Civic CVC

$0.0506
Market Cap $ 17.349 MM (#136)
24h Volume $ 691.509 K
Chg. 24h: -15.69%
Algo. score 3.9/5  (#64)
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Civic News

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.

4 days 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.

6 days 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.

6 days 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.

7 days 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.

8 days 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

8 days 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.

8 days 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 […]

8 days 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.

9 days 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.

9 days 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.

9 days ago

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

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

9 days 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.

9 days 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.

9 days 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.

9 days 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.

9 days 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.

10 days 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

10 days 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)

10 days ago

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

@ThickandButtery @civickey Civic is doing great work. Identity management is such an important topic, the more plat… https://t.co/DzbrA2isfX

14 days ago

BitSafe

Looking for new Exclusive Airdrop? We are excited to bring you the new BitSafe Exclusive Airdrop! About BitSafe BitSafe aims to provide cryptocurrency users an easy to use payment system, a payment method that will be familiar from traditional banking and modern payment apps. Not only focusing on consumers, also for businesses will it be easier to accept cryptocurrency payments for goods and services online and in store. Dean Nolan (CEO BitSafe) has worked in the Bitcoin and cryptocurrency industry since 2012 and is the CEO of one of the first Bitcoin betting websites, BetKing.io, launched in 2013. KYC update KYC is ging to play a bigger role in the near future for crypto & airdrops. KYC once with AirdropAlert's partner Civic and you will be elibile for all the exlcusive airdrop campaigns we host. You will also be KYC'd for every project that uses Civic KYC, which makes it convient for your crypto experience. Did you already complete KYC with Civic before? Simple scan the QR code for KYC and you are done! Did you complete KYC with AirdropAlert.com before? Log into your dashboard to check if you are KYC approaved. If that is a Yes, then you are all good! Airdrop Form If you click on the ''CLAIM AIRDROP'' button below to claim the BitSafe Excluisve Airdrop, it wil bring you to the Airdrop Form.

21 days ago

Willy Woo: ‘Bitcoin is balancing, I’m curious to see where everyone is at on the eve of the next breakout’

Willy Woo, an early Bitcoin investor, and popular cryptocurrency personality have reaffirmed his stance on where Bitcoin is headed in the nearest further. The investor has joined a few other analysts to reveal that although the bearish market may be in total control at the moment, Bitcoin is gathering enough momentum to enable it to attain a massive breakout. He made this known after a twitter poll which was recently conducted resulted in around 30% of individuals agreed that Bitcoin is soon to hit rock bottom, while 40% believed the market is undergoing a bearish crisis and the 30% remained undecided. Woo disclosed his stance in a tweet, saying : So 30% think the bottom is in, 40% think more bear, and 30% are undecided. People asked what I think. To me, nothing has really changed, apart from some sideways nail biting. Woo explained that Bitcoin’s network momentum still needs to climb further, in order to put a bottom to the bear market. He continued : BTC balancing, balancing, next more will be defining. Super curious to see where everyone is at on the eve of the next breakout... In agreement with Woo’s beliefs, Vinny Lingham, Ceo of Civic Key retweeted Woo’s post with a tag “I concur”. This is quite an interesting development, considering the fact that Lingham had recently engaged in a Bitcoin bet with cryptocurrency trader Ronnie Moas. In late October, the two rounded up the World crypto con in Las Vegas as Moas staked $20,000, predicting that Bitcoin is certain to hit $28,000 as a roundup price in 2019. Lingham who stood at the other end of the spectrum was quick to accept the challenge saying “I can’t lose”. Although Lingham is not Anti-Bitcoin, his response suggests that Bitcoin is in its early infancy and has not wielded enough momentum to skyrocket that far. He concluded by saying “If BTC goes that high, happy to pay it”. The post Willy Woo: ‘Bitcoin is balancing, I’m curious to see where everyone is at on the eve of the next breakout’ appeared first on ZyCrypto.

22 days ago

What Will a Financial Crisis Mean For The Cryptocurrency Market?

The founder and leader of the world’s biggest asset management firm thinks a global financial crisis is on the horizon. Larry Fink and BlackRock manage over 6 trillion dollars in assets and he thinks the rising US debt along a combination of climbing interest rates and inflation could spell disaster in the near future. Fink spoke at the Bloomberg New Economy Forum in Singapore and said that the great growth the stock market has experienced could soon slow down and cause a ripple of economic issues. “If the economy does slip because of trade imbalances or trade problems, we (could) see less growth. The problem is the deficit is very large and we’re fighting with our creditors worldwide. Generally, when you fight with your banker, it’s not a good outcome.” Interest rates were among his chief concerns. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” according to the BlackRock CEO. A lot of experts both inside and outside of the cryptocurrency sector think a crash could devalue the American dollar and lower its purchasing power. If the dollar takes a hit, the public will be increasingly in search of alternative ways to invest and save. CEO of the cryptocurrency exchange ShapeShift, Erik Voorhees has alluded that a financial crisis will send a rush of investors to the crypto space. “When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Vorhees is not the only expert that thinks money will soon be pouring into the cryptocurrency sector. Vinny Lingham, founder, and CEO of Civic, the global blockchain ID platform tweeted that the space will have huge amounts of money flowing in soon. “More wealth will be created in crypto over the next 10 years, than over the prior 10 years. But remember, like any success story, it’s not going to be a straight line up. Keep believing and just be patient.” This tweet from @Nicholas_Merten, a popular crypto YouTuber was liked by Roger Ver and perhaps gives us a view of what Ver sees coming in the next 10 years. “From what I can analyze, crypto will have four major super cycles: Silk Road (2011-2013) Retail Speculation (2016-2017) Institutional Speculation (2019-2020) Crypto Replaces Fiat (2020-2030)” Of course, those who are already deeply invested in the cryptocurrency world will tell their followers that the space will be flourished with new money; but, when attached to a worldwide financial crisis, the proposition becomes much more frightening. The post What Will a Financial Crisis Mean For The Cryptocurrency Market? appeared first on ZyCrypto.

a month ago

African Citizens Continues Massive Adaptation Of Cryptocurrency Despite Tax And Regulatory Issues

