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Cryptocurrency Online Casino 1xBit Launches Its First Branded Casino Table

One of the biggest cryptocurrency casinos on the market 1xBit has announced the launch of its first dedicated branded table, which was developed in partnership with the world-leading video-streamed Live Dealer gaming - Evolution. This Live Blackjack table is available to the customers 24/7, engaging with online players just as if they were in a real casino. The launch of the branded table by a well-known casino operator proves that 1xBit is a serious and reliable casino platform. Since 2016, the company has always tried to stand out of other bitcoin gambling websites. It was a pioneer in accepting not only Bitcoin but also the most popular altcoins and the number of supported coins still keeps raising. This casino has remained to be cryptocurrency-oriented, while most of the competitors became so-called hybrid casinos, accepting cryptos as well as traditional payment methods like Visa, PayPal, that lead to strict regulations imposed on the clients. Because of a sharp increase in demand from operators for branded tables, Evolution’s dedicated environment gives the opportunity to customize the Live Casino table and create unique offerings, tailored to specific markets. Thus, 1xBit has announced a new regular promotion “Blackjack on Thursdays”. “Blackjack on Thursdays” is a weekly promotion with simple and easy-to-follow rules. To take part in the tournament a user has to register at 1xbit.com and plays exclusive Bit BlackJack. For every 5 mBTC wagered the participant will get one point. Three participants who accumulate 150 points first will win the following prizes: 1st place - 150 mBTC, 2nd place - 100 mBTC and 3rd place - 50 mBTC. Among other things, 1xBit suggests a wide range of slots from over a hundred providers for every taste to fit. Don’t miss a chance to play live casinos and take part in live dealers or special casinos promotions and get incredible bonuses. If you are a newcomer at 1xBit casino, have a look at 100% first deposit bonus. It is the easiest way to double your crypto with no risk. Just play your favorite casino games at 1xBit and receive a 100% bonus up to 1 BTC. And what is more delightful, you don’t need to choose between playing casino games and betting on sports anymore. The total of all stakes will count towards the wagering requirements of this bonus. Enjoy pre-match or live betting on more than 50 sports and play casino games at one place. The post Cryptocurrency Online Casino 1xBit Launches Its First Branded Casino Table appeared first on ZyCrypto.

21 minutes ago

Why the Samsung Galaxy S10 crypto wallet is a failed opportunity

About two months ago, crypto-related rumors emerged about the upcoming Samsung Galaxy S10: more precisely, some leaked footage hinted to the inclusion of a cryptocurrency hardware wallet. The source of these bits of information, SamMobile, has referred to a “cold wallet” - which is a generic term to describe a crypto wallet that isn’t connected to the internet (and therefore stores the private keys more securely). The launch presentation, which took place on livestream on February 21st 2019, was however a failed attempt to make the cryptocurrency enthusiasts get excited about the new flagship phone. Throughout the 142 minutes of highlighting the screen, camera, and high-end hardware specifications, no clear mention was made about integrating a hardware wallet for crypto. None of the presenters have hinted about storing BTC or ETH on their devices, and no presentation of the new functionality’s interface has been made. Conversely, the only real confirmation of a hardware wallet that we have right now can be found in the official Samsung Release Room article. But even there, the terms are vague and mention “blockchain-enabled mobile services” instead of referring to popular cryptocurrency names. Nothing to call home about for crypto enthusiasts, failed opportunity for Samsung to become revolutionary Samsung had the chance to become the first big phone manufacturer to announce native features for bitcoin, ether, and other major cryptocurrencies that they’re willing to integrate. Their announcement could become part of history books for spearheading mainstream adoption. Instead, the South-Korean company has chosen to play it safe, focus on the regular affairs that Apple, Google, and the others already highlight on every launch event for over a decade, and neglect that one feature that exists and could have made the S10 “stand apart” (the slogan for the phone is “designed not to stand out, but designed to stand apart”). Given this oblivious approach to an exciting feature, cryptocurrency enthusiasts are also uncertain about the nature of this hardware wallet. Since the wording is so vague, it’s unclear whether or not Samsung Knox provides the interface and functionality, or only the security for other third-party applications. Did the company develop its own wallet, or do they only have a framework for others to use in order to achieve greater security? These questions will definitely be answered when the phone gets shipped next month and users get to try all the new features. However, the failure to promote the hardware wallet’s functionality in a clear way means that cryptocurrency enthusiasts are far less likely to preorder the S10 - which in itself is a failure for Samsung. They played it safe, but didn’t capitalize on one small but significant niche. It’s also likely that people will discover the new features on the go, after they order the phone, use it for a while, and then write about their experiences. This type of marketing which is based on customer satisfaction may also work, but for a company whose competition on the market is very stiff, launch events are crucial for reputation and sales. An enthusiastic YouTuber may reach millions of people, but the presentation doesn’t get featured in mainstream media to reach people of all ages. Questions about the security of your crypto with the Galaxy S10 Some may speculate that the Samsung Galaxy S10 hardware wallet spells doom for dedicated manufacturers like Ledger and Trezor. Instead of spending about $120 on a new Ledger Nano X, or even remaining conservative and ordering the more affordable and basic Nano S, you can save some more money and buy a mobile phone which also offers a great camera and impressive applications. However, we shouldn’t expect a device with a built-in security chip which is permanently connected to the internet to be as safe as a dedicated hardware wallet (or even a paper wallet). You only connect a Ledger or a Trezor to your computer when you need to make a transaction, but the Galaxy S10 will always be online while you use various functions and applications. The Android operating system, as well as the extended connectivity of the device, feature numerous security holes that can be exploited to access your data. And even if the chip is encrypted, there are still ways to work around the security and gain access to the data. We’ve seen how the wallet.fail team has broken into Ledgers and Trezors when they gained physical access and meddled with the hardware. A device that you carry with you all the time, has USB and micro SD physical connections for malicious software to be installed, can get infected by malware from other apps, and uses a popular operating system whose loopholes and limitations are known and exploitable, is by default less secure than anything provided by dedicated manufacturers. Nevertheless, Samsung Galaxy S10’s cryptocurrency security will be greater than anything you get from current mobile “hot” wallets. Th

2 hours ago

In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC’s Connexus Cloud

In this edition of The Daily we cover a number of cryptocurrency-related business collaborations from around the world. These include Sirin Labs and Simplex, Middle East-focused crypto exchange Cbx, and Heliocor, IPC and ICE Data Services. Additionally covered is an update from the FBI which is conducting an investigation into Bitconnect. Also Read: Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange Sirin Labs Smartphone to Integrate Simplex Sirin Labs, creators of the cryptocurrency-focused Finney smartphone, have announced a partnership with online payment processing solutions provider Simplex. With the integration of Simplex’s escrow service for fiat-to-crypto transactions, the phone’s users will be able to buy crypto with fiat directly through its wallet application. Founded in 2014, Simplex is headquartered in Israel, with subsidiaries in the U.K., U.S., and Lithuania. The service processes credit card payments for some of the largest crypto exchanges, wallets, and platforms around the world. “The growing portfolio of our partners and integrations is aimed to assure our community that their crypto experience through FINNEY is constantly evolving,” said Sirin Labs CEO Zvika Landau. “Simplex shares the same vision of bridging the gap between crypto and the mass market. This integration marks that first step in making crypto more accessible to novice users, as well as simplifies trading for our seasoned crypto community.” Middle East’s Cbx Exchange Partners With Heliocor Heliocor, a regulation technology company from London, has announced a strategic partnership with Cbx, a global cryptocurrency trading platform based in the Middle East with independent operating teams in UAE, Hong Kong, Taiwan, Malaysia, and London. The deal is meant to enable enhanced due diligence of both institutional investors and retail investors in the Middle East. Heliocor offers a GDPR compliant cross regulation onboarding application that is now integrated into the Cbx trading platform, allowing the exchange to apply Know your Client (KYC) and Anti Money Laundering (AML) checks on its clients. Vikas Tripathi, Managing Director of Heliocor, commented: “Several companies from blockchain and cryptocurrency have engaged with us to help them overcome their ever-changing regulation challenges. We believe that cryptocurrency markets will form a key market for our technology, allowing us to apply our deep regulation and compliance knowledge in banking and financial institutions to further engage with the blockchain industry. We are delighted to be working with CBX to provide them with an enhanced due diligence capability and adding confidence to their users as they access the crypto market.” IPC’s Connexus Cloud to Add ICE Crypto Data Feed IPC, a provider of networking solutions for the financial markets, has announced it will include cryptocurrency data feed on its cloud platform from ICE Data Services, which is part of Intercontinental Exchange (NYSE: ICE). The Connexus Cloud connects 6,400 capital market participants across 750 cities in 60 countries including sell-side and buy-side firms such as inter-dealer brokers, liquidity venues, and clearing/settlement firms. Customers using the ICE Cryptocurrency Data Feed will be able to access real-time and historical data for over 60 digital assets, including BCH and BTC, from more than 30 trading venues. “The cryptocurrency market continues to make inroads with global investors, who rely on timely and robust pricing data to help with their critical investment decisions,” said Mike Smith, Director Global Exchange Relations Management at IPC. “With the vast ICE Cryptocurrency Data Feed now accessible by Connexus Cloud users, we continue to bring customers the vital information needed in this emerging and growing market.” FBI Is Looking for Bitconnect Victims The U.S. Federal Bureau of Investigation (FBI) is seeking potential victims who invested in Bitconnect (BCC). The agency asks anyone who invested in it to voluntarily complete a questionnaire on their website which will be used in the federal assessment of this matter. Based on the answers provided, the FBI may contact respondents for additional information. The FBI announcement recounts that Bitconnect guaranteed investors up to a 10 percent total return per month, following a tiered investment system based on the sum of an investor’s initial deposit. In December 2017, BCC boasted a market cap of over $2.5 billion but the price crashed in January 2018 after U.S. securities regulators warned investors of the Ponzi-type nature of the scheme. “This led to Bitconnect completely shutting down its exchange for BCC, eliminating the market for the cryptocurrency and stranding investors with near-worthless cryptocurrency,” explains the FBI. What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on ou

3 hours ago

Bitcoin Donation Programs in Canadian Universities

At this age whereby digital technologies pervade in all facets of our performance, it’s either you adapt fast or be left behind. Bitcoin, which is also referred to as cryptocurrency is a current digital currency that has been causing a stir in the digital market in recent years. It was only a matter of time before other establishments and institutions wanted a piece of the pie. Previously, colleges and universities contended with receiving unorthodox donations such as family business shares and art in form of paintings, since these gifts may generate complex tax filings and accounting issues among others. The use of Bitcoin also raised the same concerns just like those other types of gifts. Bitcoin is unrestricted, explosive with some instances of theft by hackers. Nonetheless, over the years several alumni have pioneered in bitcoins and making college donations in form of cryptocurrencies. Simon Fraser University (SFU)’s alumnus Simon Fraser and Scott Nelson, and MikeYeung - President of Bitcoin Club, made a Bitcoin donation of $6,000 to the Power of Engagement program. This act further prompted the establishment to accept the use of Bitcoin in form of donations, and also throughout their institution in making purchases and service payments. Following these pro-crypto developments, the institution has recently announced that it is accepting cryptocurrencies to fund a trip for two SFU students who will be attending a women empowerment initiative in India. This makes SFU the pioneering university in Canada to embrace and enhance the utilization of donations in Bitcoin. Also, they are presently considering the possibility of enabling purchases with digital currencies in bookstores and cafeterias on its campuses and even perhaps buy essay online. About Simon Fraser University (SFU) SFU is popular in Canada for its community outreach, education and research. Since its establishment in 1965, this institution has expanded to 3 campuses located all over British Columbia- Burnaby, Vancouver, and Surrey. They offer undergraduate and graduate level programs in various initiatives. It is possible that SPU may in the future permit its students to pay their tuition fees using Bitcoin. In a recent press release, Yeung remarked that the reason why they are adopting Bitcoin is that it is not only entrepreneurial, innovative and an open source, but also meets SFU’s mission to engross the world. Bitcoin at Establishments As of now, SFU seems to be the devoted supporters of Bitcoin. The institution’s Bitcoin club, which is managed by Yeung and other students, is mainly geared towards enhancing the endorsement of Bitcoin as a mode of payment when buying an essay online and also other several possibilities cryptocurrencies generate. Yeung trusts that Bitcoin particularly can be fashioned in a manner that can be beneficial to both people and businesses in various aspects worldwide. The success of SFU’S current finding project will possibly make a huge impact on their future use of Bitcoin. Possible Benefits and Effects of Bitcoin Donations in Institutions Bitcoin donations are a great way for organizations to rally the participation of more donors. Donors find it simpler to send money via Bitcoin. However, the organization must have an established online wallet; for example, a buy essay service must have an online wallet for them to transact using Bitcoin. As for the organizations, they are entitled to receive funds from all over the globe from a modern donor. Sounds amazing, but like everything else, you need to read about bitcoins and know how to go about it before you can use it. The first institution that ever accepted cryptocurrencies underwent extensive research on how the system works including how to accept Bitcoin donations, tax compliance, security, how to gift Bitcoin and the potential risks of using Bitcoin. Once you are aware of the process and the possible risks, this type of funding can generate great benefits to organizations, institutions, and students as well. Here are some of the benefits of using Bitcoin. Extensive Reach You are not bound by geography or amount. One can receive or send donations of up to millions in any part of the world. It also opens up new streams for charities and institutions to receive funding from. Luring millennials Currently, a huge number of active Bitcoin users consist of millennials. Hence the capacity to receive Bitcoin bears a cache which may lure the attention of modern and innovative donors. With the ongoing responses to Bitcoin use and donation payments to institutions, it will come as no surprise that students in future may very well be able to use bitcoins to pay their tuition fees, make purchases and bookstores and even buy essays online. Several universities worldwide are already on the verge of accepting the use of bitcoins, for instance, King’s College and the University of Cumbria in Lancashire, England, who receive tuition fees in form of Bitcoin. The post Bitcoin Do

