Maker MKR

$423.58
Market Cap $ 308.466 MM (#21)
24h Volume $ 247.938 K
Chg. 24h: -2.75%
Algo. score 3.5/5  (#216)
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Maker News

Get in on the ground floor in pairing the DEXBot and CryptoB...

Get in on the ground floor in pairing the DEXBot and CryptoBridge Market Maker paired strategy. Join our Discord to… https://t.co/OQWJb8W2L7

5 hours ago

Bitmain CEOs to Make Way for New Faces

Top cryptocurrency mining rig maker Bitmain may be in for some administrative changes soon, with Wang Haichao, currently head of product engineering, tipped to be the new CEO in place of co-CEOs Wu Jihan and Zhan Ketuan, as reported by South China Morning Post. Currently, no public announcement has been made by the company or any …

3 days ago

Bitmain Replacing CEO Jihan Wu

Bitmain - the world’s leading maker of cryptocurrency mining rigs, is set to appoint a new Chief Operating Officer. The co-founders of the company Jihan Wu and Micree Zhan Ketuan, are stepping down from day-to-day affairs. Abandon Ship According to the South China Morning Post, the world’s biggest bitcoin mining rig maker has made substantial changes in its senior management. Citing anonymous sources familiar with the matter, the outlet reports that both Wu and Zhan will quit handling day-to-day business activities at the company. Their successor is reportedly a product engineering director at a company based in Beijing - Wang Haichao. While no formal statement has been made yet, the sources reveal that Wang has already taken duties over from both Zhan and Wu. Prior to Bitmain, Wang was working at a semiconductor design house called Availing from 2010 to 2017. He’s a graduate from what’s considered to be China’s MIT - Tsinghua University. Bear Market Taking its Toll 2018 has seen the entire cryptocurrency market shrink to about $127 billion from its all-time high value of more than $800 billion at the beginning of the year. This has seemingly taken its toll on industry proponents. Bitmain has been recently reported to lay off half of its staff in 2019. According to a spokesperson at the company, however, this represents some sort of an “adjustment”: There has been some adjustment to our staff this year as we continue to build a long-term, sustainable and scalable business. A part of that is having to really focus on things that are core to that mission and not things that are auxiliary. It’s also worth noting that Bitmain has also Twitter account Samson Mow (@Excellion) recently shared that the company has laid off the entire Copernicus team (the team responsible for developing Bitcoin Cash GO client). Bitmain has quietly laid off their entire Copernicus team (#Bcash GO client). Only 1 week notice. Some had just joined the company. Layoffs just in time for Christmas. #BitmainIPO @HKEXGroup @SCMPNews pic.twitter.com/Kt2Ce90sBW — Samson Mow (@Excellion) December 23, 2018 What do you think of Bitmain’s current condition? Don’t hesitate to let us know in the comments below! The post Bitmain Replacing CEO Jihan Wu appeared first on Live Bitcoin News.

3 days ago

European Banking Authority (EBA) Urged for Pan-EU Rules and Crypto Frameworks

Cryptocurrency is not an ‘easy go’ topic in the Europe Union (EU). Besides the Financial task force’s initiation of ‘stopping crypto money laundering within Europe’, a report was released in connection with the digital money. Crypto Wallet and Crypto Trading Needs Pan-EU Rules European Banking Authority (EBA) is a London based regulatory agency that has reached out to European Commission in a matter of cryptocurrency rules within EU. The report denotes customers’ interest over the hype of crypto economy, as the prime concern of EB, henceforth, urging ‘pan-EU’ rules for cryptocurrencies. Subsequently, the new set of rules would consider further analysis to better define regulated services for crypto matters in EU. A note of the report reads, “Typically, crypto-asset activities do not constitute regulated services within the scope of EU banking, payments, and electronic money law, and risks exist for consumers that are not addressed at the EU level,” EBA report released on January 09, 2019 is a result of the findings of EBA’s analysis carried out as per its March FinTech Roadmap. Nevertheless, the findings did reveal that the present ‘crypto activity’ within EU is ‘relatively limited’ and few services including crypto wallets and crypto trading platform doesn’t fall under EU-level financial services law. It added that these services might be compliance for some national laws but ‘such roles aren’t consistent across the bloc’. These deviating approaches bring various potential issues such as ‘consumer protection, operational resilience, and the level playing field’, the report reads. Besides the report, Ardo Hansson who is the policy maker at European Central Bank called ‘cryptocurrencies as a fairytale’. While predicting the future of crypto assets, he said that ‘the future would turn into a complete load of nonsense’. What it all Means for Bitcoin and Investors? Furthermore, the lawmakers in member countries might receive a ‘paperwork from EBA’. They urged that industry require ‘transparent system’ that caution public against the risk dealing in cryptocurrency matter. In a similar matter, the report notes that; “The EBA will keep under review the need for any further actions within the scope of its statutory competence and stands ready to support the European Commission in relation to any further analysis of issues arising in relation to crypto-assets.” EBA’s call would likely bring ‘more stable legal rules’ for investors, customers, and companies dedicated to offering crypto services. This global concern on cryptocurrencies such as Bitcoin would ensure investors and VCs a sense of confidence to eye on crypto investments besides potential risks. Moreover, unless there is a ‘crypto framework by commision’ EBA will undertake a common monitoring procedure to help task force obtain accurate data from firms. Also, it will continue to analyze the business model of various crypto-oriented businesses. The post European Banking Authority (EBA) Urged for Pan-EU Rules and Crypto Frameworks appeared first on Coingape.

3 days ago

Crypto Market Wrap: Gone in 60 Minutes, $8 Billion Just Dumped

Market Wrap Crypto markets have just fallen off the cliff; Ethereum, Bitcoin Cash, Binance Coin and Neo hurting bad. The cycle continues as yesterday’s pump turns into today’s dump. Crypto markets have again failed to hold any short term gains and are falling back once again. Total market capitalization is back below $130 billion as the cycle rinses and repeats and $8 billion gets wiped out in a mere hour or so. Bitcoin bounced off intraday highs of $4,060 twice before beating a retreat. A massive dump has just initiated as one huge red hourly candle knocked BTC back below $3,850 wiping out recent gains and resulting in over 5% declines on the day. Ethereum is in more pain shedding 8.5% back to below $140 as it too falls off the cliff and hits a new low for the week. Market cap is back below $15 billion and Ripple’s XRP is snapping at ETH’s heels again. Only losing 3.5% at the time of writing, XRP is just $100 million behind Ethereum, a re-flippening is imminent. The top ten has all been smashed in the past hour or two, all aside from Tron which is still up on the day by a good 15%. TRX briefly broke the $2 billion barrier before pulling back below it a few hours ago. Bitcoin Cash as usual has been trounced with a 11% slide back below $145, Litecoin and Bitcoin SV are both dropping 8%. The two altcoins in the top twenty getting hit over 10% right now are Binance Coin and Neo, and Monero and Ethereum Classic are not far behind. Things are that bad in the top twenty that another stablecoin has entered it, USDC is now at 19th spot as Maker and Zcash fall back. Tron is the top altcoin in the top one hundred right now, in fact it is the only one making double digits as the rest of crypto land dumps again. Yesterday’s two fomo recipients are dumping all their gains today, namely Holo and Pundi X, both shedding over 15% on the day. Total market capitalization has fallen back to $129 billion over the past hour. This is a loss of over 5.5% on the day as $8 billion exits in less than 60 minutes. Daily trade volume is at $18 billion but it is all outflow at the moment. The sideways channel is still holding up for now but gains over the past week are now digital dust. FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post Crypto Market Wrap: Gone in 60 Minutes, $8 Billion Just Dumped appeared first on NewsBTC.

3 days ago

Bitcoin [BTC] and XRP see massive price drops as top order shifts

The cryptocurrency market has been seeing a rollercoaster ride in terms of price with the market seeing multiple ups and downs. On January 10th, the market saw a massive bearish drop with almost all the major cryptocurrencies seeing significant price drops. Bitcoin [BTC], Ethereum [ETH] and XRP all saw drops in the 1-hour chart that has been noted by both users and investors. At the time of writing, Bitcoin was still below the $4000 mark with a 1-hour drop of 1.14% and a 24-hour drop of $5.8%. The cryptocurrency was trading for $3822.02 with a total market cap of $66.68 billion. The 24-hour market volume of $6.28 billion was majorly shared by Bitmex and Coinbit, with the former holding a 16.08% hold on the total trade while the latter saw $325.6 million worth of Bitcoin trade. Bitcoin was also in the news recently when China’s second-biggest maker of Bitcoin hardware, Cannan Inc shelved plans for its proposed Hong Kong IPO. Another cryptocurrency getting attacked by the bear was XRP, sliding by 3.10% in an hour and 6.7% in the 24-hour spectrum The cryptocurrency was trading for $0.34 with a total market cap of $14.065 billion. XRP held a 24-hour market volume of $775.485 million which was split between Upbit and ZB.COM. UPbit held control of 7.81% of the total XRP transactions while ZB.COM witnessed 6.87% of the total transactions taking place on the platform. XRP had received a boost last week when Ripple announced that the company had partnered with over 200 financial institutions. Brad Garlinghouse, the CEO of Ripple had said: “People got really excited about the potential of a new platform and the hype got ahead of the reality. That unequivocally has happened in this space... There’s religious fervor around all of them — some people seem to think these are the crusades and this is a holy war is being fought.” The post Bitcoin [BTC] and XRP see massive price drops as top order shifts appeared first on AMBCrypto.

3 days ago

Elon Musk: Tesla Will Retire the Entry-Level Model X and Model S

Electric car maker Tesla has announced that it will no longer sell the entry-level versions of its Model S and Model X models. This was disclosed by the firm’s CEO and founder, Elon Musk, in a tweeted statement. Starting on Monday, Tesla will no longer be taking orders for the 75 kWh version of the

4 days ago

China’s Bitcoin mining hardware manufacturer Canan Inc. moves to US listings after shelving Hong Kong IPO

China’s second-biggest maker of Bitcoin mining hardware, Cannan Inc., shelved plans for a Hong Kong Initial Public Offering [IPO] and might consider listing in the US, said a source in a report by Bloomberg. The Bitcoin mining hardware company, aiming to raise about $1 billion earlier, now is examining the possibility of selling shares in NASDAQ in the first half of the year, reported the publication. However, the discussions for the same are still going on and it’s too early to say whether it will lead to a transaction, reported the publication. The company’s listing application terminated in November 2018. As per the data collected by the publication, Chinese companies have raised up to $1.9 billion through US IPOs and any deal thus made would just add to this number. The publication reached out to Caanan’s co-chairman, Jianping Kong, however, he did not respond. The top cryptocurrency, Bitcoin [BTC], has fallen by 79 percent from its record high in December 2017 and ever since, it has been difficult for the cryptocurrency companies to attract investors from stock-market. This made it less profitable for miners to generate new coins, reported Bloomberg. The largest producer of specialized mining chips for the crypto industry, Bitmain Technologies Holding Co., and smaller competition like Ebang International Holdings Inc., have registered for Hong Kong IPOs in 2018. However, as per CoinTelegraph, Bitmain’s IPO attempt has failed, “due to reluctance from Hong Kong’s stock market regulator”. The Beijin-based Caanan Inc., also sells computer equipment under the name of Avalon, along with customized chips that obtain digital currency by solving complex mathematical puzzles. The company was formed in 2013, registered 1.31 billion Yuan, an equivalent to $191 million of revenue in 2017 as per the Hong Kong exchange filing in May. The sponsors of Caanan’s intended Hong Kong listing was sponsored by Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG, and CMB International Capital Ltd. as per the filing. The post China’s Bitcoin mining hardware manufacturer Canan Inc. moves to US listings after shelving Hong Kong IPO appeared first on AMBCrypto.