It is interesting to note that despite the fact that cryptocurrencies were conceived far away from the African continent, it is rapidly following in the footsteps of Europe’s Malta to become home for a handful of cryptocurrency exchanges, wallets, and tokens in their numbers. Uganda Exchange giant Binance who just launched a fiat-crypto exchange in the heart of Uganda has recently registered over 40,000 users in just a few months of its arrival. Prior to this development, 70% of Ugandan citizens were unbanked due to the rigorous process required to enable them to get registered. Excited Ugandans like Jarau Moses has repeatedly thanked the exchange for creating ease and swiftness in the system of transactions. South Africa While the 2014 South African Reserve Bank (SARB) whitepaper hinders cryptocurrencies to be considered as valid legal tenders, a recent research has shown a spike in the demand for cryptocurrency precisely Bitcoin) amongst South African citizens as more and more individuals continue to invest in digital currency. While likes of Vinny Lingham, founder of Civic coin has introduced citizens to the possible breakthrough of Blockchain and cryptocurrencies, Kenya Earlier in the year, Kenya’s Treasury Secretary Henry Rotich was given a two weeks ultimatum to decide on the regulation of cryptocurrency. Currently, there’s been no update of the Treasury’s decision, the secretary made sure to note that cryptocurrency activities have been on the rise under his nose, he also noted the value of cryptocurrency as an innovation. Following this disclosure, Sureremit, an unregulated exchange has raised $7 million through ICOs in the first half of 2018 along with a few Bitcoin ATM Machines launching in the country. Independent individuals like a “roasted meat” trader has revealed that he runs his small business through Bitcoin transactions. Counties like Djibouti, Zimbabwe and South Africa has recently launched Bitcoin ATMs. Although Nigeria’s central bank is yet to regulate cryptocurrencies, exchanges like Luno have recorded an impressive user base in terms of investment and cryptocurrency trading. The post African Citizens Continues Massive Adaptation Of Cryptocurrency Despite Tax And Regulatory Issues appeared first on ZyCrypto.

a month ago

Vinny Lingham Expects Greater Wealth Creation in Crypto in the Coming Decade vs. the First 10 Years

Vinny Lingham, who is the CEO of blockchain startup Civic, may not have a bullish bet for market prices in the short term but he is a long-term bull. Lingham believes that “more wealth will be created in crypto over the next 10 years than over the prior 10 years.” In a tweet, he urged the crypto community to remain patient, saying “it’s not going to be a straight line up.” Lingham recently took the bearish side of a bet with Standpoint Research’s Ronnie Moas that the BTC price will hit $28,000 by year-end 2019. If it does, Lingham is on the hook for $20,000 (GT)

a month ago

Bitcoin (BTC) Seems Primed For A Christmas Surprise

Bitcoin (BTC) has practically done nothing for the past few weeks. Recently, Vinny Lingham, the founder of Civic made a $20,000 bet that the price of Bitcoin (TBC) would not rise above $28,000 before 2020. This is a really bold statement coming from a Bitcoin (BTC) maximalist. The number of people who are still optimistic regarding a long term rise in the value of BTC/USD still remains very high. However, the fact remains that after every market cycle, the rate of growth reduces. The price cannot climb as aggressively as it has in the past. However, to think that Bitcoin (BTC) may not be able to climb above $28,000 in all of 2019 is equally hard to believe. Even if we consider that Bitcoin (BTC)’s rate of growth has reduced by half, it would still make it very possible for the price to reach somewhere above $50,000 by the end of 2019. Perhaps Vinny Lingham does not seem to believe that cryptocurrency market cycles also go through halvening. If we consider this to be the end of the correction, then it would be absolutely clear that market cycles have halved. So, if the previous cycle was 4 years long, then this cycle would take 2 years i.e. 2018 to 2020. Even if one does not believe that the correction is over yet, it is still very irresponsible to be making a bet that Bitcoin (BTC) cannot reach $28,000 before 2020. The only way that could happen is if Bitcoin (BTC) were to enter another correction. Apparently, a lot of investors and analysts still believe that Bitcoin (BTC) could follow a 2014 styled correction. Put simply, this means that the current correction will be followed by another correction, one that would see it break market structure. If we consider that Bitcoin (BTC) market cycles have halved, then we would be assuming that the extended correction has already taken place. However, if we were to assume that a 2014 styled scenario is to unfold without taking into account the effect of halving market cycles, then one would assume that the correction could last another year i.e. throughout 2019. In that case, the price would have to fall well below the $5,800 support. Apparently, most people with this view also think that the stock market is about to take a deep dive and all emerging markets are going to fall with it. While it is true that emerging markets are going to be hit badly if the stock market is to nosedive today, but the fact remains that the stock market is not ready for that yet. To think that the cryptocurrency market is going to underperform just because the stock market is overbought is a very dangerous assumption. There are still very optimistic predictions in the market that have not been retracted yet. Tim Draper and Tom Lee have both made very bullish predictions and both of them enjoy good reputation when it comes to predictions. However, recently, Arthur Hayes of Bitmex retracted his $50,000 prediction for BTC/USD and now Vinny Lingham has come out saying Bitcoin (BTC) may not rise above $28,000 before 2020. The price may take its time to recover, but we believe that Bitcoin (BTC) is primed for a Christmas surprise this year. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Bitcoin (BTC) Seems Primed For A Christmas Surprise appeared first on Crypto Daily™.

a month ago

Civic CEO Vinny Lingham and Director of Standpoint Research Ronnie Moas Bet Over Bitcoin

The recently concluded World Crypto Con, held in Las Vegas, brought together thousands of attendees, over 100 exhibitors, and 75+ influential speakers. Among them were crypto pundits such as Litecoin Project creator Charlie Lee, Civic CEO Vinny Lingham, as well as founder and director of Standpoint Research Ronnie Moas. While speaking at the conference, Moas discussed his predictions on Bitcoin (BTC)’s performance in the upcoming years. According to Moas, “$50,000 is for 2020. $100,000 would be in the next halving, which may be in 2023 or 2024… And $28,000 is my target for the end of next year (2019).” Lingham responded to Moas’ bullish sentiment with skepticism. In the end, Lingham and Moas made a friendly bet which will see either Moas or Lingham part with $20000.(VK)