3 hours ago

Yellow Card’s Crypto Vouchers Show How Blockchain Can Help the Global Unbanked - hypepotamus.com

Migrants often send the money they make back home to sustain their families, pay for education, or help support their parents. According to a PEW Global report, $138 billion was sent by migrants in the United States to other countries in one year. Unfortunately, part of those hard-earned dollars are often eaten up by high transaction

4 hours ago

Don’t fall for JPMorgan’s crypto hype

For marketing purposes, cryptocurrency packs a wallop for the world’s mega banks. Their PR departments carefully place announcements about crypto projects and blockchain trials with preferred, high-profile news outlets that run glowing stories about them. There are reasons to be skeptical about these stories. Swiss stalwart UBS, along with 10 or so other financial institutions, has been working on a cryptocurrency for banks since at least 2015 (paywall). That project, which was supposed to have a limited launch in late 2018 (paywall), still isn’t live and has been mostly silent for nearly four years. Goldman Sachs’ bitcoin trading desk has reportedly been shelved. The US Federal Reserve has considered the viability of a Fed Coin and concluded that it wouldn’t make much sense. The combination of crypto and big financial institutions has been heavy on hype and low on results so far. For that matter, what JPMorgan is proposing with “JPM Coin” isn’t that unorthodox. Although it’s less common now, commercial banks have a long history of printing their own notes. When we make payments with a credit card or app, we are exchanging digitized commercial-bank money. Nobody gets too excited about this, because it doesn’t use a blockchain. Here’s what JPMorgan is up to: the lender says it is the first US bank to test a digital coin over a blockchain network that represents fiat currency. The idea is to use it to transfer money between institutional customer accounts. It won’t be available to consumers to buy or trade. Each token would represent a US dollar held by JPMorgan, the biggest US bank by assets. The Wall Street bank says it could use JPM Coin for international payments between its large customers. Even when sending money between two of JPMorgan’s own legal entities—from JPMorgan New York to JPMorgan London, for example—there needs to be an audit trail, according to Peter Randall, president and founder of blockchain financial services company SETL. Right now that takes place via Swift, an interbank messaging cooperative. If regulators sign off on it, JPMorgan might be able to replace Swift with a cryptographically secured ledger system that could be faster and save it money. “Right now that has to go through unbelievable levels of reconciliations,” Randall says. “Each of those banks is a legal entity with its own balance sheet, own regulations, and directors.” For its part, Swift has been upping its game and says that blockchain isn’t able to process payments more quickly than other technologies. Among the remaining roadblocks to faster payments tend to be regulations that blockchain can’t erase, or things like one of the banks being physically closed when the transfer is sent (this could obviously be automated without a blockchain). Perhaps, however, newfangled distributed computer networks could help bank executives sleep better at night. Last year, JPMorgan CEO Jamie Dimon said cyber risks are the financial system’s greatest vulnerability. By definition, the blockchain ledger is distributed among multiple parties, meaning it should be resilient against attack. JPMorgan customers may be willing to use JPM Coin—they’re already relying on the bank to hold their money, after all. But it’s not clear that any other bank would want to accept it. It’s also far from settled whether the system could process transactions quickly enough to replace existing infrastructure. “Unless Citi or Deutsche Bank or HSBC is prepared to accept JPM Coin, you can’t use it outside the closed loop,” says Randall, whose company promotes its own blockchain system that uses central bank money and connects to the European Central Bank‘s cross-border payment platform. Citigroup CEO Michael Corbat, meanwhile, said that blockchain won’t be a game changer anytime soon (paywall) because financial companies are moving at different speeds to adopt such technology (it’s like being the only one of your friends to own a telephone). Even so, he has high expectations for it in the medium- to long-term for things like trade finance, which has become a rote answer for executives seeking to explain crypto’s promise for mainstream uses. As for JPMorgan, the bank hasn’t quite explained why it needed to create a digital coin. Is the lender under pressure because businesses and consumers have found cheaper, easier ways to handle cross-border payments? Or, perhaps, has it discovered that a crypto pilot program is cheaper than paying for advertising elsewhere? It’s too soon to say whether JPM Coin will mark any sort of turning point in global finance. If past crypto announcements from big banks have taught us anything, it’s to beware of the hype. —John Detrixhe Chart interlude Tallinn calling Crypto trading volumes have fallen in most markets in the past few months, but a few managed to buck the trend. One is Estonia, where CryptoCompare says Bibox and P2PB2B have seen increased buying and selling. P2PB2B has offices in Tallinn, but says its headquartered in S

5 hours ago

Crypto Investor Who Shorted Ethereum at $700: Bottom is Far From Over, Here’s Why

It has been difficult not to get hopes up when crypto markets surge by over 20% in a couple of weeks. What should be remembered though is that the asset class is still in the midst of a bear market that has lasted for over a year. One hedge fund partner, who has been known for shorting, still thinks there is further to go before markets hit the bottom. Ethereum Momentum Slow, Devs Jumping Ship Alex Sunnarborg, founding partner of Tetras Capital, a New York City based cryptocurrency hedge fund, spoke to Forbes recently about the firm’s investment strategies and where he sees markets going next. The company is estimated to have $30 million in assets under management. It shorted Ethereum in May when it was trading at around $700, which Sunnarborg admits was the firm’s biggest win for 2018. Total market cap - 6 months When asked where the bottom is for Ether he replied that fundamentals do not have that much impact because the assets trade so much relative to each other. Basically, Ethereum will follow what Bitcoin does, a pattern which we have all seen play out over the past couple of years. He added that the ConsenSys downsizing news was bad for ETH as it is an integral piece of the Ethereum ecosystem. “There’s this massive disconnect between how much money is still tied up in these projects and how much people actually use them,” he added. Ethereum dApps have had minimal uptake and rival platforms EOS and Tron are now getting the lion’s share of users. This will cause developers to jump ship to other platforms which would cause a ‘drop in momentum and steam’. Not Confident on Bitcoin Yet When asked the crucial question on whether Bitcoin has bottomed yet Sunnarborg replied; “I don’t think so, and I think calling that is very difficult. That’s part of the reason I’m really thankful that we’re in the position we are right now. We can hedge ourselves, remain more neutral and not have to call that exact price or timing bottom. I’m not confident right now.” The interviewer asked about what the firm was bullish and supportive of. Aside from being a Bitcoin proponent, he added that Mimblewimble and Grin are interesting along with Zcash and Monero. Obviously, not a fan of EOS and alluding to its centralization he added; “The one-year long, $4 billion-dollar ICO seems a little excessive to me. The whole governance system, with 21 block producers that can essentially make, vote, or deny everything, is a weird concept to me.” Back to the bottoms, he said that bad news is needed to cause the landslide and this is likely to come from the US SEC. Once all the bad actors and dodgy ICOs get washed out, the volume and price manipulation is quashed, and a few big name products get launched then the only way is up. Noted crypto analysts are also of the opinion that this rally won’t last. This is a suckers rally which will lead to more downside $btc — fil₿fil₿ (@filbfilb) February 20, 2019 The $25 billion rally has been enjoyed by many, however, to put things into perspective, markets are still half of what they were worth on August 1 when market cap was $270 billion and falling. Image from Shutterstock The post Crypto Investor Who Shorted Ethereum at $700: Bottom is Far From Over, Here’s Why appeared first on NewsBTC.

5 hours ago

EOS Price Resumes Uptrend yet $4 may Remain out of Reach for now

Many people expected yesterday’s bullish momentum to peter out fairly quickly. While that could have been the case pretty easily, it appears things turned out a bit different in the end. As far as the EOS price is concerned, things are not looking all that bad. While yesterday’s surge was temporarily halted a bit, the value is still sitting pretty at $3.8. EOS Price Motor Stalls and Powers Through It quickly became apparent yesterday there would be some bearish momentum for all cryptocurrencies eventually. Although no real damage has been done in the process, it would appear some uneasy momentum still lingers today. While there is nothing to be overly concerned about just yet, it seems the uptrend will be resumed in a slightly more controlled manner. As far as the EOS price is concerned, it would appear the uptrend is still in play. Following a 4.3% increase, the USD value has risen to $3.8. There is also a 3.7% increase in EOS/BTC, pushing the Satoshi value to 95,571. Both trends are in line with what materialized yesterday afternoon, although it appeared the uptrend was a bit more firm at that time. Even so, the current price levels are respectable enough. What is rather remarkable is how some people have found new reasons to fall in love with EOS once again. Bonz showed how the Chestahedron is not just the EOS symbol but also represents the heart. Rich Downing sees this as a key value of the EOS project as a whole. It is something few people ever give a second thought to, albeit it is certainly something to keep in mind at all times. Love this. It's true, and it's an important signal for a brand with such cultural/social depth as EOS. #EOS #EOSIO #BTC — Rich Downing (@Rich_Downing) February 21, 2019 When it comes to the actual technical analysis of EOS, the future remains a bit uncertain at this time. Aykut Gundogdu considers the current price trend to be a Renaissance painting of some sorts. Whether or not that means the uptrend can and will be resumed, is a different matter altogether. There is still a lot of uneasy momentum affecting all crypto markets right now. $eos #eosRönesans tablosu gibisin. pic.twitter.com/JAla3UVqPh — Aykut GÜNDOĞDU (@aykutgundogdu_) February 21, 2019 For those who want to utilize EOS as a way to generate profit, using triangular arbitrage trading can yield surprising results at times. EOS is part of a BSV - BTC play spanning KuCoin, Binance, and Bitfinex. In the end, traders can expect to pocket a profit of up to 8.8%, which is rather appealing. Hurry! 8.80% triangular arbitrage considering volume in #BCHSV via #Kucoin. If you buy #BCHSV in #BTC market from #Binance and convert it to #EOS in #Kucoin and sell it on #Bitfinex. — KoinKnight (@KoinKnight) February 21, 2019 All of these signs seem to indicate EOS is still in a good place. While the uptrend may not be as strong a sit was yesterday evening, the overall trend has remained intact without too many problems. Combined with a more than healthy trading volume, there is a genuine chance the EOS trend will continue for some time to come. How high the value will rise in the process, remains somewhat unclear. 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 EOS Price Resumes Uptrend yet $4 may Remain out of Reach for now appeared first on NullTX.

5 hours ago

Irish Auctioneer Set to Sell 315 BTC that Belgian Authorities Seized

Wilsons Auctions, an Irish auctioneer is set to sell 315 BTC that the Belgian government seized in a drug trafficking case involving the darknet. The auction will begin at noon on February 28 and last for 24 hours. According to Wilsons, they will sell the loot in lots within a range of 0.5 BTC to 4 BTC each. The 315 coins comprise 104.99 each of BTC, BCH, and BTG. As part of the deal between Wilsons and the Belgian government, the company would facilitate the storage and sale of the seized crypto assets. (VK)

6 hours ago

EOS and Litecoin [LTC] lead the charge as the cryptocurrency market continues to rise

The collective cryptocurrency market managed to hold on to the bulls as the recent upswing in prices decided to not subside. After adding nearly $10 billion to the global market cap in just under 24 hours, the market added another $3 billion the following day, spearheaded by the surging EOS [EOS] and Litecoin [LTC]. While the first massive uptrend was sparked by Binance Coin [BNB] and Stellar Lumens [XLM], EOS and Litecoin took charge the following day as the market reached $135 billion for the first time since January 10. The fourth and fifth coins respectively have been at loggerheads, constantly overtaking each other in pursuit for the coveted fourth spot which was occupied by Bitcoin Cash [BCH] for a long period of time. EOS has amassed a 7.6 percent increase against the US dollar, the largest rise amongst the top-10. The coin was trading just under $3 for the better part of the past two weeks, prior to surging ahead at the beginning of the week. The coin began to rise on February 18, and at 11.00 UTC on the same day, the coin broke the $3-mark for the first time since mid-December. EOS later shot up to its trading price of $3.85, at press time. The fourth-largest cryptocurrency in the market, at this point, is trading at its highest price for more than three months, a significant achievement considering the ongoing ‘crypto-winter’ that has hit the market. In terms of the coin’s market cap, EOS broke the $3-billion mark at the beginning of the week. Since breaking the milestone, the coin has gone on to add $500 million and the current market cap of the coin stands at $3.51 billion, with a $400 million market cap lead over the trailing, but surging, Litecoin [LTC]. Exchange dominance of EOS trade volume is most noticeable on OKEx, which accounts for $215 million or 10.35 percent of the entire EOS trading volume via the trading pair EOS/USDT. The second spot was taken by Huobi Global and DigitFinex, which accounts for $107.38 million, or 5.16 percent and $104.93 million, or 5.04 percent of the trading volume respectively, on the same trading pairs i.e EOS/USDT. Source: Trading View Litecoin trails EOS both in the coin-ladder and in terms of the 24-hour price increase, despite a 6.8 percent incline. The coin was hovering below the $35-mark since the beginning of the month, following which it saw a massive rise on February 8, overtaking BCH and EOS in the process. In the first consideable rise, the price shot up by 36.08 percent to $45.44, and after briefly dropping to $41.46, the price broke the $50 ceiling on February 20 for the first time since mid-November. At press time, the coin was trading at $51.20, and is looking to sustain the rise. Digital Silver has joined EOS in the “$3 Billion Dollar Club” breaking the said barrier at 1000 UTC on February 20. Litecoin had not crossed the $3 billion-dollar valuation since the BCH hardfork in mid-November. At press time, the coin had a market cap of $3.1 billion, leading the trailing Bitcoin Cash by just under $430 million. Source: Trading View The post EOS and Litecoin [LTC] lead the charge as the cryptocurrency market continues to rise appeared first on AMBCrypto.

