some information private. When cryptocurrencies find their way into the mainstream and become a true internet money as many predict, privacy coins would be the order of the day for people who don’t want to have a public ledger of their everyday transactions. When the time comes, governments might have to comply themselves and find

2 days ago

Government Regulation and the Future of Privacy-Focused Cryptocurrencies

In recent times, governments around the world have charted a new course for cryptocurrency regulation, and it’s one that seeks to exclude privacy-focused cryptocurrency. Moving away from the complete banning of digital currencies, these governments are tackling two core issues: protecting investors and traders, and making sure that cryptocurrencies avoid becoming breeding grounds for criminals. This trend has sparked many regulatory requirements, from anti-money laundering rules to KYCs. But as these governments intensify their regulations, we must ask ourselves what is the future of privacy-focused cryptocurrencies geared toward maintaining user privacy to the core? Anonymous Coins: Living Up to Their Names In its developmental stages, Bitcoin had earned a name as a cryptocurrency that provides complete anonymity to its users, drawing many privacy lovers to it. Today, that notion has changed completely. Though it might not be possible to trace transactions made on the Bitcoin blockchain to a specific identity, other details, including location and amount of transactions, are visible. And the fact that linking your identity to the blockchain will expose your transactions to the public ledger shows that, after all, the world’s largest and most popular cryptocurrency isn’t completely anonymous. In turn, privacy coins have come to save the day. Beginning its journey in 2014 as Xcoin and later Darkcoin, Dash is one of the most popular privacy-focused coins in the cryptosphere. Its privacy feature PrivateSend, previously called Darksend relies on the CoinJoin mechanism of boxing-up transactions and making them difficult to identify participants of a particular transaction Another popular privacy coin is Monero. Developed through the CryptoNight Proof of Work protocol, Monero has risen to be one of the best privacy coins in existence today. Transaction sources and destinations are untraceable in Monero. For example, to escape scrutiny from authorities, the WannaCry ransomware hackers reportedly converted their hoard to Monero. Additionally, after the closure of the darknet marketplace AlphaBay, authorities reported that they could not identify the amount of Monero on the platform, cementing the privacy coin as a good place not just for privacy-oriented individuals, but as a hiding place for some criminals. Other privacy coins have sprung up and gained popularity as well, including Zcash, PIVX, Navcoin, Verge, among others. For proponents of the privacy coin, cryptocurrencies should be able to help privacy-oriented people conduct their financial transactions without prying eyes. Providing that infrastructure shouldn’t be a headache. But unfortunately for many, governments do not think so. Government Crackdown on Privacy Coins Though there has not been a comprehensive regulatory oversight on cryptocurrencies in general, many governments are devising ways of preventing criminals from using these digital currencies as their go-to financial system. These governments are also making sure that traders and investors in this space pay tax. But for privacy coins, the story is not that favorable even though many authorities haven’t turned their attention to the anon coin sector. In a written testimony in June this year, Deputy Assistant Director of Office of Investigations at the US Secret Service Robert Novy recommended that privacy-focused cryptocurrencies like Monero and Zcash should be regulated to prevent fraud. In May, Japan’s Financial Services Agency put pressure on anonymous cryptocurrencies, gingering crypto exchanges like Coincheck, a Japanese-based cryptocurrency exchange to announce its delisting of privacy coins, including the likes of Augur, Monero, Dash, and ZCash. The reason? Coins that grant a high level of anonymity might be used for money laundering activities according to the FSA. But can Privacy-Focused Coins be Stopped by Governments? Government regulation would surely hamper the growth of privacy coins, but not completely. One specific area that would be hard hit is the ability to exchange these coins for fiat or other cryptocurrencies. However, as the cryptocurrency space grows, privacy would be an integral part of this sector, and privacy coins might potentially rule that space. As Chief Marketing Officer for Dash Fernando Gutierrez puts it, There are many legitimate reasons to want privacy in the cryptocurrency space and there is the obvious consideration about privacy being a human right but then there is the huge issue of security. Having financial information public or semi-public is extremely dangerous. The only way to provide security for the average user is to allow them to keep some information private. When cryptocurrencies find their way into the mainstream and become a true internet money as many predict, privacy coins would be the order of the day for people who don’t want to have a public ledger of their everyday transactions. When the time comes, governments might have to co

4 days ago

Augur Proves Its Worth During US Elections

 Listen Here - https://soundcloud.com/cryptodaily/augur-proves-its-worth-during-us-elections Augur is a project built on the Ethereum blockchain, facilitated by its native token, REP. By definition, Augur is a decentralised oracle and prediction market protocol, that is owned and run by the people who use it and of course, REP investors. Users of the Augur network can make predictions that in turn, have a monetary value, like a bet. This means that users can predict on political movements, cryptocurrency movements and even natural disasters. Augur is an open world full of markets which users can place bets on. What is Augur According to the Augur website: “Augur is a decentralized oracle and peer to peer protocol for prediction markets. Augur is free, public, open source software, portions of which are licensed under the General Public License (GPL) and portions of which are licensed under the Massachusetts Institute of Technology (MIT) license. Augur is a set of smart contracts written in Solidity that can be deployed to the Ethereum blockchain.” Furthermore: “Augur is a protocol, freely available for anyone to use however they please. Augur is accessible through a desktop client app, similar to interacting with an Ethereum or Bitcoin node. Users of the Augur protocol must themselves ensure that the actions they are performing are compliant with the laws in all applicable jurisdictions and must acknowledge that others’ use of the Augur protocol may not be compliant. Users of the Augur protocol do so at their own risk.” According to the Augur website, here are a few use cases for the Augur network: Political Forecasting “Turn political knowledge into predictive power by trading on the outcome of upcoming elections, potential policy decisions, and other political events.” Event Hedging “Hedge against catastrophic events like natural disasters, market crashes, and geopolitical upheaval by betting that the event will occur.” Weather Prediction “Harness the power of crowds to create a more accurate weather prediction tool for events like hurricane landfalls, heat waves, and daily temperature averages.” Company Forecasting “Companies can use Augur to guide decision making by forecasting vital information such as total product sales and project completion times.” How does it work? Using Augur is a simple process, firstly, users must select and event that they want to hedge against. In this example, we are looking at the US midterm elections, so let’s stick with that. Within the event, users can then bet on a specific market, or can create their own, so, in this instance, a market may include something like ‘democrats or republicans to take the house in US midterms’. Now, other investors can trade on the outcome of the market, they can back whichever outcome they want to bet for, so again in this example, an investor may bet a bunch of Ethereum or REP tokens on the democrats taking the house in the US midterms. As Augur is decentralised, the final outcome must be reported before winning bets are returned, this gives all users a chance to dispute the outcome if they think it is false or unfair. Finally, those who own shares of the winning market (through the bets they have placed) will receive their payout and the contract is closed. Augur simply takes a traditional betting format, and brings it to the blockchain. Augur has been impressive throughout the elections As we have stated, Augur is in the news this week for holding it’s cool during a huge increase in activity as a result of the US midterm elections. Since Augur is built on the Ethereum network, it’s often assumed that Ethereum products are unable to handle high volumes of traffic and large scale transactions. Even so though, during the recent US election period, it’s alleged that Augur has seen an incredible $1.65 million in bets, with as much as $900,000 all coming through on the same day. According to Ethereum World News: “The decentralized prediction platform of Augur (REP) that is built on the Ethereum network, has achieved an impressive feat of handling approximately $1.65 Million in bets during the US Midterm elections that were held on the 6th of November this year. During the day of the midterm elections, the value of bets had initially reached $900,000 only to surpass the $1 Million Mark as the day came to a close. Further researching the bets made using Augur on the tracking website of Predictions.Global, we find one particular bet that asks which party will control the house after the 2018 US Midterm elections. The volume of this bet currently stands at $1.625 Million.” In terms of value, it’s not a huge amount given the sheer scale of transactions that move across various blockchains, however, it’s a huge amount for a project like Augur to have to handle. What this tells us, is two things. Scalability on the Ethereum network might not be as drastic as we think. Secondly, this proves that there’s a growing interest in cryptocurrency and w

7 days ago

FRIDAY Augur Proves Its Worth During US Elections

 Listen Here - https://soundcloud.com/cryptodaily/augur-proves-its-worth-during-us-elections Augur is a project built on the Ethereum blockchain, facilitated by its native token, REP. By definition, Augur is a decentralised oracle and prediction market protocol, that is owned and run by the people who use it and of course, REP investors. Users of the Augur network can make predictions that in turn, have a monetary value, like a bet. This means that users can predict on political movements, cryptocurrency movements and even natural disasters. Augur is an open world full of markets which users can place bets on. What is Augur According to the Augur website: “Augur is a decentralized oracle and peer to peer protocol for prediction markets. Augur is free, public, open source software, portions of which are licensed under the General Public License (GPL) and portions of which are licensed under the Massachusetts Institute of Technology (MIT) license. Augur is a set of smart contracts written in Solidity that can be deployed to the Ethereum blockchain.” Furthermore: “Augur is a protocol, freely available for anyone to use however they please. Augur is accessible through a desktop client app, similar to interacting with an Ethereum or Bitcoin node. Users of the Augur protocol must themselves ensure that the actions they are performing are compliant with the laws in all applicable jurisdictions and must acknowledge that others’ use of the Augur protocol may not be compliant. Users of the Augur protocol do so at their own risk.” According to the Augur website, here are a few use cases for the Augur network: Political Forecasting “Turn political knowledge into predictive power by trading on the outcome of upcoming elections, potential policy decisions, and other political events.” Event Hedging “Hedge against catastrophic events like natural disasters, market crashes, and geopolitical upheaval by betting that the event will occur.” Weather Prediction “Harness the power of crowds to create a more accurate weather prediction tool for events like hurricane landfalls, heat waves, and daily temperature averages.” Company Forecasting “Companies can use Augur to guide decision making by forecasting vital information such as total product sales and project completion times.” How does it work? Using Augur is a simple process, firstly, users must select and event that they want to hedge against. In this example, we are looking at the US midterm elections, so let’s stick with that. Within the event, users can then bet on a specific market, or can create their own, so, in this instance, a market may include something like ‘democrats or republicans to take the house in US midterms’. Now, other investors can trade on the outcome of the market, they can back whichever outcome they want to bet for, so again in this example, an investor may bet a bunch of Ethereum or REP tokens on the democrats taking the house in the US midterms. As Augur is decentralised, the final outcome must be reported before winning bets are returned, this gives all users a chance to dispute the outcome if they think it is false or unfair. Finally, those who own shares of the winning market (through the bets they have placed) will receive their payout and the contract is closed. Augur simply takes a traditional betting format, and brings it to the blockchain. Augur has been impressive throughout the elections As we have stated, Augur is in the news this week for holding it’s cool during a huge increase in activity as a result of the US midterm elections. Since Augur is built on the Ethereum network, it’s often assumed that Ethereum products are unable to handle high volumes of traffic and large scale transactions. Even so though, during the recent US election period, it’s alleged that Augur has seen an incredible $1.65 million in bets, with as much as $900,000 all coming through on the same day. According to Ethereum World News: “The decentralized prediction platform of Augur (REP) that is built on the Ethereum network, has achieved an impressive feat of handling approximately $1.65 Million in bets during the US Midterm elections that were held on the 6th of November this year. During the day of the midterm elections, the value of bets had initially reached $900,000 only to surpass the $1 Million Mark as the day came to a close. Further researching the bets made using Augur on the tracking website of Predictions.Global, we find one particular bet that asks which party will control the house after the 2018 US Midterm elections. The volume of this bet currently stands at $1.625 Million.” In terms of value, it’s not a huge amount given the sheer scale of transactions that move across various blockchains, however, it’s a huge amount for a project like Augur to have to handle. What this tells us, is two things. Scalability on the Ethereum network might not be as drastic as we think. Secondly, this proves that there’s a growing interest in cryptocurrency and w

7 days ago

BitcoinNews.com Daily Podcast 7th November 2018: Augur Accurately Predicts US Elections, BTCC closes, 800% Swiss Crypto Insurance

Listen to the 7 November 2018 BitcoinNews.com Daily Podcast below. On this edition of the BitcoinNews.com Daily Podcast, we discuss how Augur accurately predicted the United States elections, BTCC is shutting down its mining pool, and part of the Swiss government is recommending 800% insurance on crypto assets. Hear about how some of the governors elected in the United States are crypto friendly, the Bank of Israel says they are not launching a national crypto, and how a politician who received USD 300,000 of crypto donations likes Bitcoin. Follow the Bitcoin News Daily Podcast on Anchor, iTunes, Spotify, Google Podcasts, Stitcher, Radio Public, Pocket Casts, Overcast, Castbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world! Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Zachary, Bitcoin News The post BitcoinNews.com Daily Podcast 7th November 2018: Augur Accurately Predicts US Elections, BTCC closes, 800% Swiss Crypto Insurance appeared first on BitcoinNews.com.

