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Early Bitcoin Bull Calls BTC Run to $250K, Ripple Backs Crypto Research Initiative, and Binance Prepares for Liftoff From Ethereum

Bitcoin The author of the 2013 book ‘Bitcoin Explained Simply’ says he stands by his prediction that Bitcoin will reach a “third act” that will bring the price of BTC to $250,000. On The Next Billion Seconds podcast, Mark Jeffrey compared the crypto bear market to the crash of the dot-com bubble that began to burst […]

a day ago

Bitcoin Whales Move Millions in Crypto As Ripple Fires Off 52,750,000 XRP in Over-the-Counter Transfer

One of Ripple’s over-the-counter crypto accounts has burst to life, sending 52,750,000 XRP worth $15.3 million to an unknown wallet. 🚨 52,750,000 #XRP (15,380,245 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet Tx: https://t.co/UkmUKfT0ia — Whale Alert (@whale_alert) February 6, 2019 As movement from an OTC distribution wallet, it appears to be Ripple selling […]

3 days ago

Failed: Millennials Take and Flunk a Cryptocurrency Exam

2018 was the millennials’ year for the cryptomarket. Sadly, it may also have been the last millennials’ year. Young people who dreamt of entrepreneurial opportunities have finally discovered the niche which allowed them to bring to reality their visions of vast, fast money. But almost as quickly as things got underway, they stopped. Experts at ICOBox’s International Blockchain Research Center (IBRC) reached a sad conclusion: the tough business environment was no place for pipedreams, and enterprising youngsters are now being steadily replaced by seasoned crypto business sharks. Looking back at the wild ride that took place on the cryptomarket in 2018, many will say that millennials didn’t stand a chance. But that’s not true at all! A chance they did have, but only select few were able to take advantage of it, and those few were the most sensible and prudent. The problem with millennials is that they are brilliant at brainstorming and coming up with fantastic ideas, but they tend to lose steam under the daily grind of trying to bring their grand plans to fruition. Rather than building their own businesses from scratch, they have an easier time climbing up the corporate ladders - this is more convenient, less risky, and calls for a lot less responsibility. Crypto industry presented an amazing opportunity even to those that had nothing more valuable to their name than a 50-page White Paper and a grasp of the basics of economy, marketing, and IT that they likely gained in college. Having been given green light to express their creativity in the crypto space without putting in too much effort, they jumped in feet first. Sadly, some seemed to have left their thinking caps behind. Some took promises of $50K bitcoin at face value, dived into day trading and lost their shirts. Others got together with childhood friends to launch their startup, made their first million via an ICO, and then got completely lost when it came to actually developing their business. These also lost much. The shrewdest, it appears, were those who just grabbed their ICO haul and vanished into thin air. “The problem with all of these examples is that none of them have anything to do with real business. Because when we hear ‘Give us money, and we will think of something’ instead of ‘We have thought everything through, we just need the funding,’ it is usually bad news,” explains Dima Zaitsev, Head of International PR and Business Analytics at ICOBox. “It rarely translates into anything of value - and this is why we are seeing these kinds of depressing stats for the number of failed or downright fraudulent ICOs in 2018.” The crisis in the crypto market has already pushed out whole crowds of newbies and adventurers, and in the long run, only the strongest will remain standing. Small-time, individual investors will be replaced by large players who will not be interested in the slim pickings left over by millennials but will create a new market that will successfully operate on their own terms. The crypto market capitalization will start going up when these companies launch their products and they will be fairly appreciated and valued by the market. Along the way, a new market will likely emerge and evolve - that of security tokens and security token offerings (STOs). This mechanism will help projects that never before had access to funding find and connect with their investors. A convergence of blockchain technology and legal regulation will give way to new business models, and because this new approach will help give value to vast amounts of previously unmarketable assets, the market will see a great influx of new capital. The Wild West era is over: the market is shifting and growing up. “We saw something quite similar in 1998-2000, and we remember how it ended. The giant and empty dot-com bubble burst and those who overestimated their abilities or chose their development strategy unwisely were tossed aside by the powerful market forces,” reminds Dima Zaitsev. “On the other hand, that crisis also brought us such giants as Google, Amazon, Apple, and many, many others. I wouldn’t be at all surprised if they now ventured into the crypto market to bring new revolutionary solutions to the world.” And somewhere in the bowels of these new crypto projects, there will be millennials who will be working on building their bright corporate future - the very same millennials that were so close to becoming the embodiment of the new, 21st-century business models. But it’s time to accept the truth: this test they flunked. Image: Pixabay The post Failed: Millennials Take and Flunk a Cryptocurrency Exam appeared first on Live Bitcoin News.

8 days ago

OAX: DEX With Reported 1K TPS Hopes For Mass Adoption

OAX, a Hong Kong-based decentralized trading platform, announced last Friday they had successfully deployed a new scaling protocol which, they claim, enables it to handle 1,000 transactions per second (tps). Still in testnet, they argue this will improve DEX usability and hopefully facilitate mass adoption. Wayland Chan, Director of Technology at the OAX Foundation, explained one of the key roadblocks preventing traders from using DEXs was scalability. Most operate completely on the blockchain - order book and all - placing limitations on their performance. “Our internal research team found that pretty much all DEXs had the same offering”, Chan said on the phone. “[But] the feature and functionality were limited by the blockchain”. Looking for a solution, OAX developers explored means to improve performance. They settled on state channels. Transactions between two parties take place off-chain and eventually settle on the blockchain; making trades faster and cheaper as well as removing the strain on the network, thereby improving performance for all users. About a month ago this was still an unproven concept for OAX. Chan admits it took “a lot” of research and development. But in December they tested the layer 2 protocol on a local network; it had a throughput of 1,000 tps on a single node. He explained that scalability will increase as more nodes join the network. Chan said. “We have designed the system to scale horizontally and although increases won’t be linear - 10 nodes doesn’t necessarily mean 10,000 tps - this was still a huge breakthrough”. Now deployed onto a testnet, OAX’s next priorities are to identify any defects or bugs in the protocol and start talking to potential business partners. Chan said they were already in discussions with centralized exchanges - who he wouldn’t name - that may use OAX for a decentralized trading platform. DEX mass adoption still out of sight Decentralized exchanges give users autonomy over their assets. Unlike their centralized equivalents, there’s no exchange wallet, minimum deposits or withdrawal restrictions; users hold, and are responsible for, their own cryptocurrencies. With no single point of failure, users are better-protected against hackers. Thefts, like the recent one on Cryptopia, simply can’t happen on a DEX. The problem is many are slow and expensive. Without a central server or enough users, most suffer from liquidity issues. This acts as a Catch-22: user experience would be improved by more users, but it’s hard to attract more users with poor UX. IDEX is currently the largest DEX. Statistics site Etherscan found IDEX accounted for more than 55% of all transactions made on a DEX in the past seven days. Sizeable. But in comparison to the trading volumes of the centralized exchanges, IDEX, not to mention other DEX’s, are minnows. Whereas roughly $540,000 went through IDEX in the past 24 hours, $430M went through OKEx and $490M went through Binance, in the same timeframe. Removing one of the roadblocks Exchange development took a backseat in 2017 when the sector experienced significant growth in users. Now that the bubble has burst, Chan believes it’s time to build trading platforms without centralized intermediaries, antithetical, in his opinion, to the whole purpose of the blockchain. This echoes views voiced by Ethereum (ETH) founder, Vitalik Buterin, who criticized the power centralized exchanges had in determining which coins are successful, “I definitely personally hope centralized exchanges burn in hell as much as possible.” There’s more that needs to be done. Users are often uncomfortable remembering a string of random words as a private key. Chan believes this can be simplified. But Chan believes the layer 2 protocol removes one of the major roadblocks preventing mass adoption for decentralized exchanges. Better scalability would attract more users, which by increasing liquidity would improve the overall user experience. If all goes according to plan, Layer 2 may become the DEX equivalent of the lightning network. The author is invested in digital assets, including ETH which is mentioned in this article. Join the conversation on Telegram and Twitter! The post OAX: DEX With Reported 1K TPS Hopes For Mass Adoption appeared first on Crypto Briefing.

