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Market Cap $ 16.218 MM (#157)
24h Volume $ 1.017 MM
Chg. 24h: 3.03%
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Encrybit

Encrybit airdrop is worth up to 53 ENCX tokens (~$ 10.6) and 10 ENCX (~$2) for every referral. About Encrybit Encrybit is the first cryptocurrency exchange with a modern trading platform that sets it apart from the traditional style of traditional exchanges available in the current market. Encrybit provides users with extensive market research tools which include data analytics, trading strategies, trade signals, cryptocurrency news, social feeds and real-time coin announcement. Encrybit is rated 4.6/5 on ICObench. How to join Encrybit Airdrop? Go to the Encrybit Airdrop page. Submit your mail and Ethereum address. Register on Encrybit & verify your mail. (Mandatory) Join Encrybit on Telegram. (Mandatory) Follow Encrybit on Twitter. (Mandatory) Go to your dashboard of the Encrybit site. Copy your referral code and paste it in the Airdrop page. (Mandatory) Complete more tasks from the Airdrop page to earn more ENCX tokens, 1 point = 1 ENCX. Submit all your details to the Airdrop page. You will receive extra 10 ENCX tokens if you complete all tasks, in total 53 ENCX tokens. Share your referral link from the Airdrop page to earn 10 ENCX tokens for every referral. Additional: There will be a lottery each week among the participants, 7 people will win 20 XRP. Your points on the airdrop form must be 35+ points. If you use the ''CLAIM AIRDROP'' button below to claim the Encrybit Airdrop, it will automatically show on the main page with a purple check mark. So you can easily track which airdrops you joined and which ones you need to join.

15 minutes ago

Nomics raises $3m in Series A round as demand for crypto data surges

Nomics, an API crypto data site, announced Tuesday that it had closed a Series A round at $3M. The leading investor was VC firm Arthur Ventures, which was joined by BitGo Co-Founder Ben Davenport, CityBlock Capital, Coinbase Ventures, CoVenture Crypto and Digital Currency Group. Founded earlier this year, Nomics has indexed 3.5 billion raw trading data-points from multiple exchanges, aiming to guide investment decisions and machine-learning models. 80% of its paying customers consist of hedge funds with a heavy quant strategy, while the remaining 20% is shared between exchanges and fintech apps, the company said. It would not confirm the total number of customers to date. “I think the space is really wising up. After the irrationality of 2017, people are demanding clean, hard guidelines,” Clay Collins, Nomics’ CEO told The Block. He added that raising funds in a bear market had been surprisingly straightforward. “We have a strong balance sheet and a real product and customers. It’s not a bet on asset prices. I think this [investor interest] represents a real desire to have equity - meaning information rights, voting rights etc - and to invest in real businesses with people with experience at their helm.” The bulk of the raised funds will go to R&D (including engineer hires) to “scale the ingestion of data,” with the company hoping to index 95% of all transaction data available. Collins added that he did not anticipate having to raise again and expects to be profitable “way before we run out of money.” Investors will be hoping the company can provide the space with the data infrastructure needed to provide consistency and scalability. The post Nomics raises $3m in Series A round as demand for crypto data surges appeared first on The Block.

2 hours ago

The Daily: HTC Blockchain Phone Delayed, Exchange Security Ratings Updated

In Tuesday’s edition of The Daily, there’s a little of everything in the mix: a story about hardware, in the form of the delayed Exodus 1 smartphone, one about security, concerning the latest crypto exchange ratings, and finally a human interest story. This latter tale concerns a war of words between two passionate figures within the cryptocurrency space. Also read: Cypherpunk Godfather Timothy May Was Lightyears Ahead of His Time HTC’s Exodus 1 Phone Has Yet to Ship Customers who made an advanced purchase of the Exodus 1 blockchain phone are still waiting to receive their devices. The crypto-friendly cell phones, priced at 0.15 BTC or 4.78 ETH, were rapidly snapped up by cryptocurrency proponents, who were promised that the devices would ship in December. While there’s still time for that to happen, manufacturer HTC is cutting it fine with Christmas less than a week away. Figures such as Charlie Lee helped to promote the project, and by early December advance orders for the phone, which features a built-in BTC and ETH wallet, had stopped being taken. In the project’s Telegram channel, buyers have become impatient as they await delivery of their eagerly anticipated phones. “Biggest scam in the history of smartphones,” vented one irate buyer. His assertion, while very wide of the mark, captures the frustration that Exodus 1 customers have felt as they’ve awaited news. Today, Dec. 18, European customers received an email from HTC Exodus that explained, vaguely: We are contacting you to let you know the shipment of your order has been delayed, as we are currently finalizing the last certification for European devices. We are working hard to get your order to you as soon as possible, and will keep you updated when we have a confirmed shipping date. We apologize for any inconvenience and thank you for your patience. Cryptocurrency Exchange Ratings Updated There’s a ratings system for everything within the cryptocurrency space these days, from influencers to coins, and from exchanges to blockchains. In October, news.Bitcoin.com reported on ICOrating.com’s exchange security assessment that deemed 54 percent of trading venues to have security holes of some kind. ICOrating.com has now updated its report to reflect new information and additions that have served to alter its assessment of the top 10 exchanges. Coinbase Pro, which occupied the top spot, has slipped to ninth, while Kraken has leapt from second to first. Binance has dropped out of the top 20 altogether. “Overall, only 16 percent of exchanges fall into the A category. None of the exchanges have received an A+ rating,” noted ICOrating.com. While all ratings systems are subjective to a certain degree, their existence can only be a good thing if it spurs their subjects into improvement. Increased transparency and commitment to adopting better security standards will benefit not only exchanges, but also their customers, who can trade with confidence. Crypto Figures Get Into a Tiff Ran NeuNer as he appears on Twitter A war of words has broken out between Ran NeuNer, host of CNBC’s Cryptotrader, and Larry Cermak of The Block. Cermak, together with his colleague Mike Dudas, published an exposé of a fraudulent ICO called BCT and accused NeuNer of being embroiled in it. The CNBC host hit back with threats of legal action, ordering The Block pair to delete tweets and amend their story, after explaining that he’d done nothing to facilitate BCT’s misbehavior, and was in fact a victim himself. In a rambling blog post titled “An open letter to The Block”, NeuNer wrote: According to Larry, the alleged fraud, scams on investors and employees and a man working in this industry under a fake identity, weren’t the interesting part, but rather my alleged “involvement”. [Larry] went on to make a series of accusations  —  most of which are incorrect, negligent, inaccurate, defamatory and damaging. NeuNer then complained of The Block only giving him six hours to provide his side of the story before Cermak’s publication went to press, which he believes was a deliberate move on their part. He finished: “I was a fan of The Block and a regular reader of its stories, but if I go by my experience of your unethical business practice, false reporting and lack of verification, then The Block is unfortunately not that publication.” Mike Dudas, for his part, has responded to NeuNer’s open letter by stating that The Block stands by its story, and extended him an interview invitation. NeuNer has yet to respond. What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post The Daily: HTC Blockchain Phone Delayed, Exchange Security Ratings Updated appeared first on Bitcoin News.

2 hours ago

The Crypto fall of 2018 and why it’s Nothing New

Cryptocurrencies have come a long way since their beginning about 10 years ago. Nearly all of them have seen ups and downs on their long journey to our modern day. The veteran of cryptocurrencies, Bitcoin has arguably seen the bumpiest road as it jumped from price to price, as well as headline to headline. After years of ridiculing the asset, many critics were silenced in December 2017, when it managed to reach nearly $20,000, an amazing achievement when you realize that there was a time when it used to be priced at just $1. Although the price silenced some of the critics, there were still warning about the whole thing backfiring on bullish investors. Needless to say, it did indeed backfire. Starting from January 2018 Bitcoin and all the other major cryptocurrencies have been falling at a massive rate, with no sight of stopping in the nearest future. But what caused such mayhem? Is this even normal? The crypto fall is not an end for cryptos Critics jumped on the opportunity to ridicule cryptocurrencies after their fall, just as a drunk bachelor would jump on the last remaining pizza slice at a party. Calling it the end of all cryptos and generally sewing madness into an already mad situation, wasn’t too good about the price as well. The fear mongering takes a toll on an investor’s psychology and it makes him doubt his decisions, ultimately making him abandon them completely. So in a way, these critics do indeed have some leverage over the prices, but here’s why you shouldn’t listen to them and be frightened. Cryptocurrencies are a young market Compared to other markets, cryptos are in their toddler phase, when they’re just now trying to adjust to the world economy. But how did such a small and young market segment manage to gain so much attention? Hype is the answer. Hype is such a marvelous word to describe something. It tells you everything and nothing at the same time. The same thing was with the hype for Bitcoin. The hype of buying it, What for? Who cares! You’ll make a bunch of money really quickly! Although this was the case for some investors, it was what ultimately brought the cryptos down. Supply and Demand govern our world Supply and Demand are the very basics of economics. If you have high supply and low demand, you have lower prices. Turn that around and you have high prices. We can easily apply this to cryptos, so let’s get into it. When cryptos were having a steady increase, there were thousands of experienced investors who were actually keeping an eye on it. These investors were looking at the assets, not as beneficiaries for the transaction systems of tomorrow, but an investment, something to make money from. And invest they did. Millions actually, which propelled Bitcoin and all of its altcoin friends to the stars. But just like these experienced investors know how when to buy, they know when to sell. At around the $19,000 mark, we could already see a small slowdown in the prices. At this point, you would rarely see investors opting for a BUY option when the price is so high. Sure there were some fanboys who believed it would reach $100,000 but they represented only the smallest minority of the investors. Everyone else was selling. Now we have a situation where everybody is selling, but nobody is really willing to buy, what does this cause? A price decrease of course! As investors get more and more desperate to get rid of their coins, they become more willing to sell them at a low price, which just spirals out of control and low and behold, Bitcoin now costs a bit more than $3,000. This is a classic Supply and Demand story. Supply was sky high, and Demand was an all-time low, it was pretty obvious it would happen and therefore nothing new to those who have at least some understanding of economics. Competition kills When you’re a beginner or just a mid-tier investor. Investing in something that costs $19,000 is pretty hard to do. Sure you can do it, but then it becomes very risky as you don’t diversify your assets, and if something were to happen with that 1 investment, you’re pretty much screwed. This is why all the new and the “mid-tier” investors just ignored Bitcoin completely and opted for cheaper, but also quite popular altcoins like, Ripple, Ethereum, Litecoin and etc. We are visiting another crossroads between Supply and Demand. Fewer people want to buy Bitcoin now, so once again another factor decreases the Demand. B..b..b..but altcoins are going down the drain too! Yes, they indeed are. But it’s nothing to be surprised about actually. It can all be boiled down to Bitcoin and investor sentiment. Imagine you are an investor and have a boatload of Ethereum. You suddenly hear that the Bitcoin roller coaster has reached the peak and is about to come crashing down. What do you think? “Oh no! If Bitcoin’s price goes down, then surely Ethereum will follow right?” So you start selling it off. Now multiply that by at least tens of thousands and you get the picture. The altcoin downfall w

2 hours ago

The Crypto Market is Skyrocketing, EOS and XRP attains staggering increase in daily gains

It is evident that the cryptocurrency market is making a rebound, this rebound is not only effective on the value the markets trading volume, it is also pulling up the lowest grossing tokens and placing them all in a promising light. via coin360.com One very interesting development that has emerged with this new upsurge in the market is the rising of top tokens that have become great pioneers of what may turn out to be the next bull run, the effects of which will go one to build the needed structure for the 2019 cryptocurrency market to be fully mounted upon. EOS and Ripple XRP have declared full participation in these bullish trends as they emerge two of the highest grossing tokens in the past 24hrs. EOS to the moon It is obviously a season of overtaking for EOS. When one considers the giant spike in trading volume and market cap, the newly achieved milestones are not showing themselves to be a temporary one. In the past one week, EOS was managing to stay afloat with its trading price dangling around the $1.95 mark. However, in an unexpected turn out of events, EOS garnered enough stability and skyrocketed above Litecoin, Tether and most recently Stellar, to become the 4th largest cryptocurrency. With traders anticipating Ether as its next victim, EOS has dramatically attained a new trading volume of $1.24 billion, one that it had been struggling to reach since November. Following that, market cap has surged from $2.1 billion to $2.17 billion, and with an increase of 21%, 1 EOS now equals $2.39 as of this writing. The unstoppable XRP The XRP may still be trading below $1, its gains of 12.78% did not only move trading volume from $639.3 million to $819.67 million, but market cap which totaled at $11.7 billion in the last two days has also now reached $1.33 billion. With the current direction of XRP, its trading price of $0.327066 exhibits possibilities of an impressive breakout in coming weeks. For most traders, victimizing the Ether was enough to seal the deal. And surprisingly, the XRP token has managed to retain its second position so cautiously that traders are analyzing the token’s ability to overthrow BTC in 2019. The successes of the Ripple network have not ceased to birth new evangelists, one of which is Cbnc’s Ran NeuNer, who had earlier revealed that he invested more fiat into Bitcoin and his wife was unimpressed that these investments were not geared towards XRP. He can be quoted saying; “All she could ask is why I didn’t buy XRP”. The post The Crypto Market is Skyrocketing, EOS and XRP attains staggering increase in daily gains appeared first on ZyCrypto.

3 hours ago

Sources of Demand Surrounding Crypto and BTC Will Change Next Year

The crypto market may be down, but that doesn’t mean it’s no longer popular. According to a new episode of “Fast Money,” the cryptocurrency space is set to undergo several changes in the coming years, particularly when it comes to bitcoin demand. The episode alleges that in the time ahead, teenagers and younger generations will request bitcoin and other crypto assets in place of cash or gift cards when their birthdays or Christmas rolls around. Crypto Is Replacing Other Desires In addition, the episode also asserts that central banks and institutions will show a stronger demand for scarce, non-sovereign digital assets, while the opportunities for programmable money will grow heavily. Cryptocurrency has certainly had an exciting - and shocking - year. Approximately 12 months ago, bitcoin was experiencing an all-time high of roughly $20,000. Months later, coins like Ethereum would join the ranks as powerful crypto contenders, trading at over $1,400 during February 2018, for example. It looked like cryptocurrencies were on top of the world and weren’t about to drop anytime soon. Unfortunately, this wasn’t quite the case. Many cryptocurrencies, bitcoin included, began to tank at the beginning of the year, and they’ve been unable to stop. Bitcoin has since fallen from nearly $20,000 to just over $3,400 at press time, marking an 82 percent drop in just 11 months, while Ethereum is trading for just over $80. Other currencies, like EOS and Ripple’s XRP, have fallen by more than 90 percent since December 2017. That’s not to say, however, that things can’t turn around in 2019. In the episode, Spencer Bogart - a partner at Blockchain Capital - alleges that bitcoin will experience a major comeback next year. He admits that his 2018 prediction of bitcoin spiking to $50,000 was incorrect, though he’s certain 2019 has big things in store for the father of crypto. 2019 - The Year of the Crypto Comeback He mentions: “At Blockchain Capital, we focus on long-term trends. Could bitcoin still go to $50,000? Absolutely! How long will it take? I’m not sure. Up until recently, bitcoin has been a market predominantly driven by retail players, so in bull markets, we go a little too high and in bear markets, we go a little too low. This has still been a remarkable year for bitcoin. Try to ignore the price. We’ve seen endowments like Yale and MIT enter the space; we’ve seen qualified custodians move into the space, and the level of talent coming in is incredible. Young peoples’ imaginations are completely taken by this technology.” Will bitcoin show signs of recovery in the coming months? Post your comments below. Image courtesy of Shuttershock The post Sources of Demand Surrounding Crypto and BTC Will Change Next Year appeared first on Live Bitcoin News.

