Verge XVG

$0.0070
Market Cap $ 105.613 MM (#44)
24h Volume $ 2.452 MM
Chg. 24h: 5.53%
Algo. score 4.1/5  (#35)
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Verge News

Crypto Market Sharply Corrects as Bitcoin Drops Below $3,500

On Sunday Bitcoin dropped below $3,500 and $5 billion was liquidated from the crypto market. Ethereum and a handful of the top-10 cryptocurrencies also posted double-digit losses and Bitcoin is on the verge or revisiting 2019 lows. Prior to the Sunday’s downside move, a growing number of analysts pointed out that Bitcoin was showing weakness and a popular analyst named “Hsaka” suggested that “the first wick below the range low led to a tap of the range high. The second one has failed to reach that high as of now.” Consistently low volume has plagued the crypto market over the past 24-hours and some analysts are now suggesting that if there is not an uptick in purchasing volume, Bitcoin could drop below $3,000. At the time of writing, Bitcoin is down 3.20% and the price is $3,552. (RS)

a day ago

Cryptocurrency Markets Plunge 11% in a Single Day

Just when things were looking positive for 2019, and cryptocurrency markets were making a slow recovery from their December lows, the bears came out in force and smashed them to bits over the past 24 hours. Over $15 billion has been lost from crypto assets since the same time yesterday resulting in a daily crash of over 11%. There were two separate dumps each occurring over about an hour as the tsunami of bears beat the hell out of Bitcoin and its brethren. Bitcoin has been facing stiff resistance at the $4,000 level as all indicators suggest that it will not be easy breaking through. Those were proved right yesterday as Bitcoin swiftly plunged back to $3,850, a previous level of support. The pain did not stop there as eight hours later another digital avalanche commenced sending Bitcoin back to $3,660. Any further losses below $3,600, another strong support zone, could see BTC back to its mid-December low of $3,200. As seen on countless occasions the entire crypto market is hopelessly tied to the movements of Bitcoin. The big purge has hurt Ethereum even more which is currently showing a 13% loss on the day according to Coinmarketcap.com. Ethereum’s pain has been XRP’s gain as it retakes second spot with a slim market cap margin of just $100 million. The Ripple token also dumped 11.5% but it was just enough to edge out Ethereum again. The entire market bled so much that Tether is climbing back up the chart and challenging Litecoin for seventh spot. The biggest losers at the time of writing are Bitcoin Cash, EOS, Tron and Cardano all plummeting over 16% on the day. Tron is still up over the week though as a series of positive fundamentals have kept TRX buoyant. There is only one survivor at the moment and that is Verge which has actually made a gain while all those around it have crumbled. XVG is actually showing a 7.5% increase on the day. There are a few updates to wallets and software but not a lot else appears to be driving momentum so it is likely to dump those gains very shortly. Verge has been considered by some as a deadcoin but it still seems to be kicking at the moment. Despite the latest purge crypto markets appear to be consolidating in a range bound channel between $120 and $140 billion. If a third dump happens things could easily go south very quickly and new lows could be made. As it stands now markets are at their lowest level for 2019. The post Cryptocurrency Markets Plunge 11% in a Single Day appeared first on Ethereum World News.

4 days ago

No one Knows why the Verge Price is Rising

Even though today is not the best day for most cryptocurrency markets, it would seem some currencies continue to buck the negative trend. Verge, for example, has somewhat disappeared into obscurity ever since its unsuccessful PornHub partnership. Even so, the currency still enjoys a positive spell of momentum right now, albeit one has to wonder if this is just another pump and dump. Only time will tell whether or not that is the case. Verge Price Uptrend has no Base It is not entirely uncommon for alternative cryptocurrencies to rise in value for no specific reason. In the case of Verge, that may be a more normal turn of events compared to all other currencies on the market today. At the same time, one has to wonder how all of this will pan out moving forward. For speculators, these current gains will be quite pleasing, yet the exact value of XVG remains up in the air. Over the past 24 hours, there has been a somewhat surprising Verge price uptrend. With a strong 6.3% gain in USD value and 12.2% gain in Bitcoin value, one XVG is currently priced at $0.0077 or 201 Satoshi. Depending on whom you pose the question to, that value may not necessarily rise much further in the hours and days to come. On social media, it seems traders and speculators are openly discussing whether or not the current XVG/BTC level will be the peak. More specifically, XVG Sargantana considers a push past 200 Satoshi would be sufficient to take profits. Even so, the current uptrend may be extended, for all one knows, which can lead to some surprising developments in the short-term. Acumulando #Verge en 170 sats, superando 200 sats en estos momentos, quizá no volvamos a verlo a estos niveles... ? pic.twitter.com/jOZ8sdhi52 — ᙭ᐯG SᗩᖇGᗩᑎTᗩᑎᗩ (@XvgSargantana) January 10, 2019 CryptoN00b isn’t exactly convinced the current Verge price increase is worth paying too much attention to. That is only normal, primarily when considering the currency has been on somewhat of a roll in terms of controversy. Even so, the current price trend cannot be ignored, even though it might not necessarily be because of some technological developments happening behind the scenes. Haven't checked #XVG since a while (the pornhub deception) so I can't comment on the 'better tech'. The reason why #Tron is in top-10 today is also because there is a guy dedicated full-time to Marketing. #tron has a much better presence. — CryptoN00b (@CryptN00b) January 10, 2019 After Kornelius is clearly not too amused by the “stunt” Verge is trying to pull as a cryptocurrency. While everyone is entitled to like or dislike whichever project they please, calling XVG a scam coin is a bridge too far. While the history of Verge has some controversy, it hasn’t been proven to be a scam as of yet. Nor may it ever, as the project is, for all intents and purposes, still active today. It may be a “useless” currency, but that doesn’t make it a scam by definition. #xvg = #scamcoin , donate some #verge to them ...maybe they bring out a new partnership...or buy some new lambos with it ....Just wait for the #dump #binance #bittrex #cryptopia #bitpanda #kucoin #rdd #dgb #ada #bitcoin — #crypto - Future #money (@after_kornelius) January 10, 2019 Regardless of how the public feels about Verge, no one can deny the current Verge price uptrend is firmly in place. That in itself is a rather interesting development, especially when looking at the overarching bearish market trend. The main question is whether or not Verge can escape this negative trend for a prolonged period, as that may prove challenging under these circumstances. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post No one Knows why the Verge Price is Rising appeared first on NullTX.

4 days ago

IBM Rolls Out Its First Quantum Computer, Crypto Industry to be Disrupted?

CoinSpeaker IBM Rolls Out Its First Quantum Computer, Crypto Industry to be Disrupted? While many of us might have heard about quantum computers, so far its scope was limited to researchers, scientists and engineers. Breaking the ice, IBM unveiled the world’s first quantum computer called Q System One for commercial use. Furthermore, IBM also plans to open the first “IBM Q Quantum Computation Center for commercial clients” this year. The IBM Q System machine will tackle extremely complex problems which are beyond the scope of classical computers. Director of IBM Research, Arvind Krishna, said: “The IBM Q System One is a major step forward in the commercialization of quantum computing. This new system is critical in expanding quantum computing beyond the walls of the research lab as we work to develop practical quantum applications for business and science.” However, Quantum Computers do come with the operating challenges. The Quantum computing chips need to be kept at the properly regulated environment. Furthermore, extreme care is essential for its stability. Even the slightest electrical fluctuations or physical vibrations can cause quantum computations to go haywire. However, a quantum computer has significant advantages and can process exponentially much more data than traditional computers. Quantum Computing is all about using Quantum bits also called qubits. Normal computers process data in binary bits like zero and one. Qubits take a value between 0 and 1 through a quantum phenomenon called as superposition. Below is a brief video to understand Quantum Computing. Something Special About the Q System One IBM calls its success with the Q System One as turning down an experimental quantum computer into a ‘close-to’ mainframe computer with better stability. The industrial design consultancy - Map Project Office is the name behind Q System One’s design. All the components in the Q System One are isolated very carefully in order to limit vibrations. IBM has thus ensured that it the machine is reliable for commercial use. To get an idea of how IBM makes it Q System machines, take a look at the picture below. While speaking to The Verge, IBM’s VP of quantum research, Bob Sutor said: “This is something IBM brings to the market that no one else really does. We know how to do integrated systems. The electronics for a quantum computer are not something you go buy off the shelf. You need a temperature controlled environment, you need to minimize the vibrations — anything that might disrupt the quantum calculations.” Sutor also adds that the practical advantage of Q System One is that it significantly reduces research downtime. Winfried Hensinger, professor of quantum technologies at the UK’s University of Sussex, said: “It (Q System One) more like a stepping stone than a practical quantum computer. Don’t think of this as a quantum computer that can solve all of the problems quantum computing is known for. Think of it as a prototype machine that allows you to test and further develop some of the programming that might be useful in the future.” Quantum Computing Posing a Threat to Crypto Industry Well, some experts argue that quantum computing can pose a potential threat to the crypto and blockchain industry. Researchers argue that Quantum computations are powerful enough to break into the blockchain code or the public key cryptographic code. IT means that quantum computing directly attacks at the heart of the blockchain technology. The highly-encrypted cryptographic codes make blockchain much powerful and tamper-proof providing ultimate security for its users. Breaking into this means forging the digital signatures of all items on the distributed ledger. This potentially opens the door for 51% attacks as recently seen in Bitcoin Cash and Ethereum Classic. Talking to the Gizmodo publication two months back, Alexander Lvovsky, an experimental physicist at the University of Oxford, said: “Quantum computers pose a risk to any kind of security where public key cryptography is involved. However, blockchains are especially at risk, because they’re completely anonymous. They’re only protected by public key cryptography, whereas banking has human tellers, plastic cards, and ATMs. You have to be a human to use a bank, but you don’t have to be human to use the blockchain.” Note that quantum computing is still pretty much in its early stage of development, but it is certainly ringing some alarm bells. “Much like today’s [quantum computing] hardware is not mature, algorithms that could threaten cryptography in the near term are not mature, but advancing rapidly,” said Nick Farina, CEO of startup EeroQ Quantum Hardware. “The solution is not to panic, but to follow developments on both sides of quantum computing closely and look into post-quantum security a little bit sooner than you currently are planning to,” adds Farina. IBM Rolls Out Its First Quantum Computer, Crypto Industry to be Disrupted?