a month ago

Civic CEO Bets That Bitcoin (BTC) Won’t Hit $28,000 By 2020

Vinny Lingham & Ronnie Moas Bet Over Bitcoin World Crypto Con, which calls itself the “first experiential conference for the cryptocurrency and blockchain space,” saw some of this industry’s foremost commentators, insiders, investors, long-time Bitcoin bulls and consumers attend its multi-day event in Las Vegas, Among the pundits in attendance was Vinny Lingham, Ronnie Moas, Maxine Ryan, and Charlie Lee, the latter of which is the creator of the Litecoin Project. During the event, which reportedly drew thousands of attendees, 100+ exhibitors, and over 75 influential speakers, the aforementioned quartet took to the main stage to participate in a live episode of the Bad Crypto Podcast. While on-air, Moas, the founder and director of Standpoint Research, chimed in, discussing his predictions for the performance of Bitcoin (BTC) in upcoming years — a widely contested and controversial topic/point of discussion in the community. Moas, who hasn’t shirked away from consulting with his crypto crystal ball in the past, stated: “$50,000 is for 2020. $100,000 would be in the next halving, which may be in 2023 or 2024... And $28,000 is my target for the end of next year (2019).” Responding to Moas’ unbridled bullish sentiment, Vinny Lingham responded with skepticism by first claiming that he “tried to prevent this bubble.” clearly highlighting his sentiment that crypto’s run-up and the subsequent crash may have been detrimental for this nascent industry. Bringing credence to his more-bearish-than-bullish claim, which may have irked a few event attendees, Civic CEO Lingham noted: “People actually thought that there was a paradigm shift. I was sarcastically tweeting in December — “oh guys this is a paradigm shift.” What do you expect people to think?... I think that this is going to be a long and cold winter... The bigger the party, the bigger the hangover.” The representative of Civic added that 2018’s bear market “isn’t even winter... it’s fall,” subsequently noting that it is unlikely for BTC to surpass $28,000 because “it doesn’t work that way.” Moas, rebutting this anti-bull sentiment, first likened crypto to the Internet pre-Netscape before pointing out that there could be a “watershed moment” for this industry that will drive adoption through the work. After some further light banter, which hopefully didn’t create any bad blood, the two were prompted to make a friendly bet. As revealed in a press release, if Bitcoin (BTC) doesn’t hit $28,000 on a “reputable exchange” come December 31st, 2019, Moas will need to donate $20,000 U.S. dollars to FreeRoss.org, a consortium working towards a stronger legal case for Ross Ulbricht, who was sentenced to life in prison for his involvement with Silk Road. If BTC hits $28,000 in the aforementioned time frame, however, Lingham will owe FreeRoss $20,000 out of his own pocket. Following his appearance on stage, Ronnie took to Twitter to express his excitement for the somewhat playful bet, restating the terms of the agreement in front of his 45,000 Twitter followers. Live from #LasVegas ... this was a blast ... I bet Vinny Lingham $20,000 that $BTC will hit $28,000 by the end of 2019 | Money goes to charity ... @badcrypto @MaxieRyan @VinnyLingham @SatoshiLite @teedubya @joelcomm @RonnieMoas @WorldCryptoCon https://t.co/xeIv0eQ2CP — Ronnie Moas (@RonnieMoas) November 3, 2018 Tommy Mustache, a self-proclaimed “crypto addict,” responded to Moas’ tweet by noting that post-bubble markets take a minimum of 2.5 years to recover, with crypto reportedly being “no exception.” And as such, Mustache and Lingham, who corroborated his claim, explained that the crypto market is unlikely to see a resurgence until 2020, if not later. Regardless, the aforementioned Standpoint Research founder remained steadfast, claiming that if a watershed moment occurs — think Bitcoin ETF approval, adoption of Bakkt physically-backed BTC futures, etc. — “the 2.5-year figure gets thrown out the window.” Title Image Courtesy of Carl Raw on Unsplash The post Civic CEO Bets That Bitcoin (BTC) Won’t Hit $28,000 By 2020 appeared first on Ethereum World News.

a month ago

Civic CEO Bets Ronnie Moas Bitcoin Won’t Hit $28,000 by 2019

The co-founder and CEO of Civic has bet Ronnie Moas that Bitcoin won’t hit $28,000 by the end of 2019 on a “reputable exchange.” The loser will donate $20,000 to the charity FreeRoss.org. Will It or Won’t It? Bitcoin bull Moas, founder and director of Standpoint Research, took Vinny Lingham up on his bet on the last day of World Crypto Con in Las Vegas. As the first-ever World Crypto Con, the event attracted thousands of attendees, more than 100 exhibitors, and over 75 speakers. Some names present included Charlie Lee, founder of Litecoin; Charlie Shrem; and Brock Pierce. And what better way to end the conference in Sin City, famous for its 24-hour casinos, than with a bet? The bet was a surprise that was aired during the live BAD Crypto Podcast on stage. Joel Comm, co-host of the Bad Crypto Podcast, said of the bet: The event is a place where thought leaders actually put their money in their mouths, or rather where their mouth is. It’s going to be extra-fun keeping track of the price of Bitcoin over the next year, to see if Vinny or Ronnie has to pay up! No matter how it sorts out, we’re all just excited that ultimately it benefits FreeRoss.org. The $20,000 will go toward providing legal assistance to Ross Ulbricht for his role in Silk Road. Price predictions are nothing new for Bitcoin. Numbers already mentioned range from $125,000 to $1 million for the crypto asset. However, only time will tell who ends up being right. Yet, this is probably the first time that a Bitcoin price prediction has been done with a charitable purpose in mind. In this instance, though, regardless of who wins or loses, money will be donated to charity. Ross Ulbricht Best known for creating and running Silk Road, Ulbricht ran the website from 2011 until his arrest in 2013. The FreeRoss website states that he serving a double life sentence plus 40 years without parole for “non-violent charges.” It goes on to state that the double life sentence was handed down by Judge Katherine Forrest, who was “restrained by law from issuing the death penalty.” However, compared to the sentences of other Silk Road defendants, and considering Ulbricht had no criminal history, those behind Ulbricht are of the opinion that he got a raw deal. It’s a complicated case, and one that will continue until the alleged injustice is brought to rights. What do you think of the Silk Road case? Do you think Ulbricht will be freed? Let us know in the comments below. Images courtesy of Shutterstock. The post Civic CEO Bets Ronnie Moas Bitcoin Won’t Hit $28,000 by 2019 appeared first on Live Bitcoin News.

a month ago

BTC Price Won’t Hit $28K By 2020 - Vinny Lingham Bets Ronnie Moas

As Bitcoin continues to trade in a rather narrow range, industry experts Vinny Lingham and Ronnie Moas stand on both sides of a $20,000 charity bet that BTC price won’t hit $28,000 by the end of 2019. “The Bigger The Party - The Bigger The Hangover” Speaking at the stage of World Crypto Con held in Las Vegas, Vinny Lingham, co-founder and CEO of Civic 00, and Ronnie Moas, founder and director of Standpoint Research, expressed their thoughts on the current and future state of the cryptocurrency market and its forerunner Bitcoin. Moas and Lingham shook on a $20,000 bet on the price of Bitcoin 00 by the end of 2019. Regardless of who wins, the money will be donated to the Free Ross charity - a group of supporters who work to provide legal assistance to Ross Ulbricht in the popular Silk Road case. Moas holds that the demand for Bitcoin is only going to grow stronger while the supply will be reduced and, eventually, limited. Hence, he thinks that BTC price is going to go up to $28,000 in 2019 and all the way up to $50,000 by the end of 2020. It’s also worth noting that prominent investor and owner of Galaxy Digital Mike Novogratz recently said that he thinks Bitcoin will reach $20,000 by the end of 2019. Vinny Lingham, on the other hand, has a different view on the market. According to him, companies in the cryptocurrency space are not profitable and they have to sell their digital currencies in order to pay up for expenses. He believes that there’s not enough money coming into the market and that the balance will eventually break down, causing the prices to go lower. He also noted that “the bigger the party - the bigger the hangover” and that we’ve had one “pretty big” party at the end of 2018. BTC Price is Boring...For Now Bitcoin’s current performance is far from exciting, however, with many months to go before the bet closes. While BTC 00 has marked slight gains throughout the last 24 hours, the past few months have seen record low volatility. Despite the fact that the cryptocurrency is stagnating in its most boring range since the beginning of 2017, Bitcoinist reported yesterday that indicators suggest that buyers are accumulating and that there are plenty of evidence that we might have bottomed out. What do you think of the bet between Lingham and Moas? Where do you see Bitcoin at the end of 2019? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock, Bitcoinist archives The post BTC Price Won’t Hit $28K By 2020 - Vinny Lingham Bets Ronnie Moas appeared first on Bitcoinist.com.