4 hours ago

Bitcoin [BTC]’s price rises dramatically through bear-infested empire as EOY approaches

Bitcoin, the world’s largest cryptocurrency, is no longer down in the dumps. The prices of Bitcoin have increased dramatically by more than 8% as of December 18, and have been up there for quite a while. The king of the cryptocurrencies has come out of its hiding, causing every other cryptocurrency to follow its lead, with some increasing more than Bitcoin in terms of percentage increase of prices. Source: CoinMarketCap The prices of Bitcoin in a 24-hour chart shows a plateau-ish shape that has developed over the course of a day. The prices on December 17, 2018, at 12:00 UTC, were at $3,283 and the market cap also held itself steady at $57.2 billion. The prices saw a gradual increase, which led it to climb as high as $3,450. Post this point, the prices held their ground steady without faltering. Bitcoin saw a price increase of ~9.53%, which was the highest Bitcoin ever reached in the 24-hour time frame mentioned above in quite a while. The prices gave another go at the rally, but exhausted again at $3,597. Eventually, the prices at the end of this time frame are holding at $3,540, with a market cap at $61.7 billion. Bitmex is the highest contributor to the trading volume for Bitcoin, which only trades BTC derivatives. It contributes a whopping $2.42 billion of the total trading volume, which is at $5.86, making Bitmain contribute ~41.29% of the total trading volume. The volume for the rise in Bitcoin doesn’t indicate a significant amount, which could further mean that this is probably not the bull run that everybody in the community thinks it is. Source: TradingView As seen from the chart, there is a major resistance at ~$3,775 range and even if BTC does decide to take off now, without actually reaching the sub $3,000 range, it wouldn’t necessarily have the ‘juice’ to have a strong rally. As a result, it would have an ephemeral run or a ‘fake-out’. A crypto-trade UB tweeted similar ideas and commented: “$BTC - This is one of the only scenarios I would long. If BTC breaks back into the previous daily range (3770 - 4382) without hitting sub 3ks first I’ll be mildly bullish. Until then, I’m comfortable shorting bounces. Overall, I still think we see sub 3ks first. #Bitcoin” Another crypto-trader Erik Korz replied to UB saying: “Huge fan of your analysis, as you know. But I’ve got slightly different views here. This is the most bullish PA we’ve seen in a little while and I’m looking for longs above 3430. If we lose that, I’ll surrender and admit you’re right and short to sub 3k :)” The post Bitcoin [BTC]’s price rises dramatically through bear-infested empire as EOY approaches appeared first on AMBCrypto.

6 hours ago

Bitcoin Price Analysis Dec.18: The Next Major Obstacle For BTC

Following yesterday’s analysis and after breaking up the falling wedge pattern, Bitcoin had made a significant bullish move. It doesn’t mean it’s over yet. The next day or two will be critical to determine if the correction can continue or else, lose momentum back to the $3000 area. As mentioned yesterday, the $3450 - $3500 is indeed a substantial resistance to overcome. Bitcoin has reached the 100 days moving average resistance line (marked white on the 4-hour following chart). To remember when was the last time BTC was above this line we need to go way back to around September 11. For more than three months Bitcoin couldn’t manage to breach this resistance line, and now it’s facing it again, as the first obstacle in Bitcoin’s way up. For the longer term, in my opinion, the critical level is the $4400 zone. At that level was the last significant Bitcoin’s high on the daily chart. Looking at the 1-day & 4-hour charts Looking on the daily chart: today’s Japanese candle will determine whether or not Bitcoin will continue its momentum to stay above the descending trend-line (the one marked in orange on the daily chart, this line was forming since November 20). It looks like Bitcoin has the right keys to continue up, at least to the $3600 - $3700 area: The daily trading volume is the highest of the past week, the RSI indicator looks bullish after breaking up the long-term trend line. However, Stochastic RSI oscillator of the 4-hour chart is at its overbought area, so we might see a correction to re-test prior support levels: Fibonacci retracement 38.2% lies around $3430, while 61.8% lies around $3340 (along with the 50 days moving average line). The two above levels are a possible healthy correction before continuation to the bullish movement. As mentioned, resistance area lies where Bitcoin is currently at, $3450 - $3500. The next significant resistance levels are $3600, $3700 and the prior high of $3850. Breaking down the $3300 might increase the chances of seeing new annual lows (below $3100). Along with the bulls, BitFinex’s open short positions had decreased sharply to 35K BTC open positions, after reaching 40K just before yesterday’s squeeze. BTC/USD BitStamp 4-Hour chart BTC/USD BitStamp 1-Day chart Cryptocurrency charts by TradingView. Technical analysis tools by Coinigy. The post Bitcoin Price Analysis Dec.18: The Next Major Obstacle For BTC appeared first on CryptoPotato.

6 hours ago

Blockstream Satellites Now Support Lightning Network, Global Expansion on the Way

CoinSpeaker Blockstream Satellites Now Support Lightning Network, Global Expansion on the Way In order to attract more users, blockchain companies are continuously improving their services and coming up with new ideas on how to foster mainstream adoption of Bitcoin and blockchain in general. The startup Blockstream, which was initially founded to develop new ways to accelerate innovation in cryptocurrencies, open assets, and smart contracts, has recently made good progress, offering a new update to its Blockstream Satellite project. On Monday, Blockstream announced an expansion of its satellite service to the Asia-Pacific region. Moreover, the company has also added support for lightning network transactions, allowing users to pay for its service using the “layer 2” scaling solution. Blockstream expands its Bitcoin satellite service to Asia-Pacifichttps://t.co/JRN0OcLNqN — The Block (@TheBlock__) December 17, 2018 Earlier, Blockstream Satellite covered North and South America, Europe, and Africa. With the fifth satellite, the company will be able to serve the Asia-Pacific region, the most populous area of the world, and cover all major landmasses in the world except for Greenland and Antarctica. The update comes with a new messaging feature that allows users to broadcast messages from the satellite and pay for these data transmission with Lightning Network micropayments. Chris Cook, head of the Blockstream Satellite project, said: “While satellite communications have traditionally been cost-prohibitive, Blockstream Satellite will finally allow developers to adopt satellite communications in their applications.” According to Cook, broadcast costs “are very low, which make them more suited to Lightning payments” rather than primary network transactions. He further added: “The benefits include prevention of network partitioning, the ability to use bitcoin in remote areas where internet connectivity may be limited, and it can also be a way to have a secure, fully synced node for a wallet (as it’s receive-only, [there’s] no risk of getting hacked).” Blockstream CEO Adam Back believes that supporting Lightning network adds significant benefits to the company’s services: “Lightning adds privacy due to its use of onion routing, and off-chain netting; and lightning better supports micropayments that are lower transaction cost, faster and more scalable. These are advantages for retail and web API use-cases generally, and help make the satellite data API service efficient and connect in with other bitcoin-related infrastructure.” Blockstream seems to be on its way to global expansion. As head of the Blockstream Satellite project states, five satellites are just the beginning, there are more to come in the future. “Four satellites are currently active, with coverage over North and South America, Europe, Africa, and now Asia Pacific. More will be added in the future to complete global coverage.” Blockstream’s Satellites: the Next Step in Global Bitcoin Infrastructure Blockstream Satellite was launched in August 2017 to broadcast real-time Bitcoin blockchain data from satellites in space to almost everyone worldwide. At the time, CEO Adam Back said the service was aimed at individuals with limited internet access or who otherwise face issues accessing Bitcoin. As Adam Back said, “the launch of the Blockstream Satellite API represents the next step in global Bitcoin infrastructure.” He explained: “For the first time, everyone has open access to a broadcast medium completely external to the internet, bringing reliable message transmission and Bitcoin access to the remotest of locations. With the Asia-Pacific expansion, Blockstream Satellite users are now able to reach over 90% of the world’s population with their messages. All of this is made possible thanks to micropayments enabled by Bitcoin and the Lightning Network.” Updates to API access for the new services are expected to go live in January of 2019. The team hopes that some more features for the satellites will be added in the future, and shows optimism about the impact that the project may have on the Bitcoin community in the future. Blockstream Satellites Now Support Lightning Network, Global Expansion on the Way

7 hours ago

Mike Novogratz on Why Bitcoin, "a Big FU to the System," Needs Institutions - Ep.98

Mike Novogratz, founder and CEO of Galaxy Digital Holdings, describes the company's services and products, why it's launching a credit offering, and why he pivoted from his original intention to launch a crypto hedge fund and then pivoted again from working with ICOs to serving institutional players. He talks about why, if he had the chance to go public again, he wouldn't do it, why Galaxy's stock fell so precipitously one day that trading was halted, and why he thinks the SEC has made it clear the ICO markets are closed. He also talks about why, on the way to democratizing finance, the crypto markets need to "take a step back" and start with institutions, why decentralization is important, and why he thinks the launch of Bakkt is the most important news in the crypto space this year. Plus, Mike surmises as to how consumers will start using crypto, but believes it won’t replace fiat in the Western world. Thank you to our sponsors! Microsoft: http://aka.ms/unchained">aka.ms/unchained CipherTrace: https://ciphertrace.com/unchained">https://ciphertrace.com/unchained Episode links: Galaxy Digital: https://www.galaxydigital.io/">https://www.galaxydigital.io Galaxy Digital's losses so far this year: https://www.bloomberg.com/news/articles/2018-11-28/novogratz-s-crypto-trading-desk-lost-136-million-in-nine-months"> https://www.bloomberg.com/news/articles/2018-11-28/novogratz-s-crypto-trading-desk-lost-136-million-in-nine-months https://www.bloomberg.com/news/articles/2018-07-26/novogratz-s-galaxy-digital-sees-134-million-loss-on-crypto-drop"> https://www.bloomberg.com/news/articles/2018-07-26/novogratz-s-galaxy-digital-sees-134-million-loss-on-crypto-drop Unchained episode about security tokens: http://unchainedpodcast.co/harbor-and-trusttoken-on-why-they-dont-mind-being-unsexy-ep77"> http://unchainedpodcast.co/harbor-and-trusttoken-on-why-they-dont-mind-being-unsexy-ep77 Unchained interview with Philip Rosedale of High Fidelity: http://unchainedpodcast.co/why-its-so-hard-to-keep-stablecoins-stable"> http://unchainedpodcast.co/why-its-so-hard-to-keep-stablecoins-stable Unconfirmed episode with Tom Jessop of Fidelity Digital Assets: http://unconfirmed.libsyn.com/fidelity-digital-asset-services-tom-jessop-on-why-its-serving-institutional-clients-first-ep043"> http://unconfirmed.libsyn.com/fidelity-digital-asset-services-tom-jessop-on-why-its-serving-institutional-clients-first-ep043 Unchained podcast with Arthur Hayes of Bitmex: http://unchainedpodcast.co/arthur-hayes-of-bitmex-on-why-countries-will-turn-to-digital-cash-ep63"> http://unchainedpodcast.co/arthur-hayes-of-bitmex-on-why-countries-will-turn-to-digital-cash-ep63

7 hours ago

Researchers Discover L0rdix Malware, which Steals Data and Mines Crypto on Windows Systems

Over the past few years, there has been a significant surge in malware activities following the popularity of cryptocurrencies. Although there is no direct correlation, cryptocurrencies and malware attacks seem to go hand in hand with new crypto jacking malware sprouting regularly. Researchers recently discovered L0rdix which steals data and mines crypto on Windows devices. Per the researchers, L0rdix integrates several aspects which make it dangerous as it easily evades detection by anti-malware applications. The malware goes for $60 in darknet markets, making it an affordable and critical tool that can affect many users. (KE)

9 hours ago

Hong Kong Stock Exchange Calls Alleged Bitmain IPO Hesitation ‘Rumors’

Recent reports allege that the Hong Kong stock exchange is “hesitant” to let a potential Bitmain IPO go ahead because of crypto market conditions

10 hours ago

CNBC’s Brian Kelly Is Reportedly Short on Bitcoin

Brian Kelly - often described as CNBC’s “uber” bitcoin bull - is allegedly short bitcoin. The news came forth in a new podcast published on Zerohedge.com. The bitcoin market has been seriously crashing over the past few days. Late last week, the currency struck the $3,100 range for the first time in over 15 months, though at press time, the price has risen back up to roughly $3,400. The currency does appear to be showing signs of recovering, though it’s hard to say how long it will last or where it will wind up at the end of 2018. Bitcoin in Crisis? The podcast - entitled “Quoth the Raven,” taken from Edgar Allan Poe’s most famous poem - says that Brian Kelly is short bitcoin, and potentially has been for some time. Kelly has served as a cryptocurrency analyst with CNBC for several years. On a recent program, Kelly allegedly claimed that he was “net short,” something he has yet to state in the past. Only a few months ago, Kelly purportedly stated that he’s so confident in BTC and its crypto-cousins that he’s placed approximately 90 percent of his wealth into digital assets. The podcast was particularly critical of Kelly’s casual attitude when announcing that he was short. The podcast speaker jokes that the asset has not entered a “bear market,” but is stuck in an “as*hole market,” and that the bear has come down crashing at 15,000 miles per hour. At the time of writing, bitcoin has fallen by over 80 percent since it reached its all-time high of nearly $20,000 last December. In addition, the podcast claims that Kelly repeatedly pumped BTC to potentially get listeners interested and investing in the currency to boost its price. The father of crypto has been falling steadily since the beginning of the year. Last summer, the asset spent most of the time hovering in the $6,000 range. In June, it temporarily fell below the $6,000 mark and entered $5,000 territory, causing widespread panic. Kelly, however, remained adamant that bitcoin was not ready to die, alleging that a series of recent hacks and selloffs were responsible for the sudden drop. Bitcoin Is Still Alive On CNBC, he commented: “This is not the funeral for bitcoin, whatsoever. Let’s put this in perspective. Do you know where we were a year ago? $2,500. Bear markets, we don’t know where they end. It doesn’t mean that bitcoin can’t go lower, but this is by no means the funeral for bitcoin.” Do you feel Brian Kelly has exhibited irresponsible behavior in some way? Post your comments below. Image courtesy of Shuttershock The post CNBC’s Brian Kelly Is Reportedly Short on Bitcoin appeared first on Live Bitcoin News.