7 hours ago

The Founder of Havyn, a UAE-based Digital Exchange Says the Regulation of Cryptocurrencies is Inevitable

According to Christopher Flinos, the co-founder of Havyn, a recently launched crypto exchange, and custody platform, cryptocurrencies will become a regulated part of the world's existing financial system. He said this during an interview with Arabian Business, where he stated the high-profile losses in ICOs would spur the need for regulation. Christopher added that the crypto market would not continue existing outside of the financial system. He explained that Havyn looks and behaves like an investment banking platform by design and that the platform is suitable for institutional investors. (VK)

7 hours ago

Irish Auctioneer to Sell off 315 BTC Seized by Belgian Police

Irish auctioneer Wilsons Auctions is to sell off 315 bitcoins seized by the Belgian government in a drug trafficking case that involved the dark net. The 24-hour online auction will start at noon on Feb. 28. Also read: Bitgo Obtains $100M Insurance Policy to Cover Crypto Assets Wilsons to Auction $390k Worth of Drug-Related Crypto Wilsons said in a statement that the loot, with no reserve, will be sold in lots ranging from 0.5 BTC to 4 BTC each. The 315 coins consist of 104.99 each of bitcoin core, bitcoin cash and bitcoin gold. The lots for BCH and BTG “will contain a larger number of coins” the auctioneer stated. Wilsons, which won a contract from the Belgian government for the auction, said the bitcoin has a fluctuating value of more than £300,000 (~$390,000) in total. As part of the deal, the auctioneer and advisory company will facilitate the storage and sale of seized crypto assets managed by the Federal Government of Belgium. Aidan Larkin, head of recovery at Wilsons, said: Following huge investment into our systems and infrastructure, we are able to offer government and law enforcement agencies worldwide a secure solution to the ever-increasing problem of seized cryptocurrencies. Larkin added: “This contract allows us to further expand our cryptocurrency offering and remove the risks that can be associated with trading with unregulated virtual currency exchanges.” Additionally, Mallusk-based Wilsons will physically sell a small amount of BTC during its unreserved government auction, which will take place in Belfast same day. Police Confiscate Censorship-Resistant Bitcoin In 2017 Belgian police reported to have seized about 1,050 BTC from drug dealers. However, liquidation of the confiscated crypto assets required that the country first implement laws governing these, as is the case with the traditional financial industry. That now appears to have happened, giving effect to the Wilsons BTC auction. In Canada, dark web drug dealer Mathew Phan is pleading to be allowed to keep half of the 288 BTC that police seized from him as proceeds of crime. With prosecutors seeking a court order to forfeit the crypto stash, worth CAD$1.4 million (US$1.1 million), the 30 year-old dealer argues that not all of his bitcoin was used for criminal purposes. The case is the first in which Canadian law enforcement has seized BTC, as well as comprising a well-orchestrated dark web trap. In doing so, the police have dealt a double-barreled attack against technologies that are generally off the radar of state authorities. While the case has its roots in crime, it sets an interesting precedent regarding how law enforcement is prepared to repeal anti-surveillance mechanisms. Founded in 1936, Wilsons Auction claims to be the largest auction company in the U.K. and Ireland. It offers a range of services from collection, storage, valuation, marketing, refurbishment, auction and distribution of any asset from cars and commercial goods to property and cryptocurrency. The company has also previously auctioned off monero (XMR) virtual currency. What do you think about governments seizing privately owned bitcoin and then auctioning it? Let us know in the comments section below. Images courtesy of Shutterstock. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post Irish Auctioneer to Sell off 315 BTC Seized by Belgian Police appeared first on Bitcoin News.

8 hours ago

Technical Deep Dive Part 1: Holochain, Holo Accounts, and Cr...

Technical Deep Dive Part 1: Holochain, Holo Accounts, and Cryptographic Key Management Part 1 of a 2 Part Serie… https://t.co/oA84eF2pxl

10 hours ago

Great to be part of strong networks like @EHFNewZealand - we...

Great to be part of strong networks like @EHFNewZealand - we're so aligned with their mission of making a global im… https://t.co/ti6w3aNB8N

11 hours ago

Wallet app Crypto.com introduces new cost-efficient exchange

Crypto.com, a cryptocurrency wallet and payment application, today announced that its new proprietary Vortex Trading Engine is now live. It will offer users improved buy/sell prices within the wallet app. As part of the new exchange feature, Crypto.com also announced it will be sunsetting its... Source

11 hours ago

Want to Know What Tokens Vitalik Buterin and other Ethereum Devs Hodl? They Shared Their Blockfolios on a Reddit AMA

Two days ago, Hudson Jameson, a Developer and Co-Founder of Oaken Innovations, proposed a Reddit AMA to clarify certain points regarding leadership and accountability in the Ethereum community. This was due to a controversy that arose as a result of Afri’s announcement to abandon the Ethereum project. Until further notice, you can reach me via might-not-reply@5chdn.co, on Telegram using changing handles, and on Parity's Riot/Github. I will no longer respond on Gitter, Skype, Discord, Slack, Wire, Twitter, and Reddit. — Afri (@5chdn) February 17, 2019 I did not quit social media, I quit Ethereum. I did not go dark, I just left the community. I am no longer coordinating hard-forks, building testnets, or contributing otherwise. I did not work on Polkadot, I never did, I worked on Ethereum. I did not hate Ethereum, I loved it. — Afri (@5chdn) February 19, 2019 Afri’s resignation came after he wrote a series of Tweets saying that Polkadot could surpass Ethereum 2.0. He compared both projects while pointing out specific weaknesses of the Ethereum network. Of course, Afri’s opinions annoyed the part of some members of the community, who demanded that he withdraw from the project. Jameson speculates that Afri ended up giving in to the pressures and decided to take one step back. I'm so angry and disappointed in the Ethereum community. You ran out one of our best contributors for the dumbest reasons. More people should have spoken up in support and there needs to be less vitriol. https://t.co/eClG1q1f9N — Hudson Jameson (@hudsonjameson) February 17, 2019 Given the turbulence experienced in the community, the idea of creating a Reddit AMA was seen as positive by the Ethereum team, who took the opportunity to clarify doubts and get closer to the community. One of the most popular comments was that of ezpzfan324. This user remarked that to avoid repeating situations like the one experienced with Afri, it would be advisable for the critical members of Ethereum to make a Conflict of Interests Statement. Vitalik Buterin: 80% ETH Vitalik Buterin welcomed this proposal and responded quickly, revealing to the community the tokens he has invested in and the proportion of his investments: “Here’s a quick one from me: Non-ethereum-ecosystem tokens: BCH, BTC, DOGE, ZEC; total value < 10% the value of my ETH Non-ETH ethereum ecosystem tokens: KNC, MKR, OMG, REP, total value <10% the value of my ETH Significant corporate shareholdings: Clearmatics, Starkware [edit, forgot to put this in before] Revenue in the last 12 months other than ethereum foundation salary: a few advisor tokens (included in above) Non-financial interests: friends in the ecosystems represented by the above projects, as well as some non-token ethereum ecosystem orgs (eg. L4, Plasma Group, EthGlobal, EDCON) and non-token non-ethereum orgs (mainly professional cryptography and economics circles) I’d definitely support more people actively involved in protocol decision-making making such statements!” Justin Drake: 99% ETH Justin Drake, another member of the Ethereum developer team also shared his investments, following in the footsteps of Vitalik Buterin: “Quick summary here: 99% of token value in ETH (was given minor airdrops for free) Paid by the EF in ETH Leverage long ETH using ETH as collateral (MakerDAO) Close to zero fiat Not associated with any blockchain project other than Ethereum Zero speaking fees, zero grants” Martin Swende: +95% ETH Martin Swende, another important member of the Ethereum Dev Tem also shared his crypto holdings and the origin of his investments: “I’ll join in 95-99% of crypto holdings in ETH, rest is ZEC, BTC, SIA + some eth-tokens Salary/income last 12 months: all via EF (in euro) I previously also sometimes did consultancy audits, haven’t done any in a long time Advisor in zero projects, zero speaking fees, zero grants received, etc.” They did not disclosed how much money the have invested, but just by knowing which tokens they own seems as a good reference to measure the potentional of some projects. The post Want to Know What Tokens Vitalik Buterin and other Ethereum Devs Hodl? They Shared Their Blockfolios on a Reddit AMA appeared first on Ethereum World News.

11 hours ago

Ontology Utility Token ONG Scores Second Listing in a Week

Ontology (ONT), which has a market cap of $240 million, received a boost when the BKEX exchange added Ontology's utility token, Ontology Gas (ONG). BKEX listed Ontology Gas in the USDT and ETH markets. The ONT coin is up 9% in celebration. Last week, Binance similarly added the ONG token and is currently the exchange with the highest trading volume for ONG. In fact, the ONG price has about tripled in the month of February alone, with most of the gains coming on the heels of the recent Binance listing. Separately, BKEX also tweeted that “LTC and XRP Will be Added to BKEX Demand Deposit soon.” BKEX Demand Deposit appears to be part of a referral program. (GT)

12 hours ago

XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP

The development and extensive adoption of cryptocurrencies across various institutions is a continuous operation. Ripple’s XRP, which is currently the third largest cryptocurrency in the market is constantly cultivating different partnerships and pushing the virtual asset forward for major trade applications. InstiMatch Global is a networking firm which is trying to digitize the institutional system of allowing borrowers and lenders to establish trade through their own digital network. The company has now established a partnership with the R3 consortium which includes the testing of the Corda Settler platform for high-speed payments. InstiMatch will test the Corda Settler platform and its ability to conduct large transactions in XRP as part of a pilot project. The testing for the platform is supposed to settle high volume transactions of over $1 billion with XRP in a tie-up with around 50 banks. R3, a company based on distributed ledger technology for blockchain solutions has an extended platform product which is Corda. The Corda Settler platform is an open-source decentralized application on the R3 network and it was designed to enable large corporations and companies to move virtual currencies and assist in trade settlements and payments. R3’s official website states that, “Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing Banks, Family offices, Corporations, Utilities etc. to exchange liquidity amongst each other. This DApp offers the modern alternative to voice broking and replaces our present, centralized database version.” InstiMatch has been able to tackle the latest settlement API and it has added the option of high-speed payments, which is crucial for the dedicated and quick execution of intra-day trades, via the Corda Settler dApp. InstiMatch is hoping to have more than 100 counterparties from various sectors of trading and reach a broader region of involvement in the next 12 months. This is not the first time Ripple’s XRP and R3’s Corda are headlining together. Previously, a major partnership had developed between both the companies and SBI Holdings, which acted as a medium of comprehension. The President and Representative Director of SBI Holdings, Yoshitaka Kitao recently pointed out that XRP will become a global currency in the near future. He also mentioned, “You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market... What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.” The post XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP appeared first on AMBCrypto.