7 days ago

Daily Crypto Roundup 11/6/2018

Today in the crypto space - Tezos baking could spark new opportunities in the space, Augur is hit hard by U.S. elections, PwC looks to bring clarity to stablecoins, possible Apple podcast censorship, and another Novogratz prediction. Take a further look at today’s action! On Tezos Baking And Why Crypto Staking Will Become Big Business In 2019 Notable project Tezos has seen its fair share of hype, as well as difficulties since their ICO last year. Tezos utilizes a Proof-of-Stake (PoS) consensus mechanism. This is different than the Proof-of-Work tech. (PoW) seen in Bitcoin and others. PoS allows coin holders to contribute to the network by holding said coins in a specified wallet, and “staking”. “Tezos is a project which originated in France, a country famous for its baked goods. Consequently, the Tezos coins are grouped into ‘rolls’ for the staking rights selection process, and that’s why the term ‘baking’ became a natural fit”, explains Crypto Insider. Baking could also prove to be even more eco-friendly. Crypto Insider describes that baking could be of significant interest for the coming 2019. Read on Crypto Insider U.S. Elections Push Augur’s Total Ether Bets Over $2 Million The U.S. is buzzing today with voters flocking to the polls to get their votes in. This has lead to a surge in action in the crypto world, via Augur. Augur is a platform for people to make predictions. “Augur is a decentralized oracle and peer to peer protocol for prediction markets.”, according to Augur’s website. Significant money has been staked as the public votes today for the U.S. Midterm elections. CoinDesk reports that “[t]he market for ‘Which party will control the House after 2018 U.S. Midterm Election?’ has 3,517 ether or nearly $727,000 staked on it at the time of writing, according to Predictions”. Read on CoinDesk PwC Is Advising (Not Auditing) Another Stablecoin Project Stablecoins continue to make headlines as they fight for market dominance. One main fear until this point has been Tether (USDT) solvency. Today sees PwC (Hong Kong branch for accounting and consulting), along with Loopring, diving into applicable guidelines for stablecoins. PwC’s William Gee describes the importance of added trust, and explains - “[s]0 we are asking how things would look inside a regulated context; what are the standards, protocols, best practices and how would they fit?”, reported CoinDesk. CoinDesk also reports of PwC advising crypto project Cred, which looks to develop its own “U.S. dollar-tied coin”. Read on CoinDesk Apple Removes Crypto Podcast Reportedly Ranked #4 in ‘Investing’ From U.S. iTunes Store Notable crypto figure Anthony Pompliano of Morgan Creek Digital apparently saw his popular podcast (Off the Chain) taken down from U.S. iTunes markets yesterday. Off the Chain is a fan favorite among investing related podcasts, ranking among the top 5. “Last week we released a podcast discussing the ultimate argument for Bitcoin. It exploded & ranked #4 in US investing category before mysteriously being taken down by @Apple. We had no warning. We don’t know why. They took down our podcast, but they can’t take down Bitcoin!”, Pompliano tweeted yesterday. CoinTelegraph reports that Pompliano has tried emailing Apple several times, seeing no response. Read on CoinTelegraph After ‘Taking Out’ $6,800, Bitcoin Will Hit ‘New Highs’ In 2019, Says Galaxy Digital’s Novogratz Mike Novogratz is a popular figure in the crypto space as CEO of Galaxy Digital. Novogratz stated a few bold comments yesterday, expecting Bitcoin to see or even surpass former $20k highs next year. Novogratz mentions that the barrier of $6,800 must break, which could then lead to a year’s end price of around $8.8k-$9k. He then goes on to mention 2019, saying - “By the end of the first quarter we will take out $10,000 and after that we will go back to new highs — to $20,000 or more”, as reported by Financial News (FNLondon). CoinTelegraph mentions previous speculations from Novogratz, when last month he estimated that Bitcoin wouldn’t surpass $9k this coming December. Read on CoinTelegraph The post Daily Crypto Roundup 11/6/2018 appeared first on Crypto Insider.

7 days ago

$1.6 Million in Bets Handled on the Augur (REP) Network During the US Mid Term Elections

The decentralized prediction platform of Augur (REP) that is built on the Ethereum network, has achieved an impressive feat of handling approximately $1.65 Million in bets during the US Mid Term elections that were held on the 6th of November this year. During the day of the mid-term elections, the value of bets had initially reached $900,000 only to surpass the $1 Million mark as the day came to a close. Further researching the bets made using Augur on the tracking website of Predictions.Global, we find one particular bet that asks which party will control the house after the 2018 US Midterm elections. The volume of this bet currently stands at $1.625 Million. The outcomes of this one bet can be found in the screenshot below. The above bet is one of many placed on the Decentralized Augur platform during the US Mid.term elections. Another bet with regards to the Senate currently has a volume of $25,371 in bets. About Augur The Augur prediction platform went live this July after 2 years of extensive development and testing. The Beta version had been available for over a year before the final version was launched. Augur had managed to raise $5 Million through an ICO back in 2015. The final launch of the betting platform also included a migration of the REP token from the Beta platform. The platform allows users to create and make bets on anything from elections, sports, even weather. Augur is unique in the sense that no single entity controls any bet. REP Token Value The current value of the Augur (REP) token on the Ethereum platform is $14.62. The token is down 1.26% in the last 24 hours. With a circulating supply of 11 Million, REP is available in prominent cryptocurrency exchanges such as Bithumb, Binance, Bittrex, Ethfinex, Kraken, Poloniex, just to name a few. Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post $1.6 Million in Bets Handled on the Augur (REP) Network During the US Mid Term Elections appeared first on Ethereum World News.

8 days ago

Revealed: Two Whales Made Up 75 Percent Of Augur Midterms Bet

The midterms were more carefully-watched than usual this year because it was the first time the American electorate went to the polls to express their opinion on the Trump presidency. And it proved to be an interesting test for the decentralized predictions market, Augur (REP). Augur’s surge in popularity in the immediate run-up to the midterms was due to bets on the electoral outcome. Two weeks ago, when Crypto Briefing originally looked into the increasing popularity of the platform, it was the third largest bet on the predictions platform. This week it became the largest, with roughly $1.3m worth of Ether (ETH) at stake; for perspective, the second biggest bet currently has just over half a million. That’s interesting because the platform had suffered from a marked decline in daily active users since it launched back in the summer. As Crypto Briefing has already highlighted, at one point in September there were just 38 active users. Although this doesn’t necessarily effect open bets, it suggested Augur was struggling to expand outside of its base. But what if it transpired that the big midterm Augur bet was principally made up of two whales? Whales controlled the Augur midterms A source familiar with the matter told Crypto Briefing that two whales comprised roughly three-quarters of the Augur midterms market. Over the past week, both sides slowly upped one another on the stakes. According to the source, who has asked to remain anonymous, this started out with one whale placing a 1000 Ether (ETH) bet on the Republicans to win the House. This happened Friday, November 2nd when the amount at stake was somewhere between $75,000 to $150,000. Later that same day, at approximately 16:00 EST, the other participant upped the bet with a 1,500 ETH bet on the Democratic party to win in the midterms. “In the midterm market, one whale posted a substantially large order on the Republicans that was priced above the market rate”, the source said. “The other trader was able to quickly identify the trade to take the other side.” Thus began a period of intense betting between the two parties. So much so that it made this one bet the largest one on the Augur platform. By the weekend, the amount at stake had ballooned to approximately $500,000 worth of ETH; by the start of Monday, it was closer to $800,000. As the bet began to rise in profile - and news outlets began reporting on it - the market share of the two whales began to drop. But not by that much. According to Etherscan, by the close of the bet, one of the whales made up around 41% of the Democrat-to-win stake; the other whale made up around 37% of the Republican stake. Taking out the tie-stake, the two whales controlled approximately 75% of the Augur midterms market. Nonetheless, the two whales controlled a combined value of approximately $975,000 of the Augur midterms market. What does this say about Augur? The US midterms bet caught the public’s imagination; it was the first Augur market to settle at over $1m. It also performed better than some of its centralized rivals. PredictIt, which also ran a midterm election betting market, crashed multiple times. In comparison, Augur worked without a hitch. The fact that two whales constituted such a large percentage of the US midterm market, however, comes as no surprise. Augur has long had a problem with attracting new users. Although participants can now use a community built interface - an official Augur website is in development - the high barrier to entry continues to dog decentralized betting, and will likely do so for some time to come. Augur won’t be sustainable long-term rely on two big betters. If they don’t capitalize on the publicity they received during the midterms, who can predict when (or if) the next big chance will come their way? (Interestingly, by the way, the guy who voted REP lost.) This author is invested in ETH, which is mentioned in this article. The post Revealed: Two Whales Made Up 75 Percent Of Augur Midterms Bet appeared first on Crypto Briefing.

9 days ago

What is Bitcoin backed ERC20 (WBTC)? How could it change the Bitcoin - Ethereum interaction?

TL;DR WBTC is a Bitcoin backed ERC20 token that combines the liquidity and public awareness of bitcoin with the developer ecosystem of Ethereum. WBTC could help boost the utility of Bitcoin by allowing it the be used in Dapps and decentralized exchanges The Ethereum network could benefit from now having a ‘2 token system’ where WBTC serves as the current token, and ETH serves as the network token The hype around innovations in the crypto space seems to come in waves. In 2017, we saw the rise of utility tokens and ICO’s. 2018 has seen the rise of security tokens and stable coins. Now as we head towards 2019, it looks like an innovation called ‘Wrapped Bitcoin’ (or WBTC) may start generating a lot of buzzes. What is WBTC? WBTC is a bitcoin backed ERC20 token. It takes the concept of a stable coin (a cryptocurrency that is backed to a ‘stable’ asset like the US dollar or some other fiat currency), and applies it to Bitcoin, allowing the value of the WBTC to be pegged 1-to-1 with BTC. The invention is being developed by Republican Protocol, Kyber network and crypto custodian BitGo and is set to launch in 2019. Its primary objective is to combine the liquidity and public awareness of bitcoin with the developer ecosystem of Ethereum. According to Republic Protocol CEO Taiyang Zhang, “The WBTC remains in circulation until the Bitcoin backing is withdrawn and the equivalent WBTC is burnt. This method is similar to how TUSD operates, except that WBTC has the benefit of the ease of transparency with all custodian funds being fully verifiable on-chain.” Loi Luu, Kyber networks CEO, views WBTC as a tool to help expand the usage of BTC into areas like exchanges, loans and token payments. The companies behind WBTC will be forming a Decentralized autonomous organization specifically for this project. This DAO will serve to perform on chain auditing of WBTC to make sure it is always backed at a 1-to-1 ratio with Bitcoin. Let’s explore the various use cases: Cross chain transactions One of the main features Republican Protocol is Atomic Swaps, which enable cryptocurrencies to be transacted across different Blockchains. WBTC opens the doors for atomic swaps to be used by merchants to exchange between BTC and WBTC. This essentially means being able to pay for things that are denominated in the ERC-20 token with Bitcoin, and vice versa. This innovation would boost the adoption of Bitcoin by creating utility for it across various Dapps. Furthermore, by using WBTC, it should become faster and cheaper for users to send Bitcoin than it would on the Bitcoin network, which can become quite expensive during times of high traffic. Using Bitcoin inside Dapps As hundreds of new Dapps continue to be released, it helps to be able to use a cryptocurrency that is pegged to Bitcoin to gain access to services on these Dapps. For example, a Dapp like Augur could have all predictions wagered in WBTC as opposed to ETH. Similarly, decentralized exchanges on Ethereum could have the WBTC token as the base currency that everything trades against. In both cases, it gives these applications access to the massive liquidity of Bitcoin, opening the door for larger investors to put their money in more ERC20 tokens and Dapps. ICO’s would also now be able to raise money in Bitcoin, since WBTC functions on the Ethereum network and can be incorporated into ICO smart contracts. There would be no need to choose between running a Bitcoin node, Ethereum node, or any other ERC-20 token node. Decentralized Bitcoin ETFs? The development of an ERC-20 token that is pegged to the price of Bitcoin opens up new possibilities for smart contract based investment vehicles. Investors could decide to purchase BTC by purchasing WBTC through a crypto fund. By holding WBTC, investors can use smart contracts to ensure things like monthly dividend payouts or customize their level of risk tolerance by automatically trading in an out (or between funds) based on their returns. Could WBTC replace ETH? One of the fascinating implications of this innovation is its potential to turn Ethereum into a ‘2 token network’. ETH has long been seen as a token used primarily for paying transaction fees, yet the popularity of Ethereum and function within ICO’s and Dapps has caused many also to perceive is as a traditional cryptocurrency. Now with the introduction of WBTC, the Ethereum network could have an official currency coin, as well as a network transaction coin. This distinction would allow both tokens to be adequately valued by the market based on what they were primarily designed for. This may result in ETH being devalued and losing its place as a top 3 cryptocurrency to WBTC. However, the increased number of transactions that WBTC would bring to the Dapp ecosystem could also result in ETH seeing a significant increase in value. In either case, the Ethereum network would benefit significantly from a Bitcoin backed ERC-20 token. Vitalik Buterin, Ethereum’s founder KYC & AML checks One

9 days ago

Cardano (ADA) Finally Breaks Downtrend To Begin A New Cycle

Chart for ADA/USD (1W) Cardano (ADA) has finally broken a historical downtrend and started a new cycle. This is a major achievement for Cardano (ADA) considering its aggressive correction left a lot of investors clueless as to what might be the future of this project. Cardano (ADA) received a lot of hype last year which soon put it in the top 10 league. However, as we have seen in the past, usually after a correction, new projects replace old projects in terms of ranking. For instance, once overhyped coins like Stratis, Factom and Augur are not so hot anymore. In fact, most new cryptocurrency investors may have not even heard of them, but there was once a time when these cryptocurrencies were a part of every altcoin investor’s portfolio. The price of a cryptocurrency is not often a true reflection of its actual value. This was also the case with Cardano (ADA). When Cardano (ADA) entered the top 10 league and it was one of the hottest investments around late 2017, debates regarding its actual value started to rise. Some investors believed Cardano (ADA) was really undervalued and others thought it was really overhyped. The number of investors or analysts who believed it was somewhere in the middle was very low. This was because Cardano (ADA) was and still is shrouded in different layers of mystery. Investors like to believe it is a wonderful project but they cannot really explain how exactly. Chart for ADA/BTC (1W) One thing is clear and that is that Cardano (ADA) derives most of its popularity and hype from two key names associated with the project: Charles Hoskinson and IOHK. Both of these names are also associated with Ethereum Classic (ETC). So, people who know enough about Charles Hoskinson or IOHK are inclined to believe that Cardano (ADA) is a great project even if they do not know much about it. I used to be one of those people. Charles and IOHK have achieved so much and they are one the major driving forces in the blockchain space. If it were not for them, we would have people like Dan Larimer and a race for useless products and upgrades just for public consumption. Charles Hoskinson and IOHK on the other hand are focused on real work and sustainable products instead of creating useless shiny products one after the other. Cardano (ADA) might have been overvalued at the top even if majority believed otherwise. However, the fact remains that is a long way from the top and is now just above its all time low, looking to begin a new cycle. There should be absolutely no doubt that Cardano (ADA) is definitely undervalued at this price and has a lot of room for growth considering everything that the team has been up to. For people who want to invest in the future, cryptocurrencies like Cardano (ADA) is one of the safest bets. Projects like Ripple (XRP) or Eos (EOS) may have a lot more room for short term gains but their future remains uncertain. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Cardano (ADA) Finally Breaks Downtrend To Begin A New Cycle appeared first on Crypto Daily™.

