Status SNT

$0.0221
Market Cap $ 76.832 MM (#58)
24h Volume $ 24.777 MM
Chg. 24h: 5.13%
Algo. score 3.9/5  (#52)
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Status News

Ethereum Classic (ETC) May Decline Further But Future Prospects Are Bright

Ethereum Classic (ETC) is handing by a thread as price trades lightly above the 50 day moving average. This is the only thing between ETC/USD holding its ground and crashing hard to a new low in 2019. So long as Bitcoin (BTC) continues to stall a move to the downside, Ethereum Classic (ETC) is expected to do the same. In fact, if we see consolidation in the next few days, the price might actually take off towards $5 once again but any move to the upside will most likely be short lived and will be followed by a more aggressive move to the downside. Traders might want to wait before opening short positions but long term investors might start accumulating at current levels. Ethereum Classic (ETC) has been in the limelight recently for its aggressive Dapp development program thanks to ETC Labs. Previously, Ethereum Classic (ETC) used to be more of a “cult coin” with a small but dedicated community. The rest of the market did not care much about what happened to ETC and the only people invested in this cryptocurrency were mostly tech geeks who understood the project and believed in its vision and mission. However, recently, we have seen a trend shift that has seen more people flock towards Ethereum Classic (ETC) for its qualities of decentralization and immutability. The past few months of bear market have exposed some serious cracks in the inner workings of most blockchain projects which have made Ethereum Classic (ETC) more attractive from an investment standpoint. Chart for ETC/BTC (1D) The race towards decentralization has already begun. Binance just recently launched a beta version of its decentralized exchange. We have many other such exchanges operating with no problems so far. One decentralized exchange had a problem in the past which is why it is not as popular now. The thing is, the future belongs to a decentralized ecosystem in this industry. Projects like Ethereum (ETH), EOS (EOS) and Tron (TRX) are still massively centralized compared to Ethereum Classic (ETC). They are enjoying their current status in the market mainly because of their centralized nature. There are a lot of benefits to centralization from the project’s point of view. They can get more things done with little friction and they are in control most of the time. There also avenues for financial gains in such conditions so it is easy for such projects to climb ahead of others and enter the top ten league. However, centralization works both ways. If a company has built a fortune on a centralized ecosystem, it becomes too difficult to change its modus operandi. In other words, Ethereum (ETH), EOS (EOS) or Tron (TRX) will have a hard time becoming decentralized and immutable compared to Ethereum Classic (ETC). It would thus not be surprising to see Ethereum Classic (ETC) ahead of most of these coins in the decentralization arena in the near future. Experts believe that the next industrial revolution will have IOT (Internet of Things) at its heart. For machines to interact with one another in the absence of a centralized entity there has to be a blockchain capable enough of having a secure and stable blockchain that is also fast, cheap and scalable. We believe Ethereum Classic (ETC) is well positioned to be one of such blockchains.

3 hours ago

Co-Founder of Newly Launched ZBX Exchange Speaking at Stockholm Blockchain Forum

Sweden and the Nordics is home to an innovative start-up environment with a strong blockchain and crypto community. The Stockholm Blockchain Forum taking place on April 11th has now confirmed the presence of Jimmy Zhao from the recently launched crypto exchange ZBX to speak at the event. Although headquartered in Malta, ZBX is one of the few exchanges with a presence in Stockholm. On the 11th of April, Techbook is organizing the first Stockholm Blockchain Forum at the Stockholm International Affairs in Älvsjö. The event is bringing together blockchain experts from across the globe to network, forge new business relationships and educate traditional industries on how to implement blockchain technologies. The event is designed along the lines of an online forum brought into a physical space, a concept championed by the former CEO of Optimizer Invest, Carla Maree Vella. Emphasizing on establishing two-way communication at the event, Carla Maree Vella states: “What we are trying to do is to play a bit on the word ‘forum’. As we know in the world of the interwebs, a forum is where people communicate and share information and thoughts. A lot of the conferences I visited last year were very much one-way communication-style. The idea here is to be able to not only to listen to panels and keynotes, but to strategically involve delegates in the discussions through structured networking events and specialised exercises to pull questions out of the audience and have an expert panel discuss those topics.” The Stockholm Blockchain Forum is now announcing that Jimmy Zhao, Co-Founder and CMO of the recently launched cryptocurrency exchange ZBX will be speaking at the forum. ZBX, along with BTCX, is one of the few cryptocurrency exchanges with an office in Stockholm. Headquartered out of Malta, ZBX is also one among the first exchanges with plans on applying for a license to list Security Token Offerings (STOs). Commenting upon his participation at the Stockholm Blockchain Forum, Jimmy Zhao said: “I am delighted to join the stage at the Stockholm Blockchain Forum to delve deep into the complexities of the current market for cryptocurrency exchanges. Being based out of Stockholm myself, I hope to see many international guests joining us in this Nordic hub of innovation to partake in this forum.” The speaker line-up also includes prominent names such as Cherie Aimée, ranked as the sixth most influential woman in blockchain across the globe; Christian Ander, the Founder of BTCX and the initiator of the Swedish Riksbank digital currency project E-krona; Henrik Hjelte, Co-Founder at ChromaWay which is collaborating with the Swedish government to put property ownership registries on a blockchain; Aurore Belfrage, tech entrepreneur, political advisor and investor; as well as Frank Schuil at Safello, Sebastian Markowsky at GP Bullhound, On Yavin at Cointelligence, and Raoul Stubbe at Single Technologies among others. The agenda of the one-day conference features the topics Regulation, DAOs and Decentralized Governance, Banking and Blockchain, Centralised vs Decentralized Exchanges, Investing in Blockchain, Blockchain Applied to Business as well as a number of Thought Leader interviews. Companies are also welcome to present their own case study of a successful blockchain implementation during a one-hour session. The eve before the event is cordially inaugurated with a sponsored C-level dinner organized by the strategic partner Malta AI & Blockchain Summit. Delegates are expected to learn how blockchain can be implemented into particular business cases, in what ways it can be used to enhance customer and supplier relationships, ROI and operational efficiency, as well as the current status of the technology, regulation, feasibility of adoption and integration requirements. The Stockholm Blockchain Forum is a must-go for anyone who wishes to dive deeper into the actual use cases of blockchain and network with C-Suite professionals as well as some of the most innovative start-ups in the field. You can find all the information about the event here. The post Co-Founder of Newly Launched ZBX Exchange Speaking at Stockholm Blockchain Forum appeared first on AMBCrypto.

9 hours ago

Bringing Tokenized Apple & Facebook Stocks to the Bottom Billion on Blockchain

NASDAQ-powered DX Exchange (the world’s first Crypto Regulated platform for trading tokenized stocks) and Perlin (pioneering distributed ledger and decentralized cloud platform) are collaborating to empower millions of retail investors from the world’s poorest populations to own fractional shares in leading traditional stocks like Apple, Facebook and Tesla in digital “tokenized” form Singapore - Perlin Network and DX Exchange have announced a partnership to facilitate the entry of a vast new population of retail investors to both the traditional securities and cryptocurrency markets by enabling the trade of major stocks in digitized form on the blockchain. This “tokenization” of traditional assets is widely seen as the next great leap forward for global financial markets. Key benefits of tokenization include: 24/7 access to markets, greater liquidity to asset owners, lower transaction costs, faster automated settlement, augmented compliance check security, and a range of smart contract functionality yet to be fully explored. Importantly, tokenization will also enable fractional ownership of traditional assets - for example, an ownership interest in something less than 1 share in a company. Leveraging these advantages of tokenized assets, DX Exchange is the world’s first platform that allows investors to own and trade fractional interests in traditional stocks. By significantly lowering the high price barriers to entry for blue-chip stocks, this will empower a vast new population to retail investors (including those in the “bottom billion”) to actively participate in the global equity markets. Investors in rapidly growing developing economies around the world with low existing levels of equity ownership will now be able to make fractional investments in major securities including Apple, Facebook, Tesla, Microsoft, Amazon, Netflix, and a range of others. Although India and Indonesia (which together account for 20% of the world’s population) are among the world’s leading users for global companies like Apple and Facebook, investors from those countries still represent only a tiny proportion of share ownership in those companies. For context, around 50% of people living in the United States currently own stocks, while in India and Indonesia stock ownership sits at less than 1-2%. “Perlin is already actively working to create greater economic inclusion by providing a new stream of passive income for users on our distributed cloud platform in struggling communities around the world.” explained Dorjee Sun, CEO of Perlin, “We will further disrupt the status quo by aggressively leveraging our established networks in India, Indonesia and other emerging economies to support greater user adoption for DX Exchange - including by letting Perlin users to directly trade tokenized stocks on their groundbreaking platform.” Built on NASDAQ’s market-leading matching engine technology and surveillance technology, DX Exchange also enables cryptocurrency trading. Combined with tokenized stocks, DX Exchange will, therefore, facilitate the entry of a huge new population of individuals looking to rise above their economic situations via asset ownership and investment in a range of new and innovative digital asset classes. “We are incredibly excited to be collaborating with Perlin with its experienced business team, world-leading crew of developers, and disruptive distributed technology.” said Daniel Skowronski, CEO of DX Exchange, “Their mission to empower struggling communities globally lines up perfectly with our own mission to open up both traditional equity and emerging digital asset markets to people everywhere regardless of their socio-economic circumstances. Working together, we will be at the forefront of the growing decentralized movement for greater financial inclusion.” The post Bringing Tokenized Apple & Facebook Stocks to the Bottom Billion on Blockchain appeared first on ZyCrypto.

12 hours ago

Mercado Bitcoin lança aplicativo para iOS

Por: Livecoins O Mercado Bitcoin (www.mercadobitcoin.com.br) - maior corretora de criptomoedas da América Latina -, lançou ontem, 20 de fevereiro, o aplicativo para a plataforma iOS que permite que os usuários realizem transações de criptoativos com mais agilidade, de forma segura e prática. O lançamento faz parte da estratégia do Mercado Bitcoin de ampliar ainda mais sua liderança no mercado de criptoativos e faz parte de um plano de longo prazo para expansão das operações da corretora no país. Hoje são negociadas Bitcoin, Bitcoin Cash, Litecoin, XRP (Ripple) e Ethereum. “Depois do lançamento do app para Android, o iOS era uma das maiores demandas de nossos clientes. Passamos por um longo processo de validação junto a Apple, buscando garantir ainda mais segurança nas transações e agora trazemos mais este benefício para a nossa base de investidores”, explica Reinaldo Rabelo, Diretor do Mercado Bitcoin. O aplicativo oferece aos usuários a possibilidade de fazer consultas e transações com agilidade, de onde estiverem e conta com ferramentas como o Dashboard, no qual os usuários poderão consultar o saldo em reais e em criptoativos de uma forma rápida e fácil; os Gráficos, para acompanhar a variação dos ativos em tempo real; as Negociações, com fácil acesso ao livro de transações; as Ordens, onde o investidor poderá consultar o status das suas solicitações; Compra e Venda, para a negociação de criptoativos. O artigo Mercado Bitcoin lança aplicativo para iOS foi publicado originalmente em Livecoins.

