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$0.0003
Market Cap $ 2.233 MM (#543)
24h Volume $ 4.357 K
Chg. 24h: -6.20%
Algo. score 3.0/5  (#534)
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Civic Coin Review: Introduction to CVC

What Is Civic? Civic is a project built on the Ethereum Blockchain which specializes on identity management, providing users real-time protection and authorizing on how their identity is used online. Civic intends on implementing its Identity Verification Services (IDV) using blockchain, so that background and personal information verifications will not be required each time a […]

16 hours ago

WordPress.com Creators Partner with Google and Civic Media to Develop Publishing Platform for Digital News Startups

Automattic Inc, the parent company of Wordpress.com, and its partners Spirited Media and News Revenue Hub recently announced a new partnership with multiple parties including Google, the Google News Initiative, and Civic Media (which is backed by ConsenSys) with the goal of developing a new open-source publishing platform designed specifically for digital news startups. The parties involved will be investing a total of $2.4 million in the Newspack platform which seeks to incorporate the best editorial and business practices from the industry. (JF)

2 days ago

The 2nd CVT Token Hunt is on hit! This time we are in China!...

The 2nd CVT Token Hunt is on hit! This time we are in China! For more details, please scan the QR Code for WeChat o… https://t.co/N9yejIRoTf

3 days ago

Bitcoin Approaching a 'Breakout or a Breakdown,' Says Civic CEO Vinny Lingham

Vinny Lingham, Civic CEO and former Shark Tank investor, has given a recent interview where he discusses the price of Bitcoin. The video interview was published yesterday by Cheddar.com. Lingham started the interview by stating that there is a good chance that Bitcoin will retest $3,000 as a bottom, and if it hits that low we will probably see a breakthrough. He thinks the market is searching...

6 days ago

Vinny Langham says the Crypto Market Won't Recover Anytime Soon

Multicoin Capital partner and Civic CEO Vinny Lingham recently said that “The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory.” Lingham urges investors to not “underestimate the power of psychology in free markets” and the absence of rapacious demand like the type seen throughout 2017 is manifest in the form of consistently low volume in the crypto market. Throughout 2017 teenagers, millennials, and even adults near retirement heavily invested in cryptocurrencies and the following year-long bear market has wiped many of these investors out and left them with debt. As Lingham suggests, it will take some time for retail traders to psychologically recover from this trauma. Data shows that it takes roughly 62 weeks for the crypto market to recover from major corrections and as this date draws near, all investors will have their attention fixed on Bitcoin’s performance. (RS)

6 days ago

CivicKey CEO on Bitcoin Price: “Good Chance We’re Going to Retest $3,000”

The co-founder of blockchain-based identity management platform CivicKey has weighed in about the current state of the cryptocurrency markets. Amongst other things, Vinny Lingham stated that he feels the Bitcoin price will retest the $3,000 level in the near future. The South American internet entrepreneur also explained how his own startup had managed to weather the dramatic plunge in cryptocurrency prices better than many of its peers. Moving to Cash Helped Civic Stay Afloat Despite Falling Bitcoin Price In an interview with financial news streaming network Cheddar, Vinny Lingham has spoken about his short-term outlook for the Bitcoin price. The CEO and co-founder of the blockchain identity protection firm CivicKey told presenters that a $3,000 was to be expected in the coming weeks. He went on to state that this level was also likely to break to the downside: “I think there is a good chance we’re going to retest $3,000 as a low. There is a good chance we’ll probably break through that if it heads that low.” Lingham went on to state that months of sideways trading was also more likely than the parabolic move upwards that almost everyone involved in cryptocurrency is hoping for. The CEO claimed that a price range of between $3,000 and $5,000 seemed realistic before either a “breakout or a breakdown”. In response to Lingham’s point about a resumption of sideways trading, one of the reporters drew attention to the last time the Bitcoin price remained relatively stable for months at one price point. The journalist reminded Lingham that the price broke to the downside, resulting in the $3,000 to $4,500 trading range we seem to be currently stuck in. He then posited the question if such sideways trading would be good or bad for the market. Lingham replied: “Bitcoin particularly has this history of bubbles and busts. When there is upward momentum, the going gets good, everyone gets on board, and it rises to the next level. Sideways trade doesn’t really help us because at this point in time we have more sellers than buyers - people trying to get out from ICOs etc. and that’s a problem. There’s no real momentum into the crypto market right now.” The conversation then shifted to how the current bear market had impacted Lingham’s own project, CivicKey. The entrepreneur stated that he felt that many other firms in the space had been left much worse off following the rapid decline of prices to their current levels. Thanks to its policy of cashing out most of the crypto raised by ICO in 2017, CivicKey was able to stay afloat much more easily than firms like Steemit, who have been forced to layoff large percentages of their workforce. The CEO was careful to state that just keeping money in cash rather than cryptocurrency would not guarantee Civic’s survival. He went on to say that it was important for his company and all the others involved in the space to watch their expenses and manage their treasuries effectively. Finally, he hinted that more companies may be forced to make layoffs or streamline their operation in some way: “I think more companies in the space have to tighten their belts and make sure that they have enough run way to get their product to market.” Related Reading: Cryptocurrency Bear Market Pressures Shapeshift into Layoffs Featured Image from Shutterstock. The post CivicKey CEO on Bitcoin Price: “Good Chance We’re Going to Retest $3,000” appeared first on NewsBTC.

6 days 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.

10 days ago

Civic’s token illustrates why companies masquerading as tokens will fail

Civic, the identity system founded by self-proclaimed “Bitcoin Oracle” Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches presented. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN”, without any explicit goals to incorporate a token or blockchain at the time. The company raised ~$33m in funds through an ICO that looked like the world’s most bizarre nightclub line: in it, tens of thousands of participants were placed in a queue and randomly allowed access to purchase CVC tokens priced at $0.10 each, regardless of when they joined. Of the one billion tokens, 33% were sold in the ICO, with another 33% retained by the Civic team, 33% to incentivize the community, with 1% left over for running the sale. I imagine that the conversation between Vinny and his engineering team went something like this: Vinny: Team, we need to put this on The Blockchain. Team: Err, come again? We can just store this stuff locally or some distributed system that doesn’t need a chain of blocks. Vinny: Sounds good, let’s use Blockchain and raise an ICO. Team: Wait, what? The token question was always a bit of a mess. The Bitcoin Oracle stated over and over again in 2017 that the CVC token, initially issued on Ethereum, was a temporary decision until the launch of Rootstock, a smart contract platform implemented as a Bitcoin sidechain. The question of why Civic, a centralized company that had an existing mobile identity product, needs a token is an excellent question and answered at first in an 18-page whitepaper, which spends more time explaining 50,000 views of the digital identity industry and how blockchains work than covering the specific utility of the CVC token. Diagram from the original Civic white paper explaining how the system works In this case, as seen in the diagram, the original CVC token vision was to create utility through its use as an “ecosystem token.” In the Civic ecosystem, the places where circles are examples of places where the CVC token is “used as a form of settlement between participants to an identity-related transaction within the Ecosystem.” If you’re not trying to deceive unsophisticated retail investors, another way to think about it is just that the token is used for payment. Even if their platform is useful, the question every ICO team should be asking is still outstanding: why use a proprietary token for payment when a fiat-backed token (more stable), bitcoins (decentralized money token), or just dollars (simple) suffice? The white paper presented 4 extremely compelling reasons: It can be used across any number of jurisdictions, retaining a single uniform method of settlement. nods head, thinking “Bitcoin can do the same thing.” Using a blockchain-based token makes it possible to perform settlements automatically and irrefutably within a smart contract nods head, thinking “Bitcoin, Ethereum, and a number of other existing public blockchains allow for this too.” Having a unique, specialized token for accessing identity services provides stability and shields the Ecosystem from extraneous considerations that can make other cryptocurrencies volatile Oh man, this is just great. Forgetting that all unpegged cryptocurrencies are money (some more liquid than others, like gift cards), it’s unclear why this is even intuitive (or went unquestioned by so many). Fortunately, we can see empirical confirmation that Civic’s team aren’t token engineering alchemists who’ve figured out the holy grail of price stability: Civic is down 96% from its all-time high, now trading at half its’ ICO price. Chart courtesy of OnChainFX It makes it possible to manage incentives in a way that drives Ecosystem effects for the benefit of all participants in the Ecosystem This is the most substantive bullet. Civic, like many others, believes that the token allows them to “manage incentives” to solve the bootstrapping problem early-stage startups often face. However, in practice, “managing incentives” looks a lot more like “give away tokens to try to bribe people into building stuff with our technology.” Let’s call this the Token Engineering Reality Distortion Field (or TERDF for short). Another generous reading of why Civic kept so many of the generated tokens is that they can use the value of those tokens to subsidize the cost of KYC verification, which then makes the service more appealing to prospective partners (given the increased number of users on the platform). For those who think I’m kidding, in a September interview, Vinny implied that why the giveaway-based growth model that nearly bankrupted PayPal could work: Paypal got it right with the whole $10 free if you invite a friend and it nearly bankrupted the company. They managed to crack the chicken and egg problem doing it that way. In an earlier blog post titled “Why Tokens are Eating the World” (a play on Mar

a month ago

Civic’s token illustrates why companies masquerading tokens will fail

Civic, the identity system founded by self-proclaimed “Bitcoin Oracle” Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches presented. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN”, without any explicit goals to incorporate a token or blockchain at the time. The company raised ~$33m in funds through an ICO that looked like the world’s most bizarre nightclub line: in it, tens of thousands of participants were placed in a queue and randomly allowed access to purchase CVC tokens priced at $0.10 each, regardless of when they joined. Of the one billion tokens, 33% were sold in the ICO, with another 33% retained by the Civic team, 33% to incentivize the community, with 1% left over for running the sale. I imagine that the conversation between Vinny and his engineering team went something like this: Vinny: Team, we need to put this on The Blockchain. Team: Err, come again? We can just store this stuff locally or some distributed system that doesn’t need a chain of blocks. Vinny: Sounds good, let’s use Blockchain and raise an ICO. Team: Wait, what? The token question was always a bit of a mess. The Bitcoin Oracle stated over and over again in 2017 that the CVC token, initially issued on Ethereum, was a temporary decision until the launch of Rootstock, a smart contract platform implemented as a Bitcoin sidechain. The question of why Civic, a centralized company that had an existing mobile identity product, needs a token is an excellent question and answered at first in an 18-page whitepaper, which spends more time explaining 50,000 views of the digital identity industry and how blockchains work than covering the specific utility of the CVC token. Diagram from the original Civic white paper explaining how the system works In this case, as seen in the diagram, the original CVC token vision was to create utility through its use as an “ecosystem token.” In the Civic ecosystem, the places where circles are examples of places where the CVC token is “used as a form of settlement between participants to an identity-related transaction within the Ecosystem.” If you’re not trying to deceive unsophisticated retail investors, another way to think about it is just that the token is used for payment. Even if their platform is useful, the question every ICO team should be asking is still outstanding: why use a proprietary token for payment when a fiat-backed token (more stable), bitcoins (decentralized money token), or just dollars (simple) suffice? The white paper presented 4 extremely compelling reasons: It can be used across any number of jurisdictions, retaining a single uniform method of settlement. nods head, thinking “Bitcoin can do the same thing.” Using a blockchain-based token makes it possible to perform settlements automatically and irrefutably within a smart contract nods head, thinking “Bitcoin, Ethereum, and a number of other existing public blockchains allow for this too.” Having a unique, specialized token for accessing identity services provides stability and shields the Ecosystem from extraneous considerations that can make other cryptocurrencies volatile Oh man, this is just great. Forgetting that all unpegged cryptocurrencies are money (some more liquid than others, like gift cards), it’s unclear why this is even intuitive (or went unquestioned by so many). Fortunately, we can see empirical confirmation that Civic’s team aren’t token engineering alchemists who’ve figured out the holy grail of price stability: Civic is down 96% from its all-time high, now trading at half its’ ICO price. Chart courtesy of OnChainFX It makes it possible to manage incentives in a way that drives Ecosystem effects for the benefit of all participants in the Ecosystem This is the most substantive bullet. Civic, like many others, believes that the token allows them to “manage incentives” to solve the bootstrapping problem early-stage startups often face. However, in practice, “managing incentives” looks a lot more like “give away tokens to try to bribe people into building stuff with our technology.” Let’s call this the Token Engineering Reality Distortion Field (or TERDF for short). Another generous reading of why Civic kept so many of the generated tokens is that they can use the value of those tokens to subsidize the cost of KYC verification, which then makes the service more appealing to prospective partners (given the increased number of users on the platform). For those who think I’m kidding, in a September interview, Vinny implied that why the giveaway-based growth model that nearly bankrupted PayPal could work: Paypal got it right with the whole $10 free if you invite a friend and it nearly bankrupted the company. They managed to crack the chicken and egg problem doing it that way. In an earlier blog post titled “Why Tokens are Eating the World” (a play on Mar

a month ago

SyncFab manufacturing Blockchain [R] integrates MFG Digital Token Wallet for manufacturing RFQs and purchase orders