13 hours ago

Top Crypto Wallet App Service Blockchain.com Opens New Office in Lithuania, Its Fifth Location - Bitcoin Exchange Guide

The cryptocurrency wallet provider Blockchain.com has opened a new office located in Lithuania. This is the fifth office that the company opened around the world and it is also part of its expansion plans in Europe. The information was released by the firm in a blog post on February 19. Blockchain.Com Opens New Office in

13 hours ago

You Can Win A D’CENT (x5) Crypto Hardware Wallet

After the resounding success of the Trezor giveaway, Ethereum World News has decided to team up with D’CENT, an up-and-coming crypto startup based in South Korea, to provide you, our lovely community, with the next giveaway of crypto swag. And no, we aren’t giving away mundane gear, like hats, t-shirts, water bottles, or keychains (yuck!), but five sleek, matte black, and most importantly, useful hardware wallets courtesy of the D’CENT team. We’re sure that you don’t want to miss out on this opportunity. What’s D’CENT? For those not embroiled in the chambers the crypto startup realm, D’CENT is a hardware wallet provider that is aiming to top what its competitors can provide. Their flagship product, fittingly named the D’CENT Hardware Wallet, is only an extension of the firm’s raison d’etre. So what sets the product apart from something like a Trezor One or Ledger Nano X? Well, that’d have to be the arguably most appealing part of the device — its fingerprint sensor. That’s right, instead of having to fumble with the two little buttons on Ledger’s devices, all you need is your finger. Let’s hope that you haven’t had any of those amputated. Better yet, D’CENT accomplishes the integration of biometric technology, the likely future of cybersecurity, while staying fully secure, making the user experience not only easy but safe too. And for those versed in tech-speak, D’CENT uses a multi-IC architecture with EAL5+ certified secure element. So other than its software architecture and biometrics, what else does D’CENT have to offer? The following segment of the upstart’s website, puts it best. D’CENT’s flagship product supports an array of the most popular digital assets, namely Bitcoin, Rootstock (RSK), Ethereum, ERC-20 tokens, XRP, EOS and RRC-20 tokens. But the company is hard at work developing storage solutions for other cryptocurrencies. Don’t worry. D’CENT is quickly proving itself in the space of hardware wallets, so why don’t you get an in on their journey to the ‘moon’? From the team at Ethereum World News’ point of view, a hardware wallet is essential to have, no matter what the market conditions are like. You don’t want to be like those guys and gals that lost their cryptocurrencies on questionable exchanges and/or equally as sketchy wallet services, Just look at the QuadrigaCX debacle. (*mic drop*). You might be thinking — well what are the deets of this giveaway? Don’t worry, here they are. The giveaway will be running for X weeks. More specifically, it will be held on Feb. XXth, 2019 to Feb XXth, 2019. When the contest ends, keep your eye on your emails, as we will contact you after we randomly select a winner. And of course, here’s the all important link. Check it down below : Win A D’CENT (x5) Crypto Hardware Wallet Good luck! The post You Can Win A D’CENT (x5) Crypto Hardware Wallet appeared first on Ethereum World News.

13 hours ago

Mt. Gox: Infamous Bitcoin exchange had several issues with its code, reveals Mark Karpeles

Mark Karpeles, former CEO of the infamous Bitcoin exchange, Mt. Gox, recently spoke about the exchange platform, its ongoing rehabilitation plan and Gox Rising, during an interview with WhatBitcoinDid. Mt. Gox once held a very prominent place in the Bitcoin marketplace, with the exchange leading the adoption of Bitcoin by enabling Bitcoin to USD trading. However, a security breach resulted in the loss of over 7% of BTCs in circulation in early 2014. This was followed by Mt. Gox declaring bankruptcy and the shutting down of services offered by the exchange. Mark Karpeles seemingly discovered cold wallets that had a significant amount of Bitcoins. These Bitcoins and the coins from Bitcoin’s numerous forks are now going to be paid to the creditors as a part of the exchange’s civil rehabilitation programme. In the interview, Mark Karpeles spoke about how he came across the infamous Bitcoin exchange and its creator, Jed McCaleb, now the CTO of Stellar. He also elucidated on whether he encountered any technical issues prior to the hack and the problems faced during that timeframe. Karpeles started by stating that he was involved with Bitcoin since 2010, a time when Mt. Gox was one of the firsts to accept Bitcoin as a mode of payment. Karpeles went on to say that prior to Mt. Gox, he used to help people and entities in the cryptocurrency space with technical problems, adding that this was how he came across Jed McCaleb. According to Karpeles, McCaleb sought his assistance for some issues related to complex APIs. This was followed by McCaleb offering the platform to Karpeles, wherein Karpeles could pay for the exchange in over a period of six months. Since the payment for the exchange was not required to be paid upfront, Mark Karpeles accepted the offer made by McCaleb. Karpeles also revealed that he experienced several problems associated with the exchange in the first three months of its acquisition, adding that these issues were found in Jed McCaleb’s code for the exchange. He went on to say that there were several basic errors or issues that could have happened after the exchange had registered a certain number of customers. He added that not only did the exchange have rounding errors, but the method used for encrypting passwords was not suitable for a Bitcoin exchange. Karpeles also elucidated on one of the problems he encountered with the exchange. He said, “So if two people placed buy or set order at the same time, they could execute the same orders from the order book okay. So to fix this ideally what you would do is to have an execution queue and maybe move the whole indication outside of the main process, but I couldn’t change Jeds [code] because that much. I just fix this, basically what we call a lock so it would maybe make things a bit slower but it avoid executed multiple out of multiple times” This was followed by Karpeles admitting that it would have been better to shut down Mt. Gox at first in order to rewrite the whole code. The interview has evoked a lot of reactions online. Coinspeed News on YouTube commented, “Fascinating story! So Jed hands over a badly coded exchange to Mark, which includes back doors to the deposit system, causing hundreds of thousand BTC to go missing over a few years, and in the mean time Jed creates Ripple, and the rest is history. Looks like Mark was the fall guy and Jed the master villain. The “coincidence” that 80k BTC flies out the window DURING the handover...” Surfer Jim, another YouTube user had this to say, “I agree with your summary. Mark seems more innocent than Jed. Mark seems to talk more honestly, Jed talks like a liar. Jed also had a thorough understanding of how MtGox was organized, enough to steal BTC and divert suspicion easily. One day he’ll want to move those stolen Bitcoins, and when he does, I hope he is caught.” The post Mt. Gox: Infamous Bitcoin exchange had several issues with its code, reveals Mark Karpeles appeared first on AMBCrypto.

14 hours ago

FBI Seeks to Speak with Bitconnect Victims as Part of Investigation

The US Federal Bureau of Investigation is looking to speak to those investors burned by what has perhaps become the best known scam in cryptocurrency history, Bitconnect. The word Bitconnect is now synonymous with scams targeting the cryptocurrency community. It was not only one of the more brazen efforts but also one of the most successful, creating many victims after its collapse. Could the End of the Bitconnect Story Finally be in Sight? Bitconnect (BCC) was first launched by an initial coin offering (ICO) in December 2016. The project purported to be part open-source cryptocurrency and part high-yield investment scheme. However, its multi-tiered marketing strategy caused many to call it out early as a Ponzi scheme. The company claimed to generate a massive 40 percent return for its largest investors through its lending platform. Additionally, a unique trading bot would multiply those Bitcoin investments made into Bitconnect - or so it was claimed. In the profit-hungry environment of 2017, Bitconnect attracted many investors. BCC tokens even managed to get into the top 20 coins listed on Coinmarketcap, before the whole pyramid came crashing down. In January 2018, Bitconnect announced that it was shutting its lending and exchange platform down via its now-defunct website. This caused the price of the BCC token to plummet. The BCC price dropped hard after the service was terminated. According to The Next Web, the official reason given for the abrupt decision to cease business was “bad press”. However, most of this was caused by a list of legal troubles from several different jurisdictions - themselves a direct response to the legitimacy of the claims made about the profitability of the scheme. Over a year after Bitconnect shut down, the FBI is finally doing a thorough investigation into those behind the scam. According to a post on the government organisation’s official website, those who invested in Bitconnect are encouraged to contact the government investigation organisation with regards their involvement. In addition to generic contact details, the questionnaire requests that victims of the scam answer some questions specific to their investment in Bitconnect. These include: how they heard about it, how much was invested in the scheme, and their account details at Bitconnect. The full scope of the investigation into the scam is unknown for now. However, some are expecting the FBI to go after more than just the top brass at Bitconnect. Shit just got real when it comes to Bitconnect. Now it's full blown Criminal case building, no longer just civil. Youtube promoters and bloggers who shilled this ponzi will finally get made examples of,through criminal prosecution by the FBI #cybercrime https://t.co/Ibctx9iBI1 — Digital Forensics Indonesia (@DFI_Indonesia) February 20, 2019 Of course, Bitconnect’s sudden rise through 2017 was aided by many cryptocurrency influencers. YouTube channels shilled the project to their followers, along with an army of promoters paid by Bitconnect to hawk the “investment opportunity” across social media. Some of those singing its praises have since disappeared. The whereabouts of others is reported in the following video: Whether the investigation will target those shilling BCC to their followers remains to be seen at this early staff. However, if you got involved in Bitconnect as an investor, you can find the FBI questionnaire here. Related Reading: Move over Twitter: Crypto Scams Have Infiltrated Facebook Featured Image from Shutterstock. The post FBI Seeks to Speak with Bitconnect Victims as Part of Investigation appeared first on NewsBTC.

15 hours ago

Ethereum (ETH) Could Still Determine The Direction Of Cryptocurrency Market

Ethereum (ETH) could still determine the direction of the cryptocurrency market and for good reason. This is because ETH/USD now has a lead on Bitcoin (BTC) and it can pretty much call the shots if it wants to. We saw this happen the past few days when both BTC/USD and ETH/USD went the opposite ways. Bitcoin (BTC) closed below the 50 day moving average whereas Ethereum (ETH) closed above it. Now, investors were left confused as to which one to trust. Historically, it has been Bitcoin (BTC) that has been dominant for the most part and the market sways towards its movements but this time Ethereum (ETH) took the lead and the market followed. We will get to why we think Ethereum (ETH) was successful in taking the lead, but first let us look at why we think Ethereum (ETH) can still determine the direction of this market. If we look at the daily chart for ETH/USD, it looks a lot different than that of most cryptocurrencies because the price has yet to fall below the 61.8% Fib level. In fact, ETH/USD has remained strongly above this level and if it continues to rally from here, there is a strong probability that the rest of the market will follow. The reason we say that is because ETH/USD has not yet run into a strong resistance yet. Furthermore, if the price rallies from here, it will lead to the 21 day exponential moving average crossing above the 50 day moving average which would see the price rising at least towards $180. This would be interesting to see and it could happen but we have some strong reasons to believe that it might not. Both the RSI and the Stochastic RSI have reached overbought levels and the price is extremely unlikely to rise as high as $180 from current levels. If it were to rise past the previous daily candle, it will have to lead to the 21 EMA crossing above the 50 MA which does not usually happen unless the market is ready for significant upside short term. However, there is an even stronger reason why we believe Ethereum (ETH) is unlikely to rally past current levels without coming down first. If we look at the daily chart for ETH/BTC, we can see that one strong move up from here would trigger the golden cross that we have long been waiting for. Ethereum (ETH) has not yet tested its previous market structure and neither has Bitcoin (BTC). A golden cross is most often followed by significant rallies to the upside. The only way a golden cross would happen at current levels is if the price were ready to break out meaning we would have already bottomed. I do not believe we have bottomed and I do not think the price is ready for significant upside from current levels. The only reason I believe Ethereum (ETH) was able to take the lead was because of the possibility of this golden cross which would push Ethereum (ETH) into a bull trend against Bitcoin (BTC). If this golden cross does not come to fruition at current levels, we will see Ethereum (ETH) follow Bitcoin (BTC)’s movements once again and the price would retrace significantly over the days and weeks ahead.

15 hours ago

CC Forum Blockchain, AI and Digital Innovation in Partnership with Malta AI&BC Summit

CoinSpeaker CC Forum Blockchain, AI and Digital Innovation in Partnership with Malta AI&BC Summit It will connect global thought leaders, policy makers, investors and startups from across the world for a 3 day top content event. It will be attended by the industry leaders, think tanks, institutional and private investors, family offices and VC firms. The event’s highlights include: 8500+ attendees 200+ influential speakers 20+ participants of the Investors’ Hub 300+ exhibitors Inaugurated by Hon. Prime Minister, the event is privileged to have some of the world’s most authoritative speakers, some of whom are global transformers. The programme of the event is highly intense: 3 stages, a buzzing exhibition floor, keynotes, panels, fireside chats, duels, startup competition, workshops, round tables and a number of networking events. Split across three tracks, the event’s agenda will address a wide range of issues including Blockchain & AI and Foreign Direct Investment, the Future of Digital Investment and the Regulatory Framework of the Blockchain & AI Space. Part of the event’s programme are one-to-one and two-to-two duels where heavyweights will engage in heated public debates on the big issues of the space. A distinctive feature of the event is the Investors’ Hub - an exclusive networking area where the brightest startups will have access to decision makers representing participating investment funds, VC firms and family offices, with a total of 70B USD under management. A series of high profile round tables involving Malta’s senior governmental officials and global investors will be held. A pitching contest will be held alongside the two day exhibition in the Hall’s lobby in which startups are welcome to participate. Last, but not least, the Forum abounds in a rich networking programme ranging from pre- and post- event receptions to private VIP retreats. It will culminate in the Gala Dinner & Awards Giving Ceremony. CC Forum Blockchain, AI and Digital Innovation in Partnership with Malta AI&BC Summit

16 hours ago

Bitcoin ETF: SEC adds VanEck-backed proposal for approval; initial decision in 45 days

The SEC has been very active in the sphere of cryptocurrency of late, with various proposals for Bitcoin ETFs going to it for approval. This has raised optimism among many that a consensus may soon be reached and that a Bitcoin ETF may soon be around the corner. Back in January, a Bitcoin ETF jointly-submitted by VanEck, SolidX and the CBOE BZX exchange was withdrawn owing to the US government shutdown at that time. According to recent reports, the VanEck proposal for a Bitcoin ETF was re-submitted for official approval and the SEC has announced that an application from VanEck, SolidX Partners and the CBOE is under review. Gabor Gurbacs, VanEck’s in-house cryptocurrency legal advocate, has not commented on this issue yet. However, over the week, Gurbacs has been very vocal in expressing his optimism regarding the approval of a Bitcoin ETF. He claims that the ETF’s approval could play a big part in the crypto industry and would be beneficial to both the investors and the budding market. The U.S Securities and Exchange Commission [SEC] has chosen 20 February to decide the initial decision regarding the ETF. This will also initiate the countdown of 45 days to decide whether the ETF will be approved or rejected again. The proposal that has been submitted will also be formally published on the SEC’s register in that duration. When the filing is accepted, the clock will begin on the SEC’s approval process with regards to the Bitcoin ETF. This would be the second Bitcoin ETF to be registered this month. A proposal made by Bitwise Investment Management and NYSE Arca is also on the table for compliance. Hunter Horsley, Chief Executive Officer of Bitwise Asset Management in a recent interview with CNBC’s Bob Pisani, expressed his optimism regarding the potential idea of a crypto-backed fund. Horsley explained that virtual currencies as a whole are in the “most viable’ state ever in the market. He added that an ETF tracking these virtual assets is inevitable, now more than ever. The Bitwise CEO was confident that the SEC’s concerns regarding potential market manipulation and custody have been addressed and that steps have been initiated in the right direction. The post Bitcoin ETF: SEC adds VanEck-backed proposal for approval; initial decision in 45 days appeared first on AMBCrypto.