a day ago

Spain's Largest Telecom Company to Trial Blockchain Consumer Data Marketplace

Spanish telecom giant Telefonica has announced plans to trial a blockchain-based platform that allows users to sell their private data. The decentralized data marketplace will permit individuals to sell “validated” private details for profit. Telefonica has consulted with decentralized marketplace provider Wibson and the telecom company will use the first trial to validate the authenticity of consumer data from users of Telefonica subsidiary Movistar in Uruguay. A press release from Wibson explained that “Telefonica will serve as a notary helping to verify Movistar subscriber status for consumers selling data through the Wibson marketplace.” Gonzalo Martin-Villa, Telefonica Group’s chief innovation officer, said testing the decentralized data marketplace could provide “the opportunity to add a trust layer to operations and design new disruptive services.” (RS)

a day ago

Roger Ver claims Bitcoin [BTC] maximalists have got Gold all wrong

Roger Ver never fails to stir up a storm within rival communities, this time riling up one of his favorite targets, the Bitcoin [BTC] community. Ver, who is also referred to as Bitcoin Jesus has continued his tirade against the top cryptocurrency since Bitcoin Cash [BCH] hardforked away from Bitcoin [BTC] in August 2017. In his most recent tweet, Bitcoin Jesus stated that the BTC camp gets the concept of one of the most stable assets in the world, Gold, wrong. He stated that the metal has a “huge amount of industrial uses,” and it is because of these very uses that Gold is considered a “store of value.” His tweet stated: “It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those other uses that enable gold to be used as a store of value.” Roger Ver failed to reference anything regarding the supply limitation of Gold, much like Bitcoin which is capped at 21 million. He claims that “those other uses,” give it the status of being a store of value. The implication from this tweet could be, besides an obvious attack on Bitcoin, is that the top-cryptocurrency does not have any “industrial uses,” and hence is one of the reasons BTC cannot be a “store of value,” or a medium of exchange. However, this implication was not explicitly mentioned by Ver in his tweet. Twitter users did not waste time and began lambasting Ver using the aforementioned supply cap argument. Mike Dudas, the founder, and CEO of The Block Crypto did not mince his words. He commented: “You and I both know that that is total horseshit — and I’m not a BTC maximalist, just someone with a normal amount of brain cells.” jratcliff63367, a game developer and software engineer at Nvidia, a Graphics Processing Units [GPU] manufacturer which is used in Bitcoin mining equipment, stated: “If gold were useful but also as plentiful as grains of sand, it would be nearly worthless. It’s not worth money because it’s ‘useful’, it’s worth money because it is scarce. BTW, Satoshi explained in detail how bitcoin mimics (and improves) upon the properties of gold.” Dr. Bitcoin [ß] commented: “No, it’s not. Silver and copper have many (more) industrial uses. That property is not what enables gold to be used as a store of value; its stock to flow ratio is. Regardless of how high demand is, amount of gold mined per year is predictably between 1-2% of total supply.” As far as stability goes, Gold being precious and, more importantly, a tangible metal will allow it to have more features of an asset striving to be a “store of value.” However, in terms of transferability, cryptocurrencies are more widespread. jratcliff63367’s second comment succinctly puts forth this argument: “It’s amazing that Roger doesn’t see the ‘industrial uses’ for bitcoin. The last time I tried to send an ounce of gold across the planet over the internet it didn’t work for me. Bitcoin does.” The post Roger Ver claims Bitcoin [BTC] maximalists have got Gold all wrong appeared first on AMBCrypto.

a day ago

4 Reasons You Should Implement a Kanban Project Management System

While Kanban is often associated with software development and IT projects, more and more people are realizing how implementing a Kanban system can have a positive effect on workflow, operation costs, quality control, and customer satisfaction. But for many, going Kanban might either seem intimidating, or they might not see the benefits of implementing it as part of their day to day operations. Let’s take a look at some of the biggest benefits of Kanban, and why you should consider implementing a Kanban system today. What is Kanban Actually? Before we touch on the many benefits of a Kanban system, let’s take a look at what Kanban is exactly and what it can do for your business. Toyota first introduced Kanban as part of their Toyota Production System back in the late 1940s. Their production system then led the way to lean manufacturing, whose main purpose was to minimize waste operations in production without sacrificing quality. It is also a more consumer-focused approach, as it uses a pull system to assign tasks based on actual consumer needs and concerns, instead of simply creating a product and releasing it to the market. Kanban literally translates to “visual signal” or “sign board”. A classic Kanban system such as Kanbanize will consist of a board with a minimum of three columns: Requested, in Progress, and Done. Kanban cards with specific tasks are then pulled through every step until the task is completed. But note that you don’t have to use a physical Kanban board to implement a Kanban system; there are plenty of software solutions that allow you to create elaborate Kanban boards with multiple columns and detailed digital Kanban cards. They will also have advanced analytical tools that will allow you to quickly identify bottlenecks and work towards continuous improvement. Now let’s take a look at the many benefits of Kanban project management and why you should consider it in your line of business. Kanban Allows you to Visualize Workflow Meeting deadlines and managing resources is a challenge all project managers have to face. And this is especially the case for large organizations or when working on complex, drawn-out projects. Kanban allows you to simplify your production planning and put it in visual form through a Kanban board, electronic Kanban signals, and Kanban cards. You’ll also be able to use value stream maps to assess your Kanban needs. This allows workers to easily see where the production plan is at all times, very fast, by taking a look at the visual Kanbans. With Kanban, you’ll be able to manage your tasks more efficiently. You’ll be able to see exactly how tasks are moved through different stages and you won’t have to deal with things like progress reports or memos. This will make it much easier for you to make changes and judge progress. Your workers will have real-time updates on any changes to any tasks or instructions. It also allows project managers to manage multiple teams at once and quickly identify roadblocks or bottlenecks along the way. In addition, Kanban tools will ensure that everyone on the team is conscious of the project’s status and progress at all times. The status of the tasks will be displayed in real time, whether a new task was just added or recently completed. Kanban Facilitates Real Teamwork Kanban and Agile management revolutionized the way task management was performed. Managers used to simply give certain team members or department tasks and then follow up periodically to check on progress. But with Kanban, teams can truly work together in synergy without project managers having to constantly check on every task. Kanban tools today come packed with a variety of communication tools that allow members to overcome obstacles and share ideas in real time. This not only creates an ‘open door’ environment but it eliminates barriers between different levels of management and teams. And team members will also be encouraged to provide more input as more members start asking questions and updating tasks. Kanban also facilitates collaboration and allows whole teams to brainstorm, complete tasks, and delegate much more easily and efficiently. This is why Kanban can be a valuable tool for big teams working on large projects who want to share resources, knowledge, and ideas more freely. Reduces Overproduction Risks Keeping inventory can be a real challenge in today’s fast-moving marketplace. Trying to keep track of inventory can be almost impossible in this day and age, depending on your sector. Kanban will allow you to focus on customer demand first and foremost and limit the risk of you having to deal with old inventory. If you can manage to only produce what you need and not focus strictly on production planning, you’ll be able to reduce waste and nearly eliminate inventory risk. Kanban Makes your Workflow more Transparent Anyone who’s had to manually enter tasks through a spreadsheet will know how easy it is to lose track of a project’s overall progress that way.

a day ago

Cryptocurrency adoption in 2018/2019

2018 was a rough year for the cryptocurrency markets. The price of Bitcoin and the altcoins tumbled by more than 80%. That in itself is not good news, but remarkably it has not stopped the growth of cryptocurrency adoption. Leading companies in crypto have been building and making acquisitions during this long crypto winter, institutions have been showing more and more interest and governments are starting to play a more active role in cryptocurrency regulations. This, it seems, is just the beginning. Ways in which cryptocurrency adoption is growing Investment companies investing in crypto In a recent show by Ran NeuNer of CNBC’s Crypto Trader, it was revealed that companies are investing in the cryptocurrency space - just not in the same way as crypto traders. Companies and institutions are investing in blockchain companies, not necessarily in coins or tokens. Businesses are a key componenent in any economy, and businesses looking to adopt is massive news. Top Universities offering blockchain courses and investing in crypto Top universities have been embracing blockchain technology and starting to offer courses touting blockchain as the 4th industrial revolution. Endowment funds of top American universities have reportedly made investments in cryptocurrency funds. Just last year universities with the prestige of Harvard University, Stanford University, Dartmouth College, and Massachusetts Institute of Technology (MIT) invested millions of dollars into blockchain and crypto funds. Retirement funds investing in crypto Canada has a Bitcoin fund, the FBC Bitcoin Trust which was grunted mutual fund trust status allowing to invest via retirement accounts and other government-registered accounts. Meanwhile, American pension funds are starting to invest in blockchain and cryptocurrencies through investment firm Morgan Creek Digital who have crypto-focused hedge funds. You can read the statement released by the Fairfax County’s Retirement Systems (FCRS) in the state of Virginia pertaining to their investing in blockchain here on their website. Countries recognising crypto Indonesia recently introduced new legislation recognising Bitcoin as a commodity, this new legislation led to Bitcoin volumes doubling in the country on the peer-to-peer platform local Bitcoins. Sometimes it’s the citizens that recognise crypto, for example, Bitcoin trading volumes have been increasing in Venezuela because of their countries economic turmoil due to hyperinflation. Since their people can no longer depend on their local currency, they have turned to Bitcoin. According to peer-to-peer platform, Paxful Nigeria and Ghana, Bitcoin volumes have been growing despite the crypto winter. They managed to triple their Ghanaian user base and double their Nigerian customers in 2018. It is becoming clear that citizens of third world countries definitely see a use case in crypto even if their governments have not caught up yet in terms of regulation. Growing number of Bitcoin ATMs The number of Bitcoin ATMs around the world doubled last year despite the bear market. It’s estimated that 6 new devices are installed everyday around the world with over 4000 bitcoin ATMs now active around the world. New 24/7 television news channel dedicated to crypto Up until recently, CNBC’s Crypto Trader has been the crypto markets only dedicated television show covering the cryptocurrency space. Now, new blockchain focused channels are popping up. BlockTV, is a new tv channel fully dedicated to bringing blockchain technology news 24/7. All these adoption trends are signs that people believe crypto is here to stay. Many companies are using this crypto winter to build their platforms in preparation for mass adoption that is expected in what is called the 4th industrial revolution. These signs might oppose the value of Bitcoin, but they seem to be a telling a very different, much more exciting story. The post Cryptocurrency adoption in 2018/2019 appeared first on Coin Insider.

a day ago

US Counsel Hints Bitwise & VanEck bitcoin ETF proposals On SEC’s Way

Bitcoin ETF, the very hot topic since late 2018 is on way to SEC’s final decision. According to the latest SEC’s announcement and the tweet by Jake Chervinsky who serves as Defense Counsel in the U.S hints that SEC’s decision for pending Bitwise and VanEck Bitcoin ETF is near - the countdown begins. To remind, the VanEck Bitcoin ETF was filed in conjunction with CBOE (Chicago Board Options Exchange) and resubmitted to SEC with few amendments in late Jan 2019. On the other hand, the Bitwise Asset Management’s ETF was filed with NYSE Arca and published the proposal in the Federal Register on Feb 15, 2019. However, SEC didn’t respond to any ETF yet, in fact, it had asked to withdraw ‘Reality Shares’ its ‘partial-bitcoin ETF’ a day after submission. Furthermore, in the history of ETF until today, there’s no definite decision from SEC - but this time, the team has recently announced via ‘Federal Register’ that ‘BitWise and VanEck’ ETF proposals are under review. Means that on Feb 20, 2019, SEC announced that initial decision on ETF is on way and they have also initiated ‘countdown of 45 days’ to decide - whether the approval, rejection or extension. In a similar regard, Jake Chervinsky - who quite often shares the status on SEC’s decision towards important crypto assets and proposals including ETFs - took to Twitter, notifying the sequel update as ‘the clock is running on ETF proposals’. His tweet goes as follows; The clock is running on the new Bitwise & VanEck bitcoin ETF proposals. The SEC's current deadlines are April 1 for Bitwise & April 6 for VanEck. Remember, the SEC can & likely will delay up to three times. The absolute final deadlines to watch are October 13 & 18 respectively. — Jake Chervinsky (@jchervinsky) February 20, 2019 Counting the initial 45 days after the proposal formally published in the ‘Federal Register on Feb 20, the response would be expected to reveal after March 13. Furthermore, the US SEC would take another three weeks (ie. Expected April 5) to announce its decision. Notably, Jake clarified the SEC’s current deadlines for Bitwise is April 1 and for VanEck is April 6. At the moment, any comment from both the firm is still not made public - stay tuned with Coingape to know more what would likely happen with ETF before the SEC finally revealed its decision. The post US Counsel Hints Bitwise & VanEck bitcoin ETF proposals On SEC’s Way appeared first on Coingape.