SyncFab, the industry first manufacturing blockchain ® for Industrial OEM supply chain procurement management, successfully integrated a dedicated fully functional Digital Wallet for the MFG Token with its procurement platform for use with manufacturing service RFQs and purchase orders. Following this recent milestone, SyncFab continues the Supply Chain 4.0 revolution integrating more manufacturing partners on the digital supply chain procurement platform. With great anticipation for what 2019 has in store for Supply Chain Digitisation, SyncFab has been working tirelessly throughout the fall 2018 season improving its existing web 2.0 procurement platform while adding blockchain functionality as a precursor to its 3.0 Testnet launch in winter 2019. In its latest development update, SyncFab shared its latest milestone completing the official MFG digital token wallet launch and platform integration for use with manufacturing service RFQs and purchase orders, for which they have begun a test trial with select users. It is expected that more users will receive the update in the weeks ahead. The Official MFG wallet will ultimately replace the Ambisafe MFG wallet that was first used, so existing wallet users are asked to follow upcoming timing notifications when to transfer existing MFG balances to the newly released official MFG wallet on the SyncFab platform or to another compatible digital wallet of the users choosing before the Ambisafe wallet is fully phased out. The latest information can be found on the official website. Ongoing testing of the official MFG wallet includes MFG purchases for manufacturing services to be incorporated in the RFQ submission process along with use of MFG tokens to incentivize manufacturers to join SyncFab and submit quotes. MFG rewards will be distributed primarily to losing bidders as an offset when they do not win an order in recognition of the effort required for making their bid for the RFQ. As this new incentive model is refined through testing, SyncFab will solidify its foundation to support a robust decentralized network that improves the manufacturing supply chain process for all of its participants in the years ahead. About SyncFab Founded and headquartered near Silicon Valley, SyncFab is a manufacturing blockchain ® platform that streamlines the way industrial OEM supply chain buyers procure, manage, and track precision parts production securely using blockchain technology. Through partnerships with federal government and municipal smart city initiatives, SyncFab helps spur economic development by making regional suppliers with idle manufacturing capacity more accessible and responsive to buyers to enable a shift towards cleaner, local manufacturing supply chain worldwide. SyncFab is founding member of CESMII, the U.S. Department of Energy’s Clean Energy Smart Manufacturing Innovation Network appointed by the White House. SyncFab municipal partners include the San Francisco bay area city of San Leandro as part of the San Francisco Civic Innovation program, which includes Oakland, San Jose, Sacramento and other cities. To know more: Website Blog Telegram Twitter The post SyncFab manufacturing Blockchain [R] integrates MFG Digital Token Wallet for manufacturing RFQs and purchase orders appeared first on AMBCrypto.

a month ago

Coinbase Announces Rollout in Six New European Markets

CoinSpeaker Coinbase Announces Rollout in Six New European Markets Zeeshan Feroz, Coinbase’s U.K. CEO, said the firm looks for markets that are “close to or within jurisdictions that we operate in today” when it decides on new expansions. The company recently opened a new office in Dublin, as part of a contingency plan to continue to have access to the bloc post-Brexit. Some of the markets Coinbase is expanding into are becoming increasingly popular destinations for cryptocurrency and blockchain-related start-ups. The company was able to participate in a total of 33 countries and help people to buy and sell crypto assets in these countries. Now, Coinbase has added six European markets in the following regions: Andorra, Gibraltar, Iceland, Lithuania, Isle of Man and Guernsey. Today, we’re taking another stride toward realizing our mission of creating an open financial system for the world by announcing the rollout of Coinbase to 6 additional markets around the world. Learn more here: https://t.co/A07HxXmqn1 It's Day 11 of 12 Days of Coinbase. pic.twitter.com/n235o22uyn — Coinbase (@coinbase) December 20, 2018 Gibraltar is, for example pretty interesting because it has a domestic licensing process for such firms to become registered blockchain technology providers. Iceland, however, has become a popular hub for so-called cryptocurrency mining due to an abundance of renewable energy. Feroz said: “I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the market.” Bitcoin has fallen nearly 80 percent since its record high in December last year. The world’s most valuable virtual currency was trading above $4,000 on Thursday for the first time in two weeks. Feroz added: “I think if you look at last year, a lot of the focus was on people who bought crypto from an investment point of view and a lot of projects raised a ludicrous amount of money as a result of that.” In Coinbase they confirmed that the new customers in these markets will be able to make full use of Coinbase.com and their iOS and Android apps, allowing them to buy and sell cryptocurrencies on the Coinbase platform for the very first time. They said they are hoping to make Coinbase Pro and Prime available in these regions over time. Coinbase Believe That Crypto is “Without Borders” Just this week, Coinbase was able to put new assets on the exchange. These were mostly ERC20 Ethereum-based tokens and they were not added to all the jurisdictions of the company until now. These new assets include Golem (GNT), Maker (MKR), DAI and Zilliqa (ZIL). Before that, they launched 0x (ZRX), Basic Attention Token (BAT), and their stablecoin, USD Coin (USDC) across all Coinbase platforms, they also added Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) to Coinbase Pro. The exchange then said: “Our decision to add ERC20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint.” They also announced that next year they will continue expanding rapidly into new regions and adding assets to the Coinbase platform to meet customer demand. Two weeks ago they said they are continuing to explore the addition of new assets. This work also includes close cooperation with regulators and banks in order to make these new cryptocurrencies available for Coinbase customers in as many jurisdictions as possible. The company has also published the list of 31 potential new additions which includes among others the above-mentioned XRP, EOS, Cardano (ADA), NEO and Tezos (XTZ). Nevertheless, the company warns that there is no any guarantee that all the cryptocurrencies included into this list will be added to the platform. Such a situation is explained by the fact that some restrictions could be imposed on concrete coins or they could be not listed due to the results of their evaluation. Some cryptocurrencies may become available only in particular jurisdictions. Coinbase Announces Rollout in Six New European Markets

a month ago

Despite Bear Crypto Markets, SyncFab Development Continues

Last week, the first manufacturing blockchain for industrial OEM SyncFab rolled out the official wallet for its MFG token. The MFG digital wallet is equipped with features that bring SyncFab closer to actualizing its goal of making manufacturing supply chains more efficient and transparent. SyncFab is a decentralized, blockchain-based platform that connects factories directly to machine parts manufacturers. Manufacturers that use SyncFab will eventually no longer have to rely as much on procurement managers, parts brokers and other intermediaries to manage their supply chains. Instead of paying “finder’s fees” to middlemen, manufacturers can place and track orders through SyncFab. “SyncFab’s integration using blockchain technology makes us an industry first in our space for a public facing platform whereby we recognize the opportunity of being first to pioneer standards for those who would later like the convenience to adopt an existing solution,” said SyncFab Founding CEO Jeremy Goodwin. SyncFab’s newly released MFG wallet is equipped with two new features that take SyncFab one step closer to changing the way that manufacturers interact with their parts suppliers. SyncFab is currently testing both of these features with a select group of customers. Once testing is complete, they will be rolled out to all MFG token wallet users. SyncFab uses MFG token rewards as an incentive for suppliers to participate in the SyncFab network. They can earn MFG by submitting price quotes. The faster a quote is provided, the more MFG they can get. In most cases, whichever bidder gets selected, receives 10% of the total MFG reward. Losing bidders get an 80% share and the remaining 10% goes to the MFG loyalty program. Previously, MFG could only be purchased on cryptocurrency exchanges. Now, MFG can be obtained directly in the MFG wallet. Payment options include debit cards, credit cards and bank transfers. In September of last year, SyncFab partnered with the government of the city of San Leandro, which is located across the bay from San Francisco. The city is helping to onboard its local manufacturers and parts suppliers. Other potential SyncFab partners include giants like Boeing, the world’s largest aerospace company. At last month’s IoT Tech Expo, SyncFab CEO Jeremy Goodwin spoke at a panel discussion to explain to Boeing’s Technical Fellow Dr. Al Salour and others how industrial IoT-enabled smart manufacturing can help manufacturers enhance productivity, improve ROI and aid in process automation. SyncFab’s continued success and growth in the current bear market shows that the company has what many other blockchain projects lack: a clear use case. With the latest developments, SyncFab is solving practical problems to demonstrate that blockchain is more than just a passing fad. About SyncFab Founded and headquartered near Silicon Valley, SyncFab is a manufacturing blockchain® platform that streamlines the way industrial OEM supply chain buyers procure, manage, and track precision parts production securely using blockchain technology. Through partnerships with federal government and municipal smart city initiatives, SyncFab helps spur economic development by making regional suppliers with idle manufacturing capacity more accessible and responsive to buyers to enable a shift towards cleaner, local manufacturing supply chains worldwide. SyncFab is founding member of CESMII, The U.S. Department of Energy’s Clean Energy Smart Manufacturing Innovation Network appointed by the White House. SyncFab municipal partners include the San Francisco bay area city of San Leandro as part of the San Francisco Civic Innovation program, which includes Oakland, San Jose, Sacramento and other cities. 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 in the press release. EWN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. The post Despite Bear Crypto Markets, SyncFab Development Continues appeared first on Ethereum World News.

a month ago

XRP pairs with Stellar [XLM], DigiByte [DGB], USD Coin [USDC] on Coinfield

On 18th December, the popular cryptocurrency exchange, Coinfield that is based out of Canada announced that it will be pairing XRP with the fifth largest coin, Stellar [XLM], the stable coin USD Coin [USDC] and Digibyte [DGB]. The platform also announced that it will be expanding its services to 40 new countries. The original tweet read: “New #XRP pairings with Stellar #XLM, DigiByte #DGB and #USDC stablecoin shine as CoinField expands to 40 new countries.” In the month of November, Coinfield had informed its followers that the services of the platform had gone live in 60+ countries at the time. In the same announcement, it had also taken the decision to add XRP for trading on its platform to wherein the commission fee was set at 0.05% and 20 XRP pairs were added including fiat pairs of XRP with USD, CAD, EUR, GBP, JPY, and AED. Now, apart from XLM, DGB and USDC, two other unpopular coins have been added to increase the number of XRP pairs, i.e., Civic [CVC] and Loom Network [LOOM]. XRP has been a pro when it comes to gaining worldwide adoption as its parent blockchain firm, Ripple is inherently a global business. Therefore, XRP has been able to make its way around the globe at a fast pace via the RippleNet. Though successful, XRP has been an integral part of many controversies, from it being alleged security to the ecosystem being highly centralized. Anytime the token is in trouble, the Ripple executives do not fail to step forward and refute such allegations. Moh, a Twitter user and a cryptocurrency space enthusiast on Coinfield’s announcement stated: “awesome you can now get #digibyte #dgb with your #XRP!! Come to the true decentralized #cryptocurrency ! #DGB the standard.” Here, the Twitter handle known as XRP Research Center replied to the above comment and mentioned: “You’re kinda’ implying that XRP is not decentralized with that tweet. I’ll invite you to review what PoW has done with decentralization. Spoiler alert: Utopia.” - XRP Research Center Bobby Dee, who is also a DigiByte fan and follower also reverted and wrote: “In comparison to #DigiByte it is centralized ... and it’s more expensive to transfer value using XRP than DGB” - Bobby Dee The post XRP pairs with Stellar [XLM], DigiByte [DGB], USD Coin [USDC] on Coinfield appeared first on AMBCrypto.