16 hours ago

Jack Dorsey Tweets Support for Lightning Network Use on Twitter

Jack Dorsey has endorsed the recent launch of a Twitter in-browser tipping extension built using the Lightning Network. The second layer scaling solution launched last year allows for near-instant, feeless payments in Bitcoin and by using the new Tippin extension, users can show their support for posters’ content financially. Twitter users can add Tippin to either Chrome or Firefox. Once installed, each Tweet will have a lightning bolt symbol next to it - a symbol popularly used by Twitter users to signal their interest in Bitcoin and more specifically, the development of the Lightning Network itself. Tippin Impresses Dorsey, When Will Lightning Support be Native to Twitter? After Twitter CEO Jack Dorsey recently took part in a crypto community-run initiative to spread awareness of the Lightning Network, many observers asked when support for the second layer scaling solution added to Bitcoin would come to the social network. So far, there has been no word as to when (or even if) Twitter would integrate Lightning payments directly. However, although the recently created Tippin browser extension is not a built-in feature for every Twitter user, its use will certainly serve as an excellent “proof-of-concept” for those responsible for new features at the site. In fact, Dorsey was so impressed that he took the opportunity to Tweet the news of the launch to his 4.14 million followers: This is excellent ⁦@tippin_me⁩ https://t.co/FifrgwBOTp — jack (@jack) February 20, 2019 The Tippin browser extension is the work of developer Sergio Abril. According to the project’s Medium account, the software is still under development but is fully functional at present. To receive tips using the Tippin plugin, Twitter users simply login to their account through the Tippin site. Tips are then stored in a custodial wallet generated by the service. To send tips is a little more involved. This requires users create a Lightning Network wallet and a channel with Tippin to make Lightning transactions. Although not explicitly detailed, the author of the Medium post detailing how Tippin works hinted at its integration with other media platforms, such as Medium itself and YouTube. This could eventually cause a huge shift in the way online content is monetised. Jack’s Not a New Crypto Convert Of course, it should come as little surprise that Jack Dorsey is endorsing the use of Lightning Network so explicitly. The Twitter executive is also the CEO of the crypto-friendly mobile payments firm, Square, as well as being an early investor in the Lightning Network development startup, Lightning Labs. Dorsey is also excited about the potential future of Bitcoin more generally too. At a conference in New York last year, he stated: “The internet is going to have a native currency so let’s not wait for it to happen, let’s help it happen. I don’t know if it will be bitcoin but I hope it will be.” With his recent public endorsements of the Lightning Network and Square’s announcement to support the layer two technology through its Cash App, Dorsey is certainly making every move within his power to ensure that Bitcoin will one day become the unanimous currency of the internet. Related Reading: Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? Featured Image from Shutterstock. The post Jack Dorsey Tweets Support for Lightning Network Use on Twitter appeared first on NewsBTC.

17 hours ago

Cheap Fees Are Sooo 2018! Somebody Paid Over Half a Million USD in Fees To Send 25 Bucks Worth of ETH

The world of cryptocurrencies never ceases to surprise us and every now, and then a bizarre -or suspicious- news ignites the community’s flame again. On February 19, 2019, a user completed five Ethereum transactions for a total of about $20 and perhaps wanted to be very very sure that the transaction would be quickly confirmed because he paid excessive fees... +500K excessive Not One Mistake... Not Two... Not Three... Are These Really Just “Mistakes”? The Wallet 0x587ecf600d304f831201c30ea0845118dd57516e was responsible for the transactions. In the first payment, done at 1:10 am UTC it sent 0.01ETH which is an approximate of $1.47 to the wallet 0x39907f3f4ebe3d7482of359ef572d68af90c710f and paid 210 ETH in fees ( totaling $30,972.9 at the moment) ETH transaction #1 Maybe this could be an unfortunate mistake, however, one minute later the Wallet sent 0.02 ETH (under 3$) to 0xfaf9a39f268002734b15cbfb96b3d693c164ffd6 and paid 420 to the miners ETH Transaction #2 Eight minutes later it sent 0.1 ETH ($14.75) to the address 0x5855118caabae6df15594a246ad9a3344d380dec and paid the crazy amount of 2100 ETH in fees (a total of more than 309k) ETH transaction #3 They say that man is the only creature in the world that makes the same mistake twice; however, this person exceeded expectations and at 5:13 am made a new transaction of 0.02 ETH (less than 3 $) paying a fee of 420 ETH ($61,811.4). ETH transaction #4 And finally, one minute later the wallet made a new payment of 0.02 ETH (2.95$) to the address 0xfaf9a39f268002734b15cbfb96b3d693c164ffd6 but with 840 ETH in fees, for a total of ($124,689.60). ETH transaction #5 The Community Explains: From a “Very” Generous Person to an ETH Laundering Operation The community has tried to explain the reasons behind this strange series of events, however until now it is impossible to know for sure what the real reason is since the wallet is anonymous. In social networks, the explanations range from someone confused or drunk to some miner with a complicated M.O. to launder money. Mati Greenspan, an eToro analyst, commented that it could be a human error resulting from the bad programming of a Smart contract or trading bot. This is quite plausible because we wouldn’t be in the presence of someone who made the same mistake several times but of a programmer who made only one mistake and didn’t do the necessary tests. Who to blame? Bad design of Eth platform? Solidity flaw? — Fuadiansyah (@fuadviking) February 19, 2019 The dev who didn't test his script before publishing. — Mati Greenspan (@MatiGreenspan) February 20, 2019 The most common conspiracy thesis involves money laundering. Reddit user maxwell-alive elaborated a little on how this criminal activity could be carried out: Comment from discussion maxwell-alive’s comment from discussion "Someone just paid 2100 ETH for transaction fees.". Some users questioned this possibility, mentioning that any other miner could have confirmed the transaction and kept the commissions. However, supporters of the idea that everything is a money laundering operation explained that the miner could have made sure that the transaction was not sent, reserving the exclusivity of its mining and then put it on the blockchain as soon as the block is mined. One of them is aron9forever: Or, you can just skip the ‘sends out TX’ part, and then it becomes obvious how a miner can just include his own transaction with the crazy fee only if and when he mines a block. The other miners don’t have the signed high fee transaction to begin with. I’m unsure whether ETH has any protection mechanism against this (i.e something that forces a TX to be in the mem pool of the whole network before it can be included in a block) and am way too lazy to look it up. If there is none then this is a huge issue that I’m somehow shocked was overlooked from the original game theory behind ETH. What stops miners from hoarding larger-tx transactions for their own benefit? This can cause people to have their transaction forever hoarded by a greedy miner that never finds a block. If everyone has the TX, then of course it makes no sense, unless say the mining operation (split between 2-3 pools that SEEM distinct) has 70-80% of the hash-power, and they’re fine with 20-30% loss on their laundered money, in which case no amount of ‘lucky guys’ or ‘other pools’ will swing the law of large numbers over time. They don’t need to do this in one bang after all, could be 3k transactions of 100 fee each. So far the owner of the wallet remains anonymous, and it seems this will be the case for a very long time... The post Cheap Fees Are Sooo 2018! Somebody Paid Over Half a Million USD in Fees To Send 25 Bucks Worth of ETH appeared first on Ethereum World News.

17 hours ago

Cheap Fees Are Sooo 2018! Somebody Paid Over Half a Million USD in Fees To Send 22 Bucks Worth of ETH

The world of cryptocurrencies never ceases to surprise us and every now, and then a bizarre -or suspicious- news ignites the community’s flame again. On February 19, 2019, a user completed three Ethereum transactions for a total of about $20 and perhaps wanted to be very very sure that the transaction would be quickly confirmed because he paid excessive fees... +500K excessive Not One Mistake... Not Two... Not Three... Are These Really Just “Mistakes”? The Wallet 0x587ecf600d304f831201c30ea0845118dd57516e was responsible for the transactions. In the first payment, done at 1:10 am UTC it sent 0.01ETH which is an approximate of $1.47 to the wallet 0x39907f3f4ebe3d7482of359ef572d68af90c710f and paid 210 ETH in fees ( totaling $30,972.9 at the moment) ETH transaction #1 Maybe this could be an unfortunate mistake, however, nine minutes later it sent 0.1 ETH ($14.75) to the address 0x5855118caabae6df15594a246ad9a3344d380dec and paid the crazy amount of 2100 ETH in fees (a total of more than 309k) ETH transaction #2 They say that man is the only creature in the world that makes the same mistake twice; however, this person exceeded expectations and at 5:13 am made a new transaction of 0.02 ETH (less than 3 $) paying a fee of 420 ETH ($61,811.4). ETH transaction #3 And finally, one minute later the wallet made a new payment of 0.02 ETH (less than 3$) to the address 0xfaf9a39f268002734b15cbfb96b3d693c164ffd6 but with 840 ETH in fees, for a total of ($124,689.60). ETH transaction #4 The Community Explains: From a “Very” Generous Person to an ETH Laundering Operation The community has tried to explain the reasons behind this strange series of events, however until now it is impossible to know for sure what the real reason is since the wallet is anonymous. In social networks, the explanations range from someone confused or drunk to some miner with a complicated M.O. to launder money. Mati Greenspan, an eToro analyst, commented that it could be a human error resulting from the bad programming of a Smart contract or trading bot. This is quite plausible because we wouldn’t be in the presence of someone who made the same mistake several times but of a programmer who made only one mistake and didn’t do the necessary tests. Who to blame? Bad design of Eth platform? Solidity flaw? — Fuadiansyah (@fuadviking) February 19, 2019 The dev who didn't test his script before publishing. — Mati Greenspan (@MatiGreenspan) February 20, 2019 The most common conspiracy thesis involves money laundering. Reddit user maxwell-alive elaborated a little on how this criminal activity could be carried out: Comment from discussion maxwell-alive’s comment from discussion "Someone just paid 2100 ETH for transaction fees.". Some users questioned this possibility, mentioning that any other miner could have confirmed the transaction and kept the commissions. However, supporters of the idea that everything is a money laundering operation explained that the miner could have made sure that the transaction was not sent, reserving the exclusivity of its mining and then put it on the blockchain as soon as the block is mined. One of them is aron9forever: Or, you can just skip the ‘sends out TX’ part, and then it becomes obvious how a miner can just include his own transaction with the crazy fee only if and when he mines a block. The other miners don’t have the signed high fee transaction to begin with. I’m unsure whether ETH has any protection mechanism against this (i.e something that forces a TX to be in the mem pool of the whole network before it can be included in a block) and am way too lazy to look it up. If there is none then this is a huge issue that I’m somehow shocked was overlooked from the original game theory behind ETH. What stops miners from hoarding larger-tx transactions for their own benefit? This can cause people to have their transaction forever hoarded by a greedy miner that never finds a block. If everyone has the TX, then of course it makes no sense, unless say the mining operation (split between 2-3 pools that SEEM distinct) has 70-80% of the hash-power, and they’re fine with 20-30% loss on their laundered money, in which case no amount of ‘lucky guys’ or ‘other pools’ will swing the law of large numbers over time. They don’t need to do this in one bang after all, could be 3k transactions of 100 fee each. So far the owner of the wallet remains anonymous, and it seems this will be the case for a very long time... The post Cheap Fees Are Sooo 2018! Somebody Paid Over Half a Million USD in Fees To Send 22 Bucks Worth of ETH appeared first on Ethereum World News.