a month ago

Crypto Researcher Ronnie Moas Bets Vinny Lingham That BTC Price Will Hit $28,000 by Year-End 2019

Ronnie Moas, who is the founder of equity and crypto research firm Standpoint Research, has bet blockchain pioneer Vinny Lingham $20,000 that the Bitcoin price will "hit $28,000" by year-end 2019. The wager is for a good cause, as the funds will go toward charity. Lingham, who is at the helm of blockchain-fueled ID security startup Civic, is on the bearish side of the bet and tweeted: "I can’t lose...if BTC goes that high, happy to pay it." The BTC price is currently trading below $6,400. (GT)

a month ago

Crypto Investment Firms Advise Buying Smaller Cap Altcoins During Bear Market

Investing in altcoins is less risky than Bitcoin during a bear market, according to crypto investment firms. New Wave Capital told Yahoo that the altcoins with smaller capitalization have tremendous long-term potential. Bitcoin, according to the San Francisco startup, could have more baggage to carry during the next bull run. Traders might feel confident about spreading their portfolio in assets with the most practical long-term goals in mind. However, the company agreed that Bitcoin is still the most resilient asset during a bear market. “In a bear market, everyone moves away from altcoins, and they go back to what has been traditionally more resilient, which is bitcoin,” said CEO Eric Campbell. “They think it’s a safer asset. But when we come back to another bull market in the future, we think people will go back to altcoins.” New Wave currently features a diverse range of altcoins in its investment portfolio, including Etherum, XRP, Bitcoin Cash, Civic, and Litecoin. The list gets assessed every quarter based on a risk survey and algorithm. Strong Use Cases While Bitcoin undoubtedly remains the king of cryptos, several altcoin projects have emerged as alternatives to the first digital currency’s technical limitation. Ethereum, for instance, serves the purpose of creating and launching decentralized apps and smart contracts on the top of a public blockchain. Monero, at the same time, offers users with full privacy, something that Bitcoin provides but partially. Nevertheless, Bitcoin is among the least affected cryptocurrencies during this year’s bearish sentiment. The coin has lost 54 percent of its value compared to its closest alternatives. Ethereum, again, for instance, has dropped 74 percent against the US Dollar this year. XRP is also down 78 percent, alongside Bitcoin Cash and Litecoin with their 82 and 78 percent losses, respectively. Combined Altcoins Market Cap | Source: CoinMarketCap.com Regardless of their weak yearly performances, these projects serve long-term goals related to blockchain’s integration into mainstream industries. Analysts rest their bullish perspectives about altcoins on a fundamental demand and supply theory. Against a limited supply, the demand for these fractionable value units is likely to go up. XRP, for instance, is proving itself to be a digital currency for cross-border transactions. It is the coin’s basic use case which, upon more adoption, could yield profits in the long run. New Wave’s co-founder Albert Cheng thinks it is the prime reason why their advisory firm is looking into more Bitcoin alternatives. “When a market is bearish, there’s a flight to quality, and that’s bitcoin today,” he told Yahoo. “But our service is intended to drive long-term thinking. And if people are holding their portfolios for a long time, I think it’s prudent to have exposure to multiple coins. True paradigm shifts take a long time.” Image from Shutterstock The post Crypto Investment Firms Advise Buying Smaller Cap Altcoins During Bear Market appeared first on NewsBTC.

a month ago

Civic Joins Partnership With BlackRock-Backed Telecom Giant to Reach Millions of Mobile Users

Civic, a blockchain-based identity verification technology, has announced a new partnership with Rivetz, a decentralized hardware-based cybersecurity firm. Civic joins Rivetz in their partnership with Eleven Paths, the cybersecurity unit of Telefónica, one of the largest telephone operators and mobile network providers in the world. The partnership will offer next-generation, secure-identity...

a month ago

Blockchain-Fueled Dental Startup Dentacoin Sees Double-Digit Gains as Market Turns Positive

The leading cryptocurrencies have turned positive, but Dentacoin (DCN) is one of only a handful to be up double-digits. DCN, which has a market cap of $85 million, has added 20% to its value in the last 24 hours to $0.000262 on modest trading volume. Dentacoin is a “blockchain solution for the global dental industry," and they recently partnered with blockchain-powered ID security startup Civic. Dentacoin is the first use case for Civic Connect’s secure ID technology that’s an alternative to Facebook and Google for identity verification. Civic CEO Vinny Lingham retweeted a congratulatory message to Dentacoin for being one of the top-performing cryptocurrencies since adding Civic Connect. Meanwhile, Civic (CVC) coin is up 2%. (GT)

a month ago

Civic Joins Rivetz, ElevenPaths Partnership to Provide Blockchain-Powered Identity Verification Solutions

Blockchain identity startup Civic has joined a partnership previously formed between crypto cybersecurity company Rivetz and Telefónica’s cybersecurity unit ElevenPaths to deliver blockchain-powered identity solutions to mobile users. Civic is an identity protection and management startup founded in 2015 by South African Internet entrepreneur Vinny Lingham. The company raised US$33 million in...

a month ago

Telefónica and Rivetz Add Civic’s Identity Verification for Mobile Users

Civic has entered into a tripartite agreement with cybersecurity protection solution company, Rivetz, and Telefónica's cybersecurity unit, ElevenPaths, to provide secure identity verification that incorporates added hardware protections for mobile users.With presence in five countries, Civic uses blockchain technology to secure and protect the transfer of personal information, while allowing people to decide how they share their information.In correspondence with Bitcoin Magazine, Steven Sprague, CEO of Rivetz, called Civic's integration into the partnership as a "pivotal step toward providing the digital identity we need in today’s world."In May 2018, Spanish telecom giant Telefónica partnered with Rivetz to develop decentralized security solutions for mobile users aimed at improving cybersecurity controls and protections for secure messaging and cryptocurrency wallets.Rivetz's security solutions will leverage the Trusted Execution Environment (TEE), a hardware vault built into mobile phones for enhanced security. These solutions will be built into smartphones and supplemented with a secured Subscriber Identity Module (SIM), provided by Telefónica. The intention is to secure the private keys of users, even if the operating system is tampered with or infected by malware.Civic's inclusion will make it possible for Telefónica's users to verify their identity in real time and separate locally stored personal information from the private key needed to sign transactions on the blockchain. Rather than having all details stored locally in one place, on the Civic App, Civic will store the private keys in the TEE, provided by Rivetz. The user's personal information will remain in the Civic App, which is protected by biometrics and high-level encryption. CEO and Co-Founder of Civic Vinny Lingham sees the partnership as “a massive step.” “Blockchain technology is transforming the way companies approach privacy and security,” he said to Bitcoin Magazine. “Our partnership with Rivetz and Telefónica is a reflection of that transformation, ensuring that digital identity and mobile security solutions go hand-in-hand.”Lingham added, “As identity information is increasingly vulnerable, we’re working with like-minded companies to create the most effective, most secure identity solutions that protect people’s privacy, without requiring their data to be collected and stored.” This article originally appeared on Bitcoin Magazine.