4 days ago

Bitcoin down $250 as Report Claims Russia Might Trigger the Next Bull Run

After spending four days above $4,000, Bitcoin has finally given way. And it has been quite a drop, with the currency losing $250 in the space of thirty minutes. The drop sees it trading at $3816 at press time, having dropped from $4,016. Bitcoin had witnessed yet another 30-minute rally on January 6, gaining over $200 in just thirty minutes to hit $4,080. It was the first time Bitcoin had hit the $4,000 level since Christmas and many viewed it as the first step in a possible 2019 rally. Meanwhile, Russia intends to buy bitcoins to the tune of billions of dollars to mitigate the effects of U.S sanction in February. This is according to a report by Australian crypto site Micky.com which claimed to have had an exclusive interview with a lecturer at a leading Russian economics institution. This could trigger a massive bull run, with the Russian Central Bank sitting on over $450 billion in reserves. A Flash Crash The unpredictable nature of the crypto market became evident once again after a flash crash hit the market earlier today. This crash was quite unexpected, given most cryptos have been having a good run since the year turned. The crash spared no one, with stablecoins being the only cryptos in the top 50 that have not experienced a dip. Bitcoin Cash was the worst hit, with the currency losing 15 percent in the past 24 hours. BCH lost $35 in a few hours, dropping from $161 to $135. At press time, the currency was trading at $140. BCH consequently lost $500 million, putting it within $70 million of fifth-placed EOS. EOS lost 9 percent and the race for the fourth spot might end up being decided by which currency can bounce back the fastest. Despite Bitcoin’s price dip, technical gauges indicate an impending price rally. In the past few days, the upper and lower bands of the GTI Vera Bands Indicator have narrowed progressively. This indicates that Bitcoin could be on the verge of a breakout. The indicator also shows that Bitcoin is on its longest buying streak since mid-September, a further indication of a possible bull run. However, as exciting as this may sound, it’s best to remain cautions according to Travis Kling. Kling is the founder of Ikigai, a crypto hedge fund, having served as a portfolio manager for billionaire Steve Cohen’s Point72 hedge fund. He told Bloomberg: It’s unlikely that the bottom is in for Bitcoin. I am certainly willing to change my mind, but the preponderance of evidence leads us to believe that we’ll see more lows before we head higher. Could Russia Trigger The Next Bull Run? China, Japan, South Korea and the U.S. These are the nations that have had huge impacts on Bitcoin’s price movement in the past. However, it looks like the next bull run could be triggered by an unlikely entrant: Russia. The U.S and Russia have rarely seen eye to eye, and sanctions have been a natural result. This time, it might be a little different according to Vladislav Ginko. Ginko is a lecturer at the Russian Presidential Academy of National Economy and Public Administration. As reported by Micky.com, Ginko believes that Russia will turn to Bitcoin. He stated: US sanctions may be mitigated only through Bitcoin use. Because of US sanctions, Russia’s elite is forced to dump US assets and US dollars and invest hugely into Bitcoins. Central bank of Russia sits on $466 billion of reserves and has to diversify in case there is limited opportunities to do it (in the future) Image(s): Shutterstock.com The post Bitcoin down $250 as Report Claims Russia Might Trigger the Next Bull Run appeared first on NullTX.

4 days ago

Dollar Vigilante: Bitcoin (BTC) Nearing Bottom, Institutional Money To “Explode Crypto”

Bitcoin Is Infantile, But It’s Revolutionary Nonetheless Jeff Berwick, the so-called Dollar Vigilante (a skeptic of the U.S. fiat system), recently sat down with BlockTV, an up-and-coming crypto-centric media outlet, to discuss his optimistic outlook on Bitcoin (BTC). It should come as no surprise that Berwick was bullish on decentralized cryptocurrencies, especially considering his seeming distaste for government-issued currency, but his comments held credence nonetheless. @DollarVigilante Jeff Berwick says we have nearly reached a #crypto bottom and predicts a 2019 explosion. #bitcoinsummit #bitcoin pic.twitter.com/FMoeWJt7Rk — BLOCKTV (@BLOCKTVnews) January 9, 2019 In a shortened version of BlockTV’s interview, Berwick first noted that once Bitcoin, long touted as a way for consumers to “be their own bank,” is well-known as a non-intermediated currency (rather than an asset for criminals), it will likely gain revolutionary-level traction. He added that the fact that you can essentially store BTC (private keys) in your head, even without governmental or bank control, may only add to this paradigm shift. Berwick explained: Once even some people understand [Bitcoin’s potential], I couldn’t even possibly imagine where this movement could go. However, the fiat skeptic claimed that at its core, cryptocurrencies are still in a quite infantile state, in spite of the recent ten year anniversary of Bitcoin’s first block. Keeping this in mind, Berwick noted that while many consumers have cast cryptocurrencies off, especially following the boom and bust cycle of 2017/2018, that was likely just a small blip in the grand scheme of things. The decentralist isn’t the only industry insider to believe that BTC at $20,000 was just the start of something great. Per previous reports from Ethereum World News, Angel Versetti, the CEO of blockchain startup Ambrosus, noted that the real cryptocurrency bubble is when this asset class reaches an aggregate valuation of $15 trillion to $20 trillion. Berwick, like Versetti, hinted at the sentiment that this technological development is game-changing, and is still undervalued from a long-term perspective. The BlockTV interviewee, who claims that he will be able to survive and thrive “during and after the Dollar collapse,” noted that “nothing can stop a good idea.” Even more so for an idea that keeps “currency out of the hands of governments and central banks.” And this idea has already started to catch on. Per our previous reports, TIME Magazine lauded cryptocurrencies, BTC specifically, as a way to allow ‘average Joes to get out of the vises imposed by authoritarianism-centric entities. Berwick noted that he expects for this thematic development to continue in the future, especially as governments continue to struggle to keep their jurisdictions in-check. Institutional Money To Flow Into Crypto Dollar Vigilante went on to touch on his short-term forecasts for this market, which has been beaten to hell and back in recent months. Berwick noted that while he cannot be 100% sure of about predicting this industry’s developments for 2019, he expects that prices have hit (or are nearing) the bottom by and large. Yet, in spite of his bottom call, he noted that cryptocurrencies could remain in a lull until 2019’s end, echoing analysis done by other analysts, including Filb Filb and Murad Mahmudov. However, Berwick noted that with the arrival of institutional money (which he isn’t necessarily a fan of), via platforms like Bakkt, a potential Bitcoin ETF, and Nasdaq’s proposed futures, will “change the game completely.” He explained that as soon as institutional money starts flowing, cryptocurrencies prices will explode en bloc, as there are presumed trillions waiting on the sidelines. He added that with equity markets on the verge of “the biggest collapse ever,” as predicted by a number of decentralists, cryptocurrencies will likely outperform. Title Image Courtesy of Bruno Van Der Kraan The post Dollar Vigilante: Bitcoin (BTC) Nearing Bottom, Institutional Money To “Explode Crypto” appeared first on Ethereum World News.

5 days ago

Ikigai Hedge Fund Founder says Crypto will See More Lows Before Moving Higher

Bitcoin’s move above $4,000 has led cryptocurrency technical analysts to posit that Bitcoin is on the verge of a breakout and a recent Bloomberg article suggested that the king of cryptocurrencies was “on the brink of a large move.” Citing data from the GTI VERA Bands Indicator, Bloomberg proposed that the move could go in either direction and the flatlining rate of Bitcoin volatility has many analysts projecting a move to the upside. Crypto-asset hedge fund founder, Travis Kling believes that Bitcoin will not make an immediate upside move and he suggests that “we’ll see more lows before we head higher.” CCN crypto analyst Yashu Gola concurs with Kling's assessment and believes that Bitcoin could “erase all of its gains owing to its long-term bearish bias". At the time of writing, Bitcoin is down 0.12% and the price is $4,041. (RS)

5 days ago

Extensive Holo Price Pump Starts to run out of Steam

There is no such thing as a standstill when it comes to cryptocurrencies and digital assets. In fact, it seems, things are heating up among specific altcoins, which will undoubtedly lead to some interesting speculative charts. For those users watching the Holo price, things are looking quite impressive right now, Solid gains across all departments show interest in this altcoin is picking up steam. Holo Price Trend Continues Over the past few days, there haven’t been too many cryptocurrencies, tokens, or assets which effectively noted a solid gain for more than a few hours. One notable exception is Holo, an altcoin which tends to rise in value rather regularly. Unlike its counterparts, however, this altcoin not only sustained its recent gains but kept on going higher in the process. That in itself is rather remarkable, under the current circumstances. Over the past 24 hours, there has been a notable Holo price increase across the board. Not only did the altcoin gain 15% in USD value, but its BTC and ETH values all rose in a very similar manner. As such, one HOT is currently priced at $0.000726, which means a further jump may be on the horizon. At the same time, a multi-day value increase is not something to support all that easily either. On social media, the current Holo price action has a lot of people excited for rather obvious reasons. Cryptunez is wondering if Holo can become the “next” Tron of Verge in terms of its branding, ticker awareness, low value, and high expectations. It is a possibility, but currencies should only derive value from technical advancements or real-world adoption, rather than FUD and rumors. Is $HOT the next $TRX / $XVG -Low sat-Sick ticker-High hopes-Quality FUD-Wild rumors — cryptunez (@cryptunez) January 8, 2019 Rahul Bijlaney is looking at Holo from a slightly different perspective. Unlike looking at things from a community point of view, this user is simply interested in making money. Such honesty is somewhat unusual where smaller-cap altcoins are concerned. The proposed price targets seem all pretty appealing as well, although hitting any of them will require a fair bit of work first and foremost. #HOLO (#HOT) safe buy is above 17Target 32, 47, 53, 63Stop is at 8#cryptocurrency #cryptotrading #altcoins #altcointrading #cryptotrading #CryptoCurrencies — Rahul Bijlaney (@RahulBijlaney) December 19, 2018 Last but not least, there is the tweet by Crypto Jay which seems to sum up the current Holo price action rather aptly. This user confirms Holo is currently going through a pump cycle which might not necessarily be based on any actual developments or use cases. That doesn’t mean there is no money to be made in the process, but it is always important to put current events in their correct perspective. Good morning to all my Holo believers !! Let get they day going and continue this hot pump !! #holo #holochain #positivevibes — Crypto_jay (@Cryptojay14) January 9, 2019 Based on the current market circumstances, one has to wonder if and when the Holo price surge will collapse. Although there is a fair bit of trading volume and plenty of “hopium” among holders, it is evident a correction will kick in sooner or later. No market will rise in value indefinitely, especially not where altcoins and assets are concerned. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Extensive Holo Price Pump Starts to run out of Steam appeared first on NullTX.

6 days ago

Ledger Unveils Upgraded Nano X Crypto Hardware Wallet

Hardware wallets are growing in popularity as a safe haven for cryptocurrencies. Ledger is one of the world’s top providers of cold wallets and its flagship Nano range has just been given an upgrade. The company unveiled its latest iteration of the popular hardware wallet at the Consumer Electronics Show (CES) in Las Vegas this week. According to PCmag, the current Ledger Nano supports 13 crypto assets directly and many more via third party apps. The all new Ledger Nano X now has Bluetooth and supports up to a hundred more coin types and wallet apps. The six fold storage expansion is for third party developers to make sure that their applications can only sign transactions for their own private key. Appearance wise it is pretty similar to its predecessor, the Nano S, aside from the interface which is a little larger. This will facilitate the inputs that need to be made on the device itself to maintain security. Anyone that has ever set one up will know what we’re talking about here! A new mobile app called Ledger Live Mobile will take advantage of the new Bluetooth connectivity. Users can now remotely add or remove apps for various altcoins without having to plug into a PC via USB cable. According to The Verge adding Bluetooth has been a controversial move as any wireless communications are more vulnerable to unauthorized access or interception. Ledger states that the Nano X has been designed to only respond to devices running the corresponding app which has presumably been synched with the cold wallet. The app has its own security features which preserve authenticity. “The fact that we have a mobile application and it works with the Nano X is really the big evolution of the hardware for this lineup,” Ledger boss Eric Larchevêque told Coindesk. He added that the price for the Nano S will fall after the Nano X is released. At the time of writing it was not yet available on the company website and the Nano S was priced at $70. The Ledger app is expected to go live on the Apple App Store and Google Play Store later this month. The Nano X will be available for pre-order this week at $119 to ship in March. The CES is not a crypto show but it has awarded the Nano X with its 2019 “Innovation Award in Cyber Security and Personal Privacy” according to a company press release. The post Ledger Unveils Upgraded Nano X Crypto Hardware Wallet appeared first on Ethereum World News.

