Tokenomy TEN

$0.0751
Market Cap $ 15.024 MM (#158)
24h Volume $ 426.409 K
Chg. 24h: -3.84%
Algo. score 3.2/5  (#371)
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Tokenomy News

ErisX Selects Digital Markets and Exchange Veteran Matt Trudeau as CSO

According to a press release from ErisX cryptocurrency exchange, the company has appointed veteran exchange founder Matt Trudeau as its new chief strategy officer (CSO). ErisX will provide spot trading for Bitcoin, Ethereum, and Litecoin and the company plans to offer futures trading if approved by U.S. regulators. Previously, Trudeau had been a part of ten global market launches and he is the current CEO of a Brooklyn-based crypto and blockchain-focused consultancy. ErisX recently made news for raising $27.5 million from TD Ameritrade, Nasdaq Ventures, and Fidelity Investments. Similar to Bakkt, ErisX is also awaiting approval from the U.S. Commodity Futures Trading Commission. (RS)

a day ago

EOS Becomes the Top Gainer in the Top-10 Club After Coinbase Listing

EOS, which had been crashed by the bearish wave recently, has surged in double digits after the news of Coinbase listing. The news has triggered a surge in EOS prices of 10.02%, becoming the top gainer in the top ten club. The 7th largest cryptocurrency by market capitalization currently trades at $1.95 with a market cap of $1.763B. Cardano and Stellar Lumens are other coins in the top ten club that were also listed by Coinbase. (KE)

2 days ago

Bitcoin and Other Digital Currencies Surge

Today, the crypto market made a sudden turn and began climbing after several days of plunging. An unusually high trading volume saw Bitcoin trade at $3,400, gaining more than 2%. As at the time of writing, 5:00 PM UTC, BTC is trading at $3,424. Most of the top ten digital assets registered gains with EOS gaining more than 10%. Bitcoin Cash SV is the biggest loser in the top 10 having plummeted by approximately 3% in the preceding 24 hours. (KE)

4 days ago

Conservative Coinbase is Planning to List Up To 30 New digital currencies

Coinbase, a prominent cryptocurrency exchange, famous for its conservative nature turned the table and announced its plan to incorporate up to 30 new tokens. Unlike other big firms, the U.S. based company only trades ten cryptocurrencies to its consumers, primarily attributed to the close watch from the tough U.S. SEC. The company recently took the crypto industry by surprise when it went public on token listing contrary to its tradition of abruptly adding new assets. In a statement, the company said the addition of new assets calls for more work across technical and compliance point and thus there is no guarantee that all assets undergoing evaluation will be eventually added. (VK)

4 days ago

Daily Berminal Brief: Bitcoin Crashes To A New Low, And SEC Delays ETF Decision Once Again

The State of The Market — December 7, 2018 BTC: $3,417.08 (-9.58%) XRP: $0.302333 (-10.20%) ETH: $85.75 (-14.36%) The crypto market has once again crashed today, taking Bitcoin to a new low of $3,379. This is lowest Bitcoin has been in 2018 after reaching a high of $20,000. Along with it, the entire Crypto market crashed, wiping out more than $16 Billion in the last 24 hours. Most cryptocurrencies are down by double-digit percentages, except Bitcoin Cash SV which is up by 10%. Ethereum failed to hold on to its support at $100 and crashed to a low of $83.50. In other news, the adoption of Bitcoin’s lightning network has gone up by 1,600% since February 2018. The network’s total market capitalization has increased from 4 BTC to more than 450 BTC. Also, Morgan Creek Digital is betting $1 Million that cryptocurrencies will outperform the S&P 500 over the next ten years. Its founder Anthony Pompliano has invited investors to bet against Bitwise Asset Management’s Digital Asset Index Fund that contains Bitcoin, Ethereum, Bitcoin Cash, EOS, Litecoin, Monero, Zcash, Dash, IOTA, and NEM. 1) The U.S. Securities and Exchange Commission (SEC) has once again delayed the decision on VanEck-SolidX Bitcoin ETF, a rule change proposal allowing the country’s first BTC exchange-traded fund. Reportedly, the commission has extended the ETF review period and pushed the decision deadline to February 27, next year. Reportedly, the proposal was submitted by blockchain startup SolidX and VanEck, a money manager. 2) Bitcoin SV just officially passed Bitcoin Cash in market capitalization ($1.88 billion vs $1.78 billion) after gaining over 21% on Thursday. BSV’s volume over the past 24 hours reportedly is north of $168 million, essentially doubling BCH’s volume over the same period. Besides, Bitcoin SV is the lone gainer in a sea of red today. Bitcoin Cash SV is at the 5th spot now, while Bitcoin Cash has fallen down to 7. 3) ConsenSys is laying off 13% of its current staff of 1,200 employees as part of its new business strategy. As the crypto bear market continues in what many are calling the ‘Crypto Winter,’ many companies that once had overfull war chests now find themselves searching for funding. This period could shake out the less viable projects so that as the market begins to recover, legitimate projects can take center stage and begin mass adoption. (VS)

5 days ago

India’s top ten business school, SP Jain School of Global Ma...

India’s top ten business school, SP Jain School of Global Management, has issued 1,189 #blockchain based certificat… https://t.co/FEgM21bH1Y

6 days ago

South Korea Contemplates Crypto and ICO Tax Laws

A plan to tax cryptocurrencies and initial coin offerings (ICOs) is underway in South Korea, this according to finance minister nominee Hong Nam-ki. Examination The Korea Times has reported that the nominee submitted a written answer to the National Assembly on Sunday, 2 December, during his confirmation hearing. According to the article, Hong said that the plan to tax crypto and ICOs would be completed once the taxation infrastructure has been created and furthermore, based on sentiments drawn from international discussions, saying: “A task force consisting of experts from relevant government agencies including the National Tax Service and the private sector will be formed to examine overseas examples and hammer out the taxation plan.” Hong rather specifically describes cryptocurrencies as “electronic signs of values issued privately”; he said there are around 2,000 digital tokens being traded on a global level and 160 in South Korea. He writes, “Cryptocurrencies are a new phenomenon and so there is no internationally agreed regulatory framework... Furthermore, there are such lingering problems as the market overheating and investor protection. Therefore, we need to be careful in building the regulatory framework.” Precedent His words are typical of those who seek to establish an accommodating environment for the technology. Previously, the governor of South Korea’s Financial Supervisory Service (FSS) urged members of the global community to seek out an “international discipline system” for cryptocurrencies and ICOs. In his speech, the governor described the need to encourage financial innovation, while aiming to cool the “overheated speculation” of the markets, minimize consumer risks and tackle illegal activities associated with cryptos. In August, the South Korean Blockchain Enterprise Promotion Association (BEPA) made calls for the government to act faster in its efforts to regulate blockchain and cryptocurrencies. BEPA criticized the government for giving too much focus to the “negative short-term-side effects” and instead stifling the nation’s ability to compete on the world stage. Tax perks There had been previous uproar in South Korea over the government’s decision to exclude cryptocurrency trading platforms from a special tax relief programme for “new-growth technologies“. Hong offered his thoughts on the matter, believing that the exclusion was due to crypto exchanges being criticized for their vulnerabilities to illegal activities, and this move was a reflection of such sentiments. He adds: “We will do our utmost to nurture blockchain technology as nine out of the ten business types classified as blockchain-related businesses by Statistics Korea excluding the crypto exchanges can be still acknowledged as venture companies.” In the following discourse, fears over domestic enterprises moving to other countries soon became a reality when cryptocurrency exchange Bithumb was sold off to a Singapore-based consortium. As a result, a South Korean lawmaker proposed a bill that would provide the structure for the development of exchanges, “tax reduction and exemption” and guidance pertaining to security issues. With regards to the contentious topic of ICOs, which remain banned with an official decision still pending, Hong said, “We will determine our policy orientations on ICOs with relevant agencies after reviewing the results of the financial regulator’s market survey and getting feedback from experts.” 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 The post South Korea Contemplates Crypto and ICO Tax Laws appeared first on BitcoinNews.com.

7 days ago

Bitcoin [BTC] “going to 0” because of death spiral phenomenon allows for the appreciation of mining difficulty adjustments

Opinion: Bitcoin [BTC] has long been hated by economists, as they believe that it is nothing more than a bubble. Now, in the depths of a rough bear market and declining hashrate, they have resorted to predicting the death spiral of the coin, with one professor of finance saying that it would be due to miners leaving the ecosystem. Atulya Sarin, the professor in question, teaches at Santa Clara University and has written on currencies in a book known as “Foundations of Multinational Financial Management”. However, he also seems to hold a position as a naysayer of Bitcoin, with articles both last April and recently speaking about how it is headed towards a spiral of death due to the reduction of its price below the cost of its mining. He stated in his article: ““As I argued, once Bitcoin’s price falls below its cost of mining, the incentive to mine will deteriorate, thrusting bitcoin into a death spiral...Bitcoin has no cash flows. In that respect, it is more like gold, in that its value is driven to some extent by its desirability and potential uses, but mostly by its cost of mining.” However, Sarin fails to notice that the difficulty of mining on Bitcoin adjusts itself every 2016 blocks. This translates to about 2 weeks if the blocks are produced at Bitcoin’s usual rate of one block every ten minutes. This effectively absorbs any significant changes in the price, without considering that miners operate across a margin of profitability. A higher mining difficulty would mean that it is more difficult to find blocks, and is deployed whenever the hashrate on the network increases. The opposite also occurs when the hashrate decreases, it becomes easier to find blocks on the chain. Moreover, while the price of Bitcoin treats the all-in cost of mining as a floor, which was recently broken at around $6000, it is not a determiner of the value of the network. Granted, the price of the coin is mostly derived from speculative trading. The value of the network instead lies in its use-case: a decentralized, permissionless, trustless and uncensorable payments system. Sarin also picks on the current buyers and miners of the Bitcoin platform, stating that they have been “run-of-the-mill, greed-driven investors”. While that may hold true for the miners which have now become huge operations driven by corporations, the spirit of what drove the coin is still alive. In a bear market where most buyers are down, orders of magnitude from what they invested in, strides continue to be made in the sentiment of the space even as weak hands capitulate. Chanting the common economist’s mantra, Sarin predicts that Bitcoin was going to go to zero. His logic is as follows: “However, the number of miners cannot fall below a certain level, because without the miners providing the computing power to maintain the ledger, the bitcoin blockchain will not remain viable...If the price continues to drop and the cost of mining does not fall correspondingly (the cost of mining will algorithmically decrease, but not necessarily to same extent as the decline in prices), Bitcoin will quickly go to zero.” The fatal flaw in his arguments is present here as well, as profit margins for miners currently ranging from over 50% to being slightly unprofitable. As mentioned previously, most miners are now run by corporations,and can withstand a huge shock loss. However, as unprofitable miners leave the network, the rest of the network’s difficulty accordingly adjusted to be more profitable for the ones that stay on. Sarin also states that this is different from previous drops in difficulty, as the recent decline “dwarfs the magnitudes of past declines”. This should not be a matter of concern, and instead can be looked at as a way to appreciate the beauty of the dynamic difficulty changes of the Bitcoin network. While it is easy to say that Bitcoin is headed towards zero due to it’s nature as a speculative trading asset, the fact remains that the world has seen nothing similar to Bitcoin. It effectively reinvents the concept of money, something that the world has run on. Something that has built society into the giant it is today, and allows centralized institutions to enforce the need of trust in everyday lives of everyday people. This has effectively been disrupted to allow money to be accessible to everyone without permission. Therefore, as long as there exist two individuals in the world that seek the freedom of money and the value that they create, Bitcoin will not go to zero. The post Bitcoin [BTC] “going to 0” because of death spiral phenomenon allows for the appreciation of mining difficulty adjustments appeared first on AMBCrypto.

8 days ago

Crypto Market Update Dec.4: Ready for the next episode after a calm week

It’s been a quiet week for the market after the price drop of recent weeks, the downward trend has stopped, and the entire market is ready to see what happens next. It seems that weak hands are real and money is changing hands as new players enter, and the order book is renewed. In addition, mining difficulty fell by 15%, the sharpest decline since 2011. The alternative coins, Altcoins, had a slightly more turbulent week with a mixed trend, with many of the altcoins showing a positive trend, especially when trading against Bitcoin. Ethereum Classic’s development team announced that they are abandoning the development due to difficulties in financing their operations. It will be interesting to see how long ETC will continue to star in the top 20 even though its developers have abandoned ship. A 51% attack on Vertcoin reminds us of the weakness of small and unsafe Alt networks. The ICO phenomenon continues to lose momentum, and despite the SEC’s warnings, many companies are trying their luck in the airdrops scene. The market cap is around $128 billion, and the trading volume is stable at $14 billion Bitcoin Dominance at 53.9%. Crypto News & Headlines Mainstream Media Says Bitcoin Is Dead: Is It The Time To Buy? The media have incorrectly described Bitcoin’s recent plunge as a “dead” end for the cryptocurrency. However, it is not what it seems, and this may just be the best opportunity to buy low. G20: Crypto Taxation System to Be Developed Soon. G20 member nations plan to release a system that makes it easier for cryptocurrencies to be aligned with the global tax system. $257 Million Worth of BTC Were Sent From an Inactive Address. One of the top twenty wealthiest Bitcoin address moved 66,233 BTC ($257 million) for a transaction fee of less than $50 after being inactive since 2014. Who owns the wallet? Asus crypto mining partnership is perfect for gamers who live with their parents. Gamers who live with their parents can now make money by mining cryptocurrency with their idle graphics card. They only have to install an application that was developed to run in the PC’s background. Morgan Creek CEO Says Bitcoin’s Value Could Be 20x Current Value In The Next 10 Years. In an interview on CNBC’s Fast Money, Mark Yusko said the current state of the market makes Bitcoin a good investment choice for both the long-term and short-term. A 20x increase in the next ten years is attainable, according to him. Nasdaq confirms it will list Bitcoin Futures. Previously, it was a rumor, but Vice President of Nasdaq’s media team, Joseph Christinat has confirmed that Bitcoin Futures will launch on the world’s second largest exchange in the first half of 2019. Charts The weekly charts had moved here. The post Crypto Market Update Dec.4: Ready for the next episode after a calm week appeared first on CryptoPotato.