a month ago

Coinbase Pro Lists Dai, Golem, Maker, and Zilliqa for Select Jurisdictions

US-based cryptocurrency exchange Coinbase today announced that it would be listing four new Ethereum tokens to its Coinbase Pro platform. The tokens are Dai (DAI), Golem (GNT), Maker (MKR) and Zilliqa (ZIL). The exchange is working on its previous announcement for bringing more ERC20 technical standard assets to the platform. Golem is not an ERC20 token but is Ethereum-based. Where Will the Tokens Be Available? The tokens will be available to customers of Coinbase Pro but only in select jurisdictions. Golem and Dai will be available for Coinbase Pro users in the UK, the EU, Canada, Australia, and Singapore. US users, except those in New York, will also get to trade in these coins. Maker and Zilliqa will not be available in the US but will be available for traders in Singapore, Canada, Australia, the EU, and the UK. The exchange started accepting deposits in all four coins around 11:45 am PT on December 18. Deposits will be accepted for 12 hours before trading starts. Then the exchange will enable limit orders. When Coinbase Pro achieves sufficient liquidity for these tokens, full trading will be allowed. Coinbase announced earlier this year that it would support many ERC20 tokens to its platform. Coinbase has already launched 0x (ZRX) and Basic Attention Token (BAT) and added a new stablecoin USDC as well. Coinbase also supported Loom Network (LOOM), Decentraland (MANA), districtox (DN) and Civic (CVC) on its platform recently. Full Token Functionality Not Accessible In a blog post announcing the new listings, Coinbase wrote that it would not provide smart contract functionality immediately to the users. It said: “Each of these tokens has associated functionality, some of which may be in beta. Moreover, each token’s associated functionality is not currently directly accessible via the Coinbase Pro platform.” Golem, for example, connects users to a distributed compute farm which cannot be accessed via Coinbase. Therefore, users who want to participate in the distinctive functionalities of these coins need to move them to a local wallet. Coinbase will only facilitate their buying, selling and storing. The exchange also said that it could bring more digital assets and ERC20 tokens to the platform. It said that adding ERC20 tokens first is relatively simple for them as these assets can easily be integrated into their existing infrastructure. The 12 Days of Coinbase Timeline Day 1- WeGift e-Cards: Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more. Day 2- Zcash Donation to Venezuelan families: The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families. Day 3- Cryptocurrency: The future of finance and money (Video): Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization. Day 4- New Watchlist feature: Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist. Day 5- Enables PayPal withdrawals: In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts. Day 6- Bitcoin donation for Syrian refugees: Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto. Day 7- Coinbase educates users on USDC: TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1. Day 8- Enables direct crypto conversions: Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps. Day 9- Coinbase Pro Lists four ERC20 Tokens: Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions. Day 10- To be confirmed... Day 11- To be confirmed... Day 12- To be confirmed... Coinbase Pro Lists Dai, Golem, Maker, and Zilliqa for Select Jurisdictions was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a month ago

9th Day of Coinbase Announced Support for Four More Ethereum Tokens

CoinSpeaker 9th Day of Coinbase Announced Support for Four More Ethereum Tokens Following their launches of 0x (ZRX), Basic Attention Token (BAT), and their stablecoin, USD Coin (USDC) across all Coinbase platforms, they also added Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA) to Coinbase Pro. The exchange said: “Our decision to add ERC20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint.” In their “12 Days of Coinbase” celebration, they announced support for DAI (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL). Of these, GNT is not technically an ERC20 token, but is an Ethereum-based token. Inbound transfers for DAI, GNT, MKR, and ZIL are now available in the regions where trading is supported. Traders cannot yet place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 Each of these tokens has associated functionality, some of which may be in beta. Moreover, each token’s associated functionality is not currently directly accessible via the Coinbase Pro platform. For example, the Golem GNT token provides access to a distributed computer farm, the Zilliqa network can be used to experiment with high-performance smart contracts, and the MKR and DAI tokens form a paired set of assets in which MKR provides governance, and DAI is a decentralized, collateral-backed stablecoin. In particular, direct access to smart contract functionality will not be immediately available through Coinbase Pro. As a result, users who want to engage in MKR governance, use their GNT tokens to submit rendering tasks to the Golem beta network, utilize functionality like Compound, or exit DAI positions in the event of global settlement will need to move their assets from Coinbase Pro to a local wallet. In Coinbase they said: “Our US Pro platform, operated by Coinbase, Inc., will support trading in DAI and GNT only. International Coinbase affiliates will support trading in MKR and ZIL for clients in select jurisdictions outside of the US. We recognize that there are popular assets that we have not yet added to our platform. Our decision to add ERC20 tokens first arises in part from the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint. However, as noted in our earlier post, we are exploring the addition of many new assets beyond ERC20 tokens on a jurisdiction-by-jurisdiction basis.” In Coinbase they said that they will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading will begin on each respective USDC order book. Support for GNT and DAI will initially be available for Coinbase Pro users in the US (excluding NY), the UK, EU, Canada, Singapore and Australia. MKR and ZIL will not initially be available to customers in the US, but will be tradable to users in the UK, EU, Canada, Singapore, and Australia. Additional jurisdictions may be added at a later date. There will be four stages to the launch as outlined below. Coinbase plans to follow each of these stages independently for each new order book. If at any point one of the new order books does not meet their assessment for a healthy and orderly market, they might keep that particular book in one state for a longer period of time, or suspend trading as per their trading rules. Coinbase is Rapidly Improving Their Platform Arguably the most important announcement for long-time investors, as Coinbase investors have had a limited choice until recently, the inclusion of more tokens follows up on Coinbase’s decision to support ERC-20 tokens. The exchange has gradually added several tokens to the exchange, such as 0x (ZRX) and Basic Attention Token (BAT). Coinbase has been the recipient of a lot of public attention in the second half of 2018. With new features and tokens expected in 2019, it is doing a remarkable job of bringing exposure to cryptocurrency, and altcoins in particular. Most recently, Coinbase announced new features such as instant PayPal withdrawals and feeless crypto-to-crypto conversions. The new additions have raised some concern in the community. Previously, the company has been cautious to add new coins. The rapid addition of these new ERC20tokens could expose the company to additional liability because of potential securities classification. Another controversy is why Coinbase has chosen this particular order for token listings. Whether the process is random, or influenced by other factors is subject to speculation. In Coinbase they said: “One of the most common requests we receive from customers is to be able to trade more assets on our platform. With the recent announcement of our new listing process, we anticipate listing more assets over time that meet our standards.” Nonetheless, the expansio

a month ago

Coinbase Gets Aggressive With Crypto Listing: Lists MakerDao, Golem, Zilliqa

Amid an extended bear market, Coinbase has surprised Bitcoin maximalists and crypto asset diehards alike, recently listing a series of crypto assets seemingly out of left field. However, many pundits and commentators have deemed that the San Francisco-based company’s shift in strategy is illogical, as it goes against formerly-established principles. Yet, the firm has only doubled-down on its growing penchant for alternative cryptocurrencies, listing a number of Ethereum-based tokens on Tuesday. Coinbase Pro Incessantly Lists More Cryptocurrencies On Tuesday, amid a flurried market rally, Coinbase Pro suddenly revealed that it would be listing DAI and Maker (MKR), the two assets of the Andreessen Horowitz-backed MakerDao project, Golem (GNT), and Zilliqa (ZIL). All the aforementioned assets are situated on the Ethereum Network, with Coinbase’s decision to list these crypto assets likely stemming from the technical ease of implementation. This recent sequence of listings come just weeks after the same platform unveiled support for Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA). DAI, GNT, MKR, and ZIL order books will soon enter transfer-only mode. We will accept inbound transfers in the regions where trading is supported. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 Starting Tuesday, users of Pro will be allowed to deposit DAI, GNT, MKR, and ZIL onto the platform. Pro intends to keep support for these assets in deposit-only for a minimum of 12 hours, ensuring that sufficient liquidity for the crypto assets is established to avoid market debacles. For now, the assets listed on Pro will remain on the professional trading platform, with support on Coinbase’s other platforms likely arriving within the next few weeks. While it seems that the world-renowned platform has added each and every crypto asset in recent months, there remain over 20 crypto assets on the startup’s chopping block. This extensive list, as reported by NewsBTC previously, includes community favorite XRP, prediction platform Augur (REP), and smart contract platform Cardano (ADA). Related Reading: Crypto Community Reacts to New Coinbase Listings: Reception Generally Negative Coinbase Shifts Business Strategy To Be Pro-Crypto Asset Although Coinbase’s intention to list an array of crypto assets seems innocuous enough, many pundits have seen this move as a hint that the startup’s business practices are enduring a radical underlying shift. Speaking to Linda Shin, the showrunner at the highly-acclaimed Unchained podcast, Dan Romero, one of the $8 billion firm’s multiple vice presidents, confirmed these rumors. In the one-hour-long installment of Unchained, Romero explained that his firm’s clientele has begun to clamor for crypto asset support, presumably catalyzing the recent listings. Romero, who has headed Coinbase’s pro-crypto asset movement, noted that in a bid to keep customers safe within Coinbase’s gated community, so to speak, his firm has embarked on a mission to support as many assets as legally viable. And, as seen by Tuesday’s announcement, Coinbase’s alteration in its fundamental game plan has already manifested. Yet, the upstart’s thirst for innovation hasn’t only culminated in assets supported, but with its already-expansive, yet rapidly-growing product roster as well. Just a day prior to Tuesday’s listing debacle, Coinbase revealed that its consumer-centric platform would be offering in-house crypto-to-crypto trading support. This addition, which was the focus of the fintech giant’s 8th “12 Days of Coinbase” announcement, has been dubbed “Convert.” As its name implies, Convert will allow users of Coinbase’s iOS or Android apps and Coinbase.com to instantaneously one cryptocurrency to another at a “lower than if done via two separate transactions.” The long-standing cryptocurrency exchange will be charging a 1% spread per “Digital Asset Conversion” request, but the actual fee incurred may vary, due to “market fluctuations.” While Coinbase’s newfound enamorment for crypto assests could be classified as an overt power play, the firm’s cardinal mission is, of course, to create an open financial system for the world. Its recent offerings are likely only a byproduct of its ambitions to accomplish this arduous mission. Still, an extremely long road lies ahead of Coinbase, along with its fellow platforms all across the road, as cryptocurrencies are still in their earliest phases. Travis Kling, the investment head at the recently-launched crypto hedge fund Ikigai, stated that although Bitcoin’s blockchain has been up-and-running for a decade, a majority of its history was just getting its wings off the ground. By the same token, the former institutional investor explained that most of the publicity and development that has fallen on cryptocurrencies, came within the last 18 to 24 mont

a month ago

Chatter Report: Schiff Accuses Kelly of Pump and Dump, Lingham Calls for ‘Real Adoption’