10 hours ago

Crypto Schisms and Fork Psychology

Forking within the crypto ecosystem is often controversial subject. Many crypto-enthusiasts loathe it, taking particular exception to the so-called “contentious hard fork.” They believe hard-forking damages a cryptocurrency, and say it should be avoided at all costs. They also believe forking is detrimental to the market and represents a financial burden. However, this view is limited and narrow-minded. Also read: Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws Forking for Good, Forking for Bad Contentious hard-forking is how the community manages its systemic health, prevents bad actors from gumming up the infrastructure, and aligns the protocol in accordance with group principles. Forking is thus more than a way to upgrade a protocol. In reality, forking is a way to maintain self-care in governance without resorting to violence. It is about group dynamics and cooperating to discover peaceful solutions. It is as much psychological as technological. Vitalik Buterin, Ethereum’s creator, agrees. In a cogent article called “Hard Forks, Soft Forks, Defaults and Coercion,” he said: “Proponents of hard forks are often derided as trying to effect a “hostile take over” of a network, and “force” users to go along with them. Additionally, the risk of chain splits is often used to bill hard forks as “unsafe”. It is my personal viewpoint that these criticisms are wrong, and furthermore in many cases completely backwards.” Definition of a Cryptocurrency Fork A cryptocurrency hard fork equates to a network chain split. It means stakeholders decide to divide a preexisting cryptocurrency into two competing chains. Both chains share the same transactional history, but become two unique coins that follow different paths. In essence, these splits are how decentralized communities resolve disputes and come to terms with technological and philosophical differences. This is different from a soft fork, which is a coercive protocol change that is backwards compatible, but forces users to comply with its rule set. In a Medium article called Blockchain Forks Explained, Nate Maddrey said, “A blockchain fork is essentially a collectively agreed upon software update.” Maddrey’s definition concisely explains the technological fact of a fork, but as everyone knows, a blockchain “upgrade” is not always necessarily agreed upon. These “contentious hard forks” often cause disputes. Matter of a fact, sometimes “upgrades” in the cryptocurrency space are seen as attacks or political maneuvers by others. This causes natural schisms to crop up. Bitcoin Schisms and Reason for Division Some of these individuals go so far to suggest these “attacks” are an attempt to undermine bitcoin or usurp the protocol, as Vitalik suggested. The original Bitcoin fork, which split off in Aug. 1st, 2017, creating bitcoin cash, is a perfect example of a contentious hard fork. Leading up to this fork, divergent communities argued about how to effectively upgrade the protocol to meet demand. Each camp supported differing views on how to scale the cryptocurrency. On the surface, these differences were purely technological. However, at the center of these opinions rested fundamental philosophical beliefs on the nature and purpose of the cryptocurrency. The Bitcoin Cash camp primarily supported the notion that cryptocurrency should be used as cash for the world. This was also the view shared by the pseudonymous creator of bitcoin, Satoshi Nakamoto. Conversely, the core camp mainly supported Bitcoin as a digital commodity, something akin to gold. These perspectives ultimately mold popular thinking on the economics and purpose of the technology. If it is cash for the world, it’s a paradigmatic-shifting technology. If it is just “digital gold,” it’s a money-making — or money-destroying — speculative asset. Bitcoin Cash ABC and Bitcoin SV Fast forward another year to the recent Bitcoin Cash ABC and Bitcoin SV split. This split was even more political and less technological. For instance, the Bitcoin SV camp raised the block size immediately to 128MB and rejected the option to add much smart contracting functionality. The differences were basically superficial. The Bitcoin Cash ABC camp has always intended to raise the blockchain size to meet market demand. It just wasn’t necessary at this time. Adding the smart contracting implementation via new op-codes was the largest difference, but it makes sense from a market perspective. The fact that Bitcoin ABC sought to enable certain op-code functionality speaks to the idea that the more utility a crypto project has, the more value it will accrue. And this does not take away from its utility as a cryptocurrency at all. At the end of the day, the Bitcoin SV camp pivoted to fork Bitcoin Cash for political reasons, for the purposes of control and power. The beautiful thing about this split was it helped align incongruous ideologies, incentives, and personalities with their proper camps. Cooperation Versus Forki

11 hours ago

Bitcoin [BTC] influencer Tone Vays and economist Nouriel Roubini enter battle arena

Tone Vays, the popular Bitcoin [BTC] influencer and maximalist recently posted a Twitter poll wherein he asked his followers what haircut he should get next on the pretext of discussing Bitcoin World Tour, supposedly scheduled to happen in early 2019. The tweet read: “After 3.5 months on the #Bitcoin World Tour, it’s a Jungle under the #HODL Hat. So it’s time to finally get a haircut... I might even LIVE Stream it Again (Tomorrow night, USA time) haha... but in the next 24 hours let’s find out WHAT HAIRCUT Tone should get “ Here, Nouriel Roubini, the predictor of the 2008 recession and crypto-rival, responded to the post, jotting down the statistics of Bitcoin’s loss throughout the year. He also called out Vays due to the devaluation of the cryptocurrency market this year. His tweet read: “You already got a massive haircut and are now nearly bold: Bitcoin is down about 85% from the peak of a year ago. So you are totally completely scalped already. So how do you still go about 24/7 globetrotting preaching for Bitcoin? Only religious zealot belief can explain it.” Here, Vays took time to revert and stated that he has witnessed the bear market before. He revealed that he has watched Bitcoin fall from $1,200 to $150, post which the token took a huge bounce to reach about $20,000. He also mentioned: “Fundamentals are much stronger now, you saying it HAS to be Different this time?” Roubini started taking a certain amount of interest in criticizing the cryptocurrency space earlier this year. One of his most popular tweets was when he took a shot at Bitcoin and Vitalik Buterin, the Co-founder of Ethereum. Here, Dr. Doom analogized Bitcoin to North Korea and Buterin to a dictator. He also mocked BTC by writing that the Gini coefficient of Bitcoin is worse than that of North Korea. The post Bitcoin [BTC] influencer Tone Vays and economist Nouriel Roubini enter battle arena appeared first on AMBCrypto.

11 hours ago

Executive Blockchain Advisor

It’s been one year now since bitcoin achieved an outstanding all-time high of $20,155 per coin and today it seems we’re testing new lows of $3,122, a total drop of 84.5%. This massive slide in value may seem unprecedented but in fact, retracements of this magnitude have happened no less than four times in Bitcoin’s short history. To get a better understanding of Bitcoin’s price cycles please see this article that I wrote for Global Banking & Finance Review. Because cryptoassets are such a new concept, we are still finding ways to figure out what the value of them should be. All assets in every market go through price discovery, but due to the rapid growth of the crypto industry, this process of price discovery is currently on steroids. What does confuse me about market cycles, in every market, is the way that sentiment shifts to such extremes that traders end up preferring to buy when prices are high and to sell when prices are low when in fact they should be doing the exact opposite. @MatiGreenspan eToro, Senior Market Analyst Today’s Highlights Bank Led Selling Shut It Down Bitcoin Advisor to the President Please note: All data, figures & graphs are valid as of December 17th. All trading carries risk. Only risk capital you can afford to lose. Traditional Markets Stocks fell further on Friday with things turning downright ugly by the end of the day. There didn’t seem to be any specific catalyst or news story driving the sell-off, just more of the same backdrop that we’ve been talking about for months already. One thing that did stand out on Friday though was that the banking sector was sold off more relentlessly than the rest of the markets as depicted in this graph from Bloomberg. Also, it’s clear by now that US Stock markets are generally under more pressure than their global counterparts so far this month. It makes sense too. The US seem to be the ones leading the whole monetary tightening trend, followed closely by the European Union. We already heard from the ECB last week, which announced that it will be halting its QE purchases starting next year. This Wednesday we’ll hear from the Fed, which is expected to raise interest rates by a quarter point. Shut Er Down The US Government has until the end of this week to agree on a budget, and it does seem like they have their work cut out for them. Donald Trump is trying his best to include provisions to build a wall on the Mexican border but the Democrats are opposing this firmly. If they don’t come to an agreement, we could very well see another government shutdown. Meaning, that the US stops paying its debts until further notice. This has happened no less than 20 times since 1976 and usually doesn’t last for more than a few days, but nevertheless remains a scary concept. The feeling at the moment is that there will be a last minute temporary patch that will kick the can into early next year but we’ll see how this plays out. As far as the markets are concerned these type of events only add to the uncertainty. Blockchain Advisor Blockchain advocates have been celebrating the latest appointment to the White House Cabinet. Mick Mulvaney is a well-known supporter of bitcoin and digital assets and his promotion to White House Chief of Staff is definitely a big win for the community. Mulvaney has not only been on record as supportive of digital assets but has even championed two separate bills designed to hasten their adoption. However, the celebration may be a bit overdone. President Trump literally became famous for his catchphrase “you’re fired” and it seems his cabinet is no exception to this. Here’s a website that tracks some of the high profile departures and as you can see there have been quite a few. It seems Mulvaney is no exception either and has already started his term on shaky ground. The top news story circulating this morning is a video in which Mulvaney called Trump a “terrible human being” during the 2016 elections. Of course, efforts are already being made to smooth things over and we wish Mick the best of luck in his endeavors to promote positive blockchain legislation from his new position. In any case, looks like we’ve got a nice surge in the crypto markets in the last few minutes. Looking forward to seeing where this is headed. Have an amazing week ahead!!! This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation. Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose. The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro. eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with thi

11 hours ago

Bitcoin (BTC) Hit $20,000 One Year Ago Today: “Happy Mooniversary”

“Happy Mooniversary,” Yell Bitcoin Enthusiasts One fateful year ago, Bitcoin (BTC), the world-renowned digital asset, hit $20,000 on a majority of exchanges amid 2017’s jaw-dropping, unprecedented “speculmania” that took the entire globe by storm. Now, on December 17th, 2018, a number of crypto’s most prominent commentators have taken to Twitter to commemorate that day in Bitcoin’s relatively short ten-year history. (Altcoin) Thoreau, who goes by the handle “PrintingUSD” in a likely reference to the U.S. FED’s devious practices, took to his following of 23,000 to remind crypto’s segment of Twitter that approximately one year ago, BTC eclipsed the $20,000 price barrier. Just days later, the aggregate value of all cryptocurrencies hit an all-time high of $814 billion. In closing, Thoreau added that he hopes that cryptocurrencies can go to the moon again, subsequently coining the term “Happy Mooniversary.” On this date 1 year ago, the price of Bitcoin topped at around 20.000$ and 814 billion $ in market cap. Happy Mooniversary let's do it again soon. pic.twitter.com/k3qAqnOMG1 — Thoreau (@PrintingUSD) December 17, 2018 Although prominent traders and commentators, like Thoreau, painted their Mooniversary in positive lights, pundits took to Twitter to remind skeptics that this event isn’t a good thing. Peter Schiff, the CEO of Euro Pacific Capital and a diehard fundamentalist, noted that Bitcoin’s recent uptick, which he thought was catalyzed by the Mooniversary, wasn’t worth buying into. Schiff later appeared on Fox Business, discussing his distaste for BTC and cryptocurrencies, while being pitted against Andy Bromberg, co-founder of CoinList, a platform and service for promising ICOs and prospective investors. The traditional markets specialist said that just like stock market investors, “Bitcoin HODLers” don’t want to admit that the bull market is over, clearly touching on the controversial sentiment that continual hope in the crypto market is nonsensical. Schiff then noted that while BTC is young, “it will have a very short life,” adding that Bitcoin’s proposed use case as “money” is “flawed.” The Euro Pacific even went as far as to say that Bitcoin doesn’t have the characteristics of a store of value, and as such, doesn’t have prospects for another ten years. And interestingly, the crypto public at large was mixed at this celebration of what would call a “non-event.” In a Reddit thread, which quickly rose to the top of /r/cryptocurrency’s leaderboards, pseudonymous commenters indulged in the use of humor to douse their pain. One user, who goes by the moniker “Joetromboni,” joked that “there’s going to be a lot of ‘Remindme’s’ showing up in our inboxes,” touching on the fact that one year ago, many traders predicted that BTC would be far above $20,000 today. Others reminisced, stating that last year was a golden time for cryptocurrencies, before making it clear that they missed the unprecedented run-up. Some ignored price talk entirely. Jameson Lopp, a cypherpunk and zealous Bitcoiner, took today’s occasion to remind the cryptosphere about Bitcoin’s inherent value and ability to alter the world — alluding to the fact that fiat values of BTC should be disregarded. Lopp, who is an advocate for a decentralized ecosystem, noted that he, a libertarian and cypherpunks, sees Bitcoin as the “promise of privacy” and “freedom.” You see Bitcoin not as it is, but as you are. Environmentalists see an energy guzzling monster.SJWs see gender & wealth inequality.Economists see an economic system missing pedals for accelerating & braking.Cypherpunks see the promise of privacy. Libertarians see freedom. — Jameson Lopp (@lopp) December 17, 2018 Title Image Courtesy of Brian Garcia Via Unsplash The post Bitcoin (BTC) Hit $20,000 One Year Ago Today: “Happy Mooniversary” appeared first on Ethereum World News.

12 hours ago

BitPay CEO says Bitcoin's Price is Primarily Driven By Speculation

BitPay CEO Stephen Pair believes that Bitcoin is primarily driven by investor speculation rather than utility. Pair made the comments during a recent interview with CNBC and he also revealed that he does not see the mass adoption of blockchain-based currencies occurring for at least another 3 to 5 years. According to Pair, once mass adoption occurs “you can go into a restaurant, a retail establishment, and just everybody’s going to expect that store will be able to accept a blockchain payment.” (RS)

13 hours ago

Blockstream Satellite now provides global coverage

When it comes to good news about Bitcoin, Blockstream is on an amazing streak. Just during the fall of 2018, the company has launched the Liquid Network, the Blockstream.info block explorer, the Simplicity blockchain programming language, and the Esplora source code for Liquid-compatible block explorers. Adam Back, Greg Maxwell, Pieter Wuille, Matt Corallo, Samson Mow and the other folks could have easily taken a break for the rest of the year in order to enjoy the winter holidays. However, just a week before Christmas, they decided to release the biggest announcement of them all: the expansion of its satellite service to cover the Asia and Pacific regions (after previously launching the geosynchronous module which covers Americas, Europe, and Africa). The implications of this project are huge, as these full-node Bitcoin satellites can save Satoshi Nakamoto’s project from its biggest weakness of them all: internet censorship and government shutdown. Conversely, the entire “magic internet money” concept makes no sense in the context that governments are in control of communications within their borders. Internet access can be filtered, blocked, and restricted by arbitrary interventions by authoritarian, crooked, and corrupt politicians. But now, thanks to Blockstream’s efforts, anyone around the world is capable of making Bitcoin transactions without requiring access to the politically-controlled internet that we know. Removing the main fragility of the world’s first and most important cryptocurrency means that the often touted censorship resistance is no longer at the mercy of undemocratic, extremely protectionist, and anti-capitalist nation state legislators. It also means that areas of the world with no internet access can turn into great locations for mining farms. And for Blockstream this is a great opportunity to establish itself as the most important Bitcoin-developing company, which also provides proprietary services and solutions. It’s a win-win situation that’s one of the best Christmas gift bitcoiners could get. As Phase 2 completes worldwide coverage, #BlockstreamSatellite takes #Bitcoin to new heights. Free and private access to Bitcoin #blockchain data is now available to everyone on . Where will Bitcoin go next? Video made by @Pixelmatic! pic.twitter.com/VyEjLRR48X — Blockstream (@Blockstream) December 18, 2018 The satellites and Bitcoin’s immunity to internet censorship You can’t have uncensorable money if your communications can be censored in any moment. That’s why Blockstream has embarked on this journey to secure funding for geosynchronous satellites which orbit the Earth at an altitude of almost 36 thousand km, constantly communicate with teleports on the ground, and allow anyone with a small antenna and a USB receiver to synchronize a full Bitcoin node even when the internet connection isn’t working. And that also implies that transactions can be made seamlessly and without worries about government censorship. Now if anyone wants to kill Bitcoin, they need to breach international law agreements by using sophisticated orbit missiles to take down these satellites - and since Blockstream is a US company whose headquarters are in San Francisco, California, any attack would turn into a declaration of war (well, unless it’s a domestic American initiative). Furthermore, the simple fact that the fully synchronized blockchain is stored in space means a lot for Bitcoin and should grant everyone the self-assurance that Nouriel Roubini is wrong and BTC is not going to zero - at least not as long as there is so much institutional interest to maintain the coin’s immutability and censorship resistance. Additionally, internet censorship is a very big and worrying issue on a global scale. Freedom House’s 2019 “Freedom on the Net” report is subtitled “The Rise of Digital Authoritarianism” specifically because the degree of interventionism has increased on a global scale. Even some of the most democratic and free countries around the world have obstacles to access, violations of users’ rights, and limits on content (for instance, even the United States has passed two new pieces of legislation to extend data collection, surveillance, and further erode privacy: Section 702 of FISA and the Clarifying Lawful Overseas Use of Data Act). Bitcoin is a really important currency in countries suffering from inflation like Venezuela - and if the authoritarian government decides to further filter the internet, the initiative would deprive millions of people of their economic freedom. Just for reference, the South American state is ranked by the Freedom House report just above Russia in terms of internet freedom. This is exactly why the Blockstream satellites are so important for the Bitcoin project. Year after year, internet freedom keeps on diminishing on a global scale. Image Credit: Freedom House When moon? It’s very unlikely that a Blockstream satellite will ever do a lunar landing. However, this kind of news

13 hours ago

Calvin Ayre says Bitcoin's Price will Crash to Zero

Bitcoin Cash co-founder and Bitcoin SV supporter Calvin Ayre has predicted that Bitcoin will drop to zero in 2019. Ayre believes Bitcoin is worthless and once people realize that Bitcoin Cash SV is superior they will abandon Bitcoin. Ayre says he is “predicting it to go to zero value [in 2019] as it has no utility [and] it does not do anything, and they intentionally are anti-scaling.” Without being asked, Ayre reached out to console Bitcoin holders who might be worried by saying, “Bitcoin - the technology and economic model - are alive and well with Bitcoin SV, and it’s going to have an amazing year.” Ayre also suggested that people are foolish to blame the current bear market on the Bitcoin Cash hard fork. He explained that the hard fork was a “distraction” and "the downturn is because the SegWit coin that’s erroneously still called 'Bitcoin' now follows the old-fashioned financial trends.” (RS)