a day ago

South Korean Blockchain Enterprise ICONLOOP Attains Advanced Technology Partner Status in AWS

According to a report, ICONLOOP, one of the biggest South Korean blockchain firms, has achieved the Advanced Technology Partner status in the Amazon Web Services (AWS) Partner Network. Following the attainment of the Advanced status, ICONLOOP is now eligible for joint AWS customer-facing webinars, an AWS-written case study, and access to business opportunities. (VK)

2 days ago

ICONLOOP achieves Advanced Technology Partner status in AWS

ICONLOOP, one of the largest blockchain enterprises in South Korea, has just announced that it has achieved Advanced Technology Partner status in the Amazon Web Services (AWS) Partner Network (APN). With Advanced status, ICONLOOP is going to be eligible for preferred access to business opportunities,... Source

2 days ago

Crypto Entrepreneur: Every Day Bitcoin Doesn’t Die, Trust Is Gained

Bitcoin Has Yet To Establish Public Trust Dominik Weil, an entrepreneur living in Vietnam, recently took to a local crypto conference to gain insight regarding attendees opinions on Bitcoin (BTC). According to Weil, who founded a number of Vietnamese cryptocurrency exchanges and startups, BTC has yet to garner notable amounts of public support. He claimed that when panelists asked the audience whether they would lock up $1 million in fiat/bank, Bitcoin, and gold, a resounding majority chose the far latter, “apart from one confused fiat maximalist.” Weil accentuated that while this shows BTC still needs to gain traction in the public’s eye, Vietnam’s mom & pop investors have already lost long-term faith in the legacy financial system for the most part. Interesting observation from a panel discussion in Vietnam around the status of the "crypto" market: On the question if audience would want to lock up a gift with the value of 1m USD (2019 USD value) for the next 10 years either in: 1) Fiat / Bank deposit2) Gold3) Bitcoin — Dominik Weil (@DominikWeil) February 18, 2019 This arguably sets a solid precedent for the cryptocurrency, which Weil claims few actually know about in-depth, as Bitcoin’s benefits (non-sovereign, digital, decentralized, non-censorable, supply capped, among other things) over gold could eventually allow it to get a leg up on the precious metal. Weil acknowledged this himself, writing: SoV is exactly the reason why there remains tremendous upside in the long-term. Every day Bitcoin does not die - more trust with the public is gained. This facet of the crypto participant’s comment comes after Spencer Bogart of Blockchain Capital said something similar on Bloomberg TV. As reported by Ethereum World News previously, Bogart argued that the longer Bitcoin stays alive, the less unknown and the more trusted it becomes with the consumer population Bitcoin Is (Will Become) Digital Gold Weil isn’t the only industry insider who believes that Bitcoin has the potential to become a form of digital gold over the long haul. Mike Novogratz, the CEO of crypto merchant bank Galaxy Digital holdings, recently noted that just as each element corresponds to a single position on the periodic table, Bitcoin is the only viable store of value in the entire crypto asset class. The former Goldman Sachs partner even noted that Bitcoin’s slow block times and low transactional throughput just accentuate that it is like gold, likening storing the flagship cryptocurrency to how precious metals are kept in Fort Knox. Barry Silbert also threw in his hat on the matter. The Digital Currency Group founder recently noted that Bitcoin has already won the digital gold race. Citing anecdotal evidence, Silbert explained that when millennials are clamoring for a store of value, they’ll turn to the cryptocurrency, not gold. He even commented that the fiat currently situated in gold bars will eventually find their way to Bitcoin, especially due to the digital asset’s decentralized, secure, and non-sovereign characteristics that give it a leg up over precious metals. Former Blockchain product manager Dan Held once even embarked on a rant to underscore his belief that Satoshi never meant for Bitcoin to inherently be digital cash, but a store of value that transcends traditional boundaries. In a sweeping 47-part Twitter thread, Held noted that Satoshi him or herself mentioned gold, long-term value growth, Bitcoin’s status as a commodity, and even scarcity. This led the businessman to conclude that the pseudonymous developer didn’t intend for the first iterations of Bitcoin to be used actively in day-to-day life. This was far from the end of Held’s argument. The co-founder of crypto asset manager Interchange drew attention to the network’s cardinal commandments — 21 million BTC supply cap, ten-minute blocks, and block size caps — claiming that Satoshi could have altered these values to push the digital money narrative. But the cryptocurrency godfather didn’t. Title Image Courtesy of Descryptive.com Via Unsplash The post Crypto Entrepreneur: Every Day Bitcoin Doesn’t Die, Trust Is Gained appeared first on Ethereum World News.

2 days ago

Japanese Bank Head Endorse Ripple (XRP) says Bitcoin (BTC) Has no Value

Ripple price trajectory is up Yoshitaka Kitao endorses Ripple (XRP) Transactional volumes on the rise SBI Holdings and Yoshitaka Kitao are Ripple (XRP) proponents and believe the coin will somehow revolutionize cryptocurrency. Anyhow, with the launch of SBIVC expected in weeks, our previous XRP/USD trade plans will be validated. Ripple (XRP) Price Analysis Fundamentals Sometimes, the head of SBI Holdings Yoshitaka Kitao may appear over-optimistic about Ripple and XRP abilities to revolutionize crypto. SBI Holdings anchors and is the nucleus of Ripple activities in Asia. As the majority holder of SBI-Ripple Asia alliance, they have been promoting adoption in the crypto-active region. March is when the SBIVC exchange will launch and with XRP paired against the Japanese Yen, we expect an immediate effect on price. However, the real impact is projected to be in August when adoption will be center stage, and there will be regulatory clarity on the status of XRP as a token. Add this to SBI Holdings plans of supporting Ripple Inc and aid in their ambition of driving the coin to new heights. Bullish signals are flashing. Here is what Yoshitaka Kitao said: “Under these circumstances, we will promote efforts to expand the practical use of virtual currency like XRP more and more. Also, on the other side, we will provide investment instruments incorporating virtual currency into institutional investors.” He continues, adding that BTC is expensive and XRP is designed for global cross border payments because it is cheap and settlement is almost instantaneous: “There is basically no value for Bitcoin. The current price of Bitcoin makes it harder and harder to use in practical ways. So I think that XRP will probably become the number one crypto asset. We are aiming to make that happen.” Candlestick Arrangements The path to a possible BTC-XRP flip is long if not next to impossible. At current valuations, XRP is more than 4.5 times more valuable than BTC, and if Kitao comments are valid, then XRP is grossly undervalued. The third most valuable coin is now changing hands at 33 cents and up 7.1 percent in the last week. While BTC and ETH are posting huge gains from last week’s close, XRP is struggling against bears and consolidating in lower time frames. Because of this, our XRP/USD trade conditions are not yet true and risk-off traders ought to hold off from executing longs despite high-volume bull bars trending below 34 cents. It is only after a full bar close above 34 cents is when traders can load up on dips with first targets at 40 cents and later 60 cents. Technical Indicators Encouragingly, transactional volumes are increasing, and XRP is expanding as a result. In the last few days, averages have risen from 15 million of Jan 29 to 22 million posted yesterday. However, as aforementioned, we need strong market participation driving prices above 34 cents with volumes above 52 million or 83 million of those of Jan 10. The post Japanese Bank Head Endorse Ripple (XRP) says Bitcoin (BTC) Has no Value appeared first on NewsBTC.

2 days ago

Once again, great work from the all teams who worked on the ...

Once again, great work from the all teams who worked on the Status Bounty Track at @EthereumDenver Check out our… https://t.co/xIFLkEpU3H

2 days ago

Bahrain Considers Digital Regulation and Launches Sandbox for Crypto Firms

Bahrain is recovering its status as the Middle East’s financial hub by introducing regulation laws for crypto companies, letting them work for a trial period

2 days ago

State of Stablecoins 2019 Report: ”A Giant Educational Resource”

Published today, 20 February 2019, a new report into the state of stablecoins shows the most popular blockchains they have been built upon, their most popular use cases and how the companies behind them view regulations. The findings of the State of Stablecoins 2019 Report have been compiled from responses to a survey that was issued to all companies that are actively working on stablecoin projects. Over 40 of these companies responded to this request, with the report notably boasting contributions from emerging thought leaders in the industry such as Nevin Freeman, CEO of Reserve, Jonas Karlberg, CEO of AmaZix, and Michel Rauchs of the University of Cambridge. Bitcoin News also caught up with the lead author of the report, blockchain analyst George Samman , who shared just how important he believes stablecoins will be for the future of money. Key findings Note: These responses pertain to 38 tabulated surveys. Some participants declined to answer certain questions; these responses are not included. 68.4% (26) of the stable coins were built on the Ethereum blockchain, Stellar was the second most popular choice with 7.9 % (3) choosing its native blockchain. 52.6% (20) aimed to be a currency, store of value, or medium of exchange. Transparency was the top factor influencing market confidence, claimed 34.2% (13) of respondents. 36.8% (14) viewed the related industry regulations favorably. While acting like a currency, store of value, or medium of exchange was the most popular target use for the surveyed stablecoin companies, other projects said they were looking to offer a variety of alternative financial services, including the provision of a credit or loan facility, trading facility wage options and facilitating gold trading. One in three of the surveyed participants regarded regulations favorably, with some saying they believe stablecoins will likely be viewed more favorable than conventional cryptocurrencies in this regard. A number of the companies had already successfully achieved a fully compliant status, although 13.2% (5) had an unfavorable view of regulations altogether, saying self-governance and complete decentralization where crucial for the nascent industry. A common view between these groups, however, was the need for clarity in regulatory oversight The report takes several examples of failing fiat currency, focusing on the cases of Venezuela and Angola, to highlight why stablecoins can take their place as a successful alternative to the failings of monetary policy. 5 main factors are given to illustrate the weaknesses of fiat not only in these cases but with government-issued currencies on a macro scale: 1) it is backed by nothing, 2) there is a centralized authority controlling interest rates and the money supply, 3)unsustainable global debt levels, 4) unfunded liabilities and 5) military spending. The paper also acknowledges several of the weaknesses attributed to the different categories of stablecoins. IOU insurance, or real asset-backed stablecoins, require a third-party custodian to secure the physical reserves, also requiring strong regulatory oversight to ensure transparency. Crypto-collateralized stablecoins can have high volatility, with their longevity dependent on the performance of said cryptocurrency. They are also vulnerable to hacks as the collateral rests on the blockchain. Seigniorage shares, or non-collateralised stablecoins, remain highly controversial, with the highest vulnerability to cryptocurrency market crashes, with liquidation not possible during these periods. Stablecoins: taking over money as it stands today First setting up the context of the report with a brief history of money and why it has become an unstable concept for many regions, the report continues on to discuss the retaliatory rise of cryptocurrency and stablecoins, noting the different types of stablecoins and how the space is developing. Many of the projects that are building different categories of stablecoins are surmised, with much of the content collected from the surveys cited within the report. Sammon relayed to Bitcoin News largely optimistic feedback regarding stablecoins from the contributing sources, saying many were “intrigued with the concept”. When asked why it is so important to better understand stablecoins, the author responded: “Money systems are broken in many parts of the world. Many governments have lost control of their monetary policy and it has destabilized countries and reduced their wealth... Inflation and hyperinflation are more common than people think and having a stable and transparent money option can solve a lot of problems for those afflicted by bad monetary policy.” Sammon believes this failure of the state has given non-government issued currency and stablecoins the ideal opportunity to offer an alternative solution. Although there has been a great interest in stablecoins in the past year with several dedicated reports already having been published, Sammon says the

2 days ago

Tesla Founder Elon Musk Believes that Bitcoin is Better than Paper Money, and Here’s Why

