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A new Weekly $BURST Report is out - Aspera announcement, Eas...

A new Weekly $BURST Report is out - Aspera announcement, Easy2Burst, Burst Marketing Fund pool, Engraver v.2.2.0, a… https://t.co/Hog2Wig3Yu

8 days ago

Opinion: Why Bitcoin Will Be Just Fine

Several key events will take place on the digital money market next year that can seriously affect the situation in the crypto and Bitcoin community. In 2018, the prices of cryptocurrencies have been continuously decreasing, and Bitcoin (BTC) 00 has already fallen in price by 80% from $20,000 to $4,000. The total capitalization of the blockchain industry has decreased by 84%. If, in January, the market cap was $830 billion, then by the end of November the figure fell to $130 billion. Recently, interest in cryptocurrencies has been growing again and the market has risen to its values of April this year. The attitude of users towards digital currencies has undergone changes as well. According to Google Trends, most people are now wondering whether the bubble has burst, whether the current situation will lead to the depreciation of digital currencies and their ultimate downfall, given that the mood on the market is not very positive. Bitcoin has repeatedly dropped in price quite steeply, and if we compare its charts from 2018 with the values of 2014, we can see that the industry is currently in a similar situation that it was in four years ago. But, this situation applies only to the prices of cryptocurrencies. Much has changed since then in terms of market development, as governments have started regulating the digital industry, while some like the Chinese authorities have banned it altogether. Large financial institutions are constantly announcing plans regarding the launch of cryptocurrency-related products and integrating blockchain in their current business model. In September global banking giants UBS Group AG, Santander, Deutsche Bank, Bank of New York Mellon Corporation, and the British broker ICAP, teamed up to issue a new digital currency based on blockchain technology, which is supposed to be used for performing bitcoin transactions. However, the industry is only at the dawn of its development, so there are many obstacles that are preventing companies from entering the market. On September 20, the representatives of large Russian banks declared their readiness to work with cryptocurrencies, but they cannot start rendering such services due to the lack of regulation in the country. The banks officials also stated that there is considerable customer interest in digital currencies, and announced active testing of blockchain technologies. Many large organizations are preparing to enter the cryptocurrency market in 2019. These events can significantly change the situation in the industry, and the price of Bitcoin will rise once again, as predicted by such well-known experts like head of Fundstrat Tom Lee with his $15,000 mark forecast, Chairman of the New York Stock Exchange Jeff Sprecher with his “Bitcoin and digital assets are here to stay” appeal, and billionaire Mike Novogratz. The latter believes the market may see new highs in 2019: “I fundamentally think you’re going to see big adaption in 2019, 2020,” he said. “Lots of the items in the digital world, the e-gaming space, are low value items so I think people will be more comfortable participating in blockchain.” Bakkt — a Platform For Institutional Investors The operator of the New York Intercontinental Exchange (ICE) is preparing to launch Bakkt, a platform for institutional investors. Its first product will be Bitcoin futures with physical asset backing. The plan was that the platform would start working on December 12, 2018, but the start had to be postponed to January 24, 2019, due to the large influx of customers. At the end of November, head of Bakkt, Kelly Lefler, said that the current value of Bitcoin is not important for the company. In her opinion, it is now important to compensate for the missing infrastructure elements and unimplemented application scenarios, which will positively affect the development of the industry. Asked if price is important, Kelly Loeffler, CEO of @Bakkt, says it is immaterial to what the new platform is working on: "The price is being expressed but there’s a lot of missing infrastructure and use cases." #ConsensusInvest — CoinDesk (@coindesk) November 27, 2018 Fidelity Investments The Fidelity Investments holding company, which manages assets worth $2.1 trillion is launching its own cryptocurrency investment platform. The organization will not open an exchange for trading digital currencies, as it is preparing to release products for storing large volumes of assets of institutional investors who are interested in the industry. According to Fidelity President, Tom Jessop, market analysts, hedge fund managers, and family capital management divisions are actively involved in the development of cryptocurrency-related products and instruments. As such, the expert believes that the situation in the industry can change for the better. Bitcoin ETF and SEC The US Securities and Exchange Commission (SEC) is studying an application to launch a Bitcoin ETF from the SolidX cryptocurrency startup, which filed the applic

9 days ago

Bitcoin Bottom: Bitcoin Could Hit $1k if $3k Support Fails Fear Crypto Technical Analysts

Down 80 percent from its all-time high (ATH), trader Brian Stutland says a bounce for BItcoin might be coming as “this is the bottom.” While according to technical analyst Crypto Yoda, price action doesn’t reflect a strong bull spike and further $1k is a real possibility. Bitcoin Tanking, Groundwork for a Technical Bounce? Bitcoin is crashing, having dropped 80 percent from its peak. At the time of writing, Bitcoin has been trading at $4,024 while registering 24-hours gains of over 8 percent. The leading cryptocurrency is managing the daily trading volume of $6.2 billion. Bitcoin 1-year price chart, Source: Coinmarketcap According to trader Brian Stutland, Bitcoin could be laying the groundwork for a technical bounce after snowballing. He said, “my be this is the bottom”. Stutland explained that Bitmain is coming out with a new mining hardware that works faster than their previous counterparts. Whenever new versions enter the market, he says, prices takes a dump. He further shared with CNBC’s Futures Now that the bubble has burst as it goes down 80 percent from $20,000 peak and that’s when the bottoming process starts. Crypto trader, Crypto Hustle shared similar positive sentiment while further Tweeting about the new developments, $BTC breaking out a line to get the party started...https://t.co/THq4MbBRCw — ฿TF%$D! (@CryptoHustle) November 28, 2018 Price Action Indicates Negative Implications The market is in green today but it doesn’t take much for it to turn red. Crypto enthusiast and popular technical analyst Crypto Yoda is not positive of the green movement as he says, price action not convincing imho. expecting capitulation soon, will be quick & violent. ur favorite engine might not be able to handle the volatility — plan ahead. strong support around $2800-$3000. if 3k support fails it won't stop before $1000-1200, be prepared, almost there. pic.twitter.com/LB9azfx8pF — CryptoYoda (@CryptoYoda1338) November 27, 2018 Despite 1k being a real possibility, he says “probability of stopping at 3k zone is significantly higher than 1k, but both targets in the range of possibility.” As for how far this bear market could extend, Crypto Yoda comments, “Last breaths of the bear currently IMHO. As said, quick capitulation, then hefty rebounce. Days to weeks.” Despite the crypto market being red, not everyone is hopeless as Binance CEO, Changpeng Zhao shares a positive sentiment, Uncertainty = opportunity https://t.co/IS923KaTaq — CZ Binance (@cz_binance) November 28, 2018 Crypto enthusiast Ruigo shares, Regardless of price, Bitcoin is still: The soundest money to dateLimited to 21 million coinsResistant to censorshipRunning for ten yearsNon-political moneyPseudonymousPermissionlessDecentralizedIrreversibleFungibleTrustlessGlobal — Rui Gomes (@ruigomeseu) November 27, 2018 The post Bitcoin Bottom: Bitcoin Could Hit $1k if $3k Support Fails Fear Crypto Technical Analysts appeared first on Coingape.

13 days ago

Bitcoin Bottom: Bitcoin Expected to Hit $1k if $3k Support Fail As per Crypto Technical Analysts

Down 80 percent from its all-time high (ATH), trader Brian Stutland says a bounce for BItcoin might be coming as “this is the bottom.” While according to technical analyst Crypto Yoda, price action doesn’t reflect a strong bull spike and further $1k is a real possibility. Bitcoin Tanking, Groundwork for a Technical Bounce? Bitcoin is crashing, having dropped 80 percent from its peak. At the time of writing, Bitcoin has been trading at $4,024 while registering 24-hours gains of over 8 percent. The leading cryptocurrency is managing the daily trading volume of $6.2 billion. Bitcoin 1-year price chart, Source: Coinmarketcap According to trader Brian Stutland, Bitcoin could be laying the groundwork for a technical bounce after snowballing. He said, “my be this is the bottom”. Stutland explained that Bitmain is coming out with a new mining hardware that works faster than their previous counterparts. Whenever new versions enter the market, he says, prices takes a dump. He further shared with CNBC’s Futures Now that the bubble has burst as it goes down 80 percent from $20,000 peak and that’s when the bottoming process starts. Crypto trader, Crypto Hustle shared similar positive sentiment while further Tweeting about the new developments, $BTC breaking out a line to get the party started...https://t.co/THq4MbBRCw — ฿TF%$D! (@CryptoHustle) November 28, 2018 Price Action Indicates Negative Implications The market is in green today but it doesn’t take much for it to turn red. Crypto enthusiast and popular technical analyst Crypto Yoda is not positive of the green movement as he says, price action not convincing imho. expecting capitulation soon, will be quick & violent. ur favorite engine might not be able to handle the volatility — plan ahead. strong support around $2800-$3000. if 3k support fails it won't stop before $1000-1200, be prepared, almost there. pic.twitter.com/LB9azfx8pF — CryptoYoda (@CryptoYoda1338) November 27, 2018 Despite 1k being a real possibility, he says “probability of stopping at 3k zone is significantly higher than 1k, but both targets in the range of possibility.” As for how far this bear market could extend, Crypto Yoda comments, “Last breaths of the bear currently IMHO. As said, quick capitulation, then hefty rebounce. Days to weeks.” Despite the crypto market being red, not everyone is hopeless as Binance CEO, Changpeng Zhao shares a positive sentiment, Uncertainty = opportunity https://t.co/IS923KaTaq — CZ Binance (@cz_binance) November 28, 2018 Crypto enthusiast Ruigo shares, Regardless of price, Bitcoin is still: The soundest money to dateLimited to 21 million coinsResistant to censorshipRunning for ten yearsNon-political moneyPseudonymousPermissionlessDecentralizedIrreversibleFungibleTrustlessGlobal — Rui Gomes (@ruigomeseu) November 27, 2018 The post Bitcoin Bottom: Bitcoin Expected to Hit $1k if $3k Support Fail As per Crypto Technical Analysts appeared first on Coingape.

13 days ago

Crypto Exec: Bitcoin Will Remain Under $5,000 For At Least Six Months

Although the crypto industry has its fair share of over-ardent speculators, many of which are blinded by visions of grandeur, high ceilings, and chandeliers, others in this nascent line of business have erred on the side of caution. One such skeptical optimist, known for his intriguing, yet controversial statements, has even claimed that Bitcoin won’t see a breakout until 2019 at the earliest. Civic CEO Not Sold On Short-Term Bitcoin Bullishness This soothsayer in question is Vinny Lingham, who CNBC recently dubbed the “Oracle of Bitcoin” during a recent installment of Fast Money. Lingham, CEO of blockchain-centric identity ecosystem Civic, cut out some time to speak to Fast Money’s panel on Monday, discussing how he expects for the crypto market to progress. Winter is coming for #crypto! The Oracle of #bitcoin @VinnyLingham says to hunker down for a brutal stretch. pic.twitter.com/vRHffh0Bf7 — CNBC's Fast Money (@CNBCFastMoney) November 26, 2018 Asking the million dollar question, CNBC anchor Mellisa Lee queried Lingham, also an investor on South Africa’s Shark Tank, about where BTC could be headed next. Taking the question in stride, ballyhooing his normal sentiment, the Civic executive noted that Bitcoin will likely remain range-bound between $3,000 and $5,000 “for a while.” Giving his claim more specificity, Lingham explained that trading within the aforementioned $2,000-wide range is likely to continue for a minimum of three to six months, a common timeline in the eyes of Bitcoin’s short-term bears. Interestingly, the savant noted that as there are boatloads of buying pressure at $3,000, as it stands, that specific support level has a high possibility of holding its ground for months on end. Still, the entrepreneur added that if a convincing breakout isn’t established by the end of Bitcoin’s six-month range, a foray under $3,000 wouldn’t be out of the realm of possibility. So, the fact of the matter remains that for the time being, Lingham is hesitant to call for crypto’s next bull run, which could come at the drop of a dime. The South African entrepreneur, who has been accused of being in bed with crypto’s bears, even recently bet against Ronnie Moas, a diehard Bitcoin bull, at Las Vegas’ World Crypto Con. At the event, which saw its attendance dwindle as bears roamed free, Moas touted his thought process that BTC was poised to surpass $28,000 by 2019. Although Lingham wasn’t against Bitcoin’s long-term prospects, the Civic chief challenged Moas, prompting the Standpoint Research director to take a $20,000 bet regarding the ambitious forecast. Moas’ evidently subject to tunnel vision, accepted the bet, just before Lingham concluded this bout of banter by adding that “Crypto Winter” has yet to strike with nothing held back. Fundamentals, Not Speculation Touching on his reasoning behind this short-term bearishness, a far cry from Tom Lee’s $15,000 prediction for Bitcoin, Lingham explained that in his eyes, by February 2017 it was clear that a cryptocurrency bubble was festering in this industry’s underlying folds. Related Reading: The Crypto Bubble Hasn’t Burst, It Hasn’t Even Begun Yet He then added that at the time, instead of fundamentals, the ideal price catalyst, speculation was driving Bitcoin’s move upwards. And interestingly, he claimed that the most recent bull run and the subsequent crash could have even jeopardized a key fundamental factor for Bitcoin, the approval of a crypto-backed, U.S.-based ETF, as regulators don’t have a penchant for parabolic price action. Lingham added that the same goes for institutional investors. Adding to the pile of bad news, Lingham added that Bitcoin’s narrative has been misconstrued over time, with BTC now being dubbed the digital store of value, rather than the decentralized payment network that it sought out to be. While this isn’t bearish in and of itself, the Civic CEO explained that other blockchain networks could overtake Bitcoin in terms of its value in day-to-day payments. But, aiming to end his segment on a high note, Lingham explained that if investors are risk-philic, now could be an optimal time to bet on a turnaround in the value of Bitcoin and its altcoin brethren. Featured Image from Shutterstock The post Crypto Exec: Bitcoin Will Remain Under $5,000 For At Least Six Months appeared first on NewsBTC.