17 hours ago

Expert Opinion: Time to Understand Bitcoin Price Cycles as White House Welcomes Crypto Friendly Mick Mulvaney

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro Key Highlights: Bitcoin total drop now 84.5% Nascency of cryptocurrency making it difficult to find fair value While house welcomes crypto friendly Mick Mulvaney but is it a good news? Bitcoin Price Cycles Cryptocurrency markets have been relentless in 2018. It’s been one year now since bitcoin achieved an outstanding all-time high of $20,155 per coin and today it is testing new lows of $3,122, a total drop of 84.5%. This massive slide in value may seem unprecedented but in fact, retracements of this magnitude have happened no less than four times in Bitcoin’s short history. While all the previous spikes were due to insider information and speculation, the 2017 rise was basically driven by middle class which had turned their savings to cryptocurrencies. In all probability, the next surge is likely to be spurred by Wall Street and institutional investors. The bitcoin futures contracts from CBOE and CME Group were implemented in December, which proved to be too late to catch the last upward cycle. This would explain why the volumes on these contracts have been extremely low so far. Nobody really wants to invest when prices are moving down. While all this is pretty clear, individuals, as well as institutions, are still trying to figure out what its fair value is. Just because crypto assets are such a new concept, everyone is still finding ways to figure out what the value of them should be. All assets in every market go through price discovery, but due to the rapid growth of the crypto industry, this process of price discovery is currently on steroids. Mick Mulvaney at the White House- Is it positive? Blockchain advocates have been celebrating the latest appointment to the White House Cabinet. Mick Mulvaney is a well-known supporter of bitcoin and digital assets and his promotion to White House Chief of Staff is definitely a big win for the community. Mulvaney has not only been on record as supportive of digital assets but has even championed two separate bills designed to hasten their adoption. However, the celebration may be a bit overdone. President Trump literally became famous for his catchphrase “you’re fired” and it seems his cabinet is no exception to this. As there have been some high-profile firing, Mulvaney is no exception here. While Mulvaney has already begun his term, the ground on which he stands is pretty shaky. The top news story circulating on social media since his appointment is a video in which Mulvaney called Trump a “terrible human being” during the 2016 elections. And any further steps by Mulvaney against the President might also put him in the line of being fired. The post Expert Opinion: Time to Understand Bitcoin Price Cycles as White House Welcomes Crypto Friendly Mick Mulvaney appeared first on Coingape.

18 hours ago

Ripple, XRP could trigger the bull run of 2019 and overtake Bitcoin [BTC]

Opinion XRP has been dormant for a very long time and as the end of 2018 approaches, much-needed news about Ripple’s partnerships with major financial institutions have started erupting in the crypto-space. In addition to the above, XRP and cryptocurrencies are being backed by major players in the financial industries, like the managing director and the chairwoman of the International Monetary Fund [IMF], Christine Lagarde, which is a telltale of massive adoption of cryptocurrencies in real-world. Ripple’s Partnerships Ripple made massive partnerships with major banks and financial institutions around the world, like Israel’s GMT, Turkey’s Akbank, MoneyGram, AmericanExpress, CIBC, Earthport, and many more who have the access to use Ripple’s blockchain technology for cross-border payments and more. Akbank announced that it was using Ripple’s blockchain technology [Ripple Net] to transfer the GBP to U.K.’s Santander, another financial services company. This announcement doesn’t clarify that it is not using XRP as bridge currency, but it doesn’t mention that it isn’t either. Moreover, Brad Garlinghouse, the CEO of Ripple, words did come true, but partially because he had said that at least one bank using Ripple’s ‘xRapid’ by the end of the year 2018. More specifically he stated: “I have publicly said we expect this year for at least one bank to use XRP in their payment flows to use xRapid.” With only 14 days remaining for 2018 to come to an end, it feels like this what Brad Garlinghouse was talking about. Apart from the above, there have been rumors in the XRP community that The World Bank could be in close cahoots with Ripple, which sounds too good to be true. However, there is a definitive proof that The World Bank is considering using cryptocurrencies as per the study by Dr. Ramanathan Somasundaram and SM Quamrul Hasan, who are both researchers specializing in government procurement, proposes the development of a blockchain network to boost efficiency across government procurement systems worldwide. Christine Lagarde, the chairwoman of IMF said that “Money itself is changing” referring to cryptocurrency revolution that is incoming. Brad Garlinghouse retweeted with a comment saying: “@Lagarde is absolutely correct: Money itself IS changing. Digital assets not only help to solve the financial inclusion problem, but also the very real issue of a fractured global payments system - it just makes sense that Central Banks would lean in.” With the current banking and the financial system, the transfer of money between countries takes a lot of time and has huge fees, that’s where Ripple comes into play with XRP as a bridge currency. A Twitter user ‘XRP Veteran’ tweeted out an infographic representing the how XRP acts a bridge currency between different world currencies. Fiat currencies have a web of interconnected and inefficient ways to convert currencies, which is subject to liquidity Source: Twitter @XRP VETERAN Using XRP as a bridge currency helps accomplish cross-border payments in a maximum time of 3 to 4 seconds and unlike traditional banks, XRP and Ripple’s technology can be used 24 x 7 x 365. By using Ripple’s xRapid there is a massive reduction in Nostro accounts, which are tedious and expensive, but with XRP, Nostro accounts will be eliminated altogether as banks only need hold the bridge currency which is XRP. In comparison with other cryptocurrencies, Ripple and XRP make the transfer between any currency, any asset and any commodity possible. With all these partnerships Ripple and XRP, in a tag-team plan to take on the remittance and the cross-border payment industry which is worth $155 trillion in total, as mentioned by Navin Gupta. He stated: “Ripple is not an ordinary company... We are here to make a dent in the universe... And that’s the reason six years ago we were born with the mission of moving money like information moves today.” He said cross-border remittances is a $155 trillion problem and that they would solve that problem first, make a difference to everyone in that industry and then move to next industry. XRP spreads its reach Coinbase recently announced that it is adding more than 30 assets to its trading list and XRP was one among them. Coinbase has always been known for scrutinizing an asset thoroughly before adding it to their trading lists. Since that has been thrown out of the window, the cryptocurrency community speculates that it could be due to the bear market wiping off more than 80% of Coinbase’s trading volume since its all-time high in 2018, which was reported by diar, in a research. Furthermore, the community speculates that adding XRP to Coinbase could somehow aid and recover the lost trading volume. Binance’s CEO, CZ also voiced his opinion regarding Coinbase on a Tweet by Joseph Young. Moreover, TD Ameritrade, a 40-year-old brokerage firm stated in a tweet that it is planning to explore addition if XRP. The tweeted stated: “Glad you’re enjoying our content! We’re still

19 hours ago

The 2018 Asia Awards: 5 Western Projects Successfully Making Way into Asia

As you may have read in the last few weeks, we are rolling out a new post series for our Premium readers. It will feature recurring updates on the state of Asia Cryptocurrency and Blockchain. We have come up with 4 high-level topics, and every week we will be writing about one of these topics, and rotating through them in the following order. China (with commentary on recent regulatory trends, media sentiment, and touching on exchanges and company developments)Asia Countries ex-China (with commentary on regulations, media sentiments, crypto projects, exchanges, and company developments)Exchanges And Mining (Binance, Huobi, Upbit, Bitmain, Canaan, etc)Crypto Projects and Funding Trends Check out our previous pieces on China, Japan, Korea, Singapore, etc. This week, we are touching on Crypto Projects and Funding Trends. And as we wrap up with 2018, we are introducing an onetime piece around Crypto projects this week. That is, we look back on 2018 and identify 5 role model western projects that have successfully been making way into Asia. We also recently saw great reception with our Quick Guide to Asia Market Entry - China, Korea, Japan, Singapore post, and we’ve shared a spreadsheet detailing the data here. Check it out and let us know if it’s helpful for you. Thank you for reading. The 2018 Asia Awards: 5 Western Projects Successfully Making Way into Asia Unlike most folks in the industry, we at GCR have been appreciating and enjoying this bear market. We have fewer conferences and less fundraising activities going on, and companies can finally learn how to be resourceful and bootstrap in preparation for this ongoing Crypto winter. At this point in time, many projects in the US are building and looking to fulfill their promises to ship something in the first half of 2019. At GCR, we believe that for protocols and blockchain projects, building technology is great, but not enough. Blockchain technology and token design should be, and indeed continue to be, the priority (for now), but we do not believe it should be the only thing that projects focus on. With the promise of decentralized communities that many projects initially laid out in their visions, we believe that the founding team ought to spend at least 10% of their time thinking about their go-to-market strategy, and where and who their initial adopters would be. On a high level, we are seeing projects falling into 2 paths right now when approaching user adoption. In the 1st path, the project launches locally, then wait for adoption to grow, and then launch in a number of regions around the world, something like an Uber model. And for path 2, the project starts off by simultaneously building communities in various locations around the world, and then launch product and gauge community adoption and participation. Both paths have their pros and cons, and projects may find that one path may fit for them better than the other. We often see projects that are often a technically strong team, have built decentralized products, and want to build communities around the world. However, they don’t know how to go about building global communities or they don’t know where to start. Another reason that often prevents these projects from pursuing path 2 is cost. Going abroad and spending time in foreign countries is more expensive on a time and dollar basis. At least that is the case initially. In either case, for many of these companies looking for adoption, it has increasingly become apparent to them that their first launch market may not be the US, or anywhere near the Western Hemisphere. GCR has a primary focus on Asia, and as a result, we have identified companies who has been actively building out a presence in Asia. There are many projects that do trips in Asia once or twice a year, and certainly commend them for their effort. But given the massive amount of $ that these projects have raised, we don’t think that is enough. At GCR, we evaluated projects that raised money from late 2017 and early 2018. There are a number of standout companies that have dedicated notable resources to Asia and we’d like to recognize them as role models in the space that other projects can look to learn from their successes, and failures. We applaud these companies as we believe they are doing some of the hardest work uplifting local communities, dedicating resources to educate local communities on Blockchain technology, and actively participating and contributing to the regional ecosystems, all the way from the other side of the world. Without further ado, here are the top 5 thoughtful western companies successfully making way into Asia. Tezos Foundation In 2018, GCR is recognizing Tezos and its Foundation for their commitment to promote Blockchain education to young people and in universities in Asia. Tezos and its foundation have had its fair of media spotlight beginning of this year, but in the second half of the year, the foundation has been making way successfully

19 hours ago

The 2018 GCR Asia Awards: 5 Western Projects Successfully Making Way into Asia

Unlike most folks in the industry, we at GCR have been appreciating and enjoying this bear market. We have fewer conferences and less fundraising activities going on, and companies can finally learn how to be resourceful and bootstrap in preparation for this ongoing Crypto winter. At this point in time, many projects in the US are building and looking to fulfill their promises to ship something in the first half of 2019. At GCR, we believe that for protocols and blockchain projects, building technology is great, but not enough. Blockchain technology and token design should be, and indeed continue to be, the priority (for now), but we do not believe it should be the only thing that projects focus on. With the promise of decentralized communities that many projects initially laid out in their visions, we believe that the founding team ought to spend at least 10% of their time thinking about their go-to-market strategy, and where and who their initial adopters would be. On a high level, we are seeing projects falling into 2 paths right now when approaching user adoption. In the 1st path, the project launches locally, then wait for adoption to grow, and then launch in a number of regions around the world, something like an Uber model. And for path 2, the project starts off by simultaneously building communities in various locations around the world, and then launch product and gauge community adoption and participation. Both paths have their pros and cons, and projects may find that one path may fit for them better than the other. We often see projects that are often a technically strong team, have built decentralized products, and want to build communities around the world. However, they don’t know how to go about building global communities or they don’t know where to start. Another reason that often prevents these projects from pursuing path 2 is cost. Going abroad and spending time in foreign countries is more expensive on a time and dollar basis. At least that is the case initially. In either case, for many of these companies looking for adoption, it has increasingly become apparent to them that their first launch market may not be the US, or anywhere near the Western Hemisphere. GCR has a primary focus on Asia, and as a result, we have identified companies who has been actively building out a presence in Asia. There are many projects that do trips in Asia once or twice a year, and certainly commend them for their effort. But given the massive amount of $ that these projects have raised, we don’t think that is enough. At GCR, we evaluated projects that raised money from late 2017 and early 2018. There are a number of standout companies that have dedicated notable resources to Asia and we’d like to recognize them as role models in the space that other projects can look to learn from their successes, and failures. We applaud these companies as we believe they are doing some of the hardest work uplifting local communities, dedicating resources to educate local communities on Blockchain technology, and actively participating and contributing to the regional ecosystems, all the way from the other side of the world. Without further ado, here are the top 5 thoughtful western companies successfully making way into Asia. Tezos Foundation In 2018, GCR is recognizing Tezos and its Foundation for their commitment to promote Blockchain education to young people and in universities in Asia. Tezos and its foundation have had its fair of media spotlight beginning of this year, but in the second half of the year, the foundation has been making way successfully into Asia through partnerships with universities and conducting meetups around Blockchain education. We look forward to more great things coming out from the team. “The Tezos Foundation’s core mission is to support the long-term success of the Tezos protocol and ecosystem. By funding initiatives imagined by scientists, researchers, developers, entrepreneurs, and enthusiasts, the Foundation encourages decentralized development and robust participation.” Since August, the Tezos foundation team has been hard at work in writing research grants, initiating a number of university events and educational meetups in Asia around blockchain and OCaml. They have started forming deeper relationships in a number of cities in Asia through local partnerships and Memorandum of Understanding (MoU) agreements. Some academic areas of focuses have included training students on OCaml, the programming language that Tezos is written in; partnering on a programming book with a professor from National University of Singapore; speaking about technical challenges facing blockchain at National Taiwan University Department of Computer Science & Information Engineering; doing meetup in Japan discussing PoS algorithms; and launching a Masterclass at Nanyang Technological University in Singapore. The project has also set up various meetups in Southeast Asia in cities such as Bangkok and Han

19 hours ago

GRAFT is Providing an Alternative to Credit Card Networks via Real-time Authorizations and Service Provider Eco-system on a Private Blockchain