CoinSpeaker Tesla Founder Elon Musk Believes that Bitcoin is Better than Paper Money, and Here’s Why The community of those predicting great future of cryptos has welcomed a new member. Elon Musk, founder and CEO of Tesla and SpaceX, has officially confirmed his belief in digital currencies and said that cryptos provide a better alternative to conventional money. On February 19, Musk had a podcast interview with investment firm ARK Invest. He spoke about future plans and strategies of his companies, discussed the development of virtual coins and shared his own view on cryptos, Bitcoin in particular. According to Musk, Bitcoin has “quite brilliant structure”. He said: “It [crypto] bypasses currency controls. ... Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.” However, his companies are not yet involved in using and applying this technology. Musk explained that by high energy intensity of cryptos. “One of the downsides of crypto is that computationally it is quite energy intensive. So there have to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create the incremental Bitcoin at this point.” Further, Elon Musk said: “It would not be a good use of Tesla resources to get involved in crypto. We’re just really trying to accelerate the advance of sustainable energy.” Musk’s Twitter profile was used several times by scammers who tried to create crypto give-away schemes. Musk noted such development and made the following remark: “Bitcoin and ethereum scammers were so rampant on Twitter I decided to join in and I said at one point wanna buy some bitcoin?” Anyway, Musk supports cryptos’ development and believes that they can change the financial world. Cryptos To Get A Strong Army Of Admirers The world can be divided into two parts: those who show skepticism about blockchain and cryptos and that’s why take the crypto winter for granted, and those who are sure that cryptos own great potential and are worth to bet on. Among the latter are many eminent investors and public figures. For example, a billionaire Tim Draper is very brave in his judgments. He said that fiat will lose its dominant status, as cryptos are safer and more trustworthy. Draper shared his opinion: “The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.” Institutional investors are also starting to explore the crypto industry. Recently, Grayscale Investments published the 2018 annual report that demonstrates an increase in Bitcoin investment despite the long-lasting bear market. The report shows that investments in Bitcoin products have increased, and it is notable that the number of institutions interested in such investments has also increased. Moreover, there is an opinion that cryptos can be a long-term and profitable investment for institutions, that’s why they should explore this industry. Another good news for crypto enthusiasts is the recent market recovery. As we have recently reported, the crypto market is showing good signs of revival, with the overall cryptocurrency market cap surging by over $15 billion. On February 19, Bitcoin surged by 5.09%, approaching $4,000 per coin. Other currencies have also shown a good result, with Ethereum increasing by over 10%, XRP gaining 8%, and EOS surging by 20%, which made its spot in the top five cryptocurrencies beating the likes of Bitcoin Cash and Litecoin. Tesla Founder Elon Musk Believes that Bitcoin is Better than Paper Money, and Here’s Why

2 days ago

US Commodities Trading Commissioner Suggests Self-Regulatory Crypto Approach

The US Commodities and Futures Trading Commission (CFTC) seems to be considering a self-regulatory approach towards cryptocurrencies as commissioner Brian Quintenz has brought up the idea of self-regulation in a first. Quintez said that the members of the crypto community could create a self-regulatory structure during a Bipartisan Policy Center panel. More specifically, Qunitenz believes that the US CFTC’s lack of crypto statutory oversight capability left some room for the cryptocurrency community for a self-regulatory effort. He believes that “platforms come together to form some type of self-regulatory structure where they can discuss, agree to, implement, and hopefully examine or audit”. Quintenz hopes that such a self-regulatory organization can carry out necessary audits in areas of self-interest, business conduct, liquidity status and much more. However, he also poured cold water on the issue of CFTC or other regulator allowing the authority of such a body because he stated that “a self-regulatory organization is specifically chartered by the US Congress through the law”. So, while Congress remains undecided on the matter, it may be some time before we can see an actual regulatory effort from the crypto industry. While CFTC is one of the few federal regulators that have been legally allowed to regulate the cryptocurrency space, it is good to see the one member believing in a self-regulatory effort similar to Japan’s successful one with the Japanese Virtual Currency Exchange Association (JVCEA). Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: pixabay.com The post US Commodities Trading Commissioner Suggests Self-Regulatory Crypto Approach appeared first on BitcoinNews.com.

2 days ago

South Korean Lawmakers: Blockchain-based Overseas Remittance Service Could Relax Citizens

According to Money Today, the south Korean government and the Democratic Party of Korea (CDP) held a party-government meeting Today to discuss the status quo and plans to advance the regulation of sandbox among lawmakers involved. One of the MPS stressed that overseas remittance services based on blockchain technology can greatly reduce service fees, which is a use case where the citizens can benefit from the relaxed regulatory environment. (RL)

3 days ago

Survey Ranks South Africa Top for Cryptocurrency Ownership

South Africa has been ranked as the top country for ownership of cryptocurrency, according to a global survey by social media management company Hootsuite and global agency Wearesocial. The survey found that 10.7 percent of internet users in the country own cryptocurrency. Thailand is second, with 9.9 percent of mobile users owning cryptocurrency and Indonesia third with 9.5 percent, while the global average was 5.5 percent. Also read: Drug Dealer Fights to Prevent Canadian Police From Forfeiting his BTC Africa Steadily Embraces Cryptocurrency The Global Digital Report 2019 also placed other sub-Saharan African countries such as Ghana and Kenya within the top 45 nations in the world where a large number of people owned cryptocurrency such as bitcoin. The results were based on the survey of internet users aged between 16 to 64 years during the six months to September 2018. The survey confirms that Africa has embraced the digital currency revolution. A growing number of people on the continent are utilizing cryptocurrency to fulfill both personal financial needs and entrepreneurial ventures such as transferring goods, services and money internationally and domestically. There is also an emerging generation of Africans buying virtual currencies as investment vehicles, while a relatively small number of Africans trade digital currencies speculatively for profit. In, 2018, Paxful Inc., a peer-to-peer bitcoin exchange, reported seeing significant growth in Africa. The U.S.-based company said Africans now accounted for the largest number of people buying and selling cryptocurrency on its platform, with average monthly transactions totaling $64.5 million. Over the past year, users from the African continent of 1.2 billion people soared by 225 percent, Ray Youssef, chief executive officer of Paxful, said. Transactions on the exchange climbed 60 percent in Nigeria, Africa’s biggest economy, 25 percent in South Africa, the continent’s most sophisticated economy, and by up to 100 percent in other parts of Africa. South Africa Consults on Crypto Regulation The top ranking for South African cryptocurrency ownership comes at a time when monetary authorities in the country have asked the public to make submissions on policy and regulatory proposals for crypto assets like bitcoin. There is currently no regulation for cryptocurrencies in South Africa, a situation which has prompted the South African Reserve Bank (SARB) to come up with measures that provide legal protection or recourse to investors and users. Whereas the rest of the South African financial system is tightly regulated to prevent issues of market failure, the crypto market isn’t, SARB said. In its policy paper, the central bank makes several proposals including leaving crypto-assets without legal tender status, so as not to recognize them as electronic money. The document also recommends that an appropriate regulatory framework be developed through a registration process for crypto-asset service providers. It also proposes a review of existing regulatory frameworks followed by new regulatory requirements or amendments to existing regulations. “The phased approach, starting with the registration requirement, could lead to formal authorization and designation as a registered/licensed provider for crypto asset services operating in South Africa at a later stage,” states the central bank. What do you think about growing cryptocurrency ownership in Africa? 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 Survey Ranks South Africa Top for Cryptocurrency Ownership appeared first on Bitcoin News.

3 days ago

Could Bitcoin ETN’s Large Premium to BTC be a Sign of Institutional Buying?

Over the past year discussions of a Bitcoin ETF being approved by regulatory authorities in the US has dominated the news cycle and has even - on multiple occasions - impacted the markets. Many investors and analysts believe that the approval of a BTC ETF will lead to an influx of investors as it would place the cryptocurrency in front of all traditional equity investors. Although the status and potential effect of a Bitcoin ETF remains unknown, there already exists and exchange-traded product that allows investors to add some exposure to Bitcoin’s price through the form of an Exchange Traded Note (ETN). Bitcoin ETN Trades at Large Premium to BTC The Grayscale Bitcoin Trust (GBTC) is a popular ETN that allows traditional investors to gain some exposure to the daily price movements of Bitcoin without actually owning the underlying asset. Grayscale describes their product as “the first publicly quoted securities solely invested in and deriving value from the price of bitcoin” that allows investors to “gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins.” Each share of GBTC trades at approximately 1/1000th of Bitcoin’s actual price and is currently trading at $4.82 per share. This means that GBTC is valuing one BTC at $4,820, which is significantly higher than Bitcoin’s current price of under $4,000. Thomas Lee, the co-founder of Fundstrat Global, pointed out this premium in a recent tweet, hypothesizing that GBTC’s premium to BTC’s net asset value (NAV) is a sign of institutional buying, as purchasing GBTC is easier than purchasing BTC through a cryptocurrency exchange for traditional investors. “CRYPTO: $GBTC premium to NAV creeping up to 36% on heels of $BTC surge to ~$4,000... Rise in premium is a sign of institutional net buying (easier to buy this ETN from @GrayscaleInvest than buy via a crypto exchange) ... another sign 2019 way better than 2018 for crypto,” he explained. CRYPTO: $GBTC premium to NAV creeping up to 36% on heels of $BTC surge to ~$4,000 Rise in premium is a sign of institutional net buying (easier to buy this ETN from ⁦@GrayscaleInvest⁩ than buy via a crypto exchange)... ...another sign 2019 way better than 2018 for crypto pic.twitter.com/hdFh8y3sY9 — Thomas Lee (@fundstrat) February 19, 2019 Although GBTC doesn’t entitle buyers to Bitcoin - the underlying asset it tracks - it does allow buyers to get in on some of its volatility in an easy to access fashion. Is Growing GBTC NAV Premium Actually The Result of Institutional Buying? On February 17th Bitcoin’s price surged after briefly dipping towards $3,600, and is now pushing up against $4,000, which has proven to be a level of resistance. BTC’s price has surged over the past couple of days. Historically, GBTC’s premium grows whenever BTC experiences price surges, and drops whenever Bitcoin’s price drops. With this being said, it appears that GBTC historically exaggerates Bitcoin’s sentiment shifts, which does not serve as strong support for Lee’s theory regarding the growing premium being the result of institutional buying. Furthermore, Lee’s assessment of GBTC’s current NAV premium is exaggerated, as Bloomberg notes that GBTC’s current premium is just under 19%, while its average 52-week premium is nearly 40%. Lee addressed this in response to a comment on his original post, noting that a 20% NAV premium does appear to be more accurate. Hmmm. Actually more favorable — Thomas Lee (@fundstrat) February 19, 2019 With that being said, although it is possible that institutions are trading the cryptocurrency via GBTC, there is little evidence of this and its current price premium is nothing extraordinary. At the time of writing, GBTC is trading up nearly 15% from its opening price, while BTC is only trading up 1.5% over a 24-hour trading period. Featured image from Shutterstock. The post Could Bitcoin ETN’s Large Premium to BTC be a Sign of Institutional Buying? appeared first on NewsBTC.