8 days ago

Tron [TRX/USD] Technical Analysis: Coin enjoys the bull’s presence

Tron [TRX], the tenth biggest cryptocurrency by market cap, is enjoying the bull race, while most of the cryptocurrencies have started to feel the bear’s looming presence. The coin has been in the spotlight for the past few days, with the latest reason being Binance support to the Foundation’s Project Atlas. According to CoinMarketCap, at press time, Tron was trading at $0.0221 with a market cap of $1.47 billion. The cryptocurrency has a trading volume of $187.87 million and has surged by over 9% in the past 24 hours. 1-hour Tron one-hour price chart | Source: Trading View In the one-hour chart, the cryptocurrency pictures a downtrend from $0.0239 to $0.0228. The coin records three major uptrends, from $0.0183 to $0.0191, from $0.0192 to $0.0204, and a final steep climb from $0.0207 to $0.0224. The immediate resistance for the coin is at $0.0228 and the strong resistance is at $0.0239. The cryptocurrency has found its immediate support ground at $0.0204 and its strong support at $0.0182. Bollinger Bands is showing that the bull race is going to get intense as the bands have started to make room for a volatile market. Parabolic SAR is positioned itself to enjoy the race as well, as the dots have aligned below the candlesticks. Chaikin Money Flow is showing its support for a green market as the money has started to flow into the market. 1-day Tron one-day price chart | Source: Trading View The one-day chart demonstrates a downtrend from $0.0390 to $0.0219. The first uptrend is recorded from $0.0119 to $0.0129 and the second one starts from $0.0133 and ends at $0.0193. The cryptocurrency shows that the immediate resistance point for the bull is at $0.0247 and the strong resistance is at $0.0270. The immediate support level for the coin is at $0.0186 and the strong support is at $0.0118. MACD is forecasting the bull race to last longer as the moving average line has made a crossover to take the upward direction. Klinger Oscillator is also currently showing a bullish wave. However, the reading line and the signal line are on the verge of another crossover at press time. RSI is showing that the buying pressure and the selling pressure are evened out in the market. Conclusion The cryptocurrency is up and ready for a bull run and it is supported by the majority of the indicators. This includes Parabolic SAR and CMF from the one-hour chart and MACD and Klinger Oscillator from the one-day chart. The post Tron [TRX/USD] Technical Analysis: Coin enjoys the bull’s presence appeared first on AMBCrypto.

9 days ago

Ripple Price Analysis: XRP Drop to Third, Coins Moved From OTC Distribution Wallets

Latest Ripple News Margins are tight, and after a five-month stint at second, XRP is back to third. Despite high volume activities which XRP and Ripple sleuths point to “abnormal” movement of coins from Ripple owned Escrow addresses. For example, on Jan 1, 2.9 billion worth of XRP worth $1.1 billion at market prices were moved from several OTC Distribution and Escrow wallets for mere cents. As expected, movements of such magnitude can be a cause of speculation and even unfounded hype—rumor now has it that Ripple is on the verge of striking yet another partnership. However, note that Ripple offers escrow services. It is on top of the decentralization plan in place. 500,000,000 #XRP (177,226,199 USD) transferred from Ripple Escrow wallet to Unknown wallet Tx: https://t.co/OGshmwbWhc — Whale Alert (@whale_alert) January 1, 2019 Besides, this is not the first time large quantities of XRP are changing hands. As aforementioned, Ripple’s Escrow Feature is where parties can lock up their stash for a fixed period or until when certain conditions happen. Ripple explains saying: “We use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54. As each contract expires, the XRP will become available for Ripple’s use. You can expect us to continue to use XRP for incentives to market makers who offer tighter spreads for payments and selling XRP to institutional purchasers. We’ll then return whatever is unused at the end of each month to the back of the escrow rotation. “ Ripple (XRP) Price Analysis With a market cap of $14.78 billion, XRP is the third most valuable coin in the space. While prices caved in last year sliding more than 85 percent after peaking in late Dec 2017 and early Jan 2018, the shift in momentum in mid-Sept 2018 means we are bullish XRP. Because of fundamental reasons and technical candlestick arrangements, we expect prices to edge higher in line with our previous XRP/USD trade plans. However, for bulls to be in charge, there must be hints on the chart, and that means above average volumes must accompany the up thrust above 40 cents as those recorded in Mid-Dec 2018. That will not only confirm the ecstatic buys of Dec 17 and 24 but will set the ground rolling for further gains above Dec 2018 highs of 48 cents. This is our XRP/USD trade plan: Buy: 40 Cents Stop: 37 Cents Target: 45 Cents, 55 Cents, 80 Cents (Sep 2018 Highs) All Charts Courtesy of Trading View Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision. Ripple Price Analysis: XRP Drop to Third, Coins Moved From OTC Distribution Wallets was last modified: January 2nd, 2019 by Dalmas NgetichThe post Ripple Price Analysis: XRP Drop to Third, Coins Moved From OTC Distribution Wallets appeared first on NewsBTC.

11 days ago

Bitcoin Bulls Ready to Run, Why Crypto is About to Take Off Again

Over the past 12 months Bitcoin has continued to fall, dragging the entire crypto market down with it. The daddy of all digital currencies hit a 16 month low in mid-December when it fell below $3,200. Things could be on the verge of a reversal soon though according to analysts. Turning The Tide On The Bears A positive start to 2019 and new technical analysis suggests that trends are about to turn for Bitcoin and its brethren. An indicator used to detect trend reversals shows that Bitcoin is in its longest buying streak for six months according to Forbes. The GTI Vera Convergence Divergence indicator has previously been used to highlight buy signals and it has not been wrong. Bitcoin had a month long rally the last time this indicator showed positive signals. “Should buying pressure persist as it has over the past 13 days, Bitcoin could continue to see a rise in prices,” Bloomberg added. Bloomberg’s Galaxy Crypto Index, which tracks some of the top crypto assets, is similarly indicating Bitcoin’s longest buy streak since September when its market dominance climbed to 58%. This sentiment has been echoed by senior analysts such as eToro’s Mati Greenspan who said the market is much closer to the bottom than we are to the top, before adding; “I’m seeing an industry that is growing at a very rapid pace right now where we see companies that are involved in bitcoin and blockchain hiring at a rapid rate. We see new projects coming online. We see all kind of indication that people are getting more and more involved in the market.” While it is true that large scale mining operations have downsized, crypto exchanges such as Binance and Coinbase have continued to expand and take on new staff and new geographic locations. The looming promise of institutional investor involvement from the likes of Nasdaq and ICE is another signal that the market is not likely to fall any further. Ethereum has led the rally so far this year with its upcoming Constantinople hard fork being the catalyst. A recovery of over 80% in just three weeks for ETH has bolstered crypto markets which have grown almost 5% since the new year started. Ethereum co-founder Joseph Lubin called the bottom in mid-December when most cryptos were at their lowest levels for 18 months; I am calling the cryptobottom of 2018. This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates. — Joseph Lubin (@ethereumJoseph) December 21, 2018 The momentum at the moment is slow but recovery is a painful process and will not happen overnight. A steady upswing for crypto markets will be far healthier for the ecosystem than the mass volatility of 2017’s bull run. The snow from the crypto winter could slowly be starting to melt. Image from Shutterstock The post Bitcoin Bulls Ready to Run, Why Crypto is About to Take Off Again appeared first on NewsBTC.

11 days ago

Verge (XVG) Technical Director Speaks About the Birth of XVG

Brandon Simons, the technical director at Verge (XVG), recently authored a Medium post detailing the origin and early development of the cryptocurrency. In the post, Simons explained that he first became interested in cryptocurrency in October 2009 and that he mined Bitcoin for two years. After losing thousands of Bitcoin due to a hard disk crash in 2011 Simons became involved with DogeCoinDark (DOGED), which eventually rebranded to Verge. Simons also explained that Verge remained unknown in the crypto space until the debut of the project whitepaper in June 2017. Despite Verge’s recurring hacks and precipitous drop in value, Simons says “Verge is truly something special, it is decentralized...Verge to me is the freedom to help create and shape something that truly [allows] people to retain a bit of their personal lives.” (RS)

13 days ago

#MerryChristmas everyone. For the final entry on our #adven...

#MerryChristmas everyone. For the final entry on our #advent calendar we present to you: "The Birth of Verge Curr… https://t.co/yuKLdjeO6O

21 days ago

Bitcoin Price Analysis: Bulls Draw the Line at $3,200

Bitcoin price ran hard this week and now appears to be taking a breather and consolidating…or receding to double bottom near $3,200. Bitcoin Price: Market Overview What a week! The stock market is closing in on the worst week in a decade. The American government is on the verge of a ‘shut down’ that could extend over the Christmas holidays, Brexit is still happening, Italy can’t manage their...

24 days ago

Half of Concensys’ Workforce May Soon Leave the Company

CoinSpeaker Half of Concensys’ Workforce May Soon Leave the Company Ethereum venture studio ConsenSys announced that they are cutting off funding for several of its start-ups. According to reliable sources, the company is spinning off several of its “spokes” in company parlance. On Thursday, The Verge published that around 50% of ConsenSys’ 1,200-person workforce could lose their jobs due to this move. Nobody is yet to confirm that figure but many other sources have highlighted that additional staff cuts are imminent. Thursday’s development follows another retrenchment announcement of around 150 workers. As we noted earlier, the laying off of 13% of the company’s staff came as part of ConsenSys ‘refocusing’ strategy. Sources have revealed that the company is presenting some of its spokes with an alternative to discontinue work. Those who choose to discontinue can seek investment outside or take up a severance package. The company is silent on the method they will use to jettison the spokes. The report follows a ConsenSys letter to staff announcing the company’s plans to toughen and streamline its business model. They said that the streamlining is necessary in an increasingly “crowded” competitive blockchain space. The Layoffs Joseph Lubin, the company CEO did not shy away from commenting on the matter. He said: “We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are.” While the company may reassign some of the staff from the closed down projects, Lubin allegedly never ruled out layoffs. The company announced that it is discussing the situation with all projects. They aim to determine the path forward whether internally as a segment of ConsenSys 2.0, or as an external brand. Another source explained the reason for the major shakeup. It said: “The world has not collapsed as [Lubin] planned, and so he needs to pivot his company because it was orchestrated for a vision only where Ethereum would be $10, 000.” The Second Layoff in Two Months It was just last month when ConsenSys released 13% of its workers. This move was a strategy to let the company remain competitive. The restructuring then was confirmed by Joe Lubin, the Founder. At the beginning of December, we reported that the company eliminated some of its underperforming projects due to the bearish crypto markets. After Thursday’s announcement, an unnamed source from within the company spoke of the recent round of layoffs. They said: “It was so shady. They were firing people they had hired two weeks beforehand. They were firing people who were pregnant and whose wives were pregnant” If the reports are true, many more individuals will depart from the biggest conglomerate of Ethereum start-ups. This trend of layoffs results from the current bear markets that haunted cryptocurrencies for the entire 2018. Meanwhile,Consensys is not the only project which chooses to axe part of the team amid bearish market conditions, Steemit let go 70% of its employees while Ethereum-based chat application Status plans to cut its staff by 25%. Half of Concensys’ Workforce May Soon Leave the Company

24 days ago

Tron [TRX] becomes biggest winner in the past 24 hours; skyrockets by 26%

The whole cryptocurrency market is rejoicing the return of the bull, as all of them are pictured in bright green. This includes all major cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH], XRP, Litecoin [LTC], and Tron [TRX]. Additionally, the bull’s return to the market marks a significant move as a majority of the investors were at the verge of being crushed by the bear market. Along with this, a majority of the coins were at the edge of the cliff, as they returned to trade at their previous year’s value, bringing new dawn upon the investors who stepped into the space earlier this year. Currently, the cryptocurrencies seem to be regaining its position in the market as they have started their preparations for the festive season. To add on, a majority of the cryptocurrencies are witnessing a rise in double digits, including the tenth-largest cryptocurrency by market cap, Tron [TRX]. According to CoinMarketCap, at press time, Tron was trading at $0.21, with a market cap of $1.48 billion. The cryptocurrency has a trading volume of $240.48 million. In the time frame of 24 hours, the cryptocurrency has seen a rise of 26.16% and has skyrocketed by 66.09%% in the past seven days. Tron [TRX] seven-day price chart | Source: Trading ViewThe majority of the trading volume is pouring in from UpBit, a leading Korean exchange platform around the globe, with TRX/ KRW trading pairs. The second highest is recorded on Binance, the biggest exchange platform in terms of trade volume, with Tether pairing, and the third is also occupied by Binance, with Bitcoin pairing. The other exchanges in the top five include Bit-Z, paired along with Bitcoin, and BitForex, with TRX/ USDT pairs. Recently, Tron Foundation in collaboration with Binance, has taken a step forward to help Maltese youth, and will be donating over $100,000 in cryptocurrency. Justin Sun, founder and CEO of Tron Foundation said: “TRON has always believed blockchain has enormous potential for social good. As a technology leader, our partnership with BCF and Malta is one of many ways of accomplishing change for the better.” The post Tron [TRX] becomes biggest winner in the past 24 hours; skyrockets by 26% appeared first on AMBCrypto.