4 days ago

Bitcoin Mining Giant Canaan Reportedly Eyeing IPO in NY

Canaan, the second biggest Bitcoin mining hardware maker, is reportedly considering an IPO in the New York after shelving its Hong Kong IPO plans in late 2018. Canaan Eyes US IPO Citing sources familiar to the matter, Bloomberg reported that the second largest Chinese manufacturer of Bitcoin mining hardware, Canaan, is looking into the possibility of an IPO in New York. However, the sources which have asked not to be named, also revealed that “deliberations are at an early stage, and there’s no certainty they will lead to a transaction.” The company’s co-chairman Jianping Kong has declined to comment on the matter. Canaan is amongst the major players in the Bitcoin mining hardware manufacturing industry, selling its products under the “Avalon” brand. It reported revenue of $191 million in 2017, despite fierce competition in the field. Hong Kong IPO Plans Shelved The rumors of Canaan’s US IPO listing come amid times of uncertainty in the Bitcoin mining sector. The company has previously attempted to obtain an IPO listing at the Chinese New Third Board market but failed. Canaan also allowed its $400 million Hong Kong IPO application to lapse back in November 2018. Meanwhile, it’s not the only Bitcoin mining company whose IPO plans have taken a beating. Bitcoinist reported on leaked records indicating that industry-leading Bitmain may have experienced its worst quarter at the end of 2018. The company lost $740 Million including losses on inventory and bitcoin cash! And this is not accounting for hash war costs! If that’s true, Bitmain’s plans for a $14 billion IPO now seem uncertain at best, particularly if the cryptocurrency bear market is prolonged. What do you think of Canaan’s reported intentions for US IPO listing? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Bitcoin Mining Giant Canaan Reportedly Eyeing IPO in NY appeared first on Bitcoinist.com.

5 days ago

Are you someone who loves putting on events and owning every...

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5 days ago

Cryptocurrencies a “Fairy-Tale Story”, ECB Policymaker Says

A policy maker from the European Central Bank considers cryptocurrency to be a “fairy-tale story.” He’s also expressed his negativism on the matter, discarding the digital assets as a “complete load of nonsense” despite the bank’s position on the matter. Cryptocurrency a “Fairy-Tale Story” The governor of Estonia’s central bank and European Central Bank policymaker Ardo Hansson has expressed his stance on the matter of cryptocurrencies and their current decline. The bubble has already started to collapse and maybe we should just see how far this collapse goes, and what is left when we’ve reached a new kind of equilibrium. I think we will come back a few years from now and say how could we ever have gotten into this situation where we believed this kind of a fairy-tale story. - Said Hansson. Additionally, Bloomberg also reported that Hansson has warned authorities that they may need to focus on additional investor-protection aspects while highlighting concerns that cryptocurrency can be used of illicit activities. It does seem like Hansson insists on a completely unsupported narrative, as experts have recently clarified that cash and not cryptocurrencies remain king when it comes to illicit activity financing. Unconsolidated Position Hansson’s negative position on the matter of cryptocurrencies doesn’t seem to fall in line with the stance of the ECB itself. While the bank has recently dismissed the possibility for a central bank-issued cryptocurrency, it hasn’t really demonstrated any kind of steep negativism towards the field. In fact, Live Bitcoin News reported in November that the president of the ECB himself has said that a digital currency could widen the range of economic actors. In principle, a central bank digital currency could meet demands for both the security and digitalisation of the economy. It could also allow monetary policy to reach a wider range of economic actors more directly. - Said Draghi. What do you think of Hansson’s position on cryptocurrencies? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Cryptocurrencies a “Fairy-Tale Story”, ECB Policymaker Says appeared first on Live Bitcoin News.

5 days ago

Chinese mining rig maker Canaan reportedly shelves Hong Kong plans, eyes U.S. IPO

China’s second-biggest Bitcoin mining chip maker Canaan has reportedly abandoned their plans for a Hong Kong initial public offering in favor of a U.S. listing, Bloomberg writes. After the company’s Hong Kong Stock Exchange application lapsed in November, Canaan reportedly decided to give up on the plan of going public in Hong Kong. Citing an anonymous source, Bloomberg claims the “Avalon” hardware manufacturer is in the early stages of deliberations for a U.S. IPO, which could be launched within the first half of the year. Canaan’s biggest competitors, Bitmain and Ebang, had also filed for Hong Kong IPOs back in 2018, but neither of them has received approval to this date. The post Chinese mining rig maker Canaan reportedly shelves Hong Kong plans, eyes U.S. IPO appeared first on The Block.

6 days ago

Breaking News: Cryptocurrency Mining Equipment Maker Canaan Inc. Considering U.S. IPO

Canaan Inc., China’s second-biggest maker of Bitcoin mining hardware reported that it is considering listing in the U.S.Crypto mining industry. As reported by Bloomberg the company has chosen U.S. instead of Hong Kong for the IPO. Canaan picks up US markets after shelving plans for a Hong Kong Canaan Inc., China’s second-biggest maker of Bitcoin mining hardware, is considering listing in the U.S. after shelving plans for a Hong Kong initial public offering. According to the earlier reports, the Chinese company was targeting to raise about $1 billion, is discussing the possibility of selling shares in New York as soon as the first half, according to the people. While Canaan had filed an application for a Hong Kong listing, amidst market slow down, Canaan did not proceed ahead and the application it lapsed in November. While there is no official confirmation from the company, a source close to the company sais the company is in an advanced stage of deliberation. Beijing-based Canaan, founded in 2013, sells computer equipment under the “Avalon” brand with high power customized chips that are used by crypto miners to mine digital coins by solving complex numerical problems. Canaan had reported a 1.31 billion yuan ($191 million) of revenue in 2017, according to a Hong Kong exchange filing in May. The Hong Kong application also stated that Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG, and CMB International Capital Ltd. were joint sponsors of Canaan’s proposed Hong Kong listing. 2018 has been a very bad year for cryptocurrencies in terms of market price. Bitcoin, the top crypto coin, has fallen nearly 80% percent after hitting a record high in December 2017, making it more difficult for crypto-related businesses to attract investors in stock-market. The dampness in crypto markets was felt in the stock market as well as Nvidia, another chip maker was declared the worst performer in the S&P 500 group of stocks for the last quarter of 2018. Canaan competitors, Bitmain Technologies Holding Co., the largest maker of specialized mining chips for the industry, and smaller rival Ebang International Holdings Inc. also filed for Hong Kong IPOs last year. While Bitmain also had to mull its listing dreams due to falling crypto markets and issues of its own, there was no news of Ebang proceeding ahead either. After a somber 2018, 2019 seems to have bought a ray of sunshine to the crypto mining industry. While things are still distant from being at best, this start is definitely encouraging. Will Canaan IPO news bring in the much-needed positivity to the crypto mining industry? DO let us know your views on the same. The post Breaking News: Cryptocurrency Mining Equipment Maker Canaan Inc. Considering U.S. IPO appeared first on Coingape.

6 days ago

Crypto Market Wrap: Another Day Another Pullback

Market Wrap Crypto markets pulling back again; Ethereum, Bitcoin Cash and Cardano sliding, Tron going strong. A predictable pump and dump cycle appears to be forming in consolidating crypto markets. After Monday’s pump comes Tuesday’s dump as total market capitalization retreats back below $135 billion and recent gains are wiped out again. Bitcoin is a shade under $4,000 as it drops 1.7% on the day and trade volume falls back below $5 billion. An intraday high of $4,080 was made before it hit resistance once again and fell back to a level it appears to be holding for now. Since last Tuesday BTC is still up 7%. Ethereum is also pulling back though heavier losses of 5% have dropped it below $150 again. On the week ETH is still up 10% but the steam appears to be running out of the rally and the gap to XRP in third is getting smaller again. The top ten altcoins are all in the red aside from one. Tron has made over 3.5% at the time of writing and has flipped Bitcoin SV for ninth spot with a market cap of just below $1.6 billion. Stellar has remained static which has allowed it to take sixth back from Litecoin which has lost 1.5%. The rest are down 2 - 4 percent with Bitcoin Cash dumping the most again at over 5%. The top twenty is a deeper shade of red as losses accumulate. Following the 51% attack Ethereum Classic dumped almost 8% back below $5. Cardano and Maker are also getting hit with losses of over 6% during the day’s Asian trading session. Aside from Monero and Binance Coin, the rest are down 3 - 5 percent on the day. The fomo of the day is still going to REPO which is the only coin in the top one hundred making double digits at 15%. Steem is making moves also with a 6% gain on the day. There are no big dumps occurring at the moment but the worst performing altcoins are Waves, Waltonchain and Aurora all dropping over 8%. Total crypto market capitalization has slid a couple of percent back to $134 billion as daily volume drops back below $15 billion. Around $3 billion of yesterday’s $7 billion pump has been lost today. The range bound channel is still intact though on the week markets are up 6%. A breakout is going to be a while coming yet and things may remain this way for some time. FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post Crypto Market Wrap: Another Day Another Pullback appeared first on NewsBTC.

6 days ago

0x (ZRX) Introduces Its '0x Market Maker Program'

The 0x (ZRX) project recently announced the launch of the 0x Market Maker Program, designed to help bring “additional liquidity to the 0x ecosystem by providing comprehensive tutorials, monetary incentives, and dedicated support from the 0x Engineering Team. Aside from education and ongoing support, 0x will be compensating market makers through the program and accepted applicants can potentially receive $15,000 for building and running their own market-making bot on 0x relayers. (JF)

6 days ago

@zhusu Severe/rapid decline in ETH will likely break DAI and...

@zhusu Severe/rapid decline in ETH will likely break DAI and also crater the value of MKR, rendering the backstop i… https://t.co/pcaoSCjpPJ

6 days ago

@zhusu It is similar to Maker in reverse (dollar long risks ...

@zhusu It is similar to Maker in reverse (dollar long risks liquidation rather than dollar short) PLUS counterparty… https://t.co/PYv8TJorTS

6 days ago

@futjrn @ethereumJoseph @TrustWalletApp Anyone who wants to ...

@futjrn @ethereumJoseph @TrustWalletApp Anyone who wants to become a Maker can connect to the AirSwap network. This… https://t.co/YnwU6MuUVJ

6 days ago

Introducing the 0x Market Maker Program! 📈 The Program was ...