A recent paper report from KPMG, one of the Big Four auditing firms, says this about the cryptoassets industry: “Cryptoassets have potential. But for them to realize this potential, institutionalization is needed. Institutionalization is the at-scale participation in the crypto market of banks, broker dealers, exchanges, payment providers, fintechs, and other entities in the global financial services ecosystem.” Payment processing is one of the areas where the auditing firm believes emergent institutions are required. The traditional financial system currently faces a challenge of accessibility to payment networks, according to the researchers, adding that the scads of inefficiencies and intermediaries in the current electronic payment landscape make moving money around the world difficult and expensive. For context, consider that the average credit card payment processing fee is about 3 percent per transaction. That’s an average of $3 in fees for a transaction of $100 on the average. For a merchant that does up to $1,000,000 in annual transaction volume, that’s an average of $30,000 paid in fees. It’s even more expensive to wire funds internationally. It’s easier to know how huge this fee can be across board when you consider that MasterCard raked in roughly $6.2 billion in transaction processing revenue in 2017, compared to $5.14 billion and $4.35 billion in 2016 and 2015 respectively. For the nine-month period up to Sept. 30, 2018, MasterCard had already raked in roughly $5.45 billion, compared to roughly $4.51 billion for the same period in 2017. If the holiday season of 2018 supports as much growth as MasterCard saw last year, 2018 would be another record-breaking year for MasterCard with regard to transaction processing fees. Visa Inc., on the other hand, doesn’t clearly tell you what it makes in transaction fees. The card processing company breaks its revenue into four categories namely: service revenue, data processing revenue, international transaction revenue, and other revenue. Visa’s service revenue, $8.92 billion for its financial reporting year, which ended on Sept. 30, 2018, include “revenues earned for services provided in support of client usage of Visa products”. Its data processing revenue, 9 billion for its 2018 financial reporting year, comes from “authorization, clearing, settlement, network access, and other maintenance and support services that facilitate transaction and information processing among our clients globally.” While international transaction revenue, $7.2 billion for the financial reporting year 2018, comes from “cross-border transaction processing and currency conversion activities”. The expensive nature of card payment is evident in how Visa says it generates its service revenue. “Payments volume is the primary driver for our service revenues,” the company said in its most recent annual result. By translation, the higher the cost of the products or services being purchased, the higher the money Visa makes. This suggests that it’s a percentage-based fee. The company’s services revenue increased by over 30 percent between 2016 and 2018. Adding Visa’s service revenue and MasterCard’s transaction processing revenue, it’s safe to say these two payment processing companies alone make over $15 billion in transaction fees annually. As an increasing volume of commerce moves online, this figure is only going to trend higher, especially when you add the other fees that go to the banks. It’s worth pointing out that these increasing fees translate to higher cost for consumers and thinner margins for merchants. Consequently, being able to lower these fees can potentially make merchants more competitive. Here lies the case for a decentralized payment network. Why a Decentralized Payment Network Is Needed Beyond the hype around the industry, blockchain is growing in popularity mainly because of its potential to cut out inefficiencies. These inefficiencies include, but not limited to, lack of data transparency, high cost due to many middlemen, traceability low speed and security. From the above assessment of Visa and MasterCard as well as the note from the KPMG report, the biggest inefficiencies in the electronic payment space include high cost, speed and lots of middlemen. A decentralized payment network could potentially remove these inefficiencies. But since a large part of this piece has focused on the expensive nature of the incumbent payment networks, we’ll be looking at how a blockchain-based decentralized payment network could solve this problem using the GRAFT Network as a case study. Developed by the GRAFT Foundation, GRAFT Network is a decentralized payment network designed to ease the use and acceptance of cryptocurrency at the point of sale. (GRAFT stands for Global Real-time Authorizations and Funds Transfers.) How GRAFT Payment Network Reduces Transaction Fees To understand how GRAFT could help reduce transaction fee, it would help to take a look at how c

a day ago

Cryptocurrency Adoption Increasing As Real-world Transactions Continue to Grow Rapidly Says Weiss Analyst

With only a couple of weeks to go before the year ends, it is probably safe to say by now that 2018 has not been a good year for the cryptocurrency market. The total market valuation, which peaked at more than $800 billion in January this year, is now down to a little over a hundred billion dollars after a series of recent slides. Market Cap or Cryptocurrency Price Not a Good Predictor of Industry’s Future Naturally, the depressed prices of digital coins had some investors worried about the future of the nascent industry. However, an analyst from Weiss Cryptocurrency Ratings says that the market cap is not a good way to measure whether the crypto space is growing or shrinking. Crypto analyst Juan M. Villaverde wrote: “The reality: Market cap is almost entirely a reflection of market price. And price, in turn, is subject to the whims of market cycles and investor psychology.” A Better Way of Measuring the Industry’s Progress According to Villaverde, crypto prices or market cap is affected by investor sentiment and may not necessarily reflect the recent progress happening in the sector. A better indicator of the industry’s future is the adoption of digital currencies measure by actual transactions. Villaverde wrote: “A far more reliable way to track the industry’s progress is with real-world transactions ... which, by the way, are growing by leaps and bounds.” The analyst explained that there are actually two types of cryptocurrency transactions. The first type happens on exchanges and is initiated by speculators, investors and traders. This type of transaction is cyclical, and volume is determined to a large extent by the market’s dips and rises. The second type of cryptocurrency transactions is called on-chain transactions which happen on the crypto ledger itself. These are also called real-world transactions as these are payments using the digital coin - actual usage of the crypto itself. According to Villaverde: “Transactions of the second kind have been growing by leaps and bounds all year long!” People Are Definitely Using Cryptos These Days Take the cryptocurrency EOS for instance. When the year started, the digital coin averaged only 10,000 on-chain transactions daily. These days, however, there are around 6.7 million on-chain transactions for the coin, which is an astounding 67000% increase in just under a year. The rise in crypto adoption is not limited to EOS alone. TRON also posted a dramatic 60,000% rise in its on-chain transaction this year. At the start of 2018, on-chain transaction volume was less than 1,000 but later rose to around 600,000 daily. For investors who are still feeling depressed about how crypto prices turned out in 2018, Villaverde offers a few words of encouragement. The analyst believes that cryptos’ “real-world usage that will ultimately drive up the price of the most widely used cryptocurrencies.” Cryptocurrency Adoption Increasing As Real-world Transactions Continue to Grow Rapidly Says Weiss Analyst was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a day ago

Bibox Buys 100% Share of Decentralized Exchange Dex.top

Bibox, a Chinese digital asset exchange, has acquired 100 percent of shares in Dex.top, a decentralized ERC20 exchange that also operates from Beijing. Officials refused to discuss the price of the deal, saying it was “private.” Bibox, which handles $236 million of trading volume daily, said Dex.top will help expand its product offering. Also read: U.K. Cryptocurrency Exchange Cubits Shuts Down After $33M Scam ‘Trying Something New’ The Beijing-based Bibox exchange runs 10 operation centers in countries such as the U.S., Canada, Singapore and South Korea, allowing users to trade BTC, BCH, ETH and other cryptocurrencies. The latest acquisition is Bibox’s second in five months. In May, the Chinese exchange bought Chain Capital, a Swiss company which owns a special license to conduct digital currency business in Europe. “This acquisition [Dex.top] signifies that Bibox is now trying something new in the field of digital assets,” Bihui Lin, spokeswoman for Bibox, told news.Bitcoin. She said the deal will “not only improve Bibox’s ecosystem establishment in blockchain but also provide users with more trading options.” According to data from Etherscan, Dex.top is the world’s second largest decentralized exchange by trading volume, accounting for 21.3 percent of the global total. IDEX is the largest, with 46.4 percent of all volume. Launched in May, Dex.top promises cross-chain trading, “a mechanism that leverages synchronized off-chain and on-chain ledgers to enable instant trading while ensuring the security of traders’ assets.” ‘Meeting of Minds’ Dex.top said it had “discovered a meeting of the minds in Bibox.” In a statement on Dec. 17, the company stated: Both projects share a common vision of developing an outstanding trading experience with robust trading features while ensuring transparency and the security of users’ assets and data. It added that “this acquisition will create synergistic relationships that will help both projects go further.” Jeffrey Lei Bibox has developed into one of the most popular exchanges in the world just a year after it was founded by Jeffrey Lei, the co-founder of Okcoin. With over one million users, the company is planning to open fiat-to-crypto exchanges in Seoul, South Korea, and Europe, supporting trading pairs such as the Swiss franc, English pound and euro among others. Digital currency exchanges are looking for growth in new areas or to consolidate existing positions to help boost revenue and minimize risk from an uncertain regulatory environment in their home economies. What do you think about Bibox’s latest acquisition? Let us know in the comments section below. Images courtesy of Shutterstock, Bibox and Dex.top. Need to calculate your bitcoin holdings? Check our tools section. The post Bibox Buys 100% Share of Decentralized Exchange Dex.top appeared first on Bitcoin News.

a day ago

As we go live with our first South African exchange listing,...

As we go live with our first South African exchange listing, we thought we'd share some South Africa fast facts - o… https://t.co/igEERXopJV

a day ago

Rags to Riches to Rags - How One Bitcoin Enthusiast Made $1.2 Million and Lost It All

Numerous Bitcoin investors saw their wealth growing during the crypto frenzy last year, as Bitcoin’s price reached unprecedented highs. Hodlers attended crypto events around the world, arriving with their shiny Lamborghinis and Ferraris to show off the massive riches, cryptocurrencies had brought them. Peter McCormack is one of those people who went all-in with Bitcoin and lost everything, a story on which many could visualize themselves. In a thread on Twitter, he shared his experience from going bankrupt to becoming a millionaire and then back to losing everything. Going All in on Crypto Fueled By Greed and Ambition 1/ So here is a thread on how I turned $32,000 into $1.2m and back to pretty much zero (once taxes are paid). Just note, I am not bitter or salty in any way at all, the last 2 years have been an amazing ride - travelled the world, been wealthy, been poor. — Peter McCormack [Jan/3➞₿ ∎] (@PeterMcCormack) December 13, 2018 With 20 years of professional experience in digital marketing, he owned an advertising agency which generated £3m annual turnover at its peak. Both McCormack and his 35 employees were left without a job after his company defaulted in 2016. 2/ Dec '16, my advertising agency folded, I had a little bit of money left and I put $32k into Bitcoin and Ether. As it started to go up I diversified into everything, Monero, Dash, this that, any crap - even Ripplecoin. Everything just kept going up. — Peter McCormack [Jan/3➞₿ ∎] (@PeterMcCormack) December 13, 2018 McCormack, who was dealing with his mother’s fight against cancer at the time, decided to invest a part of his savings ($32k) on Bitcoin and Ethereum. McCormack maintained a conservative investing strategy initially, withdrawing 25% of the profits frequently. By summer 2017, his equity had reached $500k, and the capital gains seemed unstoppable. McCormack then became greedy (as he says) and invested all his savings in creating a diversified portfolio of altcoins. 3/ By March I think I had around $300k and $500k by the summer. I used to take 25% out but towards the end of the summer I got greedy and put it all back in and by December it was $1.2m. — Peter McCormack [Jan/3➞₿ ∎] (@PeterMcCormack) December 13, 2018 Dazzled by the wealth he generated so quickly, his life and spending habits soon changed. He started purchasing expensive clothes, traveling business-class and donating his money to family and charity. Cryptocurrencies were growing so rapidly, that he was even making plans to acquire his favorite football team in England. McCormack was caught up in the hype and cryptos became his full-time employment. Besides trading the highly volatile cryptocurrencies, he further invested $300k in mining hardware (70 S9s and 70 DragonMints) and joined mining pools. Moreover, he started offering consulting services to traders and launched his podcast, which remains his only income source until now. 10/ So basically greed and over ambition have destroyed what could have been life-changing money. After I pay my tax bill pretty much all is gone. The good news - I have the podcast which is now generating an income, something a little more reliable — Peter McCormack [Jan/3➞₿ ∎] (@PeterMcCormack) December 13, 2018 By the end of 2017 when Bitcoin reached its all-time high at $20,000, his assets were valued at $1.2 million, a point McCormack regrets he didn’t withdraw his massive profits. As Bitcoin had previously crashed and recovered several times, McCormack believed the same would happen again. He claims with certainty that experienced investors could have forecasted that a market crash was about to happen. However, he added: “any sensible investor should have been taking money off the table when making such huge profits. There were though, many like me who just got caught in the hype and expected it to carry on.“ Only Debris Left After the Stardust Settled Bitcoin has plummeted but not recovered since. Instead, it has undergone several price drops, and investors have suffered tremendous losses. Bitcoin mining is not profitable anymore, and mining companies regularly shut down, trying to get rid of their costly ASIC rigs. McCormack has decided to liquidate his holdings and terminate his active contracts with data centers that drain his BTC balance every month. 7/ Mining made money for one month, broke even for a month and has consistently lost since. Problem is I have been stuck in data centre contracts paying a fixed 18 cents fee. Each month digging into my BTC to pay the bills. Finally paying $19k to release from the contract. — Peter McCormack [Jan/3➞₿ ∎] (@PeterMcCormack) December 13, 2018 McCormack Now Retired From Trading McCormack’s Bitcoins will be gone after he pays out a large amount for his tax liabilities. In addition to the financial disaster, his involvement with cryptocurrencies also led to a broken marriage, as well as his addiction to drugs. Although he has accepted this venture as a failure, McCormack does not fee

a day ago

How Ripple Will Get The SEC To Look The Other Way

When it comes to the SEC, Ripple plays the long game. While most token issuers are likely to take a plea deal, following the examples of Airfox and Paragon, there’s another way out for digital assets. By rapidly pushing their cryptocurrencies to full functionality, crypto companies like Ripple can create enough “Facts on the ground” to escape a securities classification altogether. Ripple may be too big too fail. But in case that’s not enough, the company is rapidly becoming the kind of prey that’s just... too much trouble. The Hinman Paradox The possibility of “decentralizing” an entity out of being a security was outlined at the Yahoo! Finance summit, when the SEC’s William Hinman publicly stated that treating ether or bitcoin as securities “would seem to add little value.” “Over time,” Hinman added, “there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required.” An SEC director is not under oath when he’s entertaining a paying audience, and a footnote to the speech makes clear that he was not speaking in an official capacity. Nonetheless, with other SEC officers reprising the same themes, Hinman’s speech is as close as we’re going to get to regulatory clarity right now. And that speech suggests that a handful of advanced cryptocurrencies can escape a securities classification by becoming sufficiently developed and distributed that they no longer depend on central efforts. James Park, in a report for the Lowell Milken Institute, refers to it as the “Hinman Paradox:” [F]or a utility token to be distributed freely without regulation by the securities laws, it must be functional. But many utility tokens are only functional if they are distributed widely enough so that a de-centralized system arises. Very few initial coin offerings, Park suggests, will ever be sufficiently decentralized to escape the Hinman paradox, and the Ripple question is not addressed. But, based on what is publicly known of the SEC’s enforcement strategy, XRP is one of the best positioned to become decentralized enough to pass the Howey Test. XRP: A Functional Utility? The words “utility token” have acquired a sour taste, and for good reason. Over the past year, it has been badly misused by ICOs in search of easy money. The fallacy, as SEC officials have made clear since 2016, is that almost every case the “utility” is on a non-existent platform. While regulators like Hinman and Valerie Szczepanik have entertained the possibility of utility tokens that are not securities, the vast majority of ERC-20’s definitely are. But unlike most purported “utility tokens,” XRP already has almost all of the functionality it needs. Unlike most ICOs, XRP isn’t intended for anything other than a system for payments and settlements—the platform is already functional. Anyone can use XRP for purchases or payments, and —after the xRapid launch—XRP is also in use for cross-border liquidity. Sharing the Weight Then there’s the question of “decentralization,” a thorny point of contention between Ripple and other cryptocurrencies. Decentralization is one of those words with nearly as many different definitions as it has users—but when the SEC uses it, it’s clear that they are referring to management. In his speech, Hinman pointed out that both Bitcoin and Ether are large communities with many companies, all working (and competing) together. That can’t be said for Ripple - as much as the company insists otherwise, the fate of XRP seems to depend very much upon the company’s “managerial” efforts. Crucially, that is already starting to change, after this year’s announcements that Omni and Coil will both facilitate payments in XRP. Both companies have strong ties to Ripple Labs, but are nonetheless separate and independent entities—giving a better claim that XRP depends on a market ecosystem rather than a single company. Dollars and Cents The final prong of this strategy comes down to nuts and bolts—and lawyer fees. While the SEC has not ruled anything out, all of its recent enforcements have been against tokens that launched after the 2017 DAO report - when the body first warned that tokens could be securities. In the words of Coinsource’s Deputy General counsel Max Rich, they’re “putting out current fires rather than attending to the charred remains of old fires.” That doesn’t mean there’s a pardon in the mail for Ripple, but does offer a breathing space while regulators go after the lowest-hanging fruit—both in order to develop a stronger body of case law, and (perhaps a cynical point) to take advantage of the SEC’s limited resources. This shouldn’t be taken as an argument that XRP is not a security. To the contrary, the fact that many investors regard Ripple Labs as the central actor for of XRP—not to mention the enormous centralization of tokens in Ripple’s hands—makes things look very bad indeed. But that doesn’t mean the game is up. As stated in

a day ago

Ethereum [ETH]’s Vitalik Buterin: There has been a huge progress in decentralizing Ethereum already