3 days ago

Indonesia Legalizes Cryptocurrency as Tradable Asset

Crypto can now be traded legally as a commodity in Indonesia thanks to a new regulation that grants it this new legal status, as reported by KrASIA, February 15, 2019. Let the Trading Begin The crypto community in Indonesia has scored a huge coup as crypto exchanges are now legal in the country. As perRead MoreRead More. The post by Tokoni Uti appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

3 days ago

Bitcoin Surged Past $3,900 But it May Be Too Early For the Crucial $4,000 Level

For the first time in a blue moon, the crypto market underwent a notable rally. Since Ethereum (ETH) bulls began to show signs of life on Sunday, with the cryptocurrency rallying past $130, Bitcoin (BTC) and other digital assets have followed close behind. As of the time of writing, BTC has found itself at $3,920, approaching the ever-important level of technical and psychological resistance at $4,000. Ether has neared its $150 mark, as ETHDenver and the upcoming Constantinople hard fork have seemingly given the asset a slight boost. A majority of other cryptocurrencies have also posted notable gains, which comes after a ten-day lull in this budding market. Gains across the board, which were backed by a staggering $34 billion in daily nominal volume, have allowed the aggregate value of all cryptocurrencies to swell from $120 billion on Sunday morning to $133 billion currently — a gain of a jaw-dropping 10% in under 36 hours. Related Reading: Bitcoin Surges Nearly 10%, Analyst Claims BTC Likely to Target Mid-$4,100 Region Next While some optimists have called further short-term highs from here, analysts have remained cautious, predicting short-term pullbacks. Analysts Expect Bitcoin Pullback Financial Survivalism, a full-time crypto trader that recently called for BTC to bottom at $1,165, noted that the cryptocurrency peaking just shy of $4,000 was likely the end of yesterday’s run. The self-proclaimed “financial revolution prepper” explained that the four 15-minute and nine 15-minute exponential moving averages (EMAs) recently underwent a “bearish crossover,” leaving BTC below it. That might have been the end of today's run. 4 & 9 EMA's recently made bearish crossover with price below. $BTC is +8% in the last 24 hours. For the most part 8% - 10% is the most it likes to move in one day. I'm expecting pullback to $3,750 before retesting $4,100 - $4,200. pic.twitter.com/NhheoSu6XB — Financial Survivalism (@Sawcruhteez) February 18, 2019 Considering Bitcoin’s propensity to undergo a 10% rally or drop in a day’s time, rather than anything more, coupled with the status of short-term EMAs, Survivalism concluded that a pullback to $3,750 could be a possibility to precede a rally past $4,100. David Puell, a lesser-known, yet well-respected trader, also remained skeptical in the very short-term. Puell noted that as it stands, BTC is currently trading in a bull trap pattern, and could be eventually pushed down by a declining trendline, along with the 30-week moving average. $BTC: If we get there, beware the bull trap, lads. Lots of work yet to be done. pic.twitter.com/R9jpiGMK02 — David Puell (@kenoshaking) February 19, 2019 Puell also noted that the fact that weekly volumes are in a downtrend should have investors worried, as this could indicate that there is little propping up the crypto market as is. Does This Crypto Rally Have Legs? While the aforementioned analysts seem to be convinced that a short-term pullback would be in order, some argue that Bitcoin still has legs to run on. The team at Bitcoin Bravado, a leading crypto-centric technical analysis outfit, recently divulged that due to the influx of volume seen Sunday and Monday, along with the fact BTC surpassed its 50-day EMA, this move could see further upside. After failing to retake the 50-day EMA for over 3 months, $BTC has blasted through with nearly double the daily volume of any other day in 2019. Based off the influx of volume, we think this move has a lot more legs. pic.twitter.com/kpAKtVnHMk — Bravado® (@BitcoinBravado) February 18, 2019 Mati Greenspan, eToro’s in-house crypto researcher, echoed the idea that the notable levels of volume should have investors enthused. In a recent Twitter thread, Greenspan noted that a “very healthy sign” is that the recent market price action was catalyzed by “strong volume,” adding that this means this move is likely “more meaningful” than the sporadic pumps seen historically. Although some would claim that it’s too early to be bullish from a medium-term (or longer) standpoint, Monday’s move has already convinced some that bears are preparing for hibernation. Trader Mayne, a long-time cryptocurrency trader, noted that as there have been notable bullish moves over recent weeks, it wouldn’t be nonsensical to claim that the bear market could be over. He added that those stuck with bearish lenses, like Murad Mahmudov, Tone Vays, along with other short-term skeptics, could miss out. Some may be calling for an end to the bear market, but there remains a notable level that Bitcoin needs to breach confidently to confirm a longer-term bull trend. For those who missed the memo, this level is around $4,800, which Greenspan, Survivalism, and the Bravado team pointed out in recent tweets. In their eyes, the 200-day EMA, currently situated around the aforementioned price point, will continue to be an important level of resistance, as this measure supported Bitcoin throughout multiple times its 2017 rally. As traders sa

3 days ago

XRP and Stellar (XLM) Not Left Behind by ETH and EOS, Gain 8% in 24 Hours

In the last 48 hours, the crypto markets have provided an exciting time for traders across the world. Late Sunday found the total market capitalization standing at $121.7 Billion. The total crypto market cap has since gained $11.55 Billion and is currently valued at $133.255 Billion at the moment of writing this. Further checking individual cryptocurrencies, Bitcoin (BTC) is currently a few dollars shy of the $4,000 mark and is valued at $3,912. Ethereum has been the coin to watch since Sunday. ETH has had an impressive run in the markets from $124 to its current value of $147. This is an impressive 18.5% increment in the mentioned time period. EOS has also had an impressive run in the last 48 hours having exhibited gains of 23% since Sunday. The coin is currently valued at $3.58. Another coin that has had an impressive run is Bitcoin Cash (BCH) with 20% gains in the last 48 hours. XRP and XLM Catching Up As other major coins set the pace in the markets, XRP and XLM seemed to be lagging behind until now. Both are currently showcasing approximately 8% in gains in the last 24 hours. Further analyzing their price action since Sunday, XRP and XLM have gained by 11.8% and 12.5% respectively. This gives a clearer picture that the two digital assets have not entirely been left behind by the market excitement. Recent XRP and XLM Upgrades Looking at recent developments of the two digital assets, both have had recent upgrades to their code base. In the case of XRP, its newest ledger is version 1.2.0 that was released on the 13th of this month. This new code introduces the MultisignReserve Amendment. The latter reduces the reserve requirement associated with signer lists for Multisign. The new release also included incremental improvements to the code that handles offers in the decentralized exchange. Switching gears to XLM, the recent upgrade of Stellar’s code was made available to the public on Valentines Day. The new version (v10.2.0) has a multiple improvements centered around the stability of the network. The new release also has the following new features. simplified and documented metrics added progress meter when catching up ability to log (debug/trace) transactions and their results SCP status includes delayed validator information to help identify slow validators in quorum new command line format now accepts global switches anywhere (ie before or after sub-command name) What are your thoughts on the recent market performance of not only XRP and XLM, but the entire spectrum of cryptocurrencies? Do you think the current excitement will be sustained signalling a reversal of the ongoing bear market? Please let us know in the comment section below. [Feature image courtesy of Unsplash.com] Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post XRP and Stellar (XLM) Not Left Behind by ETH and EOS, Gain 8% in 24 Hours appeared first on Ethereum World News.

3 days ago

Bitcoin In, Fiat Out? Tim Drapers Brave Prediction On Fiat Currencies

The American venture capital investor, Tim Draper has said that even though we are currently undergoing the crypto winter, that isn’t a reason to lose hope as he believes the time of fiat currencies will end in five years. Even when the cryptocurrency market is still going under a lot of pressure from the bear trend, there is still a lot of active supporters of the industry who have strong hopes that there is a bright future ahead for the market. Some of the bravest ideas have come from the billionaire investor, Tim Draper. Only Criminals will use Fiat Draper recently sat down in a interview where he claimed that cryptocurrency would become the mainstream across the globe and that only criminals will use fiat currencies. The venture capital investor has always been very bullish when it comes to his predictions. More so than a lot of many well-known crypto enthusiasts such as the Winklevoss twins and the CEO of Coinbase Brian Armstrong. Draper is a firm believer that Bitcoin has the capabilities to change the world but he also believes that the crypto market as a whole has this possibility. In the past, Draper has expressed his idea that in fiat would lost its dominant status in just five years time. Despite all the continuous market trends, Bitcoin would recover with a full transition to cryptocurrency occurring. Back in November, Draper said “down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less.” Confirming his standpoint he said, “the criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.” He went on to explain that his wild prediction came from the fact that criminal actions could be easily detected on the blockchain and that’s why only the usage of fiat would give fraudsters the ability to stay unnoticed. JP Morgan A few years ago the CEO of JP Morgan Jamie Dimon, said that Bitcoin is a fraud but in a recent announcement by the banking institutions, Dimon seems to have shocked the community by saying something the complete opposite. The announcement, made by the CEO said, “not many bitcoin knock offs have worked particularly well, but they all add to the interest in bitcoin.” Last week the bank announced a JPM Coin which didn’t do much at the time for the market but yesterday saw the price of Bitcoin nearly touch $4,000. Is this a sign of things to come?

3 days ago

Rakuten May Soon Accept Crypto Payments

Japan’s Amazon-analog Rakuten, in its last earnings report, has announced that it will be releasing new features on its pay mobile app which may supposedly allow its users make use of cryptocurrency transactions through the gateway in the near future. Rakuten didn’t directly say that it would accept cryptocurrencies, however, it did give a hint that all payment options will be accepted and since it already owns a subsidiary that offers cryptocurrency service, hence the possibility of it accepting crypto payments on its app when the upgraded features are released in March. Rakuten’s involvement in crypto was established when it acquired local crypto exchange Everybody’s Bitcoin last year and was of the opinion that cryptocurrency-based payments will revolutionize the e-commerce industry. Cryptocurrency payments on e-commerce platforms are thought to be one of the revolutionary hallmarks of cryptocurrency that may usher it into mainstream usage. Up until recently, only a few stores accepted crypto payments and most of these were sponsored by enthusiasts themselves. As for mainstream stores, it remains to be known what’s keeping them from accepting cryptocurrency payments. More so, a sample survey showed how an average of 3% of Americans used Bitcoin for purchases. Perhaps it has something to do with volatility and the fact that in most jurisdictions, crypto regulatory status is either uncertain or outright banned. However, for Japanese crypto enthusiasts, the possibility of this development by Rakuten may have a positive impact on the industry. E-commerce shoppers continue to show enthusiasm towards cryptocurrency adoption, although it might take a while before the industry has fully permeated the e-commerce niche. More so, a recent survey showed that 12.7% of Amazon customers would like to see the marketplace selling cryptocurrency products or services. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: bitcoinnews.com The post Rakuten May Soon Accept Crypto Payments appeared first on BitcoinNews.com.

3 days ago

Cryptos Will Force Out Fiat Currencies in a Matter of Five Years, Claims Famous VC Tim Draper

CoinSpeaker Cryptos Will Force Out Fiat Currencies in a Matter of Five Years, Claims Famous VC Tim Draper Though even now when the crypto market is still under a serious pressure of the bearish trend, there are a lot of active supporters of crypto who believe in the bright future of the market, billionaire investor and known Bitcoin (BTC) bull Tim Draper is likely to have the bravest ideas. Fiat for Criminals In his recent interview, he claimed that in five years crypto would become widespread all over the world and only criminals would use fiat currencies. Draper has always been much more optimistic about Bitcoin than many other well-known crypto enthusiasts, including well-known supporters of crypto Coinbase CEO Brian Armstrong and Tyler and Cameron Winklevoss who founded the Gemini Cryptocurrency Exchange. But in fact, he believes not only in Bitcoin’s capacities to transform the world but in the capacities of the entire crypto market. Earlier, Draper had already expressed the idea that in five years fiat would lose its dominant status and that despite all the ongoing market trends Bitcoin would recover a full transition to cryptocurrency would happen. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” said he at that time. Now he reaffirmed his position and added: “The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.” He explained such a prediction by the fact that criminal actions could be easily detected on blockchain, that’s why only the usage of fiat would give fraudsters a chance to stay unnoticed. New Cryptos and Bitcoin Nowadays nobody is surprised when some new crypto appears. Nevertheless, if a person for some years has been denying the feasibility of digital assets adding that Bitcoin is a “fraud” and “worse than tulip bulbs”, and now claimed that his bank had created its own crypto asset, it may seem rather unusual. This announcement that was made by JPMorgan Chase chief Jamie Dimon may seem rather shocking for many members of the crypto community but not for Draper. According to him, such news is great for the whole industry. He also explained his position. “Not many bitcoin knock offs have worked particularly well, but they all add to the interest in bitcoin”, added he. Though the information on the bank’s JPM Coin didn’t boost Bitcoin’s price last week when it was revealed, now the coin has gained over 5% over the last 24 hours and is traded for $3,938 at the time of writing. But still, its price is very far away from the record $20,000 height. However, Draper believes that in 2022 the coin will be traded for at least $250,000. Let us also remind that Tim Draper is not the only crypto guru who tries to convince the community that the best days for Bitcoin are still ahead. Quite recently, Jack Dorsey has stated that Bitcoin has good chances to become the Internet’s single native currency. Cryptos Will Force Out Fiat Currencies in a Matter of Five Years, Claims Famous VC Tim Draper