In our latest roundup of crypto chatter, tensions run high as Peter Schiff accuses Brian Kelly of dumping bitcoin on retail investors. The accusation surfaced after Kelly recently revealed that he is net short on BTC. Also, Vinny Lingham gives great advice to the crypto community on building for the future. Also read: Bitcoin Skeptic Peter Schiff to Joe Rogan: BTC Will Plummet, Voorhees Debate Rigged CNBC Regular Accused of P&D Longtime gold proponent and bitcoin skeptic Peter Schiff has accused Brian Kelly Capital Management founder Brian Kelly of using his position as a CNBC regular to “pump and dump” bitcoin. In a recent video released by CNBC, Kelly casually mentions that he is net short on bitcoin. Under normal circumstances, Kelly shorting bitcoin would not raise eyebrows in this bear market. However, Kelly’s recent comments seem to be entirely incongruent with almost every other clip of him on CNBC. A Trip Down Memory Lane Just watch this video of Kelly released by CNBC last August, where he heavily shills bitcoin. While referencing a BTC price that was around $7,400, Kelly boldly proclaims, “If you’re looking for an entry point in bitcoin this might just be the place”. There is a huge disconnect between Kelly recommending the “completely under-appreciated” cryptocurrency markets in August and the same man sheepishly mentioning that we are “getting closer to the bottom” in the recent CNBC video. Even more disturbing are the implications of Kelly’s actions, as he may have been shorting and dumping cryptocurrency bags on retail investors who listened to him on CNBC, which would be a massive conflict of interest. Alternatively, Kelly could have only recently taken short positions some time after he was shilling cryptocurrencies throughout most of 2018. That would imply that Kelly is unqualified to talk about cryptocurrency price movements, however, as he has been completely wrong on his predictions thus far. Vinny Lingham on Building for the Future In other news, Civic CEO Vinny Lingham has been tweeting advice for the cryptocurrency community to build for the future. There is a large skill/knowledge gap between observers/speculators/traders and builders. Those who are building need to keep their heads down and continue to execute. Traders will trade & the market will judge the best projects in the long term, so ignore the short term sentiment — Vinny Lingham (@VinnyLingham) December 18, 2018 Lingham explains that traders and speculators feed off volatility and do not care about creating value in the cryptocurrency ecosystem. He describes this profit-seeking behavior with no value creation as a skill gap for traders. Traders will trade and influence prices in the short term, but in the long run, the market will reveal the value of good cryptocurrency projects. Quoting Jeff Bezos, Lingham explains that builders are “misunderstood for long periods of time.” Their hard work doesn’t seem to be reflected in the prices of the cryptocurrency projects that they are a part of. However, by keeping their heads down and focusing on real world adoption, builders will see the value of their work reflected in future prices. What do you think of Schiff accusing Kelly of dumping on investors? What about Lingham’s advice for building? Let us know in the comments below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Chatter Report: Schiff Accuses Kelly of Pump and Dump, Lingham Calls for ‘Real Adoption’ appeared first on Bitcoin News.

a month ago

Breaking: Coinbase Lists Dai, Maker (MKR), Golem (GNT), and Zilliqa (ZIL)

On Tuesday afternoon, Coinbase Pro, the professional trading platform of the similarly named startup, divulged that it would be listing four prominent altcoins as its 9th daily announcement for its “12 Days Of Coinbase” initiative. As revealed in a blog post pertaining to this news, the platform will be listing DAI and Maker (MKR), the two primary digital assets that pertain to the MakerDao project, Golem (GNT), widely dubbed one of Ethereum’s most promising products, and Zilliqa (ZIL), a startup aiming to initiate the blockchain 3.0 revolution. DAI, GNT, MKR, and ZIL order books will soon enter transfer-only mode. We will accept inbound transfers in the regions where trading is supported. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 These four cryptocurrencies are all Ethereum-based tokens, which lines up with the startup’s recent listings of Civic (CVC), district0x (DNT), Loom Network (LOOM) and Decentraland (MANA). Starting today, Pro will begin to accept “inbound transfers” for the projects mentioned in this article’s first paragraph, before opening order books once sufficient liquidity and demand is established. Support for GNT and DAI will be initially available for Coinbase’s clientele in the U.S. (except NY State), the U.K., E.U., Canada, Singapore, and Australia. MKR and ZIL will also be offered for consumers situated in the listed countries as well, except for the U.S., presumably due to regulatory constraints. It is important to note that this feature isn’t available on Coinbase.com (Consumer) just yet, but this is likely to change over the next few weeks. Ethereum World News will update you as time goes on. Make sure you keep in checking in. Title Image Courtesy of Marco Verch Via Flickr The post Breaking: Coinbase Lists Dai, Maker (MKR), Golem (GNT), and Zilliqa (ZIL) appeared first on Ethereum World News.

a month ago

Civic CEO Vinny Lingham Criticized After The Company Partners With Controversial Dentacoin

Civic CEO Vinny Lingham has been a subject of controversy after announcing a partnership with Dentacoin. Lingham raised $33 million in an ICO for Civic last year and has remained silent after that. Dentacoin will now use Civic’s services to authenticate candidates for its dental health training. However, Dentacoin itself has been questioned over its legitimacy. Civic has been accused of new partnerships with a series of failing companies. In August, Civic partnered with Paragon, another startup that raised millions of dollars and had very little progress. Civic (CVC) is priced at $0.051167, gaining 4.90% in the last 24 hours. (VS)

a month ago

‘Stop Calling Him Oracle’: Paragon, Dentacoin and BCH Haunt Vinny Lingham

Civic CEO Vinny Lingham is the subject of no confidence calls this week after his startup partnered with controversial blockchain entity Dentacoin. Dentacoin Goes For Damage Control Lingham, who raised $33 million for Civic in an ICO last year, had remained largely quiet regarding use of the funds, the ongoing cryptocurrency bear market taking a heavy toll on its CVC token 00 which currently trades at record lows. Netherlands-based Dentacoin, which itself has gained a dubious reputation over the legitimacy of its operations, will now use Civic’s services to authenticate candidates for its dental health training. News of the partnership immediately saw mixed reviews, CVC investors having eagerly awaited news of a turnaround move which would increase their fortunes. On Twitter, users drew parallels between Dentacoin and Civic’s earlier deal with Cannabis startup Paragon in August. Paragon, which likewise raised a significant amount via an ICO, had made little progress beyond token gestures such as opening coworking spaces, Bitcoinist reported. Last month, the US Securities and Exchange Commission (SEC) succeeded in ordering Paragon to repay millions of dollars in contributions and fines over failure to comply with securities laws. Dentacoin was forced to respond to the barrage of criticism. “This is another great step forward towards creating a seamless UX and authentication across all our tools. Leave your username and password in the past, for CivicConnect and Dentacoin are here to take you to the future,” an official wrote. We are proud to be the pioneering project for CivicConnect. This is another great step forward towards creating a seamless UX and authentication across all our tools. Leave your username and password in the past, for CivicConnect and Dentacoin are here to take you to the future. — Dentacoin (@dentacoin) October 22, 2018 Delphic Oracles Paragon and Dentacoin are just the latest PR battles in what has been a troubled year for Lingham. In January, the entrepreneur publicly said altcoin Bitcoin Cash (BCH) was “undervalued” as altcoin markets reached all-time highs. “When I look at it from a product standpoint, I think the greater demand is for peer-to-peer cash than digital gold,” he told CNBC, referring to Bitcoin Cash over Bitcoin, respectively. CNBC had referred to Lingham with the nickname ‘Bitcoin Oracle.’ In the ensuing eleven months, BCH 00 has split into two chains and lost the vast majority of its value, one chain like CVC trading at the lowest levels in its history. Unsurprisingly, the interview has come back to haunt Lingham, one user appealing to CNBC on Twitter following the Dentacoin announcement: “Please stop calling Vinny the Bitcoin Oracle.” What do you think about Vinny Lingham’s forecasts and Civic partnerships? Let us know in the comments below! Images courtesy of Shutterstock The post ‘Stop Calling Him Oracle’: Paragon, Dentacoin and BCH Haunt Vinny Lingham appeared first on Bitcoinist.com.

a month ago

Europe: Crypto and Blockchain News Roundup 7-13 December 2018

Europe 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. United Kingdom MP Calls for Council Tax Payments Using Bitcoin: UK Member Parliament (MP) Eddie Hughes, a pro-crypto voice in the parliament has called for paying of council taxes using Bitcoin and Ethereum. The move may have rattled some feathers of his other colleagues, most of whom have a very conservative attitude towards cryptocurrencies. Council taxes are charged for residents in the UK where it is used to fund local services in their localities. The tax is the second largest source of income for the government after income tax. Hughes said: “Only recently I met with the RNLI [Royal National Lifeboat Institution] which is now accepting charitable donations through cryptocurrency - if we can do that, what’s to stop us from being able to pay council tax and other bills with Bitcoin?” While regular crypto users may not immediately get to pay their council tax using Bitcoin, the statement will definitely put crypto back in the spotlight in the politics which is overdosed with Brexit these days. France Yellow Vest Protestors Go Crypto: The protesting yellow vests have now planned to introduce their own cryptocurrency called GiletJaunCoin. The movement has been in the spotlight in recent times as it spearheaded some of the biggest protests the country has seen in decades that amounted to a serious loss to public and private property. While Gilet Jaunes themselves are not actually a political party, they are united in demanding more libertarian views including lowering taxes and calling for political reforms. But, due to lack of real focal persons, it is yet to be seen how the new coin will prevail in the market. As of now, it has achieved a block height of 40,000 and the total amount of hash rate is 2.4 Gh/s. President Macron’s Reforms Result in Improving Blockchain Investment and Innovation: While the President of France Emmanuel Macron is under pressure these days from protesting groups led by Gillet Jaunes, his reforms have increased participation and expanded the blockchain industry in the country. IBM alone with its blockchain investments is expected to bring as much as 1500 jobs to the market. Other measures like reducing the taxation of cryptocurrency gains taxes are also ensuring a steady stream of cryptocurrency related investment in the country. Netherlands Limburg Province Launches Crypto Community: Dutch southern province Limburg has partnered with blockchain company Belfius to create a cryptocurrency community in the area. The founders of this move believe that the move will encourage sustainability, community support, and police reforms. It will also help create useful supply chains in the 10 counties of the province. While there is no fiat backup for the new cryptocurrency, it can easily be transferred from users’ wallets and can be used to provide a range of civic and other responsible activities. In other news, the Dutch Central Bank is now taking a closer look at cryptocurrency exchanges operating in the country. The De Nederlandsche Bank (DNB) is now reportedly trying to come up with new regulations for this space. Russia No Major Changes to Crypto Bill: The deputy prime minister of Russia Maxim Akimov has said that the recent cryptocurrency regulation bill put forward by the regulators has seen little changes in the content when it was sent to the government for approval. The three separate bills “On digital financial assets”, “On crowdfunding” and “On digital rights” will eventually be included in the National Program of Digital 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:BitcoinNews.com The post Europe: Crypto and Blockchain News Roundup 7-13 December 2018 appeared first on BitcoinNews.com.

a month ago

Daily Crypto Roundup 12/14/2018

Today in the crypto space we saw Basis shut down its stablecoin operation, as U.S. government officials warned against bomb threats that demanded bitcoin, and the Civic team gained a former Apple powerhouse. Binance also added another stablecoin, and Tom Lee explained bitcoin’s true price value. Here are the details: Basis Stablecoin Project Will Shut Down And Return All Funds The Basis stablecoin project recently announced closure due to regulatory difficulties. Basis reportedly had a great team and vision. However, their stablecoin system included two other tokens, “bond tokens” and “share tokens”. These other two tokens might have been the cause for concern in the situation. In order to retain price stability, Basecoins needed to be switched out with the projects other two tokens, depending on market conditions. Read on Crypto Insider US Government Issues Advice Over Bitcoin Bomb Threat Emails The National Cybersecurity and Communications Integration Center (NCCIC) recently warned the public of recent bomb threat emails. Emails included individuals threatening to bomb organizations, demanding bitcoin as payment to avoid such violence. According to the NCCIC announcement, “[i]f you receive a bomb threat email, NCCIC recommends the following actions: Do not respond or try to contact the sender. Do not pay the ransom. Report the email to the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center or to a local FBI Field Office.” Read on CoinDesk Blockchain Startup Civic Appoints Apple Veteran As Executive Director Of Identity.com Civic, a popular blockchain project in the self-sovereign identity space, brought Phillip Shoemaker on board as Identity.com’s new executive director. (Identity.com is the ecosystem for the Civic project.) Shoemaker is the former senior director for Apple’s App Store Review operation. He grew his team from a handful of employees to a team of more than 300 during his seven years there. Civic’s Co-founder and CTO Jonathan Smith said in yesterday’s press release that the “caliber of [Phillip’s] experience immediately set him apart as a dynamic leader.” Read on CoinTelegraph Top Crypto Exchange Binance Adds Circle’s USDC To Its Combined Stablecoin Market Binance recently added USD Coin (USDC) to the mix as yet another stablecoin option on their platform. USDC will be available on Binance’s USDⓈ Stablecoin Market. Last month, Binance “rebranded its Tether (USDT) Market as the combined USDⓈ market to allow for the support of more trading pairs with different stablecoins offered as a base pair,” CoinTelegraph explained in today’s report. Read on CoinTelegraph Unabashed Bitcoin Bull Thomas Lee Says The Market Is Wrong Fudstrat’s Tom Lee, known for his $25,000 end-of-year bitcoin price prediction earlier this year, recently made further comments on bitcoin’s value. According to a Bloomberg report yesterday, Lee stated bitcoin was vastly undervalued at less than $3,400. He said the asset should be worth about $14,800. Lee mentioned the number of active wallet addresses, account usage, and supply aspects, to explain why bitcoin should be valued in the price range of $13,800 to $14,800. Read on Bloomberg The post Daily Crypto Roundup 12/14/2018 appeared first on Crypto Insider.