18 hours ago

Meet Memopay, the Bitcoin Cash Advertising Model That ‘Pays for Attention’

There’s a different kind of advertising taking place on the Bitcoin Cash (BCH) network, using an application called Memopay. The ad campaign platform employs a novel approach to advertise someone’s website, product or service by sending a small fraction of BCH to thousands of public addresses with an encoded OP_return message. Also read: BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery Memopay: Onchain Advertising The internet has completely transformed the advertising business into a whole new medium and programmable money is also going to create some new methods of sharing promotional content. For instance, an application called Memopay plans to do just that with its service that offers promoted onchain advertising using the BCH network. Memopay’s website explains that advertisers can reach out to bitcoiners by introducing products and services through onchain messages. The platform uses an OP_return transaction which gives an individual or organization the ability to tether a small message to the transaction and certain block explorers can read the messages. “Memopay delivers your ad message directly to the wallets of thousands of active Bitcoin Cash users,” explains the service. Memopay reaches out to bitcoin cash holders by sending small fractions of dust to an active address with a message tied to the funds. Basically, Memopay sends thousands of transactions by sending a small fraction of BCH dust to active BCH wallets. The service believes each ad message delivered along with a small amount of bitcoin cash “pays for attention.” So far the business has run about six onchain ad campaigns that have added up to a total of 88,063 ad messages delivered. A typical transaction could be like 0.00001111 BCH (1111 satoshis) and Memopay says there have been 95,623,876 satoshis distributed. For instance, the company Cyberian Mine ran a campaign with Memopay because they wanted to drive awareness to potential crypto-focused clients. According to statistics recorded by a Bitdb query in real-time, 10,000 ad messages were delivered and Memopay claims the company saw a 110 percent spike in organic traffic to their website. “You only pay when they click to visit your website,” the website details. In another instance, Memopay tied an editorial that was shared online and delivered the link to 1,000 BCH holders. The company reports that the campaign saw a 2.5 percent click-through-rate (CTR) already after 24 hours. Memopay is also integrated with three of the major BCH block explorers developed by Bitcoin.com, Btc.com and Blockchair. An example of Cyberian Mine’s CPS ad campaign using Memopay. The New Advertising Target: 16 Million Public Bitcoin Cash Addresses The process to run a campaign is fairly intuitive as the user simply chooses an ad mode to drive traffic to a website or pay for clicks only or CPS to drive awareness by paying for each delivered message. Then they have to fill out the request form and create a custom advertising message that will attract consumers. After that, the user funds the provided address with BCH to start the ad campaign. Memopay users then receive a link to the ad campaign’s dashboard to see the real-time progress of the promotional content. The campaign dashboard. Memopay says there are many benefits to using the service and the top attribute is a direct connection to a cryptocurrency audience. There are 16,984,512 BCH addresses and each and every one of them is open to the public’s view. This gives the project transparency says Memopay as “each contact with Bitcoiners is recorded on the Blockchain and can be easily checked.” “[Memopay] is keyword agnostic and customers pay the same price for any keyword used,” the startup notes on the website’s benefits description. “In both Cost-per-click and Cost-per-send campaigns you’ll know exactly what the price is — Ad messages with an active link will be stored on the Blockchain forever.” Paying for attention by using OP_return transactions that will be seen on a blockchain explorer is not new and has been done for years. TD Ameritrade created this picture last year and embedded it into the BTC chain. Paying for people’s attention in the advertising business is basically the name of the game but using blockchain technology adds a different flavor. Advertising using OP_return transactions has been done many times in the past in various ways. For example, back in April of 2018 the online broker for online stock trading and financial management service TD Ameritrade used BTC OP_return transactions to advertise the company. Its logo surrounded by a digital flag is forever etched into the BTC chain as the firm used 68 transactions to create the message. “The blockchain is an amazing piece of technology — And we’re proud to be part of it — Forever,” the banking institution stated at the time. What do you think about the Memopay advertising service? Let us know what you think about this subject in the comments secti

19 hours ago

Another ICO bites the dust: SEC settles charges against Gladius

The Gladius Network raised more than $12 million in an ICO in late 2017. Now, it must give the money back to any investor who wants a refund as part of its settlement with the SEC.

19 hours ago

David Schwartz: XRP Ledger Is Getting More Decentralized And It’s Better Than Bitcoin

While XRP fights to remain relevant as one of the top-most cryptos in the market, the development team at Ripple is making efforts to improve the network’s functionality. David Schwartz is one of the people in the team that started work on the XRP Ledger, and he has a few facts to share about it. The Last Year In a recent interview with Joe Kaltz, David delved into the Ledger’s development over the last year. In his view, the XRP Ledger has become even more decentralized over the last one year, with the number of transaction validations handled by the parent company, Ripple, being reduced significantly to give more leeway for other independent operators. Hear @joelkatz talk about the XRP Ledger and what he’s excited to see on the network in 2019. pic.twitter.com/PiJJuupeyL — Ripple (@Ripple) February 19, 2019 Bitcoin Network Vs XRP Ledger Going further, David explained the major difference between the XRP network and the Bitcoin network in terms of transaction processing. The XRP Ledger uses the Consensus Protocol as opposed to Bitcoin’s Proof-of-Work system. In effect, David opined that the Bitcoin network hasn’t lived up to expectations, with a major impediment being the network speed. He compared the transaction processing speeds of the two networks. With Bitcoin, a transaction can take between 10 minutes to an hour to be fully confirmed and validated while the same can take seconds on the XRP network. What’s Up In 2019? Asked about what he expected in 2019, David said that he looks forward to seeing more and better use of the Decentralized Exchange (DEX). The XRP Ledger has been using DEX since 2012. Adding to that, David said that 2019 could be the year we get to see more proliferation of cryptocurrencies as well as stable coins in the financial market The Comments Since the interview clip was posted on Twitter, various Twitter users have come out to drop their comments. For the most part, David’s opinions seem to strike a chord with the majority of the users. One user opined that DEX could be an integral part of the Ledger’s legacy by virtue of its ability to facilitate trading through a bridge asset even under unfavorable conditions. The post David Schwartz: XRP Ledger Is Getting More Decentralized And It’s Better Than Bitcoin appeared first on ZyCrypto.

20 hours ago

Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin

The 5th largest cryptocurrency Litecoin has been having a green February for the most part as it surges 59 percent in this month alone. At the time of writing, Litecoin has been trading at $51.50 with 24-hours gains of 6.03 percent. In the BTC market as well, it has been in the green by over 6 percent. While the top cryptocurrencies like Bitcoin, XRP, Stellar, Tron, Cardano, Bitcoin SV, IOTA, and Monero have turned red by around 1 to 2 percent, it’s amazing that Litecoin is still holding gains. Since hitting the bottom in mid-December at below $23, Litecoin has climbed more than 120 percent, outperforming the top cryptocurrencies, especially Bitcoin. LTC price chart, Source: Coinmarketcap It is not only the Litecoin price that is surging, but the LTC/USD longs are also approaching its all-time high in November 2018. With the way the longs are spiking, there is a low possibility that a severe drop would be happening. LTC/USD Longs, Source: TradingView Litecoin Outperforming Bitcoin Meanwhile, the February month saw Litecoin trading volume going well above $1 billion. Currently, LTC is managing the daily trading volume of $1.54 billion which is seeing a slight increase from yesterday’s $1.4 billion, unlike Bitcoin’s daily trading volume that yesterday hit its highest at $9.9 billion in about 9 months only to now drop down to $8.8 billion. According to the data provided by Coin Metrics, on February 9th, the exchange volume went to $1.7 billion for LTC and the last time Litecoin’s daily trading volume has been above $1 billion has been a year back in February 2018. Litecoin Exchange Volume (USD), Source: Coin Metrics This is not the first time that Bitcoin has been outperforming Bitcoin by price and trading volume increment as the 5th largest cryptocurrency has historically led the Bitcoin rallies as well, as Joe McCann said, “Looking at how LTC has outperformed BTC since the epic selloff on November 14th 2018, we can see that LTC has outperformed BTC by better than 4:1 from current cycle low to current session high. As mentioned before, LTC has historically led BTC rallies...” In the first week of February, Litecoin price started seeing a surge on the grounds of Litecoin creator, Charlie Lee announcing new features in the form of fungibility and Confidential Transactions to be added on Litecoin. However, unlike the previous time, Litecoin Foundation took active steps this time by exploring Mimblewimble implementation and collaborating with Beam for this. Apart from the trading volume keeping the prices up, the on-chain transactions on Litecoin have been keeping stable around 20k. Even during the bear market, the transactions have held their ground that means speculators have fled from the Litecoin market, as noted by eToro senior analyst, Mati Greenspan, who further added, “Unlike Bitcoin, $LTC has already snapped its long term bearish trend line (yellow) at the beginning of the year. At the moment, there’s a strong psychological resistance at $50, but after that it’s smooth sailing #ToTheMoon.” Well, Litecoin has already crossed $51 and now with only about 168 days are left in Litecoin reward halving, it would be interesting to see where will this short-term rally lead to or if Litecoin is leading another rally to the peak! The post Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin appeared first on Coingape.

20 hours ago

Two Sides of a Coin: Blockchain, Ethics and Human Rights - InfoQ.com

Key Takeaways Blockchain technologies are a powerful tool that has many uses outside of finance and cryptocurrencies. Like any other powerful technology, its societal impact depends in large part on how it is used. Although there are hundreds of blockchain initiatives aimed at social good, few entrepreneurs, commentators or academics have turned their

20 hours ago

Changelly Partners Sum&Substance: Bringing the Smoothest User Experience through the Best Market Practices

Along with cryptocurrency market development and strengthening the legal framework of the whole blockchain industry, Changelly non-custodial cryptocurrency exchange service continually optimizes its product line to make it more trustworthy. Like all big market players, Changelly keeps an eye on the best market practices in terms of AML&KYC policy and use the most effective services to counter fraud. Following extensive legal field research, Changelly partnered Sum&Substance (Sumsub) - an AI-based ecosystem, which allows online services around the world to meet regulatory requirements, prevent fraud and enhance customer confidence. The New KYC Working Principles The Sumsub KYC check will be implemented directly inside the exchange process so that Changelly users won’t need to leave the familiar interface and interrupt the swap. The system will prompt the user for a photo of his ID and a selfie with it. All the pegged documents will be scanned automatically and the whole screening process will take from 5 to 10 minutes. Changelly users will only need to pass KYC once to be continually able to swap any crypto amounts in the future. “It’s crucial not only to be fully compliant with the requirements but also to provide the most convenient user experience. That is the challenge that Sumsub ecosystem meets perfectly. Changelly users will only need to pass KYC once through our system to access hundreds of partner services at the touch of a button. At the same time, the system will ensure the full compliance with the EU regulations,” - stressed Jacob Sever, Co-founder at Sumsub. “As operations with virtual assets steadily become a part of our daily routines we at Changelly make a new step forward making crypto swaps more handy and safe. We introduce our partner - Sumsub which turns up a user verification on our service so quick, easy and reliable. Sumsub brings top technologies, high expertise and full law compliance into AML/KYC process, I’m sure that together we can make the crypto world a cozy place to live in,” - COO Changelly, Dmitry Burin admits. About Sum&Substance Sumsub is a bank-grade KYC / AML multi-account ecosystem. The company has been working with banks, fintech and blockchain projects since 2015. Sumsub AI-based system provides its business clients with seamless KYC / AML checks that comply with all the market regulators requirements along with international requirements including The Financial Action Task Force (FATF) recommendations. All data is transmitted over secure communication channels with a high level of encryption. Sumsub has the necessary infrastructure for secure data storage and is fully compliant with data privacy (GDPR) requirements. The company is now one of the market leaders in online verification and KYC/AML in Central, Eastern Europe, and Asia. The Sumsub 350+ portfolio of B2B clients includes such prominent companies as BlaBlaCar, Cryptopay, Philip Bank, Mail.ru Group, Gett, Exness, FX Open, etc. About Changelly Changelly is a non-custodial instant cryptocurrency exchange. We act as an intermediary between crypto exchanges and users, offering access to 130+ cryptocurrencies. The company mission is making an exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support. Changelly offers its API and a customizable widget to any crypto service that wishes to broaden its audience and implement new exchange options. Changelly partners with MyEtherWallet, Exodus, Binance, BRD, Edge, Coinomi, Trezor, Ledger, Enjin, Coinpayments, Huobi Wallet and other well-known players in the crypto industry. The post Changelly Partners Sum&Substance: Bringing the Smoothest User Experience through the Best Market Practices appeared first on Ethereum World News.

20 hours ago

PR: Global Cryptocurrency Derivatives Exchange Bybit Releases Ethereum Perpetual Contract

Bitcoin Press Release: Derivatives Exchange Bybit has officially released its second product, an Ethereum perpetual contract. February 18th 2019, Singapore - Singapore-based global derivatives exchange Bybit has announced the official release of its new 100x leverage Ethereum perpetual contract. Two months after its official launch, the company added a second pair to their already popular BTC/USD perpetual contract, a move that is sure to boost the already-growing user base and trading volume the exchange has seen surging in the last two months. The new 100x leverage ETHUSD perpetual contract works in the same way the previous perpetual contract did with a speed matching engine processing 100,000TPS for the contract, a fully accessible ETH wallet for withdrawals and deposits, a dual price mechanism, funding, and professional risk control.Perpetual contracts are a new type of futures contract with no expiry date, and are a part of the derivatives family. Derivatives can profit from both a surge or a drop in price depending on the position opened and can use leverage to multiply the profits earned from a trade. Bybit Academy Similarly, in an effort to expand and attract more day traders to its platform, the company has just added Korean as a new language on the platform. It has also intensified its effort in the Bybit Academy, a separate brand dedicated to providing the best crypto day-trading education for beginners, and has stated it will release articles, videos, comics, and analysis covering everything needed to know to enter the crypto derivatives market with knowledge and confidence. About Bybit Bybit is a global cryptocurrency derivatives exchange designed for all retail traders, professionals and investment institutions alike. Bybit aims to revolutionize today’s cryptocurrency market by combining the best of cryptocurrencies and traditional finance to bring about the industry’s safest, most reliable, fairest, and most user-friendly trading platform. Headquartered in Singapore and registered in BVI, their founding team is made of expert blockchain investors and financial executives. Their R&D team includes experts from BAT, while their risk control and operations teams consist of specialists coming from world famous companies like Morgan Stanley. Find out more about Bybit on the Website Chat on Telegram Check out Bybit on Twitter Follow Bybit on LinkedIn Follow Bybit on Facebook Stay up to date on Medium Media Contact Details Contact Name: Joseph Imbruglia Contact Email: Marketing@Bybit.com Bybit is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: The post PR: Global Cryptocurrency Derivatives Exchange Bybit Releases Ethereum Perpetual Contract appeared first on BitcoinNews.com.