a month ago

5 Ways Governments Will Grow To Rely On Blockchain

Blockchain’s organizational power is vast and nowhere is it more applicable than in communities of disparate people. With decentralized technology encouraging better collaboration, transparent communication, and accountability, the question remains how practical blockchain can be to a traditionally centralized public sector. Blockchain was first conceived and perfected in the hands of enthusiasts and businessmen who have since tested it by applying these advantages to finance and eCommerce, for example. However, the young industry is slowing moving towards its biggest test yet. The debut of blockchain in government will demonstrate its potential to a greater degree than in any other area, and it only takes a short look at some examples being designed today to understand why. Driving Citizen Participation in Government Blockchain is safer and more authoritative for providing and authenticating individual identities online due to its cryptographically secure public and private key system. The model verifies wallet addresses between Bitcoin transactions, but someone’s ID can also be a unique value in any blockchain. Moscow has already registered its residents on the blockchain this way, assigning each individual a secure blockchain ID that they can use to vote on municipal issues. Called the Active Citizen project, Moscow residents are using the blockchain to determine the best names for streets, which neighborhoods need a playground, and other issues that require a community voice. Optimize Energy Distribution The collection and dissemination of energy, as well as the maintenance of the energy grid, are some of the most vital public concerns. If blockchain is capable of creating a more sustainable decentralized model for finance, it’s only logical that the same idea applies to better energy distribution between people as well. Governments are now working with blockchain innovators such as Eloncity, a company that has built a blockchain-based marketplace of energy between people. The startup’s chain organizes a network of homes and businesses with solar installations and smart batteries, who can each share and trade in the energy they collect between them. Member homes in an Eloncity self-sufficient micro-grid can tap into the shared source of local power between others in their network and always have the most transparent and accurate prices. Energy is denominated in ESS tokens that are also rewarded for contributing power. Such a cost-effective solution will increase the scalability of renewable energy solutions and reduce the financial drain of energy delivery on the state. Public Services Registering a new business with the correct jurisdiction, opening a foundation or non-profit, and renewing your passport or driver’s license are just a few of the many tedious tasks that governments must help their citizens handle. Projects like SelfKey and Civic have already assumed that the blockchain identification idea described previously—sometimes referred to as self-sovereign identification—is the future. Accordingly, they’re building an infrastructure for public services that will be offered to verified residents on the blockchain. Imagine SelfKey as a digital Secretary of State, where a resident can go get things notarized, register their vehicles, change their addresses, get set up with trash collection services and more. Reduce the Burden of Tax Collection Though taxes are designed to reimburse governments for providing services and opportunity to their citizens, collecting them is a significant expenditure for the government. Most of this cost is due to the difficulty inherent in tracking which transactions are relevant to which taxes, especially when errors and intentional fraud happen so often. Blockchain’s provenance and transparency of transactions make fraud less probable and much more visible, which helps lighten the load for entities like the Internal Revenue Service. The IRS must deal with issues like VAT fraud, which happens when people exploit the way that multi-jurisdictional trading works. When financial transactions by businesses and individuals are accomplished on (or connected with) blockchains routinely, the decentralized ledger will make it easier to track payments and goods between tax jurisdictions and accounts. Delivery of Social Welfare Welfare programs are important to consider for any government, and chief among their relevant concerns is how to reach the socially disconnected and destitute in a cost-efficient manner. Programs that provide free vaccinations and other medical care are non-profit by design, but that also means every penny of overhead cuts into the services offered to needy people. Blockchain can decimate the budget required to send out food stamps, for example, simply by giving a homeless person the ability to type in a private key instead of collecting printed stamps—which carry a whole array of other costs and risks. Blockchain simply makes it easier for an

a month ago

What Will Bitcoin Be Worth In 5 Years Time?

The digital currency market is currently in a tight range and is unable to gain fast momentum. Despite this, the Bitcoin bulls have an optimistic view for the future of the coin. A famous crypto enthusiast and venture capital billionaire, Tim Draper retains his earlier forecast that the virtual asset will cost around a quarter of a million dollars by 2022. Talking at the Crypto Invest Summit in LA, Draper discussed his forecast is based on Bitcoin not being as politicised as traditional currency which is backed by a government body. At the Summit, Draper said: “So right now, there’s $86 trillion of political currency. They call it ‘fiat’ currency, but it’s political. And I believe that that currency will slowly be eaten up by a better currency which is global, decentralized, frictionless. It’s just a better currency. Bitcoin’s a better currency. And I think Bitcoin will be one of five cryptocurrencies.” Digital currencies and the underlying blockchain technology has a really influential power which could change the way governments work and interact with communities. According to Draper: “I think that government can be transformed in this big, huge way. Which is, you put all those technologies together. You have a token that’s global and decentralized. The token is now on a perfect ledger called the blockchain so you don’t require all this special accounting because the accounting is already done.” Draper also praised the automation which comes with a smart contract technology as it will help decrease red tape and corruption as everything that is supposed to happen based on smart contract conditions, will happen. Big data analytics and AI functionality will eventually replace the whole system. As reported by FXSTREET, they have said that “Considering that now BTC/USD is trading at $6,400, Draper’s forecast implies nearly 4,000% increase in 4 years time.” However, despite the figures looking good, Draper isn’t the only one with such an extreme prediction. The co-founder of Civic and a member of the Bitcoin Foundation believes that $1 million for one Bitcoin a realistic price prediction for the distant future. In fact, the Winklevoss twins have got a $320,000 bet on for a 10-20 year time span for the price of Bitcoin to surge. What are your thoughts? Let us know what you think down in the comments below! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post What Will Bitcoin Be Worth In 5 Years Time? appeared first on Crypto Daily™.

a month ago

🔐SludgeFeed: "Civic notes that the first use case comes via ...