9 days ago

Augur Accurately Predicts 2018 US Elections

The blockchain-based prediction market Augur, whose native token REP is ranked #48 with a market cap of USD 163 million as of 7 November 2018, accurately predicted the 6 November United States elections. During the morning of the election, before any polls closed, Augur predicted a 74% chance that Democrats would take the House, and a 90% chance that Republicans would take the Senate. After President Trump’s declaration hours ago of a “Big Victory” after the Repulicans won the Senate, Augur’s predictions have now been confirmed as fact. There were USD 1.366 million of bets at stake on the ‘Which party will control the House after 2018 US Midterm Election?‘ prediction market. This represented 48.5% of the USD 2.804 million of money at stake across all of Augur’s prediction markets. Even though the House has been confirmed as a win for the Democrats, the odds for the Democrats winning sits at 97%, leaving a 3% spread that investors can easily profit on, so money continues to pour into the contract. However, the prediction market will not be closing out and disbursing funds until 10 December 2018, so users will have to wait for their profits. The Augur prediction market for the Senate has much less money at stake, just over USD 10,000, likely since pollsters agreed that it was nearly certain the Republicans would win the Senate. Thus, less money is staked on Augur prediction markets where outcomes are more certain. Based on data collected by The Block Crypto, it seems that Augur’s election predictions are a reflection of forecasts by expert pollsters like FiveThirtyEight. As FiveThirtyEight adjusted its forecast for the House during election night, the Augur prediction market followed in lockstep. The prediction markets for the 2020 United States Presidential election have already begun, with just over USD 5,000 staked on the market for whether Donald Trump will be re-elected. Currently, Augur thinks Trump only has a 36% chance. Aside from political election predictions, the biggest markets on Augur are for cryptocurrency price forecasts. USD 552,000 is staked on whether Ethereum will be USD 500 or more at the end of 2018, USD 103,000 is staked on whether Ethereum will exceed USD 1,000 at the end of 2018, USD 279,000 is staked on whether the REP token will exceed USD 32 at the end of 2018, and USD 39,000 is staked on whether Bitcoin will exceed USD 20,000 at the end of 2018. Due to the continued cryptocurrency bear market, Augur is predicting that most of these questions will verify as false. When aggregated, the Augur markets for cryptocurrency price forecasts have about USD 1 million at stake. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Augur Accurately Predicts 2018 US Elections appeared first on BitcoinNews.com.

9 days ago

Ethereum Ecosystem Continues To Swell: MetaMask Rolls Out New Features

MetaMask, the startup behind a world-renowned Ethereum client, recently announced an array of features aimed at bettering the consumer experience and bolstering the adoption levels of crypto assets. ConsenSys-backed MetaMask Rolls Out Privacy Mode During Ethereum’s earliest days, when the network will still amidst its “Frontier” phase, many users struggled with interacting with the blockchain’s smart contracts and decentralized applications (dApps), which were, simply put, a dime a dozen. Now, although the presence of dApps on the aforementioned blockchain hasn’t faded (far from in fact), innovators within the budding blockchain ecosystem have developed solutions to meet consumer concerns. One such solution to the aforementioned issue has been created by MetaMask, a ConsenSys-backed crypto firm, which has since released an Ethereum client that shares the company name. The client, one of the first applications built solely for the Ethereum ecosystem, allows for its users to store, send, and receive Ether, along with facilitating users’ interactions with the “world computer,” as the Ethereum Network has been dubbed on occasion. While MetaMask, which currently exists as a web browser add-on for Google Chrome, Opera, and Firefox, has gained boatloads of users, the piece of innovative software isn’t without its flaws. Currently, through the use of a short line of code written in JavaScript, MetaMask allows any Ethereum-related website to garner pertinent user data, such as specific addresses and Ether balances, without prior warning. As put by Bobby Dresser, who works with MetaMask’s product & operations department, “when it comes to user privacy, this behavior is less than perfect.” Although this isn’t an issue with well-respected Ethereum-focused applications and websites, like Augur, for example, malicious parties could use data it garners to “fingerprint, phish, or track” naive consumers, who may not be prepared for such an attack. Today we’re rolling out our new Privacy Mode! At first, it is opt-in, but early next week we plan to make this the new default! https://t.co/S0oqF5Ryzp — MetaMask (@metamask_io) November 6, 2018 But now, as revealed in a blog post from Dresser, issued on November 5th, users of MetaMask will now have an option to enable “privacy mode,” which will require websites to prompt users before accessing private data. This may sound like an irrelevant improvement, one that should be cast aside, but, many see this as a promising step towards the arrival of privacy-consciousness in the crypto space. Jameson Lopp, a long-time Bitcoin innovator, has been at the forefront for the fight for personal privacy and safety in the “surveillance age,” especially in regards to those affiliated with crypto. And although he may not be an overt supporter of Ethereum, his attention to detail when it comes to privacy isn’t something that should be disregarded in this nascent industry, which can be rife with bad actors, malicious players, and the like. MetaMask Hits 1.3 Million Downloads: Aims For More Adoption With Mobile Client As reported by NewsBTC previously, MetaMask recently surpassed a mammoth milestone, with the startup’s application now claiming a jaw-dropping 1.3 million downloads to its name. This news, revealed by one of the startup’s occasional status updates, indicates that Ethereum’s sphere of influence continues to swell, even amid bearish market conditions and cries for lower lows. MetaMask, most popular Ethereum wallet, has been very busy. 1. Achieves 1.3 million downloads2. Releases mobile client + dApp marketplace3. Privacy mode to prevent dApps from viewing address 4. Supporting Ledger hardware wallet Awesome work! @metamask_io @ConsenSys — Joseph Young (@iamjosephyoung) November 6, 2018 However, in spite of the aforementioned now-breached milestone, the thirst for growth from MetaMask’s 18 full-time employees has seemingly remained unquenched. Just recently, at Devcon4, the Olympics of Ethereum, so to speak, MetaMask representatives revealed that the firm is poised to launch a mobile application, which was a long time coming. This newfangled client should hopefully fill the growing gap for smartphone-based crypto applications, especially in regards to dApps and smart contracts. So watch out, MetaMask seems to be dotting the i’s and crossing the t’s in preparation for the resurgence of the Ethereum ecosystem, which may be denoted by crypto’s next bull run. Featured Image from Metamask The post Ethereum Ecosystem Continues To Swell: MetaMask Rolls Out New Features appeared first on NewsBTC.

9 days ago

The Daily: Pro-Bitcoin Governor Elected, Augur Predicts the US Midterms

Wednesday’s edition of The Daily has a distinctly political tint, coming a day after U.S. voters turned out for the midterm elections. There was plenty to excite supporters on both sides of the divide — the pro and anti-cryptocurrency divide, that is. In addition to talking politics, we take a look at the new Stellar airdrop that’s causing quite a stir. Also read: Car Dealerships and Airport Limos in Japan Begin Accepting Crypto Crowd Power Is the Midterms’ Biggest Winner It was widely predicted that the Democrats would regain control of the U.S. House of Representatives in the midterm elections, not least on decentralized prediction market Augur. The crowd-powered Ethereum application had close to $1.4 million in ETH staked on the outcome of the event, with 97 percent favoring the Democrats. For anyone interested in seeking crowd wisdom on other political events, Augur is currently calling a 36 percent chance of Donald Trump being re-elected in 2020. Colorado Gains Pro-Bitcoin Governor Jared Polis In addition to voting for the House and the Senate, U.S. citizens in 36 states cast their vote in gubernatorial elections, including Colorado. There, Bitcoin advocate and pro-tech candidate Jared Polis was elected as governor. The tech advocate and gamer earned a fond place in bitcoiners’ hearts in 2014 when he vowed to fight any attempt by the government to restrict the cryptocurrency’s growth. In another boon for bitcoin advocates, Gavin Newsom was elected governor of California yesterday. The 51-year-old Democrat was one of the first politicians to accept campaign donations in BTC back in 2014. Blockchain’s Latest Airdrop Causes a Stir BTC wallet service Blockchain.com is airdropping $125 million of Stellar’s lumens (XLM) to its users. The wallet provider recently launched a service allowing cryptocurrency developers to airdrop tokens to its 30 million users. The “free” crypto comes with a catch, though: Wallet owners will need to undergo KYC to participate. Today @blockchain.info came up with a new idea: go through a KYC process with your wallet account, potentially holding 7 years of Bitcoin transaction history, to get $25 worth of some random penny stock. Please don’t do this. If you want $25-worth of $XLM for some reason, buy it pic.twitter.com/redesYhLMG — Udi Wertheimer [#reckless] (@udiWertheimer) November 6, 2018 While there are clear benefits of distributing tokens to as wide a community as possible, not least to Stellar, the $125 million giveaway will not change the fact that XLM’s ownership is highly concentrated. Excluding the tokens held by the Stellar Development Foundation, the top 100 holders possess almost 95 percent of all XLM. Airdropping 0.47 percent of the total circulating supply of 104 billion will not alter that. “There’s nothing particularly exciting or ‘inclusive’ about a centralized token’s KYC’d airdrop,” tweeted Matt Odell. “Don’t sell your privacy for $25 ‘worth’ of XLM.” To the folks at Stellar that are struggling with the very hard problem of fairly issuing a new currency; I am delighted to inform you that a certain S. Nakamoto solved the problem many years ago with a mechanism called "Proof of Work" — nic carter (@nic__carter) November 6, 2018 Gwyneth Goes Goopy for Bitcoin Celebrity endorsement of cryptocurrency is generally welcomed by the community, but bitcoiners aren’t sure what to make of Gwyneth Paltrow shilling BTC. The fact that her pro-bitcoin article was authored by the CEO of wallet service Abra, which used the opportunity to promote its services, sat uneasily with many, with The Next Web exposing the links between Gwyneth Paltrow and Abra. Great piece with @billbarhydt on @goop today https://t.co/cBoeHJ9ts7 — Gwyneth Paltrow (@GwynethPaltrow) November 5, 2018 Many bitcoiners, however, seemed more offended that their beloved cryptocurrency was being shilled by a site that sells $30 psychic vampire repellent and $55 vaginal steamers. What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post The Daily: Pro-Bitcoin Governor Elected, Augur Predicts the US Midterms appeared first on Bitcoin News.

9 days ago

@jonathanmarcus @jbrukh @PredictionsGlbl How "Market Volume"...

@jonathanmarcus @jbrukh @PredictionsGlbl How "Market Volume" is derived: Augur Client: Multiplies any trade amount… https://t.co/hag7PU8kQO

9 days ago

@jonathanmarcus @jbrukh @PredictionsGlbl The Augur client ca...