Introducing the 0x Market Maker Program! 📈 The Program was created to bring additional liquidity to the 0x ecosyst… https://t.co/Dl3mz5gVWU

6 days ago

New crypto exchange looks to lure traders with Tether futures

A new crypto derivatives exchange is launching with a variety of financial products, which its CEO hopes will draw large proprietary trading shops deeper into the market. CoinFLEX, a spin-out of U.K. crypto exchange Coinfloor, announced its Tether futures product late Sunday evening. This will allow traders to essentially hedge their holdings of USDT or make a bet on the future price of the stable coin. It’s a product that traders in Asia have been clamoring for, according to Mark Lamb, chief executive officer of the Hong Kong-based firm. He also said it could be a big money maker for the newly launched subsidiary, which previously operated under the name CoinfloorEx, and which is set to start trading in February. “Tether is popular because it is very liquid,” Lamb told The Block. “You can go to a spot exchange and deposit tether and buy a number of cryptos, but the only downside of Tether is that it is quite volatile and because of those issues people really have a need to hedge their exposure.” Making up 70% of the stablecoin market, there’s no doubting Tether is king. Still, it has come under scrutiny for its refusal to produce an audit showing its coins are backed fully by the US dollar. Cameron Winklevoss has said, however, that an audit of a stablecoin is not possible. Physically delivered crypto futures As part of the announcement, the firm also said it would be the first to offer physically delivered futures derivatives in bitcoin, bitcoin cash, and ethereum. That would put the firm up against CME Group and Cboe Global Markets, which both offer bitcoin futures trading in the U.S. Still, CoinFLEX’s futures will be physically delivered, which means a trader would receive a payment in crypto at the end of a contract, not cash. Firm clients will also have the opportunity to trade those futures with up to 20x leverage, like BitMEX, another crypto trading platform known for its leverage contracts. Lamb is positive the physically delivered futures will drive traders to the platform since it’s unique in the market. To be sure, ErisX and Bakkt, the crypto trading platform by Intercontinental Exchange, are both working on physically delivered futures for bitcoin, though their launch dates remain uncertain. Crypto traders have been calling for this type of futures for bitcoin since the beginning of last year. Bitcoin futures could also better facilitate a basis trade, a type of arbitrage that profits on discrepancies between futures and its underlying spot asset, according to Lamb. “If you are doing this through cash settled futures you don’t know how much you are going to make because you don’t know where the difference between futures and spot is going to be at expiry,” Lamb said. That’s because a trader gets paid an actual bitcoin as opposed to cash based off an index, which in theory could be subject to manipulation. However, Richard Gorelick, the head of market structure at DRW, which operates the crypto trading firm Cumberland, said during a meeting with Commodity Futures Trading Commission earlier this month: “We continue to have concerns that the way these futures contracts are pegged to these cash markets — which are less transparent — could result in dislocations in the future.” Big backers The new exchange is backed by Roger Ver, the man behind bitcoin spin-off bitcoin cash, as well as Mike Komaransky, B2C2, and Alameda Research. It is also being backed by Trading Technologies, the Chicago-based firm known for its futures trading platform. “This is the first time TT has been an investor in an exchange,” Michael Unetich, Vice President of cryptocurrencies at TT, said. “As a shareholder, we believe we will add significant value to what CoinFLEX is doing by providing immediate distribution to professional traders...along with a highly usable front-end interface for traders of all types.” CoinFLEX will be incorporated in Seychelles, similarly to rival BitMEX. The post New crypto exchange looks to lure traders with Tether futures appeared first on The Block.

6 days ago

5 Signs From CES 2019 That Crypto Is Ready for the Mainstream

If you have doubts about the future of crypto, look no further than Las Vegas. The Consumer Technology Association’s CES is the biggest trade show in the world and the biggest event hosted in Las Vegas every year. Over 2.7 million net square feet of exhibit floor space is set aside for over 182,000 tech industry professionals to learn the latest trends in consumer technology. I drove to Las Vegas with a small production team to catch up with the blockchain and cryptocurrency developments at CES 2019. As the winter rolled on (registration was last fall), it became clear through the programming and exhibitors that crypto is a force to be reckoned with this year. Here’s a quick breakdown of the crypto and blockchain highlights from CES 2019 in Las Vegas. 1. Cryptocurrency Hardware Wallets Are Legit Tech Wallets and exchanges shined throughout CES, with Ledger and Trezor both showing off their offerings. Both are available at major retailers and could be expanding their presence in the market in 2019. Ledger introduced the Nano X, which is a Bluetooth-enabled hardware wallet and a step up from its popular Nano S, which sold over 1.5 million units as of the end of 2018. The Nano X can hold up to 100 crypto assets, six times more than the previous version. Ledger is also launching the Ledger Live mobile app that supports Nano S and Nano X users. Meanwhile, I got a hold of a Trezor Model T and bought some Bitcoin to get started in cryptocurrency investing myself. My 2019 resolution is to invest $100 in a new altcoin every month this year. I’ll work on comparing wallets more once I do. Kevin Love from Bundil, the Shark Tank-funded crypto investment app, was also on hand discussing the benefits of crypto investing. 2. Retailers Are Crypto-Curious Retail’s biggest pushback against accepting crypto as payment is volatile pricing, but they’re not necessarily against blockchain technology. CES 2019 had a range of informative sessions throughout the week to demystify crypto for merchants. During “The Great Crypto Debate”, MakerDAO (MKR) President Steven Becker and Bitcoin Foundation’s Brock Pierce participated in a roundtable discussion about the viability of crypto as both currency and technology. And Pundi X(NPXS) hit CES in a big way, showing off its new blockchain-based phone at CES Unveiled. Called “Function X, ” the phone runs on Android 7.0 and the company plans to released 5000 phones to proof the concept before licensing their tech to other manufacturers. If you don’t already know Pundi X, it has point-of-sale devices and a crypto wallet, which, when combined with this phone, creates an end-to-end, blockchain-based connection between retailers and customers. 3. Esports, Media, and Marketing Are Decentralizing Advertising, video games, and media in general are among the leading use-cases of blockchain technology. Tracking creative materials from sounds and images to more complicated work can be frustrating, and it’s hard to know what’s effectively reaching who at the right times. “Blockchain and Advertising: The Possibilities and Realities” paired CTA’s Jack Cutts with Sara Bruno at Arent Fox, MIT Media Lab’s Michael Casey, and Brian Wong from Kiip to discuss how blockchain technology relieves the biggest pain points for ad agencies, including nearly $20 million lost to ad fraud. Casey joined more speakers from Nexus, BTC Inc, and Entertainment AI in another talk on how blockchain is remaking the media and entertainment business. And gaming (especially esports) could be found all over the CES floor, from conferences detailing how developers like Blizzard are adapting to modern digital economies to hardware companies like Nvidia, Razer, and Intel featuring pro gamers at their booths. 4. The Future Is Mobile-First Blockchain is a fundamental technology in the future IoT environment, and CES 2019 made this very clear. IBM’s Jason Kelley and EY’s Louise Keely were among the participants CBS’s Teena Maddox spoke with about cities around the world dipping their toes in blockchain technology. From smart cities to supply chain and operations, blockchain technology is working with IoT to create a mobile-first world. Autonomous cars, flying drones, home entertainment, robot and voice-activated assistants, smart homes, and so much more technology was on display. It’s more clear than ever that we’ll be connected to technology wherever we go. 5. ICOs Are Complicated We cannot possibly say enough about the shift from ICOs to STOs in 2018 and beyond. If you don’t know why, CES 2019 had a surprisingly poignant 90-minute session called “True Confessions: ICOs, Crypto, Tokens and VCs” with Yahoo Finance/USA Today’s Rob Pegoraro discussing the pitfalls of ICOs with people who lived through them. Tim Draper (Tezos), Matthew Roszak (Bloq), and Sam Trautwin (Carbon) were among the people discussing their experiences. Draper has by far the most interesting story, and if you’re not familiar with the Tezos soap opera already, click

6 days ago

Ethereum Price Uptrend Stalls Following Steep ETH/BTC Losses

After enjoying a rather positive wave of momentum it seems the Ethereum price action is stuck in sideways momentum again. Despite a minor gain in USD value, the losses in ETH/BTC are piling up fairly quickly. This has some users concerned, even though it seems no real changes should be expected prior to the upcoming Constantinople hard fork. Ethereum Price Trend Stalls A lot of Ethereum enthusiasts are looking forward to the upcoming Constantinople network upgrade. This new development will create another hard fork of Ethereum, although one that also paves the way for reduced block rewards and an eventual switch to proof-of-stake. Despite a failed test launch of Constantinople earlier, it appears most of the kinks have been ironed out in recent weeks. The hard fork “excitement” doesn’t necessarily reflect on the current Ethereum price trend. There is a 1.9% gain in USD value, pushing the Ethereum price to $155.8 again. At the same time, there is a net 4.1% loss in terms of ETH/BTC, which means the 0.04 BTC level couldn’t be maintained after all. One Ether is currently valued at 0.0382 BTC and may continue to drop lower in the hours to come. In fact, it would appear the Bitfinex maintenance - which was announced in advance - may trigger a bit of an ETH selloff against Bitcoin moving forward. Every time such a big exchange goes offline temporarily, it has become apparent there will be some minor losses for multiple top currencies. It seems things could return to normal fairly soon, although nothing has been confirmed as of yet. ETHUSD now pulling a matching chuffingcups fork. My guess is the finex maintenance will send it down. Is it greedy shorting both ETHBTC & ETHUSD?#eth #ethbtc $eth $ethbtc pic.twitter.com/N7OYAjOEJb — Gone Broke (in the 2018-2020 recession) (@gonebroke_) January 7, 2019 In more positive news, it would appear the DAI stablecoin is getting some decent attention lately. It is also important to note how this stablecoin is backed by Ethereum and MKR reserves to ensure no real shenanigans can occur. While it remains to be seen how this will affect the popularity of DAI moving forward, it is evident there are plenty of reserves to keep the pegged ratio afloat. $70 million worth of DAI backed by €280 million of pooled ETH and $380 million worth of MKR governance (to manage liquidations..if needed) via /r/ethereum https://t.co/ugm4MFoo2c hot in #reddit #ethereum #eth #crypto — Domain Address Info (@DomainAddress4u) January 7, 2019 It is not entirely uncommon for fake Twitter accounts to pop up every now and then. In most cases, these accounts try to imitate known individuals. A new fake John McAfee account has popped up claiming how all markets will pump in the coming days. It shouldn’t take too long until this account is shut down, although one can only hope this positive momentum does indeed come true. believe or not, all market will pump in several days...#BTC #ETH #LTC #BCH #DOGE #XVG #XRP.... — John McAfee (@HelloMcAfee) January 7, 2019 Based on the current market circumstances, it would appear the Ethereum price might not necessarily move up or down all that much. The current Bitcoin price momentum seems to pull all other markets up in the process. However, Ethereum will potentially lose more value in the BTC department, which is something that can make a lot of people wary. As such, the coming hours will get very interesting to keep an eye on. 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. Image(s): Shutterstock.com The post Ethereum Price Uptrend Stalls Following Steep ETH/BTC Losses appeared first on NullTX.