🔐SludgeFeed: "Civic notes that the first use case comes via DCN, where Civic Connect will provide identity verifica… https://t.co/Pht1GR6a91

a month ago

World Crypto Con Launches Blockchain Summit: Aria Hotel, Las Vegas

LAS VEGAS, OCTOBER 27, 2018 - World Crypto Con (WCC), launches the world’s most immersive and interactive blockchain and crypto experience, with an exciting schedule of activities designed for seasoned crypto enthusiasts and for newcomers to join the community and learn more. The schedule includes over 120 speakers from the growing crypto industry including; BITSHARES, the BITCOIN FOUNDATION, LITECOIN and CEO of WAX together with the launch of the latest decentralized currency exchange, SUPERSONICEX providing the opportunity to learn more about the future of the blockchain technology as well as regulatory developments in crypto affecting the industry as a whole. The three-day event will take place at the Aria Hotel in Las Vegas with registration opening at 11am on October 31, marking the 10th anniversary of Satoshi Nakamoto’s Bitcoin white-paper and serving as a reminder that One Single Bitcoin on 31st October 2016 was worth only $530 and today, only 24 months later, is worth over $6,300 per coin! World Crypto Con delivers a global stage hosted by Stewart Rogers, VentureBeat’s Director of Marketing Technology, along with Joel Comm and Travis Wright of The Bad Crypto Podcast, and will offer the chance to meet and greet some of the industry’s biggest names. “World Crypto Con is a huge event covering over 200,000 square feet and over 120 guest speakers. It’s different to other blockchain and crypto events, as it’s not just about networking with industry peers or listening the latest regulatory trends, World Crypto Con goes far beyond that. This event offers an engaging and interactive experience joining together a community and place to immerse the way technology is actually changing the world” said Adam Williams, Co-founder of World Crypto Con. William’s added; “We are committed to delivering the most engaging set of experiences that go beyond an average crypto conference and embrace community activities such as the Hodl Rally and Tour de Crypto (#cryptokindness) where early crypto adopters meet entrepreneurs, investors, traders, legal professionals and people just curious to lean more, something like this you would not be able to encounter at any other event.” World Crypto Con features over 150 exhibitors across the 200,000 square feet exhibition floor, including launch of Global Fintech Platform, SuperSonicEx as well as the Token Tank Live Experience and other highlights: Bloqchain Smart Vegas Hackathon World-class judges and mentors from top crypto and blockchain companies will be on-site offering advice, mentorship and giving presentations. For the first tiem ever, a new ground breaking crypto-currency will be offered as a prize Decent.bet Poker Tournament Decent.bet has teamed with WCC to host an interactive Blockchain Poker Tournament. Crypto and poker enthusiasts will have an opportunity to play with some of the biggest stars in poker. University Row Provides future blockchain entrepreneurs with a global stage for their research. Six university teams will present their cutting-edge blockchain research and projects to conference attendees. World of Mining World Crypto Con is the first Conference to bring experienced professionals from the world’s most innovative mining-related companies to create a one-of-a-kind mining experience that will drive mining innovation. Live Art with VESA Crypto artist and filmmaker VESA will be showcasing his innovative mixed media platform Art For Crypto, which is rapidly establishing new creative standards in the blockchain art space. Giant “CryptOween” Halloween Party with Steve Aoki WCC is throwing a massive Halloween celebration with the first annual CryptOween costume party at OMNIA Nightclub at Caesars Palace. The event will be DJ’d by Grammy nominee Steve Aoki and there will be a costume contest with a $1,000 cash or crypto prize for the lucky winner. Other exclusive conference experiences on the agenda include Blockchain eRacing, YouTube Influencer Meet & Greet, and Monster Security Token (STO) Event. “World Crypto Con is designed around the core pillars of education, entertainment, and excitement,” added Christopher Herghelegiu, Co-founder of World Crypto Con. “This space doesn’t need more echo chambers, it needs a conference like ours that brings to life the future of this tremendous industry and opportunity.” Headline speakers include the biggest names in crypto-currency, including Brock Pierce, Chairman of the Bitcoin Foundation, Charlie Lee, Founder of Litecoin, Charlie Shrem, Crypto Pioneer and Founder of the Bitcoin Foundation. These together with Bobby Lee, Founder of BTCC, Vinny Lingham, the CEO of Civic, Ronnie Moas, Founder of Standpoint Research and over 100 more industry titans and over 150 exhibitors make this an event not be missed! There will be major industry announcements on the WCC stage, giving attendees the opportunity to hear first hand, latest new and trading tips in blockchain technology. Finally, World Crypto Con has teamed up with SuperSon

a month ago

📝 Let’s catch up with the latest highlights: 454 new users o...

📝 Let’s catch up with the latest highlights: 454 new users on our tools; Dentacare + Civic Connect; DentaVox 2.0 re… https://t.co/RxAs8FDlJq

a month ago

Columbia University’s Forward-Thinking Tow Center Examines Blockchain’s Role in Journalism

Columbia University’s Tow Center for Digital Journalism recently held a panel examining blockchain’s role in the journalism world. The Columbia Journalism Review reported on the October 19th panel in recap yesterday. The event was entitled “Blockchain in Journalism: Promise and Practice.” The Tow Center is part of the Columbia University Graduate School of Journalism, purveyors of the famed Pulitzer Prize. The Tow Center mission statement says: The Tow Center for Digital Journalism explores the ways in which technology is changing journalism, its practice and its consumption - particularly as consumers of news seek ways to judge the reliability, standards and credibility of information With its emphasis on technological change, it comes as no surprise that the Center is keen on exploring the relationship between journalism and blockchain. Two Worlds Collide The Columbia Journalism Review‘s Mia Shuang Li notes that the event garnered a wide-ranging spectrum of panelists from the realms of blockchain and journalism. Civil Foundation CEO Vivian Schiller and ZigZag podcast’s Manoush Zomorodi were central to the panel: Civil functions as a platform supporting many news publications, ZigZag among them, financed by its own token the CVL, and was a major topic of discussion as well as a panelist. Other contributors included Columbia researcher Eran Tromer, Forbes head of Product & Tech Salah Zalatimo, New York Times researcher Nellie Bowles, and Jarrod Dicker, CEO of Po.et. The entirety of the panel can be viewed below: Rising to the Challenges... Shuang Li describes a series of three challenges that blockchain journalism poses. According to the panel, the first challenge deals with the relationship between blockchain and crypto — too often blockchain maintains a “stigma” due to its association with cryptocurrency. The usual suspects of the stigma include volatility and general reputability. The second challenge deals with the issue of translating the realities of blockchain to the layperson. Manoush Zomorodi notes that his podcast is an extension of this effort. The final challenge is that of “flawed product design,” and unrefined interfaces which lead to a loss of trust and participation in blockchain-related journalism projects. Shuang Li mentions that “Nieman Lab’s John Keefe calculated that it takes 44 steps to purchase CVC, the token that powers Civil.” ...Or Overly Optimistic? Despite a clear image of the challenges ahead, some panelists felt a sense of skepticism towards over-excitement: While the panelists were generally optimistic about blockchain’s potential to improve public trust in journalism, they also wondered whether the journalism industry had too hopeful a view of the blockchain-based future. Shuang Li remarks that Postlight CEO and panelist Paul Ford said, “The whole thing is a giant under-construction GIF.” Bitcoinist has previously reported on a wide range of crypto activities occurring at the world’s top universities. Despite a hesitancy among major universities to accept crypto donations, many schools are incorporating blockchain and crypto classes. These classes and programs are wildly popular across the US. Among the nations best universities offering crypto classes, Stanford University recently topped the list. What are your thoughts on Columbia University’s blockchain and journalism panel? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock, YouTube (Columbia Journalism School) The post Columbia University’s Forward-Thinking Tow Center Examines Blockchain’s Role in Journalism appeared first on Bitcoinist.com.