@jonathanmarcus @jbrukh @PredictionsGlbl The Augur client calculates volume differently than how… https://t.co/N9THvcrhIU

9 days ago

US Elections Push Augur's Ether Bets Over $2 Million

Augur, a decentralized betting platform built on Ethereum, has been in a malaise due to its clunky user interface and the decline in dApp usage. This is set to change as Tuesday’s U.S. midterm elections approach and money has been pouring into the platform. Bets on “Which party will control the House after the 2018 U.S. midterm election?” already have 3,517 ETH ($727,000) staked at the time of writing. The second most popular bet after the Midterm Election guess is “Will the price of Ethereum exceed $500 at the end of 2018?” The bet has been open for a few months and currently has $523,000 staked. Current odds for the U.S. elections show that Democrats have a 66 percent chance of taking the House. In spite of all the hype surrounding the midterm election bet, Augur’s user activity remains low and the platform only 19 - 56 users per day in the month of October. (RS)

10 days ago

Seven Interesting dApps to Earn Cryptocurrency

DApps also known as decentralized applications run applications on a peer to peer network with Blockchain technology hence leading to a more decentralized manner of deployment. The code of the application is made available to everyone thanks to dApps being open source. Most of the dApps are run by cryptocurrency tokens, with a system to help users generate tokens. It’s one of the ideal ways for a beginner on cryptocurrency to earn money using their strengths without the need for complicated ways of earning such as cryptocurrency mining or cryptocurrency trading. Zerocrypted lwants to present you seven dApps which give skilled people a chance to earn cryptocurrency. Brave Image Source - itradeico Brave brings web 3.0 to the user with a decentralized web browsing experience. It is a web browser which is developed by Brendan Eich and Brian Bondy. The decentralized web browser pays in the native currency of Basic Attention Tokens (BAT) to users who opt for allowing advertisements to be viewed using the Brave browser. A user has to download Brave from their website and can earn henceforth. The amount of BAT received depends on commission made from the advertiser’s revenue. BAT is available on many exchanges and so can be converted to more popular cryptocurrencies or even fiat. Brave already boasts of more than 4 million users with an added benefit of a referral program which pays BAT equivalent of US $5 in turn for each member a user of Brave brings in. Even website owners who register their websites through the Brave browser can earn, along with content creators and influencers through tips from the decentralized web browser. Storm Play Image Source - Storm Play If you are addicted to your mobile and want to earn some extra cash from constant swipes and clicks, download Storm Play. All you have to do is test games, try products, complete specific tasks and watch videos, how easy can it get? The great part is it’s so easy to earn extra cryptocurrencies through Storm Play that even cryptocurrency beginners can hop in and earn cryptocurrency. The amount of cryptocurrency you earn depends on how many tasks you participate. As of now, the application is available on Android’s Google Store, so if you have a mobile running an Android Operating System, download the Storm Play Application and start minting cryptocurrency! Peepeth Image Source - DAPPCENTRAL.IO Peepeth is Social Media 2.0, which helps you retain your privacy, is uncensorable and helps you earn money. In other words, it has freedom for people to express themselves without thinking twice about the government coming after you and making money from quality and exciting ‘peeps’ (Peeps are Peepeth’s equivalent of Tweets on Twitter). The only drawback is the need of paying for posting a peep or following someone. However, there are some exciting incentives if you use the platform regularly. Also, you have no way of deleting what you posted as it is permanently on the Blockchain. Making money through Peepeth is ideal for cryptocurrency intermediates. To start using Peepeth, you need to use Google Chrome, Install MetaMask and Setup a New Address if you have not and so a cryptocurrency beginner will find it all too complicated in the beginning. LBRY Image Source - Lbry If you are creative and believe in working for yourself instead of companies which limit your creativity and payment, LBRY is ideal. The platform is on a blockchain which establishes the rights to the creative mind behind it. In other words, it’s the world’s first ‘digital marketplace.’ Creativity in the form of a film, song and even an ebook can help individuals earn in the native token of LBRY. The payment structure of LBRY allows a person to receive remuneration as and when somebody views content that is uploaded on the platform. Hence this allows content creators to flow with creativity and be motivated to publish interesting content. Content creators even have the option of adding a small fee if a person wants to view or make use of the material. Thus the creator has all flexibility in creating a personal monetary flow through his creativity. Sia Image Source - World Crypto Index Since most of the data is being stored on the cloud, there is bound to be a blockchain based storage system, and this is precisely what Sia does. Unlike it’s centralized storage competitors like Dropbox, Google Drive, and Dropbox, Sia helps users earn Siacoin which is the native token when people rent out storage space on their PC to the Sia system. Siacoin is quite a popular token and so can be changed into major cryptocurrencies and fiat very easily as it’s available in popular exchanges such as Binance and Poloniex. Sia is much more affordable than traditional storage providers, and so people who rent out their space are bound to gain in massively as it’s bound to be a favorite for cloud storage much sooner than expected. Augur Image Source - Finder Augur is a prediction marketplace that lets participants

10 days ago

Watch @epheph this morning at @EFDevcon in the Spectrum room...

Watch @epheph this morning at @EFDevcon in the Spectrum room discuss “Building Augur - Lessons Learned” at 10:35am!… https://t.co/RdaAv1kTDf

14 days ago

Augur Price Targets the $15 As Investors Expect More Gains

After some positive gains last week, the cryptocurrency market succumbed to bear forces over the weekend. While most of the top 100 coins are struggling to bounce back, Augur is… Continue reading "Augur Price Targets the $15 As Investors Expect More Gains"

15 days ago

Ethereum’s MetaMask Wallet Shares the Mobile App Release at DevCon

CoinSpeaker Ethereum’s MetaMask Wallet Shares the Mobile App Release at DevCon First launched in 2016, Metamask has only been accessible through browser extensions on Chrome, Brave, and Firefox and was restricted to mobile users. This meant that it worked like a bridge between normal browsers and the Ethereum blockchain. The browser extension is mainly popular amongst Ethereum and ERC-20 users due to its simple user interface and its ease to handle decentralized applications (dApps) requests. For many years, MetaMask users have been asking for a mobile client of the wallet, as the vast majority of Ethereum users have started to rely on MetaMask as the main ETH and token wallet. During this major conference, hosted by Ethereum Foundation, the founder and CEO of ConsenSys, Joseph Lublin, finally announced the launch of the mobile user interface. He also wrote at his Twitter page: “The @metamask_io mobile app was just announced at #Devcon4! Everyone’s favorite #Ethereum browser extension is coming to your phone. The team is focusing on not being ‘just a wallet’, but a portal to the world of all things #blockchain.” Metamask Mobile, lays on the industry belief that mobile phones are more secure than desktop computers due to their architectural designs. Most cryptocurrency users already have a preference for mobile wallets and this will enable users to have full control of their funds. Although, users will have to take responsibility for their private keys (or passwords). Storing that on a cloud seems now pretty insecure. MetaMask communicates with the Ethereum ledger through a system called Infura. This means that it trusts other computers to keep it up to date with the Ethereum network. Full node systems are generally preferred to systems that involve trusting middlemen like Infura. The added feature that is bundled with Metamask mobile is the dApp support. With it, users can interact with different decentralized applications that they couldn’t do. The mobile client will be able to function as a dApp browser or a “Google Play Store for dApps.” Also on MetaMask mobile, users can run various dApps such as CryptoKitties by connecting the wallet to the dApp to seamlessly process information on the Ethereum mainnet. Some dApps you can also explore are Digital art, where auctions are held and users can buy and sell unique collectibles. Also, there is, built by gamers, Blockchain arcades where gamers can use Ether and tokens to enter video game tournaments. Metamask Joining The Big dApp Company Until now, there were only several dApp browsers available on the market, including some backed by large organizations. In July, leading cryptocurrency exchange Binance, bought the Trust Wallet, a secure and intuitive mobile wallet that supports Ethereum’s ether (ETH), GoChain (GO), Wanchain (WAN), Ethereum Classic (ETC), POA Network, (POA) VeChain (VET), and TRON (TRX). Coinbase also has its own cryptocurrency wallet and dApp browser, the Coinbase Wallet that is set to also support other popular cryptocurrencies like bitcoin, bitcoin cash, and litecoin. Earlier this year, Opera introduced a mobile browser for Android devices with a built-in cryptocurrency wallet. A version of the wallet has been added to its desktop browser. In July, Metamask announced its removal from the Chrome Web Store, the reasons for which were not explained. Several hours later, it was listed again. While MetaMask was delisted, an Ethereum-based prediction market protocol Augur, which recently got under fire for speculating on death benefits, warned users to not download the MetaMask extension that was actually present in Google Chrome’s store, as it was a fake application. Even though it got listed only few hours after, there never came an explanation for this event. Ethereum’s MetaMask Wallet Shares the Mobile App Release at DevCon

15 days ago

Coincheck Resumes New Account Openings, Customers Deposits

Coincheck, the Tokyo-based cryptocurrency exchange victim of a $500 million worth theft, has resumed new account openings, customer deposits, and purchasing of some digital currencies. The operator had suspended some services following the late January incident in order to protect customers’ assets and investigate the cause of hacking. Coincheck Exchange Resumes Trading of BTC, ETC, LTC, BCH, New Accounts Exclusive for Japan Residents The theft of $500 million worth of NEM in early 2018 caused alarm in Japan, forcing the hand of the country’s financial watchdog, the Financial Services Agency (FSA), to be more demanding of cryptocurrency exchanges operating in its jurisdiction. Coincheck has improved its governance and internal control throughout the year in order to safely restart its activities, the company explained in the announcement. “In particular, we resumed JPY withdrawal in February 2018 and remitting and selling of cryptocurrencies gradually during the period from March to June 2018. And now, here we announce that Coincheck has resumed “new account openings” and “customers’ depositing and purchasing some cryptocurrencies” services today.” The cryptocurrencies made available for deposit are BTC, ETC, LTC, and BCH, which are also available for purchase. Bitcoin trading on Coincheck was never suspended and users were always able to sell any cryptocurrency on their portfolios. New account openings are only available for customers residing in Japan. The registration process includes the submission of identification documents and a KYC check, before receiving a postcard-sized letter from Japan Post instructing the account activation. Coincheck requests existing customers to generate a depositing address when reusing the depositing service. If a remittance is sent to the old deposit address, the operator will not reflect it on the user’s balance nor return it back. The operator, which was acquired by Monex Group for $33.5 million, warns customers that trading services may be temporarily suspended if the platform experiences a significant increase in the volume of transactions or sudden price fluctuations. Coincheck is yet to resume depositing and buying of ETH, XEM, LSK, XRP, and FCT, as well as leveraged transactions for new positions, its affiliate service, JPY depositing through convenience stores, JPY quick depositing (Pay-easy), Coincheck Payment, and Coincheck DENKI (electricity). The services are expected to resume once they are confirmed safe and ready to be offered, the operator added. In May 2018, the cryptocurrency exchange announced it was ordered to delist Monero (XMR), Zcash (ZEC), Dash and Augur’s Reputation (REP) in accordance with Japan’s FSA’s new policy which aims at banning cryptocurrencies that offer significant anonymity. Featured image from Shutterstock. The post Coincheck Resumes New Account Openings, Customers Deposits appeared first on NewsBTC.

17 days ago

ERC20 Tokens Fly While Ether Languishes

It is still too easy to see the cryptocurrency market has a single entity. A bull market creates a sea of green, whereas a bear drags all 2,081 tokens into the red. But this is changing. Price movements are diversifying. Even the ERC20 tokens, running off the Ethereum (ETH) network, are beginning to demonstrate independence. SANbase, a decentralized data and analytics tool provider, found price movements from three ERC20 tokens, 0x (ZRX), Maker (MKR) and Basic Attention Token (BAT), had diverged from the network’s native virtual currency, Ether. The tokens have all experienced palpable price surges since roughly the middle of September. The 0x price is up by 60% at the time of writing. Maker, the proprietary token that helps stabilize the DAI price, has nearly doubled in value (95% up) over the same timeframe. BAT meanwhile has increased by just under 50%. In comparison, the ether price has almost flatlined since the beginning of September. Following a near-uninterrupted slide since the start of May, ETH has hovered within a tight range just above the $200 mark in the past 90 days. It peaked at $240 towards the end of September, with a low at approximately $192 in mid-October. Crypto divergence from Ether Cryptocurrency prices used to be highly correlated because they were essentially influenced by the same factors. The market hemorrhaged $100bn when the SEC, America’s financial regulator, postponed its Bitcoin (BTC) ETF ruling in August; and a further $50bn when Goldman Sachs postponed its BTC trading desk. Ethereum has continued to battle longstanding problems. The platform’s core development team has yet to address its scalability limitations that have hamstrung further development. All the while facing increasing competition from rivals, including Cardano (ADA) and EOSIO (EOS). The three tokens - ZRX, MKR and BAT - have been subject to renewed investor interest over the past two months. Popular cryptocurrency exchange, Coinbase, announced in mid-October it would list 0x on its servers by the end of the week. This caused a price spike, with 0x trading at over $0.90, the highest it had been in more than two months. Maker’s sistercoin, the stablecoin DAI, was added to the decentralized predictions platform, Augur (REP) earlier this month. The American venture capital fund, Andreessen Horowitz also invested $15m into the team of developers behind the MKR project towards the end of September. BAT meanwhile mirrored ether’s price moves well into October. Rumors have been circulating that it could be listed on Coinbase. This is partly because it is an ERC20 token, which would make it easy to add from a technical perspective. ERC20 prices going their own way Although diversifying ERC20 prices from that of Ether might indicate a divergence, not everyone agrees. Mati Greenspan, the senior market analyst at eToro, argues investment decisions have rarely been swayed by the platform. He thinks that the quality of the project itself has always been the predominant factor. “If the project is good, people will invest in it regardless of which blockchain the tokens ultimately reside on,” he said. Crypto is becoming user-friendly. As it becomes integrated with the mainstream, the technical aspect will gradually slip from the public eye. Adopters want a functioning project. At an industry meet-up last week, figures from prominent projects admitted that the focus will shift away from technical discussions and decentralization debates, to utility. ERC20 prices are no longer apeing Ether. This is a sign the process has already begun. The author is invested in BTC and ETH, which are mentioned in this article. The post ERC20 Tokens Fly While Ether Languishes appeared first on Crypto Briefing.

17 days ago

#Ambrosus continues its #growth! 🚀 We have added 4 new devs ...