13 days ago

Kaspersky Lab: Blockchain and Crypto Industries Will Not Experience Any Significant Growth in 2019

According to a recent report by Kaspersky Lab, the crypto sector will see a surge in criminal activities in 2019. Per the report, ransomware and cryptojacking threats have been prevalent in 2018 and would continue throughout 2019. Kaspersky researchers also believe that the blockchain ‘bubble’ would burst soon as some expectations about this technology are not feasible. Per the researchers, any applications of the blockchain beyond cryptocurrency lacks the essential achievements to make a significant impact. The report also claims that crypto payments will not become mainstream as few companies are willing to accept Bitcoin as an alternative payment method. (KE)

14 days ago

Kaspersky Lab Predicts No Real Growth for Blockchain and Cryptocurrency in 2019

Cryptocurrency users are subject to many different types of external threats. The perceived anonymity associated with Bitcoin and altcoins tends to attract criminal activity. A new Kaspersky Lab report confirms new threats will arise in 2019. It is now up to cryptocurrency users to take sufficient security precautions. The 2018 Kaspersky Lab Threats Came True The Bitcoin industry has seen its fair share of problems so far. Fake ICOs, exchange hacks, and data theft are just some of the examples. The real threats come in the form of cryptojacking, ransomware, and so forth. All of these threats need to be addressed properly. As users try to come up with countermeasures, criminals are already coming up with new avenues of attack. The latest report by Kaspersky Lab confirms there have been more threats to contend with as the industry continues to mature. Their primary concern still pertains to the future of ransomware. This threat still remains present in 2018 and will continue throughout 2019. The shift will focus from encrypting data to malicious cryptocurrency miners. Cryptojacking and ransomware can make for a very potent combination. Criminals already reap the rewards from stealthy crypto mining over waiting for a Bitcoin payment. Kaspersky researchers expect this threat to become more apparent. Additionally, the report warns about web mining efforts. Initial cryptojacking threats emerged in the form of malicious mining scripts on websites. While that trend is less apparent now, it seems the campaigns will be resumed. Whether or not this will coincide with another price surge for Bitcoin, is difficult to predict. At these low prices, some criminals may try to explore other lucrative options at their disposal. The Blockchain Industry Shift One particularly interesting note in the report pertaining to initial coin offerings. Kaspersky researchers are confident the blockchain “bubble” will begin to burst fairly soon. More specifically, there are expectations surrounding this technology which are not necessarily feasible. Any use of this technology beyond the cryptocurrency industry lacks the necessary achievements to make a meaningful impact. The researchers consider 2019 a good time to stop trying to make this technology work. Unsurprisingly, the report doesn’t see a bright future for cryptocurrency payments. More specifically, there are fewer companies willing to accept Bitcoin or alternative cryptocurrencies. Claiming how it “doesn’t make sense for legitimate businesses to deal in crypto payments’ may be a stretch too far. One cannot deny merchant adoption has been a major struggle for years on end. There has not been any real improvement since, as these assets are mainly used for speculation. It is evident the Kaspersky Lab report doesn’t envision a great future for cryptocurrency. That is unfortunate, although the year 2018 has been a strong wake-up call as well. Falling prices and a lack of adoption only confirm there is still a long road ahead. The future is always difficult to predict, thus this report needs to be taken with a grain of salt. Do you agree with Kaspersky Lab’s predictions? Why or why not? Let us know in the comments below. Images courtesy of Shutterstock The post Kaspersky Lab Predicts No Real Growth for Blockchain and Cryptocurrency in 2019 appeared first on Live Bitcoin News.

14 days ago

Ripple Price Analysis: XRP/USD is Bullish, Coin a Store of Value

Latest Ripple News Considering prevailing market conditions, it is clear that it has been a tough week for market participants. With double digit losses and breaks below important support levels, the meltdown was—and continues to be unforgiving. But even as participants despair, XRP did emerge as the winner of the “store of value” race edging Bitcoin and flipping Ethereum as the second most valuable coin in the space. Read: The Crypto Bubble Hasn’t Burst, It Hasn’t Even Begun Yet Ethereum is teetering and as the gap widen, mainstream hopium is that XRP would soon replace Bitcoin at the mantle. From our price charts, XRP is down 17 percent in the last week and as a safe harbor during this storm, the expanding number of partnerships, the zeal of the community advocating for “base” at Binance and on-chain technological advancement as the launch of xRapid and xVia to complement xCurrent is giving it a foothold in the space. The xrp base shill is strong. Let's get it out of your system, and put all your shills under this one tweet, and let's see how much we get. https://t.co/usiISCtuSj — CZ Binance (@cz_binance) November 18, 2018 Interesting Read: Edward Snowden Bullish On Crypto: Blockchain Money Makes Sense Of course, this is a step in the right direction for a platform that draws it value from offering banks solutions that help them move funds faster, cheaply and more efficiently. Ripple’s aim is to create this maze of banks, the internet of value allowing for instantaneous movement of funds. XRP/USD Price Analysis Weekly Chart Even though losses are sharp as bears press the sell pedal, XRP/USD is technically bullish. It is our expectations that price shall print higher by close of 2018. It’s easy to see why. In an effort versus result scenario, bulls are obviously shoring prices. Note that in the midst of marauding bears, XRP/USD is yet to print below 25 cents for a complete reversal of week ending Sep 23 gains. As a matter of fact, prices are trading above 35 cents-40 cents support zone. As long as it remains that way, traders can begin picking up longs in lower time frames with targets at 80 cents or higher. This preview shall no longer be valid if losses extend below 35 cents. In that case sellers would most likely drive prices below 25 cents towards 15 cents or lower. Daily Chart As it is XRP/USD is now trading within our ideal buy zone set between the 78.6 percent and 38.2 percent Fibonacci retracement zones. In line with our XRP/USD trade plan, we suggest aggressive traders to buy at spot prices with stops at 35 cents—the 78.6 percent Fibonacci retracement level with first targets at Sep 2018 highs of 80 cents. On the other hand, conservative traders should wait for strong gains above the 60 cents before buying on dips with targets at $1.65. Conversely, dips below 35 cents cancel this preview. In that case, aggressive traders ought to sell at spot with stops at the highs of that breakout bar as they aim for 15 cents. All Charts Courtesy of Trading View Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision. Ripple Price Analysis: XRP/USD is Bullish, Coin a Store of Value was last modified: November 23rd, 2018 by Dalmas NgetichThe post Ripple Price Analysis: XRP/USD is Bullish, Coin a Store of Value appeared first on NewsBTC.

16 days ago

CryptoOracle’s Lou Kerner Says Bitcoin Will Be a Survivor Like Amazon During the Dot-com Bubble

Venture capitalist Lou Kerner from CryptoOracle thinks that Bitcoin will come out victorious from the current turmoil in the cryptocurrency industry. He said that people who have held on to Bitcoin over a two-year period have always been rewarded. In the latest interview with CNBC, he also drew comparisons between Bitcoin and Amazon and how the company survived the dot-com bubble, trading at $6 per share to become a trillion-dollar business over the following two decades. The Investment Horizon Has to Be Long CryptoOracle supports the “decentralized digital economy,” and Kerner himself is an advocate of long-term investments. He noted that in any given two-year period, Bitcoin holders were rewarded in the market. He stated that in 1997 during the dot-com bubble Amazon went public for $18 per share, and its value rose to $300 by 1998. However, after the dot-com bubble burst, Amazon’s share price dropped by over 95% and was trading at $6 (in 2001), only a third of its issue price. However, the company more than made a comeback, becoming the second company in the US to reach a trillion-dollar valuation, with an all-time-high share price of over $2000 in September 2018. He noted that Bitcoin investors must prepare for far more volatility. This could be in part because cryptocurrencies are still a very new kind of market and may take time to mature. Trusting Bitcoin to Replace Gold Kerner also explained why the crypto markets have been bearish over the past few months. He said: “Crypto has been so weak because most of it there’s no underlying value outside of confidence. Gold is an $8 trillion thing.” Commenting on Bitcoin’s value and its future, he added: “I think it’s a store of value. I think it’s the greatest store of value ever created. It should surpass gold over time. It won’t happen overnight.” Kerner is also a firm believer of Amara’s law which states that the impact of great technological changes is underestimated in the long run and overestimated in the short term, which means that staunch Bitcoin supporters must continue to hold on. CryptoOracle’s Lou Kerner Says Bitcoin Will Be a Survivor Like Amazon During the Dot-com Bubble was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

16 days ago

North America: Crypto and Blockchain News Roundup 16-22 November 2018

North America Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country. USA Ponzi Scheme Figure Arrested and Extradited to the US: OneCoin’s public face Sebastian Greenwood has been arrested and extradited to the US after the company collapsed amid Ponzi scheme allegations. Greenwood was captured by authorities in Thailand who facilitated the transfer back to his country. The Federal Bureau of Investigation (FBI) has a USD 400 million indictment against Mark Scott, and Greenwood is also named. He disappeared back in 2016 just before the crash of the OneCoin scam. Crypto VC Compares Bitcoin to Post 1990s Amazon: Lou Kerner, a Bitcoin investment VC has compared Bitcoin to the post dot-com bubble Amazon. Amazon remained strong after the bubble burst of the late 1990s and is one of the most valuable companies in the world right now. According to Kerner, the volatility is part of any long-term investment remembering how in 2013, the value was down almost 70% in one night. He said: “Nobody likes being down like this. But this is what investing in crypto is all about.” Kerner is overall positive regarding the future of Bitcoin. John McAfee Partnering with Art Firm to Auction Picasso’s Works: John McAfee, the eccentric Bitcoin billionaire has now teamed up with Maecenas and ERC-20 exchange Ethershift to auction Picasso’s paintings later this year. The initiative called Project Phoenix will plan the auction for the unnamed Picasso and made the announcement on the Maecenas website. According to the website: “The auctioning process will be executed using Maecenas technology. The newly created digital asset, the first of its kind, will be represented as a single ERC-721 token for the digitalized artwork. A fixed number of ERC-20 tokens will separately represent shared ownership in the physical asset.” It is expected that the BTC payment option will be available in the proceeding because of McAfee’s involvement. IBM and Columbia University Promoting New Blockchain Startups with Latest Courses: Two blockchain accelerator programs are being offered at Columbia University in partnership with IBM for blockchain-based firms and innovators. According to IBM: “The goal of these programs is to help network founders develop their ideas into sustainable and scalable companies offering blockchain solutions. For those already further along in their journey, the programs are designed to help them achieve scale and build successful business networks.” IBM is also willing to offer entrepreneurs and blockchain innovators access to expertise and resources for establishing new use cases and products. Former SEC Commissioner Appointed in Director Role by Blockchain Company: Former Securities and Exchange Commission (SEC) commissioner Annette Nazarath has been unveiled as a Director by blockchain company BitFury. With Nazarath’s extensive experience as a regulator, the company will have valuable insight into the workings of financial platforms and thus the ability to design their own system accordingly. Colorado Regulator Closes 4 Initial Coin Offerings (ICOs) for Violating Laws: The Colorado Division of Securities has announced the closure of 4 ICOs who were found to be violating securities laws of the state. Global Pay Net, CrowdShare Mining, Cyber Smart Coin, and Credits LLC were closed down by the government. Two more ICOs are expected to meet the same fate in the near future. A total of 24 cease and desist orders have been issued by the state commissioner in total. Canada Lawmakers Calling for AML Regulations: Canadian lawmakers are looking to tighten cryptocurrency regulations in the country to fight Anti-Money-Laundering (AML) and other illicit activities in the country. The Blockchain Association of Canada is against the new proposed legislation in the country and is asking the government to cooperate with the sector instead of imposing unilateral sanctions. 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: BitcoinNews The post North America: Crypto and Blockchain News Roundup 16-22 November 2018 appeared first on BitcoinNews.com.

16 days ago

John McAfee Tweets to Sooth the Souls of Nervous Investors

Controversial investor and software guru took to Twitter this week to calm the jangling nerves of Bitcoin investors after a tumultuous week left the flagship cryptocurrency hovering above USD 4,000. Investors may ask “why listen to John McAfee?” but they might just take a look at a recent study which revealed that the 73-year-old tech veteran was found to be the most influential figure in terms of trustworthiness when it comes to handing out trading advice. In second place, the study placed Ethereum founder Vitalik Buterin, followed by Litecoin creator Charlie Lee. In his latest tweet, McAfee makes an analogy to the bear market and winter, arguing that a “glorious spring” is around the corner, attributing the current market disruption to confusion. He points out that investors are joining the market daily, regardless of current trends and blames the current market turmoil on institutions who took “absolutely unenforceable measures to allay their fears.” Market forces will “burn out” in time, McAfee suggests and encourages the global cryptocurrency community to stick with cryptocurrencies in the long term, echoing the views of Blockstream’s CEO Bobby Lee, who suggested that Bitcoin could still threaten USD 3,000, but long-term, feels it will overtake gold: “This bear market might last another 18+ months, until the next block reward halving. That’s a long time for everyone except true believers. Enough time to scare away all of the weak long positions.” Lee certainly has an ally in venture capital partner Lou Kerner from CryptoOracle who sees gold eventually being surpassed by Bitcoin. He compared the current market instability to the early 2000 dot com burst but makes an analogy to strong coins such as Bitcoin and Ethereum and companies such as Amazon who survived the bubble and emerged to become giant players in today’s tech markets. Kerner calls Bitcoin “the greatest store of value ever created.” As to the recent drop in values, Kerner argues that “crypto has been so weak because [for] most of it there is no underlying value outside of confidence.” 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 John McAfee Tweets to Sooth the Souls of Nervous Investors appeared first on BitcoinNews.com.