Vitalik Buterin, the co-founder of Ethereum, the third largest cryptocurrency by market cap, spoke about Ethereum being decentralized, in an interview with Blockchain Insider. Buterin started by speaking about Ethereum being centralized around him and how to get to decentralization. According to him, there has already been a huge progress in terms of decentralization. For this, he quoted the example of the concrete governance actions that happened in the last 12 months. He said: “Number one, like a lot of the features in the constantinople hard fork that are launching in January basically happened without me. Number two, issuance reduction from 3 ether to 2 ether which is going into Constantinople, I was not involved at all.” Recently, the core developer of Ethereum, Peter Szilagi announced that Constantinople hard fork will take place on #7080000 block around January 16, 2019. The hard fork advocates five Ethereum Improvement Protocols [EIP]s, including the implementation of the reduction of block mining reward issuance and delaying the difficulty bomb for 12 months. The decision to reduce the block reward was taken by the teams in order to reduce the inflation rate, effectively cutting the reward by 33%. Buterin went on to say that the “Ethereum 1.x, short-term scalability improvements that are going on to the main chain before we can switch over to sharding, that whole effort started without my involvement at all.” Ethereum 1.x is an upgrade of the network, which could go live in June 2019. The update proposes a replacement of the Ethereum Virtual Machine, and introduce rent for the smart contract. He further added the actual implementation of Casper and Sharding is carried out by five different teams, whereas he is involved in writing the spec. He said: “So I mean I would not have been able to confidently say this 18 months ago but I really do feel like the community is that if capable of acting autonomously at this point I mean that’s definitely not to say that I’m looking and disappearing that so that’s the thing that the trolls generally tends to interpret you saying what I say things like this but I’m definitely not disappearing” The post Ethereum [ETH]’s Vitalik Buterin: There has been a huge progress in decentralizing Ethereum already appeared first on AMBCrypto.

a day ago

Danish Bitcoin traders targeted for tax payments

The Danish population may be considered as the happiest one in the world, but that happiness may not translate into the future some of the Bitcoin traders will be facing soon. According to a press release on Dec. 10 by Denmark’s tax agency Skattestyrelsen. More than 2,500 individuals will have to pay-up their due taxes on Bitcoin gains. The reason why these people are being targeted just now is because they didn’t use a local cryptocurrency exchange, therefore they were a bit harder to track down. The Danish citizens used the services of an unnamed Finnish crypto exchange. All of the services occurred between 2015 and 2017. The reason the tax agency is “hunting them down” is because they didn’t declare any of their profits. This may turn into an unhealthy habit as Danish traders may opt for CFD cryptocurrencies in the future with Norwegian Forex brokers here, as they will not be part of the EU jurisdiction, making it a lot more easy to access the market. On the Hunt All of this was enough cause for Skattestyrelsen to go out and track these individuals down, in order for them to pay what they’re due. But the fact is, those Bitcoins gains are either gone when compared to 2017 figures or just cashed out and re-invested somewhere else.Karin Bergen, who is the tax director of the country announced that at this very moment, the resources of the agency are directed towards identifying and tracking down these individual citizens. All of this indicates that those 2,700 people aren’t the only ones on the radar. There are still more to be found. However, Bergen did add that nothing serious is in mind at this point. The only thing the agency will do is contact these individuals and just gather information, to make sure the sources align. They still cannot confirm the exact number of these Bitcoin traders. Finland to the rescue? By a source, we mean the Finnish tax authorities. The crypto exchange where the trades were conducted have not been named, but it is already known that the Danish tax agency was indeed alerted by the Finnish.According to the documents, the traders involved in this massive Bitcoin investment spree, have spent more than $7.5 million on the coin and have gained more than $8 million in total. Not that much of a surplus when you look at it.This is not something to be scared of for Bitcoin holders in the country. Like anything else, comply with the local law and you’ll be fine. However, Denmark does indeed send some mixed feelings about cryptocurrencies. As of now, the country has quite a lot of businesses that accept Bitcoin as actual payments as an alternative to Krone, the country’s fiat currency, while banks like Nordea ban their employees to own crypto in general. Quite the conundrum. Image source: rsf The post Danish Bitcoin traders targeted for tax payments appeared first on Zerocrypted - Your Daily Cryptocurrency News, Guides And More.

a day ago

Ponder: Exciting for Investors, Fun for Users

CoinSpeaker Ponder: Exciting for Investors, Fun for Users Ponder, a blockchain-based developer of gamified referrals platform, has already gained the support of some serious backers. The Times Group, through their strategic investment arm Brand Capital, and the Drapers, the famous Silicon Valley VC family, found their concept compelling and promising. The idea behind the project is to make it fun and gratifying to refer friends and acquaintances to job openings, business opportunities, and even potential life partners - all areas in which we won’t mind a little help from a friend. If a referral proves successful, the referring person gets a financial reward. Brand Capital’s financial backing of Ponder will launch the startup in the Indian market and help it dramatically expand its user community. The startup is being promoted by the Republic, a crowdfunding platform that was created in 2016 as an investor-friendly, easy to use platform to make investing in tech startups accessible to non-accredited investors. Minimum investment in Ponder is $100, and investors are protected by the Republic’s Crowd SAFE instrument. Ponder has already received $1.6 million in seed funding from larger investors and is now opening this opportunity to a much broader group of small and large angel investors who find their idea timely. The platform is made for busy individuals and companies that want to make quality connections. Unlike traditional matching applications, Ponder gets trusted friends and contacts to play matchmaker, using game mechanics and financial rewards as motivators. Ponder addresses a major issue in several important industries - dating, job referrals, and business referrals. All of these markets rely on algorithms when in fact human involvement can be instrumental. Take dating, for instance. Even the smartest AI technology doesn’t know if John is really the right guy for Marsha. But someone who really knows and cares about Marsha, when they see John’s profile, will think of her and, using Ponder’s game interface, will connect the two profiles. If the match works, the referring friend gets $10 - and happy friends to boot. Isn’t it fun?! The same principle applies to the project’s job and business referral components, only the matchmaker’s reward amount goes up, while the employer’s expense on new hires go way down. Ponder has already secured a strategic partnership deal with recruiter.com. The startup’s potential addressable market is vast - $80 billion, so there is a lot of exciting work ahead for Ponder. But as Lao Tzu said, “The journey of a thousand miles begins with one step.” In Ponder’s case, they are well on their way with their 80 thousand registered users who enjoy playing fun and challenging games while also putting their intelligence to good use and making some money. The company’s public sale started on July 1, 2018 and will run until March 28th, 2019. Ponder: Exciting for Investors, Fun for Users

a day ago

Switzerland Working on Major Changes to Develop Pro-Crypto and Blockchain Legal Framework

The Swiss government has recently announced that it would take a new direction regarding its position on the use of cryptocurrencies and blockchain technologies, working out a strategy to create an appropriate legal framework to allow such technologies to flourish. In an official report released this Friday, the government recognized the importance of blockchain technologies as critical tools to promote the development of the country’s economy: “(Blockchain Technologies are) among the remarkable and potentially promising developments in digitalisation. It is predicted that these developments have considerable potential for innovation and enhanced efficiency, both in the financial sector and in other areas of the economy. Switzerland: Using Crypto and Blockchain Technologies to Boost Its Economy The strategy seeks to incorporate the use of tokens in various sectors of the country’s politics and economy. One of the most significant proposals tries to clear away regulatory hurdles for trading securities (such as shares, bonds or real estate) on blockchain platforms. Switzerland is one of the most important blockchain hubs in Europe. Not only have a significant number of startups with several hundred million dollars in investments been established, but the Swiss Central Bank itself has shown interest in the use of cryptocurrencies to promote the national economy. The measures announced by the Swiss government attracted a positive reaction from investors and users. One example is Mattia Rattaggi, member of the Crypto Valley Association, who shared his impressions via email : We feel that this approach best represents the principle of technological neutrality and is in line with the position taken by the CVA in the consultation process ... Crucially, this approach ensures maximum consistency within the current legal framework while keeping it principle-based and flexible, while allowing changes to be adopted on a ‘need-to-regulate’ basis. What is Switzerland Trying to Do? According to Swissinfo, the innovations proposed by the Swiss government are quite numerous and will subsequently require hard work on the part of Swiss legislators to be shaped up as a holistic policy and not merely isolated changes: Amend company bankruptcy laws to recognise data as an asset. This would allow courts to handle purely digital assets, and make sure they go to the right creditor, when sorting out insolvent firms. Amend the Banking Act along the same lines as above in the case of a financial institution going bankrupt. Amend the scope of the Anti-Money Laundering Act to cover decentralised exchanges with the power to dispose of third-party assets. Create a “new authorisation category” for blockchain securities traders and exchanges to give FINMA discretion to apply a lighter touch when assessing the activities of such entities. Amend the Financial Market Infrastructure law and the Financial Institutions Act to “create more flexibility” for blockchain/DLT applications. The finance ministry is already looking into a Collective Investment Schemes Act amendment to include a new category of funds (limited qualified investment funds L-QIFs) so that “new innovative products could be placed on the market more quickly and cost-effectively in the future”. No immediate changes to financial laws for the insurance industry are immediately foreseen as blockhain/DLT is in its “infancy” in this sector. The report also sees no reason to change any legislation with regards to cryptocurrencies. The post Switzerland Working on Major Changes to Develop Pro-Crypto and Blockchain Legal Framework appeared first on Ethereum World News.

a day ago

KlickZie

KlickZie Airdrop is worth 16 KLK tokens (~$12) for the first 12,500 participants. About KlickZie KlickZie is a network that transacts the world' s household consumption of goods and services via KlickZie' s patented Augmented Reality ArKs and Trusted Digital Files.This network also unlocks the global market economy for 3 billion smartphone users, participates in the 48 trillion dollar (US) world household consumption of goods and services and monetizes the untapped pictures, videos and social interactions of smartphone users. Their mission is to be next generation fast blockchain for everyone. Would you like to receive the latest free Airdrop Alerts? Join our Airdropalert Telegram. How to join KlickZie airdrop? Go to the KlickZie Airdrop form. Sign up for KlickZie Wallet Join KlickZie on Telegram. (+6 KLK, rewarded but not mandatory) Follow Tautachrome_Inc on Twitter and RETWEET one Klickzie Tweet. (+5 KLK, rewarded but not mandatory) Like Tautachrome on Facebook. (+5 KLK, rewarded but not mandatory) Submit your Ethereum wallet address and details to the KlickZie Airdrop form. If you use the ''CLAIM AIRDROP'' button below to claim the KlickZie Airdrop, it will automatically show on the main page with a purple check mark. So you can easily track which airdrops you joined and which ones you need to join. If you liked KlickZie Airdrop, also check out Betking Exclusive Airdrop.

a day ago

The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched

In The Daily on Monday, a new digital coin project targeting the ‘Yellow Vest’ protesters is promising censorship-free crypto transactions. Also, a regulated security token trading platform is now live in the U.S., South Korean internet giant Kakao invests in an Israeli startup, and crypto exchange Abra is giving away bitcoins for Christmas. Also read: Trump Chooses Bitcoin Advocate as Chief of Staff, Congressman Proposes Wall Coins ‘Get Your Freedom Back!’ A new digital token project using symbols associated with the Yellow Vests (Gilets Jaunes) protestors in France has been devised. The creators of the Gilet Jaune Coin (GJCO) claim their main goal is to support what has become an international movement “in the legitimate struggle of nations to self-determination, and the reconquest of their economic, territorial, and monetary sovereignty.” The coin’s website is littered with slogans such as “Get your freedom back,” “Long live the Gilets Jaunes” and “The people will not be sacrificed on the altar of debt!” It also abounds in promises and calls like “We will be listed on exchanges soon,” “To stay united, you should mine on our own pool” and “We invite you to buy a Gilet Jaune Coin wallet.” The project’s team claims the coin is inspired by Bitcoin and based on Ethereum, and insists GJCO is easy to use and “perfect for transactions... at ridiculously low costs.” The developers of the new crypto further assure the public that the Gilet Jaune Coin is censorship-free and fraud-resistant, stating that its use is “recommended during the fight against the banking oligarchy, seeking to enslave us!” It’s unclear whether the digital coin is actually related to the Yellow Vests Movement. The social media links on its website do not lead to real accounts, but coin’s Telegram channel now has over 90 members. The Mouvement des Gilets Jaunes demonstrations, which started as a protest against increased fuel prices in France this past November, have spilled over to other EU countries and even Turkey and Iraq. Protesters have also raised a number of demands related to socio-economic problems such as low incomes and government corruption. Regulated Security Token Trading Platform Now Live Open Finance Network (OFN), a security token trading platform regulated in the U.S., announced it’s transitioning from beta to full trading functionality. According to a blog post on Medium, one of the security tokens available to trade at launch is Blockchain Capital (BCAP). Blockchain Capital is a tokenized venture capital fund focused on digital assets. OFN notes that this is a compliant security token offering. The platform is now available to both accredited and non-accredited investors in the United States and other markets. It implements a one-time verification procedure through an application called Investor Passport that allows users to invest based on their eligibility. Open Finance Network has also developed its own security token standard called the Smart Securities Standard in order to be able to offer both token issuance and secondary market trading. Kakao Invests in Israeli Startup Orbs South Korean Internet giant Kakao Corp. has invested in the Israeli crypto startup Orbs through its venture arm, Kakao Investment, Reuters reported. Kakao, which is South Korea’s largest messaging app operator, announced earlier this year its plans to establish a unit focused on blockchain technology. Orbs, which did not disclose the size of the investment, said the funds will help it grow and build on its existing partnership with the Kakao blockchain subsidiary Ground X. The two companies are already working together to develop applications of crypto technology. Abra Giving Away Bitcoins for Christmas Digital asset exchange and crypto wallet provider Abra has decided to cheer up crypto enthusiasts during the bear market with a Christmas promotion. The platform is now giving away $25 of BTC to new investors for its ETF-style token called Bit 10. To be eligible for the crypto cashback, however, users have to buy at least $1,000 worth of tokens before the end of this month. And there’s another catch, according to The Next Web - Bit 10 is a market tracking index token that can be purchased and sold only through the Abra app. The token tracks the top 10 cryptocurrencies each month, which means its value will only go up in a bull market, but may struggle in the current one. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock, Gilet Jaune Coin. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched appeared first on Bitcoin News.

a day ago

DOGE/USD Uptrend Shows Dogecoin Remains Bullish

As is usually the case when the weekend transitions into a new week, there is a bit of bearish market pressure to contend with. Even Dogecoin, a currency renowned for its stability first and foremost, is suffering from a minor loss in the Bitcoin department. Its USD value remains rather stable at $0.0022, for the time being. Dogecoin is a Good Doge When it comes to looking at the different cryptocurrencies on the market today, there is plenty of volatility to be discovered. That is the true nature of these volatile assets, but it seems the year 2018 has put a different spin on this aspect altogether. For Dogecoin, the year 2018 hasn’t been all too promising either, although the altcoin still excels in terms of price stability and maintaining its overall market cap through Q3 2018. Over the past 24 hours, however, it seems there is some interesting market pressure to be noted. The DOGE/USD ratio remains in the green following another 2.3% gain. As such, its price level of $0.002173 can be maintained, albeit a small correction might materialize soon. The DOGE/BTC ratio has suffered a 1% net loss, but that is not necessarily a bad thing either. This small loss can easily be overcome with a bit more trading volume. On social media, there are always multiple Dogecoin-related discussions to keep an eye on. It would appear user Kramavich has successfully resolved a lingering issue regarding his Dogecoin balance being stuck for quite some time. Although an 11-month waiting period is never acceptable, it is better to see these matters resolved in the end rather than not at all. Cryptonator will also resume its Dogecoin services in the coming hours, by the look of things. Wow i still cant believe it,but my #dogecoin has arrived in my wallet today,since January,,better late than never,just to stay positive,, but geee 11 months is a long wait — Kramavich (@JustinMcConachy) December 17, 2018 When it comes to exploring the Dogecoin price across multiple trading platforms, it usually becomes apparent there will be some gaps to explore. As such, there will be some interesting arbitrage opportunities to explore in this regard. Moving funds between Koineks, Gate, or Livecoin can easily yield a 1% profit. A very interesting opportunity to explore, especially with the DOGE/BTC ratio fluctuating a bit. #DOGEBuy at #Koineks and sell at #Gate.io. Ratio: 1.05%Buy at #Koineks and sell at #LiveCoin. Ratio: 1.17%#bitcoin #arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC — Arbing Tool (@ArbingTool) December 17, 2018 When the discussion turns to Dogecoin,a good meme will usually pop up out of nowhere. Dogecoin Memes has been a rather fantastic Twitter account in that regard, as there are plenty of images and GIFs to enjoy. This latest meme shows the Dogecoin NASCAR car, which made a few headlines several years ago. It is another example of how the Dogecoin community made good things happen in the past and may continue to do so moving forward. #Dogecoin #memes #crypto #cryptocurrency #doge #tothemoon #wow #moonsoon #dogecoinmoon #thatishot #realhot #youtuberewind #willsmith pic.twitter.com/zcYAVhoKOB — Dogecoin Memes (@DogecoinMemes) December 17, 2018 Although the Dogecoin trading volume doesn’t look all that impressive right now, there is still some positive momentum to go around. As such, there may be a further uptrend in the DOGE/USD ratio, albeit the DOGE/BTC ratio may slowly drift to the 60 Satoshi level once again. There is some interesting momentum regardless, depending on how people want to look at the current situation. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post DOGE/USD Uptrend Shows Dogecoin Remains Bullish appeared first on NullTX.