7 days ago

Bitmain Closes South American Office as Cutbacks Continue

Bitmain, the world’s largest crypto mining chip manufacturer which recently announced that it would be laying off 50-85% of its staff, has decided that part of its cutbacks will entail closing its office in Sao Paulo, Brazil which is responsible for operations across the continent. Bitmain has indicated that it intends to keep some mining operations in the country going but its larger presence and push for expansion will be cut back. The office was opened in the second half of 2018 with the intention of bringing the Chinese microchip maker closer to the mining industry in South America. (JF)

7 days ago

Crypto Projects Are Not Very Decentralized, Claims New Yahoo Finance Report

Cryptocurrencies rose to fame while talking about decentralization, but a new analysis by Token Analyst for Yahoo Finance UK claims otherwise. It suggests that of the top 50 currencies by trading volume*, the top 20 wallets hold an average of 78% of all coins. This shows how centralized token holdings are which appears to counter the decentralized vision these projects aim to achieve. Is Decentralization a Myth? A select few may have more control over a decentralized network than the average crypto enthusiast may imagine. Across the top 50 currencies by trading volume, the top 20 wallets get an undue power over the rest of the community as they hold an average of 78% of all coins. In 16 cases, the 20 biggest wallets were holding over 90% of the total token supply, revealing how centralization works in the background of decentralized crypto networks. Interestingly, a majority of the coins were issued to fund new companies that will use the tokens in their projects. However, Token Analyst’s Jai Prasad said that many of these projects did not even need crypto technology for their ideas to begin with. However, it must be noted that one crypto wallet, like at a cryptocurrency exchange, could hold the tokens of many people, as Yahoo Finance reported: Token Analyst’s Prasad said that the figures were likely boosted by the fact that many crypto investors hold their tokens on crypto exchanges, rather than opening their own wallets. That means the digital wallets of exchanges will be swelled by the holdings of many of their customers. More Details From the Token Analyst Study Token Analyst pointed to a high degree of centralization in token distribution across the top 50 ERC20 standard tokens (tokens created on the Ethereum blockchain). This included several high-end projects like Maker, Binance Coin, Augur, and 0x Protocol. However, Prasad noted that the centralization in top 20 wallets could be a result of people holding their coins with crypto exchanges. He noted that this is a bad sign for the industry as people are likely speculating on prices rather than buying tokens to use on their respective networks. He noted: “If 20 addresses (including the token team and exchanges) own 80% of the tokens, this tells me a few things: 1. Pre-sale investors got in early at large discounts; 2. No one is interested in using the network, and the tokens are used purely for speculation, and 3. future governance (crypto buzzword) will be at the beck and call of few.” Prasad continued to say that ICOs provide token holders a promise of participation in the governance of the network. If a few wallets hold most of the total supply, changes could be forced on the network. If the characteristics of being permissionless and censorship-resistant networks are absent, then we “probably don’t need a crypto network, to begin with,” he claims. Crypto Projects Are Not Very Decentralized, Claims New Yahoo Finance Report was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

8 days ago

Ethereum Studio ConsenSys and AMD Partner to Develop New Blockchain-Based Cloud Computing Infrastructure

Ethereum development studio ConsenSys and AMD, a computer chip maker, are reportedly teaming up to develop a new blockchain tech-based cloud computing infrastructure. According to a report, ConsenSys announced that it is working with AMD and Hola Holdings on W3BCLOUD, a cloud computing infrastructure. Through the collaboration, ConsenSys will provide prowess on how blockchain transactions may need to be processed. (VK)

9 days ago

Stablecoin projects are paying rebates to traders, and it caused a big headache for Paxos

When crypto exchange Gemini launched its much lauded stablecoin in 2018, it hoped the market would view its dollar-aregged coin as a regulated and more trustworthy alternative to Tether. Still, things got off to a slow start, with GUSD lagging behind its competitors. Gemini dollar currently has $90.3M in circulation while Paxos has $132.2M and USDC has $287.2M. To spur adoption, Gemini offered their Gemini dollar to some over-the-counter trading desks at a 2% discount - meaning each $1 token could be bought for 98 cents. However, traders spotted an arbitrage opportunity in the deal where they could buy the discounted GUSD and then exchange it for PAX, Paxos’ stable coin, at the full dollar price - pocketing the 2% difference. That caused headaches for Paxos. According to CEO Chad Cascarilla, traders exchanged vast sums of GUSD to PAX and then opened up dozens of accounts under relatives’ names to bypass Huobi, a fellow exchange’s, $10k transaction limit. Traders can exchange stable coins - including Pax - on Huobi, but in order to redeem those coins for USD they have to go through the original issuer — in this case, Paxos. The result? A wave of users wanting to cash out their newly acquired PAX. “Some customers began structuring withdrawals to get around them; they were creating accounts under other people’s names who were not the owners of the funds to try to withdraw more PAX than the $10k limit — as many as 30 accounts in the same day,” Cascarilla said in a blog post after Paxos picked up on the conversion trick. To be sure, Paxos also offers rebates, according to a spokeswoman. “In certain cases we have [paid rebates] for a small handful of market makers who act as a distribution channel for us (wholesale/retail model).” The firm, which claims to scrupulously adhere to Wall Street’s KYC norms, responded by investigating those accounts and delaying redemptions. Some users felt that Paxos had hassled those redeeming their PAX for dollars about the source of their funds and their trading strategy. Unsurprisingly, given the conspiratorial nature of the crypto world, accusers lambasted the New York-based firm, accusing Paxos delaying redemptions to preserve their market cap. That wasn’t the motivation, according to Chad Cascarilla, Paxos CEO, who told The Block that the firm was following procedure. “Every time a redemption comes in, and we’ve now processed $200 million, it goes through a compliance check.” And whenever the firm’s systems pick up on something suspicious, Paxos digs deeper. And sometimes the firm has to close accounts. “Obviously, no business wants to deny or stop customers from using their products. But to operate legally, there are certain customers we cannot take — in this case specifically, customers who are trying to circumvent AML/KYC rules,” Cascarilla said in a Medium post addressing the controversy. “Every account we’ve closed has been connected to the Huobi incident,” Cascarilla said, noting how some users had opened accounts in their brother’s, roommate’s, and grandmother’s names. Some market observers criticized Gemini’s discount. “Sounds like Gemini was basically paying to get volume going in their stable coin,” said Joe Saluzzi, a market structure wonk who runs broker Themis Trading. “Reminds me of when BATS first started their exchange. They offered a pricing incentive to drive volume to their exchange and were willing to lose money to gain share.” Dave Weisberger, CEO of crypto data technology provider CoinRoutes, said rebates make a lot of sense at first glance.”There’s not a lot of liquidity in Gemini dollar pairs so if you’re Gemini you are going to want to come up with solutions to increase liquidity,” he said, referring specifically to Gemini. Still, he said the approach they took failed to take into account the self-interest of market makers. “The idea of priming the pump is rational but only as part of a full ecosystem development plan,” he said. “If you fail to understand that market makers are not your friend, and you give them free arbitrage, then they are going to take it. These sort of situations happen,” the former market maker and electronic trading veteran added. Gemini declined to comment. The post has been updated to note that Paxos also pays rebates as do other stablecoin firms. The post Stablecoin projects are paying rebates to traders, and it caused a big headache for Paxos appeared first on The Block.

9 days ago

Gemini gave trading firms a stablecoin discount, and it caused big headaches for one of its rivals

When crypto exchange Gemini launched its much lauded stablecoin in 2018, it hoped the market would view its dollar-pegged coin as a regulated and more trustworthy alternative to Tether. Still, things got off to a slow start, with GUSD lagging behind its competitors. Gemini dollar currently has $90.3M in circulation while Paxos has $132.2M and USDC has $287.2M. To spur adoption, Gemini offered their Gemini dollar to some over-the-counter trading desks at a 2% discount - meaning each $1 token could be bought for 98 cents. However, traders spotted an arbitrage opportunity in the deal where they could buy the discounted GUSD and then exchange it for PAX, Paxos’ stable coin, at the full dollar price - pocketing the 2% difference. That caused headaches for Paxos. According to CEO Chad Cascarilla, traders exchanged vast sums of GUSD to PAX and then opened up dozens of accounts under relatives’ names to bypass Huobi, a fellow exchange’s, $10k transaction limit. Traders can exchange stable coins - including Pax - on Huobi, but in order to redeem those coins for USD they have to go through the original issuer — in this case, Paxos. The result? A wave of users wanting to cash out their newly acquired PAX. “Some customers began structuring withdrawals to get around them; they were creating accounts under other people’s names who were not the owners of the funds to try to withdraw more PAX than the $10k limit — as many as 30 accounts in the same day,” Cascarilla said in a blog post after Paxos picked up on the conversion trick. The firm, which claims to scrupulously adhere to Wall Street’s KYC norms, responded by investigating those accounts and delaying redemptions. Some users felt that Paxos had hassled those redeeming their PAX for dollars about the source of their funds and their trading strategy. Unsurprisingly, given the conspiratorial nature of the crypto world, accusers lambasted the New York-based firm, accusing Paxos delaying redemptions to preserve their market cap. That wasn’t the motivation, according to Chad Cascarilla, Paxos CEO, who told The Block that the firm was following procedure. “Every time a redemption comes in, and we’ve now processed $200 million, it goes through a compliance check.” And whenever the firm’s systems pick up on something suspicious, Paxos digs deeper. And sometimes the firm has to close accounts. “Obviously, no business wants to deny or stop customers from using their products. But to operate legally, there are certain customers we cannot take — in this case specifically, customers who are trying to circumvent AML/KYC rules,” Cascarilla said in a Medium post addressing the controversy. “Every account we’ve closed has been connected to the Huobi incident,” Cascarilla said, noting how some users had opened accounts in their brother’s, roommate’s, and grandmother’s names. Some market observers criticized Gemini’s discount. “Sounds like Gemini was basically paying to get volume going in their stable coin,” said Joe Saluzzi, a market structure wonk who runs broker Themis Trading. “Reminds me of when BATS first started their exchange. They offered a pricing incentive to drive volume to their exchange and were willing to lose money to gain share.” But Dave Weisberger, CEO of crypto data technology provider CoinRoutes, said Gemini’s strategy makes a lot of sense at first glance. “There’s not a lot of liquidity in Gemini dollar pars so if you’re Gemini you are going to want to come up with solutions to increase liquidity,” he said. Still, he said the approach they took failed to take into account the self-interest of market makers. “The idea of priming the pump is rational but only as part of a full ecosystem development plan,” he said. “If you fail to understand that market makers are not your friend, and you give them free arbitrage, then they are going to take it. These sort of situations happen,” the former market maker and electronic trading veteran added. Gemini declined to comment. The post Gemini gave trading firms a stablecoin discount, and it caused big headaches for one of its rivals appeared first on The Block.

9 days ago

Are Bitcoin Fundamentals Getting Stronger or Weaker? Huobi Weekly Report Reveals Striking Observations

A lot of people on the street have spoken about how the bitcoin fundamentals are bettering, but a recent weekly update by Huobi Research speaks a slightly different story. The weekly update captures some data points put forward by Firecoin Blockchain Big Data which claims that the last two weeks have not been that great for Bitcoin fundamentals. Are Bitcoin fundamentals getting weaker? Huobi Research mentioned the first weekly update of 2019 by the data team of Firecoin Blockchain Research Institute and states that the fundamentals of cryptocurrencies started 2019 on shaky ground. Huobi Research shared the first weekly update of 2019 which captured some really interesting points put forward by the data team of Firecoin Block Chain Research Institute. The report puts forward the following key bitcoin fundamental findings. The number of new Bitcoin addresses has dropped significantly for two consecutive weeks, and this week it hits a new low of the past half a year; The number of transfers and the volume of transactions has declined over these two weeks The number of active Ethereum addresses has decreased; The number of EOS transactions has dropped, and the number of its new addresses has dropped to nearly 50%; The cryptocurrency market transactions have increased in the last week. The IOTA was the biggest gainer, and the NEM was the biggest loser. As to transaction volume, Maker got the biggest rise, and the ETC was the biggest loser. The report further extends the research on social media trends as well. The key finding there were: For digital currencies, in China, the most trending digital currencies were Bitcoin, Ethereum, and EOS while internationally it was BTC, ETH, and XRP With regards to events in the crypto industry, the most trending keywords in China are “bear market”, “bull market” and “bifurcation”, while across the global the key trending words were “ SCAM fraud”, “wallet” and “mining” In the field of cryptocurrency and exchange category, the keywords trending in China were Currency Security and Sun Yuchen while globally the keywords were Coinbase, Satoshi, and Binance. The report also captures the analysis of Github data. According to the report: 1)ETH, 2) BTC and 3) EOS saw maximum praises this week 1) BTC, 2) ADA and 3) IOTA saw the maximum number of followers this week 1) ETH 2) IOTA 3) ADA saw the maximum number of lines of code added this week While it could be anticipated that due to year-end holidays this decline in the number of accounts was seen, but if the trend continues like this crypto fundament would be tested big time. What do you think was the reason for this dip in new accounts for Bitcoin? Do let us know your views on the same. The post Are Bitcoin Fundamentals Getting Stronger or Weaker? Huobi Weekly Report Reveals Striking Observations appeared first on Coingape.