16 days ago

Moving From The ICO To The DSO: Digital Security Differences

Love them or hate them, ICOs really stirred the pot. Did they stimulate global interest in blockchain technology? Absolutely. Did they represent an unsustainable speculative bubble which was bound to burst at some point? Absolutely. In fact, the whole ICO craze is a bit of a Catch-22. If the markets had remained purely driven by utility they probably wouldn’t have been as popular. But the fact that they transformed into what we might charitably describe as ‘unregulated securities markets’ has had one very positive implication for ICO investors: they are in the best position to be first movers in the rapidly-evolving digital securities market. As discussed in our previous article, the once scalding Initial Coin Offering (ICO) market has become frosty as 2018 continues to wear on. But as the ICO deal stream slows to a trickle, we are seeing the rise of the Digital Security Offering (DSO). As we dive deeper into this transformation, it’s important to understand that the ICO and the DSO are fundamentally two different things, which happen to share a common denominator. Moving from ICO to DSO The DSO is, and was always intended to be, an investment and cap management vehicle that will mostly be used for private placements and other typically illiquid asset classes, as an Angel investor this made sense to me. There are a lot of features of digital securities that help them accomplish its goal, as a vast improvement over the tedious and expensive process of creating, trading, and managing private securities (more on that in a moment). ICOs, on the other hand, were almost exclusively sold as utilities to incentivize communities building technology on a public blockchain. The “token” was intended to reward people working for the greater good of the community. The ICO was not intended to be a speculative investment vehicle - at least, not in its original form. And although there are a few unicorns out there, many ICOs will fail. This is not inherent to the model they used - startups fail all the time - but the capital raised and the global excitement around tokenization has allowed the brunt of those failures to rest on the shoulders of the retail investor. The inevitability of failure, and the reasons for success So what happened, to create this speculation? Due to the frictionless nature of trading tokens on the blockchain investors began to do what they do best - they speculated, traded, and rode the wave all the way to the shore. Markets were born, prices fluctuated (artificially or authentically), trades were made, and for anyone with a background in securities, it became very apparent that the “utility” notion had transformed into a budding unregulated securities market. Dana Farbo, COO of Augmate, puts it bluntly: “Regardless of whether this token is used as a part of the platform or not, a company that insists on going the route of a utility tokens with investors who hope to gain on the increasing value of the token is risking their business and possibly the livelihoods of its employees, business partners, investors, and others.” I mentioned that the silver lining for ICO investors is that they are in a fantastic position to be among the first to explore the digital securities offering. And that’s true - the media they consume, their comfort with physically-intangible assets, their understanding of the technology underpinning many of the projects that are seeking crowdfunding - all of these factors are advantages that non-crypto investors do not possess. But after the ICO model has gone supernova, what real benefits are there for retail investors? And what’s the safety net? Let’s take a closer look at some key components for DSOs: Regulatory Compliance Digital securities, as issued and managed by reputable issuance platforms like Securitize or Polymath, apply global regulatory rules to the lifecycle of the digital share or token. ICO tokens were often sold without regulatory clarity. There is, in many cases, nothing that legally protects the token owner from nefarious or ignorant acts committed by the issuer. Asset Backed Digital securities are backed by an asset of value. This can be the equity of a company, fractional ownership in an apartment complex or the payout of dividends from quarterly profits. ICO-acquired tokens usually have no assets backing their value. They are offered as a ‘utility;’ a means in accessing a service on a communication network. One pays money for tokens that grant access to the service. Digital Securities are not Bitcoin-paired Digital securities gain their value from the net asset value (NAV) of the asset backing the product, and can trade at a premium or a discount to their NAV. This is the expected behavior of any asset-backed security. Digital securities will be paired with fiat. ICO acquired tokens that trade on exchanges are often correlated to the price of Bitcoin. This is a tricky situation. Very few tokens from ICOs have any dependence on the blockchain technology

20 days ago

Analyst “Incredibly Bearish” On Bitcoin (BTC), $1,000 Possible

Regulators Will “Undoubtedly Burst Bitcoin, Crypto’s Balloon” After a multi-day bout of non-action, which followed Bitcoin (BTC)’s unexpected foray under $5,800 to establish a new year-to-date low, BTC and its altcoin brethren continued to sell-off into Monday. In a matter of hours, trading volume ramped up (yet again), with crypto investors rushing en-masse to liquidate their holdings. This, as you are likely aware of, catalyzed a further move lower, sending BTC under $5,000 in a frenzied move lower, even though short-term trend indicators pointed to the fact that the asset was drastically oversold. As it stands, bitcoin currently goes for $4,930 a pop, resulting in a market capitalization of $85 billion, a far cry from December 2017’s peak. Since the asset’s most recent collapse on Monday morning, the market has slowed, with BTC finding a home around a tad above $4,800, one of the crypto market’s strongest levels of support in the eyes of optimists. Stephen Innes, head of Asia Pacific trading at Oanda, told MarketWatch: The digital token fell as much as 6.3% to $5,202, having plunged through a critical resistance level Wednesday after a period of relative tranquility. Although some pointed to Bitcoin Cash’s hard fork and the controversy surrounding this contentious event as the sell-offs’ sole catalyst, not-so convinced investors chalked up Bitcoin’s collapse to a number of other factors — an institutional liquidation, the collapse of ICOs, and a simple breakout after week’s of “stablecoin zone.” However, while all these purported catalysts have their merits, some begged to differ, including Innes, the aforementioned Oanda trader. Discussing the matter with MarketWatch’s Aaron Hankin, the capital market trader noted that he “remains incredibly bearish on BTC,” explaining that the $1,000 price level is a possibility, a mere 50% off of BitMEX CEO’s $2,000 call. Acknowledging his bias slightly, Innes went on to explain that he is coming from a longstanding and “unwavering” view that regulators, centralized authorities, and traditionalist bankers will undoubtedly want to push back against digital assets. But, the fact of the matter is that centralized entities are scared, simply put. They’re scared of the power that cryptocurrencies and blockchain technologies bestow on consumers, and they’re worried about the rise of decentralized money. Still, failing to recognize this, the Oanda trader then noted that regulation will “undoubtedly burst crypto’s balloon, as the $5,000 cliff edge is approaching, [and] fast.” Speaking with Bloomberg, Justin Litchfield, chief technology officer of ProChain Capital, echoed this sentiment surrounding crypto-related regulation and push-back. Litchfield, commenting in the context of crypto’s most recent drawdown, explained: The sell-off is related to enforcement, which is almost certainly underway, Projects are being made to return investor money, which, after having spent a ton of money marketing their $100 million ICO on a lavish party-filled road-show that was the norm for this vintage of ICOs, will be tough. The industry insider is presumably touching on the SEC’s involvement with Aircoin (Airfox) and Paragon, which, as reported by Ethereum World News, turned out badly for the two crypto startups. More specifically, the two firms were required to pay hundreds of thousands of dollars worth of fines, before agreeing to compensate investors affected by their illegal token sales (ICOs). Although the SEC’s move against two startups is far from an industry-wide crackdown, many fear that this is just the beginning of the end for ICOs, which arguably catalyzed a majority of 2017’s crypto boom. Title Image Courtesy of Marco Verch Via Flickr The post Analyst “Incredibly Bearish” On Bitcoin (BTC), $1,000 Possible appeared first on Ethereum World News.

21 days ago

Cryptocurrencies Plummet, Bitcoin Likely to Fall Further Says Analyst

After a week of poor performance, Bitcoin has continued its descent, and has now crashed below its previous 2018 lows of $5,500, setting fresh lows at $5,100. Bitcoin’s unprecedented drop has led many major altcoins to fall 10% or more, and according to one analyst, more blood is likely to come in the near future. At the time of writing, Bitcoin (BTC) is trading down 9% at its current price of $5,100, setting a new year-to-date low. BTC’s latest drop comes less than one week after it fell from the $6,300 region, where it had relative stability, down to lows of $5,400. The latest market carnage has led the overall cryptocurrency market cap to fall to just over $167 billion, a level that hasn’t been seen since October of 2016. While speaking to MarketWatch, Stephen Innes, the head of Asia Pacific trading at Oanda, said that the regulatory hurdles that Bitcoin will face in the coming months will likely push its price below $5,000, opening the gates for even greater losses. “The digital token fell as much as 6.3% to $5,202, having plunged through a critical resistance level Wednesday after a period of relative tranquility. I remain incredibly bearish on BTC with the $1,000 level looking as likely as $10,000. But this is from a longstanding and unwavering view that regulators and the banking system will continue to push back against the rise of virtual markets, and will undoubtedly burst crypto’s balloon as the $5,000 cliff edge is approaching fast.” It remains unclear as to whether or not Bitcoin’s bulls will be able to defend $5,000, which appears to be a critical psychological level. Related Reading: Tokens Plummet 15-20% Following SEC’s Crackdown on ICOs, Dark Days Ahead Altcoins Plunge, XRP Holds Steady As usual, BTC’s price led the general markets, causing many altcoins to drop 10% or more over the past 24-hour trading period. The plunge has, so far, been led by Ethereum (ETH), Litecoin (LTC), and Monero (XMR), which are trading down 11.6%, 10.4%, 12%, and 15% respectively. XRP, however, has been able to avoid much of the carnage so far, and is currently trading down 3% at its current price of just under $0.50. Coinciding with Bitcoin’s drop last night, XRP fell to lows of $0.47, but quickly recovered to highs of over $0.50 before settling at its current price. In addition to avoiding today’s widespread losses, XRP has also recovered much of the value it lost from last week’s market drop, when it fell from approximately $0.52 to lows of $0.42, before climbing back towards its current levels. Because of XRP’s stellar performance over the past week, it has solidified its position as the number two cryptocurrency by market capitalization, which is currently sitting $4 billion higher than that of ETH’s. The next few days will prove to be critical for bulls who are looking to regain market dominance by pushing Bitcoin’s price back up, as if it breaks below $5,000 there will likely be significantly larger drops to come. Featured image from Shutterstock. The post Cryptocurrencies Plummet, Bitcoin Likely to Fall Further Says Analyst appeared first on NewsBTC.

21 days ago

Jimmy Nguyen, nChain’s CEO Says Bitcoin ABC Rented Their Hash Burst from the Bitcoin (BTC) Network

According to Jimmy Nguyen, nChain’s CEO, Bitcoin Cash ABC either rented or subsidized their hash burst from the Bitcoin network. According to him, this move by Bitcoin Cash ABC sought to increase its support within the BCH community artificially. He went on to say Bitcoin Cash SV had access to thousands of petahash worth of support but chose to avoid using it to evade the problems it would bring in the future. Jimmy then accused BCHABC of hypocrisy and said BCHSV is using legitimate ways to win the hash race. (KE)

22 days ago

Hash Wars: Day Two and the Anticipation for BCH Trading Platforms to Reopen

It has been close to 24 hours since the Bitcoin Cash (BCH) blockchain split on Nov. 15, and the community is assessing the first day of battle. At the time of writing, both chains are still operational and the ABC chain has a 32-block lead on the SV chain. Now many BCH supporters are patiently waiting to find out when infrastructure providers will resume deposits, withdrawals, and trading across the entire ecosystem. Also read: Hash Wars: ABC Chain Leaps More Than 50 Blocks Ahead Some Believe the Hash War Will Continue The BCH hash war has continued into the second day of network warfare, protocol activity, and an abundance of discussions across social media. A clear victor has not yet been decided, according to SV supporters who believe the hash war is “not a sprint, but a marathon.” Currently, the ABC chain is 32 blocks ahead of SV and it has more hashrate and accumulated proof-of-work behind it, according to Coin Dance cash, and Forkmonitor.info data. Still, the SV chain has continued to chug along and has about 5,266 PH/s worth of hashrate compared to the ABC chain’s 7,237 PH/s. Moreover, SV supporters, specifically Nchain’s Craig Wright and Coingeek’s Calvin Ayre, have stated the next day, Nov. 16, that the hash war is not over. “In our hash competition, we have seen the ABC team bring on their strongest sprinters,” explained Wright on Twitter on Nov. 16. “We are just at the trials and not yet on the finals to Marathon and they have made a remarkable burst to do a 9.9 second 100m (unfortunately in the wrong direction).” the Nchain executive adds. At the time of publication, the ABC chain has been roughly 30 or more blocks ahead of the SV chain. Many SV supporters still believe Wright will continue to wage war and this can be seen across social media and cryptocurrency-centric forums. Coingeek’s Calvin Ayre agreed with Wright’s words and issued a similar statement during the early morning hours on Friday. “The BCH hash war will not be decided in 1 or 2 days, but over many days and possibly weeks by on-going miner votes with sustained Proof of Work — Until a dominant chain emerges, cryptocurrency exchanges, wallet and service providers are advised to remain neutral, and to run a Bitcoin SV node to be prepared for the best interests of users,” Ayre detailed. The two networks’ hashrates as of 11:00 a.m. EST on Nov. 16, 2018. Orange (ABC) and Red (SV). The Wait for Service Providers to Assess the Situation On the other hand, the further the ABC chain gets and the more proof-of-work is accumulated, ABC supporters seem confident that victory is very close. Many BCH proponents are now waiting for infrastructure providers to explain how they will list the newly forked chains. ABC backers believe that a large portion of wallet services, exchanges, and payment services will side with ABC. This belief is due to the overwhelming amount of company support garnered when infrastructure providers published contingency plans with most supporting the ABC roadmap. However, it seems BCH service providers are still assessing the situation and may not publicly announce plans until more time has passed. Many BCH proponents shared their views on Twitter on Nov. 16, 2018. Further, the research team from Bitmex has been monitoring the situation with the organization’s recently published tool. Bitmex Research detailed to its Twitter followers on Nov. 16 that SV miners are losing a ton of money and estimated that they will lose $280,000 a day if they continue. Further, this estimate is calculated with the ability to sell SV coins at a spot price of $100, but the ability to sell these coins is pretty much non-existent. Cryptocurrency luminaries show they are curious to when the SV side of the chain releases a block explorer. ABC proponents were quite pleased with the outcome so far and the forum r/btc is filled with supporters showing enthusiasm. The Bitcoin Cash developer Shammah Chancellor (Micropresident) was very thankful and expressed his gratitude on Twitter. “Big thanks to Roger Ver, Bitcoin.com, all the p2pool miners, Btc.com, Antpool, and everyone else who is supporting the BCH chain with their hash — Continuing to work towards bringing peer-to-peer cash to the world,” the developer explained. Lots of BCH supporters have expressed that the war was not good for the Bitcoin Cash ecosystem in general. However, even though many were celebrating yesterday’s battle, many BCH supporters had shown distaste for the entire situation. Bitcoin Cash and XT lead developer Tom Harding explained that the split has caused some damage. “Bitcoin Cash has splintered its network effect, pushed the overall price below $400, and wasted a lot of energy,” Harding stated. BCH developer Jonathan Toomin responded to Harding’s tweet and agreed with the XT developer. “Unfortunately, you are totally right,” said Toomin. What did you think about the first day of the hash war? Do you think it is over and there is a victor? Or do you think the ha

25 days ago

Daily Berminal Brief: Crypto Market Begins to Show Signs of Recovery

Following the large, rapid drop in prices yesterday that left many scratching their heads as to the cause, they crypto market is beginning to show signs of stabilization and recovery among some of the stronger projects. Bitcoin is currently trading at $5,646, a decrease of 1.24% on the 24-hour chart, while Ethereum is down 0.31% and trading at $180.84. Out of the recent market carnage, a new coin has burst into the top 100 as Nasdacoin (NSD) is now ranked #68 following a 70.13% increase on the 24-hour chart with a 24-hour trading volume of more than $1.3 million. (JF)