8 days ago

New Crypto Reveal Could Be ‘Bigger Than Bakkt and Bitcoin ETF’ Combined, Plus Ripple and XRP, Tron, Ethereum, Zcash: Crypto News Alert

From a potential Bitcoin bombshell to a controversial report on Ripple and XRP, here’s a look at some of the stories breaking in the world of crypto. Bitcoin and Ethereum A series of images that surfaced on Twitter are creating a burst of speculation in the cryptoverse. The images allegedly show the unreleased Samsung Galaxy S10 […]

18 days ago

Analyst: Bitcoin to Bottom Out At Below $3,000 But it Could Easily Achieve 6-Figure Price

Crypto’s most fervent diehards have often been lambasted for their Bitcoin (BTC) price forecasts. Blockchain project promoter John McAfee, the eccentric millionaire behind the cybersecurity company that shares his surname, called for BTC to surpass $1 million by 2020’s end, claiming that he would consume his family jewels if the prediction doesn’t come to past. And while there’s a lot on the table — literally — his irrational claim, not backed by any form of technical or fundamental analysis, has put the now-crypto insider in a tough spot. Yet, there are analysts out there that have tried to rationalize ludicrous BTC forecasts. And one such commentator recently took to Twitter, conveying his thoughts on why the foremost cryptocurrency may eventually burst out of its quintuple digit cell. Related Reading: Big Predictions for 2019: Bitcoin Heading for New All Time High The $333,000 Bitcoin Prediction Weeks ago, as reported by NewsBTC previously, Filb Filb, a pseudonymous crypto trader known for conveying some zany price predictions, took to his Twitter feed to post a single chart, released in tandem with a nebulous message — “this time it will be different.” The chart, which highlighted Bitcoin’s entire history as a liquid asset, accentuated the asset’s multi-year cycles, seemingly bred from BTC’s issuance schedule. Basing his chart on historical analysis, Filb drew lines that indicated that BTC could bottom anywhere between $2,500 and $3,100 in the following 12 months. It was noted that if the cards play out correctly, the cryptocurrency could breach $10,000 for the first time since late-2017, starting a run to the auspicious $333,000 price point. While Bitcoin’s historical price action lined up with this pseudo-prediction, no fundamentals were explained. And as such, skepticism ensued. Yet, nearly four weeks later, Filb has taken to Twitter again, releasing a 14-part thread on why his $333,000 call makes sense from a fundamental point of view. Crypto Analyst Rationalizes Forecast In a recent tweet storm, built on the premise of coming “up with a demo as to [prove] how BTC could easily achieve a six-figure valuation,” Filb laid out a number of fundamental inputs, including Bitcoin’s supply & rate of adoption, total global financial transactions, and worldwide debt. After combining data sets and crunching an array of numbers, the trader, who sports over 10,000 followers on Twitter, determined that new BTC supply is “positively correlated with price.” The trader added that Bitcoin likely processes a minimum of 0.03% of all global transactions, citing an estimate that one billion financial processes are completed each day. Doing some napkin math, taking the swelling worldwide debt sum of $274 trillion and combining it with BTC’s current level of adoption, Filb determined that a fair valuation for Bitcoin is ~$74 billion. Claiming that four million BTC is lost to the world, likely referring to a Bitstamp report on the matter, Filb then calculated that the cryptocurrency should be valued at $5,500 per unit, meaning that the broader market is currently undervaluing the asset by 37%. However, that’s not to say that the cryptocurrency can’t see its use swell in the years to come. And this didn’t slip under Filb’s radar, as the trader went on to impose this model on a “long form valuation” chart for Bitcoin, which took all the aforementioned factors and variables into account. By his logic, considering the Internet industry’s historical growth cycles of staggered booms and busts, he illustrated trends that accentuated that if all pans out for the world’s first blockchain, BTC could eventually enter the million dollar range. Yet, remaining cautiously optimistic, Filb noted that his model is inherently flawed, even quipping that there are areas “where you could drive a bus through it.” Regardless, he made it clear that the cryptocurrency market will be in for the ride of its life, even if his model doesn’t click with investors worldwide. He even stated, “when the herd comes... hold on to your pants.” Filb isn’t the only industry insider who has attempted to bring rationality and cold, hard numbers to price predictions. Trace Mayer, one of the earliest Bitcoiners and an advocate for anti-establishment movements, explained that with the advent of Lightning Network and other innovative protocols, coupled with the eventual influx of Wall Streeters, BTC will become the de-facto go-to investment for any intelligent consumer. Mayer even quipped that holding BTC will easily outpace an IRA or 401k, as the latter investments may get nationalized over time, or get printed straight out of existence (hyperinflation). Featured Image from Shutterstock The post Analyst: Bitcoin to Bottom Out At Below $3,000 But it Could Easily Achieve 6-Figure Price appeared first on NewsBTC.

20 days ago

The Origins of Economic Decision Bias and How They May Relate to The 2017 Bitcoin Bubble

Research in behavioral economics over the past few decades has shown that people’s decisions often deviate from those of “homo-economicus,” the selfish rational agent who is the hero of most economic theory textbooks. These deviations (also known as “decision biases”) often lead to suboptimal outcomes in the individual and the societal levels and have become the target of various policy interventions. For instance, in 2017, Bitcoin reached $10,000. While the figure $10,000, by itself, doesn’t deliver much beyond the fundamental price information, this number had significant psychological implications. Because humans generally think in round numbers, hitting the $10,000 threshold has become an important event that made it to the front page of the evening news. Behavioral economists have characterized many other systematic decision biases that unlikely reflect arbitrary mistakes. But what is causing them? The 2017 Road to 10K. Source: Visualcapitalist Contemporary humans face decision problems that are quite different from those that our ancestors had encountered. Deciding whether to go hunting or foraging for grains is different from choosing between 30 types of barbecue sauce on the supermarket shelf; forecasting tomorrow’s rainfall based on today’s weather is not the same as predicting tomorrow’s Bitcoin prices based on today’s market. As our brains have evolved in environments that do not resemble modern markets, we might rely on assumptions that are no longer optimal when making economic decisions. In contrast to financial decision-making, humans seem to make reliable judgments and decisions in the perceptual domain. Although sensory illusions are pervasive in carefully controlled experiments under unnatural settings, people are remarkably good at making sense of perceptual information as they navigate the chaotic world outside the laboratory. Past documentation of a visual illusion in the field, a photo of a blue dress that seemed white to the majority of the population, was regarded with so much astonishment, that it became a worldwide internet sensation overnight. As our brains have evolved in an environment governed by the same regularities that operate today (i.e., mechanical, optical, and acoustic physical laws), we still benefit from relying on the same computations that our ancestors’ brains had used when making decisions that translate sensory information into perceptual judgments and motor actions. Bitcoin 2017 as an example for faddish human behavior The year 2017 was a good one for Bitcoin. While the world was Bitcoin crazed, one Nobel Prize winner economist felt that Bitcoin offers a psychological experiment more than it provides investment opportunities. “I’m interested in Bitcoin as a sort of bubble. It doesn’t mean that it will disappear, that it’ll burst forever. It may be with us for a while,” Noble Prize winner Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, told CNBC’s “Trading Nation.” “To me, it’s interesting as another example of faddish human behavior. It’s glamorous,” he added. The Bitcoin rush took Shiller back in history when the tulip mania was in swing. It was the 17th century, and the prices of tulip bulbs peaked to new heights, but later crashed in 1637. This was the first recorded event that demonstrated a bubble due to buyers’ frenzy that threw the prices higher than the real value of the product. Many decision processes in the financial domain have parallels in the perceptual domain. Our sensitivity to light intensity and auditory loudness follows logarithmic laws that resemble the manner in which we encode monetary rewards. We perceive the luminance and size of objects about their surroundings, in a way that resembles framing effects in economic decision-making. Even the compromise and the attraction effects, well-documented phenomena in consumer decision-making, were recently documented in the perceptual domain. These findings suggest that decision biases might arise because our brains apply computational techniques that successfully solve perceptual problems, also when making economic decisions. A recent study, co-authored by Cary Frydman (USC) and yours truly, investigated the common mechanism across the economic and perceptual domains in the context of a specific decision bias, the extrapolative formation beliefs, also known as the belief in the “hot hand”. People often rely on past observations when forecasting the future, even when they contain no credible information. This tendency is thought to underlie market-level phenomena such as over-reaction to news and creation of a price bubble, like in the case of Bitcoin. Intriguingly, extrapolative belief formation is also often found in laboratory experiments of perceptual decision-making: people respond faster and more accurately to sensory stimuli that continue an apparent pattern, even when explicitly told that the sequence is completely random. In the study, Ca

21 days ago

The Origins of Economic Decision Biases and How They May Relate to The 2017 Bitcoin Bubble