#Ambrosus continues its #growth! 🚀 We have added 4 new devs and a regional rep to $AMB Global Team! We are looking… https://t.co/yAqOZPIk4H

18 days ago

Augur Price Heads to $15 as Platform Usage Increases

It would appear this week is shaping up rather nicely for Augur price speculators. More specifically, there has been a pretty interesting gain for this token over the past few hours, although nothing major has materialized just yet. If this trend keeps up, the value per REP should surpass $15 in rather quick succession. Augur Price Turns Bullish Again There aren’t too many cryptocurrency markets worth keeping an eye on at this time. This is primarily because no currencies have noted any real gains over the past few days. As long as Bitcoin continues to struggle, it is evident there will not be any real noteworthy gains for altcoins either. In the case of Augur, however, it would appear things are turning around ever so slightly. A strong gain on this early Monday morning shows this currency is getting a lot of attention right now. A 5% uptrend in USD, BTC, and ETH departments shows Augur is being traded, even though its actual trading volume is not necessarily reflecting that interest. With just $2.4m in trades, Augur is far from a liquid market right now. According to Gordon Gekko, it would appear the usage of Augur continues to increase week over week. The primary reasons why dApps are struggling right now is because people lose interest shortly after the initial launch. A prediction market needs to remain relevant at all times, and it seems Augur might finally be hitting its stride in this regard. #augur usage increasing!!#ethereum #ico #betting #crypto pic.twitter.com/BZxvm7ZUvm — Gordon Gekko (@Geckochain) October 29, 2018 A similar sentiment is echoed by Victor Li. He has also noted how there is a hefty increase in the amount of ETH staked on the Augur prediction markets. Although a volume of $1.6m might not seem that impressive, it is a vast increase. Augur is not exactly the most user-friendly dApp by any means either, yet it seems to be getting more attention as of late regardless. The number of ethers being staked on #Augur predict markets has surged to 8,000 (worth $1.6M) in recent weeks, despite its clumsy UI. A solid use case of #Ethereum network and its token. We need more Dapps like #Augur. https://t.co/AGWHoFAKcF — Victor Li (@SeeDecentral) October 29, 2018 Speculators and traders are also keeping a close eye on Augur at this time. Fximperija sees a bullish trend forming for REP right now, although it remains to be seen if the $18 level can be reached in the coming hours and days. There is a very good chance such a value will be reached, although holding on to these gains will be quite challenging. #Bullish on #Augur? Break of #DoubleTop and EMA55 will lead to next potential #resistance lvl around 18. Some 42% rise in price. $REPEUR pic.twitter.com/S0uBckrusA — fximperija® (@fximperija) October 28, 2018 Based on the current indicators, REP will need to hit $15 first and foremost over the coming hours. Any small gain will be taken advantage of by speculators and traders in quick succession, which might make the Augur price trend unsustainable fairly quickly. For now, things still look pretty promising, although the momentum can easily turn around in quick succession. The post Augur Price Heads to $15 as Platform Usage Increases appeared first on NullTX.

18 days ago

Radar Relay Targets Tokenized Shorts

There’s good news for Dr. Doom—you can now make money when crypto crashes, without needing to go through Augur or a centralized exchange. Radar Relay, a decentralized exchange built on the 0x protocol, has announced the launch of a new kind of asset—short tokens, which provide a payoff if the asset behind them declines in value. The first new token will be sEth, representing a short position against Ethereum. “Creating a token that allows for such functionality is a rather complex and difficult problem,” Radar Relay said in a Medium post. “[T]he dYdX team has been hard at work to bring new types of financial products to the cryptocurrency market.” The Big (Decentralized) Short In real-life exchanges, traders establish short positions by “borrowing” an asset that they expect to lose value. For example, if you expected Elon Musk to get in trouble, you might borrow some Tesla stocks and then sell them at market price. After the price drops, you’d then buy them back, return them to the lender and pocket the difference. That’s a trickier proposition in the world of decentralized assets, where private keys are the only real form of ownership. Although traders have developed ersatz means of betting against crypto, like through Tether, the only real short contracts to date are on centralized exchanges like Kraken. How Derivative This marks the first time where short contracts have been coded into a dApp token. “When you hold a Short Token, your returns depend on the inverse price movement of the underlying Token,” according to a brief explainer. “For sETH/DAI, when the price of ETH goes down, sETH price goes up.” Each Short Token represents a 28-day contract, during which time the tokens can be traded and sold as easily as an ERC-20. For example, sETH 6/15 represents a short against Ethereum that expires in mid-June. At the end of the contract, the tokens “expire and lock to the market price,” at which time the payout can be withdrawn in DAI stablecoins. The tokens are built on the dYdX exchange protocol, which is designed for decentralized margin and leveraged trades on the Ethereum blockchain. “Now users can get margin exposure by simply trading an ERC20 token,” dYdX Head of Operations Zhuoxun Yin said, in a press release. “Decentralized exchanges are a natural platform for Short & Leveraged Tokens, and we’re thrilled that Radar Relay is the first to support them.” Although only Ethereum shorts will be available at first, Radar Relay says that it is looking forward to tokenizing other short contracts—which means it may not be long until there are tradeable short contracts against Bitcoin or EOS. While shorts are a recent introduction, the dYdX exchange has plans for more complex smart contract tokens—including options, margin lending and more exotic derivatives, to allow traders to take positions at different levels of leverage and risk. At present, these are projected for release sometime next year. The author has investments in Ethereum, which is mentioned in this article. The post Radar Relay Targets Tokenized Shorts appeared first on Crypto Briefing.

20 days ago

SharesPost Launches ERC-20 Token Index

You’ve heard of the Dow Jones Industrial Average, the NASDAQ Composite and the S&P 500. There are also crypto indices, like those by Coinbase and Galaxy Digital. And now there’s one more. On Thursday, SharesPost launched the SharesPost Token Index to track the growth and maturity of ERC-20 token market. According to the San Francisco-based financial services company, the index is representative of the broad blockchain sector and includes credible projects whose digital tokens have defined utility. Among the cryptos included are Binance (BNB), OmiseGO (OMG), Ox (ZRX), Zilliqa (ZIL), Aeternity (AE), Basic Attention Token (BAT), Pundi X (NPXS), Holo (HOT), Augur (REP), Populous (PPT), WaltonChain (WTC), IOST (IOST), aelf (ELF), Bancor (BNT) and Loopring (LRC). These blockchain projects are ranked at least No. 89 (Bancor) on CoinMarketCap, while Binance Coin is the highest-ranked token at No. 14 with $1.26 billion in market capitalization. The firm’s Token Index gives long-term investors the ability to view in real-time and on daily basis at how a composite of credible blockchain projects are performing against Bitcoin (BTC) and Ethereum (ETH). Its purpose is to inform investor decisions. Since July the index has outperformed Ethereum and underperformed Bitcoin. And over the past 12 months (since October 2017), the index of ERC-20 tokens has grown 17 percent. During the same period, Ethereum has dropped 17 percent while Bitcoin has increased by 59 percent. “We saw a need to provide a meaningful measure of token performance to help inform investor decisions and make the market more comprehensible for everyday people,” said CEO Gregory Brogger in Oct. 25 statement. Not all tokens are treated equally. The index is calculated using a market cap-weighted methodology that uses factors such as circulating supply, market cap, trading volume, trading history and token price to reflect the maturity of the market. The current weighting consists of 31.93% Binance Coin, 12.55% OmiseGO, 10.24% Ox, and 7.33% Zilliqa as four largest ERC-20 tokens that constitute the SharesPost Token Index. Binance Coin (BNB) is the digital coin of the world’s largest cryptocurrency exchange, Binance, in terms of trading volume. At $9.80 it’s down 60% from its all-time high of $24.50 in January. The second-largest project by market cap, OmiseGO, provides decentralized financial solutions across borders. Observers say that blockchain tech is unlocking the potential of the financial sector. “Blockchain technology has completely redefined the idea of a traditional transaction,” Marshall Hayner, CEO of Metal, told Crypto Briefing. “Financial banking, credit card systems, and investment portfolios are all so integral to our society, but completely intimidating to the average consumer .... Blockchain as a framework, which does not warrant a third-party, has unlocked potential for an entirely new type of banking, and in turn, has the ability to strengthen us as a society.” At $6,480 Bitcoin is down 68% this year from its all-time high of nearly $20,000 in January. At $204 Ethereum is down 85% from its all-time high of nearly $1,400 in January. The $209 billion cryptocurrency market is down 75% from its all-time high of nearly $830 billion in market capitalization. The author holds Bitcoin which is mentioned in this article. The post SharesPost Launches ERC-20 Token Index appeared first on Crypto Briefing.

21 days ago

Cryptocurrency Theft: FBI Arrests Two Members of an Online Gaming Cybercrime Syndicate

Unsealed court filings in Chicago show the arrest of two individuals believed to be part of an online cybercrime syndicate. The FBI says it suspects the group has stolen more than $3 million worth of cryptocurrency. Details of the Arrests According to the Chicago Sun-Times, the FBI suspects a Bloomington resident and another from Dolton of being part of an online cybercrime syndicate that has stolen over $3 million in cryptocurrency. The Bloomington resident told Federal Agents that he met the group online while playing “Call of Duty” - the popular first-person shooter game. The FBI says the group stole at least $805,000 in Augur Reputation Tokens. Earlier, the San Francisco-based Augur registered a complaint with the Bureau alleging that hackers were targeting its employees and investors. According to an FBI affidavit, the Bloomington-based suspect confessed to hacking over 100 phones belonging to victims of the numerous cyber attacks. Upon completion of the cryptocurrency thefts, the FBI says the group converted the stolen tokens to Bitcoin or Ether - the two most popular digital currencies. Acting Under Duress Speaking to the Chicago Sun-Times, the Bloomington-based man said that he didn’t hack 100 phones, that the actual number was a lot lower. Speaking further, he declared: I have done nothing but cooperate with Augur and the FBI. I have never once profited from anyone [by] crypto-hacking, ever. The FBI also said that the Bloomington resident claimed he was an unwilling participant in the theft. According to the FBI, the Bloomington-based individual said he was threatened with being implicated in ongoing violent crime (“SWATting”) by the alleged ringleaders of the crime group. Cryptocurrency Thefts by Cybercrime Syndicates Recently, Live Bitcoin News reported on the North Korean ‘Lazarus’ hacking syndicate responsible for cryptocurrency thefts amounting to more than $571 million in multiple cyber attacks. With this latest revelation, it appears there are numerous online groups actively involved in coordinated cryptocurrency heists. Some officials in South Korea say the group is responsible for many of the attacks against cryptocurrency exchanges in the country. Reports by cybersecurity firms like CipherTrace and Group-IB show an increase in cryptocurrency ransomware attacks targeted at banks at other businesses. In September, the Manhattan Supreme Court sentenced one Louis Meza to ten years in prison for attempting to steal $1.8 million. Do you believe that the arrested suspects were acting under duress? Let us know your thoughts in the comment section below. Image courtesy of Call of Duty and ShutterStock The post Cryptocurrency Theft: FBI Arrests Two Members of an Online Gaming Cybercrime Syndicate appeared first on Live Bitcoin News.

21 days ago

Centralization Alert: Circle can Freeze your USDC if One Violates Circle’s User Agreement

While the world was still rejoicing the news of two of the largest cryptocurrency companies, Coinbase and Circle, joining forces to form “CENTRE Consortium” and work on the Circle’s stablecoin USDC, controversy struck. According to the news that has surfaced, the user agreement of Circle’s stablecoin, has listed down events under which the company could freeze coins and seize accounts creating a centralized scenario. Coinbase and Circle can control your UDSC’s Circle had launched its own U.S. dollar version of what’s known as a “stablecoin” in May. The fintech company, valued at $3 billion in its most recent funding round, has made a series of deals and announcements in a long-term bet that despite bitcoin’s price slump, the crypto economy is here to stay. The “USD Coin” was one of those bets, and it received a major boost when it was announced that the coin was going to be listed and traded Coinbase’s popular cryptocurrency exchange. This is the first time Coinbase has supported a stablecoin, which it said is “fundamentally different” from other cryptocurrencies. According to the news released during the launch, the framework for the coin is what’s called “open sourced,” meaning multiple developers can work on the project and help its development. The agreement to mentions the USDC decentralized and of open source nature. But clause 24 of the user agreement does allow Circle rights to “suspend or terminate your USDC Account which can result in the potential forfeit of any US Dollar funds otherwise eligible for redemption” The agreement lists down 11 15 “Prohibited transaction” under which it can act against the user accounts and freeze their USDCs. Certain prominent one includes using USDC in relation with weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories; controlled substances, including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories; money-laundering or terrorist financing; any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program; counterfeit goods, including but not limited to fake or “novelty” IDs; lottery contracts, layaway systems, or annuities; The company has also listed gambling in its prohibited activity list but also has attached a note to it saying “We understand that gambling may be legal in your jurisdiction, but unfortunately, we cannot allow you to use Circle in connection with these activities.” While tracking most of these transactions would require Circle to have significant control over the USDC protocol, it also puts addresses into blanket blacklist which use coins like Augur and Funfair- as they classify into gaming and gambling industry. What is your view on the USDC restricted and prohibited list? Do let us know your views on the same. The post Centralization Alert: Circle can Freeze your USDC if One Violates Circle’s User Agreement appeared first on Coingape.