21 hours ago

Spencer Bogart Outlines 4 Reasons Why Bitcoin is the World's 'Most Compelling Asset'

Spencer Bogart recently told Bloomberg that Bitcoin is still “the most compelling asset in the world right now” and Bogart suggested that now is the perfect time to buy the digital asset. He told Bloomberg that he expects Bitcoin to reach $50,000 eventually and he pointed to four pressing reasons why the digital asset will soon rally to new highs. Bogart explained that growing interest from pension funds and institutional investors will be the primary catalyst for the next bull run and he cited Fairfax County’s (Virginia) to allocate part of its pension fund to Morgan Creek’s blockchain opportunities fund. Bogart believes that a domino effect will begin as additional pension funds follow suit. Bogart also cited the rise in global tensions and national debt as a reason for investors to embrace cryptocurrency and he suggests that constant entrepreneurial activity in the blockchain and crypto-space show the sector is thriving. Ultimately, Bogart believes that Bitcoin naturally grows stronger over time and he said, “Every day that Bitcoin is still alive it goes from scary and unknown to trusted and proven.” (RS)

21 hours ago

Bloomberg Attributes Current Crypto Rally to the Debut of JP Morgan Coin

On Wednesday Bloomberg tweeted that “Bitcoin is getting a delayed boost from the announcement that JPMorgan has developed a digital coin to speed up payments between corporate customers.” The proclamation has riled the crypto community and various crypto-media outlets claim that Bloomberg’s suggestion shows an ‘epic lack of understanding on part of the mainstream media and the financial industry at large.’ Bloomberg cited a recent statement from eToro analyst Mati Greenspan who suggested that JP Morgan’s use of cryptocurrency could “have a positive effect on the industry”. What Bloomberg fails to recognize is that JPMCoin is pegged to the U.S. dollar and this makes it more of a stablecoin than a cryptocurrency. The token will primarily be used to settle payments between clients and there is the possibility of it being used to digitize stocks and bonds. (RS)

a day ago

Bloomberg Hilariously Reports JP Morgan’s Fake Cryptocurrency is Boosting Bitcoin’s Price

Bloomberg is outrageously reporting that the launch of JP Morgan’s new cryptocurrency is boosting bitcoin prices. It reveals an epic lack of understanding on the part of mainstream media and the financial industry at large. And it’s a disservice to those who rely on traditional financial media for trusted information. Bitcoin is getting a delayed boost from the announcement that JPMorgan has developed a digital coin to speed up payments between corporate customers 📈 https://t.co/L9eQ5YBxZ2 pic.twitter.com/mAvqXj8ZQe — Bloomberg Crypto (@crypto) February 19, 2019 The story credits weak analysis from Etoro analyst Mati Greenspan: “What some people have pointed to is The post Bloomberg Hilariously Reports JP Morgan’s Fake Cryptocurrency is Boosting Bitcoin’s Price appeared first on CCN

a day ago

EUR/USD Hints At Bitcoin (BTC)’s Next Move After An Aggressive Rally

Bitcoin (BTC) has rallied aggressively over the past 48 hours which many believe to be a sign of a trend reversal or bullish momentum returning back to the market. However, I do not agree with it for the most part as I believe this rally had more to do with the rise in EUR/USD than Bitcoin (BTC) itself. As we can see on the daily chart for EUR/USD, the Euro has been on a roll for the past few days. When EUR/USD rises, it means the US Dollar (USD) goes down. So, when the US Dollar (USD) goes down, we see a higher price of Bitcoin (BTC). Now one could say we have seen a sudden return of bullish momentum to the market or one could go look at the real factors responsible for the sudden surge in the price of Bitcoin (BTC). It is a fact that BTC/USD has long been due for a correction to the upside as we discussed in many of our previous analyses. As it happened, that rally profited off the rise in EUR/USD but had nothing much to do with Bitcoin (BTC) itself. The S&P 500 has been rising for the past few days profiting off a weak dollar same as Bitcoin (BTC). So, what does it all mean for Bitcoin (BTC)? While we have been in a bear market for far too long and a trend reversal is expected in the near future, let us not forget that this trend reversal will take its time. It cannot be just one sudden break out to a new all-time high. That being said, those of you who are reluctant to sell their coins at this stage anticipating a break to the upside anyway, you are better off holding your cryptocurrencies if you accumulated at levels we previously discussed. However, now is not the time to be buying Bitcoin (BTC). If we look at the daily chart for EUR/USD once more, we can see that the price struggled to get past the 61.8% Fib retracement level but it failed many a time. It succeeded around early 2019 but soon had to fall back below that level. This time though, the price has broken below the 38.2% Fib level and will now be testing it as a resistance. This could go on for a while which means it might take Bitcoin (BTC) weeks if not months to find its actual bottom. The daily chart for BTC/USD also shows quite clearly what is going on. The price has run into the 61.8% Fib retracement level and is now expected to fall back as this level also coincides with a critical trend line resistance. While it is possible that the price might end up breaking to the upside, the probability of that happening is far too low and we might see a decline to the 38.2% Fib level at least if not a lot lower in the near future.

a day ago

XRP: SBI CEO Yoshitaka Kitao says XRP’s market cap will easily overtake that of Bitcoin’s in 2019

According to reports by FX Street and other publications, SBI CEO Yoshitaka Kitao said that XRP’s market cap will easily overtake that of Bitcoin’s by the end of 2019 due to XRP being adopted on a global scale for payments and settlement transactions. Ripple has plans in place to achieve its Internet of Value and allowing its customers across the world to be part of a global ecosystem, RippleNet. R3, another enterprise blockchain software firm, is leveraging XRP and XRP Ledger’s technology to facilitate corporate settlements on the Corda Network. SBI’s Mr. Kitao shares the same dreams, but with respect to Japan and improving its payments industry. Yoshitaka Kitao said, “Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).” Furthermore, Mr. Kitao added that they will be using R3’s Corda and XRP in turn to process international remittances. He continued, “You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market... What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.” SBI has strategically placed itself at the center of the cryptocurrency revolution by partnering with important leaders in the cryptocurrency ecosystem, and this involves Ripple, R3 and other companies that are based all across the world. The recent report by SBI published on December 31, 2018, details how SBI plans to achieve their dreams, specifically, Mr. Kitao’s dreams to restructure Japan’s payment industry and make it more efficient as compared to its neighboring countries. Kitao also addressed how Bitcoin has no value to provide if it would be considered in a practical use-case scenario and even said that XRP would satisfy all the demands that Bitcoin couldn’t. The post XRP: SBI CEO Yoshitaka Kitao says XRP’s market cap will easily overtake that of Bitcoin’s in 2019 appeared first on AMBCrypto.

a day ago

The @Changelly_Team just published an interview with @MaxKor...

The @Changelly_Team just published an interview with @MaxKordek as part of their 🗣️#CryptoTalks series. Check it ou… https://t.co/BjrhuFZ5UU

a day ago

New Nova and IOTA Foundation Partnership Promises Breakaway Growth for IOTA Entrepreneurship

The Berlin-based IOTA Foundation has forged a new alliance with Nova, a startup cofoundery that promises to help aspiring entrepreneurs in turning “good ideas into great companies.” Both entities have agreed to combine their resources to create a seed fund for entrepreneurs working on distributed ledger technologies. At the core of this partnership is the vision to make it easier for up-and-coming technology startups to adopt Tangle, a type of distributed ledger that powers the IOTA ecosystem. Tangle promises to make decentralized transactions cheaper and quicker by offering a more scalable and highly adaptable alternative to the blockchain. Funding and Mentorship for IOTA-based Startups The partnership between Nova and the IOTA Foundation is aimed at addressing the underlying reasons that often restrict the scope and reach of tech startups. The seed fund is only a part of that gameplan. In addition to offering financial aid to entrepreneurs harnessing the Tangle, the IOTA Foundation will also open up its test lab for startups to build, improve, and test their Tangle-based solutions. Nova will chip in with its expertise in mentoring would-be entrepreneurs. The Liverpool-based startup cofoundery will lend its tech startup team comprising 20+ startup consultants for the cause and invest in tangible ideas rich in potential for user problem-fit. ‘Ideas Coming into Fruition’ With such an excellent support infrastructure in place, the IOTA Foundation is optimistic that IOTA entrepreneurs will now have the all the means at their disposal to further enrich the ecosystem by delivering innovative solutions with real-world impact. Reasserting that Tangle is more efficient and impactful than blockchain, IOTA co-founder David Sønstebø, stated that the evolving technology brings along huge potential for M2M payments. The partnership with NOVA, he added, will see ‘ideas coming to fruition.’ Andrew Dean, Head of Partnerships at Nova, echoed the sentiment by stating: “The fact that 90% of startups fail means that there are loads of brilliant business ideas out there that simply never materialize into anything meaningful, and a lot of talent and ambition is wasted.” “We want to make sure that IOTA entrepreneurs have the best possible chance of success. Some of the most exciting technological developments of our time are fueled by IOTA technology, and we’re looking forward to playing a part in bringing some of those ideas to market.” For the uninitiated, Nova is a platform dedicated to helping out entrepreneurs who have the expertise and experience in a field but lack the resources to launch a business from the ground-up. New Nova and IOTA Foundation Partnership Promises Breakaway Growth for IOTA Entrepreneurship was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

a day ago

Top 5 Barriers Reliable Crypto Exchanges Could Face

Exchanges that facilitate trading are an integral part of the crypto industry. Without platforms like Coinbase and CEX, investors would not be able to reliably trade their beloved Bitcoin, Ethereum, or Ripple. Exchange services may deal with both fiats and crypto or only with the latter, they also can have mobile app versions to make […]

a day ago

BTC Investor Tim Draper Believes JP Morgan Chase’s Cryptocurrency Is ‘Great News’

Almost two years after taking a swipe at Bitcoin, calling the digital asset a fraud and worse than tulip bulbs, JP Morgan Chase chief Jamie Dimon announced on Feb. 14 that the bank had launched its cryptocurrency known as the JMP Coin. The news met mixed reactions from the crypto community, some believing that it was a great step forward for the industry as a whole while others think that it doesn’t mean much as long as it is confined to the bank’s transactions only. Tim Draper Reacts to JMP Coin The announcement comes as a big surprise to many who believed that Dimon is against the new technology. Jamie Dimon CEO of #JPMorgan in 3 years #BTC #JPMCoin #crypto pic.twitter.com/MyXoc3dFHl — Neda Aarabi (@nedaa990) February 18, 2019 However, others embrace the news and believe that the addition of the new coin to the industry is interesting. Billionaire and Bitcoin investor Tim Draper, who has spent millions investing in Bitcoin said the announcement of the JMP Coin is “great news” for the crypto industry. In an interview with FOX Business on Feb. 17, Draper said: “Not many Bitcoin knock offs have worked particularly well, but they all add to the interest in bitcoin.” Draper is a venture capitalist who has made bets in big companies such as Tesla, Hotmail, and Skype. The venture capitalist has invested a huge amount of money in Bitcoin because he believes that its underpinning technology, the blockchain, will be an integral part of the new virtual world. The JMP Coin will be pegged to the USD on a one-to-one ratio but will only be used on the bank’s payment system. Bitcoin and the Future of Money Draper has previously stated that cryptocurrencies are set to change a lot of things at a bigger scale than the internet. Last May Draper said: “This is going to be the biggest change in the history of the world and it’s so exciting. I thought the internet was super exciting, but this is going to completely change everything and the government itself is going to change.” He said that the future is Bitcoin and it will be the new store of value. Draper said: “Over time, when they start taking bitcoin, I’m going to be pretty much-moving everything [out of the banks]. There is no reason to hold on to shells when you’ve got gold.” The price of Bitcoin has declined considerably since reaching its peak of more than $19,000 in December 2017. However, Draper believes that the world’s largest cryptocurrency by market capitalization will bounce back and reach a high of $250,000 in 2022. The announcement of the JPM Coin did not have a direct impact on the price of Bitcoin or the wider cryptocurrency market. The crypto market, which has endured a protracted bear market since the beginning of last year, has seen some major gains since Feb. 18. Bitcoin was trading in the $3,600 region a week ago but has now climbed to $3,900. It remains to be seen if the bull run will continue for some time. BTC Investor Tim Draper Believes JP Morgan Chase’s Cryptocurrency Is ‘Great News’ was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

a day ago

Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom”