8 days ago

South Korea Reveals Plan to Tax ICOs and Cryptocurrencies

The Finance Ministry of the South Korean government announced a plan to tax initial coin offerings and digital currencies in accordance with the creation of the taxation infrastructure and international trends. South Korea Closer to Legalize and Tax Crypto Fundraisers as New Government Takes Over Hong Nam-ki, Minister of Economy and Finance and Deputy Prime Minister nominee, has submitted a written answer to the National Assembly for his confirmation hearing. The tax plan includes setting up a task force to study how other countries approach the issue, Korea Times reported. “A task force consisting of experts from relevant government agencies including the National Tax Service and the private sector will be formed to examine overseas examples and hammer out the taxation plan”. Initial coin offerings are currently banned in South Korea, but Hong admitted to the possibility of lifting the ban after carefully analyzing international trends, investor protection issues, and market conditions. “We will determine our policy orientations on ICOs with relevant agencies after reviewing the results of the financial regulator’s market survey and getting feedback from experts.” Hong pointed out that the national regulatory framework should try to follow the examples of other countries while no international guidelines exist at the moment. With about 2,000 digital currencies currently being traded globally and 160 domestically, Hong defined cryptocurrency as “electronic signs of values issued privately”. “Cryptocurrencies are a new phenomenon and so there is no internationally agreed regulatory framework. Furthermore, there are such lingering problems as the market overheating and investor protection. Therefore, we need to be careful in building the regulatory framework.” The South Korean government has excluded cryptocurrency exchanges from the category of venture enterprise in August 2018. Operators are now bundled together with bars and nightclubs. In his answer to the National Assembly, the finance minister nominee explained that the exclusion was out of concerns over cryptocurrency exchanges’ vulnerability to illegal acts and that operators are separate from distributed ledger technology. “We will do our utmost to nurture blockchain technology as nine out of the 10 business types classified as blockchain-related businesses by Statistics Korea excluding the crypto exchanges can be still acknowledged as venture companies.” In October 2018, the Financial Services Commission chairman Choi Jong-koo insisted that initial coin offerings should remain illegal in the country for its risks to investors. Lawmakers, however, have shown interest in revising South Korea’s Electronic Financial Transaction act in order to recognize such fundraisers. There are currently five crypto-focused bills pending in the National Assembly that seek regulations for cryptos and ICO issuance. The National Assembly Special Committee chair Lee Hye-hoon said the blanket Initial Coin Offering ban will be lifted in the “near future”. A group of ten legislators is pushing for a new proposal allowing public research organizations and centers to issue tokens under the supervision of the FSC. Image from Shutterstock The post South Korea Reveals Plan to Tax ICOs and Cryptocurrencies appeared first on NewsBTC.

8 days ago

Cryptocurrency Market Update: Binance Coin (BNB) Climbing as EOS Gets Crushed

FOMO Moments Markets recouping daily losses, Binance Coin and Nem are in the green, EOS is getting hammered. The downward motion on crypto markets has continued today as digital currencies slid further back before making a recovery. Monday’s declines have carried on into Tuesday during the Asian trading session but total market capitalization has managed to recoup to similar levels below $130 billion a couple of hours ago. Bitcoin bulls have failed to keep the digital currency above $4,000 causing it to drop into dangerous territory. A 5% dump saw BTC fall to an intraday low of $3,840 a couple of hours ago before it managed to bounce back. At the time of writing Bitcoin had pulled back to just above $4k again. Ethereum has fallen back to $112 and does not look like making any discernible recovery anytime soon. Altcoins are all still red at the moment with some getting more punishment than others. In the top ten EOS is getting pounded with a 10% dive to $2.55 as more centralization woes plague the project. As has been the case for a few weeks now Bitcoin Cash is collapsing, it was the worst performing crypto in November and has lost another 6% today. There is only one winner in the top twenty at the moment and that is Binance Coin climbing 9% on the day. BNB has reached $5.60 as it partners with Decentraland with a MANA competition and crypto Airbnb platform Tripio. Nem and Dogecoin are also gaining a little but the rest are falling, Ethereum Classic and Bitcoin Gold by the most at 6%. Pump of the day goes to Factom again adding 27%, ODEM and Pundi X are also performing strongly at the moment with double figure gains. As predicted, yesterday’s fomo altcoins are dumping today, namely Centrality, Mithril and MobileGo, all dropping double digits along with EOS. Total crypto market capitalization has managed to bounce back to yesterday’s levels after hitting a low of $124 billion a couple of hours ago. At the time of writing it is around $129 billion which is no gain over Monday. Since last Tuesday markets have gained 4% but since the same time last month they have been smashed 38%. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Binance Coin (BNB) Climbing as EOS Gets Crushed appeared first on NewsBTC.

8 days ago

NEO Releases Monthly Report, Europe Hackathon Tour Has Concluded

NEO Global Development talked about its activities and achievements during the previous month in the newly published monthly report for November. The NGD report focused on its events, the NEO Hackathon Tour and the NEO Wallpaper Design competition. It also listed the updates it has done to the blockchain network, conferences, interviews, and other developments. New Updates on the NEO Network NGD added a new plugin type called IPersistencePlugin. It changed the open wallet for RPC server after startup and allowed the creation of an iterator from the array in NEO.Iterator.Create API. It also fixed some issues with the NEOVM which led to an inconsistent execution state and fixed the “too many open files” error. It also fixed an issue with MerkleTree. To remove the risk of forking, it optimized the consensus mechanism, and it is currently under test phase for enhancing stability. The vitality of the consensus mechanism is guaranteed by a commit phase and a regeneration strategy. NGD has also built a consensus node monitoring system for logging which is composed of three parts, LogPlugin, LogServer, and LogMonitor. NGD’s New Events and More NEO also highlighted its three-week-long Europe Hackathon Tour. The last of the hackathon events was held on November 3 and 4 in Zurich, Switzerland, where over 40 developers participated. The overall event was attended by more than 200 participants who submitted over 20 works. The event helped NEO to establish a greater presence in Europe. Another important event was the NEO Wallpaper Design Competition in which 100 works were submitted by designers in more than ten countries. The event was created to celebrate the two-year anniversary of NEO main net. NEO Open Class also held its sixth session in Shanghai this month. NEO going to conduct a new plan for the Open Class to enhance the experience. The program will resume in the first quarter of 2019. NGD also launched NSPCC in a Saint Petersburg meeting on November 30th. NSPCC will work on building a distributed file storage system based on the NEO blockchain as well as blockchain incubation in Russia. NEO Releases Monthly Report, Europe Hackathon Tour Has Concluded was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

9 days ago

Brad Garlinghouse, Ripple’s CEO, Predicts Banks to Become Crypto Custodians In 2019

Brad Garlinghouse, the CEO of Ripple has experiences ranging from being the CEO of Hightail a file-sharing site, President of Consumer Applications at AOL and a Senior Vice President at Yahoo. His business acumen and experience is pretty much noted given the expansion Ripple has gained in the last one year in terms of partnerships. At the Singapore Fintech Festival Garlinghouse confidently spoke about how banks will start holding Cryptocurrency assets like XRP. The main reasons cited by him include regulatory clarity and the opportunity to make money through Cryptocurrency. Garlinghouse predicts the Association of South Eastern Asian Nations (ASEAN) banks will be the first to offer custodian services of Cryptocurrency. ASEAN region consists of ten members which include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. These countries have a population of nearly 640 million people and a combined GDP of $2.57 trillion. ASEAN countries seem to be the most progressive regarding Cryptocurrency adoption. For example, Thailand has introduced a framework that has balanced consumer protection with innovation such as Cryptocurrencies. Therefore, Ripple finds it beneficial to solve real-world business use cases such as improving cross-border payments across the ASEAN region. Zerocrypted Opinion Ripple is seen to form significant partnerships this year including several large banks. Ripple has already partnered up with large ASEAN banks such as CIMB Group. CIMB Group is the fifth largest bank in the ASEAN region. The ASEAN bank will use Ripple’s technology for cross-border payments. Along with this Ripple has nearly 50% of all it’s global customers based in the ASEAN region with Singapore headquarter expanding by 200% in the past year. Sam McIngvale, who is leading the Coinbase Custody project believes that $20 billion worth of Crypto is sidelined till custody solutions start to make sense. Thus if Garlinghouse is right about Crypto custodian solutions being adopted by banks in 2019, it could also help the Cryptocurrency markets tremendously. Image Source - Flickr The post Brad Garlinghouse, Ripple’s CEO, Predicts Banks to Become Crypto Custodians In 2019 appeared first on Zerocrypted - Your Daily Cryptocurrency News, Guides And More.

9 days ago

Bitcoin Mining: Everything You Need to Know

Bitcoin mining is a term that everyone in the cryptocurrency and even many outsiders are familiar with. This is a process performed by high-powered computers (also known as nodes), which solve complicated computational math problems. While distinct, there are certain similarities between bitcoin mining and actual mining for precious metals such as gold, for example. Both processes are carried out with the intention to earn a reward. Furthermore, bitcoins actually exist in the bitcoin protocol but they haven’t been brought out yet - just as gold exists in the ground but it hasn’t been mined yet. But the aim of bitcoin mining is, however, twofold. For once, when the above-mentioned high-powered computer or any other type of mining hardware, for that matter, successfully solves the complex math problem on the network of Bitcoin, they produce a new bitcoin. On the other hand, by solving the computational math problems, bitcoin miners are actually making the payment network a secure through the proof-of-work consensus algorithm. Why is Bitcoin Mining Necessary? In order to break down bitcoin mining, there are a few important considerations that need to be taken into account. Consumers tend to trust different types of printed fiat currencies because they are backed by central banks. In the US, for instance, this is the Federal Reserve. This is even true for digital payments made with fiat currencies. Bitcoin, however, is not regulated by any central authority. It can be said that it is ‘backed’ by the computing power, which secures the network. This vast network of computers and mining hardware records transactions and make sure that they are accurate. Unlike central authorities, however, bitcoin miners are spread throughout the entire world and record the transactional information on a public ledger available to anyone. This ledger can be viewed using a block explorer and there are many different websites that provide this service. In other words, bitcoin mining is necessary for two different reasons - first, it is needed to create new bitcoin and second, it’s needed to confirm the transactional information. So, in theory, if you don’t want to buy Bitcoin, you can earn it through mining. Whether or not that’s efficient for you as an individual miner, however, is a different story. How Does Bitcoin Mining Work? In order for a bitcoin miner to get block rewards, there are two conditions which need to be met. First, the miner needs to confirm a certain amount of transactions and second, which is the trickiest part, solve a complex computational math problem. Put simply, if that’s at all possible, each miner is competing with all of the others to come up with a 64-digit hexadecimal number which is referred to as a “hash” which is less than or equal to the hash which is targeted. In other words, the computer will be spitting out different hashes at a certain rate per second guessing all of the possible 64-digit numbers until they reach the correct solution. Therefore, computational power is essential - the more powerful your mining equipment, the larger hash rate per second you’d be able to achieve. This is why the Bitcoin mining hardware is particularly important. Naturally, the cost of mining would be based on a the operation costs such as electricity, internet connection, hardware maintenance, and so forth. This is the main reason for which back in 2013 bitcoin miners started to use machines which were specifically designed for mining cryptocurrencies. These are called Application-Specific Integrated Circuits or ASIC mining, for short. ASIC mining devices can cost a serious amount of money but are more efficient than traditional computers. There are a few important things to be considered when it comes to BTC mining. These are some of its pillar components, so to speak. Blocks One of the things to be aware of in the world of Bitcoin mining is blocks. Transaction data is recorded in files which are called blocks. Think of it as a page from your city’s recordbook. Blocks are organized into a chain in chronological order - hence, blockchain. New transactions, as they are being confirmed by miners, go into new blocks, with each new block is being added to the end of the chain. This is why blockchain is also referred to as records of blocks. Block Rewards Is Bitcoin mining profitable? This is probably the most commonly asked question. Unfortunately, there is no one answer. Block rewards are what miners compete for. Other cryptocurrencies such as Bitcoin Cash, for instance, also have their own block rewards which differ from those of Bitcoin. At inception, every single bitcoin block reward was worth 50 BTC. However, the protocol works in a way where the block reward is being halved after 210,000 blocks have been discovered. This takes roughly around four years to complete. As of July 9th, 2016, the reward for discovering one block is 12.5 BTC. So is Bitcoin mining profitable? It depends. One would have to calcula