3 days ago

Cryptos Will Force Out Fiat in a Matter of Five Years, Claims Famous VC Tim Draper

CoinSpeaker Cryptos Will Force Out Fiat in a Matter of Five Years, Claims Famous VC Tim Draper Though even now when the crypto market is still under a serious pressure of the bearish trend, there are a lot of active supporters of crypto who believe in the bright future of the market, billionaire investor and known Bitcoin (BTC) bull Tim Draper is likely to have the bravest ideas. Fiat for Criminals In his recent interview, he claimed that in five years crypto would become widespread all over the world and only criminals would use fiat currencies. Draper has always been much more optimistic about Bitcoin than many other well-known crypto enthusiasts, including well-known supporters of crypto Coinbase CEO Brian Armstrong and Tyler and Cameron Winklevoss who founded the Gemini Cryptocurrency Exchange. But in fact, he believes not only in Bitcoin’s capacities to transform the world but in the capacities of the entire crypto market. Earlier, Draper had already expressed the idea that in five years fiat would lose its dominant status and that despite all the ongoing market trends Bitcoin would recover a full transition to cryptocurrency would happen. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” said he at that time. Now he reaffirmed his position and added: “The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.” He explained such a prediction by the fact that criminal actions could be easily detected on blockchain, that’s why only the usage of fiat would give fraudsters a chance to stay unnoticed. New Cryptos and Bitcoin Nowadays nobody is surprised when some new crypto appears. Nevertheless, if a person for some years has been denying the feasibility of digital assets adding that Bitcoin is a “fraud” and “worse than tulip bulbs”, and now claimed that his bank had created its own crypto asset, it may seem rather unusual. This announcement that was made by JPMorgan Chase chief Jamie Dimon may seem rather shocking for many members of the crypto community but not for Draper. According to him, such news is great for the whole industry. He also explained his position. “Not many bitcoin knock offs have worked particularly well, but they all add to the interest in bitcoin”, added he. Though the information on the bank’s JPM Coin didn’t boost Bitcoin’s price last week when it was revealed, now the coin has gained over 5% over the last 24 hours and is traded for $3,938 at the time of writing. But still, its price is very far away from the record $20,000 height. However, Draper believes that in 2022 the coin will be traded for at least $250,000. Let us also remind that Tim Draper is not the only crypto guru who tries to convince the community that the best days for Bitcoin are still ahead. Quite recently, Jack Dorsey has stated that Bitcoin has good chances to become the Internet’s single native currency. Cryptos Will Force Out Fiat in a Matter of Five Years, Claims Famous VC Tim Draper

3 days ago

Crypto Analyst Calls For ‘Altseason’, Expects Bitcoin Dominance To Go Sub -30%

Crypto Assets To Surge, Claims Trader Galaxy, a self-proclaimed “cryptocurrency accumulation machine,” recently remarked that from his point of view, Bitcoin (BTC) market dominance is going to be in for a tough time. Citing historical trends, the preeminent analyst noted that much like the broader crypto market, market dominance has, and will likely continue to undergo long-term cycles over the course of months and years. In his eyes, the recent buildup in BTC dominance, underscored by 2018’s bear market, will end in a breakdown, whereas this market will enter the so-called “altseason.” And with Bitcoin dominance’s uptrend longest the weakest so far, Galaxy remarked that he wouldn’t be surprised if BTC’s share of the cumulative value of cryptocurrencies is to fall under 30%. 1. Build up $BTC domination 2. Breakdown 3. Altseason 4. Rinse and repeat. Furthermore, looks like the weaker the dominance uptrend the longer the altseason and so far this one is the weakest. Expecting dominance to fall under 30% and the longest altseason to date. #crypto pic.twitter.com/eabtk6rGG9 — Galaxy (@galaxybtc) February 18, 2019 He claimed that if the aggregate market capitalization of all non-Bitcoin digital assets surpasses ~$61 billion, just a smidgen away from current levels, a notable rally in this subset of cryptocurrency is “ON.” If we manage to push trough this, its ON. #altmarketcap pic.twitter.com/aIl01WvlJ8 — Galaxy (@galaxybtc) February 18, 2019 Galaxy’s recent thread on the rally potential that altcoins hold comes after he expressed optimism towards Bitcoin. Per previous reports from Ethereum World News, the analyst noted that drew an optimistic “Adam and Eve” chart outlining the multi-month performance of BTC. It was depicted that BTC may slowly trend to its $3,150 yearly low, before breaking above $4,000 (which would confirm a recovery) and moving back above $5,000, $6,000, and beyond by year’s end. While his comments regarding altcoins don’t indicate that he hates Bitcoin per se, Galaxy seems to be sure that alternative crypto assets will easily outperform the ‘OG’. Some Convinced Bitcoin Will Maintain Hegemony Although Galaxy is making a strong case for a monumental rally for altcoins, some claim that Bitcoin will maintain its long-standing hegemony in the years to come. On Twitter, Ari Paul, the managing partner of crypto asset investment group BlockTower, claimed that due to Bitcoin’s programmability, it is unlikely to get ousted by fast, feature-rich digital assets/blockchains in the future. He concluded that cryptocurrencies cannot simply usurp Bitcoin’s status as the top blockchain by simply “adding features, or with incrementally better transactional throughput,” but by utilizing different governance and consensus mechanisms, monetary models, or security models. Paul isn’t the only one convinced that Bitcoin will always be a mainstay in this nascent sector. Barry Silbert, the chief executive of Digital Currency Group, noted that as it stands, he’d be careful in choosing allocations into alternative cryptocurrencies and other digital assets. He explained that from his point of view, a “vast majority of digital tokens” could eventually be valued at all but nothing. This is odd, especially considering his firms’ positions in blockchain upstarts and assets like ZCash and Ethereum Classic. But Silbert was adamant in touting this investment thesis, remarking that: “Almost every ICO was just an attempt to raise money but there was no use for the underlying token... The vast majority of what’s out there will be eliminated.” A.T. Kearney, a multinational management consulting firm, recently claimed that Bitcoin’s market dominance could swell to 66% from 52% in the coming months and years. The fact that institutions are focusing their crypto-related efforts on Bitcoin only cements the idea that the flagship cryptocurrency isn’t going anywhere any time soon. Title Image Courtesy of Descryptive.com Via Unsplash The post Crypto Analyst Calls For ‘Altseason’, Expects Bitcoin Dominance To Go Sub -30% appeared first on Ethereum World News.

4 days ago

Ethos Releases Universal Wallet Update to Improve Speed

Ethos (ETHOS) recently announced a new update to its Universal Wallet. The update is meant to significantly increase speed on the platform and according to Ethos load times have increased by 600%. The upgrade also integrates push notifications as a new feature and users will now have access to crypto-media related breaking news, price alerts and transaction status updates. The update comes just 1 month after Ethos partnered with Simplex to integrate the payment processor to their universal wallet and now Ethos users can purchase Bitcoin and a range of altcoins with credit and debit cards. (RS)

4 days ago

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4 days ago

1, ...

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4 days ago

Crypto Startup with a business model that could walk along Amazon

Almost all shopping experience we encounter in our society comes with a bill rather than potential income. A small startup called Cryptobrands, Corp. an online decentralized store is ready to change the entire aspect of online shopping. This change will ensure coins or tokens couples with everyday purchases to get shoppers out of debt. Improving consumers lifestyle is the secret behind decentralized shopping. Only heaven knows why centralized retail cost so much yet gives so little but that no longer matters with decentralize retail and the miracle digital assets have in-store for debt relief. Picking the right coins or tokens can be a snag at times but now consumers have a recourse. Decentralized retail will allow customers to automatically assert diversity into the cryptocurrency market. Increasing the possibility of paying off mortgages earlier than 30 yrs. Mortgages, students loans and all other expenses incurred can be eliminated through decentralized shopping. Centralized retail controls introverts and sells products that are enviably going to be devalued. We are not a conventional company in the cryptocurrency space. We’re creating a new system that focuses on tangibility for digital assets. Join us and forward us to all your friends and family to make Cryptobrands, Corp the first retail company to award debt-free status to its customers. Over 30 yrs ago shopping at the neighborhood grocery store was a pleasant trip. Owners cared about the lifestyle and health of its shoppers up-close and personal but in today’s society, a few corporate entities have diminished that care. Seeking 320 participants in our 60 day crowdfunding round. Email us at crowdfunding@cryptobrandscorp.com to join. Visit www.cryptobrandscorp.com for more information. Centralized Retail Overpricing/ Overpricing Devalues Income Sawgrass Mills Mall located in sunrise Florida is one of the largest malls in the world a massive 2,370,610 square feet of shopping space. This mall sold projection televisions in 1999 for just around $7,500 USD to $10,500 USD now forward to today they are extinct. No longer available In major stores which increases the chance that if you happened to run into one you would most likely get it for free. One of the reasons for referencing PTV’s pricing is because millions of customers who purchased these units paychecks went into devaluation. Shoppers are the bosses, leaders and the engine for the economy. The problem stands firm when goods are overpriced thus negatively draining shoppers income. This leaves less affordability available which affects every woman and child globally. For a metaphor imagine a plastic bag full of water as income and then someone used a pin to poke a hole in it. Each time an online purchase is made or an ATM is visited another hole is placed in the bag. The problem is that the more overpriced the items bought the faster the water comes running out. Even if you do not use your card that much you lose income just as fast if the items you purchase are overpriced. The gist is the leader of the retail stores are unnecessarily draining the resources around the globe and giving zero in return. Overpricing is one of the reasons many persons are making $45,000 per year and yet cant find $5000.00 to put in cryptocurrency. It does not matter the educational level or status held a greedy retail store operator can remove a large cut of a consumers income through pricing. This is the main reason a company such as Cryptobrands, Corp is needed that structures itself to share the wealth among shoppers it’s the way God would want it to be and it’s surely what is desperately needed in society. Source: Saw Grass Mall | Cryptobrands Corp The post Crypto Startup with a business model that could walk along Amazon appeared first on AMBCrypto.

4 days ago

Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12%

The new week has started on a good note as crypto prices go green. However, among the top cryptocurrencies, Ethereum is rocking the highest gains of overall 12 percent. At the time of writing, the second largest cryptocurrency has been trading at $138.24 with 24-hours gains of 11.40 percent. In the BTC market as well it is up by over 7 percent. If you take a look at Ether’s one-day price chart, it has been on an upward incline, going from $123 to $138. Ethereum 24-hours price chart, Source: Coinmarketcap With ETH reward reduction coming in just about 2 weeks, looks like this time Ethereum bulls have finally started a short-term rally for the crypto market. Analysts Seeing a Major Shift Potential in Ethereum As Ethereum prices spike upwards, Crypto analysts and traders are expecting even more green with a major shift coming its way. According to Crypto trader Hsaka the Ethereum price chart is in a very bullish territory right now while expecting the prices to go above $145 as he says, “Take a breath before FOMO gets to you. Chart looks pretty darn bullish. That doesn’t mean blindly long at resistance, wait for a pullback and long that instead. Or wait for it to start consolidating under resistance.” ETH/BTC pushing over the 200 day moving average for the first time in months. Also a 50/200 cross seems imminent. Major shift potential. pic.twitter.com/YzbowSw9ju — Ledger Status (@ledgerstatus) February 17, 2019 Meanwhile, one crypto trader is far more bullish on Ethereum as DonAlt shares his sentiments towards this digital asset, “I’ve heard Etherum will one day be the global computer that does smart contractions so I rebought me a few at 121. Seems like a good idea if you compare it to BTC it can go x10 easily and still only be worth 1/3rd of a coin. That’s a steal right there.” I’m incredibly bullish on $ETH for the next few weeks. I’d get a cardboard Vitalk cutout if I could just so I have it by my side 24/7. No matter what BTC does ETH will outperform the market in my mind. I’ll use dips as giant buying opportunities. — DonAlt (@CryptoDonAlt) February 17, 2019 While it is expected that Bitcoin could see a breakout as well, Ethereum is already nearing $140 and is poised for more gains. Having recently taken over the 2nd position from XRP, Ethereum is all set to make the most of its upcoming event on February 27. $ETH ETH gave some good opportunities this morning with a quick move up. Raided the highs and is now retracing. Depending on today’s daily close I’ll be targeting the $115 area for ETH. That’d probably bring back all the bears that got stopped / liq’d on the move up. pic.twitter.com/n1x9weymSf — DonAlt (@CryptoDonAlt) February 17, 2019 The post Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12% appeared first on Coingape.