25 days ago

Ethereum Studio Consensys’ Wild Ideas and Squandered Funds Led to Major Layoffs

Ethereum incubator Consensys is to cut 50 to 60 percent of its employees. The blockchain software company has already laid off 13 percent of its workforce in order to survive the bear market. According to one source, lack of product, wild ideas and an inability to sell technologies has made Consensys’ position financially precarious. As a result, Consensys will need to make further cuts. Also read: Thai SEC Plans to Relax ICO Regulation Consensys Spinning Projects Without Financial Support Consensys co-founder and crypto billionaire Joseph Lubin is aiming to transition the firm into “Consensys 2.0”, a scaled down version of the company believed to have had around 1,200 employees until recently. The Verge reports it has reviewed term sheets showing that at least two incubated startups within the company show Consensys is beginning to spin out its large portfolio of blockchain projects without the financial support they require to find outside funding and succeed. The current bear market has been difficult for many firms. The key question is what else may have contributed to the downfall of Consensys - careless planning? Mismanagement? Overzealousness? According to one source, for all the money Consensys raised, its lack of marketable products, overly ambitious ideas, and attempt to sell technologies that were not yet fully realized may all have hastened its downfall. “Raising Money for Projects Proved to Be an El Dorado” Ștefan Neagu, the co-founder of Persona, said: “Back in 2013, I was in Silicon Valley, trying to raise funds for a project I’ve been working on. I was talking with Tim Draper and he was willing to invest $500,000 in our project at the time. The due diligence was in the range of months, with cap table, pre-money valuation and a lot of legal work. There is no such thing that exists within crypto projects. Raising money for crypto projects proved to be an “El Dorado”, in which every project was over-funded.” In 2017, projects started to spend Consensys’ money with reckless abandon. “In my opinion, we reached this moment when projects are shutting down because of a combination of lack of skills or inexperienced management and a lot of overspending,” opined Neagu. “There were projects funded that were decentralizing everything, from bananas to sending the North Korean President into space. I think that this “purge period” is similar to the dotcom crisis, and only those projects that have a real value proposition and represent ‘a win for the masses’ will succeed to survive.” As further evidence of the downsizing trend, Steemit has also recently laid off 70 percent of its staff. Harsha Cuttari, CTO of AQUA Intelligence, says that the layoffs at Consensys are not out of the ordinary when considering the steep shift in prices for cryptocurrencies amid the recent fork. Cuttari believes the situation is similar to the 90s dot-com boom and subsequent decline, leaving companies like Consensys at the mercy of market forces. Do you think that Consensys mismanaged funds? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Ethereum Studio Consensys’ Wild Ideas and Squandered Funds Led to Major Layoffs appeared first on Bitcoin News.

25 days ago

Consensys’ Wild Ideas and Squandered Funds Has Led to Major Layoffs

Ethereum incubator Consensys is to cut 50 to 60 percent of its employees. The blockchain software company has already laid off 13 percent of its workforce in order to survive the bear market. According to one source, lack of product, wild ideas and an inability to sell technologies has made Consensys’ position financially precarious. As a result, Consensys will need to make further cuts. Also read: Thai SEC Plans to Relax ICO Regulation Consenys Spinning Projects Without Financial Support Consensys co-founder and crypto billionaire Joseph Lubin is aiming to transition the firm into “Consenys 2.0”, a scaled down version of the company believed to have had around 1,200 employees until recently. The Verge reports it has reviewed term sheets showing that at least two incubated startups within the company show Consensys is beginning to spin out its large portfolio of blockchain projects without the financial support they require to find outside funding and succeed. The current bear market has been difficult for many firms. The key question is what else may have contributed to the downfall of Consensys - careless planning? Mismanagement? Overzealousness? According to one source, for all the money Consensys raised, its lack of marketable products, overly ambitious ideas, and attempt to sell technologies that were not yet fully realized may all have hastened its downfall. “Raising Money for Projects Proved to Be an El Dorado” Ștefan Neagu, the co-founder of Persona, said: “Back in 2013, I was in Silicon Valley, trying to raise funds for a project I’ve been working on. I was talking with Tim Draper and he was willing to invest $500,000 in our project at the time. The due diligence was in the range of months, with cap table, pre-money valuation and a lot of legal work. There is no such thing that exists within crypto projects. Raising money for crypto projects proved to be an “El Dorado”, in which every project was over-funded.” In 2017, projects started to spend Consensys’ money with reckless abandon. “In my opinion, we reached this moment when projects are shutting down because of a combination of lack of skills or inexperienced management and a lot of overspending,” opined Neagu. “There were projects funded that were decentralizing everything, from bananas to sending the North Korean President into space. I think that this “purge period” is similar to the dotcom crisis, and only those projects that have a real value proposition and represent ‘a win for the masses’ will succeed to survive.” As further evidence of the downsizing trend, Steemit has also recently laid off 70 percent of its staff. Harsha Cuttari, CTO of AQUA Intelligence, says that the layoffs at Consensys are not out of the ordinary when considering the steep shift in prices for cryptocurrencies amid the recent fork. Cuttari believes the situation is similar to the 90s dot-com boom and subsequent decline, leaving companies like Consensys at the mercy of market forces. Do you think that Consensys mismanaged funds? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Consensys’ Wild Ideas and Squandered Funds Has Led to Major Layoffs appeared first on Bitcoin News.

25 days ago

Layoffs are Set to Continue at ConsenSys

A report published on Thursday by The Verge suggests that ConsenSys is set to lay off approximately 50 percent of its 1,200 person workforce. The news comes after an earlier announcement that ConsenSys would cut 13 percent of workers. An anonymous source said that ConsenSys is presenting some of its staff and projects with the option to discontinue their contract with a severance package or to seek external investment. In November ConsenSys founder Joe Lubin announced that ConsenSys 2.0 will be different as: “We are going to focus much more rigorously across the different business lines on accountability, that includes financial sustainability.” (RS)

25 days ago

The Verge: ConsenSys could be laying off as many as 50-60% of its employees

ConsenSys, the Ethereum production studio, could be laying off as many as 50-60% of its employees, according to The Verge. Documents reviewed by The Verge show that the production studio is spinning out a large number of its spokes. Spokes are essentially startups incubated by ConsenSys’ venture studio, ConsenSys Labs. According to ConsenSys Lab’s website, it has incubated over 50 spokes to date. According to The Verge, ConsenSys is forcing out spokes in favor of those building “core Ethereum tools.” These core tools are products that make it easier for dApps to build on Ethereum. Examples include MetaMask, Infura, PegaSys, Alethio, Kaleido, and Truffle. Spun-off spokes will be given the option of “either two months of severance or an equity stake of nearly 10 percent and a convertible note that would represent around a month of a spoke’s burn rate as part of a deal for a spin out.” “It was so shady,” a source told The Verge. “They were firing people they had hired two weeks beforehand. They were firing people who were pregnant. Whose wives were pregnant.” This news comes after the company reportedly laid off 13% of its staff and its founder, Joe Lubin, sent out a company letter stating that it will be restructuring to transition from ConsenSys 1.0 to ConsenSys 2.0. The post The Verge: ConsenSys could be laying off as many as 50-60% of its employees appeared first on The Block.

25 days ago

Contrary to Reports, Crypto Sector is Not Dead: Here’s Why

Bitcoin is dead; Blockchain is wasted; Crypto is gone-this is something the world has been told over and over again. The first ever article that predicted a bitcoin death was published in 2010 by Tim Harford, an economist. At that time, bitcoin was trading at $0.23. The following year, after bitcoin surged to $7.80, Gizmodo Australia wrote that the digital currency is dying. In 2013, New York Magazine penned ‘Bitcoin Sees the Grim Reaper‘ when bitcoin jumped above $100. Three months later, a Medium post predicted a horrific death for the digital currency, and it was well above $600 at that time. Fast forward five years, the predictions haven’t rested. The obituaries seem to have included even the underlying technology of bitcoin, the blockchain, for allegedly being totally-hyped and an utterly-waste. An article has already hanged a “rest of peace” sign around its neck. The Week in January discussed the death of crypto. And irony committed suicide when even a bitcoin millionaire said that bitcoin is dead. That totals to more than 300 times Bitcoin has been killed by the mainstream media, according to 99bitcoin’s death calculator. Value-Driven Sentiments The latest round of obituaries come in the wake of crypto market’s dismissal performance in 2018. Once at a peak, bitcoin and every major and minor crypto asset fell by at least 80%. The crash prompted many blockchain startups, which raised funds in bitcoin-like assets via ICO in 2017, to either shut down their operations entirely or layoff a considerable portion of their workforce. The Securities and Exchange Commission (SEC) rejected nine Bitcoin ETFs. Goldman Sachs and NYSE delayed their crypto-enabled products until next year. Nobel laureate Nouriel Roubini called bitcoin “a mother of all scams” before the US Congress and later patted his back when cryptos crashed. Even a controversial figure, the Wolf of Wall Street-famed Jordan Belfort, who scammed many in his notorious financial career, took a potshot at the digital currency, saying that it belongs to a scrapyard. It seems that every time cryptos suffer a financial tragedy, their critics get the moment to attack them and predicting their end. The majority of complaints crypto/blockchain sector is receiving during its downtrend is related to their alleged overvaluation, hype, lack of demand and unrealistic business models. While some of it is true to an extent, owing to an increase in the number of ICO scams and vaporware this year, that does not exactly prove that the entire sector is on the verge of dying. Crypto Not Dead Financial bubbles are not a thing that was born with cryptocurrencies. They have been there since the time of the infamous Tulip Mania, the Great Depression, and the very latest 2008 recession. Quite unlikely, nobody said that the US stock market would die or the value of the dollar will drop to zero. A 2012 Harvard Business School report found that only 1 out of every 10 startups will succeed. But it didn’t say that the entire startup industry was doomed to fail. How many of these startups, for argument sake, had an unrealistic business model? How many of them attracted accredited investor but failed anyway? How many of them were supported by more prominent corporations but worked against the hype? So why a blockchain startup industry should be viewed from a separate lens, even at a time when it is beginning to take its first steps towards actual adoption. Those who complain that blockchain does not have a “killer app” absent-mindedly sideline bitcoin, the world’s most secure and decentralized payment engine. On the contrary, they say bitcoin is doomed to fail, even though it is heading towards attaining the status of digital gold (or even the next global reserve), thanks to this their resembling characteristics. As for blockchain as a technology, crypto enthusiasts have already said that it should better be decentralized that being a random database of some random private company. Forced conversion of an already-working traditional business model into a blockchain-enabled model will always be a bad idea. The killer apps would belong to blockchain projects that are genuinely seeking an intermediary-free system or are solving a real-world problem. Big Corporations in Blockchain Some of the biggest corporations are already exploring blockchain and have successful derived suitable products using it. They include names like IBM, Cisco, PwC, and whatnot. “I think supply chain is going to be the first, if not near the first, to show the value of blockchain,” Mark Smith, CEO of Symbiont, a blockchain development company, told CNBC. “There aren’t any regulatory questions in supply chain management that you have to deal with.” “Blockchain’s really about trust in data and business processes,” said Ramesh Gopinath, vice president of blockchain solutions at IBM. “When you have to rely on data, four or five hops upstream, you have to have a reason to trust it, and blockchain provides that.” Th