Research in behavioral economics over the past few decades has shown that people’s decisions often deviate from those of “homo-economicus,” the selfish rational agent who is the hero of most economic theory textbooks. These deviations (also known as “decision biases”) often lead to suboptimal outcomes in the individual and the societal levels and have become the target of various policy interventions. For instance, in 2017, Bitcoin reached $10,000. While the figure $10,000, by itself, doesn’t deliver much beyond the fundamental price information, this number had significant psychological implications. Because humans generally think in round numbers, hitting the $10,000 threshold has become an important event that made it to the front page of the evening news. Behavioral economists have characterized many other systematic decision biases that unlikely reflect arbitrary mistakes. But what is causing them? The 2017 Road to 10K. Source: Visualcapitalist Contemporary humans face decision problems that are quite different from those that our ancestors had encountered. Deciding whether to go hunting or foraging for grains is different from choosing between 30 types of barbecue sauce on the supermarket shelf; forecasting tomorrow’s rainfall based on today’s weather is not the same as predicting tomorrow’s Bitcoin prices based on today’s market. As our brains have evolved in environments that do not resemble modern markets, we might rely on assumptions that are no longer optimal when making economic decisions. In contrast to financial decision-making, humans seem to make reliable judgments and decisions in the perceptual domain. Although sensory illusions are pervasive in carefully controlled experiments under unnatural settings, people are remarkably good at making sense of perceptual information as they navigate the chaotic world outside the laboratory. Past documentation of a visual illusion in the field, a photo of a blue dress that seemed white to the majority of the population, was regarded with so much astonishment, that it became a worldwide internet sensation overnight. As our brains have evolved in an environment governed by the same regularities that operate today (i.e., mechanical, optical, and acoustic physical laws), we still benefit from relying on the same computations that our ancestors’ brains had used when making decisions that translate sensory information into perceptual judgments and motor actions. Bitcoin 2017 as an example for faddish human behavior The year 2017 was a good one for Bitcoin. While the world was Bitcoin crazed, one Nobel Prize winner economist felt that Bitcoin offers a psychological experiment more than it provides investment opportunities. “I’m interested in Bitcoin as a sort of bubble. It doesn’t mean that it will disappear, that it’ll burst forever. It may be with us for a while,” Noble Prize winner Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, told CNBC’s “Trading Nation.” “To me, it’s interesting as another example of faddish human behavior. It’s glamorous,” he added. The Bitcoin rush took Shiller back in history when the tulip mania was in swing. It was the 17th century, and the prices of tulip bulbs peaked to new heights, but later crashed in 1637. This was the first recorded event that demonstrated a bubble due to buyers’ frenzy that threw the prices higher than the real value of the product. Many decision processes in the financial domain have parallels in the perceptual domain. Our sensitivity to light intensity and auditory loudness follows logarithmic laws that resemble the manner in which we encode monetary rewards. We perceive the luminance and size of objects about their surroundings, in a way that resembles framing effects in economic decision-making. Even the compromise and the attraction effects, well-documented phenomena in consumer decision-making, were recently documented in the perceptual domain. These findings suggest that decision biases might arise because our brains apply computational techniques that successfully solve perceptual problems, also when making economic decisions. A recent study, co-authored by Cary Frydman (USC) and yours truly, investigated the common mechanism across the economic and perceptual domains in the context of a specific decision bias, the extrapolative formation beliefs, also known as the belief in the “hot hand”. People often rely on past observations when forecasting the future, even when they contain no credible information. This tendency is thought to underlie market-level phenomena such as over-reaction to news and creation of a price bubble, like in the case of Bitcoin. Intriguingly, extrapolative belief formation is also often found in laboratory experiments of perceptual decision-making: people respond faster and more accurately to sensory stimuli that continue an apparent pattern, even when explicitly told that the sequence is completely random. In the study, Ca

21 days ago

Op Ed: Bitcoin Mining Attacks Are Overblown

Whenever I claim that bitcoin is the only decentralized cryptocurrency, I get one of two arguments:My X coin is also decentralized.Bitcoin isn’t decentralized because of Core and/or miners.I’ll leave 1 and the first half of 2 for another day, but the “mining centralization” argument is what I want to tackle in this article.The questions I’ll be answering are:Is Bitcoin mining centralized?In what way do miners “control” Bitcoin?What are the risks of a 51% attack?Are the altcoiners right?DecentralizationDecentralization is a key property of Bitcoin. If you remove decentralization, it’s not an interesting project. There have been lots of centralized issuers of money — that’s what causes inflation and why your savings lose purchasing power daily. The response by altcoiners is to argue that decentralization is a spectrum or, barring that, that Bitcoin is centralized.First, decentralization is not a spectrum. It either has a single point of failure or it doesn’t. Centralized things are called centralized because there’s a single point at which everything can fail. You either have a centralized point of failure or you don’t. There’s no real in-between like altcoiners would have you believe. Altcoins all have one or more of these properties which create a single point of failure:A creator that’s still involved;A development team that forces upgrades on all the users (hard forks); orA foundation/organization which directs what the coin will do.Some have more than others (ETH has all three vs. XMR which has just the second); in that sense, you can say something has more single points of failure than others. Nevertheless, the fact is that if at least one single point of failure exists, the token is centralized. A government could very well control the coin with whatever regulations it wants through that single point of failure. They could, for example, arrest the creator, tax the dev team or nationalize the foundation or organization. The method by which an authority can take over doesn’t really matter here: The fact that it can is what is of concern. Centralized coins have the potential to be taken over relatively easily.The question here is whether bitcoin mining is a single point of failure. Could a government or other authority control Bitcoin through controlling a single entity in mining? Much has been speculated about this and that is the subject of this article. What would it actually take to “take over”?What Miners Can DoThe miners’ job is to secure the network. They do so by finding proof of work. Having 51% of the network hash power gives a single miner the ability to attack the network. That, however, is not the same as controlling the network. The attack is limited in nature and affects only the account holders attacked (say, an exchange). This is in contrast to forcing upgrades on the network, which can reset entire balances, inflate the currency or change all sorts of incentives. The latter is real control of the entire network, a real choke point, as the network rules are dictated by a single group. The former is a possible way in which some participants become vulnerable. These are two different things!This distinction is crucial as altcoiners often conflate the two. The two vulnerabilities are not the same. The first is an attack vector with a lot of conditions required to execute, affecting a limited number of people; the latter is the possibility of complete takeover. Think of the former as a weakness in your army defenses and the latter as a takeover of the army for whatever purposes the conqueror pleases. The former still requires the attacker to fight out in the open. The latter is something that can be accomplished without the knowledge of anyone but the inner circle.It is with this in mind that we call altcoins centralized. They can be taken over, conquered, changed by the whims of a few people. Controlling a large amount of mining hash power is not the same as that and the vulnerabilities are limited, not to mention very expensive to execute. This is the difference between a single person in charge of a bank account (who can thus embezzle, run away with the money, etc.) vs. a possibility that a valid wire transfer can be forced to wait a long time before being deposited.Requirements of a 51% Mining AttackTo bring this home, let’s go through how a 51% mining attack must be executed. In order to execute a 51% attack, you first need more hashing power than the rest of the network. This means getting lots and lots of mining equipment, which costs a good deal of money. The equipment currently has long lead times and acquiring the latest generation of miners is notoriously difficult as such equipment tends to be very profitable. Using old equipment is an option, but the savings and convenience of such equipment is more than offset by the inefficiency. Either way, obtaining and running the equipment necessary is really costly. This requires incredible capital investment in order to compete with mi

21 days ago

Bloomberg: Hottest Crypto Tron (TRX) “Rekindles” Bitcoin Bubble Memories

Bloomberg Lauds Tron (TRX) As “Hottest Cryptocurrency” Since Tron (TRX) burst onto the broader crypto scene in 2017, the blockchain project of Chinese origins has quickly become an industry staple. In fact, the project, headed by Justin Sun, a millennial who is supposedly the protege of Alibaba founder Jack Ma, was recently deemed the “hottest cryptocurrency [project] by Bloomberg, arguably the most respected financial media outlet in existence. And this isn’t a baseless claim. Far from, in fact. In the aforementioned Bloomberg feature, Olga Kharif, one of the portal’s in-house crypto-centric reporters, broke down the project’s origins and outlook. Kharif quipped that Sun, 28, with his expertise from founding Peiwo (a Snapchat-esque app for China’s swelling mobile demographic), has rapidly built his brainchild from ‘nothing to something’. Sun’s short, yet meaningful stint at fintech upstart Ripple Labs likely played a role in his project’s monumental rise to fame too. Per data compiled by Ethereum World News-affiliated Coin Price Watch, TRX currently has a market capitalization of ~$1.5 billion... jaw-dropping. Tron has achieved much more than a lofty valuation though, as Justin Sun downed the proverbial red pill in fiscal 2018, acquiring world-renowned file sharing platform BitTorrent for $120 million. And, more recently, Tron’s native blockchain came to life, allowing TRX to migrate off the Ethereum blockchain, which Sun has unfortunately turned into a punching bag. While the project’s history, rife with purported plagiarism and questionable acts, has been lambasted en-masse, Tron has undoubtedly become an intriguing project to watch. Ryan Selkis, the chief executive at crypto data aggregator & provider Messari, told Bloomberg the following in an email: A lot of people wrote off Tron as all hype/marketing and no substance, but they made a lot of noise with the BitTorrent acquisition, and now I think it’s an open question of whether they will be one of crypto’s most high profile ‘fake it til you make it’ success stories. Selkis even quipped that Tron’s come-up has been “wild to watch,” especially considering the mass of cynics calling for the vaporware-built project to dissipate. What’s Next? Although Tron has undoubtedly made it this far, finding a foothold as the ninth most valuable cryptocurrency by market capitalization, many have tried to discern where the project is heading next, with little-to-zero results. Some skeptics have even bashed TRX for its seeming lack of transparency. Yet, Sun, who recently graduated from Jack Ma’s Hupan University, a higher education institution focused on entrepreneurs, addressed these qualms in a phone interview with Bloomberg, divulging some juicy tidbits of insider info. Sun explained that he hopes Tron can become the “most famous brand in the world,” adding that if anyone thinks of cryptocurrency, it may eventually be TRX. In subsequent comments, the crypto-friendly entrepreneur added that he hopes to see the blockchain under his care to start serving corporate clients, adding that the constituents of Oracle and Swisscom can already use Tron for an array of purposes. In conclusion, Sun, who refused to divulge how much TRX he personally owns, took some time to bash Ethereum’s Serenity plan, quipping that “it may cost them (being Ethereum) a year or two to migrate [to PoS], and that seems optimistic.” Tron reportedly also has plans to move over to that innovative consensus mechanism. The Bloomberg feature didn’t have an effect on the value of TRX. At the time of writing, the popular crypto asset is down a mere 0.14% in the past 24 hours, finding itself sell for $0.0249 apiece. Tron News Roundup Tron’s Foremost DApp Surges In Volume (Ethereum & EOS Are Beat): DApp Radar has revealed that Tron’s leading decentralized app (DApp), TronBET, posted millions of dollars of volume recently. In fact, as per Tuesday, 24-hour volumes on the gambling blockchain product had risen to 1.5 billion TRX ($38.7 million). The seven-day volume for the application was at a staggering 5.3 billion TRX, valued at $140.1 million — nearly 10% of TRX’s aggregate market capitalization. In comparison, Ethereum-based IDEX, the blockchain’s most utilized decentralized exchange, posted 1.9k Ether ($241k) in 24-hour volumes. Ethereum’s leading gambling app, FCK, posted a more respectable 4.6k Ether. ABCC Lists TRC10 Tokens: ABCC recently launched that it collaborated with Tron to list TRC-10 tokens on its exchange platform. niTron Rounding The Corner: The niTROn Summit, a TRX-centric event hosted by Justin Sun & crew, will start on January 17th and run for two days. The blockchain event will expectedly see Kobe Bryant, the de-facto king (prince in the eyes of some) of basketball Justin Sun, and an array of others make keynote presentations. Many optimists believe positive announcements for Tron and the cryptosphere at large will be made at the two-day conference. BitTorrent Exec Bashes BTT, Justin