4 days ago

ICYMI: Crypto Week in Review (February 17, 2019)

Each Sunday, we breakdown the most important news from the past week for SludgeFeed Premium members with key takeaways you might’ve missed. Top Headlines This Week: JPMorgan’s Ethereum-Based Stablecoin ‘JPM Coin’ Fails to Inspire the Market The cryptocurrency market may have reached peak bear status after it failed to budge an inch on news that J.P. Morgan Chase (JPM) has

4 days ago

Spain’s Central Bank: Bitcoin Inefficient As Large-Scale Payment System

Spain’s Central Bank, Banco de España (BDE), has published a report stating that Bitcoin is inefficient as a payment system. It may, however, have slightly missed the boat, as it does ignore second layer protocols such as Lightning Network. Good Title, Shame About The Rest The author of the report, BDE’s Deputy General Director of Financial Innovation and Market Infrastructures, Carlos Conesa, started well. He clearly deliberated for some time over the title, finally settling on ‘Bitcoin: A solution for payment systems or a solution in search of a problem?’ Then follows the obligatory (for Central Bank Bitcoin analyses) 10 pages explaining what Bitcoin is and how it works. The second part of the report looks at whether Bitcoin makes a good payment system (spoiler alert: it doesn’t). Unfortunately, Conesa’s title rather sets the agenda for the whole report. Accurate Analysis... Misses The Point The report takes the following form; analyze an essential attribute of Bitcoin; explain why this makes for an over-complicated payment system. For example, attributes such as decentralization and a lack of intermediaries are noted as a limitation to mass value exchange. Decentralization, suggests the report, requires a “process of intensive validation in the consumption of resources, which reduces system efficiency.” In contrast, “centralized systems with an intermediary trusted by the parties allow the design of much simpler and cheaper systems.” Well yes, but then you have a centralized system and a need to trust an intermediary. According to Conesa, payment systems should facilitate the sending of money between two parties simply, economically, quickly and safely. In his opinion, the design of Bitcoin does not pursue these objectives, but that of a system without censorship. Or perhaps even a system which combines the two? Planned Obsolescence One of the main arguments Conesa makes against Bitcoin as a payment system is the ability to process transactions. He states that Bitcoin’s potential 600,000 daily transactions are “insignificant” compared to global retail payment systems. True, but with the development of Lightning Network, this statistic becomes “insignificant”. It feels very much like BDE had to file a report criticizing Bitcoin and bigging-up the status quo. In order to do so, it had to willfully ignore the actual state of Bitcoin today and hope nobody realized. Disingenuous to say the least. Many technologies come with planned obsolescence. This report was already obsolete, years before it was published. Do you agree with Spain’s central bank? Share your thoughts below! Images courtesy of Shutterstock The post Spain’s Central Bank: Bitcoin Inefficient As Large-Scale Payment System appeared first on Bitcoinist.com.

5 days ago

Luxembourg’s New Bill Affords Blockchain Transactions the Same Protections as Traditional Ones - CryptoSlate

Luxembourg lawmakers passed a new blockchain bill into law, giving transactions completed via distributed ledger the same legal status as those done via traditional means. Luxembourg is one of the more forward-thinking in terms of blockchain adoption. Now, the country has taken a significant step in providing financial market participants with more transparency and legal

6 days ago

Luxembourg's New Bill Grants Blockchain Transactions the Same Protection as Traditional Payments

On February 14, Luxembourg's legislators passed a bill into law and it gives that blockchain transactions have the same legal status as those made through traditional means. This move will provide financial market participants with more transparency and legal certainty regarding the distribution of securities with blockchain technology. 58 out of 60 house members voted in favour of the bill, showing that the country is embracing the nascent industry instead of trying to stifle it within its borders. (VK)

6 days ago

Luxembourg’s New Bill Affords Blockchain Transactions the Same Protections as Traditional Ones

Luxembourg lawmakers passed a new blockchain bill into law, giving transactions completed via distributed ledger the same legal status as those done via traditional means. Luxembourg is one of the more forward-thinking in terms of blockchain adoption. Now, the country has taken a significant step in providing financial market participants with more transparency and legal […]

6 days ago

XRP Price Drops a bit Following JP Morgan’s “Crypto” Announcement

As has become customary in the world of cryptocurrencies, tokens, and digital assets, Friday evenings often yield some surprising momentum. Although the past few days have been somewhat bearish, no one really expected the XRP price to decline further. That is what has happened after all, as the asset is losing ground in both USD and BTC value despite some intriguing developments behind the scenes. XRP Price Momentum Turns Quite Sour Nothing has effectively warranted a negative - or positive - shift where XRP’s value is concerned. The recent announcement regarding JP Morgan building its own cryptocurrency has caused some minor shockwaves, but it has not affected most markets in any notable fashion. As such, the current XRP trend seemingly makes little sense, yet the losses are there for everyone to see. Over the past few hours, the status quo for XRP has been disrupted in a negative manner. With a 1.3% decline in USD and BTC value, the coming weekend does not look too promising. Maintaining the $0.3 level may prove very difficult, and it seems the 8,200 Satoshi level may come under additional pressure as well. As can be seen on social media, the opinions regarding JP Morgan rivaling Ripple and XRP are somewhat divided. XRP Andy is convinced JPM is well behind the curve and will eventually embrace XRP as its own standard. While that may be wishful thinking at this point, building a new currency and its associated ecosystem will be challenging. Lets face it JPM are 10 years behind in software development and its unlikely they will come up with a product that can beat ripple and #XRP #Bitcoin for example is sub standard to #XRP. Let someone tell me otherwise. JPM know its a huge market. #IoV #FOMO — #Democracy (@XRPAndy) February 15, 2019 As Weiss Ratings wonders if JPMCoin can threaten XRP, CGSVelo offers a very apt response. This user claims it will be another coin to bridge for Ripple which will pave the way for future use cases where XRP is concerned. Again, this may prove to be wishful thinking first and foremost, but only time will tell what the future will hold. One more coin to bridge for @Ripple. This is good for #XRP. Large institutions onboard, regulatory clearance and banks using crypto. — CGSvelo (@cgsvelo) February 15, 2019 Perhaps the most interesting development is how Uphold has increased its Crypto holdings over the past few hours. While a stronger focus lies on Dash and BAT, the company has - seemingly - 39% of its holdings in XRP, at least at the end of January 2019. A remarkable development regarding an asset which lit over 90% compared to its all-time high. In 2018, holdings of $DASH and $BAT on #Uphold increased by 281% and 183% respectively, while $XRP grew to 39% of all #crypto holdings between its launch in March 2018 and January 2019. Check out this post for more #Uphold stats from 2018! https://t.co/RkM8PaEdL9 — Uphold (@UpholdInc) February 15, 2019 All of these signs point toward a rather interesting weekend where XRP is concerned. Overcoming the current losses may not pose much of a challenge on paper, but in the real world, things often work out very differently. Even so, there is some bearish pressure on other markets as well, which usually bodes well for XRP. 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 XRP Price Drops a bit Following JP Morgan’s “Crypto” Announcement appeared first on NullTX.

7 days ago

Why Stellar (XLM) Has More Room For Growth Than Most Large Cap Coins

Stellar (XLM) has reached the far end of the falling wedge it has been trading in. This is a rare sight to see in cryptocurrencies but when the market is down and sentiment against a particular coin is this negative, anything is possible. All hope of a recovery around November, 2018 was lost when the price plunged below the 50 Day MA. As long as XLM/USD remains below the 50 Day MA, there is no hope for any bullish setup. That being said, as the overall market recovers, we will see that the gap between the 50 Day MA and 200 Day MA on Stellar (XLM) is a lot wider than the ones seen on most other large cap coins. This means that Stellar (XLM) has more room to run compared to other top ten cryptocurrencies. As the bear market draws to an end, smart money is busy accumulating top performing coins. Stellar (XLM) is one of them and as we have seen in the past, it performs much like Ripple (XRP) in terms of growth. The difference is that it is a more ‘decentralized’ cryptocurrency than Ripple (XRP) which means it is not interested in protecting the banking status quo and wants to revolutionize it. Ripple (XRP) on the other hand wants to help the banks put up a fight to maintain their status quo. This makes XLM/USD and XRP/USD good hedges against one another for investors that are in it for the long haul. Besides, the simple game where people just put money in any crypto of their choice and the market starts surging higher along with their favorite crypto cannot last for long. There was a time during the dot com boom when people could have bought anything and made a lot of money. However, there came a time when that approach no longer worked. Anything with a dot com in front of it did not necessarily have to succeed and people realized that. Those that did not, had to pay for the lesson in due time. In the cryptocurrency market, we have seen that a lot of new coins made a lot of gains during the previous bull runs. However, when things got tough and we entered a bear market, a lot of those projects went belly up. Some declared bankruptcies, others lost too much funds and couldn’t operate anymore so they quit. The daily chart for XLM/BTC shows that Stellar (XLM) is also trading in a falling wedge against Bitcoin (BTC) and is expected to correct to the upside any time now. The RSI is in oversold territory and the MACD crossover indicates a near term shift from bearish to bullish momentum. It is thus obvious that Stellar (XLM) has a lot of room to run against other large coins short term. However, considering that Stellar (XLM) wants to empower the end user to be in charge of their finances without having to rely on a middleman, there is a high probability that Stellar (XLM) might eventually beat Ripple (XRP) at this game and come out on top. Yahoo was a lot bigger than Google and had a larger customer base but we all know how that turned out in the end.

7 days ago

UK Bitcoin Adoption Impacted By Brexit

The adoption of Bitcoin in the UK could be about to see a huge turning point within the on-going Brexit negotiations. As it stands, the UK government is currently in talks with the European Union trying to come to some sort of an agreement for the terms that will govern the UK’s eventual exit from the European Union. We know the EU themselves are pro-crypto and as it stands, UK officials also stand on similar ground, but, how will the eventual Brexit turnout impact Bitcoins future in the UK? According to Civil Service World, HM Revenue & Customs (HMRC) the UK tax and finance office, have agreed to cease all cryptocurrency based work and research until after the Brexit negotiations are complete, putting a halt to the research that has recently been carried out on a government level. It’s no secret that HMRC and other similar agencies have been working hard into exploring all aspects of blockchain technology, from how the blockchain can impact immigration and border policies, to a Bank of England led stablecoin and even research into Bitcoin adoption across the general population. According to the report: “Despite a successful proof-of-concept exercise, HM Revenue and Customs has suspended work to deploy blockchain technology at the UK border until after the country’s exit from the European Union has been completed.” Mel Stride, the Financial Secretary to the Treasury has said: “HMRC is working with the cross-government Future Borders Programme to progress the pilot. But implementing blockchain at scale would require significant further work by HMRC. Further work on the application of Blockchain to Authorised Economic Operator status is deferred until after the UK leaves the EU, when timescales and cost will be revisited.” Why is this happening? It’s clear that current budget, plans and timescale all assume the UK is a part of the European Union. Once the UK leaves however, the money, time and priorities of the teams at HMRC will all have changed, meaning that the current blockchain research plans may not be able to be completed, therefore, why should they waste time and money doing the research now, when the future of a post-Brexit UK is so uncertain? This news is somewhat negative and will see the progression towards Bitcoin adoption in the UK face a number of hurdles. We can only hope that funding continues and that when a more clear plan for Brexit is outlined, that HMRC and co are able to continue their research and that one day, Bitcoin becomes a mainstream currency within a blockchain-adoptive UK.