25 days ago

Make it or break it: What makes a crypto project viable

Only forty-three ICOs were launched in 2016, which raised over $95 million. Since there were just a few blockchain projects in the market, it was relatively easy to achieve success. NEO, Lisk, DAO, Iconomi, Digix, Waves, and others were among the popular projects that year. NEO, which is often called a Chinese Ethereum, was at the height in those years and managed to attract $4.5 million. The ICO market burst in 2017 when crypto projects began to sprout like mushrooms after the summer rains. Their number significantly grew up to 210. Imagine that startups raised over $3 billion through ICOs last year! The most recognizable ones included EOS, Bancor, Bankex, Filecoin. The latter was the most successful among them and got $257 million. For 2018, 537 ICOs with a total volume of more than $13.7 billion has been conducted over five months, according to the audit firm PwC. The ICOs of EOS and Telegram should be mentioned here since they generated $4.1 billion and $1.7 billion, respectively. Unfortunately, scammers and weak projects without any powerful plans and ideas appeared in the industry together with really cool ICOs. That’s why nearly 50% of them lost based on the study of the consulting and research company GreySpark Partners. Successful ICO is only half the battle. The major task is to turn into viable and strong projects. To reach this goal, the ventures should have a precise idea capable to unite a wide range of like-minded persons. The clear concept allows ICOs to shine and let them move on. What are the most promising projects of 2018? Entrepreneur, a famous American business magazine, named four best blockchain companies of the current year. The authors are confident that these four projects are able to utilize the awesome blockchain technology “in an open, innovative, and professional manner”. Meet AdHive, Blue Whale, VeCap, and the Noah Project. AdHive is an AI-controlled influencer marketing platform. It offers a fully automated, blockchain-based solution for mass placement of native video ads on influencers’ channels. Blue Whale is a decentralized platform for freelancers. Its aim is to create the largest blockchain-driven ecosystem where self-employed people can do what they like and receive their earnings without any problems. The German-based project VeCap is going to struggle with the comfort and security system vulnerabilities employing smart solutions. Founded in 2016, the Noah Project has already gained the credibility of crypto community and successfully reached several milestones on its roadmap. The ultimate goal of the project team is to build an ecosystem powered by blockchain and cryptocurrencies, as well as gather crypto enthusiasts under the same roof. To bring this idea to life, the Noah Project is going to make their response to the Swill Zug and create a crypto hub in Asia. It is expected to bring together traders, entrepreneurs, and other people interested in cutting-edge technologies and ready to use them. The hub to be called Noah City is now under construction in Horizon Manila, the future largest business district in the Philippines. In addition, the project team is developing a future crypto harbor for travelers, who will be able to utilize digital money not only for business but also for entertainment. Noah Resort will be located at the picturesque Dakak Beach Resort. Guests will get a wonderful chance to relax and participate in various sports activities. Besides, the team has developed a blockchain-based remittance system. Thanks to this solution, overseas workers will be able to reduce their money transfer fees by several times and send more earnings to their families. The Noah Project is based on a token known as Noah Coin, using which users will get various discounts and bonuses. It is currently available on HitBTC, Changelly, BTC-Alpha, Mercatox, Livecoin, and YoBit. What’s more, Noah Coin is listed on CoinPayments, one of the most popular cryptocurrency payment processing platforms. The service supports over 880 cryptocurrencies and allows traders to deal with tokens all over the world. This achievement allowed the team to represent Noah Coin to millions of merchants and strengthen its positions in the market. Gradually meeting its high-flying targets, the Noah Project is firmly moving ahead in order to create a world without bounds and help people enjoy all the wonderful opportunities provided by cryptocurrencies and blockchain. As you see, only those ventures that have distinctive ideas and goals can survive today. The hype times are gone, and the market participants are more exacting now. To learn more about the Noah Project, visit the official website, get in touch with the team in the Telegram chat and follow the project on Facebook and Twitter. This is a paid-for submitted press release. EWN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned

a month ago

Crypto Crash May Be The Final Bear Attack

The Great Crypto Crash of November 14th, 2018 will be remembered for one reason: and it’s not because it’s the day your iPhone finally self-immolated in a Blockfolio-induced panic. It will be remembered more for the feast of crypto goodies on display at the Bears’ Picnic. Cardano. 94% off. Tron. 92% off. NEO. 92% Top projects at discount prices! Black Friday doorbusters for bankers! Crypto has entered the bleakest point in the trough, where the bulls have long-since given up on their long positions. There is no price support. There is no emotional support. There is simply despair. If you bought at the top of the market, you can’t possibly sell now - so the liquidity begins to bottom out. As it does so, the sellers who are left become more desperate. They drop their prices further, falling over each other to dump their holdings: and the bears salivate. A bubble burst, almost a year ago. But a dam broke, today. Today was the day that the bears have been patiently awaiting. When the pent-up frustration of a year of bad news finally roared over the top in an unstoppable river of panic. A year in which crypto has lost its value, its reputation, and a good deal of its allure. We’ve seen lawmakers and enforcement agencies prevaricate, we’ve seen scams and frauds, we’ve seen the blockchain bandwagon suffer the weight of hundreds of projects that had no business pertaining to this technology. We’ve see Wall Street financiers denounce Bitcoin while acquiring crypto exchanges. We’ve seen the acronym ‘ETF’ become a beacon of light to a raft of investors who don’t know what ETF stands for. We’ve seen narcissistic Twittering fools go supernova, even briefly outshining the assholiness of the Tweeter-in-Chief. What’s left in the rubble? The same that was there a year ago... but a year more mature. A year more advanced. A year better-prepared. Think about that. Now get in there, before the bears eat the whole thing. The author is invested in digital assets. And intends to stay that way. The post Crypto Crash May Be The Final Bear Attack appeared first on Crypto Briefing.

a month ago

McAfee Labs Discover Russian Crypto Mining Malware, Correlation with Monero Price

McAfee Labs has announced the discovery of WebCobra, a Russian coin mining malware which explores victim’s computing power. Security researcher Kapil Khade also found that a correlation between the prevalence of miner malware and changes in the price of Monero (XMR). McAfee Labs Says Crypto Miner Malware Follows Price of Monero The threat research division of McAfee, a leading computer security software company owned by Bitcoin enthusiast John McAfee, found what it considers to be an uncommon and hard to detect cryptocurrency mining malware. Uncommon in that it drops a different miner depending on the configuration of the machine it infects. Khade, with the collaboration from colleagues Oliver Devane and Deepak Setty, analyzed the Russian-born threat, dubbed WebCobra. The malware steals victims’ machine resources as it increases power consumption while it runs silently in the background and mines cryptocurrency. Once infected, the computer warns the user of “performance degradation,” but is unable to detect the presence of the threat without up-to-date anti-malware software. Khade argued in his post that the increase in the value of digital currencies has led to a significant increase in the use of malware for the purpose of cryptocurrency mining. The Russian crypto jacking malware seems to have a special appetite for Monero (XMR). The digital asset known for its privacy features is priced above $100 after having peaked at nearly $500 in early January 2018. “The increase in the value of cryptocurrencies has inspired cybercriminals to employ malware that steals machine resources to mine crypto coins without the victims’ consent,” Khade notes. The researcher shared a chart comparing the price of Monero from January 2016 to July 2018 against “coin miner malware samples.” The graphic indicates a clear correlation between the two, with unique mining malware reaching its all-time high one month after the burst of the cryptocurrency bubble earlier this year. The use of coin mining malware seems to have picked up most recently despite a continued drop in the price of Monero and cryptocurrencies in general. The uncommon cryptocurrency mining malware is most prevalent in the United States, Brazil, and South Africa, according to the McAfee Labs heat map of WebCobra infections from September 9-13. The software security company recently examined WebCobra. The file infector silently drops and installs the Cryptonight miner or Claymore’s Zcash miner, Khade explained. “The main dropper is a Microsoft installer that checks the running environment. On x86 systems, it injects Cryptonight miner code into a running process and launches a process monitor. On x64 systems, it checks the GPU configuration and downloads and executes Claymore’s Zcash miner from a remote server.” Related Reading: Checking Crypto Prices on Your Mac? Watch Out for Malware Featured image from Shutterstock. The post McAfee Labs Discover Russian Crypto Mining Malware, Correlation with Monero Price appeared first on NewsBTC.

a month ago

Forbes 30 Under 30 List Shows Blockchain “Here To Stay”

The latest Forbes “30 under 30” annual list which describes itself as selecting the “brashest entrepreneurs across the United States and Canada” has been published, and blockchain entrepreneurs display a notable presence in the 2018 edition. 600 names are featured on its pages, from across a diverse range of sectors. This year, the finance sector features the co-founder of Lightning Labs, Olaoluwa Osuntokun, whose company is attempting to make Bitcoin more effective for smaller transactions, as well as reduce its cost. With stablecoins making headlines, Intangible Labs boss, Nader Al-Naji, joined Osuntokun in the finance section of the list. New Yorker Al-Naji’s firm raised USD 133 million to create Basis, an algorithmically-controlled stablecoin. The project itself was founded by three Princeton graduates. The founding team included Naji, Lawrence Diao (co-founder) and Josh Chen (co-founder). Other listed members of the executive team include Brian Freyburger (CTO). The Finance 30 featured another New Yorker, JB Rubinovitz, for Bail Bloc which helps people in difficult circumstances to post their bail through spare-cycles crypto-mining. Users can volunteer their “computers spare power to get people out of jail”. Nikhil Srinivasan and Alex Kern, the Coinbase acquisition Distributed Systems co-founders, also received a mention for creating an automated identity verification platform with the potential to ingrate into its wallet along with other innovative applications Earlier this year, Bitcoin News published the Forbes 400 list including cryptocurrency entrepreneurs who received mentions with the rather uncomplimentary title of “Freaks, Geeks And Visionaries” which featured Chris Larsen, co-founder of Ripple, as the first person from the cryptocurrency space to be on the prestigious list of America’s richest. That issue featured Binance chief Changpen Zhao on its cover. The list including blockchain movers and shakers also included crypto-billionaires the Winklevoss twins. Forbes editor Randall Lane was happy to admit that “a blockchain-enabled financial system of some kind is here to stay” but conceded there would always be casualties, citing the burst dot-com bubble of 1999. 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 Forbes 30 Under 30 List Shows Blockchain “Here To Stay” appeared first on BitcoinNews.com.

a month ago

Multinational Bank Sees Positive Future For BTC

The multinational investment bank and financial services company, Morgan Stanley has published their latest report which was released on 31st October. The report contains an overview of the evolution of Bitcoin and how its investment purpose has changed throughout the years but the report has a bullish sentiment to it in comparison the outlook for 2017. Also in the report is a few drawbacks of the crypto including a lack of regulations and energy. To start with, the banking giant has recently begun to offer trading derivatives that are tied to Bitcoin. The company started offering Bitcoin swap trading tied to future contracts. Earlier in the year, James Gorman (CEO) said that a trading desk specialising in derivatives tied to virtual assets could be a potential service offered to clients. As said by Crypto Ticker, Morgan Stanley was reported comparing Bitcoin to Nasdaq to clients, even though it moves almost fifteen times quicker. The bank also predicted that in the future, financial markets would start to increase their adoption for crypto over the years saying: “Over the coming years, we think that the market focus could turn increasingly toward cross trades between cryptocurrencies/tokens, which would transact via distributed ledgers only and not via the banking system.” Trend of stablecoins The stablecoin trend began in the late months of last year with multiple giants in the industry launching stablecoins of their own experiencing a burst during the summer. Stablecoins are digital currencies which the whole purpose is to minimise the minimise the volatility of price fluctuation and they are usually backed by either fiat currencies like, gold, commodities and the US dollar or other digital assets. In the report, it also mentioned how the introduction of stablecoins in the crypto market resulted in Bitcoin trading volumes taking a proportional hit despite Bitcoin making up over 50 percent of total market valuation. Experts believe that this added the subsequent fall in prices that resulted in the current bear market. The highlight The highlight of the report is when it calls crypto’s “rapidly morphing thesis”. Tracing Bitcoin’s evolution from different roles of virtual cash, a new fundraising mechanism, a method for the store of value to its current form of a new institutional investment class What are your thoughts? Where do you see Bitcoin going in the future? Let us know what you think down below in the comments! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Multinational Bank Sees Positive Future For BTC appeared first on Crypto Daily™.

a month ago

Bitcoin Mining Latest in Paraguayan Mega Dams’ Checkered History

A remote area of Paraguay close to the borders of Brazil and Argentina is developing its own crypto mining sub- culture thanks to the world’s largest dam. Itapúa Hydroelectric Dam is the largest operational hydroelectric energy producer in the world, with an installed generation capacity of 14GW. Its guarded by armed patrols and situated on the outskirts of Ciudad del Este, a Paraguayan border town which has become a hotbed for smuggling, cartels and drugs. The town of 300,000 has gained a reputation as being part of Paraguay’s lawless wild west. However, it has a new community and it is growing rapidly. The CPUs have come to town. Where there’s a dam, there’s sure to be power and a growing group of crypto miners isn’t wasting the opportunity. In an industry which has virtually sprung up overnight, an estimated 20,000 units are now generating Bitcoin and Ether. Neighboring Brazil sells its energy at five times the price of its poorer cousin, which makes Paraguay an attractive proposition for would-be miners. A fact that hasn’t been wasted on many, according to Gregorio Bareiro, who has seen his air conditioning business rocket since the CPUs came to town. “Some people have become multimillionaires,” he says. Bariero now provides miners with cooling systems and rents out 750 computers of his own, mainly to Brazilians, Europeans and North Americans. He now hires a dozen staff and has his own plans for installing mines in portable trailers. He sees the potential in Ciudad del Este for lifting the struggling economy, if it were approached on a grand scale. “Paraguay today is the only place where there’s abundant energy,” he pointed out. “We can become the center of global Bitcoin mining.” The newly-established entrepreneur-cum-air-conditioning-salesman feels that if Itaipú’s power were used to reduce energy prices, the Chinese owners of the 150,000 units might be lured to Paraguay. “In ten years, it would generate enough money to pay Paraguay’s external debt,” he suggested. “With our resources, we ought to have electric helicopters, drones for transporting goods...” Cristine Folch of Duke University sees data centers powered by clean energy enticing the likes of like Google, Apple and Facebook putting “Paraguay on the edge of the technological frontier”. The dam certainly has the potential to change lives for the better, one that has already been missed due to politics and corruption. Miguel Carter, a Paraguayan development expert explains that by negotiating a fairer price for its energy, Paraguay could fund its hospitals, schools and railways - all in dire need of upgrading. Carter saw the potential for a better world lost when Brazil beat Paraguay to the signing of the 1973 Itaipú treaty which lost Paraguay a potential USD 57.7 billion in income. Also in October of this year, it was confirmed that Brazil’s military regime murdered its ambassador to Paraguay in 1979 to prevent the revelation of billions of dollars in kickbacks during the construction of the dam. “When I saw the numbers I burst into tears,” Carter said. “I know of so many stories of Paraguayans going to hospital and losing their loved ones... there would have been lives saved, kids with a decent education. You could have had a different country.” Similarly, another study group is calling for energy created from the dam currently sold overseas to be redirected back into the Paraguayan economy with the potential to create 2 million jobs, quadrupling GDP. It appears that the new spate of crypto mining is the latest in Itapúa’s colorful history. It remains to be seen in whose hands this wealth of resources finally ends and if it contributes to simply creating more wealthy individuals or a wealthy national economy. 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 Bitcoin Mining Latest in Paraguayan Mega Dams’ Checkered History appeared first on BitcoinNews.com.