24 days ago

Anti-Bitcoin Narrative Flawed: Fortnite’s V-Bucks Use in Money Laundering

Since Bitcoin burst onto the global stage in 2009, amid the breathtaking Great Recession, the crypto has been lambasted for supposedly being a medium for money laundering, illicit activities, and the like. In fact, zealous skeptics, including the likes of BlackRock CEO Larry Fink and heavy-handed governments, have crucified Bitcoin for rapidly becoming the backbone of international crime. Yet, a piece of investigative journalism has revealed that even the effective epitome of human innocence — video game currencies and items — aren’t safe from the money laundering narrative. And with that, I say the anti-crypto narrative of money laundering is flawed, sensationalized, and simple, utter drivel. Who’s laughing now, eh? Related Reading: China Banned Everything Bitcoin, Video Games Seem To Be Next Fortnite V-Bucks — Not As Innocent As Meets The Eye Fortnite’s V-Bucks, the preeminent “Battle Royale” video game’s in-house currency, are innocuous, right? To many, including myself, that would seem to be the case. Save for the whole premise of microtransactions and “pay to play” gaming experiences (Epic Games essentially sells lines of codes to generate millions, if not billions in revenue), V-Bucks are (almost) as innocent as things get. Step one: purchase a Fortnite gift card, or use digital Mediums of Exchange (MoE) to deposit fiat. Step two: buy V-Bucks, watch your account balance skyrocket. Step three: buy items and have fun... I guess? As I am a devout advocate for practicing forced Fortnite abstinence (unlike many of my fellow millennials), I’m not too sure how much pleasure is derived from spending cold, hard cash on V-Bucks. (Maybe I should hop on the train, but I’m not getting the Fear of Missing Out.) But, considering Epic Games’ purported well, epic, profits, some are evidently enamored with the system. To them, it must be money well spent. Rumor has it, certain Fortnite diehards have spent dozens of thousands, if not hundreds of thousands to watch their on-screen stats skyrocket. As the adage goes, “to each their own.” And with all that in mind, I’ve effectively come to the conclusion that yes, V-Bucks are purity in a digital form. Related Reading: Fortnite Founder Big Fan Of “Decentralized Tech” Underlying Crypto Yet, per a deep-dive report from The Independent, U.K.’s premier media outlet, this isn’t the case. Far from, in fact. Per the news portal, the digital asset has made its way into the realm of organized crime. In fact, after sleuthing through online black markets, only accessible via Tor, The Independent determined that these shadowed marketplaces are filled to the brim with V-Bucks. No, this isn’t your average “GET FREE V-Bucks, ACT FAST” swindle, these V-Bucks are the real deal. As bonafide lines of code can get, anyway. In collaboration with Sixgill, a leading cybersecurity firm, the Brit-run outlet revealed that V-Bucks obtained via stolen credit cards, an accessory associated with money laundering schemes, were being liquidated en-masse. Corroborating Fortnite’s newfound, still growing presence on the dark web, Sixgill also determined that mentions of “Fortnite” have skyrocketed in correlation with the game’s swelling profit figures. No estimates have been made as to how much has been generated from this innovative scheme. But considering Fortnite’s popularity, I wouldn’t be surprised if these ingenious, yet shady entrepreneurs are visiting their local Lamborghini dealerships. But will they get a Huracán or Aventador? How about a Veneno? Where Does Bitcoin Fit Into This Imbroglio? You may be left asking, what’s role does Bitcoin play in all this? Well, let me explain. As I hinted at earlier, this accentuates that the narrative that cryptocurrencies are inherently a criminal’s sole tool doesn’t hold its water. Over the years, pundits and incumbents have called for a blanket ban on Bitcoin, specifically due to the blockchain network’s supposed ability to single-handedly enable global crime. Yet, with this new Fortnite information in mind, shouldn’t regulators call to ban Fortnite? The fact of the matter is, they aren’t. This shouldn’t come as any surprise either, as global governments have infamously been oblivious to much of the dark web’s happenings, save for when it involves Bitcoin (look at the Silk Road). In my eyes, governments see Bitcoin as a growing threat to their continued survival. So said entities may just be using cases of crypto-related money laundering to justify stringent regulatory action (or a lack thereof). Weiss’ Cryptocurrency Ratings arm touched on this subject matter. Weiss explained that if 5% (a quite liberal estimate) of all Bitcoin transactions aren’t “clean,” $21.2 billion in BTC was used in illicit activities in 2017. Although this figure may seem nebulous, likely incomprehensible for effectively every human alive, the $21.2 billion sum pales in comparison to fiat’s purported role in criminal activity. In fact, in 2009, the United Nations estimated that crimin

a month ago

Crypto Investor: Bitcoin (BTC) May Surpass Market Caps of Visa & Mastercard In 3 Years

Focus On Bitcoin, Not BTC Since Bitcoin (BTC) burst onto the digital scene in 2009, the innovation, first headed by Satoshi Nakamoto, has been lauded as an optimized, decentralized version of Visa, Mastercard, and the like. And while the narrative has undoubtedly changed over the years, with the “BTC is digital gold” argument becoming a common sight, many believe that the world’s first blockchain network could still usurp centralized networks with ample research, development, and most importantly, time. In a recent edition of Off The Chain, a crypto-centric newsletter and podcast run by Anthony Pompliano, the founder of Morgan Creek Digital Assets and an overt skeptic of banks, it was explaining that Bitcoin could begin to make a move on centralized payment ecosystems. Pompliano, who authored the piece, explained that a spotlight should be put on the blockchain itself, dubbed the “world’s most secure transaction settlement layer,” rather than just BTC itself. And while Pomp made it clear that it is difficult, maybe impossible to value payment ecosystems, as the concept of network value is often abstract, not quantifiable, and still developing, the leading crypto investor did his best to draw attention to Bitcoin’s strong, but lesser-known fundamental measures. Bitcoin, the transaction settlement network, is a sleeping giant —more people should be talking about this. https://t.co/aUwlVWegMn — Pomp (@APompliano) January 15, 2019 Morgan Creek’s founder also quipped that he wouldn’t be surprised for BTC to start making a move on Visa and Mastercard. This move may only be accentuated as scaling solutions like the Lightning Network and other improvements go live and garner copious traction, while Bitcoin’s fundamentals continue to beat that of its altcoin counterparts. Bitcoin’s Market Cap May Surpass Visa & Mastercard... Eventually Citing recently-aggregated data from Diar, a leading crypto-friendly publication and research unit, Pomp noted that Bitcoin’s miners were “paid a total of $5.8 billion in revenue (fiat value of BTC produced) in 2018.” Although these aren’t exact numbers, especially considering the depreciation of BTC and other pertinent nuances or caveats, Pomp explained that this sum, the “top line revenue figure,” would help put Bitcoin’s status in the payment world “into context.” The commentator, known for anti-bank, pro-crypto rhetoric and scalding comments on the establishment, subsequently compiled and visualized basic financial data from Visa, Mastercard, Square, Western Union, and two leading social media platforms to convey a point. Pomp explained that from a revenue multiple (revenue to market capitalization ratio) point of view, Bitcoin is effectively more undervalued that both Visa and Mastercard — “the two transaction settlement networks that are most commonly compared to Bitcoin.” He noted that although BTC isn’t meant to be valued by revenue multiple, a measure often used in traditional markets, this gives context to the underlying blockchain’s performance and pseudo-inherent value. And while BItcoin’s RM is expected to increase over 2019, due to suppressed prices, Pomp made it clear that such a move would be reasonable, “given the fast growth rate and historical premiums given to early companies/networks in an attempt to price in untapped potential.” With all this in mind, he expressed that he wouldn’t be surprised if Bitcoin, currently 1/4th the market cap of Mastercard and 1/6th of Visa, begins to overtake the valuations given to traditional payment networks over the next three years. Ending his analysis piece on an optimistic note, Pomp wrote: The legacy networks were built for a world that we no longer live in and the decentralized network is built for the future. This recent quip comes just days after Pomp took to Ran NeuNer’s Crypto Trader to claim that he expects for BTC to range trade between $2,500 and $4,500 for much of 2019. However, like his Off The Chain post, he remained bullish on the network’s fundamentals, explaining that hashrate quadrupled (at 2018’s peak), while transaction count increased month-over-month from March until now. And, a collective $400 billion worth of value was settled on the Bitcoin network throughout 2018. Title Image Courtesy of Andre Francois Mckenzie Via Unsplash The post Crypto Investor: Bitcoin (BTC) May Surpass Market Caps of Visa & Mastercard In 3 Years appeared first on Ethereum World News.