9 days ago

November Crypto Review: One Third of Cryptocurrency Market Wiped Out

Biggest losers in crypto for the month; Ethereum, Bitcoin Cash, EOS, Cardano, only XRP and NEM lost less than 20%. November has without a doubt been the worst month of the year for crypto markets. It marks the ninth month this year that markets have fallen and the sharpest single month decline for around four years. Over $70 billion, or one third of the market, was wiped out in November plunging all altcoins to their lowest levels for well over a year. Bitcoin had its worst month for seven years dumping around 35% over the thirty day period. Starting out at over $6,500 on November 1st, Bitcoin plummeted to around $4,280 by the end of it. BTC hit a low point for the year just below $3,600 on the 25th marking a record dump of 45% in less than a fortnight. Ethereum’s pain was even greater as it hit a low of around $100 which it has not been near for 18 months. ETH fell over 50% from monthly high to low and over the course of the whole month the loss was around 42% as it crashed from $200 to $115. XRP could be considered as one of the survivors of the month from hell as it actually took and held second spot from Ethereum. Compared to its siblings XRP came out relatively well with a loss of only 15% over the course of November. Stellar has also been more resilient that the rest by usurping Bitcoin Cash in fourth spot. XLM lost just under 30% during November which beats Bitcoin and Ethereum. Bitcoin Cash was not so fortunate getting hammered a whopping 60% during November. BCH started at over $420 and ended close to $170. The big fracas with the hard fork and hash war did this crypto no favors whatsoever. EOS was also a big loser during November with a 45% dump from $5.20 to $2.87. Likewise with Litecoin getting blitzed around 36% during the month as it fell from $50 to $32. Even stablecoins such as Tether were not immune as USDT lost its peg and hit a low of $0.951 early on in November and then dropping below $0.975 six more times during the month. Cardano is rapidly falling down the chart and has dropped a place every month or so, last being the hardest with a 45% dump. Monero dropped a similar percentage also losing it places in the market cap chart. One of October’s survivors, Tron fell around 36% in November, Iota lost 38% and Dash dumped almost 40%. Nem did not fare too badly as it only fell by 18%, but Binance Coin got hurt with 46% declines likewise with Ethereum Classic dumping 47%. Neo took a huge hit losing 49%, Zcash slashed 30%, and rounding out the top twenty Bitcoin Gold also losing 30%. Most cryptocurrencies were left in pain at their lowest levels for on average 15 months by the end of November. Only a few of the top altcoins managed to limit losses to under 30% and those were XRP, XLM and NEM. The biggest losers in the top ten were Ethereum, Bitcoin Cash, EOS, and Cardano. All figures from Coinmarketcap.com Previous months: February | March | April | May | June | July | August | September | October The post November Crypto Review: One Third of Cryptocurrency Market Wiped Out appeared first on NewsBTC.

9 days ago

Bitcoin Economist Says Zoom Out, “A New Monetary Asset Steadily Growing in Value and Security”

Bitcoin price might have taken a dump along with its mining difficulty and hash rate but if we look at the bigger picture by zooming out, Bitcoin is growing as shared by Bitcoin economist Saifedean Ammous. Looking at the Bigger Picture Bitcoin is currently down 80 percent from its all-time high (ATH) of about $20,000 trading at $4,000 approximately. With a market cap of $70 billion, it is managing the daily trading volume of just about $5.2 billion. As the Bitcoin price drops, the hash rate has taken a fall which is shown as the “estimated number of tera hashes per second (trillions of hashes per second) the Bitcoin network is performing,” as the miners shut down their rigs. Source: blockchain.com Furthermore, the bitcoin mining difficulty which is “a relative measure of how difficult it is to find a new block. The difficulty is adjusted periodically as a function of how much hashing power has been deployed by the network of miners,” is taking a hit as well. Source: blockchain.com If we take a look at the total transaction fees that is the total value of all transaction fees paid to miners (not including the coinbase value of block rewards), it has subsequently dropped severely moving according to price as per the Blockchain.com data. However, bitcoin experts and enthusiasts believe this is in no way end of Bitcoin and crypto and one should stay focus the development aspect. Bitcoin economist and the author of The Bitcoin Standard, Saifedean Ammous says, “If you zoom out and ignore the daily noise, the inconsequential drama, the helpless screeching nocoiners, this is really all it comes down to: A new monetary asset steadily growing in value and security.” Bitcoin's ten years in two lines: pic.twitter.com/Y2BcsQh0C2 — Saifedean Ammous (@saifedean) December 1, 2018 Bitcoin is certainly here to stay as development and interests keep on growing. Bitcoin as put by Neil Woodfine who works at Blockstream, “is a software solution to the MONEY problem. It doesn’t get much more MARKET that this.” He further Tweets, “Market forces—otherwise known as economic reality—drive bitcoin’s existence and can also drive it out of existence. Bitcoin continues to work so well precisely because it leverages the economic incentives of multiple antagonistic actors to perpetuate and expand the system.” However, it can be propelled further as a Christmas gift as pointed by Morgan Creek founder, Anthony Pompliano, Want to get your kids a lifechanging Christmas gift? Buy them Bitcoin and explain why it’s important. They’ll thank you later. — Pomp 🌪 (@APompliano) December 2, 2018 The post Bitcoin Economist Says Zoom Out, “A New Monetary Asset Steadily Growing in Value and Security” appeared first on Coingape.

9 days ago

Crypto Market Update: Weekend Gains Wiped Out in $5 Billion Fall

FOMO Moments Monday is red as markets wipe out weekend gains, Bitcoin Cash, Stellar, Iota sliding, Ethereum Classic staying afloat. It didn’t last. Crypto markets are back down again today after recovering a little over the weekend. The complete lack of buying pressure at the moment indicates that the bears are still in full control of things. Total market capitalization has been pushed back down to $130 billion again. Bitcoin has found a consolidation channel between $4,000 and $4,300 and it doesn’t seem to have the momentum to break on the upside. BTC is down 3% back at $4k at the time of writing. Two ‘Bart Simpson’ type chart patterns have formed over the last week indicating that BTC could be about to fall again. Ethereum has already fallen, dumping 3.5% since yesterday back to $113. Altcoins are all in the red again today, wiping out weekend gains. Bitcoin Cash is taking the biggest hit of over 6% at the moment as it slides further down the chart. Stellar has held on to fourth, but only just as it too has lost over 5% on the day. The rest of the top ten is dropping 2 - 4 percent at the time of writing. Further down the chart there is only one beacon of green in the top twenty. Ethereum Classic is up over 3% on the day which has taken it over $5 again. A recent Github heist and resolution may be the cause of the current momentum for ETC. The rest of the altcoins in this section are falling 2 - 5 percent on the day. Today’s big dose of FOMO is going to Mithril which has pumped 32% overnight. MobileGo and Decentraland are also in double figures at the time of writing with 14% gains each. Unsurprisingly previous pumpers are now dumping, namely Bitcoin Private and Theta Token down 15% and 12% respectively. After laying off a whole bunch of staff, Steem is also getting hit today. Around 3.7% has been lost from crypto markets since Sunday. As another $5 billion flows back out of digital currencies market capitalization drops back below $130 billion again. Markets are back to the same level there were at this time last week and appear to be range bound between $130 and $140 billion. Bitcoin’s dominance is still around 53.6% so the ratio has remained stable for a while. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Crypto Market Update: Weekend Gains Wiped Out in $5 Billion Fall appeared first on NewsBTC.

9 days ago

Ripple Executive Says Asia Has ‘Biggest Appetite’

At a recent conference, Dan Morgan, an executive with Ripple, says Asia has the “biggest appetite” in terms of demand for XRP. 2018 has been a brutal year for cryptocurrencies. Bitcoin has fallen from its all-time high of nearly $20,000 back in mid-December 2017 to just over $4,000 today. However, Ripple (XRP) has actually had a pretty sterling year as it continues to make inroads into the worldwide banking system. At a recent conference, Dan Morgan, Head of Regulatory Relations for Europe, offered some opinions on what markets hunger for XRP. Big in Asia At the CryptoCompare & MJAC London Blockchain Summit, Dan Morgan was asked about what regions Ripple had the most presence in. He replied: It’s very early days, but we see the biggest appetite in Asian markets, in terms of demand, so remittance demand, whether it is corridors that are under-served because correspondence banking is too costly... So, we feel that there is demand. Liquidity, in terms of digital assets, most liquidity we have... is in Asian markets by some distance. However, Morgan didn’t say everything was perfect in Asia. He discussed the need for clarity when it comes to regulations that impact cryptocurrencies and blockchain. He said: Again, we see a number of pockets around Asia where they are further ahead that we are here... Thailand, I talked about. Obviously, Japan is another place ... So, you are absolutely right, it is Asia. I wouldn’t want to pin down exact markets... In Thailand, for instance, with that regulation, I think Siam Commercial Bank... is really active now in terms of settlements, digital assets activity. Ripple Going Strong XRP has dropped from over $3 at the beginning of the year down to 36 cents today. While the price has been woeful for those who bought it early in the year, Ripple has been making tremendous strides throughout 2018 on a different front. Ripple’s offerings, such as xRapid, have been doing extremely well. Each month brings a few more banks into their network, such as Banco Santander and Saudi Arabia’s National Commercial Bank. The San Francisco-based company is expanding greatly into the Middle Eastern market and has opened an office in Dubai. The company’s latest earnings report shows that XRP sales doubled in the third quarter of 2018 in comparison to the previous quarter. The company also flexed their payment remittance might by sending $50 million in just 2 seconds, and all for a mere cost of 30 cents. XRP is doing so well that it took over the second place spot on the cryptocurrency top ten chart from Ethereum. Currently, XRP has a market cap of $14.5 billion while Ethereum has $11.7 billion. What do you think about how Ripple is faring this year? Let us know in the comments below. Images courtesy of Shutterstock. The post Ripple Executive Says Asia Has ‘Biggest Appetite’ appeared first on Live Bitcoin News.

9 days ago

Former Ernst & Young Analyst Disillusioned by the Blockchain

A recent article in Barron’s describes Angus Champion de Crespigny, who spent ten years at professional services firm Ernst and Young and led the blockchain financial services division for years and was the subject of the article entitled “This Blockchain Believer Turned Heretic Is Still Bullish On Bitcoin,” as a “major skeptic.” Champion de Crespigny describes

10 days ago

Cryptocurrency Market Update: 17% Recovery Since Last Sunday’s 2018 Low

FOMO Moments Crypto markets are bouncing back again, Bitcoin SV, Cardano, Tron and Maker recovering well. There has been a marginal recovery from yesterday’s market dump this Sunday and things did not fall off the cliff again as we have seen in recent weeks. Total market capitalization has recovered to climb back to around $135 billion at the time of writing. Bitcoin hovered just below $4,000 on Saturday which served as support as it managed to rally back to over $4,200 adding 5% on the day. Since the middle of last week BTC seems to have started consolidating between these levels. Ethereum has also recovered 4% since yesterday and is back to $118 again. ETH has really struggled to get off the floor since its big November dump. Altcoins are mostly green this Sunday as Bitcoin SV seems to be making the most progress in the top ten at the moment adding over 9% on the day taking it back to $100. Cardano has also recovered well with a 7% gain and the rest are putting 3 - 5 percent back on today. In the top twenty Tron has just inched above Monero to take eleventh spot with a gain of almost 7% on the day. Iota, Neo and Ethereum Classic are all adding 6% to their prices during today’s Asian trading session. The rest have made around 4 percent aside from Zcash which hasn’t really moved today. Just outside the top twenty Maker is post a decent gain of 13%. Having a big fomo induced pump right now is a new entry to the top one hundred - Free Coin. A minor exchange listing seems to have initiated what will surely be another p&d with a 55% surge on the day. Also pumping at the moment is Centrality up 33% right now. Getting beat up at the red end of things is Theta Token predictably as it has been pumping for a few days. There are no double digit losers at the time of writing as nearly all of the altcoins are recovering this Sunday. Crypto markets have made about 4.5% since the same time yesterday bringing total market cap to $135 billion. Trade volume has stabilized at around $15 billion and markets have made over 17% since their lows last weekend. Last Sunday was the lowest point of 2018 when total market cap dropped to $115 billion. November in general has been the month from hell as markets collapsed by a third. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: 17% Recovery Since Last Sunday’s 2018 Low appeared first on NewsBTC.

10 days ago

Stellar Registers 500% Increase in Active Accounts During the Last 6 Months

The Stellar Network continues to grow not only in terms of market capitalization but also in the interest it generates in the public. XLM favorable behavior has led it to increase its price to the point of surpassing Bitcoin Cash, displacing it from fourth place in the ranking of most important cryptocurrencies by capitalization. According to data obtained from Stellar Expert, a Block explorer and analytics platform for Stellar Network, its growth has been especially strong during the last half of the year. Stellar started the year 2018 with 162,847 active accounts. By mid-year —in the climax of a bearish streak — over 512k accounts had been registered. However, after that, and during the last semester of 2018, Stellar’s expansion was remarkable, exceeding 2 million active accounts. These figures represent more than ten times the number of users the network had at the beginning of 2018 and five times the number of registered users registered at the start of the second half of the year. Stellar’s official Reddit account shared the news with emotion, commenting that “It took almost four years to get from 0 to 1,000,000 accounts, and only two months to double the number” This prompted a series of responses in which users shared their impressions about what could be the causes of such extraordinary growth. 2,000,000 accounts from Stellar For many users, the most important causes of growth are the massive airdrop conducted on the occasion of the partnership between Stellar and the famous Blockchain.com wallet and the exponential growth of Diruna, an Indonesian project that seeks to develop a Marketplace based on Stellar technology. The airdrop announced by the Stellar Foundation consisted of more than $20 in XLM for every user of the famous Blockchain.com wallet (formerly known as blockchain.info) and its hardware wallet. The total amount of the airdrop is $125 million, making it the most substantial airdrop token in the history of cryptocurrencies. Likewise, the growth of the Diruna project has registered more than 1,000,000 active accounts, which makes it one of Stellar’s most important developments. Diruna is an online marketplace project that allows payments in DRN, a token that runs on Stellar’s blockchain. The post Stellar Registers 500% Increase in Active Accounts During the Last 6 Months appeared first on Ethereum World News.