a month ago

CoinGecko’s Q3 Cryptocurrency Report Suggests Rough Outlook for Ethereum

Popular cryptocurrency blog CoinGecko.com has released its latest report detailing its findings on the cryptocurrency space during Q3 of 2018. So, How Did They Do? Among the details include some not-so-happy stats for Ethereum, which currently sits in the number two spot of the world’s top five cryptocurrencies. While the other four - which include bitcoin, bitcoin cash, Ripple’s XRP and Litecoin - have all shown positive year-on-year returns, Ethereum has failed to step up to the plate, and has fallen by roughly 22 percent since quarter two, and many enthusiasts remain downtrodden. The report’s findings show EOS as the highest-ranking performer amongst the crypto industry’s top coins, having shot up by over 700 percent since Q2. Next in line is Ripple, which is up by over 180 percent and then bitcoin, which has experienced a burst of roughly 52 percent. Though at the bottom of the list, even bitcoin cash is up by roughly 28 percent. This Is Small Beans, Baby These numbers are no doubt “good,” but they pale in comparison to the data seen in CoinGecko’s Q1 report. During this time, Ethereum did exceptionally well and was up by approximately 684 percent. However, Ripple’s XRP and Litecoin were the currencies experiencing their highest levels of growth. Ripple experienced a push over 2,100 percent from Q4 of 2017 to Q1 of 2018, while Litecoin exploded by approximately 1,571 percent. Bitcoin was up by roughly 536 percent, despite the bearish trends its price would begin to endure later in the month. The low performer at that time was bitcoin cash, which ultimately fell by about nine percent in the time covered. Bitcoin cash was the newest currency amongst the five mentioned; it arrived through a hard fork in August of 2017 and was still considered “fresh off the boat.” The Popularity Later Fell These figures likely account for the hype surrounding bitcoin and its altcoin counterparts during late 2017. At the time, bitcoin had spiked to nearly $20,000 per unit, while a few months later, currencies like Ethereum would jump and exceed $1,400. This newfound popularity would later be marred by bearish sentiment that seemingly refuses to let up and has remained with us throughout the duration of 2018. Bitcoin has crashed by nearly 70 percent and is trading for merely $6,300 at the time of writing, while Ethereum has treaded an even harsher road. The second-largest cryptocurrency by market cap has fallen by nearly 80 percent since its February peak, and is currently trading for about $198 following a length period of trading just over the $200 mark. Image via Pixabay The post CoinGecko’s Q3 Cryptocurrency Report Suggests Rough Outlook for Ethereum appeared first on Ethereum World News.

a month ago

Coinbase’s Zach Abrams Puts an End to Crypto vs. Internet Debate

Depending on how you feel about digital currencies, you will either compare it to the dot-com era or tulip mania. Several crypto enthusiasts like to compare the rise of cryptocurrencies and blockchain with the internet, one of the most groundbreaking technologies from the past century. Zach Abrams, the Dir Product at Coinbase compared several technologies of the past with cryptocurrencies and noted that crypto may not be all that different. No Internet Historian But... Abrams claimed that he is not an internet historian and got his first AOL CD in elementary school and discovered Napster only when he was in high school. However, he suggests that as he reads more about the technologies of the past, it becomes easy to suggest that crypto is going along the same path as its predecessors. He writes: “Almost every new technology has experienced a prolonged period of serendipitous invention, a meaningful period of uncertainty and market discovery, and an unprecedented burst of growth. With each of these cycles, the platform was doubted until it was obvious; frivolous until it was irreplaceable; and niche until it was ubiquitous.” He reminiscence on how in 1993, the internet was considered a good tool for scientists and academics alone. He said that people who believed in the power of technology “will them into existence” and created generational companies like Intel, Windows, etc. Cryptos Resemble the Telephone Abrams then went on to compare cryptocurrencies with the telephone, which was invented in the 1850s and patented by Bell in 1876. The initial use case of telephones was simple but very niche - it could be used by the government and can be helpful in corporate communication too. When costs lowered, consumer adoption followed but this was 15 years after the telephone’s invention. He noted how it took over 50 years since its invention for the telephone to make people agree on its importance. He then talked about the transistor, the personal computer and finally, the internet. He said that all technologies, in their adolescence, go through a similar phase of being labeled as a niche or not being able to scale to meet its massive expectations. He commented further: “Like Bell Labs, Intel, Apple, Microsoft, Netscape, Google, and others — we are the early pioneers in a new industry; the ones who see the opportunity; and the group that’s working every day to help a new platform realize its potential.” Coinbase’s Zach Abrams Puts an End to Crypto vs. Internet Debate was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a month ago

Maxim and Pavel Yakimov Discuss Tkeycoin’s Promising Technicals [Interview]

Bitcoinist recently caught up with Maxim and Pavel Yakimov, the founders of Tkeycoin — a promising cryptocurrency boasting some impressive technicals — to find out what exactly makes their project stand out from the crowd. Interview with Maxim and Pavel Yakimov Tkeycoin’s claim to fame is that its blockchain can handle 50,000 transactions per second. Tell us, how have you achieved this? To achieve this, we have carried out numerous studies on b2b-networks, different types of consensus as well as we have analyzed shared values of the civil society in general. Having PoS, DPoS, PoW and other algorithms under close analysis, we have concluded that mPoW type fits our needs the best. We have always wanted to develop a genuinely decentralized and fast system. Thus, we believe that PoS & DPoS algorithms are of not any help for the purpose. At which point, we have taken already existing algorithms, level out the cons and upgraded the pros to get the perfect blockchain variation ever existed. Even though the increase of the block size seems to be an obvious solution, we do not use big blocks in Tkeycoin network. Our algorithms work smoothly as a good Swiss watch. Every single detail in our network makes the difference; every single mechanism makes these 50,000 transactions per second just a today’s reality. The solutions we use are based on hundreds of researches and conceptions. Trust us, Tkeycoin network is capable of handling as many operations as needed. It has awesome productivity! What is the kYprotocol, in layman’s terms? What is kYprotocol in layman terms? This is a mechanism that processes hundreds of operations and keeps its record in the blockchain system. This is some kind of engine that controls everything in the network, and most of the work processes have a strong dependence on it. In fact, this is what drives Tkeycoin forward and leads it to the top. What platforms will Tkeycoin be available on, and when can we expect each to be supported? Tkeycoin will be available on Windows, MacOS, Linux, iOS, Android, and Web. As for the order, we are going to release Windows, Android and web version in the first wave, the others - in one or two months later. The first wave is planned for December 2018 - January 2019. The preliminary date of MacOS and Linux releases is March-April 2019. What exchanges will Tkeycoin be listed on come January 2019? The full list of exchanges will be published on our website slightly later. If considering the situation in general, we continue our negotiations with world’s leading platforms and invite for cooperation everyone who wants to see Tkeycoin on their exchange. As for the specificity, we have an agreement with EXMO and HitBTC, and few more dialogues still going on. We will announce more platforms for Tkeycoin listing when we have more detailed arrangements. Why is Tkeycoin conducting an ICO? In fact, we have a few reasons for conducting ICO at this stage. Firstly, we want people to know our product. We want them to distinguish it from hundreds of other projects even before it will be listed on an exchange. Secondly, it is vital for Tkeycoin to have a reliable foundation for future growth and scaling on the International market. We want to attract developers already at this stage to create a strong and productive community. We want people to talk about Tkeycoin every day. Finally, we want to multiply our efforts right after the end of ICO. We are preparing an ambitious marketing campaign for our project and the cryptomarket in general. We want to change the public opinion on the cryptocurrencies and take it to the brand new level. We are planting the germ to grow and water in the future. If someone was to say to you that ICOs are dead, how would you respond? It is quite difficult to have any reactions on such statements since it is the way too much subjective. People have mostly created this opinion themselves with the help of poor-quality projects. We can see numerous second-rate products, scam ICOs; thus the market is being destroyed. Look at IBO - there are dozens of good cases and companies. Everything needs some time. As for the ICO market, we think the current situation will help the market to be regulated. Thanks to the bubble burst, it will be cleared from scam projects and low-quality technologies. SEC and other organizations of such kind are intended to save the market from being discredited. The market shouldn’t suffer from useless and harmful projects. What will the funds collected during the ICO be used for? Basically, we need the funds for the future development of the product and its scaling on the global market. This is a fuel that will allow Tkeycoin move faster, lightning-fast if you please. The market grows that rapidly that it is impossible to develop a high-quality product and promote it to the world market without proper investments and a certain amount of money. Where do you see the cryptocurrency space, specifically, five years from now? We are a

a month ago

5 Reasons Why Fidelity Embracing Cryptocurrency is a Big Deal

LALA World CEO and Founder, Sankalp Shangari, shared his top 5 implications of the announcement. What the Fidelity News Means for Crypto We’ve had time now to digest the news of Fidelity’s imminent foray into cryptocurrency trading launching an offshoot company called Fidelity Digital Assets. We’ve also analyzed the community response and what this means for the industry. But what can we discover by reading between the lines? Fidelity Investments is the fourth largest asset manager in the world. It will now start storing and trading digital currency for its institutional clients, unlike Bitcoin futures which are cash-settled. This is big news in any book, and the past two weeks have seen much dissection of the announcement and its consequences. But what of the broader ramifications of this decision to enter the crypto market and Bitcoin price 00? And what does this say about the state of the industry in general? Shangari shared his analysis of the situation. Abigail Johnson, Fidelity Investments CEO Not taken lightly Fidelity are big. Like $7.2 trillion dollars big. Like so many clients that there isn’t enough bitcoin in existence for them to each own one. This financial giant is entering the crypto market because of the changing demands of its customers. This isn’t a change which happened or a decision made overnight. It follows meticulous research and planning. This is the mainstream. Serious investment This decision paints Bitcoin and cryptocurrency as a serious investment. Until now it has been portrayed as a risky almost sub-culture. With custodian issues addressed by such a trusted name, crypto will attract a whole new client base. Wall Street, meet crypto 2019 is set to be the year that Wall Street and crypto truly get acquainted. Fidelity are entering the market. Intercontinental is set to release its Bakkt futures product before the end of the year. And Goldman Sachs has invested $16 million in BitGo. $15k by June 2019 Shangari thinks that the huge liquidity that the market should experience, will push bitcoin to a $15,000 price point by the middle of next year. That seems like a cautious, but sensible and sustainable prediction. “Not only the market will witness huge liquidity we should also see Bitcoin touch the 15k dollar mark by June next year,” writes Shangari. We’ve burst the dam Expect a flood of similar announcements heading our way over the coming months. With this move by Fidelity, it will be harder for the other behemoths to continue refusing the requests of their clients. Jump in, the water’s lovely. Do you agree with these five points? Share your thoughts below! Images courtesy of Shutterstock The post 5 Reasons Why Fidelity Embracing Cryptocurrency is a Big Deal appeared first on Bitcoinist.com.

a month ago

What does Gold and the Blockchain have in Common?

When we watch the news we always hear about the “new gold” that is making an appearance in the economic arena that can radically change the world we live in. But why are we searching for a “new” gold when we already have one? Instead of looking elsewhere, why don’t we just implement what we have in a better, more convenient way? One new solution that has come to light resulted in the creation of a precious-metal based cryptocurrency which has experienced a pique of interest as of late. Why do we need this “digital gold” and how does actual gold come into play. Let’s find out together! Thanks to agency.howtotoken.com for support in creating this topic (First platform with proven ICO contractors) Why can’t we get away from gold? All the Reasons Cryptocurrencies Will Never Replace Gold As Your Financial Hedge by Olivier Garret. Olivier Garret is the Founding Partner and CEO of Mauldin Economics, a leading publisher of financial research geared towards individual investors and institutions. A long time ago, silver and gold coins were considered the best way to issue money as they were valuable as a rare metal by themselves. Later on, we moved to the gold-backed paper money and now we have fiat money with gold being used as a sort of “Plan B” reserve. Now, when we look at cryptocurrencies some of us see them as a revolution among financial institutions, but it is, in fact, an evolution of plain fiat money that inherits some of their weaknesses. “It’s clear that cryptocurrencies partially fit the definition of fiat money. They may not be legal tender yet, but they’re also not backed by any sort of physical commodity. And while total supply is artificially constrained, that constraint is just... well, artificial...You can’t compare that to the physical constraint on gold’s supply.” One of those weaknesses is considered to be their “artificial” nature that they share with paper money. However, paper money is backed by governments and cryptocurrencies lack widespread support, which may result in high volatility and inaccessibility, thus creating major disadvantages from using them. “Security is a major drawback facing the cryptocurrency community. It seems that every other month, there is some news of a major hack involving a Bitcoin exchange.” It’s true that in order for a currency to be useful it should be secure and although there are various exceptions fiat money, as an analog counterpart to digital currencies, is definitely not inferior. Actually, it seems as though the current situation favored conventional currency more after the numerous breaches and hacker assaults on various cryptocurrencies. You simply can’t hack gold and paper. “Most stocks that had risen in the first wave of the Internet craze were wiped out after the burst of the dot-com bubble in 2000...The same will probably happen with cryptocurrencies... Only a few will become the standard, and nobody knows which ones at this point... What little data we have on cryptocurrencies does not show the same. Consider this year alone: while the U.S. stock market continues to run record highs, the same goes for Bitcoin.” One of the main drawbacks of digital currencies is that we still know precious little about them. The crypto industry is still underdeveloped and we have yet to receive any “certain” results out of it. The dawn of digital currencies and its impact today National Security Implications of Virtual Currency by Joshua Baron, Angela O’Mahony, David Manheim, Cynthia Dion-Schwarz. Cynthia Dion-Schwarz is a senior scientist at the RAND Corporation, focusing predominantly on cyber security technology and policy. Prior to joining RAND, Dion-Schwarz served as a senior executive at the National Science Foundation and the Department of Defense. Angela O’Mahony is a senior political scientist at the RAND Corporation and a professor at the Pardee RAND Graduate School. Her research has focused on how international political, economic, and military ties affect policymaking. Although it’s common to see Bitcoin as the forefather of digital currencies, that’s not exactly correct. Long before Bitcoin there was another form, called virtual currencies (VC), present and their existence may have served as the foundation for modern cryptocurrencies. “VCs have been in use well before the invention of Bitcoin, though they were not decentralized. Digital gold currency and similar systems comprised the first wave of VCs that were created and used. Began in 1996, e-gold was a precursor to the type of system proposed by Chaum.” Being the first to realize such ideas, the predecessors of modern crypto projects faced numerous problem starting with plain operational issues and ending with core conceptual principles by which this currency should be made. The most obvious and practical way of creating a virtual currency was by getting to the root of the conventional currencies and connecting this virtual entity to real and valuable goods, like precious metal. “A first