a day ago

Hong Kong Stock Exchange Ruins Bitmain’s Plans for an IPO

CoinSpeaker Hong Kong Stock Exchange Ruins Bitmain’s Plans for an IPO The current situation in the crypto market doesn’t seem to be very optimistic. Numerous companies feel the pressure of the bear market and need to take some measures. One of the examples of such companies is Chinese crypto miner Bitmain. Last week Coinspeaker reported about the company’s decision to shut down its Israeli Development Center. Though the center used to rank among the largest companies in the whole blockchain industry, the prolonged bear market had enforced the company to take such a decision. But it was not the end of bad news for Bitmain. Failed IPO Plans As it has become recently revealed, due to the extremely high crypto market volatility, the Hong Kong Stock Exchange (HKEX) is reluctant to approve Bitmain’s IPO. In September, Bitmain joined the row of two other mining giants, Canaan Creative and Ebang, that had filed their applications to sell their shares on the HKEX. At the time of applying for holding its IPO, Bitmain was planning to focus on new mining hardware and expanding its geography via the acquisition of new lands for placing crypto mining farms there. But the ongoing year has turned out to be rather unpredictable for the crypto industry. That’s why the HKEX isn’t willing to list crypto companies. The report cites a person who preferred to stay unnamed due to the nature of the information revealed: “The exchange is very hesitant to actually approve these bitcoin mining companies because the industry is so volatile. There’s a real risk that they could just not exist anymore in a year or two. The HKEX doesn’t want to be the first exchange in the world to approve this and have one die on them.” Nevertheless, there are no any official comments neither from the side of the exchange nor from the side of Bitmain. IPO in Hong Kong Though Bitmain wasn’t the first crypto company to file its application to go public, it had all chances to be the first one to succeed. According to the local rules, after an applicant files a draft prospectus with the HKEX, the application should be approved by the HKEX and the Securities and Futures Commission. After that, a listing hearing should be held. Only following this procedure the company may go public. Nevertheless, there is only a six-month time limit to pass all the steps, otherwise, the application will be considered to be inactive. As Canaan filed its application in May, its application has already lapsed and only two weeks are left for Ebang. But there are no evidence for success right now. Nevertheless, Bitmain still has some chances to convince the exchange, though it doesn’t look like to be very easy. First of all, the HKEX should see that the market will get over the current downturn. And secondly, Bitmain should convince the stock exchange that it itself is a strong company that will survive despite all market conditions. Hong Kong Stock Exchange Ruins Bitmain’s Plans for an IPO

a day ago

Konkrete

Konkrete Airdrop is worth 200 KKT tokens (~$ 146) to airdrop participants. Share your referral link to earn 200 KKT tokens (~$ 146) for every referral. Also, Konkrete is airdropping 30,000 USD worth of KKT tokens for the Bounty Follower campaign. Receive 1 stake each week for each platform that you are following until the end of the campaign. About Konkrete Konkrete is the brainchild of two entities, Collective Campus and EstateBaron, an Australian leading equity crowdfunding platform for property development open to retail investors. Konkrete seeks to solve the global housing affordability crisis by creating a fractional co-ownership platform on the Blockchain allowing users to crowdfund their home deposits. Konkrete is rated 2.6/5 on ICO Bench. Would you like to receive the latest free Airdrop Alerts? Join our Airdropalert Telegram. How to join Konkrete Airdrop? Login to the Konkrete Airdrop page. Go to your profile and submit your KYC for approval. Join Konkrete on Discord. Follow Konkrete on Twitter. Follow Konkrete on Facebook. Follow Konkrete on Medium. Submit your details to the Konkrete Bounty form. Share your referral link to earn additionals 200 KKT for every referral. If you use the ''CLAIM AIRDROP'' button below to claim the Konkrete Airdrop, it will automatically show on the main page with a purple check mark. So you can easily track which airdrops you joined and which ones you need to join. If you liked Konkrete Airdrop, also check out Betking Exclusive Airdrop.

a day ago

Crypto Analyst: Ethereum (ETH) Investment Thesis is “Questionable”

Although the crypto market, in general, has undoubtedly had a bad year, some digital assets have had it worse off than others. Bitcoin’s (BTC) ~83% decline from its all-time high is mere peanuts, especially when compared to the 94% loss that Ethereum (ETH) has undergone. ETH has fallen so far from its high horse that the market capitalization of XRP, Ripple’s go-to asset, has surpassed that of Ether. While many optimists believe that this discrepancy is a buying signal for Bitcoin’s former right-hand man, so to speak, a handful of analysts have declared that the asset’s harsh drawdown is justified. ICO Season Dries Up, DApps Fail To Gain Traction In early-2017, as Ethereum became a household name in the cryptosphere, investors began to manufacture an investment thesis surrounding ETH. Due to the abounding popularity of initial coin offerings (ICOs), and Ethereum’s ability to effortlessly facilitate such projects, ETH quickly became the de-facto king of token sales. And as such, as the ICO subset boomed, so did the value of Ether. While ICOs became an industry flavor of the month, so did decentralized applications (dApps), with Ethereum, again, becoming a hotspot for this distinct application of blockchain technology. Initially, as 2017 came to a close, everything seemed fine and dandy for the originally Canadian project, as investors continued to launch money at Ethereum-centric startups for the promise of ground-breaking platforms. Yet, once 2018 rolled around, it near immediately became apparent that these startups’ promises weren’t worth their water. Newfangled dApps were underwhelming, with many criticizing such initiatives for missing key functionality and falling victim to glitches. ICOs realized their promises were baseless, before coming under fire from key regulatory agencies — namely the U.S. Securities and Exchange Commission. Related Reading: In EtherDelta Case, SEC Hints Most Ethereum Based Tokens are Securities In short, the bottom line is that Ethereum, including its ICO and dApp constituents, hasn’t lived up to the test of the dismal market conditions, making lower valuations for Ether sensical. In a recently-published 14-part Twitter thread diving deep into the current state of the Ethereum Network, Alex Kruger, a crypto-friendly markets analyst based in New York, echoed this sentiment. Kruger, who has expressed cynicism towards altcoins historically, claimed that ICOs got caught up in the “fragrance of easy money,” and began touting outrageous ideas for tokens. Of course, little-to-zero of these ideas came to fruition, creating an environment where there wasn’t valid demand for ETH. As alluded to earlier, dApps didn’t pose much better of a value proposition, as made apparent by the lack of daily users on even the most enticing smart contracts, like CryptoKitties, Augur, or the countless number of decentralized exchanges. Kruger quipped: “Natural sellers (ICOs, miners, treasuries) will always sell and put downward pressure on price. And for as long as ETH has no natural buyers (catalyzed by promising ICOs and usable dApps), it is a pyramid scheme, always in need of new incoming suckers to keep the price from crashing.” The Bitcoin proponent, touching on the network value assessment model that is often applied to cryptocurrencies, noted that Ethereum’s fundamentals have gone to “s***,” making its bargain bin valuation rational. Coalescing his points into a single comment, Kruger noted that while Ethereum isn’t dead nor crap, its investment thesis centered around token sales and blockchain-based applications has become “questionable,” due to the trying times catalyzed by the advent of 2018’s bear market. Kruger isn’t the first to chastise Ethereum. Arthur Hayes, CEO of BitMEX, issued a controversial blog post in August, claiming that ETH could go from “a 3-digit to a 2-digit s***coin.” Ethereum 2.0 Still Promising Although many lambast Ethereum for its progress (or lack thereof), the long-standing network still has the potential to reverse its dreary fate in the future. As reported by NewsBTC previously, the network’s Serenity (Ethereum 2.0) upgrade sequence is right around the corner. For those who aren’t in the loop, Ethereum co-founder Vitalik Buterin claimed that Serenity will facilitate “pure PoS consensus, faster times to synchronous confirmation (8-16 seconds), economic finality (10-20 minutes),” and, arguably most importantly, a 1,000x scalability upside. While Serenity is unlikely to go 100% live during 2019, many are confident that in 2020 or 2021, immense progress will be made towards the project’s long-term goal, hopefully catalyzing some form of global adoption. Featured Image From Shutterstock The post Crypto Analyst: Ethereum (ETH) Investment Thesis is “Questionable” appeared first on NewsBTC.

a day ago

Goldman Sachs’ legal troubles in Malaysia have made it the worst-performing US bank stock this year

Goldman Sachs is leading the drop in US bank stocks, thanks to its deepening legal troubles in Malaysia. In the latest development, Malaysia filed criminal charges (pdf) today against subsidiaries of the New York bank and two of its former employees. The charges stem from allegedly false or misleading statements related to the misappropriation of $2.7 billion of bond proceeds by 1MDB, a state-run fund. The debt, from three bond issues with a total face vale of $6.5 billion, was underwritten and arranged by Goldman Sachs in 2012 to 2013, according to a government statement (pdf). “Their fraud goes to the heart of our capital markets, and if no criminal proceedings are instituted against the accused, their undermining of our financial system and market integrity will go unpunished,” wrote Malaysian attorney general Tommy Thomas. Goldman Sachs has said it didn’t know about embezzlement and bribery at the fund. US prosecutors, meanwhile, claim 1MDB was looted after the investment bank helped the state-backed fund raise money. US authorities say billions of dollars were embezzled from the state fund to buy assets from art and property to a private jet. Najib Razak, Malaysia’s former prime minister and the founder of the fund, is accused of taking $700 million from 1MDB. Although Goldman has been hardest hit, all bank stocks are under pressure right now. Since its peak in late January, the S&P 500 financials index has fallen more than 20%—typically considered the threshold for the start of a bear market. Financial company shares have fallen amid concerns about economic growth and the increasing cost of borrowing money. Goldman Sachs, whose renowned trading unit has at times been lackluster in recent years, has sought to revamp its business by diversifying into new arenas like consumer lending. It has also shuffled its executive ranks, as David Solomon took over from Lloyd Blankfein as CEO in October. Those efforts have recently been overshadowed by the 1MDB allegations. Anwar Ibrahim, seen as the likely future prime minister of Malaysia, has demanded reparations amounting to more than the $600 million that Goldman Sachs gained in fees from 1MDB, according to an interview last month with the Financial Times (paywall). Malaysia’s attorney general says the fees from underwriting and arranging the debt issuance were several times more than prevailing market rates. Employees and directors at the investment bank also benefitted from the alleged misappropriation through large bonuses and “enhanced career prospects,” according to the statement. Former 1MDB employees Jho Low and Jasmine Loo Ai Swan were named in the charges, as were former Goldman Sachs employees Tim Leissner and Roger Ng.

a day ago

Bitmain’s landmark plan to list on the Hong Kong Stock Exchange in doubt

Chinese bitcoin mining giant Bitmain is facing growing resistance to its public offering application with the Hong Kong Stock Exchange (HKEX) due to market uncertainty, Coindesk reported. Bitmain applied to sell shares on the HKEX earlier this year following the crypto boom of 2017, making it the first crypto startup seeking to go public. Fellow mining companies Canaan Creative and Ebang also applied. However, the bear market has reportedly made the exchange “hesitant” to list companies whose survival depend on such a volatile space, with Canaan Creative’s application having already expired after the HKEX or Hong Kong’s financial regulator failed to sign off. “The exchange is very hesitant to actually approve these bitcoin mining companies because the industry is so volatile. There’s a real risk that they could just not exist anymore in a year or two,” said Coindesk’s anonymous source. Bitmain did not publicly disclose its financial data for the third quarter of this year amid the crypto price-plunge but is required to share any significant drops in revenue to the exchange. The HKEX spokesperson could not comment on individual applications and Bitmain declined to comment, citing its pre-IPO quiet period. The post Bitmain’s landmark plan to list on the Hong Kong Stock Exchange in doubt appeared first on The Block.

a day ago

PR: Bitcoin Fork Bithereum Launches Coin to Revolutionize Cryptocurrency Mining

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Dubai, UAE. - The Bithereum (BTH) team is officially launching their peer-to-peer (P2P) fork of Bitcoin centered around “Proof of Stake”, the future of Ethereum mining and blockchain consensus. The launch of Bithereum will occur around December 28th, or at Bitcoin block number 555,555. Based on security, scalability, and functionality, this platform will ultimately lead the world closer to a fully-inclusive, global, decentralized currency. “Bithereum has developed a platform that will enable a truly peer-to-peer currency while mitigating many existing issues in Bitcoin through its multi-pronged scaling approaches,” explains Bithereum co-founder Sachit Singh. “By bringing together the best aspects of both Bitcoin and Ethereum, we are confident our network will revolutionize Bitcoin mining via Ethereum’s technological roadmap and lead to the widespread adoption of cryptocurrency.” Bithereum will be starting as a Proof of Work coin upon launch, but recognizes its various inefficiencies in the long-term and will focus on Proof of Stake implementation as a paramount objective; the team has already released a proof-of-concept model for the implementation to the public. “Proof of Stake”, or PoS, will be the engine that gets this train moving. PoS is a transaction validation method that makes the blockchain network faster, more efficient and cheaper to run. The current Bitcoin mining method, known as “Proof of Work’” is very costly and wasteful in the long run. Not only are there very high up-front costs, but there are also the issues of excessive energy consumption, monopolization of mining efforts and a slow transaction speed. Co-founder Scott Wade explains: “By augmenting transaction speed and reducing fees, ‘Proof of Stake’ mining will be an economical as well as an ecological advancement.” “This new method will also lower the excessive energy consumption used by ‘Proof of Work’ mining. We are excited about the potential,” concluded Wade. Furthermore, the network will be rewarding anyone who runs a full node, similar to how miners get rewarded for their work in every Proof-of-Work system. Full nodes are machines that store the entire blockchain and are a necessity for keeping the network up, however they are not incentivized to do so; Bithereum will address this issue with regular incentives. Bithereum represents two chains in one coin; by hard-forking Bitcoin, and hard-spooning Ethereum to reward them with BTH, it will be the world’s first hard-spork, rewarding holders of coins on both chains. Ethereum Holders also have the option to claim their BTH prior to the launch on the website if they choose to. Users who wish to see more about the platform are encouraged to go to the website and to start keeping up with the progress leading up to the launch. -30- For more information: Sachit Singh Operations Lead & Founder Contact us at info@bithereum.network About Bithereum: Headquartered in Dubai Outsource City, Bithereum aims to do what no other hard fork has done: fusing the visions of both Bitcoin and Ethereum, and ultimately revolutionizing mining, improving scalability, and increasing network consensus. Please log on to: https://bithereum.network/ for more information. Also log on to https://medium.com/bithereum-network for more detailed blogs/tutorials about Bithereum. Contact Email Address info@bithereum.network Supporting Link http://bithereum.network This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: Bitcoin Fork Bithereum Launches Coin to Revolutionize Cryptocurrency Mining appeared first on Bitcoin News.

a day ago

Blame Regulation or Speculator Sell-Off... But the Crypto Community is Responsible for the Most Recent Price Drop