10 days ago

Stellar [XLM] Bullishly Exploding? Currency Reaches 2 million Wallets following $125 million Airdrop

Stellar XLM, the number four cryptocurrency by market capitalization has recorded a huge 1 million wallets increase in the wake of its $125 million air drop in collaboration with Blockchain.com wallet which is considered one of the most lavish air drops in the cryptocurrency industry. The Stellar network had ~1 million wallets as at July this year, meaning the organization experienced a 100% growth in the number of active wallets on the network in less than 4 months. The number of wallets had grown since January 2018 to reach the 1 million in July, making the increase a major feat in the history of the network. Stellar is one of the top altcoins known for cross-border payments supporting all currency pairs. The open source decentralized protocol facilitates digital currency to fiat currency transfers and is supported by the non-profit Stellar Development Foundation. The network now accounts for 25% of all altcoin wallets in the cryptocurrency industry. XLM broke a record as the best performing cryptocurrency among the top ten this week according to Coinmarketcap.com. This surge may be as a result of the increased number of active wallets on the network. The asset saw an increase of 7.43% within a 24 hour period during the recovery period experienced within the week. Meanwhile the market has been on the rise today and all top ten cryptocurrencies are in the green except BCH which has been struggling during the week. XLM is trading at $0.167614 with a gain of 4.44% while Bitcoin the leading cryptocurrency is currently trading at $4,247 with a gain of 5.3% after a hover around the $4,000 mark yesterday. Stellar is the number one competitor of XRP probably due to their shared niche of cross-border payments. Although Ripple is working tirelessly to stay ahead of the payment game, Stellar may be catching up soon if the current rate of growth is sustained. Some members of the crypto community believe the recovery is likely to be sustained. If this happens then XRP may be facing very tough competition from XLM. the year 2019 may be a good year for cryptocurrencies and those focused on payments such as XRP and XLM may be at the forefront of the market as the demand for payment services is growing on a daily basis. It will be interesting to see what happens in the next few days and the rest of the year. The post Stellar [XLM] Bullishly Exploding? Currency Reaches 2 million Wallets following $125 million Airdrop appeared first on ZyCrypto.

11 days ago

Top Asia Crypto News Roundup from Nov 26- Nov 28

Top News in Asia from Monday through Wednesday Binance is looking to create a new unified stablecoin market. http://bit.ly/2P7AiY2 ‘Many crypto exchanges have expressed interest In joining our regulatory sandbox’, said CEO of Hong Kong Securities and Futures Commission. http://bit.ly/2ztCJPG Given recent mining rig price decline-induced FUD, F2Pool founder Mao Shixing discusses what’s happening: http://bit.ly/2zxXols Bitmain is facing a class action lawsuit of $5 million from an LA resident that alleges its S9 miners mined cryptocurrency for its own benefit prior to being configured on its customers’ devices. http://bit.ly/2P8MN5A Coin and Token News Tether launched a redesigned platform for direct Tether redemption via fiat and started accepting applications from new users. http://bit.ly/2zoP8nZ Exchange News Upbit, South Korea’s largest crypto exchange by volume according to CoinMarketCap, has been approved by the Korea Internet and Security Agency for having a strong infrastructure in place. http://bit.ly/2ztiHEG Hong Kong-based cryptocurrency exchange OKEx is delisting a second swathe of trading pairs due to “weak liquidity”, removing a further 49 trading pairs from its order book:http://bit.ly/2TOPjS1 Hacked Japanese cryptocurrency exchange Coincheck has begun trading a wider range of assets Nov. 26, ten months after funds worth over $530 million were stolen. http://bit.ly/2P7gSSS An overview of the quant fund Amber AI’s allegations on OKEx. http://bit.ly/2P6q7Tq Tether at one point this week became the seventh most valuable crypto in ranking after overtaking Litecoin amid some intense selling in the past few days: http://bit.ly/2KAg48u Regulation News South Korea’s Ministry of Science and ICT, and the National Election Commission will develop a blockchain-based online voting system by December. https://zd.net/2P6BpXG Malaysia will enact regulations for cryptocurrency and Initial Coin Offerings in Q1 2019. http://bit.ly/2P5iyfN A new Singapore bill will put electronic wallets and digital payment tokens such as bitcoindirectly under the supervision of Singapore’s central bank, the Monetary Authority of Singapore, after realizing that the existing legislation does not cover them: http://bit.ly/2TOp0v8 A minister serving in India recently stated that a local state was working on plans that would help make it possible for local firms to operate without having to rely on the policy frameworks put in place by the National government: http://bit.ly/2DNUAne Business News Hong Kong’s 2nd largest container terminal operator adopts blockchain developed by Maersk and IBM to document logistics data: http://bit.ly/2Sf6A54 In case you missed it *NEW* A Weekly Report on the State of Asia Cryptocurrency and Blockchain Based on our reader feedback, we are introducing a new weekly series to contextualize and analyze the latest happenings in Asia. So far we have come up with 4 high-level topics, and every week we will be writing about one of these topics, and rotating through them in the following order. China (providing commentary on recent regulatory trends, media sentiment, and touching on exchanges and company developments) Asia Countries ex-China (providing commentary on recent regulatory trends, media sentiment, and touching on exchanges and company developments) Exchanges And Mining (Binance, Huobi, Upbit, Bitmain, Canaan, etc) Crypto Projects and Funding Trends For this week, we published our thoughts on the first and arguably the most important topic — China. Here’s the quick take: China’s Cyberspace administration has been pushing for an acceleration of blockchain standards this month. Simultaneously, in the background, it’s swiftly gathering user information, centralizing data and shutting down user accounts of large tech companies- Baidu Alibaba and Tencent and others. The regulators have also been making moves on education and implementing its internet practices internationally. We are seeing a new digitally-enabled governing central power unveiling before us. We also write about Chinese regulator’s recent crackdown on airdrops, why Hong Kong and China banks are implementing different blockchain technologies and recently mining machine induced market FUD. READ THE ENTIRE POST HERE.

11 days ago

Cryptocurrency Market Update: $10 Billion Dumped as The Dead Cat Bounces

FOMO Moments Crypto markets predictably dumping this weekend, Bitcoin SV, Cardano and Neo getting hurt. As predicted crypto markets have dumped again after a few days of solid gains and the dead cat has bounced. Over $10 billion has flooded out wiping out all progress made this week. Total market capitalization is back below $130 billion and heading south again. Bitcoin led the lemmings once again when it plunged almost 9% from $4,300 to a low of $3,940 a few hours ago. BTC has since recovered to back around the $4,000 level but further losses are likely. Ethereum tumbled in predictable fashion with a loss of over 6% to a $112 low for the day where it currently trades. Altcoins are all bleeding again during Asian trading today. Bitcoin SV dropping the most with over 12% down towards $90, its brother BCH not far behind with an 8% slide. Cardano is losing a similar amount as it slips closer to dropping out of the top ten again. Stellar has retained its fourth spot above Bitcoin Cash despite dropping 6%. The rest in the top ten are dropping 4 to 6 percent on the day at the time of writing. The top twenty is enduring heavier losses this Saturday with Neo, Zcash and Ethereum Classic all shedding 8 to 10 percent at the moment. The rest are falling around 6 to 8 percent on the day. Yesterday’s fomo pump is still going today as Theta Token adds another 40% during the bleed out. It would be unwise to bet against it being the biggest dumper tomorrow however. Factom and MOAC are still climbing at the time of writing. Dumping the pump is Bitcoin Private nosediving 18% on the day, closely followed by Chainlink dropping 15% during Asian trading. Today’s dump has been predicted as crypto markets dropped $10 billion in a few hours. Total market capitalization currently stands just below $130 billion and is poised for further declines which may mirror last Sunday’s big dump to the lowest point of the year. All gains made during the week have now been lost in the 7% slide and there are dark clouds on the horizon in crypto land. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: $10 Billion Dumped as The Dead Cat Bounces appeared first on NewsBTC.

11 days ago

Blockchain Platform’s CEO Sees a Multi-Billion-Dollar Future for the Technology

Lei Chen of Xunlei Technology believes that blockchain could give cryptocurrencies a run for their money when it comes to market cap valuations. While 2017, specifically the last quarter of it, was focused mainly on cryptocurrencies, blockchain technology seems to have risen out of the FOMO ashes to become a business solution that many companies are trying to get their hands on. In fact, it has even resulted in certain platforms changing direction to focus more on disruptive technology. U.S.-based Overstock is one example and so is Xunlei Technology. Good Things Come in Threes According to Fortune, the business has evolved from providing digital services to becoming a blockchain-based platform which develops a range of applications and services. The company’s CEO, Lei Chen, discussed how we could even see a single blockchain platform have a total market cap of $30 billion, nearly half of what Bitcoin has. However, in order to see this, three things need to happen. While speaking at the Fortune Global Tech Forum in Guangzhou, Lei explained that “first, I believe there must be a blockchain architecture that can sustain one-million transactions per second and can have a response time within seconds”. Lei’s company appears to be working on this already. The platform leases unused processing power from personal computers which have resulted in Xunlei Technology accumulating bandwidth. High levels of capacity are essential and even through blockchain is distributed, it doesn’t mean that it is indestructible. An example of this is the hugely popular CryptoKitties app that crashed the Ethereum network. Lei also touched on the impact that blockchain technology can have on data protection and management: Blockchain will challenge the data ownership models of today, because data should be of the people for the people by the people. I think ten years down the road we’re going to see user data in the same way as intellectual property Global Guidelines for Blockchain Technology However, there needs to be clear regulations. Lei believes that this can only happen through a global framework. He explained this as the second goal that needs to be achieved: There needs to be one, somewhat unified, well-thought-out regulation framework that is developed proactively, not reactively. The land of crypto is attempting to do this with a few regulatory bodies aiming to develop a unified approach to regulations. Live Bitcoin News previously reported that Global Digital Finance (GDF) has collaborated with a range of crypto industry professionals to do exactly that. Lastly, Lei believes that adoption is one of the key driving forces stating that “if there is a ten-million user application of blockchain today, we would be seeing the entire technology in a completely different light”. Blockchain technology is being integrated more and more into certain company processes, mostly in a bid to encourage transparency and give users some type of autonomy. The latter can be seen specifically in data management services by allowing people to control what personal information they’d like to share with third parties. Do you think we could see blockchain-based platforms being as successful as Lei Chen predicts? Let us know in the comments below! Images courtesy of Pixabay. The post Blockchain Platform’s CEO Sees a Multi-Billion-Dollar Future for the Technology appeared first on Live Bitcoin News.

11 days ago

🎉 72 HOUR #GIVEAWAY: We are giving away 10 WAX Hoodies to te...

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11 days ago

Daily Cryptocurrency News - 30th November 2018

Here are the most important cryptocurrency news of 30th November 2018: CME Bitcoin Futures - The Last Day of Trading If you’re a Bitmex trader, you probably know that each Friday of every month the CME Bitcoin Futures contracts expires. For the November contract month - the product code BTCX18 had its first trade on September 2018 and the last trade will be on 30th November 2018. “Termination of Trading: Last Day of Trading is the last Friday of contract month. Trading in expiring futures terminates at 4:00 p.m. London time on Last Day of Trading. It can be a coincidence, but today the Bitcoin’s price dropped with over 9% since a few days ago. The main reason of this could be the ending of CME Bitcoin futures. If that’s right, we can expect to see a small increase over the next few days. Back in May, Tom Lee - Fundstrat’s owner - explained more about this: If a trader is long Bitcoin and short the futures, as contracts move closer to expiry, holders may sell a large share of the coins at volume weighted average price (VWAP) to minimize tracking error. But near expiration, may sell the remaining Bitcoin, causing the price to drop, leaving the short position in the futures to close with a handsome profit.” The Bitcoin price is now fluctuating between $3,900 and $4,000 - a decrease since yesterday’s $4,371 value. DASH Partnership With ePaymints & Get Listed On 3XBIT Exchange DASH continue its work even through these hard times. As CZ of Binance would say : been through this many times already. Secret of success? Keep your head down and build. And Dash is following those exact words. Recently, DASH partnered up with ePaymints - a global payment service provider. The reason of this was to promote DASH to a broader user base and increase the adoption of the cryptocurrency. Regarding this partnership, Bradley Zastrow - Dash’s Head of Business Development- declared: “Cash-based and high chargeback industries pay much higher credit card fees on average, and that’s when they are lucky enough to get credit card acceptance - often that’s not an option. This is an obvious use case for Dash, and we’re proud to be recognized by ePaymints as the leading cryptocurrency positioned to solve these payment problems. Already, there are client integration consultations underway, and together, we look forward to expanding the Dash ecosystem.” Apart from this, Dash also got listed on 3XBIT - a new cryptocurrency exchange from Brazil. Right now, its users can trade DASH with Ethereum, Litecoin, Dogecoin, ATM Cash and Smart Cash. The exchange doesn’t have a KYC - unless the user is withdrawing Brazilian’s FIAT currency. However, You’d need a phone number and an email to trade on 3XBIT. Even though DASH’s price is way lower compared to January, the fact that the company continues its development is a good sign for its hodlers. With the future ChainLocks modifications, DASH could soon be among the top ten cryptocurrencies. Could Cardano Be Listed On Coinbase Before Stellar Lumens ? With the yesterday’s ZEC Coinbase listing, people started asking which one would be next. Coinbase announced a few months ago that they are exploring listing 5 new assets on their platform: Cardano (ADA), Stellar Lumens (XLM), Zcash (ZEC), Basic Attention Token (BAT) and 0x Protocol (ZRX). Three of those have already been listed : Zcash (ZEC), Basic Attention Token (BAT) and 0x (ZRX). But which one would be next? And why? EthereumWorldNews believes that Cardano (ADA) have more chances to be listed on Coinbase. The reasons are: Similarities between XLM and XRP that has not been listed on Coinbase since January Cardano’s plans for a purely transparent and decentralized platform We believe that it would be the other way around. Stellar Lumens (XLM) would be the first to be listed there as: Each of the cryptocurrencies listed on Coinbase have a working product - Cardano’s Ouroboros is live on Emurgo servers but its delegation implementation its still in the early development stage, according to Cardano Roadmap. Shelley would make Cardano fully decentralized - Until Shelley would be live, Cardano couldn’t be a purely transparent and decentralized platform. Therefore, it have the same chances as Stellar Lumens to be listed there. Litecoin recently became the 3rd cryptocurrency to be listed on all major exchanges. With the Blockchain.com partnership, Stellar Lumens is the one to follow it. Stellar Lumens already have a working product, tested and re-tested since its inception in 2014. Its years of development offers it a more than trustworthy chance to be listed there first. But we could be wrong. Stellar probably had some issues today, as this transaction appeared today: 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 99,999,999,999 #XLM (16,742,739,060 USD) transferred from Unknown wallet to Unknown wallet Tx: https://t.co/2eTP2DbdN4 — Whale Alert (@whale_alert) November 30, 2018 But, it may be Lighting Network testing as some users think. Or, SpaceBoatDvlp is right : There’s