22 days ago

Augur Bet Total Hits $1.4m As REP Token Price Surges

The total amount staked on the decentralized predictions market, Augur (REP), has reached an all-time high. Data collected by Predictions.Global, an aggregator powered by the Augur network, found there was more than 7,000 Ether (ETH), currently being used in bets on the predictions platform. With each ETH presently trading at around $200, this would make the total amount staked worth approximately $1.4m at current prices. Augur is a decentralized platform that enables users to make and place bets on whatever they want. Wagers are made between two parties, with funds held in escrow in a smart contract. Originally released on the Ethereum network back in 2014, the dApp was finally released in July. It was the most popular application in the immediate honeymoon period; the native Reputation, or REP, token spiked up to $40. Since then Augur has come under fire, with some users suggesting that the platform is no longer popular, making it difficult to justify its multi-million dollar total cap. As Crypto Briefing reported in early September, the network at one point had 38 active users in the space of 24 hours. Take an Augur bet? The value of REP tokens have been rising in today’s trading; opening Wednesday at around $13.50 but surged rapidly in the small hours to a high of $15.65. The coin has been subjected to a price correction and is currently hovering at around the $14 mark. Nonetheless, it is still one of the best market performers midweek; its cap is currently $6m up from where it was at the beginning of the day. Mainstream media hyperbole were quick to predict Augur would become the go-to place for macabre death predictions on high-profile figures, including a certain US president, in particular. But the vast majority of bets on the platform have been crypto price predictions. Augur presently has a wager on whether Ether will exceed $500 by the end of 2018. There is currently more than $500,000 worth of ETH staked on this: more than a third of the platform’s total bet amount. This makes it the single largest bet on the Augur platform. Other large bets on crypto include one on whether the REP token will ever trade at above $32, which closes on January 1st and currently has $250,000 of Ether. Another one wagers on whether Ethereum will have a larger market cap than Bitcoin (BTC) by the end of 2019. Only two of the ten largest bets are on something other than crypto price predictions. The third largest wager is on which political party will have a majority in the House following the US midterm elections this November; the tenth largest is on whether Donald Trump, the US president, will win a Nobel Peace Prize during his first four-year term in office. The odds are overwhelmingly against this: currently, it’s a 6% chance. The author is invested in BTC and ETH, which is mentioned in this article. The post Augur Bet Total Hits $1.4m As REP Token Price Surges appeared first on Crypto Briefing.

23 days ago

Bitcoin Stability Continues while XRP, VeChain, BAT, Verge, & Augur Making Good Gains

Bitcoin is trading near $6,500 maintain stability as volatility collapses. Meanwhile, XRP, VeChain (VET), Basic Attention Token (BAT), Verge (XVG), and Augur (REP) are up between the range of 4 and 7 percent. Bitcoin volatility collapses at $6,500 Bitcoin is maintaining stability for a long time now. At the time of writing, it has been trading at $6,497 with 0.56 percent gains. With a daily trading volume of $3.3 billion, as shown in the graph below, the price is being inactive lately with volatility crumbling. Bitcoin 1-year price chart, Source: Coinmarketcap The entire crypto market is currently seeing the greens as the total market cap adds over $2 billion. Meanwhile, BTC dominance is at 53.6 percent. XRP/USD The world’s 3rd largest cryptocurrency is up by over 4 percent while registering the daily trading volume of $432 million. Currently, trading at $0.4616, it is moving towards $0.4700 resistance level. XRP 24-hours price chart, Source: Coinmarketcap VeChain (VET)/USD Up by 6.13 percent, VeChain is making a lot of headway in IoT space while climbing to $0.01159. With its ecosystem continuing to grow, the prices are depicting a bullish picture. VET 24-hours price chart, Source: Coinmarketcap Basic attention token (BAT)/USD For the past week, BAT has been making a lot of gains on the anticipation of Coinbase listing. Trading at $0.2683, it is up by over 6 percent. BAT 24-hours price chart, Source: Coinmarketcap Verge (XVG)/USD At 41 rank, Verge also managed to make some gains at $0.0146 while rising upwards by about 4 percent with a daily trading volume of $5.1 million approximately. XVG 24-hours price chart, Source: Coinmarketcap Augur (REP)/USD At $14.01, the decentralized platform for predictions market, Augur is rising by 6 percent while managing the daily trading volume of $9.6 million. REP 24-hours price chart, Source: Coinmarketcap The post Bitcoin Stability Continues while XRP, VeChain, BAT, Verge, & Augur Making Good Gains appeared first on Coingape.

23 days ago

FBI: “Call of Duty” Players Remotely Stole $3.3 Million in Cryptocurrencies

A group of “Call of Duty” players from Indiana are accused of stealing more than $3 million in cryptocurrencies after coercing an Illinois man to aid them in remotely hacking unsecured crypto wallets on more than 100 cell phones. Man Coerced Into Hack After SWATing Incident The episode began in Bloomington, Illinois, where a local man told the FBI he met the members of the would-be group of cybercriminals online playing Call of Duty. In the simulated warfare game, players are able to communicate with each other in real-time and with relative privacy. The group, based out of Dolton, Indiana, allegedly coerced the man from Bloomington into working for them using an intimidation tactic called “SWATing,” a nefarious, illegal, and dangerous phenomenon that has become increasingly popular in online gaming communities. SWATing is when police are called with a false report of a violent crime at someone’s home, which prompts a response from a SWAT team — oftentimes leading to door breaches, gunfire, and even the accidental deaths of unknowing victims. It’s often used as a decidedly dark method of payback, or, as in this case, to intimidate or threaten an individual. Afraid of further retaliation the man succumbed to the hacker’s requests, to which they handed over names, phone numbers, and other information that permitted him to remotely access the cell phones of their victims. According to the FBI affidavit, the man admitted to taking over the cell phones of more than 100 people. Once the group took over a phone, they were able to hack into a victim’s cryptocurrency account and drain their funds. The group is suspected of stealing at least $3.3 million in various cryptocurrency, including about $805,000 in Augur’s Reputation Tokens, according to the FBI. The suspects then allegedly moved stolen tokens through cryptocurrency networks, such as Ether or Bitcoin, to their own digital wallets. As of yet, the Chicago Sun-Times isn’t naming the suspects identified in the affidavit because they don’t appear to have been charged with any crimes. In an online interview the Bloomington man proclaimed his innocence — even going as far as to say that considers himself a victim: “I have done nothing but cooperate with Augur and the FBI,” he said. “I have never once profited from anyone [by] crypto-hacking, ever.” Crypto Thefts in First Half of 2018 Total Over $1.1 Billion According to recent study from cybersecurity firm Carbon Black, the total amount of cryptocurrency that has been stolen through cybercrime this year alone is over $1.1 billion — primarily through ransomware and exchange hacks. The firm’s report claims that many criminals are using the dark web to appropriate cryptocurrency from their victims, estimating that there are over 12,000 marketplaces with almost three times that number of crypto theft listings between them. Rick McElroy, security strategist at Carbon Black, spoke on the trend, noting how easy it is for cybercriminals to operate these days: “It’s surprising just how easy it is without any tech skill to commit cybercrimes like ransomware... It’s not always these large nefarious groups, it’s in anybody’s hands.” Part of the reason for this is the accessibility and user-friendliness of the tools of the trade. McElroy said that certain pieces of malware even come with customer service to aid would-be cybercriminals, adding that the malicious software costs an average of $224 but can be picked up for as little as $1.04. Many of the attacks against crypto users, companies, and exchanges originate from an organized group of criminals like those out of Indiana, however, McElroy says, they’re just as likely to be the product of a trained engineer who is out of work: “You have nations that are teaching coding, but there’s no jobs... It could just be two people in Romania needing to pay rent.” Image from Shutterstock The post FBI: “Call of Duty” Players Remotely Stole $3.3 Million in Cryptocurrencies appeared first on NewsBTC.

23 days ago

FBI: ‘Call Of Duty’ Players Turn To Cryptocurrency Hacking, $3 Million Stolen

‘Call Of Duty’ Gamers Accused In Court Filing, FBI Affidavit Members of two different industries, the long-standing gaming community and the nascent cryptocurrency world, have recently butted heads, but not in a way that you may immediately assume. According to the Chicago Sun Times, an American media outlet, a consortium of gamers, who primarily played games in the “Call Of Duty” first-person shooter franchise, have turned to malicious acts to get their hands on crypto assets. Per Chicago-filed court documents, as relayed by local media, the group, which includes men from Dolton, Illinois and Bloomington, Indiana, is suspected of getting their hands on a minimum of $3.3 million in ill-gotten cryptocurrency. One man from Bloomington, who remains anonymous due to the odd circumstances of this case, explained that he met his hacker peers while playing Call of Duty, presumably through the voice chat function that the video game offers to its users. Interestingly, via a search warrant, it was revealed that the Bloomington-based individual claimed that the other members of the hacking group “forced him to participate” in the swindle. More specifically, the suspect noted that he was intimidated by the hacker’s threats that they were going to ‘SWAT’ him, which is when attackers lead police and SWAT teams astray by sending them to the place-of-work or home of an unsuspecting victim. Although most of these cases are false alarms and don’t result too much, there have been occasions where victims have been killed by misled authorities due to a misreading of the SWATting occurrences. To accomplish the hacks, the unwilling participant reportedly received the personal details of hundreds of consumers from other members of the ring, who were attempting to coerce the man into hijacking the mobile devices of victims. As the United States Federal Bureau of Investigation (FBI) later found, the man’s actions resulted in over 100 people losing access to their phones and certain accounts. Although this may sound like a traditional SIM-swap hack, an FBI affidavit revealed that the employees, founders, and investors of Augur, which manages a prediction DApp that shares its name, were likely being targeted by the hacker outfit. It wasn’t made clear why Augur-associated individuals were targeted, but it can be assumed that the promising crypto startup may have suffered a security breach in the past. In all, the hacker group has reportedly stolen at least $3.3 million worth of a variety of crypto assets, with $805,000 of that sum reportedly consisting of Augur’s in-house Reputation (REP) tokens. Although moves are being made to solve the case in legal courts, it wasn’t revealed if authorities are taking the proper steps to reclaim the stolen crypto assets, which seemingly remain at large. While these hackers aren’t anything like North Korea’s shadowed Lazarus Group, who have reportedly stolen upwards of $500 million in crypto assets in the past two years, this unfortunate case indicates that malicious behavior in this space isn’t likely to dissipate any time soon. Title Image Courtesy of Glenn Carstens-Peters on Unsplash The post FBI: ‘Call Of Duty’ Players Turn To Cryptocurrency Hacking, $3 Million Stolen appeared first on Ethereum World News.

23 days ago

Call of Duty Players Suspected of Stealing more than $3 Million Dollars in Crypto

A group of Call of Duty players is suspected by authorities of masterminding a scheme to steal more than $3 million in cryptocurrency, according to Chicago Sun-Times. One man from Bloomington involved in the scheme told FBI officials that he was intimated to participate in the scheme and helped the group gain control of more than 100 different phones, through which the other conspirators gained access to the wallets. It is reported that the police got wind of the scheme after it was informed about cryptocurrency theft from a company called Augur, a betting platform for cryptocurrencies.(RL)

24 days ago

Photos: Spiders have blanketed another Greek beach with massive webs

Just last month, a strange phenomenon the popped up on the shores of a Greek lagoon led the world to let out a yelping, horrified “Oh, hell no.” In September, a massive cobweb sprouted up among the vegetation in Aitoliko, marking a seasonal spider tradition of mating, feeding and raising their young, essentially an eight-legged bacchanal. Now, just in time for Halloween, the spiders have struck again—this time in Greece’s northeast. According to Greek media, the spiders have draped their webs over nearly a kilometer of vegetation around Lake Vistonida. Photos from today (Oct. 19) showcase the tangled empire at sunrise. The sight of the webs covering trees, bushes and roadside shrines may appear to augur some kind of arachnid-induced rapture, but the increase in the structures is said to be harmless. Spider webs blanket shrubs on the banks of Lake Vistonida. Cobwebs cover all manor of vegetation, from shrubs to an entire tree. Spider webs blanket trees and bushes on the banks of Lake Vistonida. A roadside religious shrine wasn’t immune. Not an entire church, just a small shrine. But covered.