a month ago

Bitcoin Price Watch: Currency Sinks as New Year’s Hope Starts to Fizzle

At press time, the father of cryptocurrency has fallen by roughly $400 since our last price piece and is once again trading for just over $3,600. This is exactly where bitcoin fell following the bitcoin cash hard fork that occurred just prior to Thanksgiving 2018. The event pitted many industry leaders against each other and was a wide subject of controversy amongst crypto analysts. The trouble is, nothing like that is occurring right now. In fact, we’re still very new to 2019, and thus far, enthusiasm has been high - high enough to give the currency a little boost. Bitcoin had been trading for just over $4,000 during the past week, and while this is hardly a reason to break out the champagne, the move gave enthusiasts some hope, especially considering all bitcoin did during the final two months of the previous year was crash. Chart by VaidoVeek Interestingly, positive sentiment remains for a bitcoin exchange-traded fund (ETF). The one that most analysts claim has the highest probability of becoming approved by the Securities and Exchange Commission (SEC) is one submitted by VanEck Solidx, a joint bitcoin trust venture. The decision regarding the ETF’s approval has been pushed back several times since August of 2018. We are now waiting for February to arrive, which is the designated period for when hopefuls can potentially garner the answers they’ve so desperately sought, though it wouldn’t be surprising to see the decision postponed once again. Still, some believe this isn’t enough of a reason to give up just yet. One of those people is Matt Hougan, a veteran of the ETF industry and a global head of research for Bitwise. He comments: “When the market ran up to excessive levels, there were clear elements of a bubble. Speculative fever that precipitates bubbles doesn’t mean the underlying development isn’t legitimate. It often accelerates it. The technology bubble, for example, burst in 1999 and 2000, but Jeff Bezos is now the richest man in the world.” He’s confident a bitcoin ETF could be approved as early as this year. Joshua Frank - co-founder of the cryptocurrency analytics platform TheTIE.io - believes that while sentiment regarding bitcoin has fallen somewhat into negative territory, the latest price backtrack is just a simple correction, and not likely to lead to anything serious. He states: “For bitcoin, hourly sentiment actually dropped negative at 3:45 PM yesterday and remained negative throughout the drop. Bitcoin’s hourly sentiment has remained negative, and it is ranked 113th out of the 118 coins that we are currently tracking sentiment on, but our longer-term sentiment metrics are much more neutral on bitcoin.” Bitcoin Charts by TradingView Image(s): Shutterstock.com The post Bitcoin Price Watch: Currency Sinks as New Year’s Hope Starts to Fizzle appeared first on NullTX.

a month ago

Warning to ICOs - Junk the Lottery Mindset!

Early in October 2018, after years of growth, investors appear to be spooked by rising bond yields that have been drawing some out of the stock market. Fears of further falls led others to sell their holdings. The best-performing stocks over the past year - which include the so-called FAANG companies of Facebook, Apple, Amazon, Netflix, and Google - took some of the biggest losses on Wednesday, October 17, 2018. Amazon lost 6.2% and Netflix gave back 8.4%. How are ICOs affected by these turn of events? The bear markets of 2018 have generally hit ICOs hard. It has become extremely difficult to raise capital due to related factors in a domino effect - ICOs don’t have organic user growth from an appreciating cryptocurrency, exchanges slow down listings, team morale suffers, and ICO big investors become unhappy. Autonomous Research found that ICOs raised over $7 billion in 2017 and close to $12 billion in 2018, with some mega projects raising billions of dollars each. ICOs democratize fundraising, wrestle control out of centralized institutions and give it to users, align the incentives of a diverse ecosystem of stakeholders, and launch fundamentally new kinds of businesses built on crypto economies. Idealistic growth, right? Take note that the tokens sold are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project launches. For those in the blockchain and crypto community, there’s this related all-important question: Why don’t ICOs cash out after raising funds, but keep risking for more - and lose everything? The KEY is basically this: Lessons from mistakes of past ICOs CANNOT save you in the future because the times are changing and the errors that people would make or have made are very different. What was right in 2017 is no longer right in 2018; what was right in 2018, is so wrong right now. The bitter pill to swallow is this: If someone looks at those success stories for good strategies to implement, that’s not going to work. On the other hand, you can learn from past mistakes and failures but cannot expect success just by avoiding them. As an advisor, I’ve always insisted on being able to see ALL operations for a long-term projection. Some ICOs claim that the project isn’t going to convert to fiat right after the fundraising, but I think that’s foolish. Coins are unstable but the primary reason you raise funds is to build a company. A company you have equity in. Equity is stable (in correlation to how stable the company is) but the two economies are completely different. Rob Toth, CEO @OODIENCE and Founder @Blockchainova, once confided to me, “More and more insider stories made it evident to me that cashing in coins right away isn’t the norm. Yet that’s precisely what I’d want to do. It’s the sole reason for a fundraising - use the funds to build the company (build equity value) and you don’t risk your capital like that.” He continued, “That ends up being a model where the corporation is making a high-risk investment. It’s comparable to a traditional company taking a bank loan or a startup grabbing millions in fundraising and then putting THEIR COMPANY’s OPERATIONS MONEY into high risk, volatile assets as investments.” Moral lesson: You don’t use the company money to invest in other assets and companies unless you’re at that phase of company maturity and have such excess capital from REVENUES (not from investments). You raised money for a STARTUP in order to build the COMPANY. I think it’s rookie and first-time CEOs who have greed in their eyes and think “Wow, we can keep our company money in these highly volatile digital assets, and it can make even more money for our company, while we also use that same pool of money to grow the company.” Rob Toth had also emphatically stated, “People invested and gave their funds in hopes that you’ll utilize it to grow the operation because if you develop a strong company, THAT is how the coins they received go up in value.” Any company founder who treats their ICO-raised token pool as an “investment fund” (into anything other than their own company’s success) is part of the rookie-hour masses who will soon see maybe slightly richer personal pockets, but a dead company on their hands. And the few case studies and examples proving the contrary are not to be modeled as that’s like raising $5M from investors and then, going to a casino wanting to triple it - a lottery mindset! Investors do not provide millions of dollars worth of ether to projects to benefit the pockets of the founders, but to finance the blockchain networks being developed by the projects so that they can solely focus on the development side of it, not investment. That said, the majority in the ICO/blockchain space are either engineers or get rich quick types while only a minority have experienced company development backgrounds. The market has fallen due to their uninformed, unfocused, greed driven selves - makes sense, right? The current scenario is th