12 days ago

Stellar Lumens (XLM) Edges Past Bitcoin Cash (BCH) into #4 Spot

The cryptocurrency market’s wild November roller coaster ride has resulted in multiple changes in the top crypto roster. The latest upset? Stellar Lumens (XLM) has unseated Bitcoin Cash as the #4 cryptocurrency by market cap. Stellar Overtakes Bitcoin Cash While beleaguered Bitcoin Cash and Bitcoin SV continue to duke it out behind the scenes, Stellar Lumens (XLM) has managed to slip past BCH to claim the #4 cryptocurrency spot. According to CoinMarketCap, XLM’s current market cap sits at around $3.01 billion - surpassing that of Bitcoin Cash by a margin of just $20 million. Bitcoin Cash has seen its market cap slashed by more than 60% since the November 15 hard fork - from $7.78 billion down to $2.99 billion. This is no doubt due to the one-two punch of the community split between Bitcoin ABC (Bitcoin Cash) and Bitcoin SV (BSV) and the market crash that resulted in a total crypto market cap loss of more than $40 billion in less than 24 hours. Despite Stellar’s tenuous hold on the #4 spot, XLM - like nearly all cryptocurrencies - remains in the red at press time. Coming off of a 3-day gain of more than 23% - from $0.138 to $0.170 - between November 27th and 20th, XLM price has since dropped to $0.158 - a loss of roughly 7%. Other Cryptos Jockeying for Position Stellar isn’t the only cryptocurrency to have ousted top position holders in November. Earlier this month, Ripple’s XRP surprised everyone by leapfrogging past the previously-entrenched Ethereum (ETH) to claim the #3 spot. While XRP has temporarily topped Ethereum in the past, the lead has always been shortlived. This time may prove different, however, as XRP has maintained a fairly stable $2 - $3 billion lead over Ethereum for more than ten days. With so many ICOs liquidating their ETH holdings right now, that doesn’t look to change anytime soon. If the crypto community was surprised by the respective coups of Stellar and XRP, they were positively flabbergasted by Bitcoin SV’s (BSV) debut on CoinMarketCap. Not only did Bitcoin SV get listed on CoinMarketCap within two weeks of the hard fork, but it debuted in the #8 spot - and climbed to #7 in less than two hours! Since then, it has fallen off a bit but is still holding steady as the #9 cryptocurrency by market cap. Do you think that Stellar will be able to hold on to the #4 spot? Let us know in the comments below. Images courtesy of Shutterstock, CoinMarketCap The post Stellar Lumens (XLM) Edges Past Bitcoin Cash (BCH) into #4 Spot appeared first on Live Bitcoin News.

12 days ago

Crypto Regulation Must Not Enable The Tyranny Of The Elite

Imagine working at Deutsche Bank in Frankfurt yesterday. Perhaps you’re a mid-level HR executive. Hans, maybe. Halfway through your second game of Solitaire, police and government agents storm the building. Not a couple of officers with a polite warrant, but a small army - one hundred and seventy men and women in uniform, tearing through the building in search of evidence to support a case. Pause to imagine that. Once positioned to rival the largest Wall Street firms, Deutsche Bank has been hemorrhaging goodwill since it was identified in the Panama Papers as an alleged enabler of money laundering schemes that would make Jason Bateman blush. Money laundering has been repeatedly cited by regulators as a key concern over cryptocurrency. Quite rightly - those who engage in the act are generally involved in criminal enterprises or attempting to evade taxes. Anti-money laundering (AML) procedures are, of course, routine for Hans, who is even now feverishly looking to close his game of Solitaire in case this raid is a corporate effort to punish time-wasting. When he opened his account at a local Frankfurt bank, his credentials were checked; larger deposits are reported to the authorities; suspicious activity is flagged. AML has also become standard in the cryptocurrency world, where customers at exchanges domiciled in regulated jurisdictions are required to subject themselves to AML and Know Your Customer (KYC) procedures. The industry is rapidly moving toward the same level of retail compliance that our friend in Human Resources experiences when he opens a new financial account. Of course, this was not always so - and the well-deserved reputation that cryptocurrency built as a haven for outlaws in its adolescent years has continued to dictate the mainstream narrative around the industry. But if cryptocurrency is so eager to grow up, get a haircut, and stop listening to Billy Bragg, what do we make of the ongoing behavior of The Banks? In a report for Crypto Briefing, bank whistleblower Brian Penny identified that fines totaling $243 billion - handed out to eleven banks since 2008 - suggest the actual amount of fraudulent activity not caught or penalized is likely somewhere in the region of $24 trillion. $24 trillion, between eleven banks, over ten years. That estimate is one hundred and eighty six times larger than the entire market capitalization of all cryptocurrencies. It’s a simple fact that the current financial system enables and rewards the tyranny of a vanishingly-small elite. The consequences for bank crimes are slaps on the wrist: fines for settlement agreements made out of court that concede no wrongdoing on the part of the perpetrators. Can regulators do a better job with digital assets? This week at Crypto Briefing Connect in New York, I had the opportunity to meet a number of significant investors in blockchain and cryptocurrency businesses. Many of them noted that their comfort level (if not necessarily their returns) would improve as crypto became more similar to traditional finance. At Consensus Invest, I only saw one Satoshi Is Female shirt. Almost everyone else wore a suit. The influx of traditional financiers is expected and welcome - the vast majority of bankers are smart, thoughtful, honest and hard-working. Their expertise will be invaluable to the growth of this industry, and their ideas and creativity will inspire adoption, technology, and community development. But there is a caveat. This industry was born of frustration and resentment around the 2008 financial crash - which was the result of the unparalleled greed and opportunism of a powerful minority, within an industry that had been allowed to deregulate, and then self-regulate, with few reasonable checks and balances. The complaint about crypto today is that our industry lacks a legislative framework - that it is unregulated. But how do you explain to Hans, as his office is turned over, that the current financial system is well-regulated... and crypto is full of cowboys waiting to rob his pension fund? I’m all for codifying the rules. I hope there is a strong and clear move toward the recognition of digital assets, toward legislation that protects retail investors, and toward ensuring that the public understands those rules well enough to be able to comply with them. But more than that, I hope that if this regulatory clarity is forthcoming, it contains something extra. I hope that it is better-planned, and better-policed, than the arcane financial structure for corporate market participants that it will join, and perhaps replace. I hope it’s a better framework than the one that currently allows banks to consider billions of dollars in fines as merely the cost of doing business. And that may mean that the people who design the rules should examine cryptocurrency as a New Thing, not an extension of the banks, or any financial system the world has previously seen. Start again: and eliminate the loopholes. It could be done - distrib

12 days ago

Hong Kong Exchange Bit-Z Adds Ripple Dollar Pair

Bit-Z, a popular cryptocurrency exchange from Hong Kong has announced the listing of XRP against the US Dollar. While the exchange lists multiple cryptocurrencies, XRP was not one of them till now. The exchange has a physical presence in ten countries, with a focus on South Korea, Japan, and Singapore. Bit-Z is popular for offering a wide variety of payment methods such as cash deposit, AlyOPay, wire, Neteller, PayPal, WeChat, Western Union, and MoneyGram. Bit-Z saw a volume of $334 million in the last 24 hours. (VS)

12 days ago

Message From Above? Satoshi’s P2P Profile Posted One Word

TL;DR Satoshi Nakamoto’s P2P profile has just had sent an update on his P2P, consists only of the word “nour”, quotation marks included. Many are now questioning whether this is the real Nakamoto, as his profile suspected of being compromised four years ago. Satoshi Nakamoto, a person or a group that is responsible for the creation of Bitcoin around ten years ago, has always been a mysterious figure. Nobody knows who this person or entity is, and even whether it is a person or an entire team of developers. The mystery deepened when Nakamoto disappeared in December 2010, almost two years after Bitcoin’s whitepaper was released. Nakamoto has only had one short return when he appeared in a chatroom in 2014, but this was just to deny specific claims that his identity being discovered. Recently, Satoshi’s profile has allegedly made another comeback by simply updating his P2P, consisting of a single word — “nour” — quotation marks included. “nour”. Satoshi’s P2P Profile Was it the real Satoshi? While there is, of course, the option that this is a hacker that has compromised Nakamoto’s profile, there is also a possibility that this is, in fact, real Satoshi. If so, the possibility launched an entire series of questions, such as why make a return? Why now? Why on the previously hacked platform? Does this have anything to do with a recent BCH situation or the market crash? Almost immediately after the update was made, numerous parties attempted to establish contact with the P2P profile via his e-mail address. However, such attempts failed because the address is inactive. This might mean that there is a new e-mail account associated with Satoshi’s P2P profile. If true, that would make it even more difficult to determine whether or not this is the real person. It would also increase the odds of this Nakamoto being a fake, as it might very well be an alleged hacker from 2014. And, of course, maybe it is something else entirely. All that the community now has is one word placed within quotation marks, a lot of questions, and an unlimited amount of ideas and speculations regarding what this move might mean, and who made it in the first place. No matter whether this is the real Nakamoto or a hacker posing as him, the fact remains that the entire crypto community got excited after this mysterious update was made. All eyes in the digital currency space will be paying close attention to Satoshi Nakamoto P2P profile for a while now, awaiting new updates, potential announcements, and maybe even a few answers. The post Message From Above? Satoshi’s P2P Profile Posted One Word appeared first on CryptoPotato.

12 days ago

Zcash Launches on Coinbase Pro

The largest exchange in the US, Coinbase has will soon launch trading for privacy coin Zcash (ZEC). The exchange started accepting deposits for the coin on November 29 at 10 am PT. Deposits will be accepted at least 12 hours before trading is enabled on the platform. The platform will start the ZEC/USDC order book once it gains sufficient liquidity in the market. The coin may not be available to all Coinbase Pro users in the beginning. New York Users Can’t Deposit Zcash In the beginning, users in the UK, European Union, Australia, Singapore, and Canada will be able to trade in Zcash. US-based users, except those in New York, will also get to trade in ZEC. Coinbase noted that it would be adding support for other jurisdictions later. Trading will also not be available on Coinbase.com or the Coinbase mobile apps. Trading for the coin will begin in four phases, as is usual in most Coinbase listings. On Thursday, the exchange opened the transfer-only phase where users can deposit ZEC into their Coinbase Pro accounts. This stage can continue for at least 12 hours. After that, the markets will enter the post-only phase where limit orders can be posted, but no matches will be offered. This could take a minimum of one minute. In the limit-only stage, limit orders will start matching, but market orders will not be allowed. This stage can continue for at least ten minutes before the final phase of full trading begins where the market, limit and stop orders will be allowed. Understanding Zcash (ZEC) Zcash is a cryptocurrency designed to provide added privacy to the users. It uses advanced cryptography to ensure that transactions remain discreet. The “shielded” or “transparent” transactions that the currency provides has landed it in some controversies in the past. However, it remains one of the leading crypto projects out in the market. Coinbase suggests that it will provide deposit support from shielded as well as transparent addresses in the Zcash network. However, withdrawals will only be allowed through transparent addresses. Zcash Launches on Coinbase Pro was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

12 days ago

Ten Years On: What Have Cryptocurrencies Taught Us?

CoinSpeaker Ten Years On: What Have Cryptocurrencies Taught Us? Samuel Leach, multi-business owner, entrepreneur, and one of the most followed traders globally, shares his vision of factors crucial for the growth of cryptocurrencies, and wider adoption of the new technologies underpinned by decentralized techs. Ten Years On: What Have Cryptocurrencies Taught Us?