25 days ago

Bitcoin [BTC] is uneconomical for marginal players as the prices decreases, says Bitcoin core developer

The whole cryptocurrency market saw the brighter side as all the currencies took the direction up north. This comes across as a significant move made by all the currencies as the investors were at the verge of giving up on the market. Additionally, last year this time, all currencies were on their way to hit their all-time high. This year, however, the market was concerned about Bitcoin entering a death spiral. Jimmy Song, a Bitcoin Core developer, discussed the mining cost over-riding the price of Bitcoin on the latest episode of Bitcoin brief. He also spoke about Bitmain’s position because of the mining cost and their investment in Bitcoin Cash. Song stated that the mining cost always increases during the bear market. He added that as the price decreases, it is more uneconomical for the marginal players. However, according to him, there are smarter players who can mine for cheaper prices. He said: “This is exactly what happened in 2014-2015, there were tons of mining manufacturers there were a lot of pools that more or less disappeared, you know, there used to be like cloud hashing contracts and things like that. None of those really are around anymore because they were really economically inefficient” He went on to say that anybody can earn money in the bull season because the market is “enormously profitable”. However, during the bear market, miners have to be a lot more economical in terms of where they get their electricity, mining equipment and how they source everything. Song said: “You can’t just pay everybody, like giant salaries and things like that and you know this is not only happening in mining, but in a lot of other places as well and that’s a very good thing because, you know, the the strong survive and you want the strong companies to survive. Now you know all these like fluffy ones that can only make money when everything is perfect.” Furthermore, he stated that Bitmain was one among the strong companies in 2014 and 2015, adding that it would be “interesting to see” if they are still one among them. “......Because I suspect they’re not anymore. They’ve grown too gigantic, they probably made too much money, have made a few too many acquisitions and of course they invested way too much in Bitcoin cash and have basically drunkenly gambled away a lot of their profits. so we’ll see how that plays out but that’s that’s my take on the current situation with mining.” The post Bitcoin [BTC] is uneconomical for marginal players as the prices decreases, says Bitcoin core developer appeared first on AMBCrypto.

a month ago

Bitcoin’s Tech Trends of 2018: What This Year Brought Us (Part 2)

This is the second part of our December cover story. Click here for part 1.Where 2017’s dizzying price highs embedded “hodl” into the public consciousness, 2018 was the year that “buidl" became a trend in the crypto-industry — and Bitcoin was no exception.Anticipated in Bitcoin Magazine’s first cover story of the year, Bitcoin’s technological progress only accelerated in 2018. Improving Bitcoin from around the world, developers and entrepreneurs furthered Segregated Witness adoption, rolled out the Lightning Network, released privacy solutions, realized sidechains and made progress on a Schnorr signature solution — all of which were still around the corner only a year ago.Following up on January’s cover story, 2018’s closing two-parter cover story explores how these five technologies progressed.In part two: privacy, sidechains and Schnorr signatures.Privacy SolutionsTwo of the most promising privacy solutions that were proposed over the past few years — TumbleBit and ZeroLink — were both on the verge of release at the start of this year.The first is TumbleBit, a coin-mixing protocol first proposed in 2016 by an academic research team led by Boston University’s Ethan Heilman. TumbleBit uses a (centralized) mixer to create off-chain payment channels between several participants in a mixing session. Everyone ends up with each others’ coins, breaking the transaction trail for all. Importantly, clever cryptographic tricks ensure that even the tumbler can’t establish a link between the users and their transactions.Excited by this potential, Bitcoin developer Nicolas Dorier and privacy-focused Bitcoin developer Ádám Ficsór (as well as several others) went a long way toward implementing the solution in the two years after it was first proposed. In early 2017, Stratis, the company behind the Stratis platform and token, even hired Ficsór to implement the technology in its Breeze wallet, which also supports bitcoin.However, back in July 2017, Ficsór had come to doubt the real-world potential of TumbleBit. The solution needs a relatively large number of on-chain transactions for each mixing session, potentially making it cumbersome and expensive to use.“I did not and I do not think anyone else ever thought through TumbleBit’s Classic Tumbler’s economics as I did now, in a high Bitcoin fee environment where we are inevitably going towards,” Ficsór wrote in a Medium blog post at the time. “To be completely honest, after I wrote all these down I became pretty disillusioned.”Ficsór and Stratis did complete the project. After years of high anticipation, TumbleBit was finally released in the Breeze Wallet in August of this year. But by then most of the enthusiasm around the project seemed to have waned. Breeze’s TumbleBit stayed off the radar of many, and because of that, usage statistics are presumably low.Instead, much of the effort to realize a more private Bitcoin shifted to the other major privacy solution: ZeroLink. Based on “Chaumian CoinJoin,” first proposed by Bitcoin Core contributor Gregory Maxwell in 2013, ZeroLink is a privacy framework first announced in August 2017 by the same Ádám Ficsór.ZeroLink allows several users to mix their coins in a big transactions that sends coins from all participants in a mixing session to all other participants. It has similar requirements (a central server) and benefits (breaks the trail of transaction) as TumbleBit, but Ficsór believes the trade-offs are preferable, most notably because ZeroLink requires fewer on-chain transactions.To realize ZeroLink, Ficsór set up his own Bitcoin privacy-focused company this year, zkSNACKs, which he first publicly revealed at the Building on Bitcoin conference in Lisbon in July.A rebrand of his initial “Hidden Wallet” project, zkSNACKs’ flagship product is the Wasabi Wallet, a desktop wallet with additional privacy features based on the ZeroLink framework. Besides Chaumian CoinJoin, this, for example, includes compact-client side block filtering: a privacy enhancing solution for light clients that don’t download the entire Bitcoin blockchain.The Wasabi Wallet was officially released on October 31 of this year, on the Bitcoin white paper’s 10th birthday. While still far from mainstream, Wasabi Wallet has already become the go-to privacy option for many of those that care about privacy the most. According to GitHub statistics, the wallet was downloaded thousands of times in the first few months since its release. And, according to the Wasabi Wallet’s website, it has mixed almost two thousand coins already.“Honestly, I've been astonished by the user growth and social media activity. If this keeps up we will finally be able to think about liquidity dependent privacy solutions, for example to allow direct sends through mixing,” Ficsór told Bitcoin Magazine. “Exciting times.”The ZeroLink framework is being adopted as a standard by other wallets as well. The new (and so far relatively unknown) Bob Wallet announced in March that it is developing a

a month ago

IOTA Price on Par to Hit $0.3 if Bulls Remain in Control

It has been a rather interesting start to the week for all cryptocurrencies and digital assets. Very strong gains were noted when Sunday afternoon transitioned into Monday morning. That positive momentum is still in place nearly 48 hours later. The IOTA price, for example, has seen a very notable uptrend ever since. A market reversal seems imminent, although there is still a lot of bearish pressure. IOTA Price Uptrend Continues Whenever any financial asset starts to gain value for several days in a row, there is some room for concern. More specifically, no market can go up in value indefinitely and a correction will always kick in sooner or later. This week may not necessarily be any different, primarily because there have been several hourly charts which looked extremely weak. IOTA is, until proven otherwise, no exception whatsoever. Although the 24-hour chart still looks good, the current gains may go through a small correction of their own. There is still a 13.5% increase in USD value and 7.3% improvement in the MIOTA/BTC ratio. The current IOTA price of $0.29 is relatively high, especially when considering how the altcoin was on the verge of dropping below $0.2 not that long ago. A near 50% increase in value will not go by unpunished, although it mainly depends on what happens to Bitcoin over the coming days. Behind the scenes of IOTA, a few interesting things have begun taking shape all of a sudden. First of all, there is a new partnership between IOTA and eCl@ss to standardize the industrial Internet of Things. This is another pretty big partnership for the cryptocurrency and blockchain project, a sit fortifies its position in the IoT industry as more time progresses. @eClassStandard: Partnership to help #IOTA become standard data protocol for the Industrial Internet of Things (#IIoT).https://t.co/4S5TDduHZJ pic.twitter.com/78ujQ4yckf — CriptoCanarias (@CriptoCanarias) December 19, 2018 The second major development comes in the form of IOTA Hub. It is a new solution which primarily focuses on simplifying token management for IOTA-based services. It seems this can be a viable tool for exchanges looking to add IOTA to their platform at some point in the future. Tools like these can have a major impact on the cryptocurrency ecosystem as a whole. #IOTA Hub makes integrating IOTA simple for any kind of service provider. Using Hub, an exchange can be ready to support IOTA in weeks rather than months, just by connecting Hub to their existing trading platform. pic.twitter.com/qJnN2ciYad — IOTA News (@iotatokennews) December 19, 2018 Based on the current market conditions, it would almost seem as if IOTA is getting a lot of love right now. This most recent price trend is quite spectacular to behold, primarily because the year 2018 has been overwhelmingly negative in many different ways. Although this has all of the signs of a massive market recovery, it would appear that is not necessarily the case. There is a very likely chance this is all a temporary rebound, albeit one can only hope for the best. Seen the low at #IOTA!? #IOTAstrong #IOTALove pic.twitter.com/s3zm2jlPGw — Philip Leinsle (@PLeinsle) December 19, 2018 As promising as things may look for this particular altcoin right now, a drop to $0.25 is not entirely out of the question by any means. The overall trading volume is very low for this particular market, as just $17.4m is anything but impressive. Even so, things can still turn around when people least expect it, as these markets remain unpredictable first and foremost. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post IOTA Price on Par to Hit $0.3 if Bulls Remain in Control appeared first on NullTX.

a month ago

@binance and @cz_binance are on a verge of bringing the idea...