a month ago

It’s time Bitcoin returns to its roots

The crypto-sphere underwent a sort of transformation in 2018... Consider it the awkward teenage years of the burgeoning space. Bitcoin stumbled, struggling to find its place in the world. And regulators, officials and traditional economists didn’t make it much easier. Now, going into 2019, the industry is caught between two warring worlds. That of Big Finance, and the decentralized dream of the cypherpunks of yesteryear. While some ‘old heads’ are still carrying on the idealistic spirit of the world’s first cryptocurrency, a wave of new blood that is less concerned about anonymity and security and more focused on taking control the transformative qualities of this ‘new money’ has entered the mix. So which will it be? The answer isn’t so easy. Can we have our cake and eat it too? The case for decentralization The crypto revolution was the catalyst which sparked the resurgence of an old idea. The idea of a decentralized world where we were all on an equal playing ground. It was an inclusive movement where, for the first time in a long time, the charge against the establishment was led by the people and for the people. The crypto movement wasn’t about occupying Wall Street, it was about ignoring it completely and carving out our own financial futures. And that idea translated well. Beyond big finance, the tech behind bitcoin sent ripples through every industry imaginable. From energy to retail, no stone has been left unturned. Because blockchain, right? And the hype is justified. It’s great technology, after all. Everything from how we vote in a democratic election to our own identification can benefit from this tech. It has it all - it’s a decentralized solution that offers transparency, accountability and real functionality. If you’re reading this, I’m sure you’re with me so far... So what’s the problem? Well, maybe we’re not as decentralized we hoped we’d be by now. The institutional conundrum One of 2018’s biggest buzzwords was ‘institutional adoption.’ The influx of institutional involvement was supposed to be the chocolate syrup on top of our sundae. We were supposed to leave $20,000 in the wind, hopefully saving John McAfee from, well, himself in the process. Institutions piled in, yeah. But it didn’t quite have the impact we expected. In fact, it was quite the opposite. Bitcoin lost almost 85 percent of its value. Other cryptos fared even worse. And while crypto enthusiasts and analysts alike scramble to find a clear cause for the decline, the answer might not be as black-and-white as many are making it out to be. There’s a whole array of factors at play. From regulation and market manipulation to sheer negative sentiment and a general loss of interest, every little piece of news fell on markets like a piano in an episode of Looney Toons. And worse still, they are taking the industry from us. Institutional trading volume is up while small trades and retail transactions have flatlined. Moreover, the dream of decentralization is slipping through our fingertips right before our very eyes. But not all is lost just yet... 2019 is the year we go back to the basics Seen as the long game in Bitcoin, decentralization is a force many in the space are truly fighting towards, and progress is being made. If you take the time to sift through the news of Big Banks entering the space and the price hype that led so many astray, there are actually a lot of really interesting projects being built. But the biggest problem is that no one is using them. Yet. When the crypto bubble burst, a lot of would-be participants abandoned ship, and we’ve got to get them back on board. I know it’s a sore subject for those who told their friends to buy in at bitcoin’s 2017 peak, but it’s time to rally the troops once again. And this time, it’s not about how much money you can make, but why we need to make the shift if the first place. The benefits of Bitcoin do not lie solely in its dollar value, after all. From Liquidity to RSK and the Lightning Network, developers are constantly adding new functionality to the world’s first blockchain, and it’s not likely to slow down any time soon. If 2017 was the year of the ICO, and 2018 was the year of institutional, 2019 will be the year we take it all back and return to our roots. 2019 will be the year Bitcoin truly finds its footing. “Decentralization has, not only an administrative value, but also a civic dimension, since it increases the opportunities for citizens to take interest in public affairs; it makes them get accustomed to using freedom. And from the accumulation of these local, active, persnickety freedoms, is born the most efficient counterweight against the claims of the central government, even if it were supported by an impersonal, collective will.” - Alexis de Tocqueville The post It’s time Bitcoin returns to its roots appeared first on Crypto Insider.

a month ago

Bitcoin Birthday Was Less Bubble, More Burst

Bitcoin has just commemorated the 10th anniversary of its genesis block, but the party was fairly quiet. While some traders hoped for (or feared) a sudden change, markets remained mild, and efforts to organize a run on the exchanges went largely unnoticed. For some smaller projects, the anniversary was a chance to give their own projects a bit of limelight. Several projects, notable Beam and Rootstock, made a point of launching on January 3rd, thereby making themselves part of the celebration. DX.Exchange, a new digital marketplace, used the occasion to announce the first digital stock tokens, to launch next week. Muttered Congratulations The anniversary prompted grudging recognition, even from media sources that have been traditionally critical of the world of digital assets. “Happy 10th birthday, bitcoin,” wrote The Guardian, followed by the most backhanded compliment of the year so far: “It’s amazing you still exist.” Even Bloomberg - no friend to crypto traders- preceded the anniversary with an unusually favorable outlook: “Crypto Technicals Flashing ‘Buy’ as Digital Diehards Begin Anew.” The Times 3/Jan/2019: Happy Birthday Bitcoin The most visible celebration was in The Times of London, where readers were greeted with a front-page ad, courtesy of the BitMex exchange. The Times was an appropriate choice for the ad, given the paper’s unique importance in the history of Bitcoin. A Times headline was incorporated into the Genesis Block, serving dual purpose as a timestamp and an indictment of the financial system. Since then, exchanges have taken the role of banks in the world of cryptocurrency, with many users relying on them for safe custody. Several leading exchanges have been accused of playing fractional reserve games with customers’ deposits; in some cases, like the MtGox insolvency, these suspicions have been confirmed. Proof of Keys These fears prompted the “Proof of Keys” movement, orchestrated by the self-described “Hodlers of Last Resort.” As Crypto Briefing previously reported, the goals were twofold—first, to execute a “stress test” on custodial services, and second, to call more attention to issues like wallet safety and secure storage. So far, it looks like Binance has passed the test. Changpeng Zhao, the CEO of the busiest crypto exchange, assured users in a tweet that their funds are safe thanks to a secure asset fund for users, or SAFU. It’s a fund that Binance set up in mid-2017 that earmarks a percentage of trader fees and directs them into a fund and stores the assets in a separate cold wallet. why am I reading this "productive" thread? and how did Binance gets dragged into this? Anyways, XRP (and all other) withdraws are working. Ironically, we had more deposits than withdraws today. Funds are #SAFU. — CZ Binance (@cz_binance) January 3, 2019 Not every exchange fared so well. While there’s no proof that the following incidents are a result of the Proof-of-Keys event, the timing is certainly a strong coincidence. The crypto community had a little too much fun with issues on the Bitfinex exchange. Bitfinex revealed that its platform was having “issues” but was quick to say that “funds are safe.” The announcement on Twitter was met with some creative replies, ranging from cat memes to a bit of panic. pic.twitter.com/oBi02TETXG — Crypto Charts (@crypt0charts) January 3, 2019 All fears were allayed when Bitfinex went back online after what turned out to be “an issue with the order gateways during an upgrade.” Another exchange whose performance was questioned on Proof-of-Keys day was Poloniex. One user complained of being forced to “jump through hoops” to make a transfer this week, leading to delays. Other failures, according to the architect of the movement Trace Mayer, include HitBTC for freezing accounts, Purse.io and Coinbase. Happy birthday #Bitcoin! 10 years & crazy magic Internet money experiment still going stronger than ever.#ProofOfKeys is slightly impacting the network. But fees have not gone crazy. No CTO heart attacks. No CFO suicides. World has not ended. Next year will be even bigger! 👍 pic.twitter.com/AkUsCV22al — Trace Mayer [Jan/3➞₿🔑∎] (@TraceMayer) January 3, 2019 Perhaps the exchanges that fared the best yesterday, in addition to Binance, were decentralized exchanges. That’s because DEXs are not custodians of crypto assets and therefore traders are in control of their own private keys and assets. Non-custodial crypto exchange IDEX cheered the Proof-of-Keys movement but also observed some of the risks, saying in a blog post: While we admittedly have some reservations given the possible technical difficulties of a mass coordinated transfer event like this, we very much support users taking the time on a regular basis to verify that they can withdraw their digital assets from centralized exchanges and take actual possession by controlling the private keys to those funds. Hold onto your hats, because proof-of-keys is now expected to be an annual

a month ago

Report Claims Blockchain in Publishing is Crypto Crash Proof

A new report investigating blockchain’s role in the publishing industry claims the technology will continue to be utilized regardless of the cryptocurrency market’s performance. The World Association of Newspapers and News Publishers, WAN-IFRA, in collaboration with the University of Arcada in Finland released the report today, in it detailing a number of benefits the publishing industry can enjoy by integrating blockchain technology. The authors of ‘Blockchain and the Future of News‘ note that similar research to their own is often reluctant to focus on, or mention by name, blockchain because of both its complexity which makes it seem inaccessible and its “bad image” from being linked to Bitcoin and cryptocurrencies. Despite the latter being arguably underserved, the paper reasons that “Bitcoin and some other cryptocurrencies are reminiscent of the Wild West, with overnight millionaires and burst bubbles galore”. In the publishing industry which looks to preserve trust above all, it is perhaps understandable to want to avoid association with this unstable image. But blockchain has matured beyond this conception, as the report goes on to acknowledge. Referencing Bitcoin’s poor market performance this year and analysts’ claims it will go on to lose further value, the report adds that “Blockchain’s usefulness for publishing will survive any such collapse”. Mentioning blockchain’s compatibility with securing intellectual property, enforcing licensing rights, and collecting micropayments from content viewers through a tokenized ecosystem, WAN-IFRA shares a view that the publishing industry can have as much to gain as its consumers, who benefit from increased trust in content and reduced advertising. Once content is published on the blockchain it cannot be modified or removed, acting as a way to circumvent government or corporate censorship and interference. Blockchain allows content providers to move away from the traditional advertising model through the token route of micropayments, increasing their trustworthiness by making them beholden to the average content consumer rather than advertisers. Readers or viewers also have the potential to earn credit by sharing constructive feedback, fact-checking, or viewing ad content. Civil is one such news organization that operates based on these benefits of blockchain, “prioritizing ethical journalism” above all else using the technology to create an enhanced model of transparency. WAN-IFRA offers a breakdown of the report on its website, while its members can access it in full for free and non-members are obliged to pay EUR 150. 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 Report Claims Blockchain in Publishing is Crypto Crash Proof appeared first on BitcoinNews.com.