12 days ago

Coinbase Pro Adds Zcash (ZEC) Trading Pair

The US-based leading exchange has announced the launch of Zcash (ZEC) on its Coinbase Pro platform. ZEC Debuts on Coinbase Pro Customers of CoinBase Pro, the FDIC insured trading platform for advanced traders will now be able to trade Zcash (ZEC). The announcement was made by the firm earlier yesterday. With this addition, ZEC becomes the 8th digital asset to be added to Coinbase Pro. It joins BTC, ETH, LTC, BCH, ETC, ZRX, and BAT. The platform has already started accepting ZEC deposits. However, the trading is yet to commence. “At 10am PT on Thursday, November 29, we will begin accepting inbound transfers of Zcash (ZEC) on Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling trading,” stated the blog. According to the announcement, trading would commence once enough liquidity is established, and initially ZEC would be available with only USDC pairing. Coinbase Pro clarified: ZEC trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, European Union, Canada, Singapore and Australia. Additional jurisdictions may be added at a later date. The development is in line with the firm’s earlier stated intention to add more cryptocurrencies. What’s Zcash? ZEC is a privacy coin that uses the latest cryptographic techniques to allow users to maintain absolute anonymity of transactions over its network at their own discretion. The post explains: The distinction between Zcash’s “transparent” and “shielded” transactions is analogous to the distinction between unencrypted HTTP and encrypted HTTPS. In both cases, the unencrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information. Coinbase Pro clarified that deposits would be accepted from both transparent and shielded addresses, but withdrawals would be allowed only to transparent addresses. “In the future, we’ll explore support for withdrawals to shielded addresses in locations where it complies with local laws,” said the firm. Launch Steps The trading of the ZEC/USDC pair would happen according to the platform’s established process as stated below: Transfer-only: Starting at 10am PT on Thursday, November 29, customers will be able to transfer ZEC into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours. Post-only: In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute. This market state has been shortened to improve market health during launch. Limit-only: In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes. Full trading: In the final stage, full trading services will be available, including limit, market, and stop orders. Customers can stay updated through the official twitter handle of the platform as the order book moves through the above stages. ZEC should soon make its way to coinbase.com as well as ZRX did earlier. What are your thoughts on this development? Let us know in the comments below. Images courtesy of ShutterStock The post Coinbase Pro Adds Zcash (ZEC) Trading Pair appeared first on Live Bitcoin News.

12 days ago

Honoring Satoshi’s Vision: Toward a Better Crypto User Experience

This post about better crypto UX was written by venture capitalist David Gold. He is the CEO of Dapix, Inc, which launched the Foundation for Interwallet Operability (FIO) and FIO Protocol. *** Satoshi Nakamoto’s Bitcoin whitepaper laid out an intoxicating vision for a “purely peer-to-peer version of electronic cash” — free of involvement and interference from third-party intermediaries. Also read: Outrage Over Union Bank of Nigeria’s Threat to Close Crypto-Related Accounts Ten years later — despite much growth, shrinkage, excitement and hype — Bitcoin, and cryptocurrencies in general, have yet to be put to any significant use in commerce, which is a key reason why crypto markets continue to face such extreme volatility. Crypto is currently too difficult and risky to use. This why it has not achieved mainstream adoption. Many other cryptocurrency and token-utility protocols have been launched to create variations that are faster, cheaper and more able to handle complex transactions. But very few have focused on how to make them easier, safer and more comfortable for people to actually use. Bad Utility Equates to Bad UX Imagine stopping people in the street to show them what it is like to use cryptocurrency with the incoherent crypto addresses, the lack of obvious route to learn the progress of payments, and the irreversible transactions — even in the event of payment errors. It seems reasonable to assume few would be comfortable using cryptocurrency to conduct an exchange of value. Praising third-party intermediaries is considered heretical in the blockchain world. But from the everyday users’ perspective, they at least can provide greater confidence that a transaction of value proceeds as intended. Checks can minimize errors, and errors often have the opportunity to be corrected. For Satoshi’s vision of a “purely peer-to-peer version of electronic cash” to become a broad reality, the user experience of sending/receiving crypto must be greatly improved. In fact, the user experience needs to be better than that of sending/receiving value in the fiat world because transactions are irreversible. Users need near certainty on the accuracy of their transaction details — including where funds are being sent, the amount of funds, the type of funds, and the purpose for which they are being sent. But all this needs to be achieved without a trusted third-party intermediary. Poor Attempt Efforts to address blockchain usability in a decentralized manner to date have almost exclusively focused on solving only one piece of the problem — the concept of human-readable “wallet names” to eliminate the need to deal with incoherent public addresses. Those attempts have failed to make any meaningful impact on usability for a number of reasons. First, many of the attempts at wallet names are as complex as the usability problem they attempt to solve. Next, some attempts have been blockchain-specific, meaning that a user would be faced with a wallet name for one token but not for other tokens in their wallet. Others have created “walled gardens” requiring all users to utilize specific browser plugins or wallets to obtain greater usability, but solving nothing for the multitude of users interacting with different wallets. Even if any of these efforts were successful, wallet names themselves are an insufficient piece of the usability solution, as they do nothing to provide confidence about the accuracy of transaction details, nor shared context for the purpose of the payment. Here We Go It’s time for wallets and exchanges to change the paradigm and enable dramatic improvements in usability across all blockchains. By uniting around a decentralized Paypal-like protocol, we can finally break through the barriers on blockchain usability. This protocol should be open sourced and available to all. In other words, every wallet and exchange should be able to participate. We need a protocol that works with existing blockchains rather than competes with them. We need a protocol that doesn’t require them to change in any way, and won’t sit in the middle of transactions. Rather, it should augment blockchains by enabling all wallets and exchanges to provide a decentralized suite of information and workflow not previously possible. A protocol like this would enable the first wallet names that work across every token and coin. Crypto users would be able to send a request for payment from within one wallet to another wallet — virtually eliminating the possibility of errors in sending tokens or coins. Cross-chain metadata could work identically for every token or coin so that transfers of value, regardless of token or coin utilized, could include secure details on the purpose. And these capabilities would only be the beginning. A raft of other usability solutions could be built if everyone gets involved. Calm After the Storm The volatility experienced by cryptocurrencies over the past year would greatly diminish if crypto just became more con

12 days ago

Some Bitcoin For The Bride: This Chinese Man Is Taking Cryptos To The Next Level

When Bitcoin came into being about a decade ago, very few people really knew about it. Also, many of those who heard about it didn’t understand it or its potential. Ten years later, Bitcoin is now the topmost valued digital asset. It’s now a potent rival to gold. Bitcoin As The Pioneer Speaking of Bitcoin as the top crypto today accords it its deserved credence as having been the first invention of its kind. Bitcoin is the reason hundreds of other cryptos exist today because it proved that the previously hypothetical ideas of creating a decentralized digital asset on the internet could be turned into reality. Bitcoin knows no borders or citizenship or nationality. It’s a system built under the conviction of fostering free trade among people from all over the world. That’s why the crypto has been so popular and almost everyone in business knows about it now. Adoption One of the challenges that have faced the crypto world is the difficulty in taking them mainstream. However, Bitcoin has managed to break through a lot of skepticism and become popular even in small countries like Malta and Belarus. Today, there are coffee shops in Europe that accept Bitcoin payments. Over 4,000 Bitcoin ATMs have already been installed across the world. Chinese Groom And A Wallet Of Bitcoins In fact, the crypto has become so popular that people are now gifting each other with it. Case in point involves one guy in China. During his wedding, the man decided to take the whole world by surprise by dishing out the ultimate gift to his bride. The gift came in the form of a crypto wallet. Ain’t this the most romantic thing? Chinese guy gifts 6 bitcoins to his bride during wedding ceremony. pic.twitter.com/FQZWvm0nht — cnLedger (@cnLedger) November 29, 2018 A video clip of the interesting scene can be found here on twitter. In the video, the groom takes his time to explain to the love of his life that the wallet he’s gifting her contains 6 Bitcoins along with its private key. From a speculative angle, it’s pretty certain that this bride is about to get a whole lot richer from those Bitcoins as the crypto’s price bumps up from a recent slump. If it turns into a full-blown bull run, she could well find herself sitting on a gold-mine. The post Some Bitcoin For The Bride: This Chinese Man Is Taking Cryptos To The Next Level appeared first on ZyCrypto.

12 days ago

Zcash (ZEC) Set to Launch on Coinbase Pro

Privacy-oriented Zcash (ZEC) will be supported by Coinbase Pro, which is an international cryptoasset exchange more suited for professional or more experienced traders. As announced via a Coinbase blog: “At 10am PT on Thursday, November 29, we will begin accepting inbound transfers of Zcash (ZEC) on Coinbase Pro.” The exchange will also accept deposits “for at least 12 hours prior to enabling trading.” After accumulating “sufficient liquidity”, trading for ZEC/Tether (USDC) will begin. At first, ZEC trading will be offered to Coinbase Pro users in the UK, Canada, Australia, Singapore, and European Union. US-based traders may also trade ZEC on Coinbase Pro, however, New York residents will not be able to.. Coinbase Pro’s management is planning to offer ZEC trading pairs in “additional jurisdictions” at some later point. Zcash (ZEC) is a digital currency that uses “recent advances in cryptography to allow users to protect the privacy of transactions at their discretion”, the Coinbase Blog explained. As noted in the announcement, “The distinction between Zcash’s ‘transparent’ and ‘shielded’ transactions is analogous to the distinction between unencrypted HTTP and encrypted HTTPS. In both cases, the unencrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information.” Deposits from transparent and shielded addresses will be permitted at first on Coinbase Pro. However, only withdrawals to transparent addresses will be allowed. Later on, Coinbase Pro’s management may consider “withdrawals to shielded addresses” in “locations where it complies with local laws”, the announcement noted. At present, ZEC is not supported on Coinbase.com or through the company’s mobile apps. Should the San Francisco-based fintech firm decide to list ZEC on Coinbase, it will let users know via a separate announcement. 4 Stages of the ZEC Launch “If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our Trading Rules”, the blog stated. Coinbase Pro’s official Twitter account will be issuing updates as the ZEC trading process moves through the following four stages: “Transfer-only. Starting at 10am PT on Thursday, November 29, customers will be able to transfer ZEC into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.” “Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute. This market state has been shortened to improve market health during launch.” “Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.” “Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders. The post Zcash (ZEC) Set to Launch on Coinbase Pro appeared first on Crypto Core Media.

13 days ago

Top US Cryptocurrency Industry Players Take up the Role of Market Sheriff

Ten US-based crypto companies have launched self-regulatory body to draft guidelines for the cryptocurrency industry, notorious for numerous fraud and manipulation scandals.

13 days ago

Interest for Bitcoin is Massively Soaring With the Recovering Market

The Cryptocurrency market has seen quite a bloody market in the last few weeks with Bitcoin losing over 70% of its value since September 2017. This makes the bear market one of the worst in the history of cryptocurrencies. As speculated, google search trends for Bitcoin has seen a major surge during the period of the bear market, reaching about the same level as the last reported high of April 2018 and Bitcoin saw a significant appreciation from $7,000 to $10,000. The market though started recovering two days ago with the most significant recovery showing up yesterday 28 November 2018 in which all the top cryptocurrencies gained significantly and have been in the greens since then. Bitcoin search volume has also maintained a steady growth amidst the market recovery. Google search trends have historically been used as determinants of the future of the asset. For instance just before the current market crash, the Google search for Bitcoin significantly reduced, so the current hike in the search volume may be suggesting a coming boom for its market just like many are expecting. This may also be suggesting that there us a growing interest in Bitcoin that will attract investors to the market and thus lead to another phase of growth. Meanwhile “Wolf of my Street”, an equities trader and investor has said on Twitter that the cryptocurrency market will experience a “definitive” bullish trend if BTC breaks through $5,048.24. BTC is continuing to surge today reaching a price of up to $4,400 and may continue the trend for the rest of the day. Infact, only Bitcoin Cash (BCH) is in the reds among the top ten cryptocurrencies today. The asset has been struggling since yesterday seeing a lower gain than other top cryptocurrencies, probably due to competition from its SV fork. The crypto community however seems really impressed with the current market trend and will be looking forward to a better move. It will be interesting to see what happens by the end of today and the rest of the week. Many analysts and experts such as Tom Lee and McAfee have made bullish predictions concerning the end of year price while Nouriel Roubini has said Bitcoin will not recover. The next few days will be an important defining moment that will determine if the end of year predictions will come true or the asset will crash to zero like Roubini said. The post Interest for Bitcoin is Massively Soaring With the Recovering Market appeared first on ZyCrypto.

13 days ago

Deutsche Bank Gets Raided After Calling Bitcoin a Risk for Criminal Activity

Deutsche Bank headquarters got raided this week as another bank that regularly criticizes Bitcoin is again suspected of money laundering. Deutsche Bank Haunted by Panama Papers As Bloomberg reported November 29, an investigation into two employees at the lender has even resulted in its Frankfurt headquarters being searched, with shares falling almost 5 percent. Deutsche Bank (DB), which the publication notes has spent $18 billion on “fines and legal disputes” over the past ten years, reportedly has multiple links to the Panama Papers scandal. Citing prosecutors, Bloomberg added Deutsche “may have helped clients in setting up offshore companies in tax havens.” “Money obtained illegally may have been transferred to accounts at Deutsche Bank, which failed to report the suspicions that the accounts may have been used to launder money,” it reported. Bitter Irony Of Banks’ Bitcoin FUD Ironically, in April, Philippe Vollot, global head of the DB’s department against financial crime, called for greater regulations due to cryptocurrencies’ purported attractiveness for criminals. He said: Governments and regulators should thoroughly look into this to ensure that cryptocurrencies have the same financial crime protection rules as traditional payment solutions. In February, Bitcoinist reported, one analyst produced a dedicated report seeking to dispell “myths” associated with the industry, concluding it was “too early” to conclude anything about it. Prior to that, other bank sources had delivered more dismissive comments, chief strategist Ulrich Stephan in November last year saying he “would simply not recommend (Bitcoin) to the everyday investor.” While Bloomberg notes that only the UK’s Royal Bank of Scotland has paid out more in legal settlements than Deutsche Bank since 2008, various European institutions have sought to ‘bash’ Bitcoin at the same time as being found guilty of financial crimes. Among recent cases were the Netherlands’ Rabobank and Denmark’s Danske Bank, the latter infamously laundering more funds than cryptocurrency’s entire market cap. In a prior report into the industry, Danske had managed to underscore the irony of its position. “...Most importantly, the lack of transparency and regulatory control have made cryptocurrencies a target for criminal purposes and we know that they on several occasions have been involved in criminal transactions like money laundering or extortion,” it reads. This week meanwhile saw Frankfurt host Germany’s second Bitcoin ATM. What do you think about Deutsche Bank’s new scandal? Let us know in the comments below! Images courtesy of Shutterstock The post Deutsche Bank Gets Raided After Calling Bitcoin a Risk for Criminal Activity appeared first on Bitcoinist.com.