@binance and @cz_binance are on a verge of bringing the idea of #decentralization back to the #crypto markets. Why… https://t.co/Tfv5S6mZTQ

a month ago

Stellar Lumens Price Analysis: XLM Is On The Verge Of a Bullish Breakout

XLM/USD Price Medium-term Trend: Bearish Resistance levels: $0.10, $0.12, $0.13 Support level: $0.09, $0.07, $0.05, The XLM price is bearish on the medium term. The coin bottomed at the support level of $0.10 on December 7. The bulls resisted further downward movement, XLM price was pushed up, broke above the resistance level of $0.12 (the push-up served as a price retracement for the downward trend on the XLM market). XLM resumed its bearish trend after the retracement and the price fell from $0.12 price level to the low of $0.09 price level. Currently, another price retracement is ongoing before the downtrend continues. XLM price is trading below the 21-day EMA and 50-day EMA with the two EMAs fanned apart implies that bearish pressure is high on the XLM market. The Stochastic Oscillator period 14 is above 50 levels with signal lines pointing up indicates buy signal, which may be a pullback. A breakout below the support level of $0.09 will further decline the XLM price towards $0.07 - $0.05 price level. XLM/USD Price short-term Trend: Ranging On the short term trend, the XLM price is ranging. The bears lost their pressure at the support level of $0.09 price level. The morning star candle pattern formed at the level signaled the returning of bullish pressure into the XLM market, which pushed the price up but resisted by the dynamic resistance and support that led to the price consolidation on and around the 21-day EMA and 50-day EMA. The price is consolidating over the two EMAs and the two EMAs closed to each other confirm the ongoing consolidation movement. However, the Stochastic Oscillator period 14 is above 70 levels with signal lines pointing to the north which indicates buy signal. Should there be a clear penetration above the resistance level of $0.10 then the bullish rally will be anticipated towards the resistance level of $0.12 - $0.13. The post Stellar Lumens Price Analysis: XLM Is On The Verge Of a Bullish Breakout appeared first on ZyCrypto.

a month ago

Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings

Every day, the crypto market is on the verge of entering darker territory, and as prices continue to plunge, many cryptocurrencies have become the victims of sudden sell-offs. An initial coin offering (ICO) called Substratum has even taken to day trading its present ether holdings to make up for potential losses. In a YouTube video, a figure named Justin from the Substratum network announces that the company is opening the doors to a token swap set to begin on Monday, December 17. The smart contracts for the company will begin then and batch transactions will start happening over the Ethereum network. Old Crypto Becomes New Crypto Prior to this date, executives will be moving any remaining Ethereum tokens in their crowdsale wallet over to a new wallet. If a person’s tokens are on Binance, the switch will be occurring natively through the exchange. Thus, customers will not need to worry. If a customer’s tokens are locked up in a wallet for an airdrop, they too will not need to take any steps. The move from the present wallet to the new wallet will occur on its own time. All older tokens will become frozen and unusable while the new tokens will be transferred into customers’ wallets. The company is also moving from two decimal places to 18 decimal places, which representatives claim will make transactions faster and more efficient. The smart contract has been fully audited by Quantstamp; furthermore, 120 million old tokens have been burned thus far. They will not be coming over through the transfer but will rather disappear into what Justin calls “the ether.” These tokens are set to disappear completely. The transfer will not be done within a set timeframe. The transfer is indefinite and will last until all customers’ wallets have received their new tokens. Predicting What the Future Holds Substratum now has a full-time trader on staff, who has suggested that Ethereum is going to be continually tested over the coming months. The bear market is not letting up and he has stated that Ethereum could fall to as low as $60. Executives are not necessarily looking to cash out. Instead, they will be trading only a portion of the Ethereum they possess, which they claim will give them the chance to “trade up” and potentially earn a little revenue before the crypto market falls any further. Once the market becomes bullish again, Justin claims in the video that Substratum will be in a better place and will be able to create newer (and better) products. Do you foresee the market getting even worse before it gets better? Post your comments below. Image courtesy of Shuttershock The post Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings appeared first on Live Bitcoin News.

a month ago

@finchify @Cryptoshockllc @novogratz @Everipedia @Cypherglas...

@finchify @Cryptoshockllc @novogratz @Everipedia @CypherglassBP @ChintaiEOS Naaa, usually I let EOS, XRP, XVG, DAS… https://t.co/sYm5UXO8tP

a month ago

Abra will Gift $25 Worth of BTC to Users who Purchase $1,000 of BIT10 Token

Abra recently announced that it will gift $25 worth of Bitcoin to all users who sign up to purchase $1,000 worth of its BIT10 “exchange-traded fund” token. The cryptocurrency exchange and wallet manager specified that the purchases must be made before the end of 2018 and BIT10 token can only be used on Abra’s platform. The token functions as a market tracking index token that monitors the top 10 digital currencies each month. If the market cap of these assets change then the value of BIT10 will mirror these movements. Abra’s BIT10 developers recently claimed that the native asset “historically outperformed the price of Bitcoin alone” but at the moment the cryptocurrency market continues to fall and is on the verge of dipping below $100 billion in total market capitalization. (RS)

a month ago

Bitcoin Bomb Threats Strike Hong Kong After Debacle In U.S., Canada

Over the past 72 hours, bomb threats attempting to extort Bitcoin (BTC) from business owners and governmental agencies have taken the world by storm, affecting thousands across Canada, the U.S., and New Zealand. Although the threats have begun to recede from the limelight in the western world, the issue may only be getting started across the Pacific Ocean in Asia. Hong Kong Targeted By Bitcoin Bomb Threat According to an exclusive report from the South China Morning Post (SCMP), an English news outlet centered around Asia’s happenings, bomb threats requesting BTC have arrived in the inboxes of a number of Hong Kong firms. As Michael Gazeley, CEO of Network Box, burned the candle on both ends on Friday, he purportedly saw a foreboding message land in his business email, telling the SCMP that he was “shocked.” This message was, of course, a threat from an anonymous group(s) asking for $20,000 U.S. worth of cryptocurrency in an apparent shakedown. If the specified sum, dubbed a “security fee” by the group(s), wasn’t sent to the sender’s address, the terrorists claimed that they would bomb Network Box’s offices. In an interview with the outlet, Gazeley, obviously perturbed by the occurrence noted: “This looks like the third wave of blackmail emails plaguing the world in the past few years... I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.” Yet, the cybersecurity expert went on to add that he was 99.999 percent confident that the message wasn’t worth its water, so to speak. Gazeley drew attention to the layout, language, and the poor grammar contained within the email — accentuating that this message is nothing more than a poor attempt at a money grab scheme. Hong Kong authorities have yet to comment on this odd Bitcoin-related case, so it remains to be seen how many businesses came under fire. Yet, a representative from the IT branch of Hong Kong’s legislative council lambasted this new scam format, stating that “scammers need to be smarter,” making it clear that such a form of extortion is ineffective and baseless. Canada, U.S. Also Hit With Issue This news comes just days after this same issue struck businesses throughout North America. As reported by NewsBTC previously, on Thursday, a number of places of work, public places, stores, and pertinent landmarks were targeted by the same scam outlined above. Although police departments, namely New York’s, have made it clear that such emails hold no credence, a number of firms purportedly closed up shop as a preemptive security measure. A number of subway stations in Toronto, Canada’s largest city, purportedly shut down operations due to the threat. A community hospital in Hillsboro also decided to temporarily shutter its operations. Per The Verge, even Infinity Ward, the development company behind Call of Duty, had also made a conscious decision to evacuate its headquarters. Seeing that no explosions have occurred at locations targeted, it can be assumed that these threats have lacked legitimacy since day one. Featured Image from Shutterstock The post Bitcoin Bomb Threats Strike Hong Kong After Debacle In U.S., Canada appeared first on NewsBTC.

a month ago

University researchers: There is evidence of pump-and-dump schemes prior to 51% crypto attacks

A group of university researchers published a study assessing the influence of 51% attacks on proof-of-work cryptocurrency prices. The study analyzes an exhaustive sample of 14 individual attacks on 13 cryptocurrencies. They are Bitcoin Gold, Bitcoin Private, Electroneum, Feathercoin, Karbo, Krypton, Litecoin Cash, MonaCoin, Pigeoncoin, Shift, Terracoin, Verge (attacked twice) and ZenCash (recently renamed to Horizen). Here is what the researchers found: 51% attacks on a blockchain show an immediate decrease in the corresponding coin’s prices by 12 to 15 percent Coin prices do not recover to pre-attack levels one week after the event There are apparent positive abnormal returns generated by coins on the two days preceding a 51% attack The researchers believe this suggests evidence of some insider trading or pump-and-dump schemes performed by the attackers prior to 51% attacks The post University researchers: There is evidence of pump-and-dump schemes prior to 51% crypto attacks appeared first on The Block.

a month ago

Why are they Calling 2019 “the Stablecoin Year”?

2018 was a tough year for everyone in crypto - the bear market took away a good chunk from the crypto portfolio and many coins lost more than 90% of their initial value. Source: https://coinmarketcap.com/ Nobody likes to lose money, which is why stablecoins recently surged in popularity. A lot of new stablecoins were issued, with a lot more to come, and it’s possible that 2019 will be the year of stablecoins. Stablecoins allow people to escape the instability of the market to the safety of asset-backed cryptocurrencies. But there’s a problem with stablecoins: many of them are backed by the dollar, and we are possibly standing on the verge of another great recession and major economic downturn. Nobody knows what will happen in 2019. Is it safe to rely on fiat-backed stablecoins? Read on if you want to know! Stablecoins: the pros and cons All stablecoins can be divided into three categories: Fiat-backed stablecoins - The most common collateral here is USD and each token (usually it’s a ERC20 token) is backed with 1 currency unit, stored in the bank accounts of the issuer. Distributed stablecoins - These tokens aim to achieve the stability of the US dollar by mathematical algorithms, using collateral stored in the system and keeping enough physical assets to back all issued stablecoins. Stablecoins backed by precious metals - Each token is collateralized by a specific amount of gold or silver. The first stablecoin was launched in July 2014 on the BitShares platform. It was called BitUSD and collateralized by pools of the platform’s native cryptocurrency, called BitShares, so it can be classified as a stablecoin. It didn’t become popular and the algorithm for price pegging was weak - based only on the assumption that market participants would buy and sell all tokens below and above the $1 price until it reaches the peg. The next one was Tether. Tether was issued on October 6, 2014, and was initially named “Realcoin”, before officially announcing the rebrand as ‘Tether’ when it opened for private beta. It was assumed that every USDT token is backed by one dollar. However, in April 2017 Tether was cut off from all its banking services by Wells Fargo, and since then there has been no clear evidence that its funds are backed by anything. Until that date, it was unknown where its funds were stored and no audit was provided. Since then, it has issued 2 billion new USDT tokens and only in October had they found a new banking partner, Deltec Bank. So it’s again about trust, not about transparency. Source: https://coinmarketcap.com/ The more recent examples of stablecoins issued in 2018 include Gemini USD (GUSD), TrueUSD (TUSD), and USDC (a stablecoin by Circle). All of them are backed by audited funds, thus investors can be sure that all tokens will maintain their peg and be fully redeemed upon request. There is only one problem: are they more stable than the US dollar that backs them, and what will happen if the fiat system became unstable? Fiat problems The US dollar has been considered a stable currency for decades. The US controls the world’s reserve currency, the dollar, that is used in 51.9% of all international trades, essentially backing up the whole world’s economy. The US economy is the strongest one with the highest GDP of $19.5 trillion in 2017. When anyone needs dollars for trading, the US can print more of them. That’s why they can grow the government debt by issuing new treasury bonds - and everyone is happy to buy them. Furthermore, investors have abandoned the stock market in favor of US bonds after the recent rate increase. So, whatever happens, the US dollar is protected more than any other commodity in almost all cases. Except for one. Source: https://tradingeconomics.com/united-states/interest-rate The debt that started growing in 1970s, and exceeded $21 trillion in 2018, is a very worrisome state of affairs. It’s nearly equal to the USA’s annual GDP, and it continues to grow by $1 trillion every year. Experts don’t think it will ever be paid off. The government isn’t ready to slow down economic growth in favor of paying off debts. But the economy is already showing signs of slowing down. The markets are also tumbling down. There are chances that this will evolve into a terrible recession, and it’s even possible that the next crisis will happen in 2019. Sooner or later, the US will have to deal will their enormous debt. What will be the consequences and what impact will it have on fiat and fiat-backed stablecoins? No one knows, simply because there is too much uncertainty around the subject. There are two chain of events that could happen: There will be a strong recession with falling stocks and failing crypto portfolios. Bitcoin and stocks are heavily correlated, so when stocks begin to crash, Bitcoin and other cryptocurrencies also won’t do great, because investors pull out money from risky assets. It’s not that easy to pull money out of crypto: you have to wait a few days, even if your

a month ago

Bitcoin Scammers Target Schools and Businesses With Fake Bomb Threats

Numerous bomb threat reports surfaced on Tuesday where Bitcoin scammers asked schools, businesses, and other organizations to pay $20,000 in BTC to ensure that the bombs are not detonated. The threats were sent via emails in multiple countries. The authorities have claimed that no actual bombs have been found in connection yet. A New Spin on an Old Scam Extortion in Bitcoins is nothing new. Last year, the world witnessed the WannaCry ransomware which asked users for a Bitcoin payment after holding their devices hostage. There were numerous reports about people receiving fraudulent emails and calls that threatened them with dire consequences if Bitcoin payments were not made within a set time. The new bomb threat emails are working on the same pretext, asking users for Bitcoin payments for not detonating a bomb in their premises. Law enforcement authorities have confirmed that no real explosive devices have been detected in connection with the emails. The New York Police Department tweeted on Thursday: “Please be advised - there is an email being circulated containing a bomb threat asking for bitcoin payment. While this email has been sent to numerous locations, searches have been conducted, and NO DEVICES have been found.” What Do the Emails Say? The emails say that a bomb has been planted in a person’s office or building and if they fail to make a payment of $20,000 in Bitcoin by the end of the day, the bomb will be detonated. The emails were sent to several schools, universities, courthouses, media outlets, and private businesses and some of these buildings were evacuated as a result. The scammers also provided Bitcoin addresses where the money must be sent, and these addresses have varied between emails. According to the Verge, at least three different Bitcoin wallets could be connected to these bomb threats. The FBI also spoke on the issue, stating that they are aware of the bomb threats and are in touch with law enforcement. “As always, we encourage the public to remain vigilant and to promptly report suspicious activities which could represent a threat to public safety,” the FBI noted in a statement. Similar threats have been reported in New Zealand as well as Canada. Bitcoin Scammers Target Schools and Businesses With Fake Bomb Threats was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a month ago

RT @roomofsatoshi: That’s right, Australians can now pay the...