2 months ago

The long-term Bitcoin price predictions Should keep the Hope Alive

Bitcoin has been underperforming since the last few months, and the entire cryptocurrency market is not doing any better which has brought discouragement to most enthusiasts who supported the breakthrough of the digital asset right from the onset. To the critics who devoted most of their time making a case that the crypto market ‘is a scam’, this moment seems to have vindicated them. The question about the possibility of bitcoin price bouncing back should be centered in the long-term performance. In my opinion, the long-term price prediction of bitcoin should keep the optimism alive. It was recently reported on how the price prediction of the Quinlan Associates is slowly coming to pass. The truth is that Bitcoin price is determined by some factors, and analysts can use economic approaches to project how the price may be in the short term and the long term. After the Quinlan Associates used their cost of production and store of a value approach to predict the minimum trading point of bitcoin, they assured that there is a course to celebrate for the long-term performance. This and many other experts’ long-term predictions should not be taken lightly, though they may have failed in few short-term attempts. It is worth noting that the temporal burst of the bitcoin bubble has nothing to do with its long-term value. When Dot Com crashed, it affected the price of Amazon, falling as low as $6 per share. Amazon, however, bounced back and took a high jump in price in the long term to trade at $1500. The likes of John Mcafee and Tom Lee have a positive expectation of bitcoin in the long run. Mcafee predicted that bitcoin would trade at $1 million by 2020. Whether Bitcoin can get to that point despite the few failed predictions, only time will tell. Kevin Murcko, the CEO of CoinMetro once said that “It’s important to remember that the crash we saw with Bitcoin this year doesn’t indicate lack of long-term value. The bubble may have burst in 2018, but there’s still enormous substance and potential in the crypto market at large.” Bitcoin is not expired and doesn’t seem to die anytime soon, and this is seen in the many hurdles it jumped on its way to $20,000. Bitcoin has a very bright future, and the speculation that is said to have favored bitcoin till today can spark another massive bull run earlier than expected. The post The long-term Bitcoin price predictions Should keep the Hope Alive appeared first on ZyCrypto.

2 months ago

Bitcoin History Part 5: A Wild Altcoin Appears

It’s hard to imagine a time before cryptocurrency exchanges were stocked with hundreds of digital assets. A time before the pejorative “shitcoin” had been coined and there was no such metric as bitcoin dominance. But travel back to late 2010 and that’s exactly what you’d have found: a cryptosphere in which BTC was the only coin in town. But all that was about to change. Also read: Bitcoin History Part 4: Casascius Creates Physical Bitcoins Namecoin Is First Out the Blocks The first altcoin to emerge following bitcoin wasn’t litecoin, peercoin or dash. Rather, it was a now obscure cryptocurrency called namecoin (NMC). It was unveiled on the Bitcointalk forum on April 18, 2011, with a mandate that read quite differently from that of BTC. Compared to the many identikit alts that sprung up in the months to follow, NMC began life with novel intentions. “Namecoin is a naming system based on bitcoin with a few modifications,” explained its [announce] thread, utilizing a formula that is today known as an [ANN]. “This is a new blockchain, separate from the main Bitcoin chain. Name/value pairs are stored in the blockchain attached to coin ... Names expire after 12000 blocks unless renewed with an update.” Curiously, but perhaps not surprisingly, the inspiration for Namecoin came from Satoshi himself, though he had no hand in its development. Four months earlier, Bitcoin’s creator had essentially conceived the idea of Namecoin, writing, in a thread titled “BitDNS and Generalizing Bitcoin,” “While you are generating bitcoins, why not also get free domain names for the same work? If you currently generate 50 BTC per week, now you could get 50 BTC and some domain names too.” Satoshi went on to explain a technical proposal involving merkle trees that would eventually form the basis for Namecoin. Moreover, Namecoin’s goal of serving as a decentralized domain registration system may have been partially inspired by Satoshi’s own experience of purchasing the bitcoin.org domain in 2008. With no anonymous cryptocurrency with which to pay, he was forced to use anonymouspeech.com, which enables services to be acquired using gift cards. In April 2013, namecoin was the fourth most popular cryptocurrency based on market cap. What’s in a Namecoin? Today, namecoin is effectively a dead coin, despite still being listed on Poloniex and Livecoin. In its seven-year history, NMC has had its moments of glory, like the time it pumped to $15.41 per coin or 0.014 BTC in Nov. 2013. Or the time it hit $8.64 in January of this year, one final burst of nostalgia at a time when every shitcoin under the sun was pumping. By then, namecoin was already a dead coin, with its bitcoin value reaching just 0.0006 BTC per coin. Today, its 24-hour trade volume stands at $15,000 and Namecoin’s DNS naming system is dead in the water. That’s not to say NMC has been an outright failure, however. With over 2,000 cryptocurrencies now vying for supremacy, Namecoin can be credited with either starting the stampede or instigating the rot. Whatever one’s assessment of Namecoin and the plethora of altcoins that followed, NMC was pivotal in demonstrating that there is space in the cryptosphere for more than just one digital asset. Today there are multiple bitcoins and a panoply of shitcoins, but at a 97 percent reduction from its all-time high, Namecoin embodies the fate of all altcoins to date. As the history books show, Bitcoin is easily emulated but never bettered. Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the world’s first and finest cryptocurrency. Read part four here. Images courtesy of Shutterstock and Coinmarketcap. Need to calculate your bitcoin holdings? Check our tools section. The post Bitcoin History Part 5: A Wild Altcoin Appears appeared first on Bitcoin News.

2 months ago

Cypherpunk Godfather Timothy May Was Lightyears Ahead of His Time

The crypto world has been mourning the passing of Timothy C. May at the age of 67. While an unknown entity to the general public, to early internet adopters, cypherpunks, libertarians, and cryptography evangelists, May’s writings remain hallowed. The intellectual was an early advocate against state surveillance, defender from privacy erosions, and bête noire of the tech dystopia that has surreptitiously smothered modern society. His legacy lives on through his powerful writings that are as potent today as when they first appeared in the late 80s. Also read: How Crypto Miners Are Adapting to Survive the Bear Market Timothy May: Taken Too Early and Ahead of His Time “Interactions over networks will be untraceable, via extensive re-routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering,” predicted Timothy May in 1988 with uncanny prescience. “Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.” The cryptography community has often bemoaned the cryptocurrency community’s commandeering of the phrase “crypto”. In the case of Timothy May, however, both groups can lay claim to the cypherpunk godfather’s legacy. May was crypto in every sense of the word, shaping the nascent cypherpunk movement, which pioneered cryptographic protocols, while paving the way for the cryptocurrency revolution that would burst into life more than two decades after he published his seminal Crypto Anarchist Manifesto. A Free Bird Who Refused to Be Pigeon-Holed May (left) gracing the cover on a 1993 Wired magazine Timothy C. May, or simply Tim to his friends, was a visionary, a maverick and a free-thinker. The phrase “ahead of his time” has long since been reduced to the realm of cliché, but if ever there was a man to whom the the term belonged, it was May. While it’s easy to compose hagiographies of the recently deceased, it’s hard to look at May’s most famous writings and not feel a sense of awe. Had they been composed in 2018 they would have warranted all the RTs, regrams, shares and faves they would have doubtless received. Tim May was my chief cypherpunk inspiration. His vision is of a cyberspace free from government oppression. I was further blessed to be able to hang out with him and kvetch about our crazy world. Will miss you greatly Tim! https://t.co/cLx5dpiUEF — Nick Szabo [Jan/3] (@NickSzabo4) December 15, 2018 Many of the crypto OGs tweeting out tributes to Timothy May this week weren’t even born when his magnum opus was composed, or even when it was later subsumed into The Cyphernomicon. But for those who previously took the time to read May’s words, their resonance and relevance will have been felt as strongly today as they did upon first perusal. In 1994, most people had yet to even envisage using the internet, let alone conceive the need for electronic privacy and anonymous digital currency. May wasn’t so much ahead of the curve as on another racetrack altogether. “The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration,” predicted May with unfailing accuracy. “Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion ... But this will not halt the spread of crypto anarchy.” He further foretold: Just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property. It wasn’t just what May envisioned that captivated his modest but passionate audience - it was the way he told it. Two decades after Timothy C. May shared his anarchist’s rallying cry to a cryptographic mailing list, a certain S. Nakamoto followed suit. The latter’s decision to share his own manifesto with the world via the same obscure route is no coincidence. What the cypherpunks, led by Timothy May, started, Satoshi propelled to its logical conclusion, sowing the seeds for the anonymous digital currency his forebear had prophesied. Timothy C. May was a co-founder of the Cypherpunks and an influential crypto-anarchist, whose writings helped shape the vision of the "Libertarian in Cyberspace" being built upon every day. Rest in Peace. SNI proudly ho