2 months ago

Another ‘Expert’ Claims That Bitcoin Is A Bubble

With the crypto market going into hibernation at the moment, analysts and experts alike are coming up with predictions of what is going to happen to the market during this period. The CEO and co-founder of the blockchain company Civic, Vinny Lingham specialises in identity security and believes that we will blow another bubble even more significantly than the previous one for the crypto market. Lingham shared his views speaking at the Chain Reaction event hosted by Blockchain Entrepreneurs Club South Africa in Johannesburg earlier in the week. The South African internet entrepreneur has raised over $30 million with his company through an ICO in 2015. Speaking about the developments and the future of blockchain and the issues of mass adoption he said: “Do I think we’ll have another bubble? Probably, because people just don’t learn. Once it broke through $20k, it would run to over $100k and then we have the start of a new bubble-bust cycle,” Lingham said, explaining that he looks at the cryptocurrency market from a long-term perspective, while the bubble will be created by investor greed.” As reported by Cryptovest: “He explains the December bubble and the subsequent burst by disbalance between supply and demand as last year investor interest in digital assets and ICOs considerably exceeded the supply, while in the second half of 2018 the situation reversed.” The South African harbours no illusions about the upcoming mass adoption for Bitcoin with the significant scalability issues that slow its development and reduce the scope of real-life use cases. “Even though we are about a decade into blockchain technologies, we are still in the infancy. Primarily the number one use case for cryptocurrency outside of money transfers is trading. It’s mostly a speculation game.” Moreover, Lingham is not the only one who has emphasised the bubbly state of the current digital currency market. Back in July this year, Agustin Carstens a General manager at International Settlement claimed that Bitcoin was a bubble waiting to burst and added that it was a Ponzi scheme which could result in an environmental disaster. What are your thoughts? Let us know what you think down in the comments below! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Another ‘Expert’ Claims That Bitcoin Is A Bubble appeared first on Crypto Daily™.

2 months ago

Dotcom Bubble Burst May Have Been Necessary; What About Crypto?

Since Bitcoin’s infant years, the cryptocurrency industry has been likened to the earliest stages of the internet’s development on a variety of platforms. This eerie comparison has only become more apparent, with a leading crypto investor recently pointing out that the long-term prospectives of this nascent space could be bolstered by the current sell-off, which has seen cryptocurrency values all but fall off the face of planet Earth. “Everyone Is Busy Building, Less Time Speculating” Amidst dropping volumes and an uptick in cases of fear, uncertainty, and doubt, Bully Esq, a prominent crypto analyst, astutely drew connections between the early-stage dotcom (internet) market and the current cryptosphere. The dotcom bubble bursting was a necessary correction. Out of it grew Amazon, Google, et al. We’re in the crypto correction period (ICO blood letting). Everyone is busy building, less busy speculating. Now is your chance to prepare. Accumulate. Build. Learn. Network. Be ready! pic.twitter.com/ToGYJafHzY — ฿ully esq. (@BullyEsq) October 21, 2018 Prior to the dotcom crash in 2001/2002, any entrepreneur, even those with the faintest slimmer of a revolutionary idea, cashed in on the global craze, setting up shop and their first domains with stars in their eyes. Of course, the eventual crash, which saw the Nasdaq index lose 80% of its value, weeded out a majority of startups that were only looking to turn a quick buck. Keeping this thought process at the forefront, Bully, known for his analysis of anything and everything, noted that the collapse of the Nasdaq likely catalyzed the subsequent growth of Amazon, Google, and many of other household names on the web today. Some would argue that the same is happening today, but this time, with the crypto asset craze. Like how Amazon and Google toiled away at development post-crash, many industry leaders claim that it should be (and is) much of the same for the promising crypto startups of today. In mid-August, Coinbase’s Brian Armstrong explained to Bloomberg that Facebook was founded after the Nasdaq’s unfortunate tumble, adding that it is much of the same now, alluding to the countless crypto startups that have a chance to make it big in spite of the roaring Bitcoin bears. San Francisco-based Coinbase, for one, has put the qualms of the bear market aside, pushing for growth in new markets via new platforms, services, and products that will only entice users in the future. The startup’s perpetual drive for innovation has reportedly even enticed Tiger Global, a New York-based hedge fund, to invest $500 million in the firm at a jaw-dropping $8 billion valuation. Although Coinbase is undoubtedly a fringe case, there have been a countless number of crypto-centric startups that have continued to put their nose to the grindstone, so to speak. These firms, who have been relentlessly hammering out products behind the scenes, will likely be the Amazons, Facebooks, and Googles of tomorrow, even if the recovery of the crypto market takes a bit longer than some may initially expect. So right now, it’s time for investors to get their heads of the clouds and put their pedals to the metal, as now is an optimal time for true believers to double-down on their involvement with this paradigm-shifting technology. Bully, who issued a rallying call to arms with this mindset, wrote: “We’re in the crypto correction period (ICO blood letting). Everyone is busy building, less busy speculating. Now is your chance to prepare. Accumulate. Build. Learn. Network. Be ready!” But Remember, Patience Pays Great Dividends Changpeng “CZ” Zhao, seemingly echoing the cries for patience from the likes of Blockchain’s Peter Smith, recently took to Twitter to claim that while blockchain and crypto are far from biting the dust, it is important to step back and not focus on the day-to-day. CZ then added “BUIDL/HODL to that,” bouncing off his narrative that building infrastructure today will only benefit the adoption of crypto assets in the future. Blockchain/crypto is not going away. Then take a 5-10 year horizon, and think about where we will be. BUIDL/HODL to that! — CZ Binance (@cz_binance) October 18, 2018 Cries for investors to have patience aren’t just restricted to come out of CZ’s digital mouth, as Meltem Demirors, the chief strategy officer at Coinshares, has tangoed with this sentiment in the past. Speaking to the CBNC Fast Money panel in August, Demirors brought up the performance of leading internet stocks to explain a point about crypto, stating: “Let’s go back to the analogy that everyone uses... 1999 and the internet stocks. So if we look at Amazon, Amazon at its peak took 9 years to recover from peak, troff, back to peak. Right? So you had to hold Amazon for nine years to recover your value. If you look at Intel, 15 years — Microsoft, 17 years.” Tying this back to crypto, the Coinshares executive noted that “new technologies that shift the paradigm,” like crypto assets and the internet,

2 months ago

Bitcoin Account Dispute Leads to Killingly Home Invasion

Two women have been arrested for their role in a home invasion that was precipitated by the opening of a Bitcoin account. Many cryptocurrency enthusiasts enjoy the Wild West nature of the ecosystem. The lack of a centralized authority and wide-open economic choices are beguiling features, but there are times when the crypto space becomes too much like the lawless frontier of yesteryear. Over the last year, there have been quite a few violent criminal attacks due to the presence of cryptocurrency. In the latest case, two women from Rhode Island have been arrested for a home invasion that has a Bitcoin connection. Anger Over a Bitcoin Account The home invasion took place in Killingly, Connecticut, back in March. At that time, a woman renting the home where the attack took place opened a Bitcoin account in the name of one of the attackers, Monique Delannoy-Jodoin, aged 59. Apparently, a dispute arose over the account, and Monique Delannoy-Jodoin felt that money had been stolen from her concerning the account. She and 38-year-old Beatriz Viruet then decided to regain the “stolen” funds, along with the needed passwords, by staging a home invasion. The two women forced their way into the home and were armed with a handgun and an electric cattle prod. The cattle prod was used on one occupant of the home, and another occupant was pistol-whipped. The renter managed to barricade herself in the bathroom and then flee to a neighbor’s house. During the home invasion, one of the attackers allegedly told the other to “shoot the victims.” Nobody was shot, but the two Rhode Island women stole cell phones, money, and a television before escaping. Now the two suspects have been arrested and face a host of charges. Beatriz Viruet is being charged with first-degree robbery, second-degree breach of peace, and home invasion. According to the news report, Monique Delannoy-Jodoin is being charged with: ...risk of injury to a child, home invasion, third-degree criminal mischief, sixth-degree larceny, first-degree robbery, second-degree breach of peace, criminal use of a weapon, second-degree assault with a weapon, five counts of first-degree threatening and four counts of second-degree reckless endangerment. Cryptocurrency Can Be Dangerous Sadly, this case is not singular when it comes to armed criminals and cryptocurrency. Not too long ago, the ringleader behind the kidnapping of a man to gain the password to his crypto wallet was sentenced to 10 years behind bars. Back in February, a man and his friend were assaulted in Taiwan during a supposed deal to sell Bitcoin. A gang of four men attacked the victim and his friend once the criminals verified that the victim had access to his crypto wallet and then forced the victim to transfer roughly $170,000 in bitcoins. Probably the most frightening crypto crime took place in the U.K. when armed criminals burst into the home of a Bitcoin trader back in January. The trader and his wife were held at gunpoint and their baby placed outside. The trader was forced to transfer his funds, and the criminals ran away. Luckily, no one was harmed. Just because cryptocurrency is virtual and is locked away behind passwords does not mean that one is safe from violent attack. It’s always wise to refrain from bragging on social media (and in real life!) about how much cryptocurrency you currently possess. Also, if you’re meeting someone face-to-face to buy or sell crypto, make sure it’s done in a public space that’s filled with people. You should also never go alone to such a meeting. Overall, such violent attacks are rare, but they do happen. Have you been the victim of a Bitcoin robbery? Let us know in the comments below. Images courtesy of the Norwich Bulletin and Shutterstock. The post Bitcoin Account Dispute Leads to Killingly Home Invasion appeared first on Live Bitcoin News.

2 months ago

Bitcoin Account Leads to Home Invasion

Two women have been arrested for their role in a home invasion that was precipitated by the opening of a Bitcoin account. Many cryptocurrency enthusiasts enjoy the Wild West nature of the ecosystem. The lack of a centralized authority and wide-open economic choices are beguiling features, but there are times when the crypto space becomes too much like the lawless frontier of yesteryear. Over the last year, there have been quite a few violent criminal attacks due to the presence of cryptocurrency. In the latest case, two women from Rhode Island have been arrested for a home invasion that has a Bitcoin connection. Anger Over a Bitcoin Account The home invasion took place in Killingly, Connecticut, back in March. At that time, a woman renting the home where the attack took place opened a Bitcoin account in the name of one of the attackers, Monique Delannoy-Jodoin, aged 59. Apparently, a dispute arose over the account, and Monique Delannoy-Jodoin felt that money had been stolen from her concerning the account. She and 38-year-old Beatriz Viruet then decided to regain the “stolen” funds, along with the needed passwords, by staging a home invasion. The two women forced their way into the home and were armed with a handgun and an electric cattle prod. The cattle prod was used on one occupant of the home, and another occupant was pistol-whipped. The renter managed to barricade herself in the bathroom and then flee to a neighbor’s house. During the home invasion, one of the attackers allegedly told the other to “shoot the victims.” Nobody was shot, but the two Rhode Island women stole cell phones, money, and a television before escaping. Now the two suspects have been arrested and face a host of charges. Beatriz Viruet is being charged with first-degree robbery, second-degree breach of peace, and home invasion. According to the news report, Monique Delannoy-Jodoin is being charged with: ...risk of injury to a child, home invasion, third-degree criminal mischief, sixth-degree larceny, first-degree robbery, second-degree breach of peace, criminal use of a weapon, second-degree assault with a weapon, five counts of first-degree threatening and four counts of second-degree reckless endangerment. Cryptocurrency Can Be Dangerous Sadly, this case is not singular when it comes to armed criminals and cryptocurrency. Not too long ago, the ringleader behind the kidnapping of a man to gain the password to his crypto wallet was sentenced to 10 years behind bars. Back in February, a man and his friend were assaulted in Taiwan during a supposed deal to sell Bitcoin. A gang of four men attacked the victim and his friend once the criminals verified that the victim had access to his crypto wallet and then forced the victim to transfer roughly $170,000 in bitcoins. Probably the most frightening crypto crime took place in the U.K. when armed criminals burst into the home of a Bitcoin trader back in January. The trader and his wife were held at gunpoint and their baby placed outside. The trader was forced to transfer his funds, and the criminals ran away. Luckily, no one was harmed. Just because cryptocurrency is virtual and is locked away behind passwords does not mean that one is safe from violent attack. It’s always wise to refrain from bragging on social media (and in real life!) about how much cryptocurrency you currently possess. Also, if you’re meeting someone face-to-face to buy or sell crypto, make sure it’s done in a public space that’s filled with people. You should also never go alone to such a meeting. Overall, such violent attacks are rare, but they do happen. Have you been the victim of a Bitcoin robbery? Let us know in the comments below. Images courtesy of the Norwich Bulletin and Shutterstock. The post Bitcoin Account Leads to Home Invasion appeared first on Live Bitcoin News.