a month ago

Indian Police Seize Unocoin’s ATM, Arrest Two Founders

One week after Indian cryptocurrency exchange Unocoin announced the launch of its ATM, local police have reportedly seized the machine and arrested two founders of the company, including the CEO. Police say the machine was set up without approval. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Several Items Seized Indian police have seized a recently-installed kiosk operated by Bengaluru-based cryptocurrency exchange Unocoin, the Times of India reported on Wednesday. The kiosk was reportedly located at Kempfort Mall on Old Airport Road in Bengaluru. It was launched on Oct. 15 as an automated teller machine (ATM). According to the police, the machine is “illegal as it had been set up without approvals,” the news outlet detailed, elaborating: Central Crime Branch sleuths seized a teller machine, two laptops, a mobile, three credit cards, five debit cards, a passport, five seals of Unocoin company, a cryptocurrency device and Rs 1.8 lakh [$2,458]. Founders Arrested The company’s 37-year-old co-founder, Harish B.V., was arrested on Tuesday in connection with operating the machine. Harish is being held in police custody for seven days, the publication noted, adding that “Cops said more arrests are likely.” Then, on Thursday, the Times of India reported that another founder, CEO Sathvik Viswanath, was also arrested. “Viswanath, 32, who lives in Tumakuru, was produced before a judge at his residence and remanded in police custody for seven days. Sleuths have seized a laptop and a cellphone from him,” the publication wrote. According to the News Minute, the Cyber Crime department of the Central Crime Branch told the media: The ATM kiosk installed by Unocoin in Bengaluru’s Kempfort Mall has not taken any permission from the state government and is dealing in cryptocurrency outside the remit of the law. The Bangalore Mirror quoted Alok Kumar, a commissioner with the Bengaluru City Police, elaborating, “They did not have any licence from RBI [Reserve Bank of India], Sebi [Securities and Exchange Board of India] or any other agency to carry out the bitcoin transaction.” He added that the machine was also operated without any trade license from the BBMP, a branch of the government in the Greater Bangalore metropolitan area responsible for civic amenities and some infrastructural assets. Negative Media Reporting On Oct. 20, before the police seized its kiosk and arrested its founders, Unocoin tweeted: Our machine didn’t go well with few mainstream media reports who projected it under a negative light. The machine is still under final testing mode and it will be up and running in the upcoming week. The machine has been temporarily moved from its original place of installation. The mall management became apprehensive after seeing negative media reports, a Unocoin founder told the Times of India. “The reason for panic is because of fake videos on Kannada and English channels. Due to this, our kiosk is not operational. We’ve been trying to actively get these videos pulled down,” the news outlet quoted the founder describing. Unocoin’s ATM at launch (left) relabeled as a kiosk (right). Photo credit: Unocoin. The machine was originally labeled as an ATM. However, Unocoin has since changed its description to a kiosk. Cryptocurrency Not Illegal in India Viswanath previously explained that “it’s perfectly legal for Indians to buy, own or sell bitcoins,” the publication conveyed and quoted him saying: We got a lot of bad press after the finance minister announced a ban in February 2018. The minister’s statement was clear: cryptocurrencies are not legal tender in India. He did not say ‘illegal tender’. There’s a huge difference. India’s finance minister Arun Jaitley said in his 2018-19 budget speech, “The government does not consider cryptocurrencies legal tender or coin and will take measures to eliminate [the] use of these cryptoassets in financing illegitimate activities.” What do you think of the police seizing Unocoin’s kiosk and arresting the founders? Let us know in the comments section below. Images courtesy of Shutterstock and Unocoin. Need to calculate your bitcoin holdings? Check our tools section. The post Indian Police Seize Unocoin’s ATM, Arrest Two Founders appeared first on Bitcoin News.

a month ago

Cryptocurrency Roundup App Gets $100,000 Shark Tank Investment

Services that allow individuals to invest small amounts of money on a recurring basis have become popular in recent years, especially for young people. An automatic cryptocurrency buying app that rounds up everyday purchases has just secured a $100,000 investment on Shark Tank. Also Read: Cointext Launches SMS Bitcoin Cash Wallet in 4 New Markets Bundil Enters the Shark Tank Bundil is an Acorns-like service for cryptocurrency. The platform allows users to automatically invest their spare change from everyday credit or debit card purchases into a number of cryptocurrencies including bitcoin core (BTC), ethereum (ETH), litecoin (LTC), and bitcoin cash (BCH). It rounds up transactions from normal spending to the nearest dollar, and invests in the cryptocurrency the users chooses. For safety, Bundil doesn’t hold any of the users’ fiat or cryptocurrency, instead using the Coinbase exchange to handle all of the transactions. It also allows users to track their portfolio growth, and manage the holdings all without leaving the app. Its pricing plans start at just $2 per month. The founder of Bundil, Dmitri Love, went on ABC’s Shark Tank during the latest episode of the show which aired on Sunday, Oct. 21, and presented the app. Kevin O’Leary Takes a Big Bite As required by the reality TV format, Love told an emotive and inspiring story about how he came up with the idea when he was a biochemistry student at college and self-learned how to program while recovering from a sports injury. “I thought, man, you know, anyone that’s trying to invest in cryptocurrency has to go through all these steps to try to figure out how to buy it. And I thought there could be an easier way for it to be done.” Love asked for $100,000 in exchange for 10 percent of the venture at the start. Kevin O’Leary offered him the requested sum, but for a hefty 50 percent ownership of the startup. Love countered that “50 percent is quite a bit,” but begrudgingly agreed to the deal with the lone shark as the others were not interested in making counter offers. Of course this isn’t the first time the sharks have heard about cryptocurrency. Mark Cuban, who was doubtful central banks would allow Bitcoin to grow back in 2014, has become much more open to the idea recently, even suggesting that his NBA team will sell tickets for crypto. Cryptocurrency angel investor and Civic founder Vinny Lingham has also been a regular on the South African version of the show. Would you use a roundup app to automatically buy cryptocurrency? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Cryptocurrency Roundup App Gets $100,000 Shark Tank Investment appeared first on Bitcoin News.

a month ago

🔐 BlockPublisher: "Leave your username and password in the p...