a month ago

Civic hires former Apple executive to grow its identity verification platform

Civic, the decentralized identity startup, announced that it hired Apple veteran Phillip Shoemaker as executive director of Identity.com. Civic acquired Identity.com in July of this year to build out its decentralized identity verification ecosystem. Shoemaker will oversee the development and growth of the decentralized identity ecosystem, according to Civic. At Apple, Shoemaker worked as a senior director for App Store Review division, growing his team from 4 to over 300 employees. “Phillip’s knowledge of blockchain and expertise building internal infrastructure will guide Identity.com through a key time of deployment and growth. We’re happy to see him take on the task of building and leading the Identity.com team,” said Jonathan Smith, Civic Co-founder and CTO. The post Civic hires former Apple executive to grow its identity verification platform appeared first on The Block.

a month ago

Dutch Central Bank Takes Closer Look at Exchanges

The Dutch Central Bank, De Nederlandsche Bank (DNB) has announced its plans to impose regulations on cryptocurrency exchanges in the country in order to counter money laundering and fundraising for terrorist activities. In future, registering exchanges will need to ensure that any “unusual transactions” are reported and that exchanges’ KYC rules are tightened. The new legislation was not completely unexpected by the Dutch cryptocurrency community. The central bank has long been unreceptive to the idea of digital currency, maintaining back in November of 2017 that Bitcoin had no real worth. According to DNB regional director Petra Hielksma at that time, “If something wants to be treated as money, you have to be able to spend, save and calculate with it.” The Netherlands has been quick to find numerous worthy use cases for DLT, particularly in projects that support local communities, health, and civic pride. The larger community has been mainly positive towards cryptocurrencies too, despite the country’s Finance Minister Wopke Hoekstra proposing a ban on cryptocurrency advertising and trying to douse enthusiasm. Arnhem, near the German border, has become the country’s crypto haven, where Bitcoin can be used to buy anything from bread to beer using Bitcoin and other major currencies. Despite the DNB’s concerns about cryptocurrency, approximately 60% of the households in the Netherlands have some cryptocurrency investment. However, the DNB points to the more than USD 88 million reportedly laundered over 46 cryptocurrency exchanges around the globe during the past two years, as enough evidence that the government needs to take firmer measures with exchanges with regard to money laundering and other illegal activities. In terms of expressing a social conscience though, the nation continues to demonstrate its progressive uses for blockchain by forming partnerships with the World Bank, the UN, and the EU Forum. Earlier this year, the Dutch government announced that the Ministry of Economic Affairs and Climate Policy had created a special unit devoted to researching the ways in which blockchain technology could be harnessed to provide reliability in the area of tech development while being energy sustainable. 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 Dutch Central Bank Takes Closer Look at Exchanges appeared first on BitcoinNews.com.

a month ago

Vinny Lingham's Civic Appoints New Executive Director For Identity.com

Blockchain startup Civic, run by Vinny Lingham has appointed Phillip Shoemaker as executive director of Identity.com. Identity.com is Civic’s open-source, Ethereum-based decentralized identity platform. Shoemaker is an Apple veteran who served as senior director of the Apple App Store Review team for seven years. He built it from the ground up, taking his team from 4 to over 400 employees. The appointment comes at a key time as Identity.com is looking to add external organizations to its ecosystem. (VS)

a month ago

AirdropAlert Giveaway

AirdropAlert Giveaway Airdrop is worth 1000 SNTR and 200 SNTR for every referral! AirdropAlert rewards everyone who created a Airdropalert dashboard account and completed the CIVIC KYC. If you already completed these steps, you will automatically be eligible to receive 1000 SNTR tokens! Make sure to add your ETH address to your profile. If you want to earn more tokens, complete the airdrop form to receive your unique referral link and earn 200 SNTR for every referral! Would you like to receive the latest free Airdrop Alerts? Join our Airdropalert Telegram. How to join AirdropAlert Giveaway? Create an acoount on AirdropAlert dashboard and add your ETH address to your profile. Complete the CIVIC KYC. Submit your details on Airdropalert Giveaway airdrop form. Airdrop reward is 1000 SNTR and it will be distributed in January 2019. You will receive a confirmation email with your unique referral link. Refer friends to earn 200 SNTR for every referral. For questions about the AirdropAlert Giveaway, please check our FAQ. If you use the ''CLAIM AIRDROP'' button below to claim the AirdropAlert Giveaway airdrop, it will automatically show on the main page with a purple check mark. So you can easily track which airdrops you joined and which ones you need to join. If you liked AirdropAlert Giveaway airdrop, also check out MenaPay Exclusive Airdrop, BitSafe Exclusive Airdrop and Betking Exclusive Airdrop.

a month ago

CyberVein and Zhejiang University will build a blockchain re...

CyberVein and Zhejiang University will build a blockchain research and development system jointly #Blockchain #CVT… https://t.co/YVaWNPzvMD

a month ago

VanEck’s Director Says Regulators Have Their Priorities Backward as the SEC Continues to Postpone Bitcoin’s ETF

VanEck director Gabor Gurbacs is enraged by the SEC’s decision last week to extend the review period for the VanEck/SolidX Bitcoin ETF to February 27. On top of this disappointment, Coinbase announced that that it had listed four small-cap ERC20 tokens including CVC, DNT, LOOM, and MANA on its platform. To this end, Gabor took to Twitter to call out the SEC’s double standards regarding assessing the risk between retail and institutional investors. According to Gabor, the SEC is not playing fair by allowing Coinbase to list s**tcoins while postponing the approval of their Bitcoin ETF. (KE)

a month ago

Coinbase Pro Announces the Listing of ERC20 Tokens of Civic (CVC), LOOM, DNT, and Decentraland (MANA)

Coinbase Pro, the Pro version of crypto exchange Coinbase, has announced to the cryptocurrency community that it is listing the ERC20 tokens of Civic (CVC), Loom Network (LOOM), Decentraland (MANA), and district0x (DNT), a report said. The announcement comes just a few hours after Coinbase revealed that it was exploring adding 31 new virtual currencies. As per the report, Coinbase Pro is already accepting inbound transfers of MANA, LOOM, DNT, and CVC. (VK

a month ago

Bitcoin faced with red; focus on building for a bullish tomorrow

As it stands, the cryptocurrency market seems to be starting the week in the red with a moderate dip after what seemed to be a slight recovery. After the plummet midway through November, Bitcoin saw a low of $3587 USD on the 25th of November. At present, the token is taking a little rollercoaster around the $4000 USD zone with slight inclines and declines showing no major action either way. At present, the market is flooded with red with patches of greens coming from several altcoins. Mithril, a token based on Ethereum’s platform, is boasting the highest day-on-day trading increase sitting 35.5% higher in value. It seems, however, that unless the big influencers, such as Bitcoin, Ripple and Ethereum, move steadily upwards, the market is unlikely to pick itself off the ground. Although the red is not a welcome site for traders and investors, business owners in the industry seem optimistic about the aggressive bear market. Vinny Lingham, the CEO of cryptocurrency company Civic Key, has said that this is the best state in which to start building for a time when the bull market kicks in. In my experience, it’s absolutely the best time to build a business! https://t.co/TnX3EH7aPl — Vinny Lingham (@VinnyLingham) November 29, 2018 CNBC’s Cryptotrader Ran Neuner has expressed the same opinion too, saying that a business should aim to “[b]uild and test things in a bear market, if they work you can be certain of success in the bull market.” The post Bitcoin faced with red; focus on building for a bullish tomorrow appeared first on Coin Insider.

a month ago

2018’s Bitcoin (BTC) Chart Mirrors Last Bear Market: ‘Bulls May Awaken’

“This Chart [May] Awaken Bitcoin (BTC) Bulls” Analysis completed by Fundstrat technician Rob Sluymer, which was subsequently relayed through MarketWatch’s Aaron Hankin, indicates that the current Bitcoin (BTC) price chart entirely mirrors that seen in late-2014 and early-2015, this market’s last dismal bear market. For those who aren’t in the loop, during late-2014 and early-2015, BTC saw a sharp sell-off after hitting quadruple-digits in late-2013 in an industry first. This infamous historic bear market, which was only exacerbated by the world-renowned $440 million Mt.Gox hack and subsequent fallout, saw altcoins, such as the now-near-deceased Feathercoin, lose 90%+ of their value, while BTC held relatively strong. Still, the fact of the matter is during that period, which lasted for upwards of one year, BTC fell by 84%. And interestingly, while 2018’s bear era hasn’t lasted as long, Sluymer of Fundstrat Global Advisors, a Bitcoin-friendly, New York-based market research firm, recently drew lines between current and historical price levels. More specifically, as depicted in the chart below, 2018’s and 2014/2015’s BTC decline didn’t only amount to ~85%, but just as BTC fell by 43% in the first two weeks of 2015, the asset fell by 45% from November 11th to the 25th. So, taking into account that in 2015, BTC saw a sharp drawdown before undergoing a monumental recovery, some believe that the short-term future is bright for the cryptocurrency market at large. As many like to say, “markets rhyme not repeat.” Sluymer, touching on the recent Bitcoin capitulation and 2015’s, wrote: In contrast to bounces that have developed through 2018, weekly RSI [relative strength index] is now at levels not seen since BTC’s last bear market low in early 2015 and BTC is showing very early evidence of responding to its long-term uptrend after three major downside moves through 2018. It isn’t clear if the cryptocurrency market is poised to bounce, but many bulls are surely awaiting such a bout of price action. Not Everyone Is All Too Convinced While Fundstrat’s astute analysis does hold value, many aren’t convinced that lines can be accurately drawn, as the Bitcoin industry has matured beyond measure in the past year alone, and even more so in the past four. Moreover, others have claimed that the worst has yet to come for crypto assets, with a multitude of analysts noting that lower lows are in Bitcoin’s cards. Vinny Lingham, CEO of blockchain-centric identity ecosystem Civic, cut out some time to speak to CNBC Fast Money’s panel on Monday. 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, the Civic chief 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. The entrepreneur added that if a convincing breakout isn’t established by the end of Bitcoin’s six-month range, a strong foray under $3,000 wouldn’t be out of the realm of possibility. Another industry insider, Murad Mahamudov, a Princeton grad turned astute crypto analyst, recently claimed that BTC is in the midst of a long-term descending triangle, a bearish trend in other words. Mahamudov notes that if BTC remains in its bearish state, the asset could fall to as low as $3,000 when 2018 comes to a close. Title Image Courtesy of Andre Francois on Unsplash The post 2018’s Bitcoin (BTC) Chart Mirrors Last Bear Market: ‘Bulls May Awaken’ appeared first on Ethereum World News.