13 days ago

Cryptocurrency Market Update: Real Recovery or Dead Cat Bounce?

FOMO Moments Markets are still gaining, Bitcoin SV, Cardano, Tron and Verge on the up. The recovery on crypto markets has continued for a second day but has slowed down somewhat. Percentage gains today are less than what they were yesterday but market capitalization is approaching $140 billion once again. Many are calling a ‘dead cat bounce’ on Bitcoin indicating that it will meet resistance at $4,200 and plunge back into the depths below $4,000 again. BTC has made 7% on the day and reached this resistance level just passing it to clear $4,300 few hours ago. Ethereum has not been so fortunate with a smaller gain on the day to take it just above $120. ETH is really struggling at the moment with the threat of further ICO selloffs and EOS and Tron snapping at its heels. Most altcoins are in the green again today but gains are smaller. Leading the way in the top ten at the time of writing is Cardano which has reversed yesterday’s dump to gain 12% back again. Stellar has remained above EOS with 9% added, Litecoin has 8%, and Bitcoin SV has remained in the top ten with a 6% gain on the day. The top twenty’s top coin is Tron with a 22% jump to $0.015. Odyssey 3.2 has just been released which could be driving momentum. Neo and Zcash are also still gaining around 10% on the day but the rest are about 4-6 percent up. Tezos is the only coin in the red in the top 50 aside from stablecoins. Bitcoin Private is still surging and tops the one hundred chart with a fomo driven pump of 50% at the moment. Also getting a good spurt of almost 50% on the day is Verge which has recently been listed on Bithumb. Factom is regaining losses too, up 40%. [New Coin Listing] Weshow Token (#WET) and Verge (#XVG) will be listed on #Bithumb! ■Timeline: November 29 (Thu), 2018 in the afternoon. UTC+8 (KST) Visit Bithumb website and trade newly listed cryptocurrencies https://t.co/6MRxyQeeQV pic.twitter.com/Q6pxfd46Yu — Bithumb (@BithumbOfficial) November 29, 2018 There are no real losers dumping right now as altcoins are mostly all in recovery mode. Total crypto market capitalization has added another 6.8% on the day to reach $140 billion. This is around the level it reached after the second dump so things could go south again very quickly unless momentum is sustained. Trade volume has almost reached $20 billion but it is unlikely we are out of the woods yet. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Real Recovery or Dead Cat Bounce? appeared first on NewsBTC.

13 days ago

TRON (TRX) Up 20 Percent As Entire Market Sees Green

Bitcoin (BTC), Cryptocurrency, TRON (TRX)-After two weeks of the worst price fall experienced in cryptocurrency since the start of the year, as prices for Bitcoin and altcoins hit their lowest point of 2018, the entire market is back in the green. For investors who weathered the plummeting storm of cryptocurrency, which has created a litany of unfavorable takes on the outlook of the industry, the brief rally is a welcome sign. While most are holding their breath in anticipation of another price drop following the rally, as most analysts see a bottom forming in the $3000 - $3500 range, the majority of coins in the top ten by market capitalization are experiencing double digit gains on the day. TRON, the twelfth largest coin by market cap, is leading the way for the top 20 cryptocurrencies, with gains exceeding 20 percent over the last twenty-four hours. Considering how far the currency has fallen throughout 2018, after achieving an all time high of $0.35 per coin to start the year, it’s little surprise that TRX has managed to rally at the head of the back. As previously reported by EWN, the price movement for TRON-along with arguably most of the more high profile currencies in the industry-has little to do with development or adoption for TRX. Helmed by founder and CEO Justin Sun, the TRON Foundation has continued to find ways to keep the currency relevant, both in enticing development and marketing maneuvers that are a step forward for the industry. Just two weeks ago, before the precipitous crash in crypto prices, TRON announced the presence of basketball legend Kobe Bryant as a special guest speaker for TRX’s first international conference being held in San Francisco in January 2019. Kobe Bryant, CEO and President of Kobe Inc and NBA legend, will be attending #TRON's first international conference in San Francisco as a Special Guest to share his vision on entrepreneurship. Join the conference with @kobebryant! #niTROn2019 https://t.co/LqxAuu8DBl pic.twitter.com/0b0IzcpOoP — TRON Foundation (@Tronfoundation) November 20, 2018 While Bryant has little in the way of cryptocurrency involvement, he does bring an entrepreneurial vision that could find some traction in the development-focused audience of TRON’s following, as well as broadening the exposure of crypto through the crossover provided by the former NBA Most Valuable Player. In addition, TRON made one of the biggest acquisitions of the year for cryptocurrency when Sun purchased BitTorrent, the world’s largest peer to peer file sharing network. Given the amount of overlap between the decentralized focus of cryptocurrency and the open economy of torrenting, it’s not surprise that Sun would target BitTorrent as a tool to integrate and improve the TRON platform experience. While details surrounding the merger of BitTorrent and TRON have been limited, the community has gained some insight through the announcement of Project Atlas, an initiative designed to do more than just shoehorn torrenting on to TRON’s platform but to improve the function of both. Even with the recent plummeting of prices spreading doom and gloom throughout the landscape of cryptocurrency, with many fixating upon the ongoing bear cycle of 2018 as a direct indication of the industry’s health, developers for the currencies have continued to forge ahead in improving the usability of their technology. Until blockchain and cryptocurrency see wider adoption and integrated use in society, it’s little surprise that price volatility will continue to emerge with Bitcoin and altcoins following a roller coaster path of boom and bust valuation. The post TRON (TRX) Up 20 Percent As Entire Market Sees Green appeared first on Ethereum World News.

13 days ago

Crypto Companies Launch Self-Regulatory Body

While some call for regulatory clarity, a group of leading companies have taken it upon themselves to set the bar for the nascent cryptocurrency industry. The Association for Digital Asset Markets, or ADAM, was launched today by ten leading financiers of the crypto-space, in order to establish comprehensive industry standards and market rules. In a joint press release, ADAM was described as “the first broad-based organization of its kind in the United States” to develop standards for the digital asset ecosystem. The new association will work with regulators to establish standards for the rest of the industry, including ethical and professional guidelines to protect investors from fraud, and safety standards to protect assets in custody. It will also create rules governing clearance, settlement, and transparency in order to establish a “fair and orderly” marketplace for digital assets. “Rules are fundamental to the development of any market,” said Duncan Niederauer, former CEO of the New York Stock Exchange, who will join ADAM as a member of its Advisory Board. “Over 200 years ago, market leaders came together to draft rules that led to the creation of the New York Stock Exchange,” Niederauer said. “The advent of digital assets requires a similar effort; one that will clarify existing rules and give both investors and regulators the confidence necessary to sustain this market.” The founding companies including leading figures in the world of crypto-finance, like Paxos and Galaxy Digital. Self Regulation Makes Things Easier For Real Regulation ADAM appears to be geared towards addressing the long-lasting perception that crypto markets are heavily manipulated, behind opaque exchanges with very limited operational security. Hacks remain endemic, and several leading exchanges have been accused of cooking their orderbooks. The launch of a self-regulatory body may help gain clearance from government regulators as well. On the same day as ADAM launched, SEC Chairman Jay Clayton told a packed audience of crypto investors that these shady dealings were preventing ETFs and other financial products from securing regulatory approval. “What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation,” Clayton said at Consensus: Invest, hosted by CoinDesk in Manhattan. “It’s an issue that needs to be addressed before I would be comfortable.” “We’ve seen some thefts around digital assets that make you scratch your head,” Clayton said, before adding: “Get your act together.” It’s not clear if ADAM will be able to smooth the entrance for cryptocurrency financial products. But the joint collaboration of ten major firms may be the industry’s most concerted effort yet to “get its act together.” The author is invested in digital assets. The post Crypto Companies Launch Self-Regulatory Body appeared first on Crypto Briefing.

13 days ago

Bitcoin Dominance on the Rise Amidst Bear Market Conditions

Bitcoin dominance continues to rise in November even with its price falling to its lowest level in over a year. Despite the current bear market, permabulls and institutions still maintain that the top-ranked cryptocurrency has enormous potential. Bitcoin Still King Despite Bear Market Presently, the BTC dominance stands at 53.6 percent with a market capitalization of $72 billion against a total cryptocurrency market capitalization of $135 billion. Like the rest of the market, BTC’s price has taken a tumble since the middle of the month. At the start of the month, BTC’s market share stood at 51 percent. However, this figure has risen steadily throughout the month. One primary reason for this rise is the fact that altcoins have seen higher price drops that BTC. To get some perspective of why BTC is still king, consider the following. The top-ranked cryptocurrency is currently down by 34 percent since November 14, 2018. During that same period, most top ten altcoins have declined by more than 40 percent. Bullish Optimism Unaffected by Price Drop Price decline aside, many commentators are still espousing positive sentiments regarding the future of BTC. Recently, renowned venture capitalist and BTC bull Tim Draper said that cryptocurrencies would lead the future of global finance. According to Google Trends, interest in BTC is at an eight-month high. Apart from individuals, institutions are also sounding the same tune, even appearing to commit considerable resources into the market. Recently, Live Bitcoin News reported that Nasdaq was considering moving forward with its plans to list BTC futures pending a favorable response from regulators. Bitcoin Back Above $4,000 As at press time, the top-ranked cryptocurrency surged past the $4,000 mark, gaining over 11 percent within the last 24 hours. Since dropping below $4,000 last Saturday (November 24, 2018), the BTC price tested the $3,500 resistance level a couple of times. Bitcoin managed to hold off on both occasions, bouncing even higher. Commentators like Mati Greenspan of eToro identify $3,500 and $3,000 as critical support levels for Bitcoin. Elsewhere, Wednesday’s trading also sees positive price gains for the market as a whole. Monero (XMR) is the highest gainer so far among the top ten coins, rising by 15 percent in the last 24-hour trading period. Verge (XVG) is the highest gainer in the top 100, with an increase of 47 percent. Do you think Bitcoin’s market dominance can go above 60 percent when the dust settles after the current bear market? Let us know your thoughts in the comment section below. Images courtesy of Coinmarketcap.com and Shutterstock. The post Bitcoin Dominance on the Rise Amidst Bear Market Conditions appeared first on Live Bitcoin News.

14 days ago

Monero [XMR] overtakes Cardano [ADA] on the charts as bullish run continues

On Monday, November 28, the cryptocurrency market saw a remarkable bull run that caused almost every single coin on the charts to shoot up. Bitcoin [BTC], XRP and Ethereum [ETH], the big three of the cryptocurrency market, were also blessed with double-digit growths. The bull run also caused a major shift on the cryptocurrency charts as Monero [XMR] overtook Cardano [ADA] with a remarkable change in market cap. At the time of writing, Monero was growing by a massive 17.97% with a total market cap of $1.047 billion. The cryptocurrency was trading for $62.12 with a 24-hour market volume of $20.072 million. A majority of the cryptocurrency’s trade volume was held by Bithumb, on which XMR transactions worth $376.275 million took place. Bithumb was followed by Binance, which had a grasp on $3.077 million of the total Monero trade. Cardano[ADA], now occupying the 11th position on the cryptocurrency charts, was also riding the bullish wave growing at 14.59%. ADA held a market cap of $1.036 billion with a 24- hour market volume of $29.189 million. ZBG held the majority trade volume for Cardano, encompassing $14.1 million of all Cardano trade. Monero surpassing Cardano has caught the eye of the community as Cardano has been ahead for a long period of time. The disruption of cryptocurrencies on the chart started when Bitcoin SV entered the top ten club. Monero has captured headlines multiple times in the past, acting as a privacy coin that enables a lot of use cases. Recently, Riccardo Spagni aka Fluffy Pony spoke about how Monero can be useful for a more privacy-oriented network. Spagni is a core team member and developer at Monero. He had said: “The lack of privacy and so Monero will have made inroads already in places like Venezuela and in countries with oppressive regimes. And at that point even if Bitcoin has added privacy, it will not necessarily be an easy switch over for the people that are already in the ecosystem.” The post Monero [XMR] overtakes Cardano [ADA] on the charts as bullish run continues appeared first on AMBCrypto.