RT @roomofsatoshi: That’s right, Australians can now pay their bills with Verge at https://t.co/1SjpRDisCj 😎 https://t.co/HZfmJ0FKze

a month ago

Verge Price Experience Growth Despite Current Bearish Market Trend

With the current slump in the crypto market, many digital currencies are facing significant price dip. However, this is not the case with the Verge as in just over the past 24 hours alone, it experienced a 3.5 % rise in USD value as well as a 9.5% gain in Bitcoin value. This means a small entry of fresh capital is sufficient to spark Verge success. Since the weekend is here, fiat liquidity, as usual, is anticipated to dry up with the obvious impact being a decrease in price value. According to a report, Verge has availed a new development update that features upcoming Verge highlights. Although no immediate effect is anticipated, these updates, in a nutshell, will make Verge gain an upward price surge. (VK)

a month ago

Ethereum Drops Below $100 but Network Usage Remains Stable

Ethereum’s (ETH) price dropped below $100 again as many of the top cryptocurrencies dropped 5 to 10 percent today. Trading volume for ETH remains near $2.2 billion but the altcoin is on the verge of seeing its market cap drop below $10 billion. Ethereum longs reached 500,000 in April and today they are down to nearly 300,000. At the same time, ETH shorts rose from 100,000 in November to nearly 300,000 today. On a more positive note, Ethereum’s network usage remains stable which shows the protocol maintains a healthy amount of utility but for some reason, the divergence between ETH price and network usage is increasing. Some analysts believe Ethereum’s network usage needs to increase in order for the price to stabilize or increase. Alternatively, there are some who believe Ethereum’s price could increase as the supply is halved in January 2019. (RS)

a month ago

@marpme_ @SwenVanZanten @XVG_TOKENPAY Also, to be clear, we ...

@marpme_ @SwenVanZanten @XVG_TOKENPAY Also, to be clear, we don’t think anybody at Verge needs our help and are not… https://t.co/ynXB4avXsZ

a month ago

Vertcoin (VTC) 51% Attacked, $100,000 Lost via Double Spend

The Vertcoin (VTC) network was successfully 51% attacked, and a large reorg happened that cost them more than $100,000. We have already seen weaker blockchain platforms like Bitcoin Gold (BTG), Verge (XVG), and ZenCash being hit with 51% attacks in the recent months. Vertcoin (VTC) 51% Attacked And now, we have the Vertcoin going through the same fate again. Moreover, an interesting part is that San Francisco-based crypto exchange, Coinbase has given an official statement on this attack, claiming that the Bitcoin-like networks (or forks of BTC) are weaker and less secure. This may be why Coinbase did not list Vertcoin, whereas, competing exchanges including Binance and Bittrex have listed it. Vertcoin 51% Attacked A 51% attack was performed on the Vertcoin blockchain on 2nd of December, and double spending happened, costing the network to lose more than $100,000. It was reported that a large amount of ASIC hash was rented to orchestrate this attack. Successive reorg on the blockchain was performed. Vertcoin went through repeated reorg going as deep as 307 blocks. Vertcoin Against ASICs Proving to Be Insecure The Vertcoin algorithm is designed to be ASIC-resistant - in order to make the mining more decentralized. So anyone with a graphics card can easily mine Vertcoin. The drawback of this, however, is that such a network can be attacked by anyone having a standard graphicss card, unlike other ASIC coins such as bitcoin (BTC) - which require ASIC mining equipment to perform 51% attacks successfully (even they it may be practically impossible to do so on the BTC blockchain). Coinbase Making Use of this Opportunity Coinbase came out with a detailed article about this attack in an official blog post, criticizing the Bitcoin-like Networks that are clearly vulnerable to attacks. Coinbase was targeting its competitors who have listed Vertcoin. The US-exchange may have taken advantage of the situation to inform people about other exchanges that have listed insecure coins. Advice to Investors Experts have always advised investors to be cautious and keep away from low cap coins, as they are vulnerable to 51% attacks. But investors go after those coins for making quick money. These coins, if invested in without prior research, can lead to a loss of funds. Therefore, it is better to invest in a more secure and reliable blockchain network like Bitcoin (BTC) - which is the most secure network in the entire blockchain ecosystem. Millions of dollars and electricity are required to attack the Bitcoin network, and it is also logistically highly infeasible. The post Vertcoin (VTC) 51% Attacked, $100,000 Lost via Double Spend appeared first on Crypto Core Media.

a month ago

Vertcoin 51% Attack Could Have Caused $100K in Double Spending

Vertcoin has been experiencing ongoing 51% attacks, reportedly resulting in $100K of double spending on the network. Rough Couple of Months for Vertcoin In a detailed blog post, Coinbase security engineer Mark Nesbitt revealed that Vertcoin’s network went through repeated 51% attacks, with the largest reorganization having a length of 310 blocks and a depth of 307 blocks which, according to the specialist, may have caused double spends upwards of $100,000. The incidents started in October and happened on four different occasions, the last of which was supposedly ongoing at the time of publishing the blog post - December 2nd. According to Nesbitt, the last incident was comprised of four reorganizations, all of which resulted in double-spend transactions. It’s worth noting that Vertcoin’s mining algorithm is deliberately geared against ASIC and ASIC-like devices by making them particularly inefficient. Instead, mining on the network is designed to be achieved solely through commonly available graphics cards. This is supposedly an attempt to hedge against mining centralization. Nesbitt argues, though, that this is largely counterproductive to the network’s security because it enables anyone in the world who’s using graphics cards to attack the coin as opposed to networks mined with ASICs (e.g. Bitcoin) where only ASIC users can attack the coin. The Importance of Network Strength This year has seen a rise in 51% percent attacks against cryptocurrencies such as Verge, Bitcoin Gold, and ZenCash, to name a few. Some projects have already taken steps to prevent this kind of incidents in the future. Bitcoin Gold’s team revealed that it plans a hard fork as a solution to prevent 51% attacks. A 51% attack takes place when an individual or a group of individuals control more than 50% of the network’s mining hash rate or computing power. Bitcoin’s network is by far the most secure blockchain today. Mining bitcoin is designed to be particularly energy intensive. The computational power needed to generate new blocks requires a great deal of electricity to power up the specialized mining hardware. Simply put, attacking the network is a lot more expensive than to defend it. Tracking site Crypto51 measures the theoretical cost of 51% attacks on each network. According to it, sustaining such an attack against Vertcoin would only cost $125 per hour, while attacking the Bitcoin network would cost $255,744 per hour. What do you think of the latest 51% attacks on Vertcoin? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Vertcoin 51% Attack Could Have Caused $100K in Double Spending appeared first on Bitcoinist.com.

a month ago

Thailand's Revenue Department Pilots Blockchain Platform for Tracking VAT Payments

Thailand’s Revenue Department is trialing a blockchain-based program that tracks value-added tax (VAT) payments. Ekniti Nitithanprapas, the director general of the Thai Revenue Department, explained that the department aspires to “use blockchain technology to prevent VAT refund fraud” and the country is on the verge of becoming the first country to use blockchain for tax probes. Nitithanprapas also explained that blockchain will be used to verify VAT invoices and expose counterfeit invoices for VAT claims. The revenue department is also looking into adopting machine learning and using artificial intelligence to “learn and study tax-cheating practices.” (RS)

a month ago

Stellar [XLM] Price Analysis; Project Registers Over One Million Active Users In Two Months

Stellar keeps on growing by the day. Although the coin’s price and market capitalization might not show it right now, the project has come a long way. In less than four years, the project has grown its user base from 0 to over 2 million according to an official announcement by the team. According to the project’s official Reddit account, the project has successfully registered more than 1 million active users on the platform in the last 2 months. This marks a 100% growth in the last 2 months. After initially releasing in 2015, the project took more than 3 years to get a million active users, but in 2 months has successfully doubled that number. Could this signal some great things to come out of the project? Before thinking that the project is on the verge of something big, let’s not forget that Blockchain.com wallet recently announced a Stellar airdrop. For many of the users who’ve come on board the project, their primary after the reward- which is the largest airdrop in the history of cryptocurrencies. This means that soon after the airdrop, the number will definitely be dropping unless the project can come up with a way to keep them onboard. XLM Price Analysis Stellar XLM could definitely do with some good news as the coin begins the week on a downward trend. The coin has today followed the wider market drop that has seen major coins slip. Bitcoin, for instance, is hanging on the $4,000 mark with a 3% drop coming in the last 24 hours. Stellar is at the time of press down by 5%. Stellar XLM is now trading for $0.156316 with a market cap of $2,994,149,341 making it the fourth largest cryptocurrency. In the last four weeks, Stellar has taken a dramatic turn for the worse following a market sell-off. Stellar has dropped from highs of $0.28 to lows of $0.14. At the beginning of December, the coin was able to bounce back up and climb above $0.16 but was met with resistance. In the coming days, the coin will try and capitalize on the high activity level in the project to push XLM high. This will, however, be contingent to the wider market finding some momentum and staying green. The bulls will be looking to get above the $0.20 position fast but will have to first get above $0.16 where the coin is currently struggling to get above. The post Stellar [XLM] Price Analysis; Project Registers Over One Million Active Users In Two Months appeared first on ZyCrypto.