2 months ago

Prominent Crypto Analyst: Bitcoin over $4,400 May Catalyze 10% Rally

As Bitcoin continues to toss and turn day-to-day, failing to establish a solid footing at a single support level, the crypto market’s preeminent analysts have assumed the mantle of forecasting where prices could head next. While some commentators are often lambasted for their dubious and baseless predictions, there remain voices of reason, who analyze crypto with caution and finesse, even in the direst of straits. Bitcoin at $4,900 Could Be Possible, Important Short-Term Level Since November 14th, the eve of Bitcoin Cash’s contentious network upgrade, the crypto market has been endowed with a renewed sense of panic, catalyzing sell-off after sell-off in recent weeks. In a matter of two weeks, Bitcoin fell from $6,200, where it held throughout the summer, to a year-to-date low of $3,500, the asset’s lowest value since China clamped down on crypto in September 2017. Related Reading:Investor: China Has a “Love-Hate” Relationship with Crypto and Blockchain However, since Bitcoin fell under $4,000 on two recent occasions, which came alongside the aggregate value of crypto assets foraying below $130 billion, bears have scaled back on their apparent crusade. In the past 72 hours alone, Bitcoin has moved from $3,700 to a weekly high of $4,375, an 18% move that didn’t go unnoticed. Alex Kruger, a well-respected markets analyst, recently took to his expansive Twitter following to divulge his most recent analysis. Kruger noted that if the aforementioned digital asset makes a convincing move above $4,400, $4,800 to $4,900 could be in Bitcoin’s cards. Looking for 4800-4900 if 4400 gets breached. That's the base of Nov/19 and right above 20EMA. Starting with 4800 interested in shorts. This was initially 4400, changed plan. Below 3700 exit longs. Too soon to short the lows again, would like prior consolidation for that. $BTC pic.twitter.com/hVQ5bGnTIc — Alex Krüger (@Crypto_Macro) November 29, 2018 Elaborating on the significance of this specific target, Kruger, a New York-based crypto backer, noted that not only is $4,900 slightly above the 20-day exponential moving average (EMA), but also the base of Bitcoin on November 19th. Although the importance the analyst places on the 2o-day EMA indicator is self-explanatory, Kruger’s use of the November 19th’s base is rather astute, as that day preceded the thirdhand sell-off that sent Bitcoin under $4,800, a supposed key level. Keeping this data in mind, Kruger then noted that he changed his short position order to $4,800, rather than $4,400. This, of course, indicates that for now, Bitcoin could undergo a hefty 10% move in the coming days. Not All Crypto Analysts Are Expecting a Reversal Just Yet Although Kruger, known for his cautious optimism, now holds a bullish-leaning short-term outlook for the cryptocurrency realm, not all of his peers, other industry insiders, are in his boat, so to speak. As reported by NewsBTC previously, Vinny Lingham, CEO of Civic, recently 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 referenced by crypto 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 successfully. 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. Murad Mahmudov, an astute cryptocurrency analyst formerly of Princeton University, issued similar sentiment, drawing attention to an in-depth chart of his creation that highlighted a year-long descending triangle for Bitcoin. Keeping the trepid chart in mind, Mahmudov claimed that Bitcoin could be poised to bottom in the ~$3,000 range by the turn of the year. And interestingly, Kruger himself, responding to his short-term analysis, claimed that this is a “static/base game plan” for traders, not for investors. He added that due to the macro landscape, likely referencing the drawdown in traditional equities markets, the long-term bottom for cryptocurrencies may still be a distant speck on the horizon, not a looming obstacle. Featured image from Shutterstock. The post Prominent Crypto Analyst: Bitcoin over $4,400 May Catalyze 10% Rally appeared first on NewsBTC.

2 months ago

Bitcoin Price Says Goodbye To $4K Again as $3K Support Could Be Next

The Bitcoin price fellow below $4000 again November 30 as upward momentum stalled, taking the largest cryptocurrency to local lows of $3920. $4.4K Spelled Rejection For Bitcoin As of press time Friday, BTC/USD 00 was circling $3950 after climbing as high as $4390 a day earlier. The turnaround continues the trend of volatility which began two weeks ago with the advent of the Bitcoin Cash hard fork. In the intervening period, analysts and pundits have revised down their expectations for Bitcoin in the mid term. According to Bitcoinist contributor FilbFilb, the latest failure to find support at $4000 calls for the Bitcoin price to extend its downturn, possibly as far as $3000. Earlier this week, Civic CEO Vinny Lingham had told mainstream media the suppression could continue much longer, with BTC/USD staying under $5000 for “at least” three months. $4k looking increasingly likely pic.twitter.com/mZdxiFkIIv — fil₿fil₿ (@filbfilb) November 30, 2018 Not Everyone Is Worried Across altcoin markets meanwhile, Bitcoin’s drop led to fresh difficulties for the majority of the top twenty assets by market cap. Only Bitcoin SV, the new fork of Bitcoin Cash, escaped the trend, having begun trading in opposition to BTC since its creation. According to data from Coinmarketcap, both number two and three assets Ripple (XRP) 00 and Ether (ETH) 00 had fallen to a slightly lesser extent than BTC over the past 24 hours. While worries continue over the fate of cryptocurrency structures from ICOs to miners due to prices sinking, however, investment sources appear increasingly resilient. This week saw a further multimillion-dollar fund set up in from German outfit Xolaris geared to mining investment. The decision, executives said in a press release, was in response to client demand for a “regulated product.” Prior to that, Bitcoinist reported, the government of Paraguay had gone considerably further, confirming its official support for the world’s largest Bitcoin mining farm, a project dubbed ‘Golden Goose.’ What do you think about Bitcoin markets this week? Let us know in the comments below! Images courtesy of Shutterstock The post Bitcoin Price Says Goodbye To $4K Again as $3K Support Could Be Next appeared first on Bitcoinist.com.

2 months ago

AMZN! $4K Bitcoin Still Historically Outperforming Amazon Stock

Bitcoin price held above $4000 November 29 as talk turns to the cryptocurrency’s continuing appeal over major stocks such as Amazon in recent years. BTC Still Beats Amazon Even at $4K After a dip to lows around $3500, something not seen in over a year, Bitcoin managed to reclaim and hold onto the $4000 mark Wednesday, hitting local highs of $4339 before correcting closer to $4190. Analysts had warned through last week that the mass sell-off could easily continue into the mid-term, Bitcoinist reporting on Civic CEO Vinny Lingham telling mainstream media this week that a sub-$5000 Bitcoin price could last “at least” three months. As BTC/USD 00 appears to close in on $4500, meanwhile, other proponents are highlighting the cryptocurrency’s strength as an investment despite the volatility. In data uploaded to Twitter, one commentator noted Bitcoin has outperformed Amazon stock (AMZN) for five out of the past seven years. Adding what he described as a “crazy” prediction, he added Bitcoin should ultimately beat Amazon’s $880 billion market cap within the next decade. Bitcoin currently has a market cap of $73 billion, itself up $7 billion in just two days. ‘Short-Lived Opportunity’ For $2K Beyond the cryptocurrency scene, tech and FAANG stocks including Amazon began recovering this week, fuelling a positive relationship, which has seen Bitcoin react in kind to recent upheaval. In comments which could be mistaken for a Bitcoin price forecast, Credit Suisse strategist Jonathan Golub suggested a return to form for those stocks was inbound but it “is not the bull market you knew before.” “In the near term I think tech is going to bounce very hard,” he told CNBC’s ‘Fast Money.’ In separate Bitcoin-specific comments to the network Wednesday meanwhile, BlackTower Capital partner Michael Bucella warned that BTC/USD may not have completed its “distress cycle” and could shed another 50 percent of its price in a “one more leg lower.” “But I think that opportunity will be very short lived, and I think the level we’re at right now is a great long-term entry point if you’re accumulating,” he summarized. What do you think about Bitcoin’s price potential? Let us know in the comments below! Images courtesy of Shutterstock, Twitter The post AMZN! $4K Bitcoin Still Historically Outperforming Amazon Stock appeared first on Bitcoinist.com.

2 months ago

Why Blockchain-Based Projects Need to Be Their Own Early Adopters

The perks of decentralization are well-known - no single entity to control the process, reduced costs, and higher security due to the distribution of nodes. However, is it enough to attract the average user to blockchain-based platforms? Statistics prove that the answer is no, unfortunately. Most people simply do not care about the benefits of decentralization, but rather about how useful and user-friendly the products are - regardless whether they are built on the blockchain or not. Still, blockchain projects continue to launch empty platforms with no particular application. So how do you attract users and make the blockchain more widespread? The possible answer is to be your own early adopter and create original content! The absolute majority of blockchain projects die fast Ever wonder how many of blockchain companies manage to stay alive and active after several years? A recent study conducted by the China Academy of Information and Communications Technology found that for over 80,000 blockchain-based projects launched globally, only 8% are still in active operation. The average lifespan for such projects is just a bit over one year (1.22 years). The possible reason for this is low demand: the data on the number of users shows that blockchain projects lack user adoption. Daily Active Users (DAU) discloses that the number of users of the most popular applications on Ethereum is less than 1,000. Compare that to Facebook, for example, which has about 1.5 billion users visiting it every day! Another example is Steemit, a decentralized social network, that announced it had surpassed 1 million users in May 2018. That’s definitely a milestone, but to put this in perspective Medium has 60 million readers monthly. What stops the blockchain from mass adoption? Expert opinions Dr. Michael J. Garbade, the founder and CEO of Education Ecosystem and serial entrepreneur, lists the nine obstacles to blockchain adoption - among them are people’s resistance to change and lack of primary application. His opinion is supported by other industry experts, such as Ivan Vankov, principal blockchain architect at Cognition Foundry. “Every one try to revolutionize something with blockchain. Mass media and social expectations push you to this behavior, always to look for the maximum, for the extreme, for unique and different, but the reality is very different. People do not like revolutions, especially if they are involved in it. People will do everything that they can do so tomorrow to be the same as yesterday. Same apply for business. Do not try to revolutionize, try to evolve. ” This statement is proven by recent history: researchers started using TCP/IP, the technology that makes it possible to send emails to each other, in 1972. A number of companies were exploring the opportunities of TCP/IP during the 1980s, but the solution didn’t evolve until the mid 1990s. For the blockchain, the process is likely to be similar - and the projects will have to adjust to their customers so that they get used to the new technology. As James Martin Duffy, co-founder at Loom Network, says, “[There is a] lack of ‘killer dApps’ - applications that are good enough to incentivize millions of users to really want to use them.” James explains, “They might conceptually understand why decentralized apps are better. But simply saying, ‘It’s Facebook — but decentralized!’ doesn’t seem to be a strong enough value proposition to get people to jump ship from a centralized Facebook that, despite its many shortcomings, more or less works just fine. For the majority of mainstream users, the promise of decentralization, in itself, is not enough.” The question remains: how do you make average users interested in blockchain projects? One of the possible solutions is providing original content to the users so that they become interested in it - and addicted to it. Be your own early adopter - create original content The recent research by IHS Markit shows that Netflix produced 1,257 hours of original content in 2017 - 25% more than planned! This year, the company is going to spend $8 billion on it (up from $6 billion last year). Amazon Prime, Netflix’s competitor, is far behind with only 285 hours in 2017 - however, 40% of them was original first-run international content. For both companies, the number of original hours produced annually was steadily increasing during the last five years - and so was the number of subscribers, by the way. As Matt Ward, angel investor, startup advisor, and entrepreneur, explains, “We are a species evolved in an era of scarcity. When granted abundance, most simply increase their expectations of quality and originality — hence Netflix... Any CEO worth their salt realizes self-sufficiency trumps all else, thus Netflix started creating original content (well after their innovation with streaming video) to cut out the producers/royalties. While incredibly expensive in the short term, this strategy would (and will) pa

2 months ago

Bitcoin Miners Navigate A Crypto Minefield

When the Bitcoin (BTC) price crashes, most investors first worry about their portfolio, but their second thoughts likely shift towards the miners. After all, the crypto economy is fueled by mining rewards, and there must be some value attached to the process of verifying transactions in order for the miners to be incentivized to keep the blockchain going. Over this last week, crypto prices have dropped eerily close to turning the value proposition on its head. The BTC price has fallen approximately 80% from its peak, hovering as low as $3,585, and ether (ETH) is still threatening to drop below the $100 threshold, today’s gains notwithstanding. Meanwhile, the hash rate has been slashed nearly in half from its peak, exacerbating an already precarious situation. Hashrates for Bitcoin fell since September. Via TheBlock. Trouble in Paradise It’s the most severe bear market since late 2013, but this time things are different. If the price was all that the miners had to contend with it would be one thing. But today’s miners are navigating a minefield of hash wars, rising electricity prices in unexpected countries and a garage sale for mining machines in China, all of which are pushing them to the brink and causing consolidation in the space, at least in the short term. Norwegian Bitcoin miners were hit with a one-two punch: a precipitous drop in the BTC price and the lifting of subsidies on electricity rates amid environmental concerns. Norwegian environmentalist and member of the Parliament Lars Haltbrekken stated in local reports: Norway cannot continue to provide huge tax incentives for the dirtiest form of cryptographic output as bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally. Crypto Economy Meanwhile, environmentally-friendly proof-of-stake consensus algorithms, through which holders can generate income from their tokens, are rising on the horizon. PoS is expected to take off as one of 2019’s alpha strategies, according to CoinDesk’s Consensus: Invest event that was held this week in New York. At the event, crypto researcher Willy Woo compared crypto to the Wild West, saying: “There’s a lot of land that is undiscovered.” Woo pointed to David Carlson, whose crypto mining company Giga Watt incidentally fell victim to this year’ s bear market. Nonetheless, Woo said, Carlson is a proof-of-work pioneer who has taken the “concept of mining” to the next logical step: “Why just mine coins? Why don’t we mine the next Pixar movie?” As a result, the nascent industry is now exploring ways to deliver mining across new sectors of the economy. In the interim, Civic CEO Vinny Lingham recently gave his prediction for the Bitcoin price, which he expects will remain “range-bound” between $3,000 and $5,000 for the next three-to-six months. If he’s right, miners won’t experience relief any time soon and the best they can do is to seek out cooler climates, like Iceland, where at least they can mine with the wind at their backs. The author is invested in ETH. The post Bitcoin Miners Navigate A Crypto Minefield appeared first on Crypto Briefing.