14 days ago

Top Cryptocurrency Firms Create Code of Conduct Guidelines for the Market

A group of leading cryptocurrency and financial institutions recently collaborated to form a body that would establish a Code of Conduct guideline for the virtual currency industry. ADAM: Code of Conduct for the Cryptocurrency Market According to a press release published on Business Wire, ten leading cryptocurrency and fintech firms came together on Tuesday (November 27th), to form a body known as the Association for Digital Asset Markets (ADAM). The organization would collaborate with other regulatory agencies to create rules and regulations that would ensure the “efficient trading, custody, clearing, and settlement of digital assets.” ADAM also intends to create a Code of Conduct for virtual assets that would add to the current laws and regulation. This move would increase fairness and orderliness in the cryptocurrency market and would enable investors and innovators transact confidently. The association’s ten founding members include Cumberland, Galaxy Digital, Genesis Global Trading, BTIG, Paxos, Hudson River Trading. Other members are BitOoda, Symbiont, GSR, and XBTO. Former Chief Executive Officer of the New York Stock Exchange (NYSE), Duncan Niederauer, is ADAM’s Advisory Board Member. Commenting on the creation of the organization and its aims and objectives, Niederauer said: Rules are fundamental to the development of any market. Over 200 years ago, market leaders came together to draft rules that led to the creation of the New York Stock Exchange. The advent of digital assets requires a similar effort; one that will clarify existing rules and give both investors and regulators the confidence necessary to sustain this market. The former NYSE CEO also lauded the efforts of the companies behind the initiative. Furthermore, Niederauer stated that he would use his advisory role to help the cryptocurrency market thrive. The Code of Conduct’s guidelines would also cover risk management, Know Your Customer (KYC), AML, market manipulation, among others. The association intends to welcome new members and would release a list of officers in the nearest future. ADAM’s offices would be in Washington, D.C. and New York. Attempts to Self-Regulate the Cryptocurrency Industry In the wake of market manipulation, hacks, lax security, among others plaguing the virtual currency industry, cryptocurrency exchanges have collaborated to revamp the sector. The U.S. Justice Department is currently investigating the virtual industry for market manipulation, with focus on Tether. In a bid to regulate the digital currency market, Gemini, owned by the Winklevoss twins, formed a self-regulatory body called Virtual Commodity Association (VCA) Working Group. Other members of the group include Bitstamp, Bittrex, and BitFlyer. In Japan also, a group of digital currency exchanges came together to form an organization known as the Japan Virtual Currency Exchange Association (JVCEA). Approved by the FSA, the group would establish rules protecting investors’ funds, monitor, and sanction cryptocurrency exchanges. Image courtesy of Shutterstock. The post Top Cryptocurrency Firms Create Code of Conduct Guidelines for the Market appeared first on Ethereum World News.

14 days ago

Bitcoin Price Up By $3bn As Nasdaq Unveils 2.0 Futures

The Bitcoin price pushed past the $4,000 mark earlier today, as the market shows some signs of recovery. The upswing might be a result of changing sentiment and new institutional players, as Nasdaq revealed new products for virtual currencies. Yesterday morning, the BTC price hit a new low for the year after it fell below $3,700. But prices soon began to correct, pushing upwards and finally hit the $4,000 mark at approximately 04:00 GMT this morning. Bitcoin has increased by nearly $500 in the past 24 hours, a $3bn increase in its market cap. It was trading at $4,027 per coin, at the time of writing. It isn’t just Bitcoin that has had a good day. Most coins in the top ten - with the exception of the new Bitcoin SV (BSV) - are up by strong margins. Litecoin (LTC) currently leads the pack with 10% growth and Cardano (ADA) on 9%; Ether (ETH) and Stellar Lumens (XLM) not far behind on a rough 8.5% price increase. XRP, currently the second largest coin by market cap, is up by 6%. Bitcoin SV, a product of the Bitcoin Cash (BCH) hard fork, launched as a new independent cryptocurrency earlier this week. Although the coin started at $100 - even spiking to $120 - the coin dipped to a low of $83 earlier today. Bitcoin Cash, which has now implemented the rival ABC protocol implementation, has itself made modest gains, up by 3% to $183. Bitcoin Price Upswing The rally was a relief after one of the market’s biggest slides, when the total value of all cryptocurrencies fell by nearly $100bn in two weeks. A combination of SEC regulatory news and the hard fork were the two leading factors behind the downturn. A decline in tech stocks, which seem to be correlated with cryptocurrencies at least on a macro level, may have also played a part. The recovery coincided with yesterday’s Consensus: Invest event, hosted by CoinDesk in New York. Unlike other crypto conferences, the event was targeted towards traditional investors, with some of the speakers coming from prominent Wall Street banks. The biggest story, as reported by CoinDesk, was that Nasdaq would be introducing a range of financial products for virtual currencies. In collaboration with VanEck, which unsuccessfully proposed its own Bitcoin exchange-traded fund (ETF) in the summer, they want to “bring a regulated crypto 2.0 futures-type contract.” The announcement comes less than two weeks after fintech provider Amun unveiled its new Crypto Basket Exchange Traded Product (ETP). Regulated in Switzerland, the basket tracks an index of the five biggest cryptocurrencies by market cap. It currently has the highest volume on the Swiss Six Exchange, beating similar products in mainstream assets such as gold, silver and crude oil. “It’s now clear that institutional investors are definitely moving forward with crypto investments,” says Mati Greenspan, senior analyst at eToro. “The new crypto ETP that was launched last week in Switzerland has quickly become one of the most popular products on the primary Swiss stock exchange. I must say that this excitement has surpassed all my personal expectations.” Although Bitcoin and the rest of the crypto market still have some way to go before they fully recover, this might be the big break it needed. The author is invested in BTC and ETH, which are mentioned in this article. The post Bitcoin Price Up By $3bn As Nasdaq Unveils 2.0 Futures appeared first on Crypto Briefing.

14 days ago

Leading Crypto Firms Seek to Formalize Digital Assets Standards

Ten cryptocurrency industry titans have banded together to form a working group in a bid to formalize a number of positive standards for the digital currency market. Crypto credibility The Association for Digital Asset Markets (ADAM) is looking to leverage the joint expertise of its members and partnerships across financial firms and regulatory experts, in order to “devise a code of conduct for digital asset markets”, as stated on the official ADAM website. Using the decade that has passed since the publication of the Bitcoin whitepaper as a point of reference, ADAM argues that “the world is still coming to terms with its implications” and that digital assets are a major opportunity, one of which the government regulators and market participants are finding extremely challenging to navigate. ADAM’s website states four primary objectives: To protect market participants from fraud and manipulation; To provide clear rules and standards for efficient trading, custody, and the clearing and settlement of digital assets; To encourage professionalism and ethical conduct by market participants; and To increase transparency and provide information to the public and governments about digital asset markets. The founding members of ADAM include fintech company Paxos, over-the-counter (OTC) crypto dealer Genesis Global Trading, world-leading multi-asset quantitative trading firm Hudson River Trading, and market-leading institutional smart contract platform Symbiont. According to BusinessWire, ADAM is to be the “first broad-based organizations of its kind in the United States to proactively seek comprehensive standards for digital asset market participants”. That said, it isn’t the only consortium seeking to set straight particular issues of compliance, taxation and others for the blockchain and cryptocurrency industry, an undertaking of which Washington-based “The Blockchain Association” has set out to achieve. Good intentions ADAM is also said to be working with “current and former” regulators so that appropriate rules for “efficient trading, custody, clearing and settlement of digital assets” can be created. Furthermore, it references new guidelines to promote professional and ethical conduct by market participants, encouraging transparency to regulators and the public, and curbing market manipulation. ADAM Advisory Board Member and former CEO of the New York Stock Exchange, Duncan Niederauer, likened the establishment of these fundamental rules to those set 200 years ago by market leaders who together, drafted the rules which led to the eventual creation of the New York Stock Exchange. He said, “The advent of digital assets requires a similar effort.” Much like The Blockchain Association, ADAM will be pushing guidelines for risk management, know-your-customer (KYC), anti-money-laundering and so on. Entities such as these have some major benefits for the industry at large, which at present is undergoing radical transformations in the wake of major regulatory shifts and the ongoing professionalization of the industry, spurred by institutional investment from venture capitalists (VCs). 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 The post Leading Crypto Firms Seek to Formalize Digital Assets Standards appeared first on BitcoinNews.com.

14 days ago

Bitcoin Bottom: Bitcoin Could Hit $1k if $3k Support Fails Fear Crypto Technical Analysts

Down 80 percent from its all-time high (ATH), trader Brian Stutland says a bounce for BItcoin might be coming as “this is the bottom.” While according to technical analyst Crypto Yoda, price action doesn’t reflect a strong bull spike and further $1k is a real possibility. Bitcoin Tanking, Groundwork for a Technical Bounce? Bitcoin is crashing, having dropped 80 percent from its peak. At the time of writing, Bitcoin has been trading at $4,024 while registering 24-hours gains of over 8 percent. The leading cryptocurrency is managing the daily trading volume of $6.2 billion. Bitcoin 1-year price chart, Source: Coinmarketcap According to trader Brian Stutland, Bitcoin could be laying the groundwork for a technical bounce after snowballing. He said, “my be this is the bottom”. Stutland explained that Bitmain is coming out with a new mining hardware that works faster than their previous counterparts. Whenever new versions enter the market, he says, prices takes a dump. He further shared with CNBC’s Futures Now that the bubble has burst as it goes down 80 percent from $20,000 peak and that’s when the bottoming process starts. Crypto trader, Crypto Hustle shared similar positive sentiment while further Tweeting about the new developments, $BTC breaking out a line to get the party started...https://t.co/THq4MbBRCw — ฿TF%$D! (@CryptoHustle) November 28, 2018 Price Action Indicates Negative Implications The market is in green today but it doesn’t take much for it to turn red. Crypto enthusiast and popular technical analyst Crypto Yoda is not positive of the green movement as he says, price action not convincing imho. expecting capitulation soon, will be quick & violent. ur favorite engine might not be able to handle the volatility — plan ahead. strong support around $2800-$3000. if 3k support fails it won't stop before $1000-1200, be prepared, almost there. pic.twitter.com/LB9azfx8pF — CryptoYoda (@CryptoYoda1338) November 27, 2018 Despite 1k being a real possibility, he says “probability of stopping at 3k zone is significantly higher than 1k, but both targets in the range of possibility.” As for how far this bear market could extend, Crypto Yoda comments, “Last breaths of the bear currently IMHO. As said, quick capitulation, then hefty rebounce. Days to weeks.” Despite the crypto market being red, not everyone is hopeless as Binance CEO, Changpeng Zhao shares a positive sentiment, Uncertainty = opportunity https://t.co/IS923KaTaq — CZ Binance (@cz_binance) November 28, 2018 Crypto enthusiast Ruigo shares, Regardless of price, Bitcoin is still: The soundest money to dateLimited to 21 million coinsResistant to censorshipRunning for ten yearsNon-political moneyPseudonymousPermissionlessDecentralizedIrreversibleFungibleTrustlessGlobal — Rui Gomes (@ruigomeseu) November 27, 2018 The post Bitcoin Bottom: Bitcoin Could Hit $1k if $3k Support Fails Fear Crypto Technical Analysts appeared first on Coingape.

14 days ago

Bitcoin Bottom: Bitcoin Expected to Hit $1k if $3k Support Fail As per Crypto Technical Analysts

Down 80 percent from its all-time high (ATH), trader Brian Stutland says a bounce for BItcoin might be coming as “this is the bottom.” While according to technical analyst Crypto Yoda, price action doesn’t reflect a strong bull spike and further $1k is a real possibility. Bitcoin Tanking, Groundwork for a Technical Bounce? Bitcoin is crashing, having dropped 80 percent from its peak. At the time of writing, Bitcoin has been trading at $4,024 while registering 24-hours gains of over 8 percent. The leading cryptocurrency is managing the daily trading volume of $6.2 billion. Bitcoin 1-year price chart, Source: Coinmarketcap According to trader Brian Stutland, Bitcoin could be laying the groundwork for a technical bounce after snowballing. He said, “my be this is the bottom”. Stutland explained that Bitmain is coming out with a new mining hardware that works faster than their previous counterparts. Whenever new versions enter the market, he says, prices takes a dump. He further shared with CNBC’s Futures Now that the bubble has burst as it goes down 80 percent from $20,000 peak and that’s when the bottoming process starts. Crypto trader, Crypto Hustle shared similar positive sentiment while further Tweeting about the new developments, $BTC breaking out a line to get the party started...https://t.co/THq4MbBRCw — ฿TF%$D! (@CryptoHustle) November 28, 2018 Price Action Indicates Negative Implications The market is in green today but it doesn’t take much for it to turn red. Crypto enthusiast and popular technical analyst Crypto Yoda is not positive of the green movement as he says, price action not convincing imho. expecting capitulation soon, will be quick & violent. ur favorite engine might not be able to handle the volatility — plan ahead. strong support around $2800-$3000. if 3k support fails it won't stop before $1000-1200, be prepared, almost there. pic.twitter.com/LB9azfx8pF — CryptoYoda (@CryptoYoda1338) November 27, 2018 Despite 1k being a real possibility, he says “probability of stopping at 3k zone is significantly higher than 1k, but both targets in the range of possibility.” As for how far this bear market could extend, Crypto Yoda comments, “Last breaths of the bear currently IMHO. As said, quick capitulation, then hefty rebounce. Days to weeks.” Despite the crypto market being red, not everyone is hopeless as Binance CEO, Changpeng Zhao shares a positive sentiment, Uncertainty = opportunity https://t.co/IS923KaTaq — CZ Binance (@cz_binance) November 28, 2018 Crypto enthusiast Ruigo shares, Regardless of price, Bitcoin is still: The soundest money to dateLimited to 21 million coinsResistant to censorshipRunning for ten yearsNon-political moneyPseudonymousPermissionlessDecentralizedIrreversibleFungibleTrustlessGlobal — Rui Gomes (@ruigomeseu) November 27, 2018 The post Bitcoin Bottom: Bitcoin Expected to Hit $1k if $3k Support Fail As per Crypto Technical Analysts appeared first on Coingape.

14 days ago


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