7 days ago

JPMorgan’s Ethereum-Based Stablecoin ‘JPM Coin’ Fails to Inspire the Market

The cryptocurrency market may have reached peak bear status after it failed to budge an inch on news that J.P. Morgan Chase (JPM) has created its own stablecoin built on Ethereum (ETH). According to a recent report by CNBC, the new digital token, called “JPM Coin,” has been built as a means to instantly settle payments

7 days ago

Make sure to stop by the status booth today at @ethdenver to...

Make sure to stop by the status booth today at @ethdenver to earn an #bufficorn NFT! Register your ENS name at the… https://t.co/wiA9XisW4g

7 days ago

Wyoming Passes New Friendly Regulations for Crypto Assets

The Wyoming state government has been expanding its status as a hub for crypto and blockchain technology by passing several new bills this February.According to Wyoming-based blockchain advocate Caitlin Long, the state of Wyoming has recently passed resolution SF0125 on February 14, 2019, claiming that Wyoming “law recognizes property rights in the direct ownership of digital assets.” The bill plainly states “that digital assets are property within the Uniform Commercial Code” and goes on to elaborate some of its ramifications.Long gave a succinct rundown of the bill’s most salient points, stating that “In other words, you're not forced to own digital securities through an intermediary. Blockchain tech enables direct ownership of assets, and now the law does too.” Since property law in the United States is in the hands of state jurisdiction, this new step is not only safe from the federal government but also can serve as a model for other states.“It makes perfect sense that Wyoming is the epicenter of blockchain law in the US,” said Long, a Wyoming native. “That's also why institutional investors, which are prohibited by federal law from directly owning the assets they manage, can rest assured that Wyoming's digital asset custodians are actually solvent.”This is not the only accomplishment made by pro-crypto voices in Wyoming, however. On February 2, 2019, the Wyoming State Senate also passed a bill updating the classification of crypto assets, including a clause to formally label them as currencies.According to the text of the bill, crypto assets can be considered to have three different statuses for legal purposes: digital consumer assets, digital securities and virtual currencies. All three of these definitions are specifically registered as personal property rather than private property, formally upholding a stance that other jurisdictions overseas and abroad have taken.More significantly, however, the bill also further elaborates on the specific terms and conditions for each of these three statuses. In addition to the respective classifications of “general intangibles” and securities, the bill also states that “virtual currency is intangible personal property and shall be considered money.”In redefining the legal status of crypto in this way, it formally opens up the possibility for ordinary citizens to treat crypto as an actual currency on a daily basis. This, in turn, could provide the impetus for a more comprehensive tax code or new business use cases.Wyoming has been cultivating a reputation as a major crypto haven in the United States, in a bid to angle itself as the blockchain hub of the nation. In addition to enabling blockchain into stock certificates with bipartisan support in January 2019, Wyoming has also helped make banking laws more friendly for blockchain companies last December. Many Wyoming legislators are evidently, at the very least, sympathetic to making blockchain a new Wyoming industry and further friendliness can be expected in the future. This article originally appeared on Bitcoin Magazine.

7 days ago

@sachelus Up-to-the minute status on all assets is available...

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7 days ago

The Female Wave in Blockchain

There’s been a large movement of people into blockchain over the past few years, likely due to the lucrative and challenging nature of the space, perfect for professionals that want to maximize their contribution towards challenging the status quo. Helping encourage this trend to continue is important, especially in regards to attracting professional women to the space. My belief is that...

7 days ago

Even During Nuclear Winter, the Largest Crypto Asset Manager Controls Nearly $1 Billion

Cryptocurrencies have continued to stumble, but one organization has been making promising strides in the back offices of the Bitcoin space. Grayscale Investments, a wholly-owned subsidiary of the crypto conglomerate that is the New York-based Digital Currency Group, revealed that its products secured millions in investment amid the so-called “crypto winter.” Crypto Winter Has Been No Match For Grayscale’s Bitcoin Fund Grayscale, headed by Michael Sonnenshein, recently released its “2018 Digital Asset Investment Report” to outline company performance over the course of yesteryear. And surprisingly, the statistics were arguably not foreboding, but optimistic. BREAKING: We are excited to share our 2018 Digital Asset Investment Report! 2018 Highlights include:• Total Capital Raised into Grayscale Products: $359.5M • Majority of investment (66%) came from institutional investors Read the FULL report https://t.co/Kjv3tBdqrl pic.twitter.com/GGvTJ2eqLJ — Grayscale (@GrayscaleInvest) February 14, 2019 The company first accentuated that as it stands, it has $825 million worth of assets under management, 43.5% ($359.5 million) of which entered Grayscale’s care in 2018. While this figure was impressive in and of itself, it was later explained that 66% of inflows came from institutional investors, who Grayscale claims are “building core strategic positions in digital assets.” Doing some napkin math, that means that $237 million of investments in Grayscale’s products, which include in-house Bitcoin, Ethereum, and Stellar Lumens funds, came from institutional players. While $237 million may not seem like a monumental sum, critics of Grayscale’s 2018 figures would be remiss to neglect fiat amplifiers. Alex Kruger, a leading cryptocurrency economist and researcher, recently did some analysis on how nominal fiat inflows affect the aggregate value of all cryptocurrencies. According to JPM, only 2 billion dollars entered Bitcoin in 2017 => $2 billion propelled bitcoin's market cap from $15 billion in Jan/1/2017 to $250 billion by year end. pic.twitter.com/6vW0lJ5WvB — Alex Krüger (@Crypto_Macro) January 3, 2019 Citing a 2018 report from JP Morgan regarding cryptocurrencies, the New York-based trader explained that that Wall Street institution is calculating a fiat amplifier of 117.5 ($1 million in fiat investment turns into $117.5 million in cryptocurrency value). But, this isn’t the whole story. Citi purportedly estimated an amplifier of 50, while Chris Burniske of Placeholder Ventures calculated the figure out to somewhere between two and 25. Thus, considering a low-end estimate of a ten times fiat multiplier, Grayscale’s institutional clients could have infused $23.7 billion worth of registered market capitalization into this space over 2018. Regardless, what was made clear is that institutions still are interested in allocating capital to the cryptosphere, as the heads of such groups look to accumulate when the price of Bitcoin remains in a lull. 2019: The Year Of Institutional Investors These statistics haven’t gone unnoticed. Barry Silbert, the founder of Digital Currency Group, Grayscale’s parent organization, recently took to CNBC to express that the advent of institutional investors will continue to be an industry trend in the coming months. As reported by NewsBTC previously, Silbert commented that products like Bakkt’s futures only accentuate that bigwig firms are poised to make investments in Bitcoin. Galaxy Digital Holdings founder Mike Novogratz also recently made a similar comment. In an interview with Bloomberg TV, the former Goldman Sachs partner noted that it is only a matter of time before institutional-sourced greenbacks appear on crypto’s marketplaces. Echoing comments he has made over recent months, the Galaxy Digital chief executive noted that the “architecture” that would entice institutions to make noticeable capital and effort allocations are starting to be put in place. Case in point, Fidelity Investments, a world-renowned financial institution with over ten thousand clients in its institutional Rolodex, recently revealed that it could launch its crypto custody offering by March. Novogratz explained that this service, along with products of a similar caliber, will pave the way for “smart money” to make a foray. Related Reading: Novogratz: Institutions Will Drive The Next Crypto and Bitcoin Boom While industry insiders are talking up a big game, some fear that there actually aren’t that many bigwigs waiting on the crypto sidelines. Case in point, over recent months, both Coinbase and Blockchain, which both have institutional investor-centric divisions that are some of this sector’s most prominent, dropped notable hires from Wall Street. Representatives from the firms claimed that there has been a noticeable shift in the underlying status of cryptocurrency investment. More specifically, it was explained that “crypto-native firms,” like hedge funds, projects, and venture groups, were the instituti

7 days ago

Wyoming Gives Full Property Rights To Bitcoin Owners

Bill SF0125 was passed in Wyoming this week, to give full property rights to Bitcoin owners. The bill would now go to governor Mark Gordon for endorsement and could become law as early as next week. The new legislation allows for Wyoming residents to own cryptocurrencies with complete legal status, instead of getting it through third-party storage. Wyoming becomes the first US state to pass such a bill. The state has been heavily promoting blockchain and cryptocurrency businesses, and it is working. Just last month, Cardano startup IOHK announced that it is moving its headquarters from Hong Kong to Wyoming. (VS)

7 days ago

In the Daily: Coinbase Bug Bounty, Tradingview Crypto Dashboard, Bitfinex App Update

In this edition of The Daily, cryptocurrency exchange Coinbase has paid out a bug bounty of $30,000 for a critical vulnerability. Also, Tradingview has launched a new crypto dashboard allowing traders to track developments in the cryptocurrency markets and digital asset trading platform Bitfinex has released a new version of its mobile app. Also read: Cointext Expansion, Keycard Wallet, ETF Withdrawal, PUBG Hackers Coinbase Pays $30,000 Bug Bounty Cryptocurrency exchange Coinbase has paid a bug bounty of $30,000 for a critical vulnerability in its systems. The problem has since been fixed, Hard Fork reported, quoting a spokesperson of the leading U.S. digital asset trading platform. The company representative did not provide further details about the vulnerability. The high amount of the bounty indicates, however, that the flaw was severe, the publication notes. Coinbase currently has a four-tier reward system that takes into account the possible consequences of a bug. The platform is ready to hand out $200 for low, $2,000 for medium, $15,000 for high, and $50,000 for the discovery of a bug with critical impact. The severity is also determined by the exploitability of the vulnerability. The exchange has awarded three more bounties this week for low-impact bugs. According to the platform’s bounty terms, a vulnerability must allow bad actors to read or modify sensitive data in its systems, execute arbitrary code, or exfiltrate digital or fiat currency in order to qualify for a critical impact bounty. Coinbase assesses the critical exploitability in terms of the ability of attackers to unilaterally exploit the bug. Tradingview Launches Crypto Dashboard Tradingview, a leading social network for traders and investors, has launched a service called Crypto Dashboard that provides an overview of the current status and latest developments in the cryptocurrency markets. The feature allows users to join the crypto community and track digital assets and their market caps. Furthermore, the platform has added support for bitcoin core (BTC) payments for its premium plan. The price is fixed at 0.09 BTC which means the lower the BTC price, the higher the discount. The subscription is currently offered at less than half the original price of 0.20 BTC. “We have locked the Premium plan price at BTC 0.09 to express our support of the crypto community,” Tradingview explains on its website. The 1-year premium plan offers unlimited chart layouts and watchlists, 200 server-side alerts and up to 25 technical indicators on a single chart. Users will be able to connect up to five devices simultaneously. Bitfinex Updates Mobile App for Crypto Trading Cryptocurrency exchange Bitfinex has launched an improved version of its mobile application that supports cryptocurrency transactions. The digital asset trading platform maintains services for cryptocurrency traders and liquidity providers. The updated Bitfinex app offers some new useful features. These include exchange and margin trading, margin funding, charts, transfers between wallets, new deposits, last movements of both deposits and withdrawals, notifications on trades execution, and price alerts. The crypto exchange recently announced it now supports margin trading for the USDT/USD pair to improve the stablecoin offering, The Paypers reported. It also plans to introduce margin trading for other major stablecoin pairings when sufficient liquidity is reached. In December, Ifinex, the Hong Kong-headquartered operator of the two sister exchanges Bitfinex and Ethfinex, revealed it was migrating data to new servers in Switzerland. The company said the change is part of its decision to switch from using AWS cloud services to a self-designed infrastructure suitable for high-volume trading with faster speeds. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post In the Daily: Coinbase Bug Bounty, Tradingview Crypto Dashboard, Bitfinex App Update appeared first on Bitcoin News.

7 days ago


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