We’ve bottomed out! Bitcoin can only go up from here. $6,000 USD... No... $5,000? Okay, $3,000 is the definitive barrier. It’s only up from here. Just hold on. 2019 is crypto’s year. One bear conservatively reduced his end of year price prediction from $25,000 to $15,000. If all of that sounds crazy, it’s because it is. Since crypto captured the world’s attention at the end of 2017, rocketing close to $20,000 dollars before losing almost eighty percent of its value by November, debates have raged over the future of the market. Almost daily, another crypto evangelist can be found shouting that an unprecedented rise is just a few weeks away. And that’s starting to become a problem... Much of the blame for crypto’s stagnation and the decline has been placed on two factors, uncertain regulation and speculator sell-off. Analysts promise that once concrete legislation is laid down by governments for the incorporation of crypto into more traditional financial spaces, prices will go to the moon. Regulation means less uncertainty about the legality of cryptocurrencies and greater adoption. Speculator sell-off pegs crypto’s decline to investors who jumped into the market during the rise, failing to understand what they were actually buying, and cutting their losses post-crash. This may help explain the initial drop at the beginning of the year, but it is unlikely this is still a driving force in the November collapse. So why are Bitcoin and other cryptocurrencies tanking so hard? The ugly truth is that the crypto community, the many of the true believers, may be responsible. Market leaders keep shooting themselves in the foot. It appears that major industry players at Tether and Bitfinex were manipulating the price of Bitcoin during the rise last year, leveraging their market control to create flurries of fake activity and send the price higher and higher. Combined with countless fraudulent ICO scams and the usage of Bitcoin to fund illegal activities, the last thing crypto needs is for “legitimate” players to be engaging in illegal schemes. Major players have also been delegitimizing crypto through greedy infighting. While occasional hardforks make sense when philosophical debates arise over network updates, the recent Bitcoin Cash fork was unnecessarily childish and violent. Both sides went to war over the future of the currency, including threats to completely destroy the other coin. This highlights two problems with the crypto community: fragmentation and individuals with too much power. Forking networks for different functionalities... okay on occasion. Forking networks for individual gain and waging war on the opposing network... concerning and illegitimate. If the crypto community is actually worried about impending government regulation making or breaking the market, they need to shore up their practices across the board. No cryptocurrency will be regulated favorably when the market is wrought with fraud, scams and selfish infighting. However, turning the page on scummy activity, while vital to long-term success, may prove impossible for many players. Uncertainty breeds uncertainty. The lower the price drops, the more desperate major players become, making the shady activity more appealing. More fraud equals less favorable regulation, fewer adopters and decreased valuation. Crypto evangelists are too often looking like snake oil salesmen. Manipulation is tainting trustless networks. The crypto community has to find its feet and square up before they can hope for widespread, positive adoption. Decentralization, one of the aspects the community prides itself upon, may make this hard. No one with the power to make positive changes, to behave more sustainably, has the incentive to do so, as more conservative positions could lead to a further decline in valuation, and another drop could kill off more exchanges and firms. Bitcoin’s other decentralization problem is that so much of the market is controlled by a handful of accounts, giving these whales’ immense influence over the market - something that makes the market less decentralized than would be ideal to foster a stable store of value. Ultimately the crypto community needs to take a long, hard look at their practices to ensure that Bitcoin and crypto can flourish in the future. Rampant fraud, shady evangelists promoting “trustless” environments and too much-centralized control need to be dealt with before government regulation sets their own harsh rules as a reaction to the activity in the crypto space. Crypto has the power to revolutionize the global financial system if the community doesn’t squander its potential with greedy gut reactions to short-term panic. For now, the evangelists need to hop off their soapboxes and stop proclaiming $500,000 valuations. Even if Bitcoin does eventually go that high, these are not the conversations we need to be having right now. Regulatory compliance, sustainable growth, stability, and technical hurdles should all be on t

a day ago

Bitcoin Cash [BCH] Technical Analysis: Bear market prepares arsenal to down the bulls

After a momentary bullish ride on December 16, Bitcoin Cash [BCH] is back on the bull’s side. However, BCH had been struggling to keep up its position on the top-10 list of CoinMarketCap. According to CoinMarketCap, at the time of press, the coin was valued at $81.52, with a market cap of $1.4 billion. The eighth largest cryptocurrency registered a 24-hour trade volume of $65 million and had plunged by 0.70% over 24 hours, after a fall of 24.36% over the week. At the time of reporting, the coin slipped by 0.38% over the hour. 1-hour Source: Trading View According to the one-hour chart, the coin registered a steep downfall from $102.25 to $97.65, which continued only further from $95.51 to $79.89. BCH also saw an uptrend from $73.77 to $78.54. The coin met with an immediate resistance at $80.84 and going with a strong support at $73.77. Awesome Oscillator indicates that a bearish trend is gaining momentum. MACD line is under the signal line, marking a bearish market after a crossover. Parabolic SAR is pointing towards a bearish market as the marker lines are above the candles. 1-day Source: Trading View As per the one-day chart, the coin recorded a massive downtrend from $815.94 to $627.54, which continued to go as low as $81.70. The one-day chart did not point towards a significant uptrend in the chart. An immediate resistance was noticed by the coin at $106.36, while a strong support was observed at $76.17. Bollinger Bands appear to be at a converging point, indicating less price volatility. The moving average line is above the candles, marking a bearish market. Chaikin Money Flow also indicates a bearish market, as the marker line is below 0. Relative Strength Index is in the oversold zone, pointing towards a bearish market. Conclusion BCH showed a momentary bullish trend, however, it did not last for long. As per the indicators Awesome Oscillator and Chaikin Money Flow, the market is bearish. The post Bitcoin Cash [BCH] Technical Analysis: Bear market prepares arsenal to down the bulls appeared first on AMBCrypto.

a day ago

Litecoin Price Remains Bullish After Hitting $27.5

Even though the weekend has offered both bearish and bullish market pressure alike, it seems Litecoin is coming up on top in the end. The currency has seen a remarkable uptrend across the USD and BTC market, which effectively pushes its price to $27.5 again. A very positive sign of brewing momentum, especially with a healthy amount of trading volume to back it up. Litecoin Price Uptrend Continues For many people, Litecoin is the de facto altcoin which is often overlooked. While Litecoin doesn’t necessarily offer some technical features one can’t find in Bitcoin, it is the cheaper option of the two. Litecoin also offers faster transactions to boot, which makes it somewhat valuable in its own right. It would appear the current LTC price reflects that overall positive sentiment first and foremost. Over the past 24 hours, there has been a notable increase in the Litecoin price. Its USD value increased by 5.8% and surpasses the $27.5 level. There is also a 5.4$ increase in the LTC/BTC ratio, which further confirms this altcoin is in a good place right now. Combined with $460m worth of trading volume, the demand for Litecoin is certainly there, albeit it remains to be seen how this will affect the overall market trend accordingly. When looking at social media, it would appear the latest Huobi Research report confirms Litecoin is a rather active topic of debate on Telegram. It ranks second after Bitcoin and inches ahead of both Ethereum and EOS. In terms of social sentiment, the situation looks very different, but that is only normal when it comes to the various cryptocurrencies on an early Monday morning. These rankings will undoubtedly change a bit over the coming hours. Today top 5 cryptocurrency discussed most on Telegram are 1.#BTC 2.#LTC 3.#ETH 4.#PRO 5.#EOSCoins with highest sentiment index (higher score = more positive) are 1.#RVN 2.#STORM 3.#MFT 4.#ADA 5.#WAVESSee more data: https://t.co/LnW93z47MV — Huobi Research (@Huobi_Research) December 17, 2018 It would also appear there are some interesting developments regarding the Lightning Network. This particular scaling solution is mainly associated with Bitcoin, but it will also make its way to the Litecoin system over time. As such, any development affecting this particular technology will bode well for the future of all currencies potentially implementing the Lightning Network in the future. SLP39 @roasbeef CTO of @lightning joins me to talk about: - Lightning Summit Nov 2018- AMP- Splicing - Wumbology- Neutrino- Wishlist for bitcoin core changes- What's coming from Lightning Labs- LN 1 year outlook listen, subscribe, share!https://t.co/HcTqhEJu33 — Stephan Livera (@stephanlivera) December 11, 2018 When looking at the current Litecoin price chart from a technical perspective, it has been a pretty good month of December so far. The massive spike taking place two weeks ago has not relented as of yet, which is rather surprising in its own right first and foremost. As such, one has to wonder where will lead next and how high the Litecoin price can effectively go throughout the rest of December. Litecoin ’s December #LTC pic.twitter.com/97IjDKTIal — Angie LoveHearts (@InfinityTimesMe) December 17, 2018 For the time being, it would appear as if the Litecoin price run can continue for some time to come. This high trading volume is rather unusual for the silver to Bitcoin’s gold, although it is seemingly more than warranted at this stage. What happens once Bitcoin starts to collapse, however, is a different matter altogether. it seems unlikely Bitcoin’s bottom is in at this time, which doesn’t bode well for all of the other cryptocurrencies on the market. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Litecoin Price Remains Bullish After Hitting $27.5 appeared first on NullTX.

a day ago

First Time Ever Ethereum Price Surpasses Bitcoin Cash

CoinSpeaker First Time Ever Ethereum Price Surpasses Bitcoin Cash For the first time ever, (or after the hard fork), the price of Ether has surpassed that of Bitcoin Cash. Among all other crashes in crypto world, this is now the latest negative milestone in a few weeks for the world’s fourth-largest cryptocurrency by market capitalization. According to data from CoinMarketCap, Ethereum traded at $86,76, while Bitcoin Cash traded at $83,07 at the time of writing. With the crypto markets underperforming for over a year now, the questions are haunting all investors: what is happening to the market? Where to go from here? If you are one of the pride owners of Ethereum and are wondering if Ethereum price will rise again, then you should be careful and go through some of the predictions made by market experts. Ethereum’s co-creator Steven Nerayoff has famously said that Ether’s market capitalization will reach USD 110 billion from the current USD 9,034,496,452 (at the time of writing). The reasoning behind Nerayoff’s prediction is that the amount of products being built on the Ethereum Blockchain is increasing by the day. It is also essential to know the cons and pros of Ethereum to understand where the cryptocurrency stands in the market. deVere Group, a consulting firm, has released the prediction of Ether at USD 2,500 by the end of this year. In October, Nigel Green, founder and CEO of deVere Group, one of the world’s largest independent financial advisory organisations, which launched deVere Crypto, the pioneering cryptocurrency app earlier this year, forecasted the future of the world-changing. He then said: “Another one to dent Bitcoin’s market share over the next few years, would be its current main challenger Ethereum. This is because a growing number of platforms are adopting Ethereum as a means of trading; there’s an increasing use of smart contracts by Ethereum; and due to the decentralization of cloud computing.” As per deVere, there will be a further hike in the price of Ether in the year 2019 and 2020. The reasoning behind deVere’s forecast is also the same- increased use of the open-source, public, blockchain-based distributed computing platform. Ongoing Development in Ethereum to Transform the Payments Industry? Polychain Capital’s CEO, Carlson-Wee, seconds Ver’s opinion of Ethereum surpassing Bitcoin. Last year, he was largely placing a bet that Ethereum, would win out; more than one-quarter of Polychain’s main fund was invested in Ethereum, according to its most recent audit. In communications this year with investors, the firm defended its performance as better than the crypto market at large. He still thinks that the ongoing development in Ethereum will transform the payments industry to deliver new ways of storing wealth. Investors in the fund credit a shift from assets such as Ethereum into less-liquid, more stable stakes in crypto companies internationally. That’s a less-volatile bet but one that’s harder to get out of in the case of an extended decline. Giving an interview at the Ethereum Industry Summit conference in Hong Kong in September, Vitalik Buterin, co-founder of Ethereum, said: “The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.” It’s interesting though that last month, cryptocurrency entrepreneur Jeremy Rubin wrote the Tech Crunch article stipulating the price of ETH and that it is bound to plummet. Vitalik Buterin agreed to the piece wrote on Reddit, “In Ethereum as it presently exists, this is absolutely true.” In the article, Rubin argues that Ethereum has problems with scaling and smart contract security. It is leading to the inability of outdoing the competitors and all of this will inevitably lead to the collapse of Ethereum (ETH) by “economic abstraction.” The phrase ‘economic abstraction’ is used for describing the transaction payment or smart fee (gas) in some token that’s not Ethereum Network’s native token. It means that instead of paying gas in ETH, a smart contract owner would pay in the token that’s native to their contract that’s likely based on ERC-20 standard. According to Rubin’s argument, if all owners of smart contract pay in ERC-20 tokens instead of ETH, it would result in decreasing the value of the asset or make it valueless. Vitalik even revealed the two proposals. The first one being: “Instead of paying for Gas in ETH, we could make every BuzzwordCoin transaction deposit a small amount of BuzzwordCoin directly to the block’s miner’s address to pay for the contract’s execution. Paying for Gas in a non-ETH asset is sometimes referred to as economic abstraction in the Ethereum community.” Another one is: “...average gas usage is targeted to 50% of a (2x higher than today) gas limit, using a self-adjusting minimum transaction

a day ago

Ethereum Hits Address Milestone But Activity and dApp Usage Down

Latest data indicates that Ethereum has reached a milestone in terms of unique addresses surpassing 50 million. While this news is a good sign for growth the actual number of active addresses has declined quite substantially. 50 Million Ethereum Addresses Metrics from etherscan indicates that Ethereum crossed 50 million addresses over the weekend. During its peak in early January Ethereum recorded the highest increase of unique addresses added per day 352,888 on the fourth. Conversely its lowest number was 41 on August 6, 2015. So even during a massive bear market unique Ethereum addresses were still being made and growing. Further research carried out by The Block indicates that active addresses are falling and have dropped almost 70% since their peak. Citing figures from Coinmetrics, the peak of activity for Ethereum addresses was on January 16, 2018 at 719,093. It defines activity as “the number of unique sending and receiving addresses participating in transactions on the given day.” This had now fallen to 232,085 by December 15. The percentage of active addresses out of all Ethereum addresses is currently 0.46%, down from around 3.5% seen in January. Hashrate and dApp Usage Down Since mid-November Ethereum hashrate has also plunged and it is now back to the same levels witnessed during peak times at the beginning of the year. The demand for dApps and ERC20 tokens has fallen with prices this year so these figures are not surprising. According to dappradar daily users of ETH dApps has been in steep decline since mid-October. The current number of users is 7,434 compared to around 17,000 just two months ago. Early July saw the lowest figure this year at 4,215. The continued liquidation of Ethereum from ICO projects is keeping prices on the floor. According to recent figures 416,000 ETH has been sold in the past month leading to further slide in prices. Ethereum Market in Pain At the time of writing Ethereum was trading at $85, down a whopping 94% since its all-time high of just over $1,400 in January. Market cap has dropped below $10 billion for the first time since May 2017. This has allowed Ripple’s XRP to surpass it and take and hold second spot with a market cap of just under $12 billion. The lowest point for Ethereum this year was on December 15 when it fell to $82.83, a price not seen for over 18 months. Over the past seven days Ethereum has fallen 9.5% and looking back over the past month it has dumped over 50% of its value. There are a number of improvements slated for the project which will do wonders for its scalability which is the main thing holding back adoption at the moment. Once these are rolled out and the bears start to go into hibernation Ethereum will be back on the up again. Image from Shutterstock The post Ethereum Hits Address Milestone But Activity and dApp Usage Down appeared first on NewsBTC.

a day ago

Tron Thrives in 2018’s Bear Markets; Hits 100 million Transactions and Rolls Out 39 dApps

While the crypto market continues to crash, the Tron team is making an exception by working hard to achieve its goals. Yesterday, Justin Sun, Tron’s founder tweeted that Tron had reached 100 million transactions within 173 days after it shifted from Ethereum. He added that 39 dApps had launched on their dApp ecosystem, TVM, since its release, and that more are set to go live before the end of 2018. While Ethereum leads the dApp race with 1311 decentralized applications, Tron is determined to take the throne eventually. (KE)

a day ago

TFW you go to enter an account number for a banking/wire tra...

TFW you go to enter an account number for a banking/wire transfer or $crypto transfer: the slightest error could se… https://t.co/ADoBQRuedP

a day ago


News courtesy of berminal.com
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