9 days ago

The 800lb Shitcoin: Why Bitcoin SV Market Cap Is Pure Fantasy

Market capitalization is the blockchain equivalent of an online horoscope. It’s total bollocks, but it holds a powerful fascination. And despite repeatedly pointing out the fallacies of the metric, we’re not immune to fixating on it ourselves: every time there’s a drop, we check the charts for the latest flippening. But new data suggests that cryptocurrency market cap may finally be a metric worth noting. It’s not as intuitive as the method used by Coinmarketcap, but neither does it appear to be utter bunk. Here’s the problem with market capitalization, at least when it comes to gauging a currency’s value. When CMC calculates the Bitcoin market cap, they do a straightforward multiplication: latest market price times the total number of existing coins. That means market capitalization is as accurate as exchange prices: in other words, not at all. If you were John McAfee, or a bet-losing Roger Ver, all you’d need to do is market buy a few satoshis for a hundred dollars each on a big exchange - and hey presto! Your currency has a multi-trillion-dollar market cap! And this doesn’t even include the vast number of lost, missing, or simply dormant coins that are not impacting the crypto-economy. The problem is worse for forks: their market capitalization includes all possible coins, even those that have not been claimed. For Bitcoin Cash (BCH) that’s not a huge issue: 9.3 million BCH have been active since Block 478558, when the fork occurred, compared to 9.8 million BTC coins. But it’s a huge distortion for Bitcoin SV, where the capitalization is calculated on the premise that there are 17 million BSV coins just waiting for the right buyer. Actual data calculated through the Blockchair API show that, of the unspent outputs existing on BSV at the time of the fork, only 4.2 million have actually been activated. BCH didn’t fare much better, with 5.4 million coins being spent.* That means that one in five BCH hodlers are too lazy to split their wallets, even for free money, if that free money is coming from Craig Wright. Counting the number of active addresses makes the same point in a different way: Active addresses for BTC (red), BCH (blue) and BSV (orange).Except for two spikes, the number of active BSV wallets range between a quarter to a half of BCH activity, and both were completely dwarfed by BTC. With less than a quarter of possible coins being activated, BSV’s ‘real’ market cap should lie somewhere between Maker and NEO. CoinMetrics Realizes The Problem Luckily, we’re not the only ones who find CMC’s data... incomplete. CoinMetrics, which broke the story of the invisible BTCP Premine, has made a business of accurately measuring blockchain activity, and they’ve invented a new measure for crypto value. The result is “realized capitalization,” a substitute for market capitalization which places more weight on recent transactions than on on older ones. Transactions outputs in this measurement are valued according to the market price of their latest movement. According to CoinMetrics, “Its crux is to value different part of the supplies at different prices, instead of using the daily close as market cap does.” The result looks something like this: This is still an imperfect metric-the weighting system has been slow to catch up with the latest drops, giving BTC an improbably-high capitalization of $80bn. So why is that? The metric gives a historically-weighted capitalization for each Bitcoin transaction based on each coin’s latest movement. For example, Satoshi’s coins are valued at nearly $0, matching the price when when they were mined, but a recent bitcoin movement will be valued at current prices. Realized capitalization does have some distortions from the more traditional metric, but it does inject a measure of actual economic activity into cryptocurrency movements. According to this metric, the squiggle on the right is Bitcoin SV-with a real value somewhere between Doge and Bitcoin Gold, at around $500M - a far cry from CMC’s suggestion that its market cap is $1.5bn. Right now it only works for UTXO ledgers, like Bitcoin, but Coinmetrics says that it can be generalized to other blockchains “with some effort” For account-based currencies like XRP or Stellar, the realized capitalization metric would likely omit long-term escrows and unreleased tokens. As always, caution is in order, especially when dealing with new metrics. Coins on a custodial exchange might change hands several times without changing their blockchain address, and some users might move coins between several wallets without transferring ownership. All the same, the data appear to confirm what most of the crypto world already knew: that BSV is exactly one letter too long. Despite having a nominally high market cap, any serious metric would put Satoshi’s Vison very far outside the top ten. The author is invested in Bitcoin, Bitcoin Cash and Bitcoin SV, which are mentioned in this article. *Special thanks to Blockchair‘s

10 days ago

Nvidia Faces Class-Action Suits from Crypto Investors

GPU maker Nvidia is facing several class-action lawsuits from crypto investors who aren’t happy about the company’s massive stock drops. During the bitcoin boom of 2017, the prices of GPUs went up tenfold as more and more miners aimed to get in on the action. Nvidia - which manufactures GPUs - ultimately claimed that they were “masters at managing” the crypto space and said that any drops in the demand for crypto wouldn’t hurt business. Crypto Investors Want Their Money Back Unfortunately, this wasn’t the case. At the time of writing, Nvidia’s stock prices are down roughly 50 percent from where they stood during 2017. Investors have lost barrels of cash and aren’t happy about the end results. Nvidia is now facing several class-action suits from these investors who feel that Nvidia falsely advertised how secure it was and provided misleading information to get new investors involved. One thing that many investors say Nvidia tried to do was account for its oversupply of bitcoin and cryptocurrency miners by increasing their prices dramatically. Wanting to ensure every miner got his or her wish, Nvidia ordered several extra mining rigs and additional equipment, believing they would be sold without issue to customers. Unfortunately, when the customers didn’t come, Nvidia tried to make up for its overabundant supply of miners by firing their prices up. The Schall Law Firm - which is representing all investors allegedly wronged by the company - has issued an official statement on the matter and is now searching for investors who may have lost as much as $100,000 or more by putting their money into Nvidia. The statement reads: The Details of the Suit “According to the complaint, the company [NVIDIA] made false and misleading statements to the market. NVIDIA touted its ability to monitor the cryptocurrency market and make rapid changes to its business as necessary. The company claimed to be ‘masters at managing our channel, and we understand the channel very well.’ NVIDIA also claimed to the market that any drop off in demand for its GPUs amongst cryptocurrency miners would not negatively impact the company’s business because of strong demand for GPUs from the gaming market. Based on these facts, the company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about NVIDIA, investors suffered damages.” In total, Nvidia is facing approximately four separate class-action lawsuits on similar grounds. Do you believe companies like Nvidia are responsible to their investors under all circumstances? Post your comments below. Image courtesy of Shuttershock The post Nvidia Faces Class-Action Suits from Crypto Investors appeared first on Live Bitcoin News.

10 days ago

Crypto Giant Coinbase Made Strides In Q4 2018, Even As Bitcoin (BTC) Plunged 40%

Although Coinbase has recently become a controversial company, especially as it began to add crypto assets left and right, the company has long had an unrelenting drive for innovation. Since setting up shop in 2012, the San Francisco-headquartered startup, headed by a former Airbnb employee with visions of grandeur, has quickly set the industry standard in a number of subsectors. The firm may have started as a consumer-centric exchange, which sported a simple (near-)one-click interface, but Coinbase has evolved far beyond its original premise now. And interestingly, even as digital assets like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) — Coinbase’s lifeblood — continue to lose value, the firm has only doubled-down on its expansion and development efforts. Related Reading: Only Coinbase, Binance Have 300k+ Users, Fake Volume on Most Crypto Platforms Coinbase Outperformed The Bitcoin Sell-Off Recent Giving Pledge signee Brian Armstrong, the fervent, sometimes controversial chief of Coinbase, recently issued a note to his underlings — a swelling group of talent — accentuating the fact that the company has not only survived but thrived in the recent bearish downturn. The American firm, which now has offices around the globe, started Q4 of 2018 with a bang, securing $300 million in funding from Tiger Global, Y Combinator, A16Z, Polychain Cap, and a number of other crypto-friendly venture groups. This round valued Coinbase at a jaw-dropping $8 billion, making the firm arguably the most valuable company in the entirety of Bitcoin ecosystem. And since that $300 million cash boost, which was explained to be allocated towards global expansion efforts, institutional services, and applications for crypto, Coinbase has arguably been on the up-and-up. As explained in Armstrong’s letter, released to the public in an evident attempt at transparency, Coinbase launched a number of pertinent products, including support for Circle-backed USD Coin, a revamped version of Earn, PayPal withdrawals, and crypto-to-crypto trading, to only name a few products. The firm also added a dozen crypto assets to its platform, an evident sign of changing times, with notable additions including ZCash (ZEC), Basic Attention Token (BAT), Maker (MKR), and 0x (ZRX). In a podcast, vice-president Dan Romero explained that firm’s clientele has begun to clamor for crypto asset support, presumably catalyzing the recent listings. Along with adding the aforementioned tokens and products, Coinbase forayed into six new regions, opening the ground-breaking potential of crypto to millions more. The Coinbase chief also explained that his firm made a number of investments, into organizations such as Alchemy, Securitize, Starkware, Nomics, and Abacus. Closing the retrospective post, Armstrong made his excitement and gratitude more than apparent when he wrote: “I continue to be so impressed by the ability of this team to execute on aggressive timelines, all while solving problems that have never been solved before. This was a year of scaling Coinbase up to meet the demand of the market and efficiently executing to serve our customers.” Great Year Ahead For The Crypto Juggernaut Interestingly, the firm already seems to have prospects for a great 2019. As reported by NewsBTC earlier today, an apparent survey from Coinbase has polled users on the appeal of a subscription model, which would reduce “maker” and “taker” fees for Pro traders, while offering perks for premium members. If implemented, this program would be the first of its kind in the cryptosphere, and would likely propel the company’s trading platforms to new heights. Asiff Hirji, president of the fledgling company, recently hinted that 2019 will be a great year for institutional participation in cryptocurrencies. In an interview with CNBC, Hirji explained that Coinbase’s custodial service “has blown by internal goals,” as “hundred of institutions” have boarded onto the platform in recent memory. Seeing that Coinbase has been playing a role in that facet of this industry, it can be assumed that this influx of Wall Street hotshots will trickle down to the company’s growing roster of institutional products. Zeeshan Feroz, the chief at Coinbase’s U.K. branch, also expressed a similar positive outlook, but from a broader perspective. He said: “I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the market... I think if you look at last year, a lot of the focus was on people who bought crypto from an investment point of view and a lot of projects raised a ludicrous amount of money as a result of that.” Featured Image from Shutterstock The post Crypto Giant Coinbase Made Strides In Q4 2018, Even As Bitcoin (BTC) Plunged 40% appeared first on NewsBTC.