a month ago

CNBC’s Melissa Lee takes a bullish approach against UBS’s Paul Donovan

CNBC’s Fast Money Melissa Lee recently interviewed Paul Donovan, the global chief economist for UBS, regarding his case against Bitcoin and the interviewer ultimately took a bullish approach. Donovan blasted Bitcoin in a blog post, saying that he will “bury Bitcoin“and not “praise it“: UBS on the fall in Bitcoin: There is some good news. The time, effort and electricity that built the bubble can now be used to do something useful. Giving money to cryptocurrency creators was not useful. Getting skilled people to do something useful boosts the economy. @crypto pic.twitter.com/cOY42JwlHW — Julie VerHage (@julieverhage) November 28, 2018 The USB economist believes that the cryptocurrency is on the verge of death; that the severe decline it has been facing is “not healthy” and that the designers of the blockchain-based tender are “brilliant at maths” but “appear to know nothing about economics“. UBS says it’s time to bury bitcoin. The man behind the bold call UBS’ Paul Donovan makes his case. #bitcoin $BTC pic.twitter.com/8eX8E4fK1A — CNBC’s Fast Money (@CNBCFastMoney) November 29, 2018 In a telephonic interview with Fast Money, Donovan took his stance that Bitcoin and the cryptocurrency industry is a bubble and held it while being questioned by Lee. He said”: “These things were never going to be currencies, they’re not going to be currencies at any point in the future. They are fatally flawed, and as a result, right from the start of the hype late last year, it was fairly obvious that this was going to end badly. Unfortunately, some people who were not protected by any kind of regulation got sucked into the process.” Although he remained bearish, the CNBC representative took a more bullish approach, pressing Donovan on the topic. At present, Bitcoin is trading at $4013.59 USD - which is a 3.42% decline on day-on-day trading. The post CNBC’s Melissa Lee takes a bullish approach against UBS’s Paul Donovan appeared first on Coin Insider.

a month ago

Bitcoin Trading Volume Exceeds $2 Trillion in 2018 Despite Year-Long Bear Market

With a few weeks still left in 2018, the total Bitcoin trading volume for the year has already crossed $2 trillion. Many countries have also seen record BTC trading volume at different points of the year with more everyday people seemingly adopting the popular cryptocurrency. Bitcoin Trading up 61 Percent Since 2017 This volume of trade is especially profound given the tirade of criticism from vocal naysayers who continue to engage in Bitcoin bashing. According to Satoshi Capital Research, the notional value of BTC traded so far in 2018 stands at $2.2 trillion. The figures posted so far represent a 61 percent increase from last years total volume of $870 billion. However, the growth recorded in 2017 - 96 percent still dwarfs that recorded in 2018 and will remain so unless a massive spike in BTC trading occurs between now and the end of the year. To put things in perspective, Mastercard recently published its Q3 2018 financials which showed a total transaction volume of $4.4 trillion for the year. The world’s second largest payment card company also settles about $12 billion worth of transactions per day. From these figures, Bitcoin 00 is already at half the transaction settling capacity of Mastercard despite losing close to 70 percent of its value during the year. BTC’s daily volume which is at $8 billion, isn’t a million miles away from Mastercard’s. Why do the Nocoiners Rage? Some might argue that the analysis above is akin to comparing apples and oranges. This is because Mastercard’s figures only cover payments made to retail merchants on both online and offline platforms. The figures for Bitcoin come from merchants, futures trading, exchanges, and even international payments. However, the fact that a cryptocurrency with a sub-$100 billion market cap is posting figures in the same ballpark as Mastercard is a glowing endorsement of BTC’s uptake. This assertion is especially true given the negative rhetoric espoused by critics such as Paul Donovan of UBS who recently said that the world’s most popular cryptocurrency Bitcoin is on the verge of falling apart. Things may even get better for cryptocurrency trading as a whole. Earlier in the year, Bitcoinist reported that digital currency trading might grow by 50 percent in 2019 based on a study by Satis Group. Do you think the 2018 Bitcoin trading volume negates the “Bitcoin is dead” argument espoused by vocal nocoiners? Let us know your thoughts in the comment section below. Image courtesy of Twitter (@chartingbitcoin), Bitcoinist archives The post Bitcoin Trading Volume Exceeds $2 Trillion in 2018 Despite Year-Long Bear Market appeared first on Bitcoinist.com.

a month ago

Tron Could Use zk-SNARKS in Enhancing their Privacy as From Q1 2019

Recently, in an interview with Bad Crypto Podcast, Tron's Justin Sun revealed that Tron could soon be a privacy coin by adopting zk-SNARKS. This was in reply to a question asked by Rachel Wolfson of Bad Crypto about Tron's privacy concerns. Sun believes this will be a game-changer for their network since privacy is essential. The zero-knowledge proof will be adopted in Q1 2019. With the adoption, Tron hodlers will use private addresses which will make their transactions untraceable. Tron will join other privacy coins like Zcash, Verge, and Monero. (KE)

a month ago

Tron (TRX) Could Adopt zk-SNARKS To Enhance Privacy by Q1 2019

The Tron (TRX) cryptocurrency could soon join the list of privacy coins such as ZCash (ZEC), Monero (XMR) and Verge (XVG). This is according to the project’s CEO and Founder Justin Sun. Justin made the statements about privacy on the Tron network during an interview with the team at the Bad Crypto Podcast. (A recording of the interview is available online for further reference.) In the interview - and around the 22 minute mark - Justin is asked by Bad Crypto’s Rachel Wolfson, about the concerns of privacy on the Tron blockchain since everything is evidently transparent. Justin Sun responded to the question as follows: First of all, I think that transparency [on the Tron blockchain] is very important...and also the governance. That is how people have trust in this network. I think privacy is also important for the network. So that’s why I think in next year, Q1, we will adopt the zk-SNARKs into our network. So zero-knowledge proof into our network... This is how we can improve the privacy of the whole network. So in the future, if you want to have these private transactions and a private address, we can also make sure...if you use the address...that nobody can see you...the transaction can be untraceable. We provide a different solution, and depending on your preference, you can choose a different one. This Would Be a Game Changer For TRON The Tron community has already seen how significant the implementation of zk-SNARKS would be on the Tron network as can be seen in the following tweet by @TronColony. #Tron will adopt zk-SNARKs (zero-knowledge proof) in Q1. What is zk-SNARKS? It allows people to prove possession without revealing the information. This will give $TRX hodlers the option to use private addresses and make transactions untraceable. Gamechanger #TRX — TRX Colony (@TronColony) November 30, 2018 What is zk-SNARKS? The ZCash cryptocurrency is the first widespread application of zk-SNARKS: a form of zero-knowledge cryptography. The technology allows for shielded transactions to be fully encrypted on the blockchain yet still be verified as valid through consensus rules by using zk-SNARKS proofs. The team at ZCash further explains the protocol as follows: zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier. “Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is. What are your thoughts on the possibility of Tron (TRX) implementing the privacy protocol on its network? Please let us know in the comment section below. [Image courtesy of ItsGoingDown.org] Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post Tron (TRX) Could Adopt zk-SNARKS To Enhance Privacy by Q1 2019 appeared first on Ethereum World News.

a month ago

Bitcoin is on the Verge of Falling Apart, Says Paul Donovan

Paul Donovan recent bearish remarks for Bitcoin is an attempt to bury the top-ranking cryptocurrency for good. UBS Executive Sounds the Death Knell for Bitcoin According to CNBC, Paul Donovan, Chief Economist of UBS Global Wealth Management, stated that he didn’t have any praises for Bitcoin, instead, was ready to bury the number one virtual currency. The UBS executive also declared that it was time to discard digital currencies, as they were “nearing the end of the road.” The Chief Economist believes that the top cryptocurrency is on the verge of falling apart completely, considering its latest price performance. Donovan added that one of Bitcoin’s primary obstacle was the government, stating that the idea of BTC replacing fiat was quite ambitious. Contrary to the above statement, this is not the first time BTC is experiencing a price crash. It always bounces back to a new high. Donovan further said: Right from the start of the hike in late last year, it was fairly obvious that this was going to end badly, unfortunately, for some of the people who weren’t protected by any kind of regulation and got sucked into the process. Anthony Pompliano, however, recently stated that BTC was the best performing asset class in the last decade. The UBS executive went on to say that virtual currencies could not become currencies, either now, or in the future. Contrary to this statement, U.S. SEC chairman, Jay Clayton, stated that the leading cryptocurrency was not a security. Clayton further said that Bitcoin was a replacement for sovereign currencies including the dollar, euro, and yen. Furthermore, the leading digital currency has found success in supporting remittance corridors all across Southeast Asia and Africa. Donovan is, however, not the only vocal BTC critic right now. Oanda trader, Stephen Innes, recently stated that the leading cryptocurrency would plummet to $2,500 by January 2019. Vinny Lingham also added that Bitcoin price would remain between $3,000 and $5,000 till mid-2019. Bulls Undeterred by Current Bitcoin Price Action The current price action of the top-ranked cryptocurrency revealed a volatility return that was absent since Q2 2018. Bitcoin began its sudden fall by mid-November, to get to $5,600. Since then, the cryptocurrency has experienced volatile price swings. According to an earlier report, Bitcoin and other virtual currencies showed some bullish tendencies. The top cryptocurrency rose 5% within a few hours, with $4,300, positively dragging other altcoins. Bitcoin is currently struggling to stay at the $4,000 range, a significant decrease from its earlier price. Despite the wild price swings, some stakeholders are bullish on Bitcoin. The NYSE Chairman, Jeff Sprecher, described the leading virtual currency as a survivor, despite worst bearish situations. Chinese billionaire, Zhao Dong also predicted that Bitcoin price could reach $50,000 to $100,000 by 2021. Image courtesy of Shutterstock. The post Bitcoin is on the Verge of Falling Apart, Says Paul Donovan appeared first on Ethereum World News.

a month ago

Verge (XVG) Pumps and Dumps on Bithumb Listing

Verge (XVG) was recently listed on Bithumb, the third largest exchange by 24-hour trading volume and the XVG/KRW pairing led to XVG gaining 67% before tapering off at a 27% gain. The paring of XVG with the South Korean Won (KRW) meant traders living in South Korea were able to purchase XVG for the first time ever and this is the most likely reason for the price pump. During the 2017 crypto-bull run, XVG notched an all-time high of $0.24 before dropping back to $0.007. Currently, XVG is listed 46th on CoinMarketCap. (RS)

2 months ago

Verge (XVG) Rises over 40% in Hours After Bithumb Listing. Gaps 4 Coins in The Global Marketcap

Privacy-oriented cryptocurrency Verge (XVG) surprised users after becoming one of the fastest growing cryptos of the last week, surpassing the performance of several larger-cap cryptocurrencies. Verge had a growth of more than 50% of its value, after Bithumb’s announcement that it enabled the trading of the popular token within its platform: [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 The stimulus caused by the dissemination of this news provoked an increase in XVG’s value, leading it to climb positions within the global market cap and rank several seats higher in the Top 50 of the most capitalized cryptocurrencies. According to coinmarketcap’s archive, Verge (XVG) ranked 50 just four days ago with a total capitalization of $82,404,557. Today, it is ranked 46th with a capitalization of $112,600,473. This represents a +40% increase in less than a week, something quite remarkable. Verge (XVG) and Market Volatility It is important to note that due to the high volatility of the crypto markets, prices can change rapidly. However, from the technical point of view prices do not yet show a behavior that would allow us to speak of s trend strong enough to fall back to levels of a week ago. XVG trading began a few hours ago in Bithumb, so it is essential to know that according to previous experiences, after the initial pump — unless the crypto has stable and proven support levels — the prices tend to fall drastically. However, it is likely that if there is a fall in prices, it will not cause prices to fall back to levels of a week ago. Currently, the market is suffering a recovery after the bearish period generated by the Bitcoin Cash fork. Bitcoin (BTC) prices and behavior are crucial to determine the behavior of XVG and other altcoins. It is also important to point out that Bitcoin Cash is one of the cryptocurrencies with the worst performance in the top 10 of coinmarketcap, losing its position ranking against Stellar in terms of market dominance and capitalization The post Verge (XVG) Rises over 40% in Hours After Bithumb Listing. Gaps 4 Coins in The Global Marketcap appeared first on Ethereum World News.

2 months ago

Verge (XVG) Pumps (and Dumps) on Bithumb Listing

Privacy coin Verge (XVG) was recently listed on the world’s 3rd largest cryptocurrency exchange, Bithumb. Following the listing on this South Korean exchange, XVG rose up 67%, before a correction down 27%.

2 months ago


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