2 months ago

Shark Tank Star and Crypto Innovator Says Bitcoin and Crypto Bear Market Could Linger for Months

Civic CEO and star of Shark Tank South Africa, Vinny Lingham, is offering his take on the current bear market conditions in the cryptosphere. In a new interview with CNBC, Lingham said he sees Bitcoin hovering in the $3,000 – $5,000 range for at least three to six months, adding, “If we don’t get out […]

2 months ago

BTC/USD Price Analysis: Bitcoin Support at $3,600, Path to $4,500?

After two weeks of incessant sell pressure and analysts giving up on bulls, it seems like BTC/USD sellers are exhausted. Notice that BTC is finding minor support at $3,600 or Nov 25 floors and if today close higher then we might see a temporary recovery towards $4,700. On the flip side and Vinny Lingham projections will be valid. Latest Bitcoin News 10 months after the unfortunate hack that saw $530 million worth of NEM siphoned off from Coincheck, the Japanese exchange is back in operation after reinstating deposits and purchases of XRP and Factom (FCT). This now means users can deposit and withdraw in fiat—Yen and crypto. That’s aside from allowing sign ups. Its lending service is now back in operation though traders won’t leverage their trading neither will they be able to deposit fiat from convenience stores. Read: Report: Blockchain Market to Be Worth over $28 Billion by 2025 As Coincheck gears up, BitMex Insurance Fund now holds 18,851 BTC. According to the exchange, the fund is used to prevent auto-deleveraging traders’ positions and the fund grows from market liquidation executed at a better price than at bankruptcy level. Because of this, online commentators now think this minor Bitcoin accumulation would help shore prices after two weeks of turmoil that saw BTC sink $1,500 hours after the disastrous hash rate war between Bitcoin Cash SV and ABC. Read: CNBC Tech Correspondent: Bitcoin’s Survival Hinges on People Believing in It While it would be the perfect shot in the arm if bulls find a way and bounce above $5,000, market analysts are shying away from bullish comments. While talking to CNBC Fast Money, Vinny Lingham of civic talks of Crypto winter where he projects that Bitcoin prices will be trapped within a tight range between $3,000 and $5,000 till end of Q2 2019. During this time, he says, there will be a lot of short-term buys which will surely help in recovery. BTC/USD Price Analysis Weekly Chart At spot prices, BTC/USD is down 23 percent in the weekly chart and unfortunately for bulls, bears are not slowing down. Though we expect a temporary pullback, the past two weeks draw down has shaken coin holders to the core and with the emergence of a new faction—the sodlers, we could as well see a temporary reprieve offering these sellers another opportunity to unload their stash further fueling this sell frenzy. Unless otherwise there are strong bulls driving price above our minor resistances at $4,700 and maybe $5,000, we shall retain a bearish outlook expecting prices to test $3,000 by the end of the week as price action complement week ending Nov 18 bear breakout pattern. Daily Chart In line with our last BTC/USD price analysis, sellers are clearly in control and as mentioned above, aggressive traders can take every opportunity to unpack their BTC holdings more so if bulls fail to clear the $4,700 mark assuming prices bounce back from spot. After all, they may now that BTC is finding short-term floors at $3,600 or Nov 25 lows. However, if buyers breach and close above $4,700 then we may see a temporary rally towards $5,000 and even to $5,800 as the market sparks back to action. 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. The post BTC/USD Price Analysis: Bitcoin Support at $3,600, Path to $4,500? appeared first on NewsBTC.

2 months ago

BTC Has Plunged Over 80% From Its Highs, but This Bitcoin Crash Is Not the Worst of Its 10-Year History

Bitcoin couldn’t have asked for more of a beating after reaching all-time highs in December 2017 and celebrating its ten-year anniversary this year. After touching $20,000 during last year’s parabolic price rise, Bitcoin’s value has slumped by over 81% in 2018. This is the fourth time that the cryptocurrency has lost over 80% of its value in the past ten years. The last time it happened was in 2013-2015 when the prices fell by 85.4%. Before that, prices fell by as much as 93.8% in 2011 and 94.1% in 2010. Charlie Biello, Director of Research at Pension Partners, recently highlighted this in a tweet: Largest Bitcoin Drawdowns...1) Sep 2010 to Oct 2010: -94.1% ($0.17 to $.01)2) Jun 2011 to Nov 2011: -93.8% ($32 to $1.99)3) Nov 2013 to Jan 2015: -85.4% ($1,166 to $170)4) Apr 2013 to Jul 2013: -76.4% ($266 to $63)5) Dec 2017 to Today: -76.2% ($19,783 to $4,709)$BTC.X — Charlie Bilello (@charliebilello) November 20, 2018 Over $700 Billion Wiped From the Crypto Market With the major slump in crypto prices, the cryptocurrency market has wiped away about $700 billion from its market cap. The “crypto winter” of this year has been more devastating than the previous five corrections in terms of dollars. For the first time in 14 months, Bitcoin went below $3,500 this month but recovered to $3,900 on Monday and currently sits at $3,652 today. This shows a more than 81% decline from its all-time highs. This hasn’t been the worse that Bitcoin has suffered in its 10-year lifespan, but if the market continues moving at this pace, that title wouldn’t be too far away. Bitcoin’s Journey The Last Decade If you are an early Bitcoin investor, you are certainly wealthier than you were in 2010. At that time Bitcoin was trading at a fraction of a penny. By June 2011, the cryptocurrency’s all-time high was about $32, but then it tumbled like a rolling stone, falling 94.1% and reaching $1.99. The volumes were very low, and we didn’t have as many cryptocurrency exchanges as we have today. AT the time, Mt. Gox was still a thing. The eventual fall of the Tokyo-based exchange led to another bear market in 2013. Bitcoin shot up to around $1,166 in November 2013, but within two years, it retraced about 85.4% from the highs and came back to $170. There is a tendency for Bitcoin to reach all-time highs and then go to troubling lows after. However, the cryptocurrency has always managed to emerge stronger, will this crash prove to be the same? The short-term outlook for the rest of the year doesn’t seem impressive for Bitcoin, regardless of its past performance and a strong community. Founder and partner at crypto investment firm Morgan Creek Digital Assets, Anthony Pompliano, is now predicting that the coin will fall 85% from its all-time highs and the next stop for Bitcoin could be $3,000 if his predictions come true. CEO of Civic, Vinny Lingham, also told CNBC that BTC could hover around the $3,000 mark for the next few months. BTC Has Plunged Over 80% From Its Highs, but This Bitcoin Crash Is Not the Worst of Its 10-Year History was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2 months ago

When Will Bitcoin Hit Bottom, Experts Believe its Not Very Far

Bitcoin is trading around $3,700 dropping below $4k support. Now, all eyes are on the support area between $3,500 and $3,000. According to experts and analysts, the bottom is now not that far away. Crypto Winter Worsens, Bitcoin Down over 80% from ATH At $3,730, Bitcoin is currently trading with 24-hour losses of 6.19 percent. With a market cap of $64 billion, the leading cryptocurrency is managing the daily trading volume of $6.5 billion. Bitcoin 24-hours price chart, Source: Coinmarketcap The ongoing crypto winter worsened on the weekend when Bitcoin dropped below $3,500 for the first time since September 2017. At the moment, Bitcoin has plunged about 81 percent from its peak in December last year. David Puell, a crypto enthusiast who does bitcoin and market analysis shared a Twitter thread about Bitcoin bottoming. $BTC: 1/ BAD NEWS: We haven't bottomed yet. GOOD NEWS: The bottom is not that far away. Thread... — David Puell (@kenoshaking) November 27, 2018 Popular crypto trader, Eric Choe shares, Bulls are starting to show some temporary bottom strength. 🙊 Holding the lows currently... 🤔 — Eric Choe (Mr. Swing Trade) (@CryptoChoe) November 27, 2018 Anthony Pompliano of Morgan Creek recently in an interview said, “85% from the all-time high is about where we’ll end up. Puts it around $3,000. Came close over the weekend but probably a little bit more to fall.” He further shares that Bitcoin has been rather overvalued and is seeing a healthy correction now, “Bitcoin was overvalued in December ‘17. There’s more sellers than buyers this year. So the price goes down. But there’s three things you gotta remember. The first is, this is a transaction settlement layer. It’s the most secure in the world. It’s got to be worth something. It can’t be worth zero.” Pompliano says it is the “second is it’s the best performing asset class in the last ten years,” having outperformed Nasdaq, S&P “during the longest bull run.” Moreover, last year’s peak was all retail but now institutions have entered the market that are not buying on exchanges. “(Institutions) are actually buying on the OTC market, which we don’t have great transparency into or insight. So what I think you’re seeing is the washout of these retail investors ” While Civic CEO Vinny Lingham says Bitcoin trading will be range bound between $3k and $5k for about three to six months. However, he also says, “If we do not get out of the crypto sort of bear market cycle in the next three to six months, that $3,000 level could go.” Buying BTC at its current price according to Ligham is too risky as he explains, “I think, the risks right now outweighs the upside in the short term anyway. There will be better opportunities later on. You may have to pay a bit more, but buying in at that level [$5,700] or $6,000 in the future would be obviously higher price, but you will be more de-risked if Bitcoin can get back to that level and make a run back to its previous highs.” The post When Will Bitcoin Hit Bottom, Experts Believe its Not Very Far 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