10 days ago

Cryptocurrency Market Update: Friday Correction Back to $130 Billion

FOMO Moments Cryptocurrency markets retreating a little this Friday; Bitcoin Cash, SV and EOS falling back, Tron static. There has been a slight pullback on crypto markets today and further upward momentum could not be maintained. Total market capitalization has retreated a little but remains above $130 billion. Bitcoin could not break above strong resistance at $4,000 and has fallen back a little to $3,850 at the time of writing. Daily volume has dropped again also from over $5 billion to $4.5 billion as momentum wanes. BTC’s loss on the day is currently 1.75%. Ethereum has also pulled back but only a fraction and is still over $150. The run up to Constantinople should keep ETH buoyed up and even extend gains back to $200 over the coming month. Its lead over XRP in third has been extended to $1.1 billion. The top ten is mostly red at the time of writing as markets correct once again from yesterday’s prices. The two altcoins losing the most are Bitcoin Cash, as usual, and EOS, both shedding over 4%. Bitcoin SV is back below $90 again with a 3% loss and the rest are dropping 1-2 percent during the day’s Asian trading session. Only Tron has remained in the green but only by a tiny fraction. The top twenty is equally rouge as altcoins fall back behind their big brother. Ethereum Classic has taken the biggest hit of 4% at the time of writing. Monero and Zcash are down over 3% each and the rest are sliding around 2% on the day. Maker is the only crypto in the green but that is less than a percent. A new entry to the top one hundred is getting today’s fomo pump as REPO surges 45%. DEX and Chainlink are both up around 20% at the moment but they are likely to dump again the following day. Only two altcoins are dumping double figures right now, Aurora and Kucoin Shares dropping over 10%. Just over 2% has been lost from total crypto market capitalization over the past 24 hours. This has dropped the figure back to $131 billion. Daily volume has tailed off from $17 to $14 billion as the markets ebb and flow. The weekly picture looks much better as markets are up 9% since this time last Friday. FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Friday Correction Back to $130 Billion appeared first on NewsBTC.

10 days ago

Daily Berminal Brief: BitTorrent To Launch Its Own Token, And Overstock Is Set To Pay Its Taxes In Bitcoin

The State of The Market - January 4, 2019 BTC: $3,815.12 (-1.83%) XRP: $152.13 (1.21%) ETH: $0.358153 (-1.86%) Another slow day for the crypto market, as the total market cap changed by less than $2 Billion in the last 24 hours. Except for Ethereum and Tron, all of the other top 25 cryptocurrencies are in red right now. However, they're all down by less than 2%. Ethereum is holding on to its support at $150 and managed to make small gains even when the market is slightly bearish. Tron is in green from the BitTorrent news, which it acquired last year. In other news, Coinbase is considering a subscription model. A recent survey from Coinbase questioned users on new services they might desire and changes to the current fee structure. The survey also asked participants if they would be interested in paying a "modest subscription fee" in exchange for reduced maker and taker fees and other incentives. Also, popular cryptocurrency exchange BitMEX published a front-page ad on UK's The Times to celebrate 10 years of Bitcoin. The ad thanked Satoshi for his creation. Bitcoin genesis block was mined on January 3, 2009. Yesterday marked the 10-year anniversary of Bitcoin blockchain. 1) On Thursday BitTorrent announced that it will create its own cryptocurrency which will be built on Tron's network. BitTorrent Token (BTT) will be issued by the Singapore-based BitTorrent Foundation. BitTorrent has more than 100 million users and the company was acquired by Tron in 2018. Tron founder Justin Sun said the issuing is significant a new generation of content generators will be empowered with "the tools to distribute their content directly to others on the web." BTT will be used to pay content generators and BitTorrent users will be able to purchase more bandwidth for faster downloads. Sun explained that the goal is to incentivize users to keep more files available on the network. Tron also confirmed that the company will not extract a profit from these transactions. BTT will run on TRC-10 protocol instead of Ethereum's ERC-20 and the BitTorrent Token white paper indicates that BTT's coin supply will be capped at 990 billion. 2) Overstock.com used its investor portal to announce that it would pay a portion of its state commercial activity taxes in the U.S. state of Ohio by using Bitcoin. This would make Overstock.com the first major company to pay its taxes in cryptocurrency and Overstock CEO Patrick Byrne said the company was "proud to partner" with the Ohio government in order to "help usher in an era of trust through technology for our nation's essential financial systems." Byrne went on to explain that he believes "thoughtful governmental adoption of emerging technologies…is the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy." 3) Nasdaq-powered crypto startup has announced its plans to tokenize stocks. Estonia-based DX.Exchange will allow its clients to buy crypto tokens representing Nasdaq-listed shares. Customers will be able to purchase using both Cryptocurrencies and fiat. The trading platform is set to launch on January 7. Customers will not have direct ownership of the shares. However, the tokens are backed 1:1 to the real world stocks. The tokens will be generated on Ethereum blockchain as ERC 20 tokens. During the launch, the platform will list multiple tech stocks such as AlphaBet, Apple, Amazon.com, Facebook, Microsoft Corporation, Tesla, Netflix, Baidu, Intel Corporation and Nvidia. (VS)

10 days ago

Coinbase is Considering a 'Subscription Model' Based on User Demand

A recent survey from Coinbase questioned users on new services they might desire and changes to the current fee structure. The survey also asked participants if they would be interested in paying a “modest subscription fee” in exchange for reduced maker and taker fees and other incentives. Coinbase is searching for ways to remain competitive in the fast-paced crypto-industry and a recent report from the Blockchain Transparency Institute showed that Coinbase was the far ahead of other exchanges in terms of daily active users (DAUs) with more than 100,000 DAUs, but the exchange fell behind other top exchanges when transaction volume was considered. Coinbase user transactions averaged transactions worth $189, while Binance users averaged $2,137 each. A subscription model could possibly encourage traders to purchase and sell more crypto on Coinbase but at the moment the exchange is simply exploring a range of different product options. (RS)

10 days ago

MKR Holders Vote to Reduce the Dai Stability Fee

On December 21, MKR token holders voted to restore the Dai Stability fee to the initial 0.5% from 2.5%. MakerDAO published a Medium post earlier this week, explaining that the recent price volatility in the crypto market resulted in an increased demand for DAI. Consequently, this event led triggered the proposal. MakerDAO stated that it suggested the reduction of stability fee for Dai to incentivize more minting, and increase supply. The MakerDAO system denominates stability fee in Dai, but users must pay it in MKR. The firm then burns the MKR to reduce the supply and increase its price. (VK)

17 days ago

MakerDAO: the decentralized central bank in action

Two days ago, maker holders voted to lower interest rates ("stability fee") from 2.5% to 0.5%. Since the rate was lowered, dai supply has increased by about 9% (\~58mm to \~63.5mm) and the amount of pooled ether increased by about 320k (.3% of total ether supply) -- about 1.6% of all ether is now basically held as collateral for MakerDAO's smart contract. Meanwhile, the price of MakerDAO's underlying asset, ether, has rallied about 13%, exceeding all other significant cryptocurrencies. Other factors certainly play a factor, but the parallels to central banking are pretty clear. As more ether is locked under MakerDAO, the stability fee is going to have an increasing impact on the price of ether. I'd expect this to hold true for future assets held as collateral under multi-collateral dai, as well. Meanwhile, the overall decentralized marketplace is continuing to evolve and mature (see: pick your favorite dex, [compound.finance](https://compound.finance), dydx, growth in dai trading pairs). MakerDAO is well positioned to become the "central bank" that keeps this marketplace running. A decentralized central bank in action. It's going to be fascinating to watch this evolve, especially once we move to MCD.

21 days ago

Students at the University of Wisconsin create Nano speed test tool

Two days ago, maker holders voted to lower interest rates ("stability fee") from 2.5% to 0.5%. Since the rate was lowered, dai supply has increased by about 9% (\~58mm to \~63.5mm) and the amount of pooled ether increased by about 320k (.3% of total ether supply) -- about 1.6% of all ether is now basically held as collateral for MakerDAO's smart contract. Meanwhile, the price of MakerDAO's underlying asset, ether, has rallied about 13%, exceeding all other significant cryptocurrencies. Other factors certainly play a factor, but the parallels to central banking are pretty clear. As more ether is locked under MakerDAO, the stability fee is going to have an increasing impact on the price of ether. I'd expect this to hold true for future assets held as collateral under multi-collateral dai, as well. Meanwhile, the overall decentralized marketplace is continuing to evolve and mature (see: pick your favorite dex, [compound.finance](https://compound.finance), dydx, growth in dai trading pairs). MakerDAO is well positioned to become the "central bank" that keeps this marketplace running. A decentralized central bank in action. It's going to be fascinating to watch this evolve, especially once we move to MCD.

21 days ago

MKR Holders Vote Against Short-Term Self-Interest To Lower Stability Fees

Since August, the stability fee for CDP-issued loans in Dai had been set at 2.5 percent. Now, MKR holders have voted it back down to 0.5 percent.

23 days ago

Enjoy some Friday listening courtesy of the @a16z Podcast an...

Enjoy some Friday listening courtesy of the @a16z Podcast and Maker CTO @RealZandy as they chat #stablecoins and mo… https://t.co/2EXjwE5ZsY

23 days ago

EOS is a DAO

This article is a response to this piece by Arjun Balaji. In Arjun’s article, he asks the question: “Why should we take EOS seriously, when it’s clearly a plutocracy?” In the context of a crypto asset as digital gold or Money 2.0, this view may be correct. But EOS isn’t that. EOS aims to be a decentralized autonomous organization (DAO). This industry has largely failed to distinguish between different forms and applications of blockchain technology, lumping them all under the basket of “cryptocurrencies.” Many (if not most) blockchain tokens, including EOS, aren’t meant to be digital gold. EOS the token is a pro-rata claim on access to the EOS network’s resources, as well as a pro-rata claim on its governance rights. EOS the network is a decentralized operating system governed by a DAO. All publicly traded companies are plutocracies; the point is that people who are financially invested in the platform should have more influence. DAOs are an attempt to create a new form of corporation, in which users, developers, and block producers collaborate according to the rules of the protocol, rather than at the directive of the CEO. EOS is built on delegated-proof-of-stake (DPOS), a form of proof-of-stake that gives token holders governance power relative to their stake in the system. In other words, those who have more stake, and thus have more at risk, are given more say. This is not some unfortunate byproduct of the system— it’s an explicit design choice! Money vs DAOs Proof-of-stake (PoS) systems, especially those with stake-weighted governance, can create angst amongst those who believe that this technology stands to become the next form of money. Money is a universal system that underpins all economic activity, globally. The problem with PoS governance is that it allows those with the most money to control the money itself by virtue of their holding more of it. That’s a bad outcome and one that does not appear to solve the centralization problems of the status quo, in which a relatively small set of actors (e.g. central banks) control the system. One of Bitcoin’s greatest features is what Pierre Rochard describes as its “peer-to-peer governance” model. Just because you own more of the money, does not mean you get a greater say in how it behaves or evolves. But EOS does not aim to be global state-free money. EOS is a DAO. DAOs should behave much more like businesses than money— they are owned by stakeholders who collectively control the entity. Like businesses, these DAOs must compete with others in the market to offer the best goods and services to a set of potential users. EOS is a DAO that provides a decentralized operating system for applications built on a distributed ledger. EOS must compete with other blockchains and other DAOs that offer similar services. This includes not only Ethereum and Dfinity, but also other chains built using the free, open-source EOSIO software published by Block.one; Telos and Worbli are two such examples. If any one of these chains fails to meet user expectations— whether that’s because of collusion, centralization, poor technical performance, chaotic governance, or anything else— then stakeholders will sell, and users will go elsewhere. This is crypto competition and evolution in action. In a world of free, open-source software, where anyone can borrow anyone else’s ideas, this competition is likely to be intense. Stakeholders are the key constituents that guide the evolution of these networks in order to maximize their value. Large holders stand to lose more if the system fails; with more skin in the game, they are given more say. They also stand to gain more if the system succeeds; this incentivizes them to act in ways that maximize value. While we as an industry are still learning about how blockchain governance models should work, I would argue that systems that have purely money use cases seem to function better with off-chain governance that doesn’t take into account users’ stake. DAO-like systems, on the other hand, can potentially benefit from stake-weighted governance. It’s still early, and these hypotheses are still being tested. EOSIO Is Designed For DAOs So within the context of EOS as a DAO, what exactly makes it so compelling? Simply put, EOSIO is the most performant software in existence for decentralized applications. It’s the most user-friendly blockchain platform, with features like human-readable account names, customizable account permissions, zero individual transaction fees, high-throughput, low latency, deferred transactions, and more. The ecosystem that’s been built around mobile use for EOS is far more advanced than most onlookers recognize: you can use a mobile wallet to send tokens, play games, trade on a DEX, and more, signing all transactions with TouchID, on EOS today. The user experiences built on EOS are far and away the best of blockchain-based applications. Because of its unique architecture and usability, the EOS platform is best p