2 months ago

Is Bitcoin dying? Not so fast, Researchers refute predictions of Crypto Market Demise

Each time the cryptocurrency market crashes, social media is filled with predictions of BTC slipping to zero and plenty of people saying “I told you so.” 2018’s bear market has caused many to flee from the cryptocurrency space and emboldened people like economist Nouriel Roubini who has been a harsh critic of Bitcoin and altcoins for years. He’s called Bitcoin the mother of all scams, has referred to the cryptocurrency market as a “sinking cesspool” and just last week he tweeted that The sector is on its last legs. “If it all sounds funereal it is because Bitcoin and all other crypto-currencies are on the way a funeral march!” Even some known Bitcoin and cryptocurrency advocates have recently made some remarks that could be taken in a negative light. In the last few weeks, Bitcoin bull and billionaire investor Mike Novogratz said that the ICO market was dead and the young crypto millionaire Erik Finman said the digital asset was in trouble. Despite all the doom and gloom that has resulted from this extended bear market, researchers from the University of Cambridge who took part in the second Global Cryptoasset Benchmarking Study have some positive news regarding the future price of Bitcoin and the overall health of the cryptocurrency market. They think that cryptocurrency is here to stay and that there are too many planned developments for the market to fall apart now. “Statements proclaiming the death of the crypto-asset industry have been made after every global ecosystem bubble,” the researchers stated. “While it is true that the 2017 bubble was the largest in bitcoin’s history, the market capitalization of both bitcoin and the crypto-asset ecosystem still exceeds its January 2017 levels-prior to the start of the bubble.” The study found that the burst bubble might have caused a delay in the development of many projects, but the industry has pushed forward and many projects may make breakthroughs sooner rather than later. “The speculation of the death of the market and ecosystem has been greatly exaggerated, and so it seems likely that the future expansion plans of industry participants will, at most, be delayed.” As the community awaits institutional powerhouses like Goldman Sachs to enter the scene and projects like Bakkt to cause a flood of billions to rush into the crypto space, many teams continue to work on the useful applications that will actually usher in adoption and bring cryptocurrency to the masses. The post Is Bitcoin dying? Not so fast, Researchers refute predictions of Crypto Market Demise appeared first on ZyCrypto.

2 months ago

When will the crypto bear market end?

Over the past several months there has been no shortage of timeline speculation regarding the current cryptocurrency bear market. Venture capitalist Albert Wenger recently wrote a few interesting thoughts on the situation. Stuck in a bear market trend Bitcoin sits at a price of $3,450 according to Blockmodo data at the time of writing. Crypto’s largest asset has struggled to break out of its bearish trend for most of 2018, with no definitive end in sight. Negativity for bitcoin is logical as the coin is down over 80% from all-time highs last year. Forbes interviewed ShapeShift CEO Erik Voorhees a few months ago, in which he commented on 2018’s crypto bear market. “In terms of price I think we’ve neared our low, however we could very well stay here for a while before a bull market returns. That being said, crypto is crypto. This bear market could last for several years, or we could see it end in a month or two. Neither would surprise me.” Interesting perspective Many crypto participants and speculators cannot help but compare the current bear market to the last one seen between 2013 and 2015. Longest $crypto bear market was 58 weeks long (i.e. 2013/2014).$BTC retraced 86% then. This current crypto bear market has just started its 49th week. BTC has retraced 82% thus far. — rektcapital (@rektcapital) November 26, 2018 However, the situation may be more complex now. Albert Wenger is a venture capitalist and partner at Union Square Ventures. Last Wednesday he posted an article talking about public risk perception. In the article, Wenger mentioned the correlation between returns and uncertainty. Where large institutional investments are concerned, the aspect of perception plays an important role. “[I]t is one thing to lose money on a trade, it is another to lose money on a trade that people have tried many times before and is now widely ‘known’ to be a money-losing trade,” Wenger explained. In general, potential investors must weigh general risk on their investment. But in a major bear market situation like crypto, they must also weigh the added risk of market perception. Current perceptions for cryptocurrency markets include negativity and money loss. Wenger mentioned, “[i]f the others [public perceptions] are right, then not only will returns be below the benchmarks but there is also the question: why did you think you were smarter than everyone else?” Wenger explained a similar situation in the early 2000s after the infamous dot-com bubble burst. He recounted the struggles one of his funds saw trying to raise money in 2001. Big players did not want to invest in something thought to be a trivial dead end. He went on to discuss crypto application for these points, and a repetition of history. This cryptocurrency market crash is different than all previous ones. This time around, things are the same in terms of pure investment risk numbers, but different from the aspect of perception. The last bull run gained more publicity than the crypto space had ever seen before. Institutions and big players got in on the action, while mainstream media covered the space frequently. Wenger noted these differences as important to how the current bear market will play out. “So to think that institutional investors will [be] piling in right now is to ignore perception risk. To invest now means taking both return risk and perception risk. That’s why climbing out of the winter of the burst Dotcom bubble took time and that’s why the same is likely to be true for crypto.” More money in the game The 2013 cryptocurrency bull market turned bearish after achieving a total market cap high of about $15.7 billion, according to Coinmarketcap.com data. The most recent bull market saw a high of just over $800 billion in market cap. Climbing out of the 2013-15 bear market took much less capital. The total market was a fraction of even the current market cap size. Investors could move that market’s direction with far less money than would be required now. To substantially move the current crypto market would take significant amounts of money. Institutional players have that kind of money. But as Wenger explained, those players may be hesitant to enter the market for a while going forward. *CryptoInsider is sponsored by Blockmodo. As part of our arrangement, we may occasionally link to them and quote them when appropriate. This is done at the discretion of CI staff and CI sponsors have no say in any editorial decisions made by CI. The post When will the crypto bear market end? appeared first on Crypto Insider.

2 months ago

Bitcoin’s Price Fell, But Interest Remained High in 2018

Bitcoin sure peaked everyone’s interest in 2018. While it’s price may have been something of a letdown, the asset itself continued to intrigue members of the public well into the year. Internet Bitcoin Searches Were High Bitcoin has proven to be something of an enigma over the past 12 months. While the currency ultimately reached its peak of nearly $20,000 last December, it has since entered a phase of consistent drops that has caused it to lose over 80 percent of its value. At press time, it is trading for just over $3,300, leading many crypto enthusiasts - particularly long-term investors and hodlers - to sulk and stew in their rooms. But even though the price drops never let up, bitcoin appeared to retain its following. A new Bloomberg report suggests that among the top Google searches for the year were “What is Bitcoin?” and “How to Buy Ripple.” Bitcoin and cryptocurrencies continued to garner their time in the spotlight despite the price catastrophes occurring at every corner. A Double Standard These questions and others like them were amongst the top-searched items in both the United States and the United Kingdom, according to Google Trends. The latter was the fourth-ranking “how to” question making Google’s list. While this may seem positive on paper, there are two sides to the equation one must consider. On one hand, the evidence suggests that cryptocurrencies have not lost their popularity. Despite the everlasting price falls, many members of the public remained adamant that bitcoin and its altcoin cousins remained valid investment tools that could boost their net worth and diversify their portfolios. A Darker Side of the Plane On the other hand, several analysts claim that one of the main reasons behind the present wintery conditions and the massive drop in bitcoin’s price is a lack of investor knowledge and education. It is said by many industry experts that bitcoin became as big as it did because people simply entered the market without considering the risks that came with it. This caused the space to burst and come crashing down. The fact that so many people were asking these kinds of questions well into 2018 - when bitcoin was already showing signs of struggling - suggests that education was still on the shallow end of the pool, and that cryptocurrencies were not mainstream enough to garner enough attention from the public prior to their devastating price falls. Time to Read Up, People! If bitcoin and other digital assets are to garner the attention and respect they deserve, investors must be willing to spend time learning about the potential issues and problems that face them. Throwing oneself in head first is only likely to result in injury; testing out the water and checking for depth allows one to formulate a plan. Do you agree that education is necessary to invest in crypto? Post your comments below. Image courtesy of Shuttershock The post Bitcoin’s Price Fell, But Interest Remained High in 2018 appeared first on Live Bitcoin News.

2 months ago

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

2 months 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

2 months 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.

2 months 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.

2 months 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.

2 months 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)

3 months 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.

3 months 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.

3 months 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.

3 months 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.

3 months 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.

3 months 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

3 months 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.

3 months 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.

3 months 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)

3 months 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

3 months 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)

3 months 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

3 months 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.

3 months 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.

3 months 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.

3 months 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™.

3 months 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.

3 months 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.

3 months 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.

3 months 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

3 months 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.

4 months ago


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