a month ago

Bitcoin and Crypto Arbitrage Trading Guide For Beginners

In recent weeks Bitcoin’s price has been quite rough and unpredictable. It has been a particularly difficult time for people involved in the cryptocurrency market as we’ve watched the value of our investment fall from the peak when we bought the currency. So, what strategy to choose for difficult times? Hold or try to trade “catching falling knives”? Or maybe try to play with alternative coins? Or maybe sell and come to terms with the loss? HODL Seems Safe The safest method appears to be holding (or HODLing). That is where the crypto-investor holds a cryptocurrency for a long time. Holding requires patience, and unfortunately, you have to wait years to get a profit. People who have held Bitcoin for several years are the biggest winners, and many people were jealous of their profits. After all, who wouldn’t want several thousand Bitcoins that were bought years ago for 50 cents, a dollar or even $100 each? How about if we bought BTC when its price was $8,000, $9,000 or even $15,000 a coin, and ever since the beginning of 2018, the value of our investment has fallen every day? Will the rate return to this level someday? Will you earn 10%, 100% or even 1000%? Nobody knows whether the investment will pay for itself or we lose more over a few and finally say, I could have sold in 2018 with a smaller loss”. As I mean, holding requires a lot of patience. Trading Could be too Risky Trading seems to be the solution, namely the strategy of “catching a falling knife” or hunting for flash crashes. However, trading is extremely risky and is accompanied by a massive amount of stress, and “catching falling knives,” as the name suggests, is a very dangerous game because you can cut yourself badly. It’s not everyone who can stand the mental pressure, and also say “stop” at the right time, while waiting for a price bounce. In theory, the strategy is quite simple. However, when it comes to practice, we sell our BTC when a series of sales start, buy back at a lower price, then sell on a delicate bounce and buy at the bottom, lowering the exit point. After a few such transactions, we can see how beautifully the amount of BTC in our wallet grows, although it does not necessarily result in turning the value of the investments into fiat. In theory, we are winning because when the price returns to the previous levels, we have more BTC than before, so, theoretically, we are on a huge plus. However, as I mentioned earlier, in practice things don’t always pan out. Very often, several, such successful transactions make us optimistic, until our the last transaction when we sell our BTC at the lowest exchange rate, and then suddenly there is a quick and robust bounce, and before we even realize that it is not a temporary correction it is in a declining trend, its already reversing, and it is too late. The effect is that when we buy back our BTC, it turns out that we have less than we started with. This causes additional stress, and as a result, many people make a series of mistakes trying to compensate for their loss, losing even more of their accumulated capital. Let’s Trade Altcoins Instead So what can we do? Well, the behavior of the cryptocurrency market, in theory, is very predictable. When Bitcoin’s price begins to “go down,” all of the alternative coins lose a lot more when compared to BTC. When the exchange rate of the king of the cryptocurrency starts to bounce and stabilize, the alternative coins price start to climb sharply. In theory, it’s easy to make money. The problem is that you need to know which currency to pick and when to enter. Unfortunately, this already requires a lot of experience, market knowledge, patience, and nerves of steel. Is there any way out of this situation? One that does not involve a long and uncertain wait or risk of severe losses and nerves? Meet Crypto Arbitrage Yes, the solution is arbitrage on the cryptocurrency exchanges. That means using the price differences of the same cryptocurrency on various exchanges. Arbitrage is the best strategy for trading when there are so many moves on the market. Significant price differences arise for the same cryptocurrency on multiple exchanges. There are over 220 different cryptocurrency exchanges on the market. These exchanges are not connected, which is why the same cryptocurrency may have completely different prices on different exchanges. These differences are not huge, because they mainly depend on the demand, supply, and volume on a given exchange. Arbitrage on Augur (REP). Same token, 4% difference. Source: Coinmarketcap Exchange Differences The norm is differences ranging from 3% to 5% though in extreme cases, even 40% or 50%. Such price differences allow you to generate quite a big profit with a relatively low risk, low stress, and most importantly no advanced market knowledge is required. All you need is the ability to find an offer and transfer funds from one exchange to another. The timing is also critical! In the case of arbitrage, we do not have t

a month ago

CFTC Discusses Possible Crackdown On Blockchain Powered Prediction Markets

Commodities Futures Trading Commission (CFTC) Commissioner Brian Quintez made a speech that was largely about blockchain smart contracts on 16 October 2018. Quintez concludes that prediction markets powered by blockchain smart contracts, such as Augur which is the #52 cryptocurrency with a market cap of USD 139 million, are under CFTC jurisdiction and can be classified as binary options. Specifically, Quintez says “Let’s apply the general analytical framework I’ve described above to our earlier example of the “prediction market.” In this hypothetical, after performing a facts and circumstances analysis, the CFTC has determined that the smart contracts executed on the blockchain are binary options, which are within its jurisdiction. Binary options are a type of option whose payoff is either a fixed amount or zero. For example, there could be a binary option that pays $100 if the price of gold is above $1,200 per ounce on a specified date or zero otherwise. Moreover, the contracts in our scenario likely qualify as event contracts that are based upon the occurrence or non-occurrence of an event (as opposed to a price of a commodity). Event contracts have a unique spot in CFTC jurisprudence because of the public policy concerns they raise. For example, event contracts based upon war, terrorism, assassination, or other similar incidents may be contrary to the public interest - in which case, the CFTC can prohibit an exchange from offering the contract”. Indeed, the Augur prediction market has already been in the spotlight due to assassination bets being created. This opens up the possibility that any sort of bet can be created on Augur, no matter how immoral it is, especially since Augur burned the kill switch for the platform, making it decentralized and unstoppable. Clearly, the CFTC would consider immoral bets on Augur contrary to the public interest, and therefore illegal. Quintez further explains who is responsible when smart contract powered prediction markets violate the law. “I think the appropriate question is whether these code developers could reasonably foresee, at the time they created the code, that it would likely be used by U.S. persons in a manner violative of CFTC regulations. In this particular hypothetical, the code was specifically designed to enable the precise type of activity regulated by the CFTC, and no effort was made to preclude its availability to U.S. persons. Under these facts, I think a strong case could be made that the code developers aided and abetted violations of CFTC regulations. As such, the CFTC could prosecute those individuals for wrongdoing”. This brings up the possibility that programmers who create blockchain prediction markets, such as the Augur developers, could end up in a legal battle with the United States government. Quintez compares blockchain prediction market developers to someone who lends their keys to a bank robber. As a secondary layer of enforcement, Quintez speculates that the CFTC could sue individuals who use prediction markets, but he admits this would probably be ineffective due to the decentralized, anonymous, and global nature of blockchain prediction markets. Apparently, LabCFTC has been created to engage with blockchain developers, to prevent blockchain platforms that violate the law from being created in the first place. However, Quintez says if engagement does not occur, then enforcement is the only option. A final important note in Quintez’s speech is he does not consider code to be law, contrary to the thinking of many blockchain and crypto users who consider code to be a form of law. Quintez says “I have heard some say that “the code is law,” meaning that if the software code permits it, an action is allowed. I disagree with this fundamental premise. Case law, statutes, and regulations are the law. They apply to the code, just as they apply to other activities, contracts, or agreements”. Essentially, just because something is coded into a blockchain or crypto platform, that does not make it law, and the laws of the land are definitely superior, at least in the CFTC’s opinion. Quintez ends the speech on a somewhat positive note, saying “Smart contract applications on blockchain networks hold great promise. They have the potential to open up new markets and create efficiencies in existing ones. At the same time, they also raise novel issues of accountability that users and policymakers alike must consider”. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post CFTC Discusses Possible Crackdown On Blockchain Powered Prediction Markets appeared first on BitcoinNews.com.

a month ago

$152 Million Lawsuit Against Augur By Former CEO Settled Outside The Court

The San Francisco county court has dismissed a $152 Million lawsuit involving augur. The lawsuit was filed in April by Matthew Liston, the former disputed CEO of Augur against three other founding members for acts of fraud. Liston has now confirmed that the case has been settled outside the court, but refrained from providing any further details. After his departure from Augur, Liston has been assisting a potential Augur competitor known as Zero Ex Omega. Augur (REP) is priced at $12.59, gaining 0.68% in the last 24 hours. (VS)

a month ago

Here's an awesome look at @AugurProject by @decryptmedia. Wa...

Here's an awesome look at @AugurProject by @decryptmedia. Want to learn more about the past and future of Augur fro... https://t.co/dU7hU4uI7J...

a month ago

CFTC Official Warns Smart Contract Coders On Prediction Markets

Speaking at an event in Dubai, Brian Quintenz, a commissioner at the U.S. Commodity and Futures Trading Commission (CFTC) said cryptocurrencies are not immune from traditional laws. He took the example of using smart contracts in traditional markets to make his point. While most futures contracts are allowed, the CFTC has banned event contracts based upon war, terrorism, assassination, or other similar incidents may be contrary to the public interest. Augur saw an explosion of assassination contracts on its launch. Quintenz added that the CFTC will go after smart contract coders who built these products. (VS)

a month ago

The $152 Million Lawsuit over Blockchain Betting Startup Augur is Settled

In April, a blockchain entrepreneur has surprised the space by launching a savage legal attack on his four associates, alleging that all of them committed acts of fraud, breach of contract and trade theft. The allegation resulted in a $152 million lawsuit, the most expensive claim the cryptocurrency space had seen, even until this very date. The plaintiff was Matthew Liston, 26, and the defendants were Jack Peterson, 35, Joseph Charles Krug, 22, and Jeremy Gardner, 2 - all co-founders of a blockchain betting tool Augur at the time of filing - named alongside angel investor Joseph Ball Costello, 64. Liston alleged that he was removed forcibly from the company and the project, was not paid or recognized for his role as co-founder at Augur. He also accused the defendants of freezing his stakes from Augur’s Initial Coin Offering (ICO) which raised $5.3 million. Case Dismissed The very recent court records filed in San Francisco County, California, shows that Liston’s lawsuit was dismissed on October 12. The county has reportedly ordered the management to take the case “off the calendar,” which, in legal terms, means an order of the court to bring a lawsuit, petition or motion off the list of pending cases or actions which are scheduled to be heard. The court decision appears to have come after O Shane Balloun of Balloun Law requested to terminate Liston’s allegations over prejudice. It means that the lawsuit would be dismissed enduringly. In September, on the other hand, another court document revealed that Liston’s lawyers were negotiating an “off-court” deal with the defendants. “...the parties have reached a settlement in principle and are working diligently to finalize a written settlement agreement,” the document read. None of the parties responded to the media queries sent after the document made it to the press. Is Liston Still an Augur C0-Founder? Even though his case stands dismissed, and a private negotiation being underway, Liston still recognizes his role at Augur as its CEO and co-founder on his social media profiles. The company’s official website and whitepaper, meanwhile, do not name Liston anywhere, creating a conflict with what Liston claims. The blockchain entrepreneur nevertheless moved on to taking other key positions in the industry. He offered strategic assistance to Gnosis Limited, a decentralized platform for prediction market, which raised $12 million in funding and shares similarities with Augur. He also worked as a Decentralized Autonomous Strategist at ConsenSys, a blockchain software technology company. Liston is currently working on a project-cum-religion he calls 0xΩ. “It’s a religious framework that could allow for belief sets to update much more quickly and also to democratize the relationship between membership and convergence on what everyone believes in this religion The idea is you can take an existing religion, say Judaism, and you could place the scripture in a blockchain,” said Liston. Image from Shutterstock The post The $152 Million Lawsuit over Blockchain Betting Startup Augur is Settled appeared first on NewsBTC.

a month ago

Pantera Exec: Crypto Market Close to Bottom, Tenfold Increase Possible With Scalability

As Q4 of 2018 dawns on the infant crypto and blockchain world, many outspoken advocates for this industry have done their best to reaffirm that the cryptocurrency values will reverse without a doubt. “Crypto Is Close To The Bottom At This Point” When it comes to industry veterans, Joey Krug, an Augur co-founder turned crypto investor extraordinaire, is arguably one of the most qualified individuals to speak on the current state of the cryptocurrency market — from both fundamental and technological viewpoints. And as such, Bloomberg took some time to catch Krug at the media outlet’s Sooner Than You Think Conference for an insight into how this burgeoning industry is performing. Opening Krug’s segment on-air, the hostess asked the question that has been on the mind of every crypto investor and their dog — “is the cryptocurrency market reaching a bottom?” Responding to the query with hints of a vested interest, Krug, who is now San Francisco-based Pantera Capital’s co-chief investment officer (CIO), noted that if this market is on the cusp of establishing a bottom. While adding that crypto assets still remain range-bound, which is made evident when looking at Bitcoin’s relative inaction, the Pantera executive also mentioned that investors are ready to pounce on a positive catalyst at a moment’s notice. Elaborating on his point, the innovator brought attention to not one, but two catalysts, which are scalable blockchain networks and easy-to-use fiat on-ramps. The latter point is rather straightforward because as it stands right now, not only is it difficult to invest capital into crypto assets, but it is also relatively expensive. For one, fiat-supported crypto platforms, which aren’t even easy to navigate in the eyes of an average Joe, charge you an arm and a leg for the most simple of transactions. Bringing up a specific example, the Pantera CIO called out Coinbase, claiming that the service charges “150 to 400 basis points” for wire transfer transactions, which are fees that may make many think back to traditional systems. Krug alluded to the fact that the relative cost-inefficiency may be a turn-off for prospective cryptocurrency investors, but, with the arrival of platforms such as Bakkt, the investor claimed that this issue may be solved in the “next six to nine months.” He added: “Within the next year, [fees] will be down to 50 basis points from maybe not Coinbase, maybe some upstart, but with solutions like Bakkt and Fidelity Digital Asset Solutions going live, costs are going to be driven down.” Joey Krug: Scalability Of Networks To Spark “10x” Crypto Bull Run While the issues with modern cryptocurrency platforms shouldn’t be disregarded, the Augur co-founder went on to point out that a lack of scalability solutions are directly holding back crypto assets. Although the cryptosphere just began to walk on its own two legs, Krug added that scaling blockchain networks, while difficult, is something that innovators within this industry can accomplish with a dab of elbow grease, grit, and determination. While he was hesitant to state that the Bitcoin mainchain, arguably the pinnacle of crypto evolution, will reach thousands of transactions per second, the industry insider noted that there will eventually be blockchain networks that can surpass today’s centralized fintech ecosystems. Underlining the importance of scalability, Krug stated: “If you look at the internet, it is easy to say, ‘Well, you just create an app, get some users, and then you solve the scalability problems.’ But, here, these are all markets, so if you don’t have scalability, you don’t have market makers and so you don’t have liquidity.” Maintaining this angle, the Pantera executive added that the proper scalability of current blockchain networks will drive the crypto market’s next round of exponential, jaw-dropping growth, which Krug says will boost digital assets values by 10 times. And, with the widespread adoption of the Lightning Network and the Liquid sidechain likely being just months away, there’s a chance that the diehard crypto investors of today won’t need to sit on their hands for too much longer. Featured Image from Shutterstock The post Pantera Exec: Crypto Market Close to Bottom, Tenfold Increase Possible With Scalability appeared first on NewsBTC.