2 months ago

Exclusive Interview With Burst Developer Daniel Jones

Listen to the exclusive interview with Burst Developer Daniel Jones on the 18 October 2018 edition of the BitcoinNews.com Daily Podcast BitcoinNews.com did an exclusive interview with Daniel Jones, one of the Burst developers. Burst began in 2014 as a fork of NXT, which is itself a fork of Bitcoin. NXT uses Proof of Stake, but the original Burst developers modified the code and implemented a unique new protocol called Proof of Capacity. Jones says “Proof of Capacity is a consensus algorithm based on the idea of how large of a plot, or size, or space that you have to contribute to the network”. Mining with Proof of Capacity requires negligible electricity, making it one of the very few cryptos that can be profitably mined on personal computers. Burst has a market cap of USD 16.5 million, placing it at #248 out of 2,105 listed cryptocurrencies on CoinMarketCap as of 19 October 2018. Long-term, Burst has been rising in price relative to Bitcoin, and generally when altcoins rally Burst rallies more than most other altcoins. Jones attributes this to the real people and real development behind the Burst network. Jones compares Burst to the early days of Bitcoin, saying “Burst is like the early days of Bitcoin, having been involved since 2009 I saw this happen once before, and I’m seeing it happening again, and this is exciting to me. For me, Burst represents a better way of being able to mine, and being able to participate in a globally distributed network. The bar is so low anyone can get involved, allowing anyone to participate which makes the network stronger”. Proof of Capacity is based on how much hard drive space each user has, making Burst mining highly decentralized since hard drive space is relatively cheap and easy to acquire versus Bitcoin mining rigs. With Proof of Capacity, a 1-time hashing cycle is done in a process called plotting, which proves the capacity of the hard drive being used for Burst mining. Burst uses Shabal-256, unlike Bitcoin which uses SHA-256 which is not effective for writing to a disk. Shabal-256 writes to the actual nonce, the writeable piece of a disk, on a hard drive. Each plot is unique and depends on system specifications, hard drive space, and the time of writing, which prevents collisions of block answers during Burst mining. During Burst mining, the plot that is filled with billions of hashes is read to find the answer for a block. The only computationally intensive part of Burst mining is plotting when the hashes are written to the disk. During mining, the plot is read for answers every 4 minutes, which is the average block time for Burst. The answer is compared to everyone else’s answer. The time it takes to read the answer is called the deadline, and whoever has the shortest deadline gets the block reward. Jones says “When you have shorter deadlines you win because you win the actual target”. More hard drive space equals more block answers, making it easier to get a block reward. Burst mining itself is not computationally intensive and requires negligible energy. This means Burst mining has practically zero electricity costs, just hard drive purchasing costs, making it one of the only cryptocurrencies that can be mined profitably on personal computers or even phones. Jones says “Burst is similar to Bitcoin in the early days, you can mine on it almost anything. People are mining on Android phones, people are able to run it on anything. I’ve seen people running it on a thermostat... I can tell somebody to start mining Bitcoin, but they need USD 1,100, or they could buy an external hard drive and start plotting and start mining Burst. It is a lot easier”. Further, plot files can be deleted and the hard drive can be used for something else if someone decides to stop mining Burst, unlike Bitcoin mining rigs which can only be used for Bitcoin mining. When a Burst block is found, it is added to the blockchain, much like Bitcoin. The Burst block reward started at 10,000 and decays at 5% per month, and at the time of the interview, the Burst block reward was 769. The maximum supply of Burst is 2.158 billion, and 1.992 billion Burst have already been mined. The limited supply of Burst for mining means Burst inflation is small, which could help increase the price of Burst in the future. Despite decreasing Burst block rewards, its network capacity is 250,000 TB, after being near 350,000 TB earlier in 2018 when Burst’s price was higher during the 2017-2018 crypto rally. At this time 1 TB of capacity generates 1-2 Burst a day, which is USD 0.01-0.02. For 1 PB of capacity, a miner can produce USD 10 per day. According to Jones 8 TB costs USD 125, so it would cost more than USD 15,000 to buy a PB. Due to hardware costs, it would take a long time to break even, but the upside is there are no electricity costs. The price of Burst will need to go up in the future, and current miners will have to HODL, to make its mining profitable. However, people who have spare hard drive space that

2 months ago

Exclusive Interview With Burst Developer Daniel Jones, BitcoinNews.com Daily Podcast 18th October 2018

Listen to the 18 October 2018 BitcoinNews.com Daily Podcast below. On this edition of the BitcoinNews.com Daily Podcast, we interview Burst developer Daniel Jones, taking a deep dive into Burst, which is a unique cryptocurrency that uses the Proof of Capacity algorithm. 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 Exclusive Interview With Burst Developer Daniel Jones, BitcoinNews.com Daily Podcast 18th October 2018 appeared first on BitcoinNews.com.

2 months ago

Ten years after Lehman’s collapse, these ten risks could cause the next crisis

On Sept. 15, 2008, a credit crunch turned into a full-blown crisis when New York-based investment bank Lehman Brothers collapsed. The global recession that followed is still too fresh in many people’s memories to be considered history. But 10 years on, the state of the financial system suggests that the crisis has been relegated to the history books for many in the industry. In 2018, Wall Street is enjoying another heyday. Bonuses for bankers have returned to pre-crisis levels, profits for commercial banks are at a record high, the stock market is in its longest bull run in history, the US economy is humming, and deregulation and tax cuts rule the day in Donald Trump’s administration. Around the world, regulators and policymakers say that measures taken in recent years have made banks safer than ever, with more capital and targeted oversight informed by mistakes made before Lehman went bust. That said, there are still plenty of potentially dangerous risks brewing in the financial system. Aggressive financial engineering in the pursuit of profit is alive and well. Complacency could lead to trouble, as it always does. The UK’s Financial Conduct Authority just gave a timely reminder that the onset of a crisis can be sudden. “Most if not all of the firms which failed had been reporting relatively robust financial positions right up to the point when they did fail, with financial statements signed off by their boards and large audit firms,” Charles Randall, chair of the British regulator, said earlier this month. On the 10th anniversary of Lehman’s bankruptcy, these are the things that market watchers believe could cause the next crisis. Foreign corporate debt Global non-financial corporate debt more than doubled in the past decade, to $66 trillion in the middle of last year, according to McKinsey. Two-thirds of this debt has been raised in emerging markets, with the added risk that many of these companies have taken advantage of low interest rates to borrow in US dollars. As corporate debt has increased, the quality of the credit has declined. Analysts at McKinsey say a quarter of corporate issues in emerging markets are at risk of default today, a figure that could quickly increase with a sharp rise in interest rates. US interest rates and the dollar are rising as record amounts of the debts come due. The current turmoil in Turkey is an example of what can go wrong. The Turkish lira is in freefall against the dollar, and investors are increasingly unsure as to whether Turkish companies will be able to pay their dollar-denominated debt with the rapidly depreciating liras they generate in revenue. Some European banks have loaned heavily to Turkish companies, putting them on the hook in the event of cascading defaults. There are also worries about China’s debt binge, which has left the world’s second-largest economy with a corporate debt pile worth about 160% of GDP, the highest in the world. The ability of the Chinese government to prop up growth, stabilize its over-leveraged economy, and fight a trade war with the US will be tested, and any slip will reverberate across the global economy. Collateralized loan obligations These sound eerily similar to the collateralized debt obligations (CDOs) that caused so much chaos during the 2008 crisis. These assets are another example of securitization in which leveraged business loans (meaning debt from companies with sub-investment grade ratings) are pooled together and then divided into tranches. There are other similarities to pre-crisis securitization practices: CLO documentation is long and complex and each CLO usually has more than 100 issuers bundled into one product, according to Bloomberg. For the most part, people think that CLOs are pretty safe. Even during the worst of the last crisis, the top tranches never defaulted. The argument is that this time is different because the company loans aren’t as vulnerable to changes in interest rates as the subprime mortgages underlying CDOs. But the same amount of confidence can’t be applied to the lower-rated CLOs that are becoming popular because of the high returns on offer. Bloomberg warns that the boom in the market may have gone too far now that CLOs are being targeted at individual retail investors. Issuance of CLOs has “rocketed” in Europe and keeps on rising in the US, especially as 2016 deals are refinanced in better market conditions. At the end of the first quarter of this year, the size of the outstanding US CLO market was nearly $550 billion, versus just over $270 billion in 2008, according to the Securities Industry and Financial Markets Association. The European CLO market is smaller than it was in 2009 but rising from a low set in 2015. Nonbank mortgage lenders Traditional commercial banks have reduced the amount of mortgages they provide, especially to low- and middle-income families, following tougher regulations. Nonbanks have stepped in to fill the gap: In the US, 56% of all mortgage originations

2 months ago

A Saudi prince helped save Trump from bankruptcy—twice

Donald Trump claimed on Twitter today that he has no “financial interests in Saudi Arabia.” But his financial ties to the kingdom go back a very long way. In 1991, Donald J. Trump was a mid-tier real estate developer with $900 billion in debt, a collapsing casino business, and a name perhaps best known for a headline-dominating split with his wife Ivana. With his empire at risk of falling apart, Trump was searching for cash everywhere; his father even illegally bought $3.35 million worth of casino chips and never gambled them, to help Trump make a massive bond payment a year earlier. A helpful burst of cash from a Saudi prince eased some tension with his creditors. Alwaleed bin Talal bought Trump’s yacht for somewhere between $18 million and $20 million (reports vary). It wasn’t a great bit of business for Trump—he had bought it from the Sultan of Brunei three years earlier for a reported $29 million. In 1995, Trump was still in deep trouble—and Alwaleed swooped in again. The prince, who calls himself the “Warren Buffett of Saudi Arabia,” took over Trump’s 51% stake in his beloved New York Plaza hotel. As a result, Trump’s creditors forgave $125 million of his debt. Alwaleed, who was one of several royals to be detained by Crown Prince Mohammad bin Salman in 2017, is deemed the world’s 74th richest man by Bloomberg, and owns stakes in companies like Apple, Snapchat, Twitter and Citigroup. As late as 2015, Trump was still happy to boast about his connections with Saudi Arabia. Speaking at a rally in Alabama, he bragged: “Saudi Arabia, I get along with all of them. They buy apartments from me. They spend $40 million, $50 million. Am I supposed to dislike them? I like them very much.”

2 months ago

Cancer was Paul Allen’s wake-up call to leave Microsoft

Microsoft cofounder Paul Allen was first diagnosed with non-Hodgkin’s lymphoma in 1982. At first, he itched, then came the night sweats, and eventually he discovered a hard bump the size of a pencil eraser tip on his neck. “I felt as bulletproof as most people under 30; I took my health for granted,” Allen wrote in his autobiography Idea Man. The doctors caught it early, and their treatment ended up giving Allen another 36 years, during which he went on to amass incredible wealth, several professional sports teams, and an enduring legacy in technology and philanthropy. Allen, who died of complications from the disease today (Oct. 15) at 65, had seen his 1982 diagnosis as a wake-up call, according to his 2011 autobiography, an excerpt of which was published in Vanity Fair. “If I were to relapse, it would be pointless—if not hazardous—to return to the stresses at Microsoft,” he wrote. “If I continued to recover, I now understood that life was too short to spend it unhappily.” The unhappiness at Microsoft had been building up over an intense partnership with his cofounder Bill Gates, whom he had known since high school. While their friendship had since mended since he left Microsoft, their last year running the company together was especially tumultuous. In Allen’s book, he describes a calculating cofounder, who sometimes schemed behind his back. When Gates wanted to bring on his Harvard classmate Steve Ballmer—who would ultimately take over as CEO from 2000 to 2014— to help run the business side of things, Allen had stipulated that he was OK offering up to 5% equity in the company. But he later discovered through a copy of an offer letter—sent while Allen was away—that Gates had offered him 8.75%. When confronted with this “major breach of faith,” Gates decided to make up the difference by taking it out of his share. But there was one particularly heated moment that seemed to have pushed Allen over the edge: One evening in late December 1982, I heard Bill and Steve speaking heatedly in Bill’s office and paused outside to listen in. It was easy to get the gist of the conversation. They were bemoaning my recent lack of production and discussing how they might dilute my Microsoft equity by issuing options to themselves and other shareholders. It was clear that they’d been thinking about this for some time. Unable to stand it any longer, I burst in on them and shouted, “This is unbelievable! It shows your true character, once and for all.” I was speaking to both of them, but staring straight at Bill. Caught red-handed, they were struck dumb. Before they could respond, I turned on my heel and left. Both Gates and Ballmer ended up apologizing for the incident, but that moment helped Allen realize he couldn’t stay longer at Microsoft, and resigned two months later.

2 months ago

Bitcoin [BTC] is not going to disappear, but Ethereum [ETH], XRP and others are “going bust”, says Roubini

Nouriel Roubini, the economist that predicted the 2008 financial crisis and earned the nickname Dr. Doom, recently spoke in an interview about the cryptocurrency market. He has recently gained prominence due to his outspoken views on the cryptocurrency market. Over the course of the interview, Roubini called cryptocurrency space a bubble, going so far as to call it the mother and father of all financial bubbles. He also predicted that it was going to burst, prefacing it with a disclaimer that he wasn’t “against it”. He stated to CoinTelegraph: ““I’m not against [it], I’m open to any type of innovation, but I’m an expert on financial crises and asset bubbles. And I became famous [by] predicting the global financial crisis — the burst of that bubble.” He revealed his experience with those close to him questioning him about financial advice on Bitcoin [BTC]. He stated: “If you bought it at the peak, you lost 70 percent of your value. And it’s typical of all these financial bubbles: They go up until they collapse. And Bitcoin is actually the best [example], because the average cryptocurrency has lost, in the last nine months, more than 90 percent of their value.” He went on to say that he felt like he was “vindicated and proven right” when speaking about the bubble going bust. Roubini also addressed issues of conflicts of interest, wherein many cryptocurrency enthusiasts stated that he was spreading misinformation about the technology because he had a short position. Roubini clarified, stating that even if Bitcoin went to the moon or zero, he was “not going to make a penny either way”. He went on to confirm his position as an academic that “speaks his mind”. Roubini is also known for being a stark disprover of Ethereum, calling it a “scam” on multiple instances. He offered statistical data to prove his point, stating that 81% of all Initial Coin Offerings were a “scam” to begin with, as 11% of them have failed or died. Of those remaining, Roubini stated that the top 10 have lost around 95% of their value. He went on to state: “Bitcoin is not going to disappear. But, you know, Ethereum is a bubble and it’s a bit of a scam — it’s worth nothing — XRP, all the other ones, they’re all going bust.” Furthermore, he spoke about the underlying technology of Ethereum known as smart contracts, stating that there was “nothing about them that is smart” as they were buggy. Moreover, he believed that any contract has to be enforced by lawyers “by definition”, stating that putting it in code was “silly to begin with”. The post Bitcoin [BTC] is not going to disappear, but Ethereum [ETH], XRP and others are “going bust”, says Roubini appeared first on AMBCrypto.