Analyst Claims Bitcoin to Test $2,970 is Likely in the Short-Term

The cryptocurrency markets have held steady today and have given investors a welcome reprieve from what seems like a constant downturn, with the overall markets trading sideways after experiencing nearly two weeks of consistent price plunges. At the time of writing, Bitcoin is trading down 1.1% at its current price of $3,730, trading choppily over the past 24-hours between a range of approximately $3,640 and $3,800. Bitcoin is currently trading down 43% from its one-month highs of $6,600, and one analyst believes that another short-term downwards move is imminent. While speaking to MarketWatch about the short-term future of the market, Nick Cawley, a markets analyst at Daily FX, said a move to $2,970 is very likely, which could result in a temporary bounce. “After dropping in excess of 40% in the last two weeks, with very little news to drive the move, Bitcoin is trying to build a base around the $3,500 - $3,700 level in the last three days. While the longer-term chart setup remains negative, with a test of $2,970 likely—in the short-term the charts are showing the cryptocurrency heavily in oversold territory, which may produce a relief bounce higher,” he explained, citing the RSI index. Related Reading: Winter Cometh: Bitcoin to Equal Four Year Record Dropping Four Months in a Row Bitcoin Could Sit Under $5,000 for a While As Bitcoin rests near its 2018 lows, some analysts are predicting that it could be months longer before the markets see Bitcoin’s price rise above $5,000. Vinny Lingham, the CEO of blockchain-based identity service, Civic, recently told CNBC that a crypto winter is coming, during which time the cryptocurrency markets will likely be trapped at their relatively low prices. “I think it stays in the range between $3,000 to $5,000 at least for three to six months. I don’t think we break through the support level of $3,000 just yet. I think there is a lot of buying in the short-term around that mark. If we don’t get out of the crypto bear market cycle in the next three or six months, the $3,000 level could go,” Lingham explained. Altcoins Stable Near 2018 Lows Many altcoins are currently sitting just off of their recently-set 2018 lows, with major altcoins staying tied to the price movements of Bitcoin. At the time of writing, XRP is trading down 2% at its current price of $0.35 and is trading down 36% from its one-month highs of approximately $0.55. Despite trading down significantly over the past month, XRP has outperformed Bitcoin and has solidified its lead over ETH as the number two cryptocurrency by market cap. Ethereum has had a rough time over the past month, and many attribute this to the amount of initial coin offering (ICO) projects that are selling off their ETH holdings in order to better secure their finances. At the time of writing, ETH is trading down just over 2% at its current price of $106 and is slightly off if its 2018 low of just under $100. It is unclear whether or not investors are ready to adhere to the old adage of buying while there is blood in the streets, or if further losses are in fact necessary in order for investors to jump back into the markets. Featured image from Shutterstock. The post Analyst Claims Bitcoin to Test $2,970 is Likely in the Short-Term appeared first on NewsBTC.

2 months ago

Vinny Lingham Warns Of ‘At Least’ 3-6 Months Of Bitcoin Price Under $5K

Civic CEO Vinny Lingham forecast the Bitcoin price to remain below $5000 for at least three to six months this week as sentiment throughout the industry takes a beating. $3K Bitcoin Price ‘Could Go’ Speaking in an interview with CNBC November 26, Lingham, whose Civic 00 raised $33 million in an ICO last year but now trades below its original market cap, joined analysts such as Tone Vays in delivering a more bearish mid-term outlook for Bitcoin. “I think it’s going to be range bound for a while between $3000 and $5000, at least three to six months,” he told the network’s Fast Money segment. I don’t think we’ll break through the support level of $3000 just yet - I think there’s a lot of buying in the short term around that mark - but if we don’t get out of the crypto market bear cycle within the next three to six months, that $3000 level could go. BTC/USD 00 had regained some lost ground Monday to approach $4000, only to reverse again to hit current levels around $3670. Altcoins continue to exhibit sharper volatility, with many assets fluctuating around not seen in over a year. Lingham Takes Aim At Block Size The break in what was previously a highly stable period for the Bitcoin price is bad news, Lingham said, arguing that institutional investors - which many sources have tipped to push prices back up in 2019 - will stay away. “If you keep speaking about institutional investors coming to the table and (exchange-traded funds) being approved, you can’t have this sort of volatility in an asset class when you want big money to get involved,” he continued. Continuing on Bitcoin’s future, Lingham appeared to be risk-averse, telling CNBC Bitcoin was “too risky” for him as an investment in its current state and that it had been “typecast” as a store of value rather than a payment method. “The original narrative that I bought into was that this is a payment network that could compete with Visa and MasterCard at scale but... Bitcoin can’t get there because the community has basically blocked a capacity increase from one megabyte upwards,” he said. “There are lots of other cryptos out there that are trying to tackle the payments problem.” Network data has served to contradict the block size limitation theory in recent months, statistics from Blockchain showing the average block size in fact regularly surpassed one megabyte over the past several months. Advances in the Lightning Network, allowing off-chain transactions to markedly increase Bitcoin’s capacity, have also begun spreading to lay-consumers, Bitcoinist reported last week. What do you think about Vinny Lingham’s Bitcoin price forecast? Let us know in the comments below! Images courtesy of Shutterstock, Blockchain.info The post Vinny Lingham Warns Of ‘At Least’ 3-6 Months Of Bitcoin Price Under $5K appeared first on Bitcoinist.com.

2 months ago

Bitcoin Price Watch: Currency’s Price Has Fallen, but Its Dominance Is on the Rise

At press time, the father of cryptocurrency is trading for just under $3,700. This is about $200 less than where it stood on Sunday. The currency continues to suffer from falling prices, though some reports suggest that its dominance is on the rise, likely due in part to the price drops. Now that bitcoin has lost nearly half its value in just a few short weeks, to say it’s “more affordable” would be something of an understatement. Some analysts believe that this is likely attracting the attention of several new institutional investors, who are looking to cash in on crypto while it’s cheap. Chart by InvestingScope Bitcoin experienced lows of approximately 51 percent in early November. Overall, it’s down by about 80 percent from its all-time high of nearly $20,000 last December. This figure, however, doesn’t even compare to the harsh injuries suffered by some of its major competitors. Ripple’s XRP, for example, is down by about 90 percent, while Ethereum has fallen by roughly 92 percent. Bitcoin cash is down by 95 percent since its recent hard fork, and EOS, the fifth-largest cryptocurrency by market cap, is down by about 85 percent. Some industry leaders remain convinced that bitcoin is stuck where it is - at least for a little while, and we’re likely to see the crypto space remain stagnant for some time before recovery begins. One of those figures is Vinny Lingham, the CEO of Civic, who stated in a recent interview: “I think it stays in the range between $3,000 to $5,000 at least for three to six months. I don’t think we break through the support level of $3,000 just yet. I think there is a lot of buying in the short-term around that mark. If we don’t get out of the crypto bear market cycle in the next three to six months, the $3,000 level could go. [Extreme volatility] doesn’t make crypto an investment-grade asset. If you keep speaking about institutional investors coming to the table and an ETF getting approved, you can’t have this sort of volatility in an asset class if you want big money to be involved.” On the other hand, venture capitalist Tim Draper recently reaffirmed his position that bitcoin will reach a price of $250,000 by the year 2022. He believes that bitcoin will eventually come to share the currency market with fiat on a 50-50 basis: “Down the road, when we can easily spend or invest or do whatever we want with cryptocurrencies - they’re frictionless, they cost you less. I mean, just by that alone, just that they cost you less, it’s going to be better for people, and so they’re going to move to crypto, and they’re going to go away from the political currency - they call it fiat.” Bitcoin Charts by TradingView The post Bitcoin Price Watch: Currency’s Price Has Fallen, but Its Dominance Is on the Rise appeared first on NullTX.

2 months ago

Buying Bitcoin Currently Is Too Risky, Could Remain So For The Next Six Months: Expert

‘To be or not to be,’ goes the famous phrase in William Shakespeare’s play, Hamlet. For crypto investors currently, the question is to buy or not to buy. While the current Bitcoin price may seem alluring for some, one expert advises against it, urging investors to wait it out and observe the market first. Vinny Lingham, the CEO, and founder of blockchain identification platform Civic stated that under the current volatile market, the risks are way too many for investors. The opinion is supported by Anthony Pompliano, a partner at Morgan Creek who believes the currency will finish the year at around $3,000. Bitcoin Range Bound Between $3K To $5K Speaking in an interview on CNBC’s Fast Money, Lingham stated that he believes Bitcoin will trade between $3,000 and $5,000 for the next six months. Its performance during this time and the overall market momentum will determine where it goes from there. I think it’s going to be range bound for a while, $3-$5K. At least three to six months. I don’t think we will break through the support level of $3,000 just yet. I think there is a lot of buying in the short term around that mark. But if we don’t get out of the crypto bear market cycle in the next three to six months, that $3,000 level could go. While some analysts such as Fundstrat’s Tom Lee have predicted that Bitcoin could finish the year at $15,000, Lingham believes that this is quite unlikely. He advised investors against investing in the current market as it’s too risky. For me, it’s a bit too risky at its current point. I think the risks right now outweigh the upside in the short term anyway. There’ll be better opportunities later on. You may have to pay a bit more, but buying in above the key support level of $5,700 or $6,000 in the future will be obviously higher price, but you would be more de-risked. Lingham further stated that the volatility in the crypto market is the reason institutional investors have stayed away from the market. However, these investors are what the market needs in order to find more stability, creating the classic chicken and egg conundrum. Lingham’s opinion was supported by Anthony Pompliano, a partner at crypto venture capital firm, Morgan Creek. Pomp, as he is popularly known believes that Bitcoin will finish the year at $3,000, a prediction many crypto investors wish doesn’t come to pass. In an interview on CNBC’s Squawk Box, Pomp said he believes that Bitcoin’s price in December last year was overvalued. At $19,500, Bitcoin had many more buyers than there were sellers, and this automatically pushed the price up. However, this year has seen more seller than the buyers as the price went down and this is gradually revealing Bitcoin’s right value. Pomp however defended Bitcoin, stating that despite the slump this year, it’s still up by 400 percent. It is the best performing asset class of the last ten years and has outperformed all the other assets, stocks included. The post Buying Bitcoin Currently Is Too Risky, Could Remain So For The Next Six Months: Expert appeared first on NullTX.

2 months ago

Malaysian Crypto Issuers Must Get Central Bank Approval

Any party that intends to issue cryptocurrency in Malaysia should get approval from Bank Negara Malaysia (BNM), the Asian country’s central bank. This stance of the Malaysian Finance Minister, Lim Guan Eng, was reported by New Straits Times, a local English language news platform. The Finance Minister said so when a Malaysian Parliament member, Dr Tan Yee Kew posed a question on the methods being used to ensure the protection of the local currency and the financial system as a whole from the effects of cryptocurrencies. There is also a project that is looking into launching a Malaysian centrally banked cryptocurrency, called the Harapan Coin. The Harapan Coin is yet to be shown to the central bank or the Prime Minister, Dr Mahathir Mohamad. The coin has received mix responses, with one Parliament member suggesting that the government should implement proper cryptocurrency-related regulations before venturing into the space itself. Dr Tan was of the opinion that cryptocurrencies should not be opposed, but these should be working under a decided frame of laws and regulations to ensure no adverse effect on the financial system of the nation” “I advise all parties wishing to introduce Bitcoin (like) cryptocurrency to refer first to Bank Negara Malaysia as it is the authority that will issue the decision on financial mechanism. It is not that we wish to obstruct [cryptocurrency] as we are keeping an open mind. But it is still subject to existing laws. Do not try to do something without guidelines from Bank Negara and commit something against the law.” Although the government is taking the crypto revolution slowly to ensure no hasty decisions are made, it has come under fire for Harapan Coin, with many civic and political leaders criticizing the digital currency. One such group, the Centre for a Better Tomorrow (Cenbet), said that the government seems too eager to start off “trendy but untested schemes”. 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: pexels.com The post Malaysian Crypto Issuers Must Get Central Bank Approval appeared first on BitcoinNews.com.

2 months ago

Civic CEO: Bitcoin to Trade Range-Bound for ‘Three to Six Months’

Civic CEO Vinny Lingham has predicted that the Bitcoin price could remain range-bound for several months between $3–5K

2 months ago

Civic Chief Vinny Lingham Says BTC Could Be Range Bound for Months

Civic CEO Vinny Lingham said on CNBC that Bitcoin will remain “range bound for a while, between $3,000-$5,000” for “at least three-to-six months.” If the bear market persists beyond three-to-six months, the BTC price could slip below $3,000 support. He admits that the crypto community disagrees with his belief that the market should trade on fundamentals and not speculation. He said: “You can’t have this sort of volatility in an asset class when you want big money to get involved.” Lingham also believes the downturn in the Bitcoin price has slowed development down. The BTC price is currently trading at $3,710, down 8%. (GT)

2 months ago

CyberVein is celebrating its first year! Want to learn more ...

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2 months ago

@ThickandButtery @civickey Civic is doing great work. Identi...

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2 months ago


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