24 days ago

Coinbase Now Available in Six New European Markets

In the run-up to the final announcement of the 12 Days of Coinbase program, the US-based cryptocurrency exchange today announced that it is rolling out its platform to six new markets in Europe. The regions where Coinbase will now be available are- Andorra, Iceland, Isle of Man, Lithuania, Gibraltar, and Guernsey. Expanding Global Footprint In a blog post announcing its expansion into the six new jurisdictions, Coinbase described its journey between 2012 and 2018, where it expanded from the US to 33 other countries. Users in the newly added jurisdictions can get full access to Coinbase.com, as well as the Android and iOS apps of the exchange. Over time, Coinbase Pro and Coinbase Prime will also be made available in these regions. The exchange also noted that it would continue to add new assets and expand rapidly into new markets next year to meet the customer demands. Moving to the End of the 12 Days of Coinbase The exchange’s 12 Days of Coinbase program is coming to an end, and several new features and announcements were added during the last 11 days. Coinbase suggests: “Cryptocurrencies are global by their very nature, and we believe that they should exist without borders. To realize our mission means making crypto easily available to everyone, irrespective of their geographical location.” The 12 Days of Coinbase Timeline Day 1- WeGift e-Cards: Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more. Day 2- Zcash Donation to Venezuelan families: The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families. Day 3- Cryptocurrency: The future of finance and money (Video): Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization. Day 4- New Watchlist feature: Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist. Day 5- Enables PayPal withdrawals: In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts. Day 6- Bitcoin donation for Syrian refugees: Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto. Day 7- Coinbase educates users on USDC: TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1. Day 8- Enables direct crypto conversions: Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps. Day 9- Coinbase Pro Lists four ERC20 Tokens: Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions. Day 10- Launches Coinbase Earn: Coinbase Earn allows participants to earn crypto while learning about it at the same time. The program has launched initially in invite-only mode. Day 11- Welcomes Customer From New European Regions Coinbase will now be available for customers in Iceland, Andorra, Isle of Man, Lithuania, Gibraltar, and Guernsey. Day 12- To be confirmed... Coinbase Now Available in Six New European Markets was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

24 days ago

Coinbase Opens its Doors to Customers in 6 New European Markets

Starting December 20th 2018, residents of six new European countries will now have access to the cryptocurrency exchange of Coinbase. The six new countries are as follows: Andorra Gibraltar Guernsey Iceland Isle of Man Lithuania Since its launch in 2012, the exchange strives towards creating an open financial system for the globe. They have managed to do this by expanding their reach outside the US to 33 countries across the world; and now 6 more in Europe. Access Limited to Coinbase.com and Mobile Apps New customers in these jurisdictions will only have full access to Coinbase.com and the platform’s mobile applications on both iOS and Android. Coinbase Pro and Prime will initially not be available for the new customers, but the exchange has promised to avail them with time. Coinbase Plans to Continue its Expansion Globally The team at Coinbase went on to state that 2019 will be a year of continual expansion. Next year we will continue expanding rapidly into new regions and adding assets to the Coinbase platform to meet customer demand. Cryptocurrencies are global by their very nature and we believe that they should exist without borders. To realize our mission means making crypto easily available to everyone, irrespective of their geographical location. Conclusion of the ’12 Days of Coinbase’ Event News of Coinbase expanding to 6 new countries is the 11th announcement in the 12 Days of Coinbase event that concludes today, December 21st. Below are the announcements the exchange has made in the past 11 days. Expansion of its e-Gift card program to US customers Donation of $10,000 in ZCash (ZEC) to more than 50 Venezuelan Families A video showcasing Coinbase’s belief in economic freedom Launching a Watchlist Availability of PayPal Withdrawals for its US customers $10,000 gift in Bitcoin ($BTC) to GiveCrypto.org Listing of USD Coin (USDC) Direct crypto conversion capabilities on Coinbase Listing of Dai (DAI), Golem (GNT), Maker (MKR) and Zilliqa (ZIL) Launch of Coinbase Earn that lets users to earn crypto while learning about them in a simple and engaging way Welcoming customers in the aforementioned six European countries What are your thoughts on Coinbase opening its doors to customers in Andorra, Gibraltar, Guernsey, Iceland, Isle of Man and Lithuania? Please let us know in the comment section below. The post Coinbase Opens its Doors to Customers in 6 New European Markets appeared first on Ethereum World News.

24 days ago

Miner Maker Ebang Reports ‘Significant’ Profit Drop in New IPO Filing

Crypto miner maker Ebang has refiled its draft IPO prospectus in Hong Kong, indicating a downturn in business in Q3.

24 days ago

Atari Licenses Blockchain Versions of Games, Including Roller Coaster Tycoon Franchise

Video game maker Atari has entered into a license agreement with blockchain startup Animoca Brands, giving the company full authorization to port some of Atari’s most popular franchises to a decentralized ledger-based platform. In a press release issued December 18, 2018, Atari said that it had granted Animoca the rights to produce and publish blockchain versions of Roller Coaster Tycoon...Read...

24 days ago

O Bitcoin voltou a ser negociado acima de US $ 4.000. Mas por quanto tempo?

Por: Livecoins O mercado parece estar melhorando depois que o Bitcoin passou a ser negociado acima de US $ 4.000 pela primeira vez desde o início de dezembro. Com um aumento de preço de mais de 8% nas últimas 24 horas, muitos membros da comunidade de criptomoedas estão aliviados e otimistas. Pode ser muito cedo para celebrar, no entanto. “O mercado está extremamente sobrevendido pela maioria das métricas - perto das mais vendidas na história do Bitcoin”, disse Mike McGlone, analista da Bloomberg Intelligence em Nova York na quarta-feira. De acordo com McGlone, o Bitcoin terá uma nova queda brusca em 2019, apesar do índice de força relativa da moeda e seu “desconto extremo” para a maioria das médias móveis. “Os fundamentos das redes Bitcoin e Ethereum não caíram tanto quanto os preços”, escreveu o autor do popular livro Cryptoassets: O Guia Inovador do Investidor para Bitcoin e Além, Chris Burniske, em dezembro. Mati Greenspan, analista sênior de mercado da eToro, uma plataforma de negociação e investimento social, acha que a compra de ativos que foram vendidos (normalmente para evitar perdas quando os preços sobem) é a única razão para o mercado verde. “Os mercados são feitos de pessoas e é provável que a maioria das pessoas estejam procurando reduzir sua exposição antes dos feriados. Nas últimas semanas, houve muitas posições vendidas altas e alavancadas, e quando essas posições vendidas estão fechadas, isso cria pressão de alta sobre os preços de mercado”. De acordo com Greenspan, a evidência dessa afirmação pode ser encontrada à vista de todos, já que o Bitcoin Cash subiu mais de 40% nas últimas 24 horas e representa uma prova disso para os movimentos do mercado. “Veja como o Bitcoin Cash, que provavelmente tem sido o mais polêmico das moedas e que muitos culparam pelo recente slide, é quase o dobro do que o restante do mercado fez hoje”, acrescenta Greenspan. Enquanto isso, na noite de quarta-feira, um entusiasta popular, conhecido no Twitter como Barba Negra, pediu a seus 33 mil seguidores que compartilhassem suas previsões de preço do bitcoin para o final deste ano. Das quase 200 respostas, a maioria estimou que o Bitcoin fechará 2018 em uma faixa de preço de cerca de US $ 3.000 a US $ 4.000. Outras criptomoedas também estão no verde: o XRP ganhou cerca de 5%, o ETH está próximo de 7% e os outras seguem altas semelhantes, o Bitcoin Cash é o vencedor com um aumento de 40%. Nas 50 melhores moedas por capitalização de mercado, o único “perdedor” é a Maker (MKR) com -1%. A capitalização de mercado do Bitcoin também atingiu uma alta de duas semanas de US $ 70 bilhões, enquanto o preço em si não foi visto acima de US $ 4.000 desde 4 de dezembro. O artigo O Bitcoin voltou a ser negociado acima de US $ 4.000. Mas por quanto tempo? apareceu primeiro em Livecoins.

24 days ago

As Maker continues to grow internationally, we're excited #D...

As Maker continues to grow internationally, we're excited #DAI is now live on the Chinese-exchange, OEX! https://t.co/6zRMIBCpTQ