a month ago

Three Major Projects with Shockingly Little Activity

“Build it and they will come” has unfortunately proven to not translate well with the crypto space. In 2017, ambitious projects raised record setting amounts of money and today, many of these projects have utilized their warchest to bring their dreams to reality. While there are a handful of major projects that have already garnered activity in the magnitude of millions, many alternatives have, so far, failed to see any meaningful use. Here are three of largest projects that fit the bill: #3 Bitcoin Gold (BTG) For many, it likely doesn’t come as a huge surprise that the Bitcoin fork has failed to garner much meaningful adoption. While Bitcoin Gold has a couple of interesting features, mainly, a new mining algorithm that is ASIC resistant as well as replay protection, it also comes with a lot of baggage. There is evidence to suggest that the developers pre-mined and dumped 200,000 BTG at the all-time high price of US$500. They also promoted a scam wallet that stole close to US$3 million from unknowing victims. Overall, there is little merit behind the project, especially in comparison to Bitcoin and Bitcoin Cash. However, at a market cap of almost US$500 million, one would expect that something fruitful is taking place on the network. The reality couldn’t be further from the truth. With daily transactions averaging around 1,000, BTG transactions happen less than once per minute. As it is expected that a majority of the activity is trading related. #2 Augur (REP) By crypto standards, Augur is a project whose history dates back ages. While the predictions market protocol has been right around the corner for years, it was finally released in July of this year. Unfortunately for longtime supporters, eagerness for the project quickly diminished as activity on the platform was not as expected and has steadily drained since launch. At time of writing, there are close to 1,300 active predictions markets on Augur and almost US$1.2 million at stake. While not impressive for a project valued at $140 million, it’s not a terrible metric, at first glance. The reality is much more dire: only 96 of those markets are liquid (as in, there is any activity placed) and a majority of money at stake comes from just two of those markets. Liquidity remains a big issue as the most liquid market still maintains a margin of over 5%. To put the sheer lack of activity into statistics, less than 20 actions have been executed on the market in the past day. #1 0x Protocol (ZRX) There seems to be a lot of love for 0x almost universally throughout the crypto space. And this is not necessarily unfounded- the service provided by ZRX supplies much needed scalability and cost solutions to decentralized exchanges. With 0x, only the execution of trades in a dex setting require a transaction. As it currently stands, a transaction is needed for everything: sending money to exchange contract, placing orders, canceling orders, executing trades, and sending money out of the contract. Alas, 0x’s solution could likely play a major role in cryptocurrency trading in the near future. However, this is all currently speculation, as there is almost zero activity across all parties that have adopted the technology. All eight of 0x’s current users, called relayers, are transparently displayed on the trading portal of the 0x site. Accompanied by the list is the weekly activity. At time of writing, this amounts to US$2,552 worth of trades throughout the whole week. This is actually up significantly from last week, when the number was under $500. Regardless, it does not justify the project’s US$400 million market cap. Several major exchanges, such as Ethfinex, indicate they are working to incorporate 0x. But at this point in time, such adoption is wholly nonexistent. The post Three Major Projects with Shockingly Little Activity appeared first on NullTX.

a month ago

‘EOS Will Die in a Horrible Dumpster Fire in the Next Five Years,’ Says Bitcoin Developer

In a recent interview, Jimmy Song, Bitcoin core developer and educator, called EOS a scam and recommended that young developers keep away from such projects. More Criticism for EOS Jimmy Song, a Bitcoin core developer who now spends time educating people around the world about blockchain technology, in a recent interview with an online crypto publication, was blunt and to the point in his criticism of EOS. EOS is a blockchain protocol powered by the native cryptocurrency - also called EOS. The third generation blockchain, which has often been called “Ethereum killer,” has been the subject of severe criticism since its main net launch earlier this year. Despite raising nearly $4 billion in a year-long ICO, the project has experienced disruptions due to bugs and faced governance issues due to its centralized consensus mechanism. Even so, the digital asset is among the top 5 cryptocurrencies by market capitalization. A Scathing Attack on EOS When asked whether a young developer should choose to work on projects like EOS, he replied: Well, I think EOS is a scam and I don’t think you should work on it. He further cautioned: Because working for something [like] EOS... I don’t think it’s a really [good] idea because it will die in a horrible dumpster fire in the next five years. Doing something for an ICO, that’s not gonna last. You’re not going to have anything good on your record by joining a lot of this stuff. Song is not the only person who has spoken against EOS. Cryptocurrency investor James Spediacci has also been critical of the project. Spediacci recently took to Twitter to share 13 reasons why EOS is a disaster. Last month, Live Bitcoin News reported about how Huobi, a cryptocurrency exchange was allegedly colluding with other EOS block producers for mutual gains, highlighting the weak governance structure. Song’s Advice for Young Developers When asked what advice he would give to young developers looking to enter the crypto and blockchain space, Song said: Generally, I recommend that people start working on open-source projects and learn as much as possible because developers that know this stuff are incredibly rare and they become desirable in the marketplace anyway. So it isn’t that difficult to find someone that will hire you and a lot of these ICO projects will flush you with money but have no developers, and often times they will come and offer a lot of money. He added: But one of my recommendations is generally to look at what it is that you really wanna do and work towards it. I think most people will do fine trying to learn, getting better and seeing what market opportunities there are. It might involve getting an entry-level job at certain Bitcoin-related companies, or it might be creating a new open-source project. It really depends on the person and what they’re passionate about, and what their goals are. EOS seems to be struggling in addressing the issues that have been pointed out by the community. Failure to quickly resolve the shortcomings does not augur well for the project, as its credibility has taken a big hit. Do you agree with the views expressed by Song and Spediacci? Let us know in the comments below? Images courtesy of ShutterStock The post ‘EOS Will Die in a Horrible Dumpster Fire in the Next Five Years,’ Says Bitcoin Developer appeared first on Live Bitcoin News.

a month ago

Research: Bitcoin as Stable as “Dollar and Oil”, Cites Cubic Law

New research published in a respected Journal of Nonlinear Science, suggests that cryptocurrencies could soon be as reliable as fiat currency. Chaos has released a research report titled “Bitcoin market route to maturity?” which maintains that due to the maturing of digital assets over time, many commentators view that Bitcoin and similar cryptocurrencies are volatile, and therefore too unstable to be used as a currency, are largely unfounded. The basis of many of these commentaries about Bitcoin’s instability stems from the massive price fluctuations of the past year, seeing the flagship cryptocurrency reach a high of almost $20K in December of 2017 only to drop to $6000 in June of 2018. The report cites influences, not unlike those which effect regular fiat markets, as instrumental in some of the fluctuating fortunes of digital currencies, such as temporal correlations as multi-scaling effects. The authors of the study commented on the Bitcoin movement over time after studying a number of graphic representations: “Initially, the graphs we got were a bit crooked, which did not augur anything promising ... but when we took a closer look at the data, suddenly it turned out that this crookedness originated from the first two years of the analysed period, that is, from the time when the market was just starting to shape itself.” Adding, “Later on, the rates of return fluctuated according to the inverse cubic law.” Cubic law is a system of judging a market’s maturity where financial analysts plot price changes in one-minute sequences and compare how they match up. They added that Bitcoin’s maturity was “particularly evident in the last six months of the examined period,” suggesting that the digital currency’s fluctuations corresponded in the same way as rates of return as regular, mature markets, such as the stock, dollar, oil or bond markets; all good news for Bitcoin enthusiasts and cryptocurrency investors in general. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Research: Bitcoin as Stable as “Dollar and Oil”, Cites Cubic Law appeared first on BitcoinNews.com.

a month ago

Bitcoin as Stable as Dollar and Oil Markets, Says New Research

New research published in a leading scientific journal says that Bitcoin has matured and is more reliable than before. A Vote of Confidence for Bitcoin Cryptocurrencies are considered as a highly volatile asset class. Bitcoin price in 2017 rose from $1,000 in January to nearly $20,000 in December before crashing back to $5,800 in 2018. Between these price points, there were multiple upward and downward price swings. Many investors have kept away from crypto markets given these wild swings. However, recently published research in a renowned scientific journal, Chaos: An Interdisciplinary Journal of Nonlinear Science, portrays Bitcoin in a positive light, arguing that the world’s foremost cryptocurrency has matured. The research paper is titled “Bitcoin market route to maturity? Evidence from return fluctuations, temporal correlations, and multiscaling effects” and is authored by researchers at the Henryk Niewodniczański Institute of Nuclear Physics (IFJ PAN) of the Polish Academy of Sciences in Kraków. Analysis Conducted The researchers studied Bitcoin price movement over the last six years (from 2012 through April 2018) and concluded that key statistical features of the digital asset are similar to those of established financial markets like fiat currencies, stocks, and commodities. After analyzing graphs of Bitcoin’s price, the authors said: Initially, the graphs we got were a bit crooked, which did not augur anything promising. But when we took a closer look at the data, suddenly it turned out that this crookedness originated from the first two years of the analyzed period, that is, from the time when the market was just starting to shape itself. Later on, the rates of return fluctuated according to the inverse cubic law [a statistical method to study financial market maturity]. Conclusions from the Study Lead researcher Prof. Stanislaw Drozdz says: The most important statistical parameters of the Bitcoin market indicate very clearly that for many months now it has met all the important criteria of financial maturity. It seems that in the case of other cryptocurrencies it will be possible to expect a similar transformation. If this happens, the world’s largest market, the Forex market, can look forward to very real competition. The paper itself concludes: [In] spite of its virtual nature and novelty, the Bitcoin market has recently and rapidly developed the statistical hallmarks which are empirically observed for all ‘mature’ markets like stocks, commodities or Forex. It appears plausible that other cryptocurrencies will follow the same trajectory. Going by the findings of this interesting study, it can be assumed with confidence that we will experience less volatility in the price of Bitcoin going ahead. In fact, the finding correlates well with the actual price action over the last six months (the study looked at data until April 2018). Do you agree with the conclusions of this research paper? Let us know in the comments below. Images courtesy of Shutterstock. The post Bitcoin as Stable as Dollar and Oil Markets, Says New Research appeared first on Live Bitcoin News.

a month ago

Cryptocurrency Market Update: Tron Pumps Again on ‘Industry Giant’ Partnership Teaser

FOMO Moments Markets are still low this weekend; Tron gripped by fomo, XRP also recovering. Crypto markets are still very depressed as we enter the weekend. There has been no recovery from the mid-week dump which resulted in the loss of $20 billion from digital currencies. Total market capitalization is hovering just above $200 billion at the time of writing and remains close to its lowest level for a year. Bitcoin bulls are still sleeping this Saturday as BTC remains at $6,280 showing zero movement over the past day. Ethereum has gained a little but is also extremely weak trading at just below $200 in Asia this morning. Altcoins are predominantly green at the moment but this is no surprise considering the huge dump they all made over the past few days. The top ten shows XRP making the biggest recovery right now, adding 7% back to its value and trading at $0.419. Litecoin is second with a 5% rise to take it back to $54. The rest are making around 2-4 percent at the time of writing. The top twenty is seeing more movement with Tron trading double digits higher today adding 11% to bring TRX prices up to $0.0235. Tron has regained all losses in the recent dump and is back to its last weekend level. Justin Sun’s marketing machine keeps pumping out those fomo inducing tweets which are currently driving momentum; Finally, First time to partner with tens of billions USD valuation industry giant. Guess the name #TRON #TRX $TRX — Justin Sun (@justinsuntron) October 12, 2018 The Reddit feed has gone wild with speculation as to who this new ‘industry giant’ partner could be but as has been the case before it could be another overreaction. As in the top ten, most other altcoins in this section are trading between 2 and 4 percent higher on the day, making a small recovery from their big drops. There are a couple of obscure pumps as usual this morning in the top one hundred with Digitex Futures entering the chart with a 27% pump. Augur is also making 15% on the day to climb over $13 once again. At the messy end of things is Dropil dropping just over 7% over the past 24 hours. Total crypto market capitalization has clawed back 1.5% since the same time yesterday. This has increased market cap to $202 billion which is still over 8% lower than this time last weekend. Bitcoin dominance remains a little higher at almost 54% despite its lack of movement today. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Tron Pumps Again on ‘Industry Giant’ Partnership Teaser appeared first on NewsBTC.

a month ago

Maker (MKR) Cryptocurrency Clips $750 as Dai Eyes Augur Integration

Maker (MKR) Cryptocurrency Clips $750 as Dai Eyes Augur Integration Maker (MKR), the central token of the Maker smart contract platform and the Dai stablecoin system, has experienced a phenomenal rally over the past month, bolstered a major partnership and an investment from one of the cryptocurrency industry’s top venture funds. Less than one month...

a month ago

What Is Making The Maker Token Price Upswing?

Cryptocurrencies are volatile assets, ideal for speculation. Strong price fluctuations make them hard to use in long-term contracts. Today’s surge in the Maker token price comes as Augur (REP) announces it will add DAI to the platform; making it possible to use the stablecoin in prediction contracts. Although the market is generally looking positive at the The post What Is Making The Maker Token Price Upswing? appeared first on Crypto Briefing....

a month ago


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