Volatility entered the market on the weekend when greens exploded across the cryptocurrency space with top ones registering a rise of as high as 12 percent in a day. Bitcoin took a spike as well and briefly hit $4,000 on Bitfinex. At the time of writing, Bitcoin has been trading at $3,952 with 24-hours gains of 0.42 percent, as per data provided by Coinmarketcap. Bitcoin price 5-days chart, Source: TradingView The price wasn’t the only one that took a spike, one of the strong factors that contributed to this hike has been its trading volume. The leading cryptocurrency that is currently managing the daily trading volume of $8.95 billion yesterday hit $9.9 billion. This high was previously registered on May 3rd, 2018. Trading volume has an integral part to play in the Bitcoin price as the crypto trader and analyst Josh Rager shared, “Bitcoin currently at resistance level with a break and close above $4100 is bullish. But...Volume continues to decrease on high time frames: the decreasing volume w/ rising price = bearish. If the volume doesn’t pick up, I foresee BTC price dropping back to support.” It’s a possibility that as traders and investors start getting bullish, the flagship cryptocurrency might do a U-turn and take a hit to another bottom as many analysts have already predicted for in the first quarter of 2019 as Rager further comments, “I expect bullishness and overconfidence by majority before a drop to the bottom.” “Notice the long wick, a nice sign of a slight retrace likely. Would like $BTC push up slightly higher to at least $4100 to mid $4ks would be a nice a target. For traders, this is good volatility. For Holders, you could see new lows in the coming weeks,” noted Rager. Now, similar thoughts are echoed by economist and crypto trader Alex Kruger who says, the current market has covered all the factors, viz. “Capitulation” that occurred from November to December in 2018, then bounced off long term trend measure, twice, on Dec & Feb (200 WMA), and the current movement that broke out from High Low” in high volume, to hit the bottom. In the short term, analysts are predicting Bitcoin to move between the $3,700 and $4,200 range while as Rager noted and now Kruger, once this $4,200 level gets broken, price can move really “fast,” but it in no way means Bitcoin price won’t crash rather the chart is giving bearish signals. “Prices may crash again. After all, bitcoin’s demand is almost entirely speculative, and natural sellers (miners, exchanges) will always sell.” The post Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom” appeared first on Coingape.

a day ago

Former Research Analyst Claims That BTC Bottoming Is A Good Thing

Over the past few days, the price of Bitcoin has seen some decent gains and has nearly gone above the $4,000 mark at the current time of writing. But according to one of the founding partners at the New York hedge fund Tetras Capital Alex Sunnarborg, the quicker Bitcoin tanks, the better. Speaking to Forbes, Sunnarborg said, “calling [the bitcoin bottom] is very difficult. That’s part of the reason I’m really thankful that we’re in the position we are right now. We can hedge ourselves, remain more neutral, and not have to call that exact price or timing bottom. I’m not confident right now. Our portfolio is relatively neutral. We have cash and short positions.” The sworn enthusiasts of Bitcoin is eagerly waiting for the crypto market to just crash and hit the bottom of the bottom. You might think that this is a very bearish way of thinking but in reality, Sunnaborg’s intentions behind this are very bullish. According to him, as soon as the market bottoms out, it will then be able to rehabilitate and repair itself. Furthermore, Sunnarborg believes that it would be best for the Securities and Exchange Commission to ‘crush the bad actors’ in the crypto industry in order to help clean it up. If there was a so-called crypto apocalypse right now, this would be the best thing for the industry according to Sonnarborg as then the crypto space can start again. “What would be really good for a market bottom to happen would be for every potential bad thing to happen immediately. I would love to see the SEC come down on people really hard.” Sunnaborg continues, saying, “one of the biggest problems in this space is there are so many bad actors, and so many were related to ICOs. The SEC just has such a massive task ahead of them. One way to think about the bottom is that it happens when all the bad news gets washed out. At that point the only thing to do is go up, and you can’t really talk about any negative catalysts anymore, because they’ve all happened.” Essentially, the Tetras Capital partner is bord of all of the bad news flooding into the industry in regards to all the dodgy activity that occurs on almost a daily basis. The former research analyst said that the crypto ecosystem needs to be more reputable and regulated in order to fix the bad image tied to it.

a day ago

The UK is going cashless and, like most of the world, has no plan for what happens next

Cash usage is shrinking in the Britain faster than in most places, and the debate about what to do about it is getting louder. That’s important because, like just about every country where digital payments are taking over, the UK doesn’t have much of a plan for what happens next. In the UK, plastic payment cards are the most popular way to buy things. Only about 30% of transactions use paper notes and coins, and that figure is expected to fall to as low as 10% in the next 15 years. The ratio is already at 15% in Sweden, which will become effectively cashless in a few years time. And just like Sweden, the machinery that makes cash available is disappearing across the UK. More than 3,000 bank branches have been shut down in Britain in just over four years, and are closing at a rate of almost 70 each month, according to Which?, a consumer association. Cash machines are vanishing at an even faster rate, at about 300 per month. “It would be naive to think we’ll be living in an economy of notes and coins in the mid- to long-term future,” Helen Prowse, a spokeswoman for digital payment company Square, said yesterday at a debate held by Monzo, a London-based fintech startup. “Digital payments are clearly the future,” Natalie Ceeney, chair of the UK’s Access to Cash Review, said at the same event. “The issue is that digital does not yet work for everyone.” Some people think Sweden serves as an example of how not to get rid of cash. These days, most of the country’s banks don’t accept paper money or coins, and the same is true of many restaurants and stores, and even public toilets. The elderly, poor, and people with handicaps can be especially unprepared—and therefore vulnerable—when cash isn’t accepted. Two important takeaways from a separate event in the London last week about cashless Britain is that Sweden shows how difficult it can be to rebuild cash infrastructure once it’s gone, and that Swedish officials say they should have planned better for the decline. It’s a pressing issue for Brits, as cash handling becomes more expensive and digital money becomes relatively cheap, increasing the pressure to switch to card payments. Some also argued that, while the issue has been studied (pdf), Britain still doesn’t have a formal plan in place. Last week’s discussion, which included financial executives and academics, took place under Chatham House Rule, meaning the identities of the people who made the comments can’t be identified. In the UK, the Payment Systems Regulator was set up in 2015 and is “closely monitoring developments within ATM provision,” a Treasury spokesperson said in an email. “While the decision to close bank branches is a commercial decision, we understand the impact it can have on communities. Banks must now give customers as much notice as possible when a branch is closing, and ensure they are made aware of the options they have locally to continue to access banking services.” The UK’s Access to Cash Review published findings in December (pdf) indicating that physical notes and coins are “an economic necessity” for around 25 million people in Britain, and nearly half of people it surveyed said a cashless society would be problematic for them. ATMs and bank branches are under particular pressure in rural communities, where broadband and mobile service is unreliable or unavailable. Next month, the review plans to publish its recommendations on how to deal with declining cash availability. “With the way that people access their cash seemingly on the precipice of collapsing, the government can’t just bury its head in the sand,” Nicky Morgan, chair of the UK’s Treasury Committee, said recently. Why get rid of cash in the first place? There are a lot of good reasons. When shops switch over to digital money, their workers are less likely to be victimized by violent robbery. It can also be faster and cheaper than processing notes and coins. For governments, cash helps enable the underground economy through tax evasion as well as illicit finance. And keeping cash around doesn’t bring formal financial services to the more than 1 million working adults who are unbanked. “Digital payments can be something that’s a positive force for good,” Square’s Prowse said yesterday. As cash dwindles, there are plenty of problems to sort out, especially when it comes to privacy. Even so, it seems likely that protecting cash usage is only part of the answer.

a day ago

Mt. Gox - Bitcoin exchange’s key challenge was getting fiat, says Stellar’s Jed McCaleb

Mt. Gox, a Bitcoin exchange platform, continues to linger in the minds of several investors and traders. This is mainly because of the exchange’s part in Bitcoin’s adoption and the hack that led to its doom. Originally, it went by the name, ‘Magic: The Online Gathering Exchange,’ a platform for trading ‘Magic: The Gathering’ cards. This platform was soon re-modified in order to enable the trade of Bitcoin, the largest cryptocurrency by market cap and also the very first coin in the space. Soon after this, the exchange rose to popularity as it enabled Bitcoin to US Dollar trade. Moreover, Bitcoin also witnessed one of its major bull runs under the aegis of Mt. Gox. However, Bitcoin’s fall was also under the aegis of the exchange platform. In the year of 2014, the exchange platform lost over 7% of the total Bitcoins in circulation due to a hack. 750,000 of the stolen BTCs were owned by customers of the platform while 100,000 BTCs were owned by the exchange platform. The total worth of the hack at that point in time was approximately around $475 million, making it the biggest ever hack to take place in the cryptocurrency space. Currently, the exchange platform is undergoing a rehabilitation program, in an attempt to give Bitcoins back to their creditors. Apart from this, Brock Pierce, a former director of Bitcoin Foundation, and a venture capitalist, has begun a project pertaining to Mt. Gox, known as Gox Rising, claiming that his firm has acquired all the rights of Mt. Gox from Mark Karpeles. However, Karpeles has shot down these claims on his Twitter handle. Recently, Jed McCaleb, the co-founder of Ripple and the CTO of Stellar, spoke about the infamous exchange platform, in an interview with WhatBitcoinDid. Apart from being a part of these leading cryptocurrency projects, McCaleb was also a key contributor to the rise of Mt. Gox and the platform was one of Jed McCaleb’s early projects in the cryptocurrency space. During the interview, McCaleb elucidated on the key-challenges faced by the exchange in its early days. He said, “One main like challenge with exchanges then and still today is just getting fiat, you know, on and off the exchange. Like, that’s kind of like, the roadblock for like how successful you can be and like how much money people can put through there, it’s just all like how much fiat you can deposit and withdraw.” He further said, “Like, that’s by far the main challenge and and that’s not a very fun one because you’re you’re dealing with like APIs of banks that are like old and crappy and like and you know or just like random like integrations to different payment networks and something that is just not very fun work” This was followed with McCaleb speaking about the solution the platform came up with in order to tackle the problem. He said, “We used PayPal Liberty Reserve I can I think there’s another one I think we would take bank wires yeah I think those are the three ways” The post Mt. Gox - Bitcoin exchange’s key challenge was getting fiat, says Stellar’s Jed McCaleb appeared first on AMBCrypto.

a day ago

Bitcoin Veteran Criticizes Calls For Block Size Reduction

Peter Todd, a Bitcoin veteran and a self-described Cryptography Consultant is not a fan of reducing block sizes. Todd has been a part of Bitcoin community since 2009 when the Bitcoin whitepaper came out. When asked about Bitcoin block size, he said it was a dumb idea to reduce it to 300 KB as it is a mere tweak at a high cost. He also added that the general community is not interested in it, and the social side makes it impossible. Todd expressed his interest in lightning network. At the same time, he was skeptical about it and not sure if it would work on a large scale. Bitcoin (BTC) is priced at $3,954.95, gaining 0.51% in the last 24 hours. (VS)

a day ago

Bybit Derivatives Exchange Launches Ethereum-Based Perpetual Contract

Bybit, a blockchain-based derivatives exchange platform has launched its second product, an Ethereum perpetual contract, just two months after it started its BTC/USD perpetual contract. According to the team, the new ETHUSD perpetual contract comes with leverage of 100x, functioning in the same way with the BTCUSD perpetual contract, processing 100,000 transactions per second (TPS). That’s not all; it also comes with a dedicated ether wallet for real-time withdrawals and deposits, a dual price mechanism, funding, as well as expert risk control mechanism. For the uninitiated, perpetual are new types of futures contracts that have no expiry date and are a part of the derivatives family. It’s worth noting that derivatives contracts offer users a chance to make profits from all market movements (bullish or bearish), depending on the position opened by the investor and it offers excellent leverage to multiply the profits earned from any given trade. Importantly, the Bybit team has also revealed that in a bid to get more day traders to sign up on the platform, it has added the Korean language. The Bybit Academy Also, as part of its entire development process, Bybit Academy, an arm of the firm that’s dedicated to teaching crypto day-traders how to be successful in their trade, plans to add more resources, including videos, articles, comics, analysis and more to its platform, to help newbies to build their knowledge and confidence they need to succeed in the derivatives world. About Bybit Headquartered in Singapore and registered in BVI, Bybit is poised to revolutionize the crypto space with its highly functional combination of cryptos and traditional financial services to offer clients a highly secure, fair and user-friendly trading platform. Seasoned blockchain investors founded Bybit and it is designed for both new, expert and institutional crypto traders alike. The firm’s R&D team is made up of experts from BAT, while their risk control and operations teams come from established firms like Morgan Stanley. Website: https://www.bybit.com/?regist_channel=PR2 Twitter: https://twitter.com/Bybit_Official LinkedIn: https://www.linkedin.com/company/bybit-fintech-limited/ Medium: https://medium.com/bybit The post Bybit Derivatives Exchange Launches Ethereum-Based Perpetual Contract appeared first on ZyCrypto.

a day ago


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