24 days ago

Coinbase Pro continues growing, adds DAI, GNT, MKR, and ZIL

Yesterday, Coinbase Pro has announced the addition of four new Ethereum-based assets to its platform. Accordingly, Dai (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL) have joined the mix. Listing details Coinbase made the announcement yesterday, via their blog. Each of the added token projects also include other functions, aside from trading. The crypto exchange noted these smart contract functions are not yet available on Coinbase Pro. As a result, users who want to engage in MKR governance, use their GNT tokens to submit rendering tasks to the Golem beta network, utilize functionality like Compound, or exit DAI positions in the event of global settlement will need to move their assets from Coinbase Pro to a local wallet. Coinbase also interestingly noted that only DAI and GNT will be tradable on the U.S. Coinbase Pro exchange, and that “International Coinbase affiliates” will include MKR and ZIL trading for specified non-US customers. As for popular crypto assets other than ERC20 token options, Coinbase is looking into the legal compliance associated with such additions. “[W]e are exploring the addition of many new assets beyond ERC20 tokens on a jurisdiction-by-jurisdiction basis.” Incoming transactions for DAI, GNT, MKR, and ZIL opened after 11:45am PT on December 18. Coinbase mentioned they needed at least twelve hours to build up sufficient asset liquidity after deposits opened. DAI, GNT, MKR, and ZIL order books will soon enter transfer-only mode. We will accept inbound transfers in the regions where trading is supported. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE — Coinbase Pro (@CoinbasePro) December 18, 2018 Trading will commence once sufficient liquidity has been determined. As of the time of this reporting, it appears as though only GNT is tradable on Coinbase Pro. DAI, MKR, and ZIL still seem to be waiting for sufficient volume to come through. These assets are also only available on Coinbase Pro and not Coinbase.com. Coinbase explained four sequential stages for the mentioned token listings: transfer-only, post-only, limit-only, and full trading. These stages exist to properly build the exchange’s order books for effective trading. DAI will be the second stablecoin made available on Coinbase Pro, as the exchange announced USD Coin (USDC) listing in October. Legal compliance 2018 has seen significant regulatory pressure from the U.S. Security and Exchange Commission (SEC). Numerous Initial Coin Offerings (ICOs) have been labeled as unregistered securities. Coinbase is one crypto party that seems to keep pace with regulatory expectations. Two months ago, Crypto Insider reported on Coinbase receiving a crypto custody service approval from the hard-line regulatory state of New York. It is interesting to note that the company received custody approval for Ripple’s XRP, but has not listed the asset yet. Coinbase’s regulatory compliance could explain why ZIL and MKR will not be tradable for U.S. customers right away. Many crypto asset projects may still be in the cross-hairs of the SEC regarding their status as securities. More to come Coinbase released a list earlier this month, stating thirty-one additional assets for potential future listing. DAI, MKR, ZIL, and GNT were on that list. This fall’s frequent Coinbase listings are quite different from last year when Coinbase additions were one of the rarest occurrences in the crypto space. Readers likely remember when Coinbase added Bitcoin Cash last December, causing the asset to rise above $4,000 on some exchanges. Although we find ourselves in the middle of a bear market, Coinbase listings still appear to provide some sort of price action, whether speculative or not. However, that price action could simply be associated with bitcoin’s recent bullish movement, currently sitting just under $3,800 on Blockmodo at the time of this writing. #Zilliqa nice pump just happened. — Cryptotrendsio (@Cryptotrendsio1) December 18, 2018 Image Courtesy: Coinmarketcap.com *CryptoInsider is sponsored by Blockmodo. As part of our arrangement, we may occasionally link to them and quote them when appropriate. This is done at the discretion of CI staff and CI sponsors have no say in any editorial decisions made by CI. The post Coinbase Pro continues growing, adds DAI, GNT, MKR, and ZIL appeared first on Crypto Insider.

24 days ago

CoinGate Becomes the Official Payment Gateway for SIRIN LABS’ Finney Blockchain Smartphone

SIRIN LABS, the maker of the world’s most secure blockchain-powered smartphone, Finney, has announced its partnership with CoinGate cryptocurrency payments platform to enable the latter function as the sole payments gateway for Finney. With this forward-thinking collaboration, users of the Finney smartphone will be able to seamlessly make payments at both online and concept stores using the SRN token, a vast array of crypto assets or FIAT currencies. In its bid to make it easier for the masses to jump onto the blockchain bandwagon, Sirin Labs has made it clear that everyone can now purchase FINNEY on its website, www.sirinlabs.com, using its SRN altcoin or other digital currencies including bitcoin and ether, during this holiday season. The SIRIN LABS’ flagship store in London is set for launch in January 2019, while its concept store will also be opened in Tokyo before the end of January. Interestingly, SIRIN LABS has hinted that all its stores will use CoinGate’s payments solutions, to foster global crypto adoption while also increasing the use cases of its SRN token by making it accepted crypto by all 4,000 CoinGate merchants. Commenting on the development, the CEO of SIRIN LABS, Zvika Landau noted that: “We are glad to announce CoinGate as our selected partner that will help us answer the increasing demand for FINNEY. CoinGate shares the same core values of bridging the gap between crypto and the mass market, and together we will make 2019 the year when crypto will be accessible for all.” Launched in 2014, CoinGate has been making life easier for merchants all over the world via its user-friendly cryptocurrency payments processing systems. The platform allows merchants to receive funds directly into their Euro bank accounts without risks of crypto volatility. “We are thrilled about entering into such a dynamic and multi-faceted partnership with SIRIN LABS. Not only have we integrated SRN token payments across the board for our merchants; we are also enabling the company to accept cryptocurrencies for the FINNEY phone both online and in retail locations across the world - truly exciting,” declared CEO of CoinGate, Dmitrijus Borisenka. FINNEY comes with an embedded cold storage crypto wallet, and it runs on the SIRIN OS, which is a Google-certified modification of Android. FINNEY also comes with SIRIN LABS’ customized cybersecurity suite, dCENTER (DApp store), token conversion functionality and more. The post CoinGate Becomes the Official Payment Gateway for SIRIN LABS’ Finney Blockchain Smartphone appeared first on ZyCrypto.

24 days ago

Coinbase Launches Coinbase Earn in Invite-only Mode

As part of their mission to create an open financial system, Coinbase today launched Coinbase Earn. This initiative by the exchange allows users to learn about cryptocurrencies while earning them as well. The program was launched in invite-only mode today. The announcement was part of the 12 Days of Coinbase series. Making Blockchain More Accessible Coinbase noted that blockchain technology would need to be made more accessible to create an open financial system. Coinbase Earn will allow users to participate in the industry more. In the announcement Coinbase stated: “Coinbase Earn allows users to earn cryptocurrencies while learning about them in a simple and engaging way. The idea is for users to understand more about an asset’s utility and its underlying technology while getting a bit of the asset to try out.” In order to manage demand, the program will launch in invite-only mode and will focus only on 0x Protocol (ZRX). The exchange will add more content as well as other cryptocurrencies over time. Who Gets to Learn and Earn With Coinbase? Users selected for the program will receive an invite for Coinbase Earn by email. These users will be able to earn ZRX by taking short video lessons and quizzes. The Coinbase Earn educational content is free for all and can be viewed by users who have not been sent an invite yet. Users can also sign up on the waitlist to be notified of more educational tasks when they become available. The initiative comes after a survey of Coinbase customers and non-customers regarding the biggest barriers that prevent people from exploring new assets. The survey also found that people have a strong desire to learn about digital assets other than Bitcoin but didn’t know how to get started. All the tasks on Coinbase Earn, therefore, will revolve around asset education. Moreover, the initiative provides people a third alternative for earning cryptocurrencies apart from mining and buying. The funding for this initial phase of the program comes from the 0x external development pool, and 100% of funds are given to users. The 12 Days of Coinbase Timeline Day 1- WeGift e-Cards: Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more. Day 2- Zcash Donation to Venezuelan families: The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families. Day 3- Cryptocurrency: The future of finance and money (Video): Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization. Day 4- New Watchlist feature: Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist. Day 5- Enables PayPal withdrawals: In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts. Day 6- Bitcoin donation for Syrian refugees: Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto. Day 7- Coinbase educates users on USDC: TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1. Day 8- Enables direct crypto conversions: Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps. Day 9- Coinbase Pro Lists four ERC20 Tokens: Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions. Day 10- Launches Coinbase Earn: Coinbase Earn allows participants to earn crypto while learning about it at the same time. The program has launched initially in invite-only mode. Day 11- To be confirmed... Day 12- To be confirmed... Coinbase Launches Coinbase Earn in Invite-only Mode was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

24 days ago

Analyst: Ethereum Constantinople Will Push Crypto Miners “Out Of Business”

In recent months, as Bitcoin (BTC) purportedly fell through its supposed break-even cost of mining not once, not twice, but three times, the economics of Proof of Work (PoW) have been questioned by wary skeptics. For instance, in an op-ed piece that became an industry hot topic in mere minutes, one MarketWatch contributor claimed that BTC, with its hashrate drought and the whole nine yards, was poised to enter into a death spiral. The piece, lauded as heresy by many crypto enthusiasts, has since begun debunked, and, unsurprisingly, this market’s flagship asset hasn’t crumbled to dust. Yet, many still like to quip about cryptocurrency mining. And recently, a number of industry analysts have aimed their scopes at Ethereum (ETH) and its transaction processing scene. So after BTC was put on public display, it seems that now it is Ethereum’s turn. Ethereum Mining Remains Profitable [For Some] As reported by NewsBTC in mid-November, CNBC, citing data gathered by Susquehanna, a crypto-friendly quantitative trading group, claimed that small-scale mining operations are far from feasible. The Pennsylvania-based firm explained that the average Ether graphics card-powered miner has seen their monthly profits dwindle to zip, down from $150 high seen in May 2017. Susquehanna’s Christopher Rolland explained that even with Nvidia’s flagship processor (GPU), the GTX 1080, the return-on-investment (ROI) provided was dismal. As such, it would be logical to assume that with current profitability trajectories, many miners, even those looking to accumulate ETH, may begin to flunk out of block processing entirely. Yet, in an exposé piece published through DeCrypt Media, Tim Copeland, debunked Susquehanna’s data, claiming that “Ethereum miners are still running strong.” Deutsche journalist Peter Statsenko told Tim that the price of electricity needed for break-even Ether mining is approximately $0.15 per KWH. And, with kilowatt-hour rates remaining well below this figure in a number of countries, namely the powerhouses Venezuela, China, and Canada, there are likely abounding miners continuing to keep their rigs plugged in, letting them hash the night away. It is important to note, however, that in a majority of nations where cheap electricity is scant, mining can be far from financially advantageous. According to OVOEnergy, Japan’s average electricity rate has surpassed $0.26 per KWH — far beyond the supposed level that would facilitate miners. And interestingly, the Ethereum Network’s hashrate statistics have reflected the flunking of some retail miners, with the figure falling by 33% since BTC began its most recent leg lower on November 14th. Related Reading: Cryptocurrency Mining Hardware Maker Turns £1,000 into Over £1 Million in First Year Yet, Constantinople May Throw Crypto Miners For A Loop Prospects may already seem overly dismal for the backbone of Ethereum — miners — but commentators and analysts have accentuated that the onslaught is far from over. In a recent sequence of tweets breaking down this topic from the top-down, Alex Kruger, a crypto-friendly markets analyst, explained that the miners left standing aren’t in the clear. Per Kruger’s analysis, if miners currently paying $0.06 per KWH have an ETH mining “operational break-even [of] $67,” currently $35 (-35%) below Ether’s current value. 1/ $ETH mining operational breakeven, paying $0.06 $/kWh for electricity, currently stands around $67 (estimates depend on operational costs other than electricity). For those buying 2nd hand RX580 GPUs and depreciating them in 1 year, breakeven after depreciation stands at $165 — Alex Krüger (@Crypto_Macro) December 18, 2018 Many have ostensibly continued to hash above this stipulated level, yet Ethereum’s break-even is slated for a steep hike in just three week’s time, which may spell disaster for this pertinent subset of crypto. For those who missed the memo, Ethereum, much like Bitcoin, Stellar, and other notable projects, has long been on a path towards scalability and protocol improvement. The next step in Ethereum’s development is Constantinople, the blockchain’s most decisive upgrade in over a year. The hard fork, which moves the so-called “world computer” one step closer to its Serenity phase (Ethereum 2.0) is set to drop on January 16th. Although the Constantinople hard fork primarily consists of updates that improve Ethereum’s functionality and ability to move to a Proof of Stake (PoS) model, when the upgrade goes live, block rewards will fall from three ETH a block to two. As depicted by the chart below from Eric Conner, a zealous Ethereum proponent, the upgrade will cut the Ether inflation rate from ~6.8% to ~4.25%, dubbed a “huge step towards near 0% network issuances [with] PoS” by Conner. Ethereum’s “Thirdening”, where block rewards will be cut from 3 to 2, is 181,580 blocks away. By my estimates it will activate on January 14th (PST). This will be a huge step in the move towards near 0% network issuance in

24 days ago


News courtesy of berminal.com
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