🔐 BlockPublisher: "Leave your username and password in the past, for Civic Connect and Dentacoin are here to take y… https://t.co/uIQalOEKsp

a month ago

Bitcoin (BTC) Price Analysis: Which Way Will It Break?

Bitcoin is still trading inside its descending triangle on the 4-hour time frame and consolidating just below resistance. A break past the $6,500 resistance could be enough to confirm that bulls have won over and that a longer-term uptrend is underway. However, the 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, resistance is more likely to hold than to break. The 200 SMA is also just above the triangle top to add to its strength as a ceiling. If it keeps gains in check, price could fall back to the triangle bottom around $6,150. Stochastic looks ready to turn higher without hitting the oversold region, indicating that buyers are eager to return. RSI is turning lower to signal that bears still have the upper hand and could continue to push bitcoin south. A break below support could spur a drop that’s the same height as the long-term triangle pattern. Warnings that another bitcoin bubble may be just around the corner could be discouraging bulls from charging, even with a handful of positive updates that would likely keep price supported. CEO of Civic Vinny Lingham says: “Do I think we’ll have another bubble? Probably, because people just don’t learn. Once it broke through $20k, it would run to over $100k and then we have the start of a new bubble-bust cycle.” On more positive news, the launch of bitcoin futures on ICE Bakkt is approaching, possibly spurring stronger inflows and more volatility. However, traders are also wary of how the launch of CME bitcoin futures last year may have spurred the huge drop as it opened the cryptocurrency to short positions. Bakkt could begin offering physically settled bitcoin futures contracts in December 12. The post Bitcoin (BTC) Price Analysis: Which Way Will It Break? appeared first on Ethereum World News.

a month ago

CEO of Civic Says That Bitcoin Threatens the Governments Ability to Make Money

In a recent interview with Cointelegraph, Vinny Lingham, the CEO of the blockchain identity startup Civic, said that the prices of cryptocurrencies will surge again, it just may take some time. The priorities in the market have shifted and “Now the world is waiting for utility, when people will actually start to use the cryptocurrencies.” He also sees growing push back against Bitcoin from governments around the world because “it threatens their ability to make money.” Within time, Lingham feels that every country will issue their own cryptocurrencies. (JF)

a month ago

Civic Looks to Expand Adoption With App-to-App Developer Tool

If blockchain-based identity platform Civic is to go mainstream, then making it simple for as many businesses and consumers as possible to start using its app will be key.“Consumer adoption may take a while. Hopefully we have a hit that takes off,” Vinny Lingham, CEO and founder at Civic, said on stage at Money 20/20, in a fireside chat with Bruce Silcoff, CEO of blockchain-based ID company Shyft, and moderator James Mirfin, global head of digital identity at Refinitiv. To that end, the company is aiming to attract more partners with its latest solution, Civic Connect, an integration tool that will allow mobile app developers to integrate the Civic app directly into their own apps as a way to authenticate users. Civic made the announcement on October 21, 2018, during the Las Vegas event. Civic Connect includes two libraries: One is an Android library, the other, an iOS library. The library tools, both available on Github, allow a partner app to include a “Connect with Civic” icon in their own app with only a few lines of code. Tapping on that icon takes a user from the partner app over to the Civic App, where the user can approve the exchange of login credentials or personal information, and then back to the partner app again. “They are basically transitioning screens,” JP Bedoya, vice president of product and design at Civic, told Bitcoin Magazine.“If you were logging into Wikihow, for example, one of Civic’s partners, you would just use your Civic identity and with that you will login in a matter of seconds, create an account and whatnot,” he said. “So CivicConnect is an extension of that. Now you can use that Civic identity in a seamless way from any mobile application that works with Civic,” he said. The Civic app itself works like a digital wallet, but, instead of storing funds, it stores personally identifiable information, which you can use to log into another app without a username or password or to share know-your-customer (KYC) data, depending on what an app requires. The library tools allow developers to add two-factor authentication (2FA), anonymous private 2FA and onboard verified users in a customized flow to streamline the experience, Civic said. The way Bedoya sees it, “If you think of all of the millions of apps out there today and you have to create a username and password in all of them, now you can just use your Civic app.” Private ID Verification TransactionsCivic wants to allow consumers to regain control of their identity. As Lingham explained it, in talking to Bitcoin Magazine, imagine if you handed your driver’s license to a bartender to show you were of legal drinking age, but then the bartender memorized the information, or then the Department of Motor Vehicles, the agency that issues licenses, had a way of becoming aware of that (and every) transaction you made using your driver’s license? “It would just be freaky,” he said. “We think about it that way. How do you create a world where you have an ID without a record being tracked? And that is why the blockchain makes sense. Now the bartender can verify independently, and only you and he know the transaction occurred.” Civic stores attestations on the Bitcoin blockchain, while ID information is encrypted and stored on a user’s own device — not on Civic’s servers. Transactions, which occur when you show your ID to another app using Civic, are handled by smart contracts on the Ethereum platform. Eventually, the project plans to move to RSK, but it is not there yet. The Civic project has 1 billion CVC tokens, a third of which it sold in a 2017 token sale to raise $33 million to build out its platform. But while Civic has big plans for its future, competition in the space is stiff. Right now, Lingham explained, there are about 40 or 50 other blockchain-based identity services on the market — and “thousands” of companies trying to handle ID in a centralized fashion. “No good idea is born alone,” Lingham said. Nevertheless, he thinks Civic stands a good chance of coming out ahead. “The real question is how do they compete with us?” he said of his blockchain-based ID competitors. “We got here first. We have a lot of IP that has been developed and a string of patents, so we are first.” (Civic was originally founded in 2016.)Civic has also been adding new partners, companies and entrepreneurs that need its ID services. According to Lingham, Civic has 100 partners so far. Its best-known partner is Anheuser-Busch. Partners in the crypto space include Brave, ShapeShift and 0x, and it's been able to sign up several ICO projects that need to follow KYC before selling tokens. Lingham feels consumers will be drawn to Civic because of its security and privacy. “We don’t make money out of monetizing your personal information like the big guys do,” he said. “When you use Facebook, let’s be frank, they are tracking every time you use it to open an account in an app, so they can target ads at you, and Google as well.” Of course, Facebook an

a month ago

Civic Launches Civic Connect to Replace Facebook and Google Login Verification

Civic (CVC), a decentralized architecture for identity protection, announced the launch of Civic Connect on Sunday, a new app-to-app integration that allows for blockchain-based user authentication. This system is designed to replace third-party authentication via platforms like Google and Facebook that are facing ongoing data security issues. Introducing CivicConnect: Making seamless app-to-app identity verification a reality https://t.co/S728N6SQjn

a month ago

Another ‘Expert’ Claims That Bitcoin Is A Bubble

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

a month ago


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