2 months ago

In rural India, birth control and family planning are the mother-in-law’s purview

In Jharkhand, in eastern India, the land is rich but the people are poor. It’s the second most resource-rich state in the country, but 39% of the population lives below the poverty line. In the capital, Ranchi, luxury hotels and retail shops crowd the main roads. Businesspeople travel to the city to deal in Jharkhand’s natural resources: iron ore, copper, uranium. Once you leave Ranchi, it’s easier to get a grasp of Jharkhand’s landscape: sprawling fields, shady trees, and long, winding roads. Small, square ponds appear by the sides of the road, with steps that indicate they’re man-made—an old-fashioned system for water preservation that’s currently going through a revival. As we drive through one village on a sunny afternoon, a health care worker tells me that the people here are refusing all government services, including health care, as a form of protest. The people of Jharkhand frequently clash with the government over resources, protesting laws that make it easier to dole out land to corporations, or to mine it for uranium. Just 20 miles from the hotel bars and government chambers where these decisions are made, I’m heading to a very different kind of gathering. In the village of Khunti, families meet periodically for Saas Bahu Pati Sammelan, which translates to “meeting of the mother-in-law, the daughter-in-law, and the husband.” These meetings, facilitated by the Jharkhand government, are intended to improve communication in rural Indian joint-family households. Traditionally, a bride will move into her new husband’s family home, where she’ll often be subjected to the demands of her new family, especially her mother-in-law. Family planning is often the mother-in-law’s purview, partly because open discussion of sex can be taboo in marital relationships in rural India. The meeting area is a raised concrete platform covered in what appears to be felt, for comfortable seating; when I arrive, women of various ages are milling about, until Kanan Balan, the district program manager, calls for them to be seated. A small group of young men are already sitting quietly on one side, smiling nervously. They’re less boisterous than the women, who will talk and laugh and interrupt—and at one point burst into song—during my interviews. The loudest of the women is Sunita Malhotra, one of the mothers-in-law, who teases me for not understanding dialect. “We don’t cuss out our daughters-in-law anymore,” she tells me, smiling. “Before, we did it a lot. It was very abusive.” She tells me that she now understands that daughters and sons need to be educated equally, and that it will be easier to take care of a family with fewer children. “We’ve all become very wise.” When I speak with other, younger mothers, they talk about family planning with shy confidence, about how it will be easier to care for young children if their ages are spaced out a bit. But eventually, as I’m scanning the group to see who else I can speak with, I realise the men have all quietly left. Perhaps they would have been more comfortable if they hadn’t been so outnumbered—in a reflection of a national pattern, all of the health care workers present are women. In India, the idea that open communication and male involvement are keys to improving family health is slowly gaining ground. The Sammelan, meant to encourage direct communication, is part of that. This solution may seem simple and intuitive, but men and women in rural India are suspicious of many of the contraceptive options the government has on offer. The mother-in-law will often preside over family planning decisions. Some experts chalk these doubts up to old-fashioned ideas, patriarchal culture, and poor education—all of which are undoubtedly factors. But the Indian government has frequently failed to prioritize individual well-being when it comes to family planning. These broader structural challenges come on top of family dynamics that make communication difficult. In a 1997 study, Indian men identified “shyness” as the number one reason they were unwilling to speak about family planning in their relationships. This means that the mother-in-law will often preside over family planning decisions. Generally, a mother-in-law’s priority is having grandsons, hopefully more than one. She’s also likely to encourage sterilisation as the only contraceptive—and ideally a daughter-in-law should have as many sons as possible before she starts using contraception. In a study(pdf) conducted by Arundhati Char, Minna Saavala, and Teija Kulmalain in 2010, mothers-in-law also prefered sterilisation because they saw it as a more “decent method.” One mother-in-law told the researchers, “When I went to the hospital with my daughter-in-law during the delivery of her last child, the doctor showed me some condoms and suggested that I ask my son and daughter-in-law to use them. I refused to even hold one in my hands. I don’t want such dirty things in my house.” Another added, “When there is sterilisation, why tal

2 months ago

A new Weekly $BURST Report is out - Scavenger v1.6, Burst Ex...

A new Weekly $BURST Report is out - Scavenger v1.6, Burst Extensions, Global Stickers Campaign, and more! Get the l… https://t.co/BB4LcxUUyb

2 months ago

Report: Bitcoin Fails to Capitalize on Pressing World Economic Issues - Odds Don’t Look So Favorable in the Future

Business Wire reported on Oct. 9 that Juniper Research, a UK-based research firm, released a report stating that Bitcoin’s price not only has plummeted since the beginning of the year but also has failed to take advantage of ongoing US-China trade wars, weak fiat currencies, and Brexit uncertainty. The report, entitled “The Future of Cryptocurrency: Bitcoin & Altcoin Trends & Challenges 2018-2023,” further claims that if Bitcoin fails to recover on such favorable conditions, how can it recover when the conditions change for the better? The same report also highlighted that the daily transaction volume is down to 230,000 in Sept. 2018 from as high as 360,000 in late 2017. Bitcoin’s Favorable Conditions Which It Should Have Capitalized On Despite a slow start to the year because of uncertainty in regulation, Bitcoin was handed a lifeline by some negative economic developments as the year progressed. Firstly, it was the collapse and weakening of fiat currencies, and this was expected to work directly in favor of cryptocurrencies. Venezuela introduced a national cryptocurrency backed by oil and natural resources as a countermeasure to hyperinflation, which had eroded the country’s fiat currency. In August, the country reformed its financial system by introducing a new currency denomination, the bolivar sovereign, which is closely tied to the defunct bolivar but had fewer zeros. Still, in South America, Argentina’s currency, the peso, has lost more than half of its value since the beginning of the year because of runaway hyperinflation, fiscal deficit, and debt obligations. Other currencies that have weakened this year include Mexico’s peso, Russia’s rubble, Turkey’s lira, Brazil’s real, India’s rupee, and South Africa’s rand. In June, US President Donald Trump accused China of intellectual property theft in a White House statement and imposed “a 25 percent tariff on $50 billion of goods from China that contain industrially significant technologies.” Trump warned China against retaliation. China, unfazed by Trump’s threats, accused Trump of triggering “the largest trade war in economic history” and retaliated by taking similar countermeasures on US imports. The trade wars will slow down world economic growth, which was projected by the International Monetary Fund to expand by 3.9 percent in 2018 and 2019. Another big issue this year is Brexit and the effects of its uncertainty in the UK and the eurozone. It will have implications for both the UK and Europe at large. For example, a bad Brexit deal will put 40,000 automotive jobs at risk. Bubble in the Making The study also questioned the prospects of Bitcoin in the future because of strict regulatory measures and how the cryptocurrency is evaluated. In the report, Dr. Windsor Holden said: “Bitcoin has no intrinsic value. Like any asset, it is worth whatever someone is prepared to pay for it, but it has no meaning or existence beyond the confines of the ledger. It is a bubble, and there is a strong possibility that this bubble could burst in the near future.” Report: Bitcoin Fails to Capitalize on Pressing World Economic Issues - Odds Don’t Look So Favorable in the Future was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2 months ago

Bitcoin [BTC] and cryptocurrencies are the biggest bubbles, scams in history, says Nouriel Roubini

An unceasing critic of Bitcoin [BTC] and other cryptocurrencies, Nouriel Roubini, alleged that cryptocurrencies are the “mother of all scams”, in a recent statement. In a testimony for the hearing of the US Senate Committee on Banking, Housing and Community Affairs On Exploring the Cryptocurrency and Blockchain Ecosystem, he also said that blockchain was the most “over-hyped technology ever”. He compared blockchain to a normal spreadsheet and database and said that it was only as effective as them, irrespective of whatever technology it was using. The financial market expert, popularly known as Mr. Doom for his perpetual bearishness, said that we were in a post-apocalypse world following the cryptocurrency bubble burst a year ago. He blames the wrong attention for the “maniacal frenzy” for buying Bitcoins and said that it was a breeding ground for illegal activities. He states in his testimony: “Scammers, swindlers, criminals, charlatans, insider whales and carnival barkers (all conflicted insiders) tapped into clueless retail investors’ FOMO (“fear of missing out”), and took them for a ride selling them and dumping on them scam(my) crappy assets at the peak that then went into a bust and crash - in a matter of months - like you have not seen in any history of financial bubbles.” Mr. Doom then goes on a wild goose chase mentioning the drop in prices of all cryptocurrencies. He quotes a study that had revealed that “81% of all ICOs were scams in the first place, 11% of them are dead or failing while only 8% of them are traded in exchanges” and calls the current state a true Crypt-Apocalypse. For a currency to be valid, he says, they need to be a means of payment, should be a serviceable unit of account and a stable store of value. As the markets are volatile, he argues that Bitcoin can never be a currency. Investors and consumers would rather trade BTC to make a profit than use it as a day-to-day currency. He says: “As is typical of a financial bubble, investors were buying cryptocurrencies not to use in transactions, but because they expected them to increase in value... It is so energy-intensive (and thus environmentally toxic) to produce, and carries such high transaction costs, that even Bitcoin conferences do not accept it as a valid form of payment.” His testimony then goes on to explain why Bitcoin was deflationary. As they don’t have any intrinsic value and does not track a potential nominal GDP, they will undergo deflation sooner or later. The post Bitcoin [BTC] and cryptocurrencies are the biggest bubbles, scams in history, says Nouriel Roubini appeared first on AMBCrypto.

2 months ago

Which blockchain could become the Ethereum Killer?

When Ethereum burst onto the scene in 2015, this second-generation blockchain technology was to be everything that Bitcoin was not. More secure, more adaptable, more intelligent, and more future-proof than the first generation grandfather of the cryptocurrency revolution. Originally the brainchild of Bitcoin Magazine co-Founder Vitalik Buterin, the concept for Ethereum was born in a ...

2 months ago

Cryptocurrency Can Function Without 'Tapping Power from the Grid'

The increase in the popularity of cryptocurrency has prompted the introduction of new coins which aim to solve diverse problems. For instance, ECO coin rewards people for environmentally sustainable actions. Similarly, Burst is a coin whose developers have found a way to tap into solar energy. According to Burst’s team, they have managed to perform a cryptocurrency transaction using a combination of solar power, short-wave radios, and blockchain technology. Burst says that it has conducted the first off-grid cryptocurrency transaction in history. Best of all, the Burst team asserts that the technology used is not expensive. (KE)

2 months ago

#ETN’s awesome run in the press continues! This fantastic pi...

#ETN’s awesome run in the press continues! This fantastic piece from Ethereum World News covers our recent burst of... https://t.co/wGgLCnPTB7...

2 months ago

How Do You Ethereum? A Step-By-Step Guide • Benzinga

When blockchain burst onto the scene at the beginning of the decade, few people took notice. Then, as the value of cryptocurrencies like Bitcoin grew, suddenly everyone wanted a piece of the action. Ethereum offered different products than Bitcoin, yet still built on blockchain concepts What is a blockchain? Blockchains are giant digital ledgers where...

2 months ago

Harnessing Solar Power and Radio Waves to Transmit Cryptocurrencies

In more serious discussions about the viability of blockchain and cryptocurrencies as a store of value and means of exchange, one point of contention is the reliance on the power grid, which can be controlled by a government or taken down. The blockchain platform Burst (BURST) seeks to address these concerns by creating a solar-powered blockchain that operates completely off-grid. The project claims to have completed a solar-powered cryptocurrency transaction using short burst radio waves, potentially making them the first project to have performed a fully off-grid transaction. (JF)

3 months ago

http://www.8btc.com/bytom-bigbang

The Block chain Toggle navigation BigBang: asset-specific public sector chain than the original version of the first test network release Block Chain Information 2017-09-29 16:45 Posted in Block Chain 0 1085 Hangzhou is not only the birth of innovation in the Internet such as the Internet giants, but also the emergence of a batch of scientific and technological innovation enterprises, in their respective areas to the world to see China's innovation strength. September 29, 2017, Hangzhou, China team developed the field of asset-specific public chain platform than the original chain (Bytom) officially released the first version of the test network, code-named "BigBang" - this is the first for the public in Hangzhou Block chain project. This version includes Bytom Core (Bytom core) and Bytomcli (Bytom's client tools), mainly by Golang implementation, the project with a complete test case, the core code has been open on the Github. The In the BigBang version, compared with the original chain to achieve a "multi-asset interaction function," the basic block chain structure design, the main functions are as follows: 1, to achieve a complete P2P block chain node communication module, based on the Reator mode node subscription communication message to block and transaction synchronization; 2, to achieve the basis of public and private key management functions, and leave enterprise-class service interface, the future can docking enterprise-class hardware security module HSM (Hardware Security Module); 3, to achieve the multi-asset release (Issue), pay (Spend) the basic functions, and programmable scripting system (Control Program); 4, the innovative addition of the class "segregation witness" (SegregatedWitness) function, increasing the flexibility of the transaction. "The next version of the test network, we will focus more on the integrity and high availability of asset interactions, and access the block-chain assets through a similar domain name," said Yuyyu, who is in charge of the original chain development team. look forward to." It is understood that the original chain project was launched by Babbitt in January 2017, committed to connecting the physical world with the digital world, creating a diversified asset registration, circulation to the center of the network, can be diversified asset registration, exchange , Gambling, and contract-based, more complex interoperability. At present, there is no complete, effective block chain agreement system is designed for diversified bit assets, compared to the original chain is designed for the field of asset-specific private chain platform, for which technically carried out 8 Big innovation: 1. Compatible with UTXO design in traditional block chain; 2. Universal address format; 3. Support national standard; 4. Asset naming using ODIN logo; 5. Artificial intelligence ASIC chip-friendly POW (Proof of Work, Proof of Work); 6. Support for side-chain and cross-chain asset operations; 7. Class "Segregated Witness" design; 8. Enhanced transaction flexibility. Since June 2017 issued a project white paper, than the original chain team that is threw himself into the project development. The test network to complete the first part of the technical verification, can be described as rapid progress. It is worth mentioning that the BUTXO block chain asset release trading system based on the UTXO extension model is compatible with the UTXO model and transaction data structure of the bitcover to achieve high-speed concurrent and controllable anonymity. There is already a prototype available in the BigBang version. In addition, isolation and verification and matching BIP173-based new address format and a series of front-end block-chain technology are added to the BigBang version. In the project development process, than the original chain regularly announced the project development process every week, and according to the feedback on the development plan to make the appropriate adjustments. The release of the code-named "BigBang", meaning the Big Bang, then the formation of atoms, life was born. In this group of block geek's eyes, the test network as the Big Bang, as indicates that the future than the original chain will burst out of endless potential, so that the atomic world and the world of communication possible. BigBang's release is more exciting than the original chain of technical supporters, from more than a dozen countries than the original chain "iron powder" who also sent a congratulatory video, so that the original chain development team encouraged. It is understood that, than the original chain of members of the team, the underlying developer Gavin has worked in the US 500 company ARRIS GROPU for many years, participated in the Banknote Research Institute digital bill of the chain of the underlying development, Ethernet Square code developers; smart contract virtual machine development James is the designer and developer of the Magmic Inc distributed